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	<title>Gerri Russell's Charlottesville Real Estate Blog</title>
	<link>http://www.gerrirussell.com/blog</link>
	<description>Just another WordPress weblog</description>
	<pubDate>Sat, 03 May 2008 14:00:18 +0000</pubDate>
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		<title>Market Report</title>
		<link>http://www.gerrirussell.com/blog/2008/05/03/market-report-2/</link>
		<comments>http://www.gerrirussell.com/blog/2008/05/03/market-report-2/#comments</comments>
		<pubDate>Sat, 03 May 2008 14:00:18 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2008/05/03/market-report-2/</guid>
		<description><![CDATA[Below is a current report from Suntrust:
Market update      




















Rates ended the week  about .125 lower on fixed rates and .375 lower on ARMs, although rates are poised to go up on the better-than expected jobs report this morning.  












For a prime borrower (20% down, excellent credit scores, purchasing a primary residence with a quick closing) the FNMA 30-year fixed-rate [...]]]></description>
			<content:encoded><![CDATA[<p>Below is a current report from Suntrust:</p>
<p><strong><font face="Arial" color="#0000ff" size="2"><span style="font-weight: bold; font-size: 10pt; color: blue; font-family: Arial">Market update</span></font></strong><font face="Arial" color="#0000ff" size="2"><span style="font-size: 10pt; color: blue; font-family: Arial">      </p>
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<div><font face="Arial" color="#0000ff" size="2"><span style="font-size: 10pt; color: blue; font-family: Arial">Rates ended the week  about .125 lower on fixed rates and .375 lower on ARMs, although rates are poised to go up on the better-than expected jobs report this morning. </span></font><font color="#0000ff"><span style="color: blue"> </p>
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<div><font face="Arial" color="#0000ff" size="2"><span style="font-size: 10pt; color: blue; font-family: Arial">For a prime borrower (20% down, excellent credit scores, purchasing a primary residence with a quick closing) the FNMA 30-year fixed-rate is at  5.375 with 1.375 total points/origination (APR  5.916) or at 6.125 with zero points/origination fee (APR 6.144). </span></font> </p>
<p><font face="Times New Roman" size="2"><span style="font-size: 10pt"> </span></font><font face="Arial" color="#0000ff" size="2"><span style="font-size: 10pt; color: blue; font-family: Arial">If you don&#8217;t have 20% to put down and/or have credit scores below 720 they may find the pricing on the FHA 30-year fixed more attractive, currently 6.0 with  .625% total origination fee (6. 207 APR).</span></font><em><em><font face="Arial" color="#ff0000" size="2"><span style="font-size: 10pt; color: red; font-family: Arial">  </span></font></em></em><font face="Arial" color="#0000ff" size="2"><span style="font-size: 10pt; color: blue; font-family: Arial"> </span></font> </p>
<p><font face="Times New Roman" size="3"><span style="font-size: 12pt"> <font face="Arial" color="#0000ff" size="2"><span style="font-size: 10pt; color: blue; font-family: Arial">Next week will be fairly quiet in terms of economic releases. The NAR reports pending home sales on Wednesday. The 10-year Treasury note auction announced last week happens Wednesday. Weekly jobless claims are reported Thursday, and we have wholesale and international trade data Thursday and Friday. Rates are attractive, sales prices are attractive- what are you buyers waiting for? </span></font>  </p>
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		<title>Last Week in Review</title>
		<link>http://www.gerrirussell.com/blog/2008/04/21/last-week-in-review/</link>
		<comments>http://www.gerrirussell.com/blog/2008/04/21/last-week-in-review/#comments</comments>
		<pubDate>Mon, 21 Apr 2008 13:52:06 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2008/04/21/last-week-in-review/</guid>
		<description><![CDATA[

 












&#8220;THERE IS NOTHING WRONG WITH CHANGE, AS LONG AS IT IS IN THE RIGHT DIRECTION.&#8221; ~ Winston Churchill. And there were some big changes indeed for Bonds and home loan rates last week - but not necessarily all in the &#8220;right direction&#8221;. For most of the week, Bond prices were pummeled lower, causing home loan [...]]]></description>
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<td><font face="Times New Roman" size="3"><img id="_x0000_i1030" height="1" src="http://www.gerrirussell.com/blog/cid:image006.gif@01C8A38A.2F877540" width="800" border="0" /><br />
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<p><font face="Times New Roman" size="3"><span lang="EN" /></font><!-- BEGIN SECTION_1_CONTENT --></p>
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<td><strong><strong><font face="Arial" color="#000000" size="2">&#8220;THERE IS NOTHING WRONG WITH CHANGE, AS LONG AS IT IS IN THE RIGHT DIRECTION.&#8221; ~ </font></strong></strong><em><strong><em><font face="Arial" color="#000000" size="2">Winston Churchill.</font></em></strong></em><font face="Arial" color="#000000" size="2"> And there were some big changes indeed for Bonds and home loan rates last week - but not necessarily all in the &#8220;right direction&#8221;. For most of the week, Bond prices were pummeled lower, causing home loan rates to rise - <strong><strong><u><font face="Arial">and even after a Friday afternoon rally, home loan rates worsened by about .25% for the week overall.</font></u></strong></strong><br />
</font><font face="Arial" color="#000000" size="2">One silver lining&#8230;some of the abuse that Bonds took was at the hands of somewhat positive economic news. Remember that positive or strong economic news tends to benefit Stocks, which in turn can pull money out of Bonds - which causes Bond prices to worsen and home loan rates to rise. So when news hit of a far better than forecast Retail Sales Report and much better than expected earnings reports from giants like Google, the financial markets responded by flowing money over into Stocks, and right out of Bonds, causing home loan rates to rise.<br />
</font><font face="Arial" color="#000000" size="2">Also hurting Bonds was inflation chatter during speeches made by several Federal Reserve Presidents, who vocalized their concerns over the persistence of inflation in the current economy. Additionally, the Producer Price Index showed wholesale inflation to be climbing higher, thanks to record high oil prices and a seventeen-year high on food prices. Because inflation erodes the value of the fixed return provided by a Bond, the scent of inflation in the air always causes Bond prices to decline, and as a result, home loan rates will rise.<br />
