Several recent articles in the press point to the infusion of TALF money into the CMBS loan market.  As noted on Realtor.org in a recent article:

In response to the liquidity crisis, the Federal Reserve Board recently announced that starting in June, commercial mortgage-backed securities will be eligible collateral under the TALF. The FRB also authorized up to $100 billion in TALF loans with five-year maturities to help investors finance CMBS purchases. TALF loans currently have maturities of three years.

For detailed information click here:  Realtor Article

If you think that home prices are the only property values affected by the economic struggles our country (and the world) is going through, this article should be of interest to you:  Costar Article

No matter what holiday you celebrate at this time of year, I wish you good cheer and happy holiday.

Here is something anyone can appreciate. Click Here:::>>> Holiday House

If you are a boomer or older, you will appreciate this music.  See if you can recognize the people in the video.

<div><object width=”420″ height=”365″><param name=”movie” value=”http://www.dailymotion.com/swf/k5F58sF1pbn5Xs2LUk&related=1″></param><param name=”allowFullScreen” value=”true”></param><param name=”allowScriptAccess” value=”always”></param><embed src=”http://www.dailymotion.com/swf/k5F58sF1pbn5Xs2LUk&related=1” type=”application/x-shockwave-flash” width=”420″ height=”365″ allowFullScreen=”true” allowScriptAccess=”always”></embed></object><br /><b><a href=”http://www.dailymotion.com/video/xe5w0_ray-charles-jerry-lee-lewis_music”>Ray Charles, Jerry Lee Lewis</a></b><br /><i>Uploaded by <a href=”http://www.dailymotion.com/Hanvak”>Hanvak</a></i></div>

This is an experiment. I hope it works.
Call if you have any questions. 707-447-5607

<object width=”425″ height=”350″> <param name=”movie” value=”http://www.youtube.com/v/upc2ani-NfA“> </param> <embed src=”http://www.youtube.com/v/upc2ani-NfA” type=”application/x-shockwave-flash” width=”425″ height=”350″> </embed> </object>

Click Here to see video.

Do you travel a lot?  Staying in touch while traveling is a lot easier than it used to be.  Everyone has a cell phone these days, so contacting your clients or brokers is not so difficult.  But what if you are in France, sipping some wine along theSeine
River?    Your cell phone use would be very expensive.  How do you call back home without breaking the bank?Here are a couple of techniques that I use and may be helpful to you in the future:

  1. Skype is a service providing free phone calls between users over an internet connection.  You can even make video calls if you have camera attached to your computer (as many laptops have today).  I have our office manager keep the Skype program running in the background of her computer desktop all the time.  Last week when I was in
    Mexico, I had to contact her several times and all the calls were free. Now that is a price I like.  She would normally just be sitting at her desk and her computer starts ringing like a telephone, she has a built in microphone so answering is a matter of clicking on a desktop icon.
  2. Jajah.com is another way to make free phone calls. I use it to call my daughter in
    Germany.  In the past you needed to be at your computer to make the calls, but they recently changed their program to allow a way to just dial a local number to reach someone in another country.
  3. How about your voicemail?  Whenever I leave the country I always worry about missing important phone messages.  AOL has a service that will forward phone calls to your computer.  I have been out of the country when my computer starts ringing and I can take a phone call just as if I was in the office.  The service comes with my AOL account.  I have even been given a local phone number for me to give to people who want to leave a voice mail for me.  The voicemail ends up in my email as an MP3 file, and I listen to it when I log onto the AOL program.  Click here to learn more:  AOL Voicemail
  4. Do you need to send or receive a fax, but no fax machine is available? Try Mongo FaxMongo Fax is a service that sends fax documents to your email.  How convenient it is when I am out of the local area and someone needs to send me a contract but I don’t carry a fax machine with me. I subscribe to this service and when I need to I send a special fax cover sheet to a client that they can use to send email to me.  The email arrives as an Adobe PDF document.  I can review it for accuracy and the appropriate signatures and then forward to another client as needed.  I never have to print the documents; how convenient.

There are various levels of service, from free to moderately priced.  Even if you had to pay for some of this service, at times I find it priceless.  If you want to try out the Skype program, call me.  My Skype userid is Halper2.

You remember what they said about Jack?  All work and no play makes Jack a dull boy.  I’m on vacation this week in Cabo San Lucas.  The Pueblo Bonito Roseis a five star resort on the beach in Cabo.  If you ever have a chance, go there and enjoy.  Want any tips on places to stay, just ask.  This is my fifth trip to Cabo in as many years.  It is peaceful (unless you are looking for the wild nightlife-I am past that), it is certainly warmer than Northern California and it is just downright relaxing.

According to a recent article in the Wall Street Journal as reported on Yahoo Finance, office vacancy rates are rising.  A slowdown in the economy and small business fear of entering into long term commitments is at the root of the problem.  We are certainly seeing this in our area.  Vacancy rates are up, new properties that just came online are going mostly vacant and competition between landlords may be easing rents lower.  For a full version of the article as reported on Yahoo, click here:  Yahoo Article.  For additional perspective on the US office market as a whole and specific area absorption factors, check out this article from Costar. Costar Article. The article indicates that absorption in the bay area is off by 18% in the last year.  Absorption Rate is the the rate at which rentable space is filled.  A more detailed definition may be found at the IREI Website.

What would you do if your mortgage company went bankrupt or out of business in anyway?  Nothing!  You are not coming in to a windfall.  Someone will be collecting your payments.  Wait to be notified and then check it out thoroughly.  Make sure it is not a scam to get you to send your payments to Nigeria or somewheres else.

When a company that has loans as part of their receivables has financial troubles, they will or the court will sell the receivables to someone else.  That new someone becomes the beneficiary of the loan and your payments.  Again, check it out carefully.

Have you been affected byt the AMT?  What is the AMT? Two good questions to ask and have answered.  Originally designed to make certain the rich did not escape paying taxes by using legal loopholes in the IRS code, the AMT is now affecting the middle class in a big way.  The problem; it was never indexed for inflation and inflation has increased wages and slaries to the point that more and more plain old folks are being impacted by the AMT.  American Investment Exchange recently published an interesting article on Congress’ last minute attempt at fixing the problem.  Click here for more information.

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