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I received this from Lake Expo this morning.

LAKE OF THE OZARKS, Mo. -- AccuWeather is forecasting up to 11 inches of snow to fall Sunday night through Tuesday. The National Weather Service has issued a winter storm watch from Sunday evening through late Monday night, but only forecasts as much as 6 inches of snowfall in eastern Kansas and Western Missouri.

Looks like a great week to sit in front of the fire and search for homes on http://www.DemandDonna.com !

This is information I received today from Wells Fargo and thought was important enough to post here.

False Illusions and What You Need to Know

Homebuyer Alert...

For prospective homebuyers who are on the fence about making a home purchase, the next few months represent a countdown of sorts for two reasons.

The first of these, the coming expiration of huge tax incentives, may be a bit more obvious to most borrowers. April 30, 2010 is the last day to enter into a home purchase contract and still potentially qualify for a federal income tax credit of up to $8,000 for first-time homebuyers and up to $6,500 for repeat homebuyers. The credit can be claimed only on contracts that close by June 30, 2010.

Secondly, beyond the waning benefit of the Federal income tax incentive, another form of stimulus will soon disappear, as the Federal Reserve winds down a program that has been keeping home loan rates artificially low.

Rate Alert...

The lowest rates of 2009 were driven down to their attractive levels because of the Fed's Mortgage Backed Securities (MBS) purchase program. Home loan rates have an inverse relationship with the value of MBS. When these securities trade higher on the market, rates move lower and vice-versa. So when the Fed originally agreed to be a big buyer, it helped provide a market for MBS, which helped keep prices high and, as a result, helped push home loan rates low.

And while the Fed continues that program through the end of March 2010, the reality is that the Fed‘s "extension" was really more of a rationing intended to prevent home loan rates from spiking as the program is phased out. It's sort of like weaning the market off of its life-saving treatment instead of forcing it to go cold turkey.

Already, some in the media have mistakenly reported the extension of the program through March as good news, telling consumers that rates will continue to decline, and remain low into the spring. This gives a false sense of security that homebuyers and refinancers simply cannot afford.

The problem is...

Those reports do not accurately report what's going on or where rates are really headed. That can have a very costly impact on consumers who may miss out on historically low rates if they listen to these media outlets.

Here's what's really going on...

In May 2009, the Federal Reserve's purchases of MBS peaked at an average of $25 Billion per week. As of November, the average weekly purchases dropped down to $14 Billion. At the end of November, the Fed had already used over 80% of the allocated funds for MBS, meaning less than 20% remained to be used over four months.

Making the problem worse is that the Fed now has less money available to purchase MBS while at the same time, the supply of these securities has increased as a result of refinance and purchase activity that was triggered by lower rates.

Why is that important?

As the Fed now has fewer funds to last through the remaining months of the program, its ability to keep rates low will wane.
As the Fed's program winds down and ends, we'll likely see two things happen.

First, we will probably see higher levels of volatility-with rates sometimes shifting dramatically in the middle of the day. That means it is more important than ever for buyers to work with a knowledgeable mortgage professional who has a finger on the pulse of the market at all times and can provide trusted, proven advice.

Second, since MBS will have less support from the Fed, rates are likely to rise over time.

In short, while rates are still very good, they may not be for long.

What should you do to protect yourself?

First and foremost, work with a knowledgeable mortgage originator who studies and monitors the market.

Second, don't be fooled by media stories that only report the headlines and don't understand the underlying implications of the Fed's actions. If you ever hear something in the news but aren't sure what it means to your situation, feel free to call or email me for in-depth answers and advice.

Finally, if you haven't yet explored how the current rate environment might benefit you or someone you know, let's arrange a time to sit down and discuss your unique situation as well as your short- and long-term goals. Remember, rates are still very good, but they may not be for long.

 

Edward B Lowther Sales Manager Stagecoach Priority Certified Wells Fargo Home Mortgage

For Contact information on Ed Lowther, just drop me an email at Marty@DemandDonna.com or give me a call on my cell 573.216.1051

Great Osage Beach Location

• 1,120 sq. ft., 2 bath, 2 bdrm single story - MLS® $129,900 - Everything is Included

Osage Beach, Camden County  -  This gem of a condo has one of the best locations at the lake! With an astounding view of the Main Channel, and access to a great pool, this unit is a steal! The entire complex is being remodeled and now feels completely different and much more modern! Included is a fantastic 10X28 boat slip located under a covered dock. Hurry while this fantastic deal is still on the Market!

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Great Area of Homes

• 3,600 sq. ft., 4 bath, 4 bdrm 2 story - MLS® $849,999 - REDUCED

Porto Cima, Lake Ozark  -  Great New Home in Porto Cima,This is one of VERY few new homes for sale in Porto Cima, Lake of the Ozarks. Located in a quiet cove, this lovely home enjoys a nearly flat walk to the lake. There is plenty of room for your own pool if you are so inclined.

