Sharon Filbig - North San Diego County Real Estate and Information

“No Picture Available” - Bad Agent Syndrome

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Sat, 08 Mar 2008 18:47:35 -0600

Do you recognize this house? No, that's not a mistake you're looking at here. "No Picture Available" is something I'm seeing lots of these days as I search the MLS for my clients. You've probably come across it as well. It's the sign of "Bad Agent Syndrome". It causes endless frustration for the buyers out there and agents, too. You pull up a list of homes that fit your criteria, and many of them get canned because there aren't photos or a decent description.

Ultimately it is the sellers of these photo-less homes that suffer the most at the hands of this type of agent. You know the type; the agent who doesn't take pictures, spellcheck their listing, return their calls, or check their emails. Apparently these agents can't be bothered to do their job. Are there decent flyers for these homes? No. Are there ads placed for these homes? Of course not. Do you think there's ever an open house held? Nope. Market Analysis? Huh-uh. And do you think these homes end up fetching a decent price? No way, Jose.

How does an agent serve their client if they don't bother putting even the slightest bit of effort into getting their listings sold? I'm also curious as to how these agents continue to get listings? Are they actually making a living? Shouldn't someone kick them to the curb? I wish I could . . .

I feel so bad for the sellers of these homes. I wonder if they are even aware of the fact that there aren't any photos of their home on the MLS or on the web? "Bad Agent Syndrome" seems to happen more on lower priced homes, and that's just not right. Whether it's a conventional resale, a short sale, or a foreclosure, doesn't a home seller always deserve to have their home marketed effectively? Many of these homes are already headed for foreclosure, and these homesellers need all the help they can get!

Regardless of price point, a home is the single largest investment most people will ever make, and we have an obligation to serve our clients fully and to the best of our abilities. There are so many good agents out there. Agents who are cognizant of the many ramifications of their actions. Agents who are trained in marketing, fully invested in their business, and respectful of their fiduciary duty to represent their clients. These are the good guys. These are the ones who somehow manage to triumph over a declining market and get the job done.

Let's hear it for the good guys!

By the way, I'm starting my own personal campaign to make these agents aware that their listings need photos . . . and I invite you to join me. With kindness, of course.

New Restaurant Open in Escondido

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Fri, 25 Jan 2008 21:39:17 -0600

There's a delicious new reason to come to Escondido.

Tango Restaurant & Wine Bar is now open for dinner Tuesday through Sunday. Tango is located on beautiful Grand Avenue in the heart of historic Escondido.

Executive Chef Russell Hawkins provides his guests with an exceptional culinary experience. You will not be disappointed. This talented chef is enthusiastic and innovative. His cuisine originates from the highest quality and freshest ingredients. Clever pairings and delicious ingredients delight the palate. The food and ambiance is elegant without being pretentious.

Tango's menu changes daily and features naturally raised meat and game, line-caught seafood, and organic produce. Whether you choose to begin your meal with an elegant caviar appetizer or end it with a whimsical root beer float," you'll leave with a smile on your face!

Tango is sure to become one of North San Diego County's favorite fine dining destinations. Tango serves a wonderful assortment of "small plates" and beautiful desserts. If you want a light supper or something sweet after a concert or movie, stop by Tango. The restaurant is just a short walk from the California Center for the Arts and the Regal 16 stadium-style movie theatre.

Tango - a dance between wine and food!

Tango Restaurant & Wine Bar

417 West Grand Avenue

Escondido, CA 92025

For reservations or more information, call (760) 747-5000 or visit http://www.tangoongrand.com/

Just Do It!

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Thu, 24 Jan 2008 18:33:10 -0600

January 24th is National Just Do It Day. Who declared it as such? I don't know. Whoever it is, they just did it!

Haven't done a good deed yet this month? JUST DO IT! Have you been putting off a difficult task? Do a good deed for yourself and JUST DO IT!

Been sitting on the fence, waiting for just the right time to buy a home? JUST DO IT! Conditions are right and now's the time.

Today's the day to take action and do whatever it takes to make your life better. Or make someone else's life better.

Need an idea? Here are a few . . . Make a decision. Pay a compliment. Call a friend. Make a friend. Call your mother. Give a dollar to the guy with the sign on the street. Become a member of public television. Do something you know you're supposed to but you just didn't do.

