What a Weekend. Now it's Monday

WOW! What a weekend and what a Monday!

Last Friday saw the House of Respresentatives pass the updated bailout/rescuse/corporate welfare bill. Our illustrious president signed it within hours of passage. I find it appalling that the House rejected it Monday, then the Senate adds $150B in “sweetners” aka pork, and the House turns around and approves it. Is there any responsibility left anywhere?

I was watching CNBC this morning when the CEO of Coldwell Banker was interviewed. Typical real estate executive interview. What got my attention was him acknowledging that “W” had just spoken and he was hoping that he would “inspire the nation with his words.” Are you kidding? The president with the lowest approval rating of all time? The only president in recent time where there is an industry promoting his last day in office?

Then comes along Richard Fuld, CEO of now bankrupt Lehman Brothers, in a hearing in front of the House Committee on Oversight and Government. This man could not even, or would not, answer questions about his compensation! It looked like he did not even know how much money he made. What? Who is that dumb? Chairman Waxman made the point that it looked like Fuld and others on Wall Street wanted to privatize gains and socialize losses – good point.

And now at Noon, we find the DJIA down around 700 points to a level not seen since 2003. Good news? Oil is down to around $90/barrell. 10 year Treasury Bond at about 3.46%. And the election is less than one month away.

I wish I knew what to make of all of this. What I am sure of is that there are great opportunities out there. Of course I am speaking from a real estate perspective. Mortgage rates are great. Yes you can still get one. Real estate prices are great.

Want to buy a car? I’ll bet you can get a great deal right now. Get your car loan at your credit union and go shopping.

Saving your money is good too. FDIC has raised it’s insurance limit to $250,000 as part of the bailout bill. Financial advisors will tell you now is the time to buy stocks and mutual funds “on sale”. (Good if you have a long term perspective).

Let’s all keep our wits about us as we go through this period. Turn off the TV and talk radio. Focus on what matters. Take another look at my posts on my BLOG through my website.

Make it a great day!


Roger A. Berger
206-650-7647
www.RogerBerger.com
Roger@RogerBerger.com


Roger Berger is a veteran real estate professional in both Sales and Lending. He specializes in the following cities: Federal Way, Kent, Auburn, Renton, Des Moines, Burien, West Seattle, Seattle, Tacoma, Browns Point, Puyallup, Sumner, and Lake Tapps. He provides services through Keller Williams Realty in Renton, WA and Matison Mortgage Professionals in Puyallup, WA.