From the Federal Reserve:
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system.
http://www.federalreserve.gov/newsevents/press/monetary/20111130a.htm
Jim Klinge
Klinge Realty Group
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
Trustindex verifies that the original source of the review is Google. We sold a home with Jim and Donna and from beginning to end they were consummate professionals. Their initial walk through the property resulted in a list of items to be repaired or updated. They supplied a list of vendors and job quotes to do the repairs and updates. We originally wanted to sell ‘as is’ and just get it over with. They gave us a selling price for ‘as is’ and options for doing a few updates/repairs to doing it all with the selling price for each option. We agreed to do all they suggested and we sold for the exact price they predicted. For every dollar spent we got back more than $2 back in the selling price. And they got that price in a rising interest rate environment! Donna and Jim are extremely detailed and guide you through ever aspect of the sale. There were no surprises thanks to their guidance. We couldn’t be more pleased with their representation. Thank you Donna and Jim, Jerry and MaryTrustindex verifies that the original source of the review is Google. We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years. Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community. In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.Trustindex verifies that the original source of the review is Google. WeI had the pleasure of working with Klinge Realty Group to sell our home in Carmel Valley, and I cannot recommend them highly enough! Jim and Donna demonstrated exceptional professionalism, offering expert guidance on market conditions and pricing strategy, which resulted in a quick and successful sale. Communication was prompt and we were well-informed throughout the entire process. For anyone looking for a dedicated and knowledgeable real estate team, look no further! ---Trustindex verifies that the original source of the review is Google. Donna and Jim Klinge of Klinge Realty Group have our highest possible recommendation. From Donna and Jim’s first visit to our house through closing their advice and counsel was candid and honest in all dealings. They kept us fully informed throughout the process. The house sold less than three days after listing with a two-week closing. My wife and I have sold several houses during our lives. This was by far the best experience. Klinge Reality is a premium service realtor. You can’t make a better choice for someone to sell your home fast and for top dollar.Trustindex verifies that the original source of the review is Google. Donna and Jim provided exceptional support and professionalism throughout the entire process. We couldn't have been happier with their efforts. They made our house shine, and thanks to their expertise, it sold above the listing price in the very first weekend! Truly a fantastic experience from start to finish.Trustindex verifies that the original source of the review is Google. This year has been difficult on our family, mainly due to having to sell our home. Thankfully we knew God had a plan for us and working with the Klinge team was a key part of it. It was an obvious decision to work with them again after such an amazing experience when purchasing the same home we needed to sell. The challenge was, how will we do this in so little time with so much going on? Jim and Donna held our hand every step of the way. Whenever an unexpected issue arose they found and provided a solution. Never once did we feel pressured to make a decision and the Klinges were always reassuring after providing the information that the decision was ours to make. Despite the curve balls, they never panicked and exemplified the “can do” attitude, making us feel optimistic and taken care of. Their expertise and professionalism was superb. But of all the reasons to work with the Klinges, the most impactful and valuable is their compassion and genuine care for their clients. We pray that we can one day purchase our forever home and you better believe that Jim and Donna will be representing us - as long as they will have us of course. Thank you again Klinge team! Your execution, experience, and care are unmatched.Trustindex verifies that the original source of the review is Google. Jim and Donna were fantastic! Jim understanding my needs, recommending potential places, pointing out the pros and cons of each property was invaluable. Then when the offer was accepted Donna’s organized guidance through the inspections, paperwork etc made the whole process seem effortless. So grateful that I had them on my side!Trustindex verifies that the original source of the review is Google. We first found Jim through his blog at bubbleinfo.com, which really showcased his knowledge of SoCal real estate. Since then we've done three transactions with Jim and Donna, and they are an incredible full service agency, with Jim's deep market insight and Donna's deft contract and project management. We trust them implicitly in their analysis and strategy, which is based on years of experience. They're always available and on top of things, and we strongly recommend them to anyone.Trustindex verifies that the original source of the review is Google. The Good The Klinge Realty Group operates like a finely tuned machine, with a very personal touch. We contacted them on a Sunday and they were talking to us about our family and our needs on our living room couch the following day. They carefully listened to us and worked with us to identify the best and quickest path to listing within 2 weeks to take advantage of the low inventory conditions in our South Carlsbad neighborhood. They knew our tract specifically and had many previous sales there over the years - they came prepared with a thorough analysis of comparative sales and recommended a pricing strategy that they felt confident would yield offers the first weekend on the market. The Great Over the next two weeks Donna coordinated a range of vendors who she knew from experience could get the preparation to list work we needed done on time and with high quality. Our light tune-up involved excellent experiences with their stagers, landscapers, contractors, electricians, and plumbers. Throughout this period Donna's daily communication was clear, concise, and responsive. Any time we had questions Donna picked up the phone or texted immediately - but almost always, she answered our questions before we even knew we had them. The Outstanding We had a tricky situation with a shared fence that could have delayed our escrow. Donna used superb mediation skills to negotiate the terms of replacement and was personally on site with the fence contractor to make sure everything went smoothly. The fence looks great and escrow closed on time. The Truly Exceptional Our house came on the market on a Wednesday and between then and Monday morning Jim was personally at all three open houses. He was in constant communication explaining potential buyer reaction and strength. As he predicted offers began to come in on Saturday and each one was incrementally higher than the last. At the end we had 5 offers, 4 of which were over list, and the final accepted offer was $100,000 over list. In addition to being over list it included rent back terms that met our needs. The Recommendation For all of these reasons we would strongly recommend The Klinge Team to anyone wanting to sell in North County Coastal San Diego. I had been reading Jim's bubbleinfo.com blog for 15 years and knew when the time came to sell that he would be our first call. Jim Klinge is not your standard realtor. He is keenly aware of market conditions and sales strategies. And, works his tail off - though not as hard as Donna . At this point he's gone from realtor to friend and I plan to have him over to grill and chill at our new place to talk real estate, but also just about life and raising kids in San Diego. He's more interested in relationships than his sales numbers - and that's why his sales numbers are so high. We have already recommended the Klinge's to some close friends and another successful sale is on deck right around the corner...Trustindex verifies that the original source of the review is Google. We recently had the pleasure of working with Jim and Donna from Klinge Realty Group to sell our house, and we couldn't be more satisfied with the experience. From the initial meeting, they listened attentively to our needs and provided invaluable guidance on specific improvements to get our home market ready. Their responsiveness throughout the entire process was truly impressive. Anytime we had questions or concerns, they were quick to address them, ensuring we felt comfortable and informed every step of the way. What stood out the most was their team and extensive network of tradespeople, which made addressing any necessary repairs or updates seamless and stress-free. Thanks to their expertise and dedication, our house sold quickly and at a great price. We highly recommend Jim and Donna to anyone looking to buy or sell a home. They are a fantastic team who truly care about their clients and deliver exceptional results.Load more
So now it’s cheaper for foreign countries to borrow us dollars.
