This is a great time to buy... Prices are the lowest in years!
Release Date: September 23, 2009 For immediate release Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.
With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that eonomic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve's purchases of $300 billion of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C.Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen
ZIP Code: 89436 Approximate Location Boundaries: 30 Minutes from Beautiful Lake Tahoe – 3 ½ Hours from San Francisco Bay Area
Location Characteristics: Located between the Sierra Nevada Mountain Range and the Great Basin. Beautiful mountain views, comfortable climate and modern lifestyle make this town the Biggest Little City in the World.
About Thomas A. Lee:
General Top 9% of Agents in Northern Nevada 2007 Resident of Northern Nevada/Lake Tahoe area since 1987 Over 20 Years of Extensive CPA, GAAP, Financial Planning, Spreadsheet Analysis Utilizing technologies to instantaneously inform and apprise clients continually Information systems designed to ensure an accurate and timely process “Technology has enabled me to provide more personalized service than ever before. I'm far more accessible to my clients, I can quickly provide them with better market information, and I can expose their properties within the marketplace much more effectively”.
Credentials Licensed Broker / Salesperson Bachelor of Science Degree, Accounting, San Francisco State University, California Realtor – Broker/Salesperson, National Association of Realtors, Graduate of the Realty 500 Diamond Training Course, Member of the Reno/Sparks Association of Realtors, §1031 Exchanges, Mastering Advanced §1031 Exchanges, Risk Management
Specialties Residential Homes, Listing and Sales Investment and Income Property, §1031 Exchanges Luxury and Executive Homes and Condos, REO Listings and Sales, Gated Communities Listing and Sales, Condos and Townhouses, Listing and Sales Land, Lots and Development, Listing and Sales Golf and Country Club Properties, Listing and Sales Residential Referral Specialist, Total area coverage including Lake Tahoe, Sparks, Reno, Carson City, Minden, Fernley, Fallon and Elko. Featuring full commercial and business brokerage services.
Expertise Investment and Income Property, 1031 Exchanges Residential Homes and Condos, Listing and Sales Luxury and Executive Homes and Condos, REO Listings and Sales, Gated Communities Listing and Sales, Condos and Townhouses, Listing and Sales Land, Lots and Development, Spreadsheet Analysis and Financial Planning
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
