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Deep Freeze

Posted on February 9th, 2011 by Richard. Categories: Nature

Winter this year has been a memorable one…with maybe the coldest couple of days and nights still to get through. I can’t remember a year when it’s being so iced-up as it has been this year. Walkways, driveways and streets are nearly impossible to clear. Manpower just isn’t worth the effort in most cases and won’t do the job anyway. They just have to wait for a warm-up to give an assist. But that’s coming. Every day it gets closer. The sun comes up a couple of minutes earlier every morning and sets a couple minutes later in the evening. It eventually adds up.

All in all it hasn’t been that difficult. I’m staying inside a little more than normal, but still getting everything done. The only thing I’ve really missed is being able to walk or run outside lately. It’s just too icy and not worth the risk of breaking or pulling something in order to do it. Instead, I adapt, and do other kinds of things inside.

My prediction. This is the turning point. Two more days, then the pendulum swings in the opposite direction…and it keeps getting warmer, all the way to Spring and beyond. Just like always, winter loosens it’s grasp a day at a time, and soon all it will be is a memory.

I’ll have photos like this to remind me.

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Mortgage Rate Changes

Posted on February 8th, 2011 by Richard. Categories: Financing

The rate charged for borrowing mortgage money has been trending up slowly from the low point in late summer 2010 of about 4.25% to around 5.25% as of today (02-08-11) for a conventional 30 year fixed-rate mortgage. That equates to an increase of about a $6/month for every $10,000 borrowed. That’s not a huge amount but could be significant the larger the loan amount. We knew the historically low interest rates last year weren’t going to continue. The economy and the market are strengthening. The cost of money is based on supply and demand just like any other commodity. The good news is that interest rates are still 5.25% for heaven’s sake…still very low. Homes are still very affordable with these rates, and there’s still time to take advantage of general value pricing in the market now. It’s anyone’s guess where rates are headed in the coming weeks or months, but a number of signs indicate an improving economy, and with it the housing market. It will be interesting to look back later this year and see what happened.

Mortgage Rate Update – For a look at current mortgage interest rates, see Today’s Rates.

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Winter Solar Spa

Posted on February 7th, 2011 by Richard. Categories: Just for Fun

This feathered Indianapolis resident and a number of their relatives were enjoying a sun bake at downtown’s exclusive outdoor solar spa. If the sun’s shinning and it’s the right time of day, the angle from the sun hitting the highly reflective bronze-colored windows of the tall building just to the north on Delaware Street beams down upon and raises the temperature significantly of certain spots on the brick courtyard patio at the City Market. It feels 15-20 degrees warmer than the outside air if you are in the right spot. That sounds great on a cold day like today. But thinking this through, what happens on a 95 degree day in August? There could be casualties! Sun-stroked pigeons who have innocently stumbled into the path of the solar flare.

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Spring Market Begins

Posted on February 5th, 2011 by Richard. Categories: Market Conditions

 


With a fresh snowfall on top of the ice layer that was already there, I admit it doesn’t look much like Spring now. But the Spring market already began when the calendar changed to February a few days ago. The seasonal pattern in the market here can be seen in this chart that represents residential sales activity in the 9 county greater Indianapolis metropolitan area over the last 15 months. Shown are the total number of homes on the market compared with the number of sales that pended in the same time period. 2010 was an unusual year in that the government stimulus package induced people to buy earlier in the year than they normally would have. Clearly evident are the sales which trailed off sharply after the effects of the stimulus package ran out in April. Usually the shape of that line for pended sales is more bell-shaped. Sales typically increase a little more each month beginning in February, peaking over the summer months, then declining as it approaches the end of the year.

When looking backwards like this, vision is always 20-20. While there are no crystal balls to see the future perfectly, expectations are that the sales pattern for 2011 will look more traditional, and there should be an increase in the number of sales in general. The economy continues strengthen along with public confidence which translates into more people buying, selling and moving.

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Warmup Coming Early

Posted on February 2nd, 2011 by Richard. Categories: Holidays

Yes, it’s Groundhog Day once again. Folklore has it that if it’s cloudy when a groundhog emerges from their burrow on this day, and therefore cannot see their own shadow, then they will leave their burrow, as winter will be ending soon. But if they see their shadow (ie. a sunny day) then they will go back inside their burrow as there will be six more weeks of winter. If the origin of a fact is “folklore”, then it’s got to be true, right?

I’m still wondering how a groundhog from a small town in Pennsylvania got to be the chief spokesman for all groundhogs, but anyway, here’s how it turned out this morning in Punxsutawney. An eyewitness account states that Phil emerged from his burrow, yawned and stretched, and then took a slow look around while scratching himself…and noticed that he did NOT see his shadow.

So it’s official. Winter will be history soon. If you look at what’s outside here now, then this prediction sounds pretty good. Perfect timing Phil.