The breath of recession?

The word is showing up more and more, and certainly there are enough signs out there. The banks and the government are busily crafting strategies to conceal the problems of the mortgage credit mess, instead of admitting to the problem and addressing it. It's just some more of the ostrich approach to problem solving. A disingenuous behavior we have come to expect. Note that oil prices are at record levels, and projected to go higher still. Oil prices directly influence the price of almost everything we buy, and indirectly, everything else. As previously noted, housing starts and permits are sharply lower, and locally, Johns Manville has announced the layoff of 62 people in the Willows facility. For those folks, it's a recession. National news talked about the high cost of everything impacting families, and reported one family whose pay check formerly lasted 4 days now lasting 2. Didn't anyone notice that 4 days was something short of a week? Rumor, as yet not announced officially, has Sierra Pacific idling their second shift. If true some more folks who would describe things as recession. You can pretty much follow the dominoes. Plants don't ship, trucks don't haul, stores don't sell, craftsmen don't work, etc. My peers would rather we don't mention these things, believing that a proper spin will make things better. We believe that knowledge is power, and that awareness results in fast on your feet responses to changing events. We want to be informed so our clients can be informed, and on that note, once more your attention is directed to a good source of information about the mortgage market and the credit markets generally, here.
One of the bright spots in the mortgage news is the interest of the Justice Dept. in the substantial sale of stock by the head man at Countrywide. It has only taken a year for the interest to be aroused.
The last of the sour notes. Sales for the month to date vs last year are at 61% in both Chico and Paradise/Magalia. Sales for Glenn County are dead even, but since there were only 2 recorded sales each year for the period, the celebration is a little muted.
Now the bright stuff. We have added three major national real estate sites to the growing list of those carrying our listed properties. This is big. We have added a link to a confidential free credit report (no sales pitches) to our web site. It's on our mortgage page. We have added access to Cyberhomes.com from our site for really elaborate property valuation and neighborhood information. This in addition to Zillow which has been on our site for some time, and we have increased the size and appearance of the Nolo website link which gives access to all kinds of legal help information, including how to sell your own home. We want our site to be a valuable real estate destination site for our market area. Saving money is smart business, and saving you money on home sales and mortgages is what we do. Interest rates are low, housing inventory is high. Selling a home is tough, but if we work together we can get it done. If you are one of those directly affected by current market conditions, call us. If there's a way to help you we'll save you as much as we can in the process.

As usual
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