Duane’s Video May 26
| “It’s a great day to be in real estate! Duane Beisner here… sales manager and a sales representative for ERA real estate. |
Duane’s Quote of the Day
I have never been a millionaire, but I have enjoyed a great meal, a crackling fire, a glorious sunset, a walk with a friend, a hug from a child, a cup of soup, a kiss behind the ear. There are plenty of life's tiny delights for all of us. -- Jack Anthony
Duane’s Joke of the Day
One warm summer evening a mother was driving with her three young children. A woman in the convertible in front of them stood up and waved. She was STARK NAKED. As the mother was reeling from shock, the five year old said, "Mom, that lady isn't wearing a seat belt!"
Duane’s Business Tip of the Day
If you were to keep track of the average salesperson's time each week, you would discover that at least 80% of a typical week's time is spent on nonproductive activities.
Think about it.
Duane’s Social Commentary
What states are the greenest?
Governors around the country, from California's Arnold Schwarzenegger (R) to Colorado's Bill Ritter (D), have been signing legislation to attract green businesses, jobs and renewable energy sources to their states.
So which state is the greenest? Green directory website Greenopia.com, set out to answer that question by comparing a long list of data including water quality, recycling rate and eco-friendly buildings.
1. Washington
The Evergreen State is living up to its nickname. Washington made the top stop because of its high number of LEED buildings, green businesses and renewable energy sources.
2. Vermont
One of the state's renewable energy sources is the Searsburg Wind Power Facility, which can power some 1,400 homes a year. Vermont has also attracted a number of green businesses to the stat. Some 100 of them operate within its borders.
3. New York
The Empire State is cited as having low water consumption per capita compared to other states, according to the report. New York also has a large number of green businesses, some 3,000.
4. Oregon
Oregon has one of the highest recycling rates in the country at almost 50 percent. It was also cited for having a large number of green businesses relative to its population. There are about 600 green businesses.
5. California
The Golden State gets a large amount of its energy from renewable sources, such as eSolar's Sierra Sun Tower, which can power up to 4,000 homes in Southern California.
6. Nevada
One of the state's renewable energy sources includes ACCIONA's Nevada Solar One. Completed in 2007, it can power more than 14,000 homes a year.
7. Maine
8. Colorado
9. Minnesota
Target Field, achieved LEED silver certification (the third-highest level). The baseball stadium, which opened in April, has recycling stations, water-saving fixtures and utilized recycled building materials.
10. New Hampshire
The state's winning quality, according to the report, is its low energy consumption and emissions per capita.
New Hampshire's first wind farm opened in the town of Lempster last June. Developed by Iberdrola Renewables, the farm is expected to power 10,000 homes in the state.
Duane’s Real Estate News for something special…
Here's some good news for the struggling US housing market: Thanks to the European debt crisis, mortgage rates are at historic lows.
The current average rate for a 30 year fixed loan is 4.87 percent, according to Bankrate.com. That's the lowest rate for the 30 years since Bankrate started keeping track 25 years ago.
Even jumbo loan rates-loans for more than $417,000-have fallen. The 30-year fixed jumbo loan is at an average rate of 4.5 percent, down from nearly 6 percent at this time last year.
"It's the best time in our generation to buy," says Mark Zandi, chief economist at Moody's. "It may be the best time in any generation. Mortgage rates are so low and with homes prices down and lots of inventory, you couldn't pick a better time to buy or re-finance."
Europe's debt crisis is behind the drop. Nervous investors are flocking to the security of US Treasuries, which pushes down their yield and influences a host of consumer interest rates-including those on mortgages.
The decline is also good news for homeowners looking to refinance, particularly those who owe more on their mortgage than their house is worth.
"There's a tremendous window on re-financing," says Greg McBride, chief economist at Bankrate.com. "That's particularly true for people who can take advantage of the government's Home Affordability Refinance Program (HARP)-which allows home owners to refinance into low mortgage interest rates even if they're property value has gone down."
HARP, which was due to end at the end of this June, now runs through June of 2011.
"Think of the benefits if you buy or refinance now," says McBride. "Locking in now at the lower rates means more bang for the buck and more breathing room for homeowners when it comes to payments."
But the decline in rates probably won't last long, analysts say. So homeowners need to move fast.
"I think they won't last much longer than a month or two at the best," says Lawrence Yun, chief economist at the National Association of Realtors. "I can see them going up to 5.5 percent by the end of June if not sooner."
The reasons? Yun says the worries over Europe will be fading soon and investors will be looking at other assets besides US Treasuries. And there's the US deficit, which will push up Treasury yields.
This is Duane signing off. Happy Trails to you! As always, I am proud to be an American. You can email me at duane.beisner@era.com Or visit my website at www.rejedi.com
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