Saturday, December 17, 2005

 

Mortgage Outlook

Market Comment
Mortgage bond prices rose last week pushing interest rates slightly lower. Despite the Fed rate increase, there is hope that the continued Fed rate hikes may soon come to an end. For the week, interest rates on government and conventional loans fell by about 1/4 of a discount point.
The producer price index Tuesday will be the most important event this week. Housing starts, income, outlays, leading economic indicators, durable goods orders, consumer sentiment, and new home sales will also be important.
The market closes early Friday in advance of the holiday the following Monday. The shortened trading week and likely thin trading conditions may lead to mortgage interest rate volatility.

Inflation Data
The mortgage bond market received some great news last week. The consumer price index, a major gauge of inflation at the consumer level, fell a remarkable 0.6% in November. This was the largest drop in over 50 years. Signs that inflation remains in check bode well for fixed income securities such as mortgage bonds. The lower than expected consumer price figure also helps reinforce the belief that the Fed is near the end of continually raising rates. However, the consumer price core rate, which excludes volatile food and energy prices, rose 0.2%. While this number remains tame, others point out that the Fed will need more than data from one month before they change their course.
If future data echoes that of November’s consumer price data, then it is very likely mortgage interest rates will remain the same or even push lower. However, there is still worry that the energy markets remain volatile and therefore the threat of inflation still remains. The good news is that mortgage interest rates remain historically favorable for homeowners. It is a great time to take advantage of rates at the current levels.

Monday, December 12, 2005

 

City of Olathe News Briefs

City of Olathe News BriefsDecember 12, 2005

Trash Collection Schedule Unchanged by Christmas and New Year's Holidays: City Offices Closed for Both Holidays
This Week?s Council Meeting Scheduled for Thursday: December City Council and Planning Commission Meeting and Channel 7 Rebroadcast Schedules Modified
Coffee Creek Meadows Recommended for approval by Planning Commission

Trash Collection Schedule Unchanged by Christmas and New Year?s Holidays: City Offices Closed for Both HolidaysBecause Christmas and New Year?s Day both fall on a Sunday, the City of Olathe residential trash and recycling collection schedules will be unchanged. Trash and recycling will be collected as usual. The Olathe Transfer Station, 1681 S. Valley Road, and the City's Composting Facility, 127th and Hedge Lane, will be closed December 24 and 31 and open regular hours the Mondays following each holiday.

City offices will close for the Christmas holiday at noon Friday, December 23 and remain closed through Monday, December 26. Offices will be closed Monday, January 2 for the New Year?s Day holiday.


This Week?s Council Meeting Scheduled for Thursday: December City Council and Planning Commission Meeting and Channel 7 Rebroadcast Schedules ModifiedBecause of the Christmas holiday, the December City Council meeting schedule and City Cable Channel 7 meeting broadcast schedule have been modified. This week?s City Council study session is scheduled for Thursday, December 15. Council meetings are typically scheduled on Tuesdays.

The next regular Council meeting will be held Tuesday, December 20. The meeting will be broadcast live and rebroadcast Wednesday, December 21 at 6 p.m.; Friday, December 23 at noon; Saturday, December 24 at 6 p.m.; and Sunday, December 25 at noon.

The December 26 Planning Commission meeting has been canceled due to the Christmas holiday.

For more information about the Olathe City Council, Planning Commission or City Cable Channel 7 visit www.olatheks.org or call 913-971-8600.


Coffee Creek Meadows Recommended for approval by Planning CommissionThe Olathe Planning Commission recommended approval of the most recent development in Coffee Creek at its Nov. 28 meeting.

Coffee Creek Meadows, located at the northwest corner of future 167th St. and Mur-Len Road, will have 191 single family residential lots, 232 planned single family villa lots and 118 attached two-family dwelling units. The total development area is 142 acres and the overall density is 3.8 units per acre.

Coffee Creek Meadows will have three different zoning districts, R-1 (Single Family Residential), RP-1(Planned Single Family Residential) and RP-2 (Planned Two-Family Residential). The rezoning applications are scheduled for the Dec. 20 Olathe City Council meeting at City Hall.

So far, these projects have been approved by the City Council for the Coffee Creek Master Plan area:
Cedar Ridge Park
Fairfield at Heritage Park
Forest Hills Estates
Heritage Manor
Stonebrook Farms
For more information on the developments in the Coffee Creek area, contact Sean Pendley, senior planner, (913) 971-8662.

Friday, December 09, 2005

 

Mortgage Outlook

Mortgage bond prices rose last week pushing interest rates slightly lower. The Treasury auctions were moderately bid and did little to help mortgage bonds. However, market sentiment was positive most of the week as market analysts expect the Fed to change their continuous course of rate increases soon.

