Archive for October, 2008
Chattanooga Voters - It’s time to VOTE!
Categories: Chattanooga Real Estate News, Flavors of Chattanooga, Things to Do in Chattanooga
By David Israel, Business Manager
Everywhere you go and everyone you talk to lately seem to be discussing and thinking about next week’s election. I must say that this is a welcome focus because I believe that the most important issue today, besides the economy, is voting. Political views aside, everyone needs to vote because voting is a fundamental right given to us by the founders of our country and we all need to make sure that our vote counts.
Early voting in Chattanooga (Hamilton County) broke the record with over 67,500 people voting early; early voting records were shattered in every state that allows early voting. In Florida (where my folks live) people waited two hours or more just to early vote. I think it is great that citizens are so committed to making sure their vote gets counted. (My mother actually picked up an absentee ballot, filled it out and returned it rather than waiting in line; but she voted.) By all accounts, Tuesday will produce a record turnout across the United States unmatched in our lifetime.
This right should not be taken lightly, after all before 1920, Women didn’t have the right to vote, they had to fight for that right. The passing of the 19th Amendmentto the Constitution finally gave women the right to vote. There was also a time that blacks couldn’t vote and, if I recall correctly, the desire for freedom and representation led to the Declaration of Independence which started the Revolutionary War. Throughout our history people have fought and die to protect many things, among them the right to vote.
Some may try to convince you that your vote doesn’t matter. They’ll say something like, ”. . . this is a red state or this is a blue state so your vote won’t count.” Shame on anyone that tells your anything other than, your vote matters, your vote counts and you need to vote this year on November 4th.
So, my moral of the story (okay it’s a blog) is just get out and vote. Whether you are Democrat or Republican (by the way, the parties were listed in alphabetical order to be completely fair), whether you live in a ”blue state” or a “red state” (also alphabetical), female or male, religious or non-religious, and no matter the color your skin - we are all Americans that have been given the right to VOTE. Make sure that you are counted!
Okay . . . I’m getting off my soap box now. Have a great weekend and a wonderful election.
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Mortgage Rates Improve
Categories: Chattanooga Market Conditions, Mortgage and Finance
By Angel Sherlin, Greater Chattanooga Lending
While the headlines were focused on the poor performance of the stock market, mortgage rates improved moderately during a volatile week. Mortgage rates were helped by a couple of factors. Seeking to reduce risk, investors sold stocks and moved the funds into relatively safer Treasury bonds and government guaranteed mortgage backed securities. In addition, slower economic growth and lower energy prices reduced expectations for future inflation. More good news for the housing market came from the September Existing Home Sales report, which rose 5.5% from August to the highest annual rate since August 2007.
Another important development was a decline in Libor rates during the week. Libor rates are viewed as a primary indicator of credit market conditions. They are also an important benchmark for setting the rates on many consumer loans, including adjustable-rate mortgages. Libor rates shot higher during the credit crisis when financial institutions became reluctant to lend money to each other. The broad series of recent government actions brought Libor rates down closer to more normal levels.
A series of government officials made statements during the week, including Fed Chief Bernanke, former Fed Chief Greenspan, Treasury Secretary Paulson, and FDIC Chairman Bair. The common theme is that the government is ready to take further actions as needed to support the economy and financial markets. Broad support was seen for a second fiscal stimulus package. The decline in the housing market was a key factor in causing the credit crisis, and many proposals are under consideration to help stabilize the housing market and prevent foreclosures. The bottom line, though, is that it will take some time for economic conditions to improve.
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Chattanooga’s 9th Annual Grateful Gobbler Walk, Roll or Stroll
Categories: Chattanooga Community Events, Chattanooga Real Estate News, Things to Do in Chattanooga
The Grateful Gobbler is a non-competitive walk starting and ending at Collidge Park, where entertainment will be ongoing, as well as plenty of food and drink. Afterwards the historic Coolidge Park Carousel will be open - free for all participants. The Grateful Gobbler is a wonderful family event that will finish early enough so you can be home in time to see the Macy’s Thanksgiving Day Parade (on television), watch football and enjoy a delicious Thanksgiving Dinner.
