Archive for December, 2008

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Gulf Shores and Orange Beach, AL featured as a great destination by the New York Times!

A recent article in The New York Times Great Homes and Destinations section featured Gulf Shores and Orange Beach, Alabama.  While many of the readers here already know the treasure we have here in LA (Lower Alabama!), all readers will enjoy this timely article.

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Mortgage Bonds are trading slightly to the negative this morning, with stocks relatively flat as well.  There is no significant economic data due out today, so it should probably be pretty quiet in the financial markets.  At the pump, gas hit a 5 year low with a national average of $1.66 per gallon (just in time for holiday travel).

I don’t expect a lot of volatility this week since the exchange shuts down early for the holidays.  As you get ready for this holiday season, remember the things most important to you, and if your answer has the word Xbox anywhere in it, you should re-evaluate.  Have a Merry Christmas!!

  • 4.750% 30 Year Fixed
  • 4.750% 15 Year Fixed
  • 4.875% 30 Year Fixed FHA
  • 5.000% 30 Year Fixed VA

For more information about your loan, call Steve Russell with Primary Residential Mortgage at 850-221-8334. Or visit

Steve Russell

Mortgage Banker

Primary Residential Mortgage

850-497-6325 Office

850-221-8334 Cell

*Rates are subject to change without notice. Click here for the specifics on the rate quotes listed above.

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Boy…What a week!

We started out really well, then the fed meeting results came out with the lowest federal funds rate in the history of the federal reserve at .25%. That’s right, the banks are now borrowing their money at .25%. At one point on Tuesday, I was quoting rates at 4.75% with no points and 4.25% with 1% origination. Can you believe that?!

Then the air let out of the balloon on Wednesday as bond traders got nervous and we are back to the low 5% range with no points. Try not to cry over a terrible rate of 5% (wink), but the volatility in the market is a

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The Muddy Waters Blues Trail Marker was installed in Rolling Fork, MS recently.

The following is from the Lower Delta Partnership December 2008 Newsletter:

On Wednesday, December 3 at 10:30 a.m., Rolling Fork joined the Mississippi Blues Trail with a marker
dedicated to McKinley Morganfield, a.k.a. Muddy Waters. The marker dedication will take place near the corner of Martin Luther King Blvd. and Walnut Streets in Rolling Fork; the public was invited.

Born April 4, 1915, near Rolling Fork, MS Blues great, Muddy Waters, took Chicago by storm in the late

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Catch People in Your Web

Are you on the same wavelength
as your market?

Internet Lead Generation for Real Estate

Do you have the tools you need to capture and convert your online customers (and aren't they all online these days)?

Because technology is now a core part of our real estate businesses, I wanted to share SHIFT's Internet Lead Generation Model with you.

I would also love to tell you about all the technology training, tools and resources that Keller Williams Realty offers – all for just $10 a month. Customizable Websites, national IDX, not to mention free leads from all your listings on the Web.

I think SHIFT would offer you even more ideas and strategies for making the most out of your Web presence and Keller Williams Realty’s technology tools could put it all into action. Are you ready to make a shift? Let's get together soon! Call me.


Real Estate Career? –

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Agent Mountain Millionaire Systems Wealth Building Wednesdays
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Millionaire Real Estate Agent Charts and Graphs

Keller Williams Alabama Gulf Coast - Fairhope / Daphne, AL

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Mississippi – there’s no place like home!

   Posted by: Cal    in Stuff I llike

Only in Mississippi.  It’s all true, y’all!

1. You can properly pronounce Kosciusko, Ackerman, Gautier and Belzoni.

2. You think people who complain about the heat in their states are sissies.

3. A tornado warning siren is your signal to go out in the yard and look for a funnel.

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It is a tradition of Americans to look at the New Year with higher expectation and changes in habits.

In fact, more people traditionally join gyms than any other time of the year.
Business is no different and as leaders we must interrogate the reality of the market and see where we need to move and change how we are doing business.  The fantastic reality of the real estate industry is that money is always changing hands.  The challenge is to find them and do it quickly.

We know that the definition of insanity is doing the same thing and expecting

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Mortgage Rate Locks Are For Real

   Posted by: Cal    in Gulf Coast Mortgages

I think many borrowers are under the impression that a “rate lock” is just a verbal agreement that the loan officer and customer make and after saying it out loud and clicking your heels twice, the rate is locked.

In reality, there is a process involved with locking a rate that involves pulling credit, running the application for an approval, registering a loan number, and then running the file through a “pricing engine” to get and secure the actual rate lock based on market conditions.

Today, I had a customer that had been non-committal for the last couple of days shopping for the best rate.

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Washington DC Real Estate | Bethesda MD Real Estate

Well it is time for my friend Kevin Koitz to put his nose to the grind stone!  Serving the Washington DC Real Estate Market as well as Bethesda MD Real Estate Market, Kevin and his Koitz Group have been preparing for the arrival and departure of administrations regardless of who won any of the hundreds of elections.

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Christmas is near and Santa’s elves are hard at work delivering low mortgage rates for all the good boys and girls.  The Fed meets tomorrow and Wednesday with the expectation of dropping the federal funds rate by .50% virtually a lock.  In addition, analysts say there is nearly a 70% chance they will drop the federal funds rate by .75%.  Since the Federak Funds Rate is already at 1%, they are getting closer and closer to paying financial institutions to take money (wink, that will never happen).

Since the immediate reaction in the mortgage market to a reduction in the federal funds rate is often negative, be prepared for some volitility in the mortgage bond market this week.  The rates below are as of 4:00 Central Time on 12/15/08:

  • 5.000%  30 Year Fixed
  • 4.875%  15 Year Fixed
  • 5.000%  30 Year Fixed FHA
  • 5.000%  30 Year Fixed VA

For more information about your loan, call Steve Russell with Primary Residential Mortgage at 850-221-8334.  Or visit

*Rates are subject to change without notice.  Click here for the specifics on the rate quotes listed above.

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