Here is the mortgage rate update from Bob Franklin from Wells Fargo Home Mortgage located in the city on the beach Pismo Beach California. Please visit my web site for all your San Luis Obispo County home search needs www.myslohomefinder.com   The Week Ahead: Sparse But Potent Data Include ECB And Jobs ReportToday:  The outlook for the nation's manufacturing sector is increasingly going into reverse, based on the ISM's report where new orders, at a sub-50 level of 47.1 in August, show their third straight monthly contraction and at the deepest rate since April 2009. New export orders are definitely part of the problem, at 47.0 for what is also the third straight month of contraction. Manufacturers, as they wait for new orders to return, are increasingly drawing down their backlogs which... 09/04/2012

As most of you know, I have been talking about the maker vs taker economy where fewer and fewer are paying taxes and more and more are taking from the social welfare system to get by.  This is not just a U.S. problem, but it is also hitting much of Europe!  I read a great article below that talks about this point.  I recommend reading this well done article.  Bravo Gary Dorsch!   The Fed’s Radical QE Policy is on the Chopping Block The Fed’s Radical QE Policy is on the Chopping Block by Gary Dorsch Editor - Global Money Trends August 30, 2012 Politicians running for the US Presidency, and their surrogates, are fond of saying “that this election is the most important of our lifetime.” They invoke this cliché so reflexively and so often that it no longer has any meaning.The reason they sa... 09/01/2012

Panama is expanding the canal and it is leading to a boom!  I read the below article and realized how important the updating of the infrastructure of a country is!  What could we do here to create more jobs!  Bullet trains and the flooding in Louisiana shows us we can use more dams.  I have attached the below article about Panama and it also talks about property too. Go to my web site at www.myslohomefinder.com for all your San Luis Obispo County home search needs. Home HOT DEALS Chills Boomtown: Panama City Saturday, September 1, 2012 Dear Reader, I went to one of the malls in Panama last Saturday afternoon. Big mistake. It was packed. I picked my way past the crowds of shoppers filling the walkways. I popped into stores and popped right back out again, figuring I'd go back another day... 09/01/2012

How many are out there like me that dream of living in a tropical paradise?  I was talking to a Canadian real estate agent and I told him, as someone that spent several years in the snow and ice, that I would live in the snow again but would have to have a tropical home to flee to once the beautiful fall turned to winter.  Well here is a tease I received from a web site that sends me daily updates about the prices in some of these tropical destinations "The Pathfinder Alert". I recommend subscribing to this site for all those out there like me!  I know what many of you say, "You live on the Central Coast of California and the weathers great so why do you want a tropical second home?"  My answer is "I like 80 degree ocean temperatures and white sandy beaches! Plus they must need a real e... 08/31/2012

I read the article below and it really struck a nerve!  I have an aquantance that fits into the people that consider themselves lucky not to be in  the middle class.  Here situation is that her husband was severly injuried in a traffic accident and can't walk.  He gets disability.  She works part time!  Her family receives medicare for health care, Section 8 housing, and food stamps.  They are able to get by and even save a little.  Both her kids went to college and graduated!  They received 100% financial aid, and have good jobs now. One is a computer engineer and works for one of the best tech companies in the world.  I was talking to her the other day and she thought that in some ways she was lucky.  She mentioned a friend of hers that lost her house due to job loss, and how painful ... 08/30/2012

What are the best and worst housing markets in the U.S.?  Read the following article about the national climate.  Thanks to the AP for the article.   The Associated Press | August 29, 2012 12:02 AM EST | Associated Press U.S. home prices rose in June from the same month last year, according to the Standard & Poor's/Case-Shiller home price index released Tuesday. Steady increases have contributed to a housing recovery that began earlier this year. And most markets are being affected by foreclosures. Bank-owned homes typically sell at a sharp discount, weighing down the values of nearby homes. In markets where the supply of bank-owned homes for sale has declined, investors and other buyers will often drive up prices on the few properties that hit the market. Here are the top five cities t... 08/30/2012

Here is Thursday 8/30/2012 mortgage rate update from Bob Franklin at Wells Fargo Home Mortgage in the beautiful city of Pismo Beach California. For all your San Luis Obispo MLS and home search needs go to www.myslohomefinder.com   The Day Ahead: Jobless Claims, Personal Income, yesterday’s Beige Book         Improvement in the jobs market is marginal at best based on the trends in Jobless Claims data. New claims are unchanged in the August 25 week at 374,000 (prior week revised slightly higher). The 4-week average is 370,250 which is slightly higher than the prior week but slightly lower than the month-ago trend. This latter comparison points to marginal improvement for next week's August employment report. It was a relatively good month for the consumer. Income and spending were up and... 08/30/2012

