Any one who spent Summers in Lake Arrowhead will tell you it was the “Best time of my Life”. Summers in the 50’s and 60’s were so much fun. Nothing ever scared us, well at least almost nothing. I remember one night walking home from the movies. I lived a 5 minute walk on the lake trail over to Bourbon Gulch as it was then called, now it’s called Village Cove. As I started my walk through the gate in the lower parking lot, about a minute down the path I saw a dark figure standing in front of me. I instantly thought it was a bear. I screamed at the top of my lungs only to find out it was a guy kissing his girl good night. I scared them to death as well as myself. I walked the rest of the way down the trail along the lake giggling to myself.
There are still a number of the kids I grew up with that still live here in Lake Arrowhead. One of them is Butch Baumann. He was chosen Citizen of the Year and he very much deserves it. Here is the info on a great party honoring him.
Don’t miss the “One Outstanding Event: Black Tie & Blue Jeans” honoring our 2010 Citizen of the Year Butch Baumann. This year’s event will be held at the Lake Arrowhead Resort & Spa on Saturday, February 5, 2011 5:00 pm to 9:00 pm. A limited number of tickets are available. For more information call 909-337-3715 or purchase tickets online at www.lakearrowhead.net
NEW YORK (CNNMoney.com) — The era of near 4% mortgage rates has ended after a quick rate rise since early November. But some industry experts think that may be a good thing for the flagging housing market. The average 30-year fixed mortgage rate has risen to 4.86% from 4.17%, according to Freddie Mac‘s weekly mortgage market survey. In the Bankrate.com weekly survey, the rate has risen to 5.02% — crossing the 5% mark for the second time in three weeks — after being as low as 4.42% . Rates haven’t been this high since May and forecasters now predict them to remain between 5% and 6% for all of 2011.”You can kiss those record lows goodbye,” said Greg McBride, chief economist for Bankrate.com.Keith Gumbinger of HSH Associates, a provider of mortgage information said that the market reached a new plateau. “I don’t think we’re going back to a 50-year low anytime soon without an economic collapse,” he said. “Rates will probably never revisit those levels.” The increase will push mortgage payments higher for homebuyers. When rates rise from 4.25% to 5% it takes away about 9% of buying power, according to McBride. “That’s nothing to sneeze at,” he said. “But it’s still small relative to the steep drop in home prices over the past few years.” Good for the market? Higher interest rates may even prove stimulating to the still quiet housing market in which sales volume and prices are scraping near their bottoms. “The initial phase of an interest rate increase generally does not hurt markets,” said Lawrence Yun, chief economist for the National Association of Realtors. “In fact, it can help.” The rapid rise introduces an element of urgency for potential homebuyers. They may now rush to buy before rates spurt even more. The strength of the economic recovery will have far more impact on the housing market that this relatively modest increase in mortgage rates, according to Yun. If hiring gains momentum, housing markets should revive. “If we add 2 million jobs as expected in 2011, and mortgage rates rise only moderately, we should see existing-home sales rise to a higher, sustainable volume,” said Yun. Gumbinger said that demand for homes may be tempered somewhat by the increased mortgage costs and so affect home prices a bit but the improving job picture and better consumer confidence matter much more. “If the other factors are aligned,” he said, “interest rates are not a big thing.”
Posted in Real Estate News
Tagged Bankrate, economy, Fixed rate mortgage, Freddie Mac, interest, Interest rate, Lawrence Yun, mortgage, Mortgage loan, National Association of Realtors, Real estate economics
There is a little cold snap the past few days following our latest snow storms. This morning as well as yesterday it was 24 degrees in Lake Arrowhead. Now this is Southern California and it’s not that we are used to perfect Seasons. Our winter is never too harsh, in fact that is about as bad as it gets unless of course we are buried in snow. Our Spring is fabulous as the mountain blooms with daffodils and blooming Dogwood trees. Our Summer is never too hot. It’s either just perfect at 78 degrees or we have a heat wave and it gets up to 89 and we have to turn the fan on. Fall is my favorite. As soon as Labor day passes you can feel fall coming. The leaves falling off the trees are swirling in the breeze as you walk through the Village. The fall color comes on the trees, there is a nip in the air and you can smell the smoke from a fireplace in the air. Yes, it’s pretty close to perfect here in Lake Arrowhead.
Come join us for the 6th Annual Mountain Community Thanksgiving Day Feast, Thursday, November 25 from 12-3pm at the Rim of the World Masonic Lodge #711 (26012 Hwy. 189 Twin Peaks). Food & cash donations sought for dinner & meal boxes for the homeless. Also need socks, beanies, gloves, coats & blankets. Contact Rose Halpin at 909-338-2274 or firstname.lastname@example.org