Stop the negative inertia of inaction and start the positive momentum of action. Feel how good it is to get something DONE! Imagine how much better the world would be if we all just thought for a moment about one thing we really ought to do and then got off our behinds and actually did it! Can I get a witness? Let's go!

How About a Little Prairie Justice?

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Sun, 28 Oct 2007 23:41:15 -0500

The recent Southern California fires had a number of causes; a long drought, a particularly fierce Santa Ana wind that lasted longer than usual, and a few idiot yahoos who thought they'd express their inner anger at society by running around starting fires at the worst possible time.

Did these arsonists crave attention? Was this a cry for help? Did they enjoy watching the suffering they caused? Did they compare notes beforehand?

So I've been wondering; why tie up the justice system and take up space in a jail cell with these arsonists? Sometimes a little "prairie justice" just makes more sense. When we catch arsonists in the act, as we did, why don't we just immediately give them an opportunity to pitch in and help fix the problem they created? After all, the firefighters need all the help they can get. Let's hand the arsonists a shovel and a spray bottle full of water and drop them off in the midst of the burn area. Then we'll show them what it means to cry for help.

OK, I know that sounds bitter and mean. My point is that I've heard a lot of commentary on the news about "what went wrong" about how the fires were handled. It doesn't seem fair that there is so much coverage of politicians blaming each other but so far I haven't heard much about the arsonists they've arrested. Hmmm . . .

And really, we can't sue the wind.

Let's Have a Break from the Bad News

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Sat, 27 Oct 2007 22:50:39 -0500

I've had a rough week, being a San Diego County resident, and I'm cross-eyed and worn out with all the stuff we've been dealing with. Humor can sometimes help when life throws bad stuff at you. I decided to take a break from the recovery process and do something to laugh a little.

If you're in need of a little cheering up, here's something that works pretty well in my household:

Stupid Review X

Life in Exile: San Diego is Once Again Burning

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Mon, 22 Oct 2007 20:34:26 -0500

As soon as the sun set last night, the Santa Ana winds picked up to hurricane force, howling across our attic, whistling in through our windows, and straining against our garage doors. I tried to sleep, but I grew more and more uneasy as I looked at the night sky. The brown smoky layer reflected the moonlight and the streetlights cast a strange glow.

After I gave up on sleep, I turned on the TV and began to realize the fire situation was about as bad as it could be. Bone dry winds so strong that trees were snapping and fences were blowing down. The static electricity was so bad I got shocked petting my dog. Despite the shocks (poor thing), she still followed me around wanting to be petted and comforted. She made it clear that something was very wrong.

As dawn approached, the news reports indicated where the mandatory evacuations were and which areas were now burning. Nearby, Rancho Bernardo was burning, as was Poway, and Lomas Serenas was under mandatory evacuation. San Marcos was burning to the north of us. Fire was working its way into Escondido from all directions. I poked my husband awake. He did not believe me at first, and was annoyed at my insistence that we start packing. He's inherently optimistic, and kept looking at the patch of clear blue sky to the north. Then the phone call came from reverse 911.

We loaded up the car with computers, clothes, cameras, pictures, and vital docs. And of course the kids and dog. Sort of like having to get ready to go camping really fast! I could make a long list of all the things I did not bring, but we are all safe.

My prayers are with all the other evacuees and especially with the firefighters who are placing their lives on the line under incredibly extreme circumstances. I pray that San Diego County makes it through this disaster, and I have faith that it will.

Smoke over Lake Hodges

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Sun, 21 Oct 2007 21:03:20 -0500

Here's a photo I took today of the smoke from a distant fire accumulating over the rolling hills surrounding Lake Hodges in Escondido. There are two fires burning in the eastern part of San Diego County, and the Santa Ana winds are carrying the smoke westward. Smoke from the fire was visible in most parts of the county today, and I could even smell it from my house.

The scene was eerily reminiscent of the Cedar Firestorm, which burned more than 300,000 acres in October 2003, almost four years ago to the very day! That deadly fire spread quickly and was fueled by fierce Santa Ana winds. So many people lost their homes in that fire! The fires burning today were located in relatively remote areas of the county and were not threatening major populations. As we did four years ago, we are praying for a change in the weather, a shift in the wind, and for the protection of our firefighters.