San Luis Obispo's mortgage rate update for 8-29-2012.  The update is brought to us by Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California.  Go to my web site at www.myslohomefinder.com for all your home search needs. The Day Ahead: On GDP Day, Pending Home Sales , Beige Book Could Be Dark Horse Expectations were for a modest upgrade to second quarter GDP growth and that is what the markets got. Real GDP growth was revised up to 1.7 percent annualized, compared to an initial estimate of 1.5 percent and to 2.0 percent in the first quarter. The latest good news out of the housing sector is a 2.4 percent rise in the pending home sales index, a gain that points to further improvement for existing home sales. Beige Book report later today. Since the Fed's put the ultimatum to ... 08/29/2012

Here is today's mortgage rate  update for San Luis Obispo.  It is from Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California.  Visit my web site at www.myslohomefinder.com for all your home search needs.   The Day Ahead: Home Prices up, Consumer Confidence down: Home prices are clearly on the recovery with S&P Case-Shiller reporting a 0.9 percent rise for its 20-city index. This is the fifth rise in a row and the fourth very strong rise in a row. The year-on-year rate, at plus 0.5 percent, shows its first positive reading in nearly 2 years. Gains sweep 18 of the 20 cities led by a sharp rebound for Detroit and a third straight monthly rebound for Atlanta. West Coast cities also show strong gains. Consumer Confidence is as weak as it's been since last year's government debt... 08/28/2012

Here is today's mortgage rate update brought to us by Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California. For your home search needs go to my web site at www.myslohomefinder.com The Week Ahead: Month Ends With Moderate Econ Data   Today: Dallas Fed Mfg Survey, prior -13.2%, consensus -6.%, Actual -1.6 Tuesday: The S&P/Case-Shiller 20-city home price index, prior 0.9%, consensus 0.4%. Consumer Confidence, prior 65.9, consensus 65.8. Wednesday: GDP prior 1.5%, consensus 1.7%. Pending Home Sales Index, prior -1.4%, consensus 1.0%. Beige Book, (This book is produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee. On each occasion, a different Fed district bank compiles anecdotal evidence on economic conditions from each of the 12 ... 08/27/2012

One personality trait I have noticed with great real estate agents is that they have a positive, can do mentality!  It appears to me that negativity is the mother of failure in our business!  Plus this positive attitude is contagious and rubs off on our fellow agents, clients, family members and the community.  I have attached a great article that speaks to this! It's by Harvey Mackay and it speaks to the positive attitude and loving what you're doing!     “If you love what you are doing, you will be successful." Albert Schweitzer       Happiness breeds success       By Harvey Mackay       What makes me happy? It's a question we all should ask ourselves periodically, since all of our actions should, in some way, be directed toward achieving happiness. Initially, thoughts of riches beyon... 08/24/2012

Today's mortgage rate update is brought to us by Bob Franklin at Wells Fargo Home Mortgage on the Central Coast of California in the city of Pismo Beach. For your search needs go to- www.myslohomefinder.com   The Day Ahead: Calendar Slows Down Into The Weekend         A second month of large aircraft orders fed a second month of large gains for total Durable Goods Orders which jumped 4.2 percent in July on top of a 1.6 percent jump in June. But when looking at orders excluding transportation equipment the story is one of softness with the reading at minus 0.4 percent following a downwardly revised minus 2.2 percent result in June. Dow is trading at 13,041 -16.06, the 10 yr bond is at 1.65 % from 1.67% Yesterday, . Currently mortgages are better from Yesterday   Conv. - 3.625%FHA. - 3.25... 08/24/2012

Here is the mortgage rate update for San Luis Obispo California.  Thank you Bob Franklin at Wells Fargo Home Mortgage for the update from his office in Pismo Beach. Visit my web site for your home search needs www.myslohomefinder.com   The Day Ahead: Jobless Claims, New Homes Sales, FOMC Minutes from yesterday The jobs market is improving, but only slowly. These are the not-so-bullish conclusions from weekly Jobless Claims data where initial claims for the August 18 week are up 4,000 for a second straight week to 372,000 (prior week revised 2,000 higher to 368,000). New Homes Sales are  up 3.6 percent in July to an annual unit rate of 372,000. This is 10,000 above the Econoday consensus and the best of the recovery outside of stimulus driven sales in the spring of 2010. July matches May... 08/23/2012

We have all received the phone calls from the telemarketers that represent this or that  blahblah.com site that claim they can give us all those leads for a $100 plus price tag per month.  Do any of these sites actually work?  I'm very skeptical of their claims and I have first hand experience they don't deliver on what they promise. Real estate professionals beware!  I have also done an informal survey of my fellow real estate professionals to see if they have any positive results, and I haven't talk to one yet that has. I have tried two of the services and I won't mention names, but they both claimed to more than pay for themselves with their leads.  The problem was that I didn't get one good lead from either.  The first .com national web site claimed to be number one in the nation wi... 08/22/2012

