Fed Reserve and Lower Fixed Rates

There was a massive drop in the 10 year note today, in fact it was one
of the largest one day drops in history!! What this will equate to is
lower rates as much as 1/2 (.50) on most fixed rate product. Below is a
press release from the Federal Open Market Committee (Fed Reserve)
announcing what they did to cause the drop. This is welcomed good new,
and I thought it was good information for everyone have.

Press Release

Release Date: March 18, 2009
For immediate release
Information received since the Federal Open Market Committee met in
January indicates that the economy continues to contract. Job losses,
declining equity and housing wealth, and tight credit conditions have
weighed on consumer sentiment and spending. Weaker sales prospects and
difficulties in obtaining credit have led businesses to cut back on
inventories and fixed investment. U.S. exports have slumped as a number
of major trading partners have also fallen into recession. Although the
near-term economic outlook is weak, the Committee anticipates that
policy actions to stabilize financial markets and institutions, together
with fiscal and monetary stimulus, will contribute to a gradual
resumption of sustainable economic growth.
In light of increasing economic slack here and abroad, the Committee
expects that inflation will remain subdued. Moreover, the Committee sees
some risk that inflation could persist for a time below rates that best
foster economic growth and price stability in the longer term.
In these circumstances, the Federal Reserve will employ all available
tools to promote economic recovery and to preserve price stability. The
Committee will maintain the target range for the federal funds rate at 0
to 1/4 percent and anticipates that economic conditions are likely to
warrant exceptionally low levels of the federal funds rate for an
extended period. To provide greater support to mortgage lending and
housing markets, the Committee decided today to increase the size of the
Federal Reserve's balance sheet further by purchasing up to an
additional $750 billion of agency mortgage-backed securities, bringing
its total purchases of these securities to up to $1.25 trillion this
year, and to increase its purchases of agency debt this year by up to
$100 billion to a total of up to $200 billion. Moreover, to help improve
conditions in private credit markets, the Committee decided to purchase
up to $300 billion of longer-term Treasury securities over the next six
months. The Federal Reserve has launched the Term Asset-Backed
Securities Loan Facility to facilitate the extension of credit to
households and small businesses and anticipates that the range of
eligible collateral for this facility is likely to be expanded to
include other financial assets. The Committee will continue to carefully
monitor the size and composition of the Federal Reserve's balance sheet
in light of evolving financial and economic developments
Voting for the FOMC monetary policy action were: Ben S. Bernanke,
Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles
L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel
K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.

Home Sales up 13% from Jan 2009 to Jan 2008

Breakdown By Region

Here's how the PHSI fared across the country:

* Northeast: dropped 12.7 percent to 57.8 in January and is 19.7 percent below a year ago.
* Midwest: declined 9.2 percent to 72.6 and is 13.8 percent below January 2008.
* South: fell 11.9 percent to 82.2 in January and is 9.1 percent below a year ago.
* West: rose 2.4 percent to 103.6 and is 13.5 percent higher than January 2008.

TO READ THE ENTIRE ARTICLE FOLLOW THE LINK TO READ:

http://www.realtor.org/RMODaily.nsf/pages/News2009030301?OpenDocument

All my best,
Greg

LAPD COMMUNITY ALERT NOTIFICATION

LOS ANGELES POLICE DEPARTMENT
OFFICIAL PUBLICATION OF THE NORTHEAST CRIME ANALYSIS DETAIL
NORTHEAST DIVISION

VEHICLE BURGLARY ACTIVITY


*ATTENTION* NORTHEAST COMMUNITY MEMBERS
RECENTLY THERE HAVE BEEN A RASH OF VEHICLE BURGLARIES IN GRIFFITH PARK.

DON'T GIVE THIEVES A CHANCE
HERE'S WHAT YOU CAN DO TO PREVENT CAR BURGLARIES AND THEFTS


1. Never leave valuables in PLAIN VIEW in your car. Thieves know that you
hide your property under towels, sweaters and packages. Secure items in
your trunk prior to arriving at location. Thieves are watching you.
2. Use some type of anti-theft device (alarm system, or steering lock).
3. Park in well-lighted or high-traffic areas.
4. Permanently mark your property with identification.
(We suggest your driver license or ID card number).
5. Keep serial numbers of electronic equipment, such as computers, IPODS, GPS,
and cellular telephones.
6. Never leave your car running unattended.
7. Keep your car doors locked and windows rolled up.
8. Don't leave personal identification documents in car (Vehicle Ownership Title,
credit cards etc.) Keep copies of license plate and vehicle identification number
with you.
9. If your car is stolen or burglarized, immediately report it to the police.
10. Report suspicious activity or people loitering in the area.
This public safety information is provided by LAPD Northeast Auto Detectives. If you have any
information on auto related crimes or on auto related crimes or on suspects committing these crimes
in your neighborhood, call Detectives at (213) 847-4265.

If you see any type of crime in progress, call 911.

TOGETHER WE CAN MAKE THE CITY A SAFER PLACE

Today's Open House March 1, 2009 1 - 4pm

This charming home w/ separate guest house is OPEN TODAY (3/01) from 1 to 4pm. Located in the prime Silver Lake neighborhood of Moreno Highlands, this home is just minutes from the park and walking track at the reservoir. The 2-story home features 3 bedrooms and 2 baths, a formal dinning room w/ built-in china cabinet, and a large living room with a fireplace. The bright and sunny kitchen comes equipped with a stove, frig, microwave, new dishwasher, and a separate pantry. Spectacular views of the Griffith Observatory from the living room, dinning room, and deck. The entire home has just been professionally painted inside and out with a designer color palette and the hardwood floors have been completely refinished. Brand new central heat and A/C unit. The detached guest house is bright and sunny and has a separate ¾ bath. The property also has a two car garage and beautiful grounds with roses, flowering plants, and two grass yards.

This home is a must-see to appreciate its charm, character, and great location. Other lease properties are also available in the Silver Lake area. For information on other properties…check out TODAYSOPENHOUSES.COM