U.S. Census Bureau Seattle Regional Census Center

cordially invites you to their Open House.

January 25, 2010

10am - 1pm

Elk Grove Local Census Office

9355 E. Stockton Blvd Suite 200

Elk Grove, CA 95624

Join our community event to increase awareness of the 2010 census. Your participation is important for a successful count of every resident in California.

Representatives from the local community as well as business leaders will be in attendance. Presentations will be made by local community groups, and refreshments will be served.

PLEASE RSVP BY JANUARY 20TH BY CALLING

KATHY PARSHALL, 916-509-3753 OR

aa.lco.2713@census2010.gov

Kings vs. Washington game on Dec 16^th has been picked up by ESPN. We want ARCO to be filled with Kings fans showing their support of this young and exciting team. In addition it will be $1 beer night!  

Special $10 ticket offer for Kings Groups – one game only, while supplies last! See the new young Kings take on the Washington Wizards live on Dec. 16 and help showcase Sacramento’s great home-court advantage to a live national TV audience watching on ESPN. Bring your office, offer tickets to clients or get your coworkers together to come out to ARCO to see the Kings in action call me ASAP to put your group of 20 together.  

Go Kings!  

CONTACT: 

Kathleen Foley | Senior Director, Sales & Service | v. 916 928-3653 | f. 916 928-0727 | foley@arcoarena.com
Maloof Sports & Entertainment | One Sports Parkway | Sacramento, CA 95834 | www.arcoarena.com

The Federal Housing Administration (FHA) is proposing raising minimum credit scores for borrowers who receive FHA-backed mortgages, increasing down payment requirements, and limiting the amount of money sellers can provide toward closing costs.  The proposed changes are part of an effort to shore up the agency’s finances, which have been hit with rising defaults to its mortgage insurance program.

• Historically, the FHA has played a critical role in propping up the housing market by insuring lenders against default after the mortgage market failed.  Currently, the agency guarantees approximately 30 percent of all home loans and 20 percent of refinancings.  In the past, the FHA has resisted raising down payments or insurance premiums, fearing it would be shutting out qualified borrowers and stunting the housing market’s recovery.

•  The FHA is hoping that the proposed changes, including requiring that borrowers bring more cash to the closing table, will ensure that borrowers are less likely to default on their loans.  Officials at FHA have yet to determine how much cash will be required.

•  Up-front cash can include down payments as well as other payments.  Currently, FHA borrowers can put down as little as 3.5 percent.  One lawmaker has introduced legislation that would require FHA borrowers to put down a minimum of 5 percent and have a little more “skin in the game.”

•  The agency also currently allows sellers to provide up to 6 percent of the home’s value toward closing costs or down payments.  Secretary of Housing and Urban Development (HUD) Shaun Donovan has said he wants the maximum permissible level to be lowered to 3 percent, in line with industry norms.

•  The FHA has decided “for the time being” to raise its minimum credit score requirements for new borrowers.  The new requirements have yet to be determined.  Presently, borrowers with credit scores as low as 500 may qualify for an FHA loan.

“For six long months we worked with another real estate agent and made numerous offers with no success. Within three months of working with Jesse, we were in a great house that fit our needs and requirements in the neighborhood we wanted to live in. Jesse is a consummate professional with an emphasis on service and he has tremendous knowledge of the real estate business. I highly recommend him and will definitely do business with Jesse in the future. Thanks again Jesse!”

- Keith & Angela

Arden Fair Mall

Mall Hours: 12AM - 10PM

JCPenney:  4AM-11PM
Sears: 5AM-10PM
Macy’s: 5AM-10PM
Nordstrom: 7AM-10PM

*All other specialty stores will be open by 6AM.

More info at ArdenFair.com

Stockton Sherwood Mall
6 a.m. to 9 p.m.

Stockton Weberstown Mall
6 a.m. to 9 p.m.

Sacramento Downtown Plaza
8 a.m. to 9 p.m.

