We hope everyone on Martha’s Vineyard stays safe and smart during the storm Sandy.
The State of Massachusetts has called this a “State of Emergency” and has listed some things on their site that we can do to keep updated and safe : http://www.mass.gov/alert/alertlanding.html. They have also mentioned an app that can help with information : http://www.mass.gov/eopss/agencies/mema/ping4/get-emergency-information-on-your-smartphone.html
The Red Cross also has an app called the First Aid App : http://www.redcross.org//mobile-apps/first-aid-app
The MV Times has updates here : http://www.mvtimes.com/2012/10/29/sandy-ae-storm-alerts-continuously-updated-13119/
And the Weather Channel is excellent : http://www.weather.com/weather/videos/news-41/top-stories-169/my-powers-out-now-what-31913
— Kerry Quinlan-Potter
We found an article from Sovereign Bank about the “Election Year Theory”. There are tons of “Election Year Theories” in various areas: mortgage, stocks, abortion, etc. The article we found from Sovereign Bank regarding Interest Rates posted the chart below.
So, is the Federal Reserve Board “under political pressure to keep interest rates stable or lower prior to an election in order to make it more attractive for voters to vote for the incumbent?” If the theory is true then mortgage rates would drop immediately after a presidential election. Is it true? According to the article, “History says no.”
||3 Months Before Election
||3 Months After Election
||6 Months After Election
|1972 – RICHARD NIXON (Republican)
|1976 – JIMMY CARTER (Democrat)
|1980 – RONALD REAGAN (Republican)
|1984 – RONALD REAGAN (Republican)
|1988 – GEORGE H.W. BUSH (Republican)
|1992 – BILL CLINTON (Democrat)
|1996 – BILL CLINTON (Democrat)
|2000 – GEORGE W. BUSH (Republican)
|2004 – GEORGE W. BUSH (Republican)
|2008 – BARACK OBAMA (Democrat)
Obviously due to the economy, the numbers have been low for a good stretch of time. We shall see what this election year brings.
Like every trade, Real Estate has it’s own lingo. While reading an article recently on the Real Estate Forecast for 2013 by a Forbes contributor, I noted after a couple paragraphs that some of the terminology may be outside the box for non-real estate readers.
So, here are a few definitions of words noted in the beginning of this article.
Short sales: This is when a real estate sale’s proceeds fall short of the balance of debts held against the property. The owner has to accept less than the amount owed in debt.
Shadow inventory: This can be real estate that is in foreclosure and not yet sold or homes that the owner will put on the market when the prices improve.
Upside-down mortgages: When the value of an asset used to secure a loan is less than the outstanding balance on the loan and the security is real estate with a mortgage, you end up with negative equity and the assets are “underwater”, then the loan/borrower with this mortgage would have an “upside down mortgage”.
If you are interested in talking real estate, feel free to contact me.
SOLD This week on Martha’s Vineyard. To discuss Real Estate on The Island contact Kerry Quinlan-Potter at Kerryqp@comcast.net
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We just wanted to say thanks to Katharine Q. Seelye at The New York Times for writing a lovely article on The Martha’s Vineyard Fishing Derby.
Surely no one could have done a better job. Excellent work Ms. Seelye.