For the week, interest rates on government and conventional loans fell by about 1/8 of a discount point.

The Fed meeting will be the most important event this week. Retail sales, trade data, consumer price index, industrial production, and capacity use will also be important.


Fed Meeting:
The United States central bank, the Federal Reserve, coordinates the borrowing and lending activities of federally chartered banks. The principal reason the Federal Reserve was created was to reduce severe financial crises. One way of accomplishing this goal is to control the amount of money that flows through the economy. By manipulating the US money supply, the Fed influences inflation, unemployment, and the level of US economic activity. The Fed has a variety of tools that it uses to control the money supply, but its chief policy tool is the manipulation of short-term interest rates.

While every Fed meeting is a major event in the financial markets, this week’s meeting may carry additional weight. While another rate increase is expected, traders are eagerly hoping that the Fed revises its outlook for the future with a sign of an end to the rate hikes. A revised outlook by the Fed could result in a rally for mortgage bonds pushing rates lower. However, indications that the Fed will continue to raise rates may not bode well for mortgage bonds. The good news is that despite the consistent rate hikes mortgage interest rates remain historically favorable for homeowners. It is a great time to take advantage of rates at the current levels

 

Keller Williams Realty raises $4M for Katrina survivors

Keller Williams Realty raises more than$4M for Katrina survivors

AUSTIN, TEXAS (Dec. 09, 2005) - In a concerted effort to help its Gulf States market centers recover from Hurricane Katrina, Keller Williams Realty Inc. and its public charity, Keller Williams Realty Cares (KW Cares) has raised $4.4 Million.The amount is not far behind the collective fundraising efforts of the National Association of REALTORS®, which has raised $5.8 million for hurricane relief.

Keller Williams Realty Vice Chairman Mo Anderson says Keller Williams Realty's giving culture has enabled the real estate franchise operation to "respond meaningfully" to its associates in need. As of mid-November, individual donations from Keller Williams Realty's 55,000 associates had reached $3.4 million. Additionally, the company's 500-plus market centers across the United States and Canada had donated $945,000 - earmarking 10 percent of their profits to KW Cares.

"We are making history in real estate with KW Cares, which has been supporting our associates in times of extreme hardship since 2003," Anderson says. "At Keller Williams Realty, we believe you have to give to get, and we're determined to hit our goal of raising $5 million for our Gulf States associates."

In addition to the fundraising campaign, KW Cares launched a long-term relief program called Heart 2 Heart, which is helping more than 700 Keller Williams Realty associates rebuild their lives and businesses. The adoption program enables volunteer Keller Williams Realty market centers in other regions to assist specific Gulf States associates impacted by Hurricane Katrina.

Thursday, December 08, 2005

 

Olathe residents may experience delays

Released 12/8/05As a result of the snow storm, some residents may experience delays in curbside collection. City crews will continue working despite the snow, but may not be able to complete routes as quickly as usual.

Any delay should be minimal and only impact a small number of customers. If a route is not completed on the scheduled day, crews will collect trash and recycling the following day.
Residents are asked to place trash and recycling containers by the curb as usual. They are asked to leave the containers at the curb until crews are able to remove the trash and recycling.
The city deeply regrets any inconvenience caused by potential delays. Crews will be working as hard as possible to collect all trash and recycling. If necessary, crews will be working on Saturday to get back on schedule.

City plow crews have been working non-stop since yesterday morning. All major streets have been plowed, and the majority of residential streets have received one pass. Nearly all residential streets should be plowed by the end of the day, and crews will continue working around the clock clearing the remainder of snow from streets.

Chris Dowell
www.DowellTaggart.com

Monday, December 05, 2005

 

City of Olathe News Briefs

City of Olathe News BriefsDecember 5, 2005
Olathe Housing Authority Receives Family Self Sufficiency Grant from HUD
Olathe Named Among Top Ten Digitally-Savvy Cities in Nation
Dispose of Household Chemicals Safely Saturday
Still Time to Enter the MLK Jr. Essay Contest

Olathe Housing Authority Receives Family Self Sufficiency Grant from HUDThe Olathe Housing Authority is a recipient of a $47,500 grant from the United States Department of Housing and Urban Development (HUD) to enhance their Family Self Sufficiency Program. Nationally HUD is awarding $45.5 million dollars in grants to help low income families become employable, self-sufficient and first-time homeowners. This is the second year in a row that Olathe Housing Authority has applied for and received this national HUD grant. Olathe Housing Authority is one of only six Housing Authority's in Kansas receiving this grant.