</font><font face="Arial" color="#000000" size="2">Even though Bond prices ended the week lower than they began, it is still a good time to take advantage of historically lower home loan rates before rising inflation continues to push rates higher. If you, or a friend, family member, neighbor or coworker needs advice on the latest changes in the market, please feel free to get in touch.<br />
</font><strong><strong><em><u><font face="Arial" color="#000000" size="2">ANOTHER KIND OF CHANGE IS COMING SOON, AS POSTAGE RATES WILL INCREASE ON MAY 12. BUT BELIEVE IT OR NOT&#8230;THE POSTAL SERVICE IS ACTUALLY OFFERING SOME PRICE REDUCTIONS TOO! GET THE WHOLE STORY - AND LEARN HOW YOU MIGHT SAVE SOME CHANGE - IN THIS WEEK&#8217;S MORTGAGE MARKET VIEW.</font></u></em></strong></strong><font face="Arial" color="#000000" size="2"><br />
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<td><strong><font face="Arial" color="#0066cc" size="2">Forecast for the Week </font></strong><img id="_x0000_i1031" height="8" src="http://www.gerrirussell.com/blog/cid:image005.gif@01C8A38A.2F877540" width="4" border="0" /></td>
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<td><font face="Times New Roman" size="3"><img id="_x0000_i1032" height="1" src="http://www.gerrirussell.com/blog/cid:image006.gif@01C8A38A.2F877540" width="800" border="0" /><br />
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<td><font face="Arial" color="#000000" size="2">After last week&#8217;s barrage of economic news, the calendar will quiet down this coming week. However, we will get a good look at the housing market via the Existing Home Sales Report on Wednesday, and the New Home Sales Report on Thursday - as well as a read on Durable Goods Orders.<br />
</font><font face="Arial" color="#000000" size="2">What are those &#8220;durable goods&#8221; anyways? Simply put, they are items that are durable, or made to last longer than three years, such as cars, furniture, electronics, appliances, business equipment, games, cameras, etc. This report shows a good measure of consumer and business consumption and buying behavior, and depending on the health of the report, could bring some activity to the volatile financial markets.<br />
</font><font face="Arial" color="#000000" size="2">As you can see in the chart below, Bond prices ended the week with a move higher from a &#8220;floor of support&#8221; at the 200-day Moving Average&#8230;but are now headed back towards an overhead &#8220;ceiling of resistance&#8221; which could stop their progress higher. Remember that when Bond prices move higher, home loan rates move lower&#8230;and vice versa. <strong><strong><u><font face="Arial">If the news of the coming week isn&#8217;t Bond-friendly enough to help them bash their way through the overhead ceiling, Bond prices and home loan rates may worsen once again.</font></u></strong></strong><br />
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<td><strong><font face="Arial" color="#0066cc" size="2">The Mortgage Market View&#8230;</font></strong> <img id="_x0000_i1034" height="8" src="http://www.gerrirussell.com/blog/cid:image005.gif@01C8A38A.2F877540" width="4" border="0" /></td>
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<td><font face="Times New Roman" size="3"><img id="_x0000_i1035" height="1" src="http://www.gerrirussell.com/blog/cid:image006.gif@01C8A38A.2F877540" width="800" border="0" /><br />
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<td><strong><strong><font face="Arial" color="#000000" size="2">A PENNY FOR YOUR THOUGHTS</font></strong></strong><font face="Arial" color="#000000" size="2"><br />
</font><font face="Arial" color="#000000" size="2">Starting May 12th, it&#8217;ll cost you one extra little penny to mail someone your thoughts. That&#8217;s right&#8230;the US Postal Service is getting ready to make some price changes, and the biggest change for most consumers will be a price increase for First Class stamps from 41c to 42c.<br />
</font><font face="Arial" color="#000000" size="2">The news isn&#8217;t all bad, though. That&#8217;s because for the first time in the history of the US Postal Service, the new pricing structure will include online price reductions, rebates, commercial volume and contract prices, as well as several other new incentives. The heat must be on the USPS to be competitive in pricing, as according to Postmaster General John Potter: &#8220;These innovative pricing incentives will make our products more attractive to all shippers, especially small businesses. We&#8217;re pricing our products to sell in today&#8217;s competitive shipping market.&#8221;<br />
</font><font face="Arial" color="#000000" size="2">The information below can help you plan for your postal expenses - and figure out a few ways that you can save - starting next month.<br />
</font><strong><strong><font face="Arial" color="#000000" size="2">New Prices as of May 12</font></strong></strong><font face="Arial" color="#000000" size="2"><br />
</font><font face="Arial" color="#000000" size="2">Consistent with <a title="blocked::http://www.usps.com/postallaw/welcome.htm http://www.usps.com/postallaw/welcome.htm" href="http://www.usps.com/postallaw/welcome.htm" target="_blank">The Postal Accountability and Enhancement Act</a>, the average increase of the prices is at or below the rate of inflation as measured by the Consumer Price Index. Here&#8217;s what the new pricing will be:<br />
</font><font face="Arial" color="#000000" size="2">First-Class Mail letter 1 oz. = 42c (current price = 41c)<br />
First-Class Mail letter 2 oz. = 59c (current price = 58c)<br />
Postcard = 27c (current price = 26c)<br />
Certified Mail = $2.70 (current price = $2.65)<br />
First-Class Mail International to Canada and Mexico 1 oz. = 72c (current price = 69c)<br />
First-Class Mail International to all other countries 1 oz. = 94c (current price = 90c)<br />
</font><strong><strong><font face="Arial" color="#000000" size="2">Ways to Save&#8230;</font></strong></strong><font face="Arial" color="#000000" size="2"><br />
