Fed cuts rate

Fed cuts interest rate by quarter point
By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON --The Federal Reserve, confronted with surging oil prices and a slumping housing market, on Wednesday cut a key interest rate by a quarter-point, the second rate reduction this year.
The central bank lowered the federal funds rate to 4.5 percent in an effort to stimulate economic activity and keep the country from dipping into a recession. The move will make it cheaper for consumers and businesses to borrow money.
The Fed's action came on the same day the government announced that the overall economy grew at a stronger-than-expected 3.9 percent rate in the July-September quarter.
However, economists are worried that growth will be less than half that amount in the current quarter as the country struggles with a deepening housing slump.
However, Fed policymakers signaled that Wednesday's cut may be all that is needed to deal with the economy's trouble.
The panel said in a brief statement explaining its action that the Fed after the second rate cut judges that "the upside risks to inflation roughly balance the downside risks to growth."
By stating that risks are now roughly balanced, the Fed could be signaling that it judges that further rate cuts will not be necessary.
The Fed's decision came on a 9-1 vote with Thomas Hoenig, president of the Kansas City regional Fed bank dissenting, arguing that he preferred no change in the funds rate.
Commenting on the economy, the Fed struck a more positive tone than it did last month when it expressed concerns about the toll the August credit crisis would take on housing and the overall economy.
In the current statement, the Fed said, "Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance."

I recently came across an article on AOL real estate section about the 10 Red-hot Spots for New Homes and guess what.... Charlotte, NC is listed at #3.

"Charlotte, North Carolina
If you'd like to be in the mountains or at the beach in less than two hours, Charlotte is the great location- equidistant between Myrtel Beach, S.C, and Asheville, N.C. In fact, if you live in Charlotte, you can reach about half the nation's population within just one hour in a plane or one day in a car, according to CityData.com.

Because Charlotte is the center of the largest consolidated rail system, it's transportation hub, adding to its reputation as a regional financial center (home to Wachovia and Bank of America). An inland port facility and foreign trade zone also make the city appealing to foreign companies who want a U.S. presence. The Charlotte area also has attracted several large contractors that do business with the nation's Defense Department.

The average resident is 32.7, and the median household income is about $47,000. More than 55 percent of residents are white, while 32.7 percent are black.

In 2005, the average new or previously owned house cost $159,900. The median property tax then was $1,765. Today, new homes are priced from $107,000 to $350,000, with a smattering more priced up to more than $1.1 million.
That bottom price will net you a three bedroom, two-bath, 1,100 sq ft single-family home near I-85 in West Charlotte. For about $200,000, you can pick up a three bedroom, two and a half bath, 2,200 sq ft home in the pedestrian friendly, neotraditional community of Ayrsley, in South Charlotte. The upper end can get you a four bedroom, three and a half bath, 4,000 sq ft home near the Mint Hill section of southeastern Charlotte."

Reprinted from Aol Real Estate News

Video clips

Hello all I just wanted to let you know I posted up some videos that are interesting and entertaining. Some of the videos I did not want to put up but there is no way for me to single them out they just came with the key word I typed in. Hope you all enjoy them.
Daniela

Technorati Profile

Steel Gardens is a new condominium project in North Davidson area aka NODA. Currently under construction the condos range from 600 sf to 1926 sf. The prices start at $214,500 to $335,080.

If you would like more information write me an email or a comment and I will send you a brochure consisting of all the floor plans and pricing.

Daniela
D.amortegui@gmail.com

New Beginning

Ok so this is my first blog ever! How exciting it is for me, maybe not for you all whoever reads this. Anyways I am hoping this whole blogging phenomenon will help build my business and my relationships with others.


I am a realtor for Center City Realty in Charlotte NC. I mainly work with clients looking to move uptown but I also work in surrounding areas. For now this is where I will have to leave off because I have a part time job I must attend to but soon you will enjoy some of the articles that I will be posting up.