Sunrise Mall in Citrus Heights
5 a.m. to 11 p.m.
JCPenney, 4 a.m. to 11 p.m.
Macys, 5 a.m. to 11 p.m.
Sears, 4 a.m. to 10 p.m.
 

Roseville Galleria
5 a.m. to 10 p.m.
JCPenney, 4 a.m. to 10 p.m.
Sears, 4 a.m. to 10 p.m.
Macy’s, 5 a.m. to 11 p.m.

Solano Mall in Fairfield
6 a.m. to 10 p.m.

County Club Plaza (Sacramento)
8 a.m. to 10 p.m.
Macy’s, 5 a.m. to 11 p.m.

Modesto Vintage Faire Mall
6 a.m. to 10 p.m.
JCPenney, 4 a.m. to 11 p.m.
Sears, 4 a.m. to 10 p.m.
Macy’s, 5 a.m. to 11 p.m.

K-Mart
7 a.m. to 11 p.m.

Costco
9 a.m. to 8:30 p.m.

Sam’s Club
5 a.m. to 11:30 p.m.

Kohl’s
4 a.m. to midnight

Ross
9:30 a.m. to 10 p.m.

Marshall’s
8 a.m. to 10 p.m.

Folsom Premium Outlets
Midnight to 10 p.m.

Vacaville Outlets
Midnight to 10 p.m.

Rates on 30-year fixed-rate home mortgages averaged 4.78% this week, matching an all-time low in Freddie Mac’s weekly survey of conforming mortgage rates, released Wednesday.

The mortgage averaged 4.83% last week and 5.97% a year ago. This week’s average matched a low set the week ending April 30.

“Interest rates for 30-year fixed-rate loans are currently 0.8 percentage points below this year’s peak set in mid-June, which shaves roughly $100 off the monthly payments on a $200,000 mortgage,” said Frank Nothaft, Freddie Mac chief economist.

Check Before You Burn Program

The chilly season is upon us and you’ll want to stay warm…but be careful before starting a fire or it could cost you! 

Residents and businesses are prohibited from using indoor or outdoor fireplaces, wood stoves, firepits and chimneas that burn wood, pellets, manufactured logs or any other solid fuel, when fine particle pollution is forecast to be elevated.

The first violation will result in a $50 fine or a requirement to complete and pass a wood smoke awareness course. Fines for subsequent violations are higher!

You can check air quality forecasts, sign up for alerts, get cleaner burning tips and more @ SpareTheAir.com.

WASHINGTON – Fannie Mae says it won’t consider offers from investors to buy its foreclosed properties until they have been on the market for 15 days.

During that period, Fannie Mae will only consider bids from buyers who intend to live in the homes, or those using public housing funds. Fannie Mae says the First Look initiative announced Tuesday applies to more than 72,000 properties nationwide.

For buyers using money from public entities such as the Department of Housing and Urban Development, Fannie Mae also will waive deposits, allow buyers to renegotiate after an appraisal, and receive up to 45 days rather than a typical 30 days for closing.

Last week the Federal Reserve stepped in with more buying of Mortgage Backed Securities (MBS), helping Bond prices recover from news of a weak Treasury Auction. Overall, home loan rates bounced around last week and ended the week very slightly improved. But that said, we can’t “push our luck” and think the Fed will continue to step in and help support home loan rates…we have to remember that the Fed is actually winding down exactly this type of buying support. The Federal Reserve’s purchases of MBS peaked at an average of $25 Billion per week back in May - and they are getting closer every day to being done spending their allotment of $1.25 Trillion.

Why is this important? Because home loan rates are based on MBS - so when the Fed agreed to be a big buyer, it helped provide a market and helped keep MBS prices high and home loan rates low. So as the Fed’s program wraps up and eventually stops, home loan rates are quite likely to be on the rise. So while rates are still very good, they may not be for long. Let’s be sure to talk if you haven’t yet explored how the current rate environment might benefit you or someone you know.