Posted on January 25th, 2010 by Richard. Categories: Financing
I’ve tracked mortgage rates from lenders for years, always to keep my knowledge current on the financing end of things. Just about every day, I receive rate updates from several different lenders. In years past I remember mortgage rates that were a LOT different than now-a-days. More than double what they are now. But mortgage rates lately have been steady for quite a while now at around the 5% level for fixed rate/30 year conventional mortgage loans. These are loans with no discount points and just standard closing costs for the borrower. Standard closing costs vary between lenders but typically run about $1,800 from a solid lender. They are just the normal costs necessary for a lender to process a loan request. The 30 year fixed rate mortgage is probably the most popular product that most people choose when financing a purchase or refinancing. More first-time buyers probably choose an FHA type 30 year mortgage because the down payment required is less…around 3.5% of the purchase price, compared to 10 to 20% down minimum using a conventional loan. FHA rates are usually just a bit higher but really worth it if down payment is an issue. Lots of times too, the seller will agree to pay some or all of the buyers transaction and loan closing costs, so it takes very little cash to buy a home. For a little while longer, there are tax credits for almost anyone who buys a home…first-time buyer or even long time owners. That program will expire though soon.
That’s at least one good thing about a slower economy. It puts downward pressure on interest rates. When the economy heats up again, which it will, the rates will go up. A hotter economy also will put upward pressure on prices. That added to higher rates means housing becomes less affordable. When rates are so steady and so inexpensive for such a long time, we all are spoiled by them. Relatively speaking, there probably has not been a better time to buy a home in the last 50 years or more. Lots of inventory to choose from, low prices, low interest rates and even tax credits. The perfect storm. We’ll look back later at this time and realize it was one of the best opportunities ever.
Posted on January 23rd, 2010 by Richard. Categories: Just for Fun, Sports & Recreation
To shore up the middle of the defensive line for the remainder of the Playoffs, the Colts announced a stunning three player trade this week that sent two Indy second-round draft players to Buffalo in exchange for their goliath Defensive Tackle, Otto Blimponski who astoundingly had gone unnoticed by almost everyone on their practice squad. Coach Jim Caldwell said, “Otto should help us in a big way to stop the run, allowing us then to put even more pressure on the Jets passing game”. Another Colts insider speaking on a condition of anonymity said “the only drawback is Blimponski is such a competitor and uses so much energy in each series, that we are having a little trouble keeping him on his feet between plays. We’ve tried just about everything.” “Finding a uniform to fit him has been a problem too. We had to rush order one to be specially made by American Tent and Awning Company.”
Sunday at 3:00, the Colts play the Jets for the AFC Championship…the winner going to the Superbowl in Miami on Feb. 7th. My prediction for the game? No one really knows for sure what the score or final outcome will be. But it’s going to be very difficult to beat the Colts, especially at home. ‘D’ has been playing great…and Manning and company will figure a way to put some points up there like always. I’m going to have to go with the home team. That’s been a good bet all year.
Posted on January 22nd, 2010 by Richard. Categories: Downtown
How soon we forget. You have a few warm days and it’s so easy to block out the memory of the big chill a little while ago. I liked this shot and salted it away to bring out later for added effect. The sky had been very dark that day, but those clouds finally moved onward to the east, as you can see behind the buildings, and then the sun came out and lit up the side facing me.
Does this photo look at all familiar? Um..well it’s sort of wearing a disguise, but you might if you look around. It’s the deep-freeze version of the top border shot, well…part of it anyway, used in the main header for IHB. The header view was taken in May when everything had come alive for the summer. There is one big difference now though. The JW Marriott, which has been under construction, is much farther along than it was in May, and has altered the skyline in a huge way. It’s a good size building anyway, but also it’s located closer to where this photo was taken from, so it has even more of a presence in this view of the skyline. The top border in IHB is really five photos sewn together to provide the panorama view.
With the JW Marriott emerging, looks like I’m going to have to update the top border photo later. That will be fun.
Posted on January 21st, 2010 by Richard. Categories: Just for Fun
No one is completely immune to spam these days. It comes usually in the form of unwanted, unsolicited email. Just how do they get everyone’s addresses anyway? Then there is the more basic question of why spammers are so ill-mannered in the first place? I wish the government would crack down on it. They could easily. You can tell by the email header who is sending it. Levy some HUGE fines or throw a few people in jail and then see what the rest of them do. A lot comes from foreign countries too. They could design programs that look for and block those easily. We all have anti-virus software that catches some, and email programs have built-ins that stop more. I made some very elaborate filters that weed out all but an occasional email every now and then. And if they make it in, then the filter learns from it and they are blocked from that time on. I never send any email to anyone who I don’t know well or doesn’t ask me to send it to them.
Then there is another type of spammer I see. They attempt to add links to bogus comments on posts here. Trying to get people to click on them to sell them awful stuff usually. Again…what is with their manners? Usually there is one or two attempts every day or so. Sometimes there are five or six. Yesterday there was eighty in one day! There are some very nasty filters on the site that automatically recognizes spam and puts it in a “holding tank”. It never misses any. When I log in, I just delete it. Takes two seconds. Even when someone leaves a legitimate comment, since I’m editor, I have to OK any comment before it’s added to a post. So there is no chance anything bad will ever make it. None. That’s why the spam attempts are just funny to me. The spam I see all comes from professional spammers. They are out there full-time searching for web sites where they can leave links. They get paid for each link they leave. They’ll never make any money here.
I’d love to see congress put spam on their agenda. Maybe we all should just forward all of our spam to each of our congressmen till they get the idea? Oh, No, wait…that would be bad manners.
Posted on January 20th, 2010 by Richard. Categories: Cuisine & Restaurants
Depending on who you talk to, they either love this place or feel the opposite. The funny thing is, the reasons given for why they feel that way are for the same things. The decor and the atmosphere is sort of rough around the edges but some will say that’s the charm of the place and the attraction. It’s not pretentious like other restaurants. You can go to there and just be yourself and not have to style-around like other places I know which shall go unnamed. Huge number of things to choose from on the menu so whatever your Southwest cravings are, they have you covered. And you might as well order a carry-home box with your entree because the portion size on anything I’ve ever had was over-the-top.
You can’t see the patio on the left side of the building in this shot, but in the warm months, it was fun to sit outside there under the canopy with the strings of cayene pepper lights. Probably if you put enough of the extra hot sauce on your burrito, you might be able to sit outside even in January? Acapulco Joe’s is located at 365 N. Illinois Street…on the southeast corner with Vermont.
Posted on January 19th, 2010 by Richard. Categories: Architecture & Design, Just for Fun, Public Buildings & Sites
This remnant of the wall from the old market with archway and masonry detail has always intrigued me. It stands alone out in the open, in the park area to the west of the main entrance of the City Market. I know that it was preserved probably because of it’s historical significance and rich detail, but don’t know enough about the old market building to understand where and how it was actually used. It definitely makes the park there a little classier though.
Paris has got the Arc de Triomphe. And so I’m calling this the Arc de Marche deVille. (pardon my french) Sounds a little more World Class? Although I know most of us Hoosiers would probably just prefer to call it The City Market Arch.