</font><strong><strong><font face="Arial" color="#000000" size="2">Forever Stamps —</font></strong></strong><font face="Arial" color="#000000" size="2"> Last year, the US Postal Service introduced Forever Stamps&#8230; and this is your chance to reap the rewards! You can purchase Forever Stamps prior to May 12 at the lower 41c rate, and then use them even after the price change. Forever Stamps are widely available through Post Offices, Contract Postal Units, consignment locations, Automated Postage Centers, and <a title="blocked::http://www.usps.com/shop/welcome.htm http://www.usps.com/shop/welcome.htm" href="http://www.usps.com/shop/welcome.htm" target="_blank">The Postal Store<sup title="blocked::http://www.usps.com/shop/welcome.htm">®</sup></a>. To help meet increased demand before the price change, the US Postal Service plans to have 5 Billion Forever Stamps in stock. So you shouldn&#8217;t have any problems getting your hands on them.<br />
</font><font face="Arial" color="#000000" size="2">In addition to Forever Stamps, the US Postal Service is introducing all new ways to help you save, including the following new incentives:<br />
</font><strong><strong><font face="Arial" color="#000000" size="2">Express Mail —</font></strong></strong><font face="Arial" color="#000000" size="2"> With the new &#8220;zone-based pricing system,&#8221; you&#8217;ll pay less when you send a letter to a nearby destination using Express Mail. You can also save 3 percent when you purchase Express Mail online or through a corporate account. Finally, additional price reductions are available if you ship quarterly minimums.<br />
</font><strong><strong><font face="Arial" color="#000000" size="2">Priority Mail —</font></strong></strong><font face="Arial" color="#000000" size="2"> The new pricing structure includes a provision to help you save an average of 3.5 percent when you use electronic postage or meet other requirements.<br />
</font><strong><strong><font face="Arial" color="#000000" size="2">Parcel Select —</font></strong></strong><font face="Arial" color="#000000" size="2"> Large- and medium-size shippers will receive pricing and volume incentives under the &#8220;last mile&#8221; delivery provision.<br />
</font><strong><strong><font face="Arial" color="#000000" size="2">Parcel Return Service —</font></strong></strong><font face="Arial" color="#000000" size="2"> A new weight-based pricing system will result in significant price reductions for the return shipping of lighter packages.<br />
</font><strong><strong><em><font face="Arial" color="#000000" size="2">You can learn more about the new pricing structure at <a title="blocked::http://www.usps.com/prices http://www.usps.com/prices" href="http://www.usps.com/prices" target="_blank">www.usps.com/prices</a>, and you can purchase Forever Stamps at your local Post Office or online at <a title="blocked::http://www.usps.com/shop/welcome.htm http://www.usps.com/shop/welcome.htm" href="http://www.usps.com/shop/welcome.htm" target="_blank">The Postal Store<sup title="blocked::http://www.usps.com/shop/welcome.htm">®</sup></a>.</font></em></strong></strong><font face="Arial" color="#000000" size="2"><br />
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<td><strong><font face="Arial" color="#0066cc" size="2">The Week&#8217;s Economic Indicator Calendar</font></strong></td>
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<div><strong><strong><u><font face="Arial" color="#000000" size="2">Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.</font></u></strong></strong><font face="Arial" color="#000000" size="2"><br />
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<p><!-- BEGIN ECON_CAL --><strong><font face="Arial" color="#000000" size="2">Economic Calendar for the Week of April 21 – April 25<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">ET<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">Economic Report<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">For<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">Estimate<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">Actual<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">Prior<br />
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<td bgcolor="#00ccff"><strong><font face="Arial" color="#000000" size="2">Impact<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Wed. April 23<br />
</font></td>
<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">10:00<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Existing Home Sales<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Mar<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">4.95M<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2"> <br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">5.03M<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Moderate<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Wed. April 23<br />
</font></td>
<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">10:30<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Crude Inventories<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">4/19<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">NA<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2"> <br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">-2356K<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Moderate<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Thu. April 24<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">08:30<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Durable Goods Orders<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Mar<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">0.1%<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2"> <br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">-1.7%<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Moderate<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Thu. April 24<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">08:30<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Jobless Claims (Initial)<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">4/19<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">375K<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2"> <br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">372K<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Moderate<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Thu. April 24<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">10:00<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">New Home Sales<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Mar<br />
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<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">585K<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2"> <br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">590K<br />
</font></td>
<td bgcolor="#66ff99"><font face="Arial" color="#000000" size="2">Moderate<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Fri. April 25<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">Apr<br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2"> <br />
