NEW YORK (CNNMoney.com) — The Federal Reserve cut a key short-term interest rate by a half-percentage point Wednesday, its second significant cut in just over a week, as the central bank tries to combat the growing risk of a U.S. recession.U.S. stocks, which had been slightly lower ahead of the announcement, surged on news of the rate cut.

The federal funds rate, an overnight bank lending rate that affects how much interest consumers pay on credit cards, home equity lines of credit and auto loans, was cut to 3.0% from 3.5%. The rate had stood at 5.25% only four months ago.

via CNNMoney.com

One of the best gifts a seller can give a buyer is information about the simple things in life — when does the trash collector come, where’s the school bus stop, and what’s the best place to get a pizza.

Francis Tironi, owner of Tironi One Realty, and Timothy Mulchy, owner of Select Homes, both near Albany, N.Y., offer this additional list of information thoughtful sellers and real estate agents can provide that will make a buyer’s life better:

• Subdivision information, including a deed restriction book that lists the rules of the community.
• Appliance manuals, copies of receipts, and contact information for repair services, especially if the appliances are still under warranty.
• The location of the water main and its on/off valves.
• The location of the well, the depth and gallons per minute it produces.
• The location of the septic system and information who last cleaned it and when.
• Age of the roof, warranty information, and what company installed it.
• The names of reliable service people, including that of a plumber and a heating/air conditioning service.
• The names and phone numbers of nearby, good neighbors.

Source: The Albany Times Union, Stephanie Earls (01/27/08)

Rob Ellett of PMZ Real Estate was honored this past Friday, January 25th, at the Modesto Chamber of Commerce award banquet.

Congratulations Rob!

via ModBee.com

Agents, the California Association of Realtors, is offering a free web-based marketing tool to all members.  If you are a member, that means you!  Yes, you!

It’s a prebuilt newsletter with original content each month that features your picture, contact information and listings.

This newsletter is delivered straight to your clients’ inbox, no fuss, no muss.

To sign up for this FREE service, visit www.car.org and click on “Newsletter Sign-Up” on the homepage.

The Federal Reserve slashed two key interest rates by three-quarters of a percentage point Tuesday following an unscheduled meeting, citing continued concerns about a weakening economy and turmoil in the financial markets.via: CNNMoney

The Board of Directors of the Lodi Association of Realtors would like to meet with real estate agents and other new members to LAR throughout the area to discuss current services or ideas for new services LAR should provide.

The meeting will be held Friday, February 8th, 11:30 AM to 1:30 PM, at the Holiday Inn Express, 4300 Bangs Ave, Modesto - in the Central Valley Room.

LAR will be providing with pizza, salad & dessert. Please RSVP no later than Monday, Feb. 4th by email or by calling 209 (368-5316).

Along with suggestions on services, LAR would be glad to answer any questions about membership in LAR.

Rowdy neighbors. Filthy neighbors. Neighbors who never speak.

Some neighbors are boors and it can affect property values, says Deborah Ford, director of the bachelor of science program in real estate and economic development at the University of Baltimore.

“There are strict laws about housing discrimination, so [real estate practitioners] can’t do or say anything that would deter someone from moving to a community,” Ford says. [But, “if people get tired, some of them will decide, ‘I’m moving out.’”

Johns Hopkins University professor P.M. Forni, founder of the Johns Hopkins Civility Project and author of the book Choosing Civility, says he has always found it fascinating that the word “rival” comes from a Latin word for “neighbor.”

Now writing a follow-up called The Civility Solution: What to Do When People Are Rude, Forni offers these neighborly tips from his upcoming book:

When walking your dog make sure that your pooch does not stray onto your neighbor’s lawn. Clean up after your pet.

Do not schedule grass-mowing or leaf-blowing before 10 a.m. on Saturdays or Sundays.

Let your neighbors in the apartment building or cul-de-sac know when you are planning a party with multiple guests. Apologize in advance for any parking-related inconvenience that might occur.

If you have planned substantial renovation work, send a note to your neighbors with beginning and ending dates of the project and the daily working hours. Assure them that you have instructed your contractor that there must be no spilling over of the site onto neighboring properties. Include in the envelope two carwash gift certificates apologizing for the inevitable dust. Send an e-mail to neighbors to give updates or get feedback about how your contractor is doing.

via: The Baltimore Sun, Donna M. Owens (01/13/2008)

Federal Reserve Chair Ben Bernanke told a Washington D.C. business group Thursday that more interest rate cuts are in the offing to ward off a further weakening of the economy.

“On the whole, despite improvements in some areas, the financial situation remains fragile, and many funding markets remain impaired,” Bernanke said. “We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks.”

Many economists now believe the Fed will slice its key interest rate by a bold one-half of a percentage point when the Fed meets Jan. 29-30. Some, however, think the Fed will go with a more modest one-quarter point reduction, given concerns that high energy prices could spark inflation.

The Federal Open Market Committee (FOMC), the policy-making arm of the Fed, will be paying close attention to whether the weak housing market spills over to other sectors of the economy. However, so far, Bernanke said, the recession remains just a forecast.

Via: Dow Jones Business News (01/10/08)

It’s always difficult when a close family member dies.  Especially one as influential as Dwayne Emil Lilly.

Mr. Lilly, father to PMZ’s Dennis Lilly and grandfather to PMZ’s Zach Lilly, was a Ripon native and moved to Modesto  with his family in 1925.  He served as a county employee for 36 years and was elected Stanislaus County clerk recorder in 1978.

Described by co-workers and friends as a “gentlemen,” Mr. Lilly believed his service to the county ought to be “professional, courteous and above reproach,” retired county Supervisor Ray Simon said Wednesday.

In addition to being a public servant locally, Mr. Lilly served in the Army Air Forces in Europe in the mid 1940’s.

While not taking care of public interests, he entertained almost every Saturday night for 30 years at the Senior Citizens Center as a Dixieland jazz pianist.

PMZ’s deepest condolences go out to the Lilly family and anyone else affected by the loss of Dwayne Emil Lilly.

Source: The Modesto Bee