Let’s see…
– Foreign country owes 100 billion million dollars
– Fed reserve just allowed them to borrow 1.5 instead 1 dollar per unit on trade
– Foreign county is able to borrow at a lower cost which also lowers the amount of dollars they owe from 100 billion million to 75 billion million
Hmmm…
Sounds like a tricky way to pay off foreign debt and lower the value of the dollar by flooding the market with additional units.
The acts of desperation to prevent another Lehman type event are getting closer and closer together. That’s a function of tying to prevent an exponential problem from running you over. Debt that cannot be paid won’t be paid and wealth based on that debt will be lost. Central banks and government are trying to protect that wealth based on debt by shifting it from private entities to taxpayers but even that has limits.
It’s only a matter of time until things fail and we see what things are worth without massive amounts of leverage. It won’t be pretty for your 401K but the wealth gap will shrink massively and we’ll have a framework for a more prosperous future.
How much time though?
Homebuyers are tired of waiting.
If you could give me the exact date I’d really appreciate it.
Yeehaw!!! DOW +400
Jim,
Here is a good buy in my hood for someone cashing out some day trading market gains today for their down payment or all cash deal.
http://www.sdlookup.com/MLS-110058308-974_Merganser_Ln_Carlsbad_CA_92011
I don’t like the idea of the Bank of Canada getting involved with a bunch of deadbeat nations. It was our government regulations that prevented our banks from destroying our economy in the first place. Why would the government ever want to destroy it now? To catch up with the rest of the broken world?
livinincali,
I think things have to get much worse before we have a collapse like what you’re describing.
I think one of 2 scenarios happens.
1. We suffer for decades under decisions made by the boomer cohort in many nations to award themselves thick benefits of every stripe. Once they die in significant enough numbers, the world moves back to a sustainable pattern.
2. We suffer for decades under decisions made by the boomer cohort in many nations to award themselves thick benefits of every stripe. Once it gets bad enough, the young, more able plebes sieze control of the wealth through forceful measures, thinning the herd of the unproductive.
Personally, I’d place the likelihood of #1 to be 10:1 over #2.
In that case, whether you buy a house today or 30 years in the future, you’re probably not much worse off. The demographics of the US point more to a longer-term decline than resumption of growth ala the last 30 years.
Who knows, though?
Chuck
doughboy – Merganser is a beast!
@prohoff
with a name like “Merganser” would you expect anything less?
That sounds like the name to one of the many mutated monsters of Godzilla films….Attack of Merganser, the mutated Bird from Batiquitos lagoon!!!
I didn’t say it should influence your decision to buy a house. You do have to live somewhere and for a lot of people they like the freedom that owning brings. If you want to give you a date, I can’t, but I can tell you that it will likely be in the next generation. There’s certainly tons of assets being bought and gobbled up now with the intent that they’ll be sold to fuel consumption in the future.
I really don’t think there is a safe place to save your wealth. Everybody is going to lose it’s just how much on a relative basis. Everybody is looking to protect there wealth via some mechanism including homes, stocks, bonds, foreign assets, gold, etc. Best place for your money might be cash, that seems to be the only thing that nobody wants to hold.
I believe a number of large foreign banks and money funds were in danger of collapse due to the lack of any willing counterparties, and this action fixes/delays that problem and only that particular problem – for now. This does not expose the US to any credit, currency or collateral risk as these rest with various CB’s.
It’s 4:27 p.m. and I’m in need of liquidity support after work: A nice, cold martini to celebrate the oligarchy.
Cheers!
So banks can borrow money from the Fed at 1.0% and then buy Treasuries and get 3.5-4.0%? Is that correct?
Thaylor,
I think the equation is more like this:
1. Take deposits from retail banks at .1% (in savings accounts, pay more for CDs you can lever more)
2. Borrow from fed, levered 10:1 to 50:1 at 0%
3. Lend to USG at guaranteed 3.5% to 4%.
*sigh* I wish I had a Federal Bank Charter. I’d be one of the “wealthy” all of the 99%ers keep talking about.
Chuck