I'm so thankful for our wonderful and dedicated firefighters for their brave work! What we're witnessing today is a timely reminder about how vital these people are. Please see my post about the fundraising efforts for the Rancho Bernardo Fire Station for more information about what we can do to reciprocate.

Hey you! Did you ICE your cell phone yet?

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Wed, 17 Oct 2007 15:15:05 -0500

If you haven't ICEd your cell phone yet, here's a gentle reminder/nag from me.

What is ICE? It's an acronym for In Case of Emergency. No, not the TV series. It's a program developed by first responders so they can contact your family or your "people" in case something happens. Paramedics, firefighters, and police officers are often able to find a victim's cell phone but don't know how to get ahold of the right people.

How do you ICE? Simply make new entries in your cell phone address book under "ICE 1, ICE 2, ICE 3", etc. One entry for each person/phone number. You could also name it to identify the person: "ICE 1 Husband", etc. Here's an important tip: make sure you enter the contact's phone number with an asterisk after it so that your cell phone can differentiate from the cell phone entry you already have. Otherwise you'll confuse the phone and your Caller ID won't work for that person.

Did you already know about ICE? I did. But I sort of put it off and procrastinated until I got a reminder from one of my associates (thanks, Alfredo). So I finally got around to it. Now my husband and I are both ICEd.

This is such a simple and easy thing to do, so if you haven't done it yet, go ICE that cell phone!

Rancho Bernardo Firefighters Need YOUR Help!

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Fri, 12 Oct 2007 12:43:39 -0500

Support Rancho Bernardo's Firefighters

When: October 23, 24 and 25

Where: Mr. Charlie's Fortune Cookie Restaurant
11828 Rancho Bernardo Rd
San Diego, CA 92128
(858) 451-8958

Why: To Raise Funds to Renovate Fire Station #33 in Rancho Bernardo

Here's your chance to support those who put their lives on the line for us, protect our homes, and care for us when we need it most! Enjoy delicious gourmet Chinese food with a European touch, knowing that a portion of the proceeds are going to this worthwhile cause! Come any time during those three days, and Mr. Charlie's donating a portion of his restaurant's proceeds to the Firehouse project. Print out this blog and bring it with you (see flyer below)!

On Wednesday, October 24th, Mr. Charlie's will host vendors there in the restaurant as well, so you can eat great food and then shop early for the holidays! There will be vendors such as Pampered Chef, Princess House, Designs by Dianne (specialty pens), Arbonne International, and Premier Design Jewelry, all of whom have agreed to write a check for their profits to our local Fire Station #33. Way to go! All we need is YOU!

More Why: The Rancho Bernardo Community Council is asking for help in raising funds to renovate the 35-year-old fire station on Bernardo Center Drive. It is estimated that it will take about $675,000 to adequately renovate Fire Station No. 33.

According to the renovation committee, "The underlying issue is that we live in a very nice part of San Diego and yet for these firefighters, who put their lives on the line every day, we don't provide very good living or working conditions."

Originally built for a crew of three, there are now a minimum of six firefighters and paramedics assigned to the station around the clock. The living quarters are too small, and firefighters often have to eat standing up because there just isn't room for everybody to sit in the kitchen. The cramped sleeping quarters have a persistent case of mold due to a leaky roof, and the bunks are only separated by shower curtains (plus it's co-ed). Nice, huh?

There's an extensive list of major repairs and renovations needed, from a new roll-up doors so fire trucks don't have to block traffic to back in, a new front entrance, and much-needed repairs on the living quarters. The cash-strapped City of San Diego has allocated funding to overtime pay, equipment and deferred maintenance, but not to major renovations such as this.

So come on out and support those who put their lives on the line for us, protect our homes, and care for us when we need it most! Enjoy gourmet Chinese food with a European touch, knowing that a portion of the proceeds are going to this worthwhile cause! Shop early for the holidays! There will be vendors such as Pampered Chef, Princess House, Designs by Dianne (specialty pens), Arbonne International, and Premier Design Jewelry, all of whom have agreed to write a check for their profits to our local Fire Station #33. Way to go! All we need is YOU!

