"Just Thinking"

“Just Thinking”


On this day in 1867, the U.S. formally took possession of Alaska from Russia, marking Alaska Day and finalizing the Alaska Purchase that significantly expanded U.S. territory. Here are some scenic photos from the state.


My buddy Greg sent me a note last night that the owner of El Faro Restaurant is looking to sell the business after being broken into 3 times in October. Raymunda Ramirez has called El Faro a second home for the last 45 years, the first 20 as an employee and the next 25 as its owner. The first two burglaries happened over the first weekend of October and cost Ramirez $20,000 in loss and damages, By Sunday, October 13, the business had been broken into a third time. “I don’t want to sell it after all this time,” Ramirez says, “but it’s difficult living with the constant thought if someone is gonna do it again.”


El Faro on 20th and Folsom St, is an institution in San Francisco. I remember my first Super Burrito back in ’79, I was working for Mooney Glass while attending USF. Larry, said, “do you want to get a burrito for lunch”, I said, “a burrito? ok, let’s try it”. Let it suffice to say that my mind was blown, and El Faro’s became a regular stop and burrito shops began to pop up everywhere outside the mission in the following years. The only indictment that I had was that El Faro only sold Coke, so I would have to walk across the street and by a couple Diet Pepsis.


I understand that times change, so many of the old standards are no longer around and if you don’t know, you don’t know but they are missed. So many of my regular haunts are gone, sandwiches at American Poultry, Burgers at Dego Mary’s, the Lunch special at Hogans, Armanino’s Deli, Wiener Schnitzel at Speckmann’s, The Star Bakery on Church St, Alioto’s, Ceasar's, The US Restaurant, Capps Corner plus many more.


There are many reasons that businesses go out of business, but I think that it is truly a sign of the times that would cause Ramirez to look to sell El Faro. Crime without consequence, the police department being hamstrung by the politicians and the judges with their turnstile policies that have criminals back on the street before the ink on their arrest report has dried. The influx of homeless and illegals along with the abundance of drugs on the street have turned communities like the area around El Faro into crime zones.


Change is needed, but change starts at the top and the top needs to realize that a city runs on the taxes of the homeowners and the businesses these taxes load the coffers of city hall and these are the people that need to be protected. The broken window policy that New York employed during the Giuliani Mayoral reign along with Police Commissioner Bratton, the idea was to crack down on minor offenses, which was thought to lead to a reduction in overall crime, because the criminals that are doing the minor offenses are committing the major offenses. This doesn’t work if you allow criminals to steal up to $900 in merchandise without being charged.


Let me know what you think.

135 Bayview Ave.

Vallejo, CA 94590

Open House Sunday 11:00 - 2:00



Discover this inviting 4-bedroom, 2-bathroom home nestled in the sought-after Emerald Terrace neighborhood. The versatile layout offers ample living space, with two bedrooms upstairs, a third bedroom on the main level ideal for a home office, and a fourth bedroom on the lower level, perfect for a family or recreation room. Enjoy natural light and serene views from the dining room’s bay windows or take in the picturesque scenery from the kitchen. Conveniently located just minutes from shopping, dining, schools, and parks, this home offers easy access to Vallejo/SF Ferry, the Farmers Market, and major highways including 29, 37, 80, 780, and 680.



https://listings.nextdoorphotos.com/135bayviewavenue

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This Weeks Top Story

Top U.S. Metros to Watch as Mortgage Rates Fluctuate

A new study from Realtor.com® highlights the major U.S. real estate markets likely to see changes as a result of the Federal Reserve’s rate cut last month. 


In September, the 30-year fixed mortgage rate dropped to its lowest level since February 2023. 


Following the Fed’s announcement in September, Realtor.com® predicted that mortgage rates would stay in the low 6% range through the end of 2024, with further declines resulting in high-5% rates by spring 2025. 


Since then, following the latest jobs report, the 30-year fixed mortgage rate has once again increased past 6.50% and has continued to rise. 


