Text for Duane's Real Estate Video of the day for August 25

Duane’s Real Estate Video August 25

“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 The poor man is not he who is without a cent, but he who is without a dream. Harry Kempe

Duane’s Joke of the Day

Embarrassing Situations!
A very shy guy goes into a bar and sees a beautiful woman sitting at the other end. After an hour of gathering up his courage he finally goes over to her and asks, tentatively, "Um, would you mind if I chatted with you for a while?" To which she responds by yelling, at the top of her lungs, "No, I won't sleep with you tonight!" By now, the entire bar is staring at them. Naturally, the guy is hopelessly and completely embarrassed and he slinks back to his table. After a few minutes, the woman walks over to him and apologizes. She smiles at him and says, "I'm sorry if I embarrassed you. You see, I'm a graduate student in psychology and I'm studying how people respond to embarrassing situations." To which he responds, at the top of his lungs, "What do you mean $200!"

Duane’s Business Tip of the Day

Want to be creative? Take the logical and make it ridiculous. Take  the ridiculous and make it logical.

Think about it.

Darwin Award of the Day

Duane’s Social Commentary

Bad news! Lindsey Lohan is out of jail. Good news? Her mom says she is going to New York so at lease we are safe here in the Los Angeles area.

For America's Middle Class, the Hits Just Keep on Coming A lot of ink and pixels have been spilled this week over the ICI's report that equity mutual funds suffered net withdrawals totaling over $33 billion in the first seven months of 2010. Myriad reasons were cited for the trend, including a mistrust of stocks, the flash crash and an aging population. Perhaps the biggest reason of all hasn't gotten enough attention: Americans are making due with less and don't have the money to put into stock funds, and many are taking money out of their investments to pay for basic necessities like food, clothing and shelter. With wages stagnant for those who still have a job "a lot of people are having to tap into their nest egg to keep their living standards going," says Damien Hoffman, co-founder of WallStCheatSheet. "A lot of people are living out of principal. There's no other way to get around that." Fidelity's recent report of a sharp increase in the number of 401(k) participants seeking loans or hardship withdrawals in the second quarter is further evidence of the disappearing middle class. "These are basically emergency ways to fund yourself. We think it's a scary statistic," Hoffman says. "Where is the middle class going to be if they draw down their 401(k)s drastically over course of next few years?" Hoffman notes this trend is most prevalent among Baby Boomers, including many considered in the "upper middle class," who thought they'd be able to draw much more from fixed-income securities than offered in the current environment of ultra-low rates. With many younger Americans facing a difficult job market, stagnant wages, potentially higher taxes and the burden of caring for aging parents, this trend could expand with devastating socio-economic consequences, he fears. "If we have more people beyond the Boomer generation lose a substantial part of their 401(k), it's going to be a negative feedback loop," he says. In an effort to not be part of the negative feedback loop, Hoffman and I also discuss some reasons to be optimistic, including evidence of more individuals using the Web and social networking tools to create actual money-making enterprises. I used to be part of the middle class and I know I have been disappearing myself. But the government with its socialist agenda wants us all to be the same… broke! Duane’s Real Estate News Housing Affordability Near Record-High for Sixth Consecutive Quarter By: Carrie Bay 08/24/2010 Bolstered by favorable interest rates and low home prices, housing affordability in the second quarter remained near its highest level of the past two decades, according to the Housing Opportunity Index developed by the National Association of Home Builders (NAHB) and Wells Fargo. It was the sixth consecutive quarter that the affordability index hovered near a record high. The index indicated that 72.3 percent of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income of $64,400. The index for the second quarter was slightly more affordable than the previous quarter and almost equaled the record-high 72.5 percent set during the first quarter of 2009. Until 2009, the HOI rarely topped 67 percent and never reached 70 percent. “Homeownership is within reach of more households than it has been for almost a generation,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Michigan. “Interest rates continue to hover at historic low levels, the economy is beginning to rebound and…house prices [are] starting to stabilize.” The index found Syracuse, New York to be the most affordable major housing market in the country. There, 97.2 percent of all homes sold were affordable to households earning the area’s median family income of $64,300. The second-most affordable market was Indianapolis, which had held the top ranking for nearly five years, followed by Detroit; Youngstown, Ohio; and Buffalo, New York. Among smaller housing markets, the most affordable was Springfield, Ohio, where 96.6 percent of homes sold during the second quarter of 2010 were affordable to families earning a median income of $56,800. Other smaller housing markets near the top of the index included Mansfield, Ohio; Bay City, Michigan; Monroe, Michigan; and Lansing, Michigan. New York City continued to lead the nation as the least affordable major housing market, where only 19.9 percent of all homes sold during Q2 were affordable to those earning the area’s median income of $65,600. This was the ninth consecutive quarter that the New York metropolitan division has occupied this position. The other major metro areas near the bottom of the affordability scale included San Francisco; Irvine, California; Los Angeles; and Honolulu – all metro areas that have lingered among the bottom rankings for several quarters. San Luis Obispo, California was the least affordable of the smaller metro housing markets in the country during the second quarter. Others included Santa Cruz, California; Ocean City, New Jersey; Santa Barbara, California; and Napa, California.

I need to say this again… this market right now is the BEST Buyer’s Market you or I will ever see in our lifetime. If you or anyone who you may know is looking to buy a home or sell a home anywhere in the world, let me know. I can help.

If you are looking to make a move to real estate as a career, please shoot me an email or give me a call.

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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