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<td bgcolor="#ffff99"><font face="Arial" color="#000000" size="2">63.2<br />
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<td><font face="Arial" color="#000000" size="2"><span /></font><font face="Arial" color="#000000" size="1">The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.<br />
</font><font face="Arial" color="#000000" size="2"><span /></font><strong><font face="Arial" color="#000000" size="1">As your trusted advisor, I am sending you the <em>MMG WEEKLY</em> because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.<br />
</font></strong><!-- THIS OPTION VISIBLE WHEN UNSUB_EMAIL IS SELECTED --><font face="Arial" color="#000000" size="2"><span /></font><strong><font face="Arial" color="#000000" size="1">In the unlikely event that you no longer wish to receive these valuable market updates, please <a title="blocked::mailto:pmahone@cstone.net?subject=REMOVE&#038;body=Please remove me from your list mailto:pmahone@cstone.net?subject=REMOVE&#038;body=Please%20remove%20me%20from%20your%20list" href="mailto:pmahone@cstone.net?subject=REMOVE&#038;body=Please%20remove%20me%20from%20your%20list" target="_blank"><font title="blocked::mailto:pmahone@cstone.net?subject=REMOVE&#038;body=Please remove me from your list" color="#0066cc" size="1"><span title="blocked::mailto:pmahone@cstone.net?subject=REMOVE&#038;body=Please remove me from your list">USE THIS LINK</span></font></a> or email: pmahone@cstone.net<br />
</font></strong><!-- THIS OPTION VISIBLE WHEN UNSUB_ADDRESS IS SELECTED --><font face="Arial" color="#000000" size="2"><span /></font><strong><font face="Arial" color="#000000" size="1">If you prefer to send your removal request by mail the address is:<br />
</font></strong><font face="Arial" color="#000000" size="2"><span /></font><strong><font face="Arial" color="#000000" size="1">Philip Mahone<br />
Mahone Mortgage,LLC<br />
685 Berkmar Ct,<br />
Charlottesville, VA 22901<br />
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		<title>Market Report</title>
		<link>http://www.gerrirussell.com/blog/2008/04/17/market-report/</link>
		<comments>http://www.gerrirussell.com/blog/2008/04/17/market-report/#comments</comments>
		<pubDate>Thu, 17 Apr 2008 11:36:17 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2008/04/17/market-report/</guid>
		<description><![CDATA[2008 1st
Quarter Market Report

A Recipe That’s Hard to Swallow

By Dave Phillips, CEO
Charlottesville Area Association of REALTORS®

Have you ever stood in your kitchen, felt a creative surge and decided to “invent” a new recipe that will land you a “celebrity guest” spot on one of Rachael Ray’s shows on the Food Network? Okay, maybe that’s just [...]]]></description>
			<content:encoded><![CDATA[<p align="left"><font color="#00008b"><strong>2008 1</strong><font face="TimesNewRomanPS-BoldMT" size="4"><strong>st<br />
</strong></font><font face="TimesNewRomanPS-BoldMT" size="6">Quarter Market Report</font></font></p>
<p><em><font face="TimesNewRomanPS-BoldItalicMT" size="5"></p>
<p align="left">A Recipe That’s Hard to Swallow</p>
<p></font></em><font face="TimesNewRomanPSMT" size="1"></p>
<p align="left">By Dave Phillips, CEO</p>
<p align="left">Charlottesville Area Association of REALTORS®</p>
<p></font><font face="TimesNewRomanPSMT"></p>
<p align="left">Have you ever stood in your kitchen, felt a creative surge and decided to “invent” a new recipe that will land you a “celebrity guest” spot on one of Rachael Ray’s shows on the Food Network? Okay, maybe that’s just me. Sometimes the recipe turns out well, like my yogurt-mustard sauce to accent a tuna steak, but other times, like my Pumpkin Meatloaf, the recipe is a bit hard to swallow.</p>
<p align="left">The local Charlottesville area real estate market is a lot like my Pumpkin Meatloaf – a combination of ingredients that don’t work well together. Like a good recipe, a good real estate market is one that features a good balance of ingredients. If you put in a little too much of one ingredient, the dish may not taste very good; however, if you put in way too much of that ingredient, the dish becomes unpalatable. The recipe for the Charlottesville area real estate market has way too much of one ingredient – supply of homes for sale – and that has created an unbalanced recipe that is hard to swallow.</p>
<p></font><strong><font face="TimesNewRomanPS-BoldMT"></p>
<p align="left"><font color="#0000ff" size="4">Overview</font></p>
<p></font></strong><font face="TimesNewRomanPSMT"></p>
<p align="left">As reported in the 2007 Year-End Market Report, the local (and national) real estate market slowed down quickly during the second half of 2007. That slowdown continued into the first quarter of 2008, but there are some signs of improvement. What has NOT improved is the oversupply of homes on the market. In addition, many of these homes have been on the market for a long time, indicating that they are still priced too high for the current market. On a positive note, our market appears to have only minimal problems with defaults, foreclosures and short sales. These issues are present in the local market, but they are not the significant problem being felt in other states and localities.</p>
<p></font><strong><font face="TimesNewRomanPS-BoldMT"></p>
<p align="left">Homes Sold</p>
<p></font></strong><font face="TimesNewRomanPSMT"></p>
<p align="left">There were 557 homes sold in the first quarter of 2008, which was down 210 (-27.4%) from the first quarter 2007. All local areas (Albemarle -40%, Charlottesville -7.1%, Fluvanna -26.4%, Greene -27.5%, Louisa -14.3%, and Nelson -35.6%) posted lower sales than the same period last year. This is the lowest number of sales reported in the MLS for the first quarter since 2000.<br />
<em>written by DAVE PHILLIPS&#8230;.Charlottesville Area Association of Realtors</em></p>
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		<title>Whether a Buyer or Seller - Now is the time to Act.</title>
		<link>http://www.gerrirussell.com/blog/2008/04/07/whether-a-buyer-or-seller-now-is-the-time-to-act/</link>
		<comments>http://www.gerrirussell.com/blog/2008/04/07/whether-a-buyer-or-seller-now-is-the-time-to-act/#comments</comments>
		<pubDate>Mon, 07 Apr 2008 12:25:04 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2008/04/07/whether-a-buyer-or-seller-now-is-the-time-to-act/</guid>
		<description><![CDATA[
Market update
Rates ended the week lower than they have been in some time. This is a great time for your clients to lock in their rate.  