The Olathe Housing Authority?s Family Self-Sufficiency (FSS) Program provides Section 8 Housing Choice Voucher tenants an opportunity to become self-sufficient within five years by entering into a contract with the housing authority. The five year plan outlines major goals and accomplishments that will need to be met in order to meet the self-sufficiency goal.

To become self-sufficient the head of household and/or other adult will explore job training or placement programs, continuing educational classes, counseling, parenting and childcare, transportation, money management and homeownership opportunities.

Tenants who participate in the program will not only be improving their family?s financial situation but will also learn the value of savings and investment accounts. As the family?s income goes up the housing authority will place funds in an interest-bearing escrow account. This savings account could be used by the tenants to help them accomplish their goals such as paying educational expenses or a down payment on a home purchase. Once the family successfully completes their contract, any funds in the escrow account are given to the graduate of the FSS program.

This grant will be administered by Olathe Housing Authority staff with some of the services and classes offered through an inter-agency agreement between the City of Olathe Housing Authority and Catholic Community Services.


Olathe Named Among Top Ten Digitally-Savvy Cities in NationThe City of Olathe has been named one of the most digitally-savvy, cutting-edge cities in the nation, according to the 2005 Digital Cities Survey, an annual study conducted by the Center for Digital Government, a national research and advisory institute on information technology in government and education. The City of Olathe was ranked seventh of cities with a population of 75,000-124,999. Olathe ranked eighth in the 2004 survey.

The annual study examines how city governments are utilizing digital technologies to better serve their citizens and streamline operations. Mayors, city managers and chief information officers in more than 300 cities across the nation were invited to participate in the survey.

The Center and the National League of Cities (NLC) developed the survey and annually invites more than 600 city mayors, managers and chief information officers to participate. Survey questions focused on implementation and adoption of online service delivery; planning and governance; and the infrastructure and architecture that make the transformation to digital government possible. Open-ended questions allowed cities to discuss their initiatives on collaboration, enterprise activities, spatial data, policy priorities, and structure data.

For more information visit www.centerdigitalgov.com/center/05digitalcities.php


Dispose of Household Chemicals Safely SaturdayOlathe residents are asked to safely dispose of household products at Olathe?s Household Hazardous Waste (HHW) drop-off site, located south of the Olathe Municipal Services Center, 1385 S. Robinson, this Saturday, December 10. The HHW collection site is open the second Saturday of the month year-round from 8 a.m. to noon. HHW also can be disposed of at other times by appointment. Call 913-971-9311 to schedule an appointment.

Household chemicals such as motor oil, antifreeze, paint, batteries and pesticides can be harmful to the environment and should not be thrown away with trash or dumped down the sink. Disposal of these types of chemicals at a HHW facility ensures proper disposal of the chemicals and helps protect the environment.

For more information, please call the Olathe Municipal Services Center at 913-971-9311.


Still Time to Enter the MLK Jr. Essay ContestOlathe junior and senior high students are invited to submit essays in the Martin Luther King Jr. essay contest sponsored by Olathe District Schools, the City of Olathe, the Olathe Human Relations Commission and the Olathe Branch of the NAACP. The essay contest is open to junior and senior high students in the Olathe school district or Kansas School for the Deaf (KSD) who are sponsored by their Students Achieving Social Harmony (SASH) organization. KSD students are sponsored by the Olathe North SASH group.

This year?s theme, "If you look at schools today, what would Dr. Martin Luther King say about his dream of diversity," is taken from King?s ?I Have A Dream? speech delivered in Washington, D.C. in 1963.
Students are to submit an essay of no more than 450 words in length to their language arts or activity advisor at their respective schools. Schools must have their student essay entries collected and submitted to the school district by 4 p.m. on December 9, 2005.

Junior high school entries will be judged on theme, originality, organization and grammar. Senior high entries will be judged on the same criteria with the addition of oral presentation.
Cash prizes in the amounts of $200, $100 and $50 will be awarded to the top three senior high finalists while junior high winners will receive savings bonds in the amounts of $200, $100 and $50.

Top entries will be presented and winners will be announced at the City of Olathe?s Martin Luther King Jr. Celebration at noon January 13, 2006 in the Council Chamber of City Hall, 100 E. Santa Fe. The senior and junior high winners will read their presentations at the Olathe Branch of the NAACP celebration at 7 p.m. on January 16, 2006 at the Double Tree Hotel in Overland Park.

The goal of the Olathe Human Relations Commission annual essay contest is to increase positive awareness, foster greater understanding, and celebrate the diverse groups which make up our community.
For more information contact George Dunmore, Olathe Human Relations Commission, 913-390-0078.
For more up-to-date City of Olathe info. including Construction Areas and Job Opportunities, visit the City website at www.olatheks.org.

This page is powered by Blogger. Isn't yours?