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Ozark Meadows

• 1,200 sq. ft., 2 bath, 2 bdrm single story - MLS® $133,900 - 

Osage Beach, Miller County  -  This home has it all. Excellent location in a very quiet neighborhood, within walking distance to the Pruitt Shopping Center. Including HyVee, Marshall, Target and Lowes. All one level living, fenced yard for your best 4 legged friend.AND brand new carpet through out. This lovely home looks like new. And you are automatically a member of The Ozarks Meadows Retirement Community. This includes the use of the facilities which are less than a block away, swimming pool, cafeteria, and social functions.

It includes a 2 car garage that opens to the full sized utility room. The kitchen, dining room and family room are all open and has a vaulted ceiling. The double glass sliding door opens to the covered concrete patio where you can sit and enjoy the outdoors.

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• 1,200 sq. ft., 2 bath, 2 bdrm single story - MLS® $96,500 - Just Listed

Compass Pointe, Osage Beach  -  Nice lake view from this updated two bedroom, two bath Osage Beach condo. Park directly in front of your condo to avoid the problem of finding a parking place. This unit is only steps away from one of the nicest pools at the lake. At $96,500 and the large square footage, this condo would make for a great full time home. Purchase this fall to have everything ready to curl up next to the fireplace this winter.

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I received the following in an email this morning. It has some good information on recognizing the symptoms of the flu vs. a cold. One other tip that I have found is take plenty of Vitamin D. It is supposed to be very effective in fighting off the H1N1. Stay Well! Marty H1N1: Information is the Best Defense! Despite predictions from researchers at Purdue University that the H1N1 outbreak will peak this week, the reality is that it won't be going away any time soon. Let's not forget that the news is filled with shortages of the vaccine, as the number of H1N1 cases continues to surge across the country. And federal officials have warned that a second, larger outbreak could occur in early January. The reality is that the best way to stop the spread of H1N1 is to know the symptoms and to take steps to protect yourself-and others-from it. The following information can help. What are the symptoms of H1N1... and how are they different from the common cold? Symptom Cold H1N1 Flu Fever Fever is rare with a cold. Fever is usually present with the flu in up to 80% of all flu cases. A temperature of 100°F or higher for 3 to 4 days is associated with the flu. Coughing A hacking, productive (mucus- producing) cough is often present with a cold. A non-productive (non-mucus producing) cough is usually present with the flu (sometimes referred to as dry cough). Aches Slight body aches and pains can be part of a cold. Severe aches and pains are common with the flu. Stuffy Nose Stuffy nose is commonly present with a cold and typically resolves spontaneously within a week. Stuffy nose is not commonly present with the flu. Chills Chills are uncommon with a cold. 60% of people who have the flu experience chills. Tiredness Tiredness is fairly mild with a cold. Tiredness is moderate to severe with the flu. Sneezing Sneezing is commonly present with a cold. Sneezing is not common with the flu. Sudden Symptoms Cold symptoms tend to develop over a few days. The flu has a rapid onset within 3-6 hours. The flu hits hard and includes sudden symptoms like high fever, aches and pains. Headache A headache is fairly uncommon with a cold. A headache is very common with the flu, present in 80% of flu cases. Sore Throat Sore throat is commonly present with a cold. Sore throat is not commonly present with the flu. Chest Discomfort Chest discomfort is mild to moderate with a cold. Chest discomfort is often severe with the flu. If you think you have the H1N1 flu, you should take a few common-sense steps to protect your friends, family members, and coworkers. For instance, if you feel sick, stay home until you feel better and have gone at least 24 hours without relying on medicine to break your fever. In addition, wash your hands, linens, dishes, and so on thoroughly. And cover your mouth and nose with a tissue when you cough or sneeze--and then throw the tissue away immediately. Finally, if you have to share a small space with other people, consider wearing a facemask to help make sure you don't spread the flu to the people around you. Follow these steps and monitor your symptoms to help stop the spread of H1N1...and remain happy and healthy!

Awsome Home

• 3,100 sq. ft., 4 bath, 5 bdrm single story - MLS® $589,900 - HUGE PRICE REDUCTION! ! !

Lake Ozark, Miller County  -  WOW, What a view yet still cove protected. Quality built home with 5 bedrooms and over 3,000 sq ft! The ceilings downstairs are 14 feet tall - They make you feel like you are in the King's Castle! Notice the extensive fluted woodwork around the windows and the triple crown molding on the ceiling. This was originally a builders home and extra care and quality is evident everywhere.  There is even a level driveway and an easy walk out to the large double well 42' dock.

If you like a flat driveway, an absolutely fantastic view, quality construction, all at a fantastic price, this is one to see.

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