History of the Grateful Gobbler Walk for the Homeless:
In November 2000, members of ten downtown congregations joined with the Homeless Coalition in organizing Chattanooga’s inaugural Thanksgiving Day walk for the homeless. All participants came together regardless of religious belief or background in order to work toward one common goal: helping some of the neediest individuals in our community. With this goal, additional congregations have been added each year, making this an event that is a Chattanooga tradition for many families.
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Five Halloween Safety Tips in Chattanooga
Categories: Chattanooga Real Estate News
By David Israel, Business Manager
I always remember the phrase we used to use as a child, “Trick or treat, smell my feet, give me something good to eat”. Today, many hand out healthier and better treats than we ever had as children. I remember my parents going with us when we were young and, as we got older, we would venture out on our own. Unfortunately, today’s society is larger with more dangers lurking than when I was a kid. So, it is very important that parents focus on safety this Halloween while being careful not to ruin the kid’s experience.
So, prepare well and use some of these
5 Tips for Trick or Treating this October 31st!
1. Plan your route in advance! Walk your neighborhood or other familiar neighborhoods and look for obstacles that might be dangerous or be annoying, like a broken sidewalk or limbs piled up next to the sidewalk.
2. Make sure your kids are have plenty of light! Consider using reflective tape on the back of their costume. Kids care about the candy and won’t mind the addition of reflective tap on their costumes.
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It’s Keen to be “Green” in Chattanooga
Categories: Chattanooga Real Estate News, Home Maintenance, Market Myths and Truths
By David Israel, Business Manager
Everyone around the world and in Chattanooga are going “green”, but what does it mean? Some people say that the term 
has become a buzz word for companies to capitalize on a movement to be able to charge more for products and services. Others feel that it is an ecological movement by the citizens of the world to clean up the mess we have made over the past century, and a few even call this movement just a “fad”! Kermit the Frog was actually the leading proponent of going green in the early 70’s saying, “It’s not easy being green”.
Personally, I think going ”green” is a way of life that is changing the world around us. As consumers of “stuff”, I really think that this movement is here to stay and hope that it will improve our lives. There are so many products that have come to market in the past couple of years, but do we really know if they are “green” and really what does it all mean to you and to me personally? We hear terms that builders are now building “Green Homes” under LEED Standards with Energy Star Appliances, and a reduction in the Carbon Footprint. This sounds wonderful, but what in the world are they talking about? Well, I was reading Georgia Realtor Magazine, September/October 2008, “Going Green Eco-Friendly Initiatives in Real Estate” Issue, and found a glossary of terms that gave me a better understanding of what all these terms and acronyms mean and I thought I would share them with you.
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Finally! Some Relief at the Pump!
Categories: Chattanooga Real Estate News
By Kacey Sides, Buyer Specialist
Even before hurricanes Gustav and Ike, gas station owners in the Chattanooga area warned us of the increase in prices to come - and they weren’t kidding! As of this past Saturday, we are finally seeing some decreasing prices at the pump.
Since the beginning of September, gas prices have soared to as much as $4.15 a gallon for regular unleaded gas. Not only did the prices increase, but at most stations you either had to wait in line, or search for a station that had some gas to sell! Although it has been frustrating, Chattanooga was not as hard hit as some of our neighbors in Georgia and North Carolina, who were also affected by the gas shortage.
With the end of the shortage in sight and with oil prices hovering around $85 a barrel, we’re hoping for prices to continue to drop. Currently, the lowest I noticed in our area is $3.06 a gallon for regular (which I never thought I’d be excited to see!). Other areas of the country are seeing prices well below $3 a gallon!
With as much driving as I do working with my buyers, I can see that all areas in Chattanooga are not as quick to give the lower prices to their consumers and, with consumers driving less, not everyone is aware that lower prices are literally just around the corner . I found a great web site to check the gas prices in the area to make sure I get the best available price.
http://autos.msn.com/everyday/gasstations.aspx?zip=&src=Netx
With this site you enter your zip code and it will give you the current gas prices in your area from the lowest to highest. I was amazed when I checked this morning that there is a gas station near my house still charging $3.87 a gallon! At that price it’s worth driving a few extra miles to get it for $3.07!! Avoiding those stations with the higher prices will not only save you money, but will send them a compelling message! Check out this site for your area today…you’ll be glad you did!
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