As usual there are a host of economic releases next week which will affect interest rates and the stock market, and may influence our clients&#8217; confidence and desire to [...]]]></description>
			<content:encoded><![CDATA[<div>
<div><strong><font face="Arial" size="2"><span style="font-weight: bold; font-size: 10pt; font-family: Arial">Market update</span></font></strong><br />
<font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">Rates ended the week lower than they have been in some time.<em><span style="font-style: italic"> This is a great time for your clients to lock in their rate. </span></em></span></font> </p>
<p><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">As usual there are a host of economic releases next week which will affect interest rates and the stock market, and may influence our clients&#8217; confidence and desire to move forward with a home purchase. We all know that a constant drumbeat of bad news harms our business efforts by reducing consumers&#8217; willingness to buy, spend, or take any sort of financial risk. Much of the news reported in the media is ill-informed, biased, sensationalized to get attention or just plain wrong. When you see the media reporting on</span></font><em><span style="font-style: italic"> </span></em><em><font face="Arial" size="2"><span style="font-size: 10pt; font-style: italic; font-family: Arial">your</span></font></em> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">area of expertise do you notice how incorrect the information they present is?  You can help your clients by pointing this out. They know that the media is wrong about</span></font><em><span style="font-style: italic"> </span></em><em><font face="Arial" size="2"><span style="font-size: 10pt; font-style: italic; font-family: Arial">their</span></font></em> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">area of expertise, but they don&#8217;t know it&#8217;s wrong about</span></font><em><span style="font-style: italic"> </span></em><em><font face="Arial" size="2"><span style="font-size: 10pt; font-style: italic; font-family: Arial">yours</span></font></em><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">- real estate. You can gain their trust, loyalty and referrals if you set youself apart by showing them how</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">informed you are about your field.</span></font> </p>
<p><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">It is a</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">very good time to buy- mortgage interest rates are low and we still have some great programs, but lenders are tightening and buyers are going to have to come up with larger down-payments very shortly. Even if prices come down many borrowers will have to come up with more cash. If your sellers want to sell in the next year or two NOW is the time (at the right price). Waiting isn&#8217;t going to pay off</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">for buyers OR sellers<font color="#0000ff"><span style="color: blue">.</span></font></span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">Many people don’t realize that failing to accept risk and just</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">sitting tight waiting for things to get better is a risk in itself, in terms of lost opportunity.</span></font> </p>
<p><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">On Tuesday we&#8217;ll see Pending Home Sales (an NAR release on contracts signed and a good benchmark to compare your business momentum with nationwide trends) and on Wednesday we&#8217;ll have the Mortgage Bankers Association Purchase Money Applications on Wednesday (which serves the same function for us). Let&#8217;s hope that if these are weaker than expected the media won&#8217;t pick up on them, and if they&#8217;re strong we&#8217;ll hear all about it. That will get our buyers going- people are more willing to move forward if they see that others are doing it.</span></font> </p>
<p><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">The most important releases are International Trade Data and Jobless Claims on Thursday and Import/Export Prices on Friday along with the Consumer Sentiment survey. Import/Export and Trade Data show inflation trends (which have a significant impact on mortgage rates- inflation fears cause rates to rise),</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">and also indicate trends in</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">our budget deficit and the value of the dollar.</span></font> <font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">Consumer Sentiment is a leading indicator of consumers&#8217; willingness to spend, and with the huge influence that consumer spending has on our economy the markets are always very interested in this release and can be volatile in its aftermath.</span></font> </p>
<p><strong><font face="Arial" size="2"><span style="font-weight: bold; font-size: 10pt; font-family: Arial">Product update</span></font></strong><br />
<font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">Do you have first time home buyers looking for 100% financing? VHDA FHA Plus may be the product for them. It uses 2 FHA loans, a 97.75% first and a 5% second, for 100% financing plus closing costs. Seller contributions are allowed and your buyers only need to have 1% in the transaction OR in reserves. The rate today is 5.625% !! (APR 6.33) Ask your SunTrust team member for details</span></font> </p>
<p><font face="Arial" size="2"><span style="font-size: 10pt; font-family: Arial">Feel free to call us if you need pre-approvals, current rates, financing scenarios for your buyers. Mark and Ken are away, everyone else is available.</span></font> </div>
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<div><font face="Times New Roman" size="3"><span style="font-size: 12pt">LEGAL DISCLAIMER<br />
The information transmitted is intended solely for the individual or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of or taking action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer.<br />
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[ST:XCL]</span></font><font face="Courier"><span style="font-family: Courier"> </p>
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		<title>Top 7 Reasons to use a Buyer&#8217;s Agent</title>
		<link>http://www.gerrirussell.com/blog/2008/02/05/top-7-reasons-to-use-a-buyers-agent/</link>
		<comments>http://www.gerrirussell.com/blog/2008/02/05/top-7-reasons-to-use-a-buyers-agent/#comments</comments>
		<pubDate>Tue, 05 Feb 2008 17:29:48 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2008/02/05/top-7-reasons-to-use-a-buyers-agent/</guid>
		<description><![CDATA[Top 7 Reasons to Use a Buyer&#8217;s Agent When Purchasing Your Home by Eric Bramlett
 
Purchasing a home is a big step, and a big decision. The average person spends around 1/3 of their income on their home. The home that you choose has a big impact on your life, and can have a big impact [...]]]></description>
			<content:encoded><![CDATA[<p><font size="2">Top 7 Reasons to Use a Buyer&#8217;s Agent When Purchasing Your Home by Eric Bramlett</p>