For more information, go to http://www.rbcommunitycouncil.com/

For comprehensive information on San Diego homes, real estate and community, visit my website at http://www.FilbigHomes.com

"Honey, don't eat the dog food"

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Tue, 09 Oct 2007 15:33:01 -0500

When you have two young children, phrases end up coming out of your mouth that you never expected to have to say.

"Honey, don't eat the dog food", as your 3-year-old pops another handful into her mouth.

"Stop throwing the noodles at the wall", thanking heavens that you didn't put the spaghetti sauce on yet.

"Don't hit your sister with the bread!" as your oldest makes a sword out of a baguette.

"No, dinosaurs aren't stinky, they're ex-tinct. That means they're not around anymore."

Life with the little ones is never dull.

How about you? What's the strangest/funniest thing you've found yourself saying to your kids?

In Search of Hodgee, the Lake Hodges Monster . . .

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Fri, 05 Oct 2007 22:38:15 -0500

Have you heard of the Legend of Hodgee?

Escondido, CA - Is it just another urban legend, or is it possible we have our own version of the Loch Ness monster inhabiting the quiet, murky waters of Lake Hodges?

It all started 1916 when the San Dieguito Mutual Water Company began construction on the Lake Hodges dam. Members of the local Kumeyaay tribe of Indians opposed the project, stating that the dam would disturb the monster that lived in the river that fed the lake. Of course, they built it anyway.

Not long after that, reports began of unexplained sightings of a strange, elusive creature briefly surfacing at the lake. Descriptions of the creature were similar to that of the Loch Ness monster, with a "lizard-like head", and long neck. Over the next fifty years, sightings tapered off and Escondido locals began to jokingly refer to the monster as "Hodgee". Until, in 1966 a group of seven people picnicking at the lake were frightened by a large creature surfacing about 50 yards offshore. These eyewitness accounts all held up under scrutiny, and interest in the monster was rekindled.

Although researchers have never found conclusive evidence of any sort of creature in the lake, the rumors still surface from time to time . . .

For more information on the Legend of Hodgee, go to http://www.hodgee.com/.

For more information on North San Diego County, visit my website at http://www.filbighomes.com/

Join Us for Coastal Clean Up Day

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Thu, 04 Oct 2007 17:47:22 -0500

Join Us for Coastal Clean-Up Day

Volunteers from Prudential California Realty, including myself, are teaming up with the Surfrider Foundation for Coastal Cleanup Day as part of a major cleanup of the California coastline. The volunteers will cover beaches stretching 350 miles from San Diego to San Luis Obispo as part of Prudential's Global Volunteer Day on October 13, 2007.

The Global Volunteer Coastal Cleanup Day is scheduled from 9 a.m.-noon. To volunteer for the event in your area, please go to http://www.prudentialcal.com/ to register. For more information about the Surfrider Foundation you can go to http://www.surfrider.org/

In San Diego we will be working at both Ocean Beach and Torrey Pines Beach (I'll be at Torrey Pines). I hope you'll join us. If you have kids, bring 'em. This is a fun way for families, friends and associates to join together, take care of our fragile marine environment, show community support for our shared natural resources. One of our most important assets here in San Diego County is our coastline! Let's go hang out at the beach together on October 13th!

October 13th - Torrey Pines State Beach, 9am-11am
Meet at the lifeguard tower.

Beach Cleanup Details

Driving Directions
From I-5: Take Carmel Valley Rd. west for 1.5 miles until you reach Coast Highway 101 and turn left. The Torrey Pines State Beach entrance will be on your right. Park in the lot or on street. Meet in near the lifeguard tower across from the restrooms.
Map of Location: Click Here for Map

For more information on San Diego County real estate, visit my website at http://www.filbighomes.com/.

To buy or not to buy . . .

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Mon, 24 Sep 2007 20:29:29 -0500

To buy or not to buy . . . That is the question of the day. And the month. And the year.

Being a first-time home buyer is tough these days. First of all, there's the natural reservations about taking "the plunge" into homeownership. For most people, it's the biggest investment of their lives. And, of course, there's the fact that homeownership is usually a long-term commitment. People are understandably nervous about entering into a complicated transaction with long-term financial ramifications. On top of that, the media is full of stories about foreclosures, mortgage meltdowns, and declining home values.

