Paso Robles Real Estate

Bernanke says rate “well positioned,” watching dollar

Federal Reserve Chairman Ben Bernanke Tuesday signaled he is finished cutting interest rates for now and has

turned his attention to concerns about inflation in the world’s foreign exchange markets in the wake of the U.S.

dollar’s 16 percent decline against the Euro over the past year. Speaking to the International Monetary

Conference, Bernanke stated that, “For now, policy seems well positioned to promote moderate growth and price

stability over time. We will, of course, be watching the evolving situation closely and are prepared to act as

needed to meet our dual mandate.”

Observers called Bernanke’s statement a “strong defense of the dollar” and a sign that the Fed believes a

weaker U.S. dollar would be detrimental. Declines over the past year against the Euro and more recent oil price

surges have increased fears of inflation. These fears are one reason the Fed is not expected to pare interest

rates further at least through October.

Bernanke called financial market conditions “strained” and reiterated that U.S. consumers face challenges from

declining home prices and stricter mortgage and other lending standards, a weaker job market and higher

energy costs. He added that economic growth will remain limited until home prices and the housing market

show clearer signs of stabilization.

To read the full story, please click here:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aPYwMe5KGlpM&refer=home

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So You Want To Buy That Home For Sale By Owner?

Whether you are a buyer planning to purchase a home in Paso Robles that is for sale by owner or an owner selling without the assistance of a REALTOR(R) there are a lot of items that you should be aware of.  Have a knowledgeable agent on your side can save you a lot of heart break down the road. Many sellers will offer disclosures of the property, but are they thinking of all there is to disclose?  Do they know the current codes virus what the home really is. 

• Wells not tested.
• Septic tanks - old and leaking - although it is not YET required these be checked - a good agent will suggest a buyer or seller have the tank pumped and inspected as part of the contract.
• Corners - what does this mean - it means you may not really know what you are purchasing.
• Smoke Alarms - all homes when they change ownership are to have current smoke alarms which feature a hush button.
• Water Heater strapping.

Many of the homes for sale by owner are older, one of the biggest reasons - the seller either owns the property out right allowing them to accept payments and carry a contract.  These sellers have the best intentions, they are not trying to be dishonest.  But, do they or the buyer know what issues can come up in the near future?  Do you the buyer know that septic tanks can be too close to wells or that a well can be contaminated?

These are just a couple of the issues I am often asked about too late… after the property is yours and after the problem is yours.  Negotiations in a contract are meant for more than the final price, they are meant to be sure that the buyer knows what they are buying.

Next time you make the decision to sell or buy a home make sure you do so with a knowledgeable agent.  I of course would love to have the opportunity to serve your Central Coast Real Estate needs.

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Toys for Tots

Our office was just award the top Real Estate office in Paso Robles for collecting the most toys for Toys For Tots.

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