<p> </p>
<p>Purchasing a home is a big step, and a big decision. The average person spends around 1/3 of their income on their home. The home that you choose has a big impact on your life, and can have a big impact on your finances, as well. It always surprises me when Buyers attempt to &#8220;go at it alone&#8221; because of the possibility of mistakes. A good Buyer&#8217;s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare.</p>
<p>1) Full Access to the MLS</p>
<p>The Multiple Listing Service (MLS) is a powerful tool that only Realtors have access to. When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase. The MLS is a database of all homes listed by Realtors, and represents roughly 99% of the homes for sale in any given market. As technology advances, so does the MLS.</p>
<p>It has evolved into an extremely powerful search engine that allows your buyer&#8217;s agent to enter in search criteria, and returns only homes that match those specific parameters. Buyers can find a lot of this information online through IDX feeds available on many websites, but this information is a &#8220;watered down&#8221; version of the MLS because the IDX search engines aren&#8217;t quite as powerful, and don&#8217;t return as detailed profiles as the MLS.</p>
<p>2) Maximize Your Time</p>
<p>While driving neighborhoods is an excellent idea to help you decide which locations you prefer, it&#8217;s not a very efficient way to find your new home. Gas is expensive, and your time is valuable. Your Buyer&#8217;s Agent will listen to your needs, make fantastic suggestions based on your likes &#038; dislikes, and provide you with a list of homes that ALL match your wants &#038; needs. Your Buyer&#8217;s Agent has helped MANY new homebuyers through MANY purchases, and will help you better organize your search &#038; decision making process </font><font face="Courier New" size="2">–</font><font size="2"> saving you valuable time.</font><font size="2">3) Representation</p>
<p>Listing Agents enter into legally binding agreements that require them to ALWAYS act in the best interest of the seller. They are the seller&#8217;s &#8220;coach&#8221; and will make sure that their clients&#8217; best interests are looked after. Luckily, your Buyer&#8217;s Agent is there to make sure YOUR best interests are accounted for. With your expert Buyer&#8217;s Agent in your corner, you can rest assured that you&#8217;re on, at least, even ground with the home seller. A football team would be at a pretty significant disadvantage without a coach </font><font face="Courier New" size="2">–</font><font size="2"> just as you would be without a Buyer&#8217;s Agent.</font><font size="2">4) Negotiating Power</p>
<p>The MLS maintains a record of, not only all homes listed by Realtors in a given market, but also the sales price of those homes. Your Buyer&#8217;s Agent will run a Comparative Market Analysis (CMA) to determine a prospective home&#8217;s Fair Market Value (FMV). In simpler terms, your Realtor will look at similar homes in the same neighborhood that have sold recently. This way, you will know whether or not the seller has their home priced fairly. If the home is priced over Fair Market Value, your Buyer&#8217;s Agent can present your &#8220;under asking price&#8221; offer with plenty of firepower </font><font face="Courier New" size="2">–</font><font size="2"> and a greater chance that the offer will be accepted.</font><font size="2">5) Experience</p>
<p>The average person buys 3-5 homes in their lifetime. A good Buyer&#8217;s Agent will assist in 3-5 home purchases every month. What might seem complicated and intimidating to you is fairly common and familiar to your Realtor. Your Buyer&#8217;s Agent will know what to expect, and will know when to alert you if anything out of the ordinary occurs.</p>
<p>6) Industry Contacts</p>
<p>It takes a lot of people to close a real estate transaction </font><font face="Courier New" size="2">–</font><font size="2"> Buyer&#8217;s Agent, Listing Agent, Loan Officer, Inspector, Appraiser, Insurance Agent, General Contractors, and sometimes more! A good agent will come with a strong closing team that has performed in the past, and will continue to perform. A transaction is only as strong as its weakest link </font><font face="Courier New" size="2">–</font><font size="2"> with your strong Buyer&#8217;s Agent &#038; their closing team, you can rest assured that you will have plenty of support.</font><font size="2">7) Piece of Mind</p>
<p>If you are like most people, your home is the largest purchase you will ever make. The average person spends around 1/3 of their total monthly income on their home. This is a big decision and you don&#8217;t want to go at it alone. When you use a trusted Buyer&#8217;s Agent, you know that your best interests are accounted for, and that you can feel confident in your purchase.</p>
<p>Purchasing a home can be a fun and exciting process. However, the home buying process can be intimidating, and mistakes are possible. A Realtor who specializes in working with Buyers can help alleviate the fears &#038; possibilities for mistakes. Make sure and use a Buyer&#8217;s Agent on any real estate transaction, and you will help ensure that you are making the right decisions.</p>
<p> </p>
<p> </p>
<p></font>
</p>
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		<title>Class On Older Horse a Success</title>
		<link>http://www.gerrirussell.com/blog/2007/11/14/class-on-older-horse-a-success/</link>
		<comments>http://www.gerrirussell.com/blog/2007/11/14/class-on-older-horse-a-success/#comments</comments>
		<pubDate>Thu, 15 Nov 2007 02:15:36 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2007/11/14/class-on-older-horse-a-success/</guid>
		<description><![CDATA[I was fortunate to attend the Caring for the Older Horse in Charlottesville, Virginia last week, which was held by the Virginia Cooperative Extension.  I found it to be very informative and easy to understand.  The material was very relevant and helpful.  I have two horses that are going to be 27 years old and [...]]]></description>
			<content:encoded><![CDATA[<p>I was fortunate to attend the Caring for the Older Horse in Charlottesville, Virginia last week, which was held by the Virginia Cooperative Extension.  I found it to be very informative and easy to understand.  The material was very relevant and helpful.  I have two horses that are going to be 27 years old and one that is 19.  I hate seeing them get older, but I am determined that they are going to enjoy their golden years. </p>
<p> One of the first questions asked that day was how old is a senior horse.  The answers were all over the place.  Some said 30 and others said 25.  The industry standard is 20 and over.  My mare is pushing 20, but she wouldn&#8217;t appreciate being called a senior.  She&#8217;s still as active as ever and enjoys a good hunt.  Some horses are still performing at 25. </p>
<p>If you ever get the chance to sit in on this class again, please treat yourself as well as your horses and come on out.