As rates fluctuate in response to key economic indicators, metros with the highest shares of owner-occupied homes with a mortgage will feel the most impact. 


Having a mortgage with a low interest rate is a fantastic benefit to existing homeowners, but sometimes being in a great position can limit your options. Although mortgage rates have eased, market rates continue to exceed current rates for most homeowners keeping them locked in ‘golden handcuffs. In markets like Washington D.C. and Denver, Colorado, where almost 75% of owner-occupied homes have a mortgage, changes in market rates are likely to factor into buying and selling decisions for more homeowners. As mortgage rates decline, real estate sales activity is expected to pick up in these areas. Danielle Hale - Realtor.com® Chief Economist.


Impact of Mortgage Rate Reductions on Key U.S. Markets


While much depends on how mortgage rates respond to the Fed rate cut in the longer term, the reduced rate is expected to have a significant impact on real estate markets with the highest mortgage utilization—led by these five: 

  1. Washington-Arlington-Alexandria, DC-VA-MD-WV (74.7% of owner-occupied homes have a mortgage)
  2. Denver-Aurora-Lakewood, CO (72.4%)
  3. Raleigh-Cary, NC (72.0%)
  4. Virginia Beach-Norfolk-Newport News, VA-NC (71.0%)
  5. Portland-Vancouver-Hillsboro, OR-WA (69.8%)


In the top two markets—Washington, D.C., and Denver, CO—more than 70% of owner-occupied homes have outstanding mortgages, making them especially sensitive to changes in mortgage rates. 


As those rates drop to the low 6% range (hopefully by year’s end) and potentially the high 5% range by next spring, home sales activity is likely to increase as more buyers and sellers re-enter the market. 


For the sake of transparency, we’re not making a prediction here about mortgage rates. We’re presenting the data shared by both Realtor.com and Mortgage News Daily to highlight the impact of rate cuts, together with other factors influencing mortgage rates, on markets with the highest shares of mortgage utilization. 


And as we’ve seen, those factors can cause mortgage rates to change direction just as economists are revising their rate...

Finish - The Full Story


Posted by:

Sarah Lentz

October 9, 2024 

Housing Market

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Previous Newsletters

October 11th

Consumer Sentiment Hits 30-Month High as Mortgage Rate Optimism Grows

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October 4th

The Top Reasons Homeowners Are Selling in 2024

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September 27th

Housing Affordability Improves for the First Time Since 2020

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September 20th

Sellers with Real Estate Agents Make $79,000 More

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September 13th

7 in 10 Boomers Think Younger Generations Could Buy a Home if They "Tried Harder"

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September 6th

Election Year Real Estate Trends: Is Now (or Later) the Right Time to Buy or Sell?

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August 30th

How Transparent Markets Are Leading the Way in Real Estate

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August 23rd

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August 16th

The Housing Market Shift: Ivy Zelman’s Predictions On Prices

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August 9th

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August 3rd

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July 26th

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July 19th

How Would Trump Impact Housing Policy?.

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July 12th

Home Sale Prices Reach Record Highs For 9th Consecutive Week...

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~Other Top Real Estate Stories This Week~



"Current Mortgage Rates"

11th Annual Zombie Brew Crawl!

Come join us for the Antioch Fall Carnival located at the Antioch Fairgrounds from Oct 17-20.


We offer KIDDIE RIDES, FAMILY RIDES,

THRILL RIDES and SPECTACULAR RIDES



No charge for parking and admission.

Also GAMES including Gold Fish to Neptune's Fury, water Race, Break A Bottle to Baseball Toss, Bust One You Win, Balloons to NBA Jam Basketball. Each game is operated in accordance with PC 331 to 334.

FOOD CONCESSIONS a variety of foods, confections and drinks are available.

Enjoy America's "MIDWAY OF FUN" by Brass Ring Amusements.



https://midwayoffun.com/

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