September 2008

Market Turmoil Means Great Interest Rates...For Now

Friday, September 19th, 2008 at 3:55pm. 704 Views, 0 Comments.

With all the turmoil in the real estate and financial markets, there is one positive aspect to all...and that is lower interest rates. In the week following the announcement that the Government was going to bail out Fannie Mae and Freddie Mac, we saw mortgage interest rates drop over 1/2 point in some situations. I personally had a client who signed their loan documents last Friday, only to re-sign them again on Monday, which allowed them to realize a 1/3 point drop in their mortgage interest rate. 

Just last night we got news that the Government is going to take even further action to help stimulate the depressed housing market, which according to the experts is the root cause of the other other financial problems that the country is facing. We could…

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Eastmont Mall Getting a Makeover

Thursday, September 4th, 2008 at 10:53am. 743 Views, 0 Comments.

I was pleased to read this morning that Eastmont Mall is getting a facelift! It was purchased by an Oregon based company last year, and they have now begun a 5-6 million dollar renovation of the entire property. I'm anxious to see how it will look when completed. 

I vividly remember the days when Eastmont Mall was bustling, with large scale retail stores, and even a movie theatre at one time. Over the years it's been going down hill, with almost all the well known retail outlets leaving. In recent years, it has become more of a community center, with a health clinic and other social services such as computer training being offered.

In the circle of revitalization, we know that all things that are down must come up at some point, hopefully one day…

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