</p>
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		<title>Caring for the Older Horse Program</title>
		<link>http://www.gerrirussell.com/blog/2007/10/11/caring-for-the-older-horse-program/</link>
		<comments>http://www.gerrirussell.com/blog/2007/10/11/caring-for-the-older-horse-program/#comments</comments>
		<pubDate>Thu, 11 Oct 2007 18:31:53 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2007/10/11/caring-for-the-older-horse-program/</guid>
		<description><![CDATA[Virginia Cooperative Extension (VCE), with sponsorship from Southern States Cooperative, is offering an educational program on Caring for the Older Horse. The conference features expert advice from leading veterinarians and researchers and will be offered at two locations in Virginia&#8217;s horse country: November 8 in Charlottesville, Virginia, and November 9 in Front Royal, Virginia.
Topics include [...]]]></description>
			<content:encoded><![CDATA[<p>Virginia Cooperative Extension (VCE), with sponsorship from Southern States Cooperative, is offering an educational program on Caring for the Older Horse. The conference features expert advice from leading veterinarians and researchers and will be offered at two locations in Virginia&#8217;s horse country: November 8 in Charlottesville, Virginia, and November 9 in Front Royal, Virginia.</p>
<p>Topics include better preventative medicine, nutrition and management. This  program will help any horse owner or barn manager that currently cares for or will care for a geriatric horse. It is being offered in response to the growing number of older horses in the area and will provide the most up-to-date information on adequately caring for aging equines.</p>
<p>The November 8 Charlottesville Program will be held in the Department of Forestry Building from 8:00 a.m. to 3:30 p.m., and the November 9 Front Royal Program will be held at Celebration Hall in the North Warren Volunteer Fire and Rescue Building from 8:00 a.m. to 3:30 p.m. Early registration received by October 26 is $20; late registration is $25 and must be received by November 5.</p>
<p>The registration fee includes attendees&#8217; conference materials, lunch and refreshments. Both sites are easily accessible from major interstates and offer plenty of free onsite parking. For more information on the Charlottesville Program, please contact Carrie Swanson. Extension Agent at the Albemarle-Charlottesville VCE Office, (434) 872-4580 or <a href="mailto:cswanson@vt.edu">cswanson@vt.edu</a>. And for more information on the Front Royal Program, please contact Crystal Smith, Extension Agent at the Warren County VCE Office, (540) 635-4549 or crystal.smith@vt.edu.
</p>
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		<title>Celebrating Nearly 10 Years of Siamese Rescue</title>
		<link>http://www.gerrirussell.com/blog/2007/09/05/celebrating-nearly-10-years-of-siamese-rescue/</link>
		<comments>http://www.gerrirussell.com/blog/2007/09/05/celebrating-nearly-10-years-of-siamese-rescue/#comments</comments>
		<pubDate>Wed, 05 Sep 2007 18:15:19 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2007/09/05/celebrating-nearly-10-years-of-siamese-rescue/</guid>
		<description><![CDATA[The Siamese Cat Rescue Center located in Locust Dale, Virginia has adopted 5,040 cats within its 10 years of operation. The Center, serving primarily the east coast, began when Siri Zwemke, its director, and her family were looking for a Siamese cat for their home. During the process she found out that many Siamese cats [...]]]></description>
			<content:encoded><![CDATA[<p>The Siamese Cat Rescue Center located in Locust Dale, Virginia has adopted 5,040 cats within its 10 years of operation. The Center, serving primarily the east coast, began when Siri Zwemke, its director, and her family were looking for a Siamese cat for their home. During the process she found out that many Siamese cats end up in shelters and never make it to a loving home. This is when she decided to establish the Siamese Cat Rescue Center in Virginia. &#8220;Since then, it has snowballed into this gigantic thing,&#8221; she said. &#8220;With the assistance of volunteers all over the country, working together over the Internet, we&#8217;ve been able to make so many great matches between needy cats and wonderful, loving families.&#8221; &#8220;Siamese form exceptionally close bonds with their humans and may suffer enourmous grief and trauma when they lose their homes and end up in shelters,&#8221; Zwemke noted. &#8220;The Siamese personality is so different from the typical feline. In some ways they are more like a dog or small child in that they are highly intelligent, and they require much more attention than one might expect. Also, some of them are very vocal.&#8221; &#8220;But once they have a permanent home and they know you will love, honor and worship them, they will love you unconditionally,&#8221; she added.<br />
Many wonderful Siamese as well as other cats may be seen on the Siamese Cat Rescue Center website: <a href="http://va.siameserescue.org/">http://va.siameserescue.org/</a>.<br />
If you would like to contact the Center for additional information or to volunteer, call: 540-672-6373 or email: <a href="mailto:vasrc@siameserescue.org">mailto:vasrc@siameserescue.org</a>.
</p>
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		<title>Fall Pasture To-Do List</title>
		<link>http://www.gerrirussell.com/blog/2007/08/20/fall-pasture-to-do-list/</link>
		<comments>http://www.gerrirussell.com/blog/2007/08/20/fall-pasture-to-do-list/#comments</comments>
		<pubDate>Mon, 20 Aug 2007 20:11:56 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2007/08/20/fall-pasture-to-do-list/</guid>
		<description><![CDATA[Fall is a busy and important time of year for pasture care. Here is a list of things you can do in the next few months to keep your pastures looking great and give them a boost for next year.