So why would anyone want to enter the housing market right now?

Because you've gotta live somewhere.
Because you can paint your walls chartreuse if you want.
Because real estate has been and will continue to be a terrific long-term investment.
Because housing booms actually rarely end in housing busts. It takes major economic problems and job losses to bring about that type of decline.
Because "saving up until home prices come back down" may not work. That excuse could backfire and end up wasting a potential buyer valuable time and money. What if prices start back up? If a $300,000 home appreciated 5% over the next year, a potential buyer would have to put away an extra $15K after taxes to compensate for that increase. What if interest rates rise? Could they afford to buy then? What if underwriting guidelines get even stricter? Could they qualify?

To buy or not to buy. Yes, I'm a realtor, so I like it when people are buying houses. But I truly know that homeownership has rewards that most people aspire to. And homeownership has been proven to be the best way to build wealth and security. I hope that those who have been afraid to take the plunge can get past their fears and see that they can't afford not to take advantage of the current state of the market. Go on! You'll be glad you did!

Escondido Market Update

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Sun, 23 Sep 2007 13:47:15 -0500

Here's the latest report on the Escondido real estate market. As you can see, markets are local! You can't just generalize your perception of the "California real estate market", the "San Diego real estate market", or even "the Escondido real estate market". The chart below is just a very small part of the overall picture for Escondido. As you can see, there is a wide variation within Escondido, and if the statistics keepers really broke it down to subdivision, the numbers would vary even more! Bottom line: the real estate market varies widely depending on neighborhood, zip code, and other factors. That's why it's important to realize that although the media loves to portray the "softening of the real estate market" as a "bursting bubble", which generates lots of interest from frightened homeowners and prospective homeowners, the truth is that some areas have held steady and are selling quickly while other areas are not doing so well.

Check out the median price change year over year for 92029--a 40% price increase. Median days on market have decreased 54% from last year in that particular area.

Escondido Zip Codes	August 2007 Median Price	% Price Chg. From August 2006	August 2007 Sold Listings	Median Days on Market August 2007	Median Days on Market % Chg. from July 2007
92025 - ESCONDIDO	$610,000	11%	17	40	11%
92026 - ESCONDIDO	$487,500	1%	24	68	39%
92027 - ESCONDIDO	$477,500	-4%	26	89	68%
92029 - ESCONDIDO	$900,000	40%	11	39	-54%

Source: North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos.

Escondido Community Events

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Sat, 22 Sep 2007 14:21:02 -0500

Here's a list of community events in the Escondido and greater San Diego areas:

Ongoing:
- Thru Sept 30: Cruisin Grand Escondido - Relive American Graffiti with pre-1970 vintage cars cruising Grand Ave.
on Friday nights 5-9pm
- Friday Sept 14th - Nitro Nite !!

- Thru Dec 20: Canterbury Gardens Escondido.
2402 Escondido Blvd. 9am-5pm This Escondido landmark is the place to go for holiday decorations and gifts! Their Christmas tree displays are fantastic, definitely a visit.
Canterbury Gardens Craft Classes 760-746-1400
Canterbury Christmas Starts September 20th
~Christmas Open House on Sept. 20th! 5-9pm~ Info at www.canterburygardens.com

- Thru Dec 31: Dead Sea Scrolls - San Diego Museum of
Natural History

SEPTEMBER EVENTS:

- Sep 22: Street Scene - Coors Amphitheater

- Sep 22-23: 2nd Annual Old Town San Diego Art Festival,
10am-6pm

- Sep 22: Carlsbad Art Splash

- Sep 23: Oktoberfest & Street Faire - Encinitas

- Sep 27-30: San Diego Film Festival - www.sdff.org

- Sep 28-Oct 31: Scream Zone - Del Mar Fairgrounds

- Sep 29: Adams Avenue Street Fair - Normal Heights

COMING IN OCTOBER!

- Oct 13: Escondido Art, Music, Wine & Food Festival!!

- Oct 21: Escondido Street Faire!