Today's mortgage rate update is brought to us by Bob Franklin at Wells Fargo Home Mortgage in Pismo Beach California. For all your MLS and home searches go to my web site www.myslohomefinder.com   The Day Ahead: Existing Home Sales, and FOMC Minutes Existing home sales rebounded 2.3 percent in July to a 4.47 million annual rate in a gain that partially reverses a 5.4 percent decline in June. The annual rate hit its recovery peak in January this year as warm weather spurred counter-seasonal buying. The rate has since been choppy, but hopefully the July gain will be the beginning of a new upswing. FOMC Minutes, The Federal Open Market Committee issues minutes of its meetings with a lag. The minutes of the previous meeting are reported three weeks after the meeting. Why Investors Care: The... 08/22/2012

California is balking at giving illegal alien youth drivers licenses.  Read the following article from www.calcoastnews.com Faced with fast and furious reaction to an earlier decision, the California Department of Motor Vehicles is reexamining its stated intent to issue driver’s licenses to young illegal immigrants who become part of the federal government’s deportation amnesty. (San Jose Mercury News) Last week, the agency became the first in the nation to declare its intent to issue those licenses, even as officials of other states announced they would not. But Monday, the DMV issued the following statement: “It appears that young people who receive federal deferrals will be eligible for California driver’s licenses, but it remains uncertain whether clarifying legislation or regulatio... 08/21/2012

Low rates are selling homes!  Here is the mortgage rate update brought to us by Bob Franklin at Wells Fargo Home Mortgage located in Pismo Beach California.  This update is sponsored by Prudential California Realty Fine Homes.  See my web site for all your home search needs www.myslohomefinder.com The Day Ahead: No Significant Data Scheduled  Dow is trading at 13,319 +48.06, the 10 yr bond is at 1.84 % from 1.80% Yesterday, . Currently mortgages are unchanged from Yesterday  Conv. - 3.75%FHA. - 3.5%       Make it a Great Day!!    Bob Franklin Mortgage ConsultantNMLSR ID 248760 Wells Fargo Home Mortgage  |  575 Price St, Suite 105  |  Pismo Beach, CA  93449MAC E2396-011Tel (805) 550-3395  |  Fax (877) 609-0926 Bob.Franklin@wellsfargo.com www.wfhm.com/Bob-Franklin  08/21/2012

Recent statistics released for the San Luis Obispo and Northern Santa Barbara County area say that there are about 900 home owners that are 120 days late on their mortgage.  So are the banks holding off on foreclosing until after the election or are they waiting to take these home back slowly? Here is a great article that talks about this from the Orange County Register. BY CATHY HANEY / FOR THE REGISTER By most measures the nationwide housing market appears to be improving. Irrespective of the positive indicators, skeptics often mention the existence of a "shadow inventory" of potential foreclosures – the millions of mortgages that are either in foreclosure or in default that could derail the housing marketADVERTISEMENT According to a recent article by Nick Timiraos that appeared in a ... 08/20/2012

Can California PERS retirement system pay for all the high priced retirements?  I doubt it with the poor returns they are getting!  A great article by Bloomberg is attached.  Go to this video to see who's retiring with the $100,000 a year retirements- http://www.news10.net/news/california/article/195206/430/Pricey-state-pensions-Whos-collecting-what--- The California Public Employees’Retirement System, the largest U.S. pension, is defending government workers against criticism of their benefits even while it risks losses as municipalities, faced with rising retirement costs, file for bankruptcy. The $239.1 billion fund is the largest creditor in bankruptcy cases filed by two California cities, Stockton and San Bernardino, since the end of June, with a total of $290.8 million at stake.  ... 08/20/2012

Here is Monday's mortgage rate update for 8/20/12.  Thanks to Bob Franklin at Wells Fargo Home Mortgage for the update, and thanks to our sponsor Prudential Fine Homes.  Never a better time to buy a fine home!   At my web site you can search for your home needs www.myslohomefinder.com  The Week Ahead: Exceptionally Light Calendar.  FOMC Minutes Today: No significant dataTuesday: No significant dataWednesday: Existing Home Sales, prior 4.37m, Consensus 4.5m. FOMC, (The Federal Open Market Committee)Thursday: Jobless Claims, prior 366k, Consensus 365k. New Home Sales, prior 350k, Consensus 362kFriday: Durable Goods Orders, prior 1.6%, Consensus 1.9%. Dow is trading at 13,255 -20.87, the 10 yr bond is at 1.80 % from 1.81% Friday, . Currently mortgages are slightly better from Friday   Conv... 08/20/2012