1. Seed pasture and lawn grasses - August 15 to September 15 is the best time of [...]]]></description>
			<content:encoded><![CDATA[<p>Fall is a busy and important time of year for pasture care. Here is a list of things you can do in the next few months to keep your pastures looking great and give them a boost for next year.</p>
<p>1. Seed pasture and lawn grasses - August 15 to September 15 is the best time of year to seed or reseed your pastures. Common grass species used are timothy, orchard grass, and smooth brome. Turf type lawn grasses like Kentucky bluegrass can be used for higher traffic areas and serve as a good  base for your pasture.<br />
2. Take soil samples - See if your pastures need any nutrients. Any time from now until the ground freezes is a good time to take samples because the soils are drier and more stable. The plants have also taken up the majority of nutrients for the season. Contact your county Extension office or a university soils lab for a sample kit.<br />
3. Take manure samples - If you are going to fertilize your pastures with manure, sample the manure first so you know how much you should spread. The Department of Agriculture has a list of certified manure testing labs. Only spread manure on your pastures if you have more than two acres per horse. However, spreading additional manure (other than what the horse naturally leaves behind) on your pasture can result in greater chances of parasite exposure.<br />
4. Fertilize - Use manure, compost, or a commercial fertilizer. As stated in points 2 and 3, test your soils first so you know how much you need. Often, only nitrogen is needed in pastures since manure provides quite a bit of phosporus.<br />
5. Weed control - If you want to control perennial weeds with an herbicide, now is the time. Perennial plants are storing nutrients for winter in their roots. As the nutrients go into the roots, so will the herbicide, giving the best change for a successful kill. It is best to have mowed the perennials through out the summer so they are not so mature. Herbicides usually work best on re-growth or plants that are four to eight inches in height.<br />
6. Check fences - Make sure your fences are in good shape before winter.<br />
7. Rest the pasture - If you have a pasture that is over grazed, rest it for the rest of the year. This will give the grass a chance to store up nutrients for next year so the pasture will be healthier in the spring. On average, a pasture needs 30 days of rest after two or three weeks of grazing. However, this depends on time of year, number of horses, acreage, quantity and quality of forage, and soil fertility.<br />
Generally speaking, pasturing horses over winter causes damage to plants and offers the horse no nutrition. Keeping the horses in a sacrifice paddock where they have access to hay, water and shelter is preferred.<br />
8. Get ready to take animals off pastures during frosts, if that is common in your area - Hoof traffic after a frost can damage grasses. Have a sacrifice area set aside where the animals can be held until the grass thaws.</p>
<p>- by Betsy Gilkerson, Technical Advisor, University of Minnesota Extension Service.
</p>
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		<title>10 Tips for Choosing the Best Hay for Your Horse</title>
		<link>http://www.gerrirussell.com/blog/2007/07/10/10-tips-for-choosing-the-best-hay-for-your-horse/</link>
		<comments>http://www.gerrirussell.com/blog/2007/07/10/10-tips-for-choosing-the-best-hay-for-your-horse/#comments</comments>
		<pubDate>Tue, 10 Jul 2007 18:30:45 +0000</pubDate>
		<dc:creator>gerri</dc:creator>
		
		<category>Uncategorized</category>

		<guid isPermaLink="false">http://www.gerrirussell.com/blog/2007/07/10/10-tips-for-choosing-the-best-hay-for-your-horse/</guid>
		<description><![CDATA[High-quality hay can be an important source of essential nutrients in your horse&#8217;s diet. A horse&#8217;s protein and energy requirements depend on age, stage of development, metabolism and workload. A mature horse will eat 2 to 2.5 % of its body weight in a day, and for optimum health, nutritionists recommend that at least half [...]]]></description>
			<content:encoded><![CDATA[<p>High-quality hay can be an important source of essential nutrients in your horse&#8217;s diet. A horse&#8217;s protein and energy requirements depend on age, stage of development, metabolism and workload. A mature horse will eat 2 to 2.5 % of its body weight in a day, and for optimum health, nutritionists recommend that at least half of this should be roughage such as hay. For a 1000-pound horse, that means at least 10 pounds of roughage each day.</p>
<p>Hay generally falls into one of two categories - grasses or legumes. Legume hay is higher in protein, energy, calcium and vitamin A than grass hays. While hay alone may not meet the total dietary requirements of young, growing horses or those used for high levels of performance, high-quality hay may supply ample nutrition for less active adult horses.</p>
<p>Once you&#8217;ve determined the best category of hay for your horse, most people select hay based on how it looks, smells and feels. Use the following tips from the American Association of Equine Practitioners to select the best hay for your horse:</p>
<p> 1. It&#8217;s what&#8217;s inside that counts.<br />
Ask that one or several bales are opened so you can evaluate the hay inside the bales. Do not worry about slight discoloration on the outside, especially in stacked hay.</p>
<p>2. Choose hay that is as fine-stemmed, green and leafy as possible, and is soft to the touch.</p>
<p>3. Avoid hay that is overcured, excessively sun-bleached, or smells moldy, musty, dusty or fermented.</p>
<p>4. Select hay that has been harvested when the plants are in early bloom for legume hay or before seed heads have formed in grasses. Examine the leaves, stems and flowers or seed pods to determine the level of maturity.</p>
<p>5. Avoid hay that contains significant amounts of weeds, dirt, trash or debris.</p>
<p>6. Examine hay for signs of insect infestation or disease. Be especially careful to check for blister beetles in alfalfa. Ask the grower about any potential problems in the region.</p>
<p>7. Reject bales that seem excessively heavy for their size or feel warm to the touch, as they could contain excess moisture that could cause mold, or worse, spontaneous combustion.</p>
<p>8. When possible, purchase and feed hay within a year of harvest to preserve its nutritional value.</p>
<p>9. Store hay in a dry, sheltered area out of the rain, snow and sun, or cover in the stack to protect it from the elements.</p>
<p>10. When buying in quantity, have the hay analyzed by a certified forage laboratory to determine its actual nutrient content.</p>
<p>For more information about choosing hay, ask your equine veterinarian for the &#8220;Hay Quality and Horse Nutrition&#8221; brochure, provided by the AAEP in partnership with Educational Partners Bayer Animal Health and Purina Mills, Inc. More information about nutrition also can be found online at the AAEP&#8217;s horse health Web site, <a href="http://www.myhorsematters.com/">www.myHorseMatters.com</a>.</p>
<p>-Virginia Horse Journal (July 2007,pg. 26)
</p>
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