Archive for January, 2008
January 26th, 2008 categories: San Diego Real Estate
One of the most amazing pieces of technology that I have ever had the pleasure to experience, brings a real joy in my life. I was so delighted to receive one for Christmas. Yesterday I down loaded to my iPod Touch, Apple’s new upgrade software that provided many more programs.
With no hard drive to wear out, the iPod Touch is the new Flash Drive Technology and it is totally awesome. The new software package brings the ITouch up to nearly the functionality of the iPhone ( without the phone). With the new user friendly technology, even those with no tech experience can use it and enjoy it’s many features.
What I love most is the pictures capability. It is so fun to have all your photos with you and you can show and share at any time. If you are near any Wi-Fi hot spots, you can access the Internet, receive and send e-mail ( without cost) and even watch You Tube videos with its own touch button. If you have a desire to rent a movie, you can do that for $3.99 from iTunes ,sync to the iPod player and with up to 22 hours of play time, this little devise is loads of entertainment.
One of the new software programs is maps and using the Google Earth, you can look down into any neighborhood, get maps with directions drawn out ( just like having a GPS ). The mapping relies on the existing satellite technologies and available wi-fi. However, the last map, and 3–D views search remains till you change the search parameters.
The screen and the quality is just like HDTV, back light for brilliance. It will bring photos to life. With the strides they are making in these new technologies, this little device is destined for greatness.
If you would like to take a guided tour and view this amazing technology, enjoy this YouTube presentation.
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At least this has been the identifying cycles of years past. Will it work again this time with so much pressure on housing prices brought on by the collapsing financial markets? It is a question everyone seems to have an opinion on and those opinions are as varied as are the shades of white paint.
Rates are now well below 6% for all conforming loans and under 6.75% for Jumbo loans. The loan limit amounts in the conforming categories may be about to change upward making the costs at least on a monthly payment basis, less. While the rates do not reflect the add-on of points and certain lending charges, with these lower rates will Buyers and Investors move off the side lines and jump back into the market?
My prediction is that they will and with the amount of deferred demand, we could see some drastic numbers reflecting increased sales in many of the markets across the US.
The one caveat that must also be factored in is the increased difficulty in acquiring these loans. With tighter guidelines in play and the new more stringent guidelines for qualifying, the big increase in the numbers of sales may still be ways off unless and until investors supplying the money for these loans feel more confident in the general economy and lenders make the process a bit easier for qualified Buyer to Buy.
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For the better part of 18 months, the housing market has been suffering through a conundrum that few understand completely and even fewer have an answer for.
Many entry level condominium Sellers have their respective properties on the market and the Buyers have been observing but not doing much with the inventory, save checking on it periodically to see what the prices are doing.
In the lower scale of pricing, many of the available properties are marketed as short sales and REO ( Bank Owned) properties. There are ready buyers for many of these properties but the market circumstances and lender requirements have created road blocks to their being purchased.
Many sellers with few other options, have opted to rent out the properties instead of facing the lower values or the other possibilities of short sales or forclosures. This has knocked down the percentage of owner occupied properties and many of the condominium subdivisions no longer fit with the lenders requirement for conforming loans of 60% owner occupied to qualify for 10% down payments. With that owner occupied qualifier, Buyers need to put down a minimum of 20%. At the entry level most Buyers dont have 20% to put down. So the shortage of qualified subdivisions has actually limited the qualified inventory for new 1st time Buyers. As time passes and more and more property owners find themselves upside down, this quagmire only worsens.
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