A Day at the New California Academy of Sciences
January 3, 2009
On a recent stormy Saturday, my family and I met up with my uncle and cousin to explore the newly reopened California Academy of Sciences in Golden Gate Park. We were all very excited and had read up on the many awe-inspiring experiences the new Academy has to offer. Here are a few that we were looking forward to:
- The world’s deepest living coral reef exhibit
- A four-story rainforest
- A 20 member African penguin colony
- A 21st Century planetarium
- A reinvented natural history museum
- The living roof
My uncle had heard that the museum gets very crowded (and may even sell out) and to buy our tickets online before we got there. This route is highly recommended! It is so easy and really saved the day for us. The line to purchase tickets was pretty long (even the parking garage was extremely crowded that day), but we simply went up to the employee standing at a podium who was able to print our tickets for us at the steps. We didn’t have to wait in line at all and just walked right up to the ticket-taker.
The museum was so full, but we managed our way through a lot of their amazing exhibits. The kids very much enjoyed the Philippine Coral Reef and the many smaller free-standing exhibits, including Altered State: Climate Change in California. A big-time hit with both my daughter and son was Read more
Walking a Tightrope? Some Modified Mortgages Move toward Delinquency Again
December 24, 2008
No one said it was a perfect solution. It is not a surprise to hear that just over 50% of the modifications made in the first half of 2008 were already at least two months delinquent again, according to a report by the U.S. Comptroller of the Currency (OCC). However, the justification for why these delinquencies are reemerging may not be apparent to the casual observer.
The following reasons may have contributed to the high percentage of second time delinquencies. First off, many of the modifications performed were on mortgages with adjustable rates. The borrowers attached to these adjustable rate mortgages were already having difficulty making their existing payment. Compounding the issue is that these adjustable rates were scheduled to reset at a higher rate, thus increasing the total monthly payment due. Unfortunately, the modification solution for many of these mortgages was to freeze the rate at the original interest rate. Essentially, the modification had little or no impact and only delayed the problem.
A second component leading to the repeat of delinquencies involves forbearance and repayment plans. Basically, these two options allow a homeowner to delay payment of their mortgage and catch-up on their payment schedule for a certain time period. Under certain circumstances, these two options may be viable for many people. However, the central problem with forbearance and repayment plans is that the mortgage payment that is not made during the agreed upon time period is typically tacked on to the existing mortgage balance. Once the delay of payment is removed, the payment is typically Read more
Mortgage Rate Update Ending 12/15/08
December 16, 2008
Bankrate.com conducts a weekly national survey on the interest rates for the five most common consumer banking products. Here’s this week’s outcome:
- 30 Year Fixed Rate: 5.80 percent with points averaging: 0.35
- 30 Year Fixed Rate Jumbo: 7.37 percent
- 15 Year Fixed Rate: 5.51 percent
- 5/1 ARM (Adjustable): 6.17 percent
- 1 Year ARM (Adjustable): 6.09 percent
Fixed-rate mortgages continued to fall this week. They have dropped to their lowest point since February. After a massive 112.1 percent increase the week before, the overall mortgage activity fell at the end of November, according to the Mortgage Bankers Association.
Dublin, San Ramon, Danville, Pleasanton, and Livermore’s End of November Real Estate Update
December 9, 2008
This graph consists of real time inventory numbers for Danville, Dublin, Livermore, San Ramon and Pleasanton. Here are the active real estate housing stats for the Tri-Valley cities for the end of November.
Over the last month, we have seen a considerable drop in mortgage interest rates. Some buyers have elected to seize this opportunity to lock down homes while the rates are low. Hopefully, the low rates will continue to push more buyers into the market into the beginning of next year.
In my opinion, the overall marketplace is still slumping. Home prices are not on the increase, and, in fact, I do not feel we are at a point where we’ve leveled off. Most likely, we will see more inventory coming on the market in a short sale or foreclosure scenario. At the present time, there are a number of transactions taking place. Many of those homes that are transacting are either short sales or foreclosures.
Take the Time for Small Moments
November 30, 2008
My daughter told her first true joke, and it really taught me a lesson.
Not only was her joke funny - it was a reference joke. She used someone else’s line and made it fresh and original. It was so funny, I didn’t stop laughing for a full two minutes. Then it made me think. And then I wanted to cry for what it meant was happening.
Both of my kids were sitting together sharing a bowl of dry cereal. It was Fruit Loops, and each of them took turns picking out their favorite colors. After a while, my daughter simply said, “I got a rock,” each time she picked up her piece.
I sat listening for a while, when all of a sudden it dawned on me. She is making a Charlie Brown reference! She was three years old and using a movie reference for humor! In one scene of the classic movie, “It’s The Great Pumpkin, Charlie Brown,” Charlie and his friends go trick-or-treating. At each home, everyone gets great treats in their bag, everyone except poor Charlie. Being the long-suffering character that he is, Charlie gets a rock at each home instead. And every time he does, he simply says, “I got a rock.”
When my daughter said, “I got a rock” with each Loop, she was referencing Charlie Brown, and this bowled me over. It was funny, and it was shocking. It felt like a large siren went off in my head and a voice came over the loud speaker to report on just how fast she is growing up. Can someone please slow down the clock?
I guess what I am getting at is… time flies. Time flies when Read more
