San Diego Bayfair (Powerboat Racing)

Katie Hawkes brings the news.... for more information about San Diego or Rancho Santa Fe please give Katie Hawkes a call, she is the Rancho Santa Fe Real Estate Specialist www.katiehawkes.com or 585.922.2226.

San Diego Bay Fair (Powerboat Racing)     Sept. 16-18
Powerboats and hydroplanes race so fast on water that they nearly become airborne. 7am-6pm. Mission Bay. $20-$30 (General Pass) ~ $40 (3-Day Super Pass) ~ $10 (Pit Pas only) ~ FREE (military/child age 5 & younger) (619) 572-6274 / www.sandiegobayfair.org

The Last Day of the Del Mar Race Track.....

Katie Hawkes finds the news... http://www.katiehawkes.com/ or you can always give Katie a call to find out all about the Real Estate market 858.922.2226.... Katie Hawkes is one of the best Realtor's in the Rancho Santa Fe area!

DEL MAR (CBS 8) - What began on July 20 with the roar of over 45,000 ends with a whisper, or at least a whimper.

"I'm going to be very sad. I feel like crying today," an attendee said.

Among the horse owners and trainers, closing day at Del Mar is known as "get-away day". For patrons, It's get even day.

Leading jockey Joel Rosario has already wrapped his third consecutive Del Mar riding title.

"To be here in Del Mar is amazing, all the people you see here who come to support it, it's a really good feeling," Joel said.

The meet has been a success. Attendance has been good, about equal to last year, although patrons have bet fewer dollars.

"If you bet liberal, you win liberal," an attendee said.

"It's just been a smooth meet. The track's held up well -- I have nothing to complain about and I'm certainly not finding anybody feeling sorry for us," Joe Harper of the Del Mar Thoroughbred Club said.

But for today, for the well-heeled and the high-heeled, for big-buckers and Two-Buck Chuckers, it was the last chance for romance