San Diego Traffic - The numbers are in

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Wed, 19 Sep 2007 14:37:46 -0500

OK, the numbers are in! We in San Diego have just achieved the dubious distinction of living in one of the most congested metropolitan areas in the country! Yes, do live in a beautiful place with wonderful climate, breathtaking coastal views, and lots of local attractions. We are able to enjoy our mild weather as we crawl along the freeway at 7 mph, and it's always nice to know that we're close to the beach as we sit behind a big rig on the 5 freeway.

We now spend an average of 57 hours each year stuck in traffic, an increase of 22 hours in a ten year period. Wouldn't it be nice if we could spend those 57 hours on the beach instead? But such is the price of paradise.

Relief is on the way, according to Gary Gallegos, Executive Director of SANDAG. "Hopefully when the TTI reports in 2008 and 2009, we're going to see improvements to San Diego's numbers," said Gallegos, pointing to projects like the extension of State Route 125 into Otay Mesa this fall and the new carpool and transit lanes under construction on the 15.

"The 10 most and least congested metro areas in the nation, according to the Texas Transportation Institute. Listed are the average number of hours drivers waste in traffic delays per year.

Nationally, drivers wasted an average of 38 hours in 2005, up from 31 hours in 1995."

Most Congested:

Area	2005	1995
Los Angeles	72	71
Atlanta, Ga.	60	70
San Francisco-Oakland	60	56
Washington, D.C.	60	53
Dallas-Fort Worth	58	34
San Diego	57	35
Houston	56	32
Detroit	54	51
Orlando, Fla.	54	54
San Jose	54	51

Least Congested:

Area	2005	1995
Brownsville, Texas	8	4
Spokane	8	10
Akron, Ohio	10	9
Anchorage	10	9
Corpus Christi	10	7
Rochester, N.Y.	10	7
Beaumont, Texas	11	6
Buffalo	11	6
Springfield, Mass.	11	10
Laredo, Texas	12	7

Source: Texas Transportation Institute

FHA Reform and Fed Rate Cut - What does all this mean?

Sharon Filbig | San Diego County Real Estate (Prudential California Realty) — Tue, 18 Sep 2007 18:04:18 -0500

Two important things happened today - H.R. 1852 passed in Congress and the Federal Reserve cut interest rates.

Both of these actions may positively impact the housing market by easing pressure on the mortgage industry and, more importantly, soothing jittery consumers.

HR 1852, "The Expanding American Homeownership Act", is a much-needed reform to the FHA program. This bill modernizes and updates the National Housing Act and enables the Federal Housing Administration to use risk-based pricing to more effectively reach underserved borrowers, and allows millions more low- and moderate-income families to achieve the American dream of homeownership.

Here's what it does:

Reduces barriers to homeownership by eliminating the current statutory three percent minimum down payment. FHA's existing down payment requirement does not meet the demands of today's marketplace, where most first-time homebuyers put down two percent or less. The "new" FHA offers a variety of down payment options.
Creates a new, risk-based insurance premium structure for FHA that would match the premium amount with the credit profile of the borrower. It replaces the current structure, in which there is standard premium amount for all borrowers, while still protecting the soundness of its Insurance Fund. FHA will now have the flexibility to charge a lower premium for low-risk borrowers, and to charge higher-risk borrowers a slightly higher premium.
Increases and simplifies FHA's loan limits. FHA's loan limit in high-cost areas will rise from 87 to 100 percent of the GSE conforming loan limit and in lower-cost areas from 48 to 65 percent of the conforming loan limit. This change is crucial in today's housing market. In many areas of the country, the existing FHA limits are lower than the cost of new construction, eliminating FHA financing as an option for buyers of new homes in those markets. FHA has simply been priced out of the market in other areas, such as California, where FHA insured only about 5,000 home mortgages in all of 2005, down 95 percent from 109,000 in 2000.

Hallelujah - A Rate Cut

For the first time since June 2003, the Federal Reserve voted to cut the fed funds rate by a half-percentage point to 4.75 percent. The Fed also cut the discount rate for the second time in a little over the month, lowering the rate by a half-percentage point.

The fed funds rate, which determines consumer loans, had remained at 5.25 percent for more than a year, as the Fed tried to balance inflationary pressure with the threat of an economic slowdown triggered by the collapse of the housing market.

The Fed's statement was that they intended to "help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time."

My hope is that these two very significant actions will have a combined positive effect on consumers, on the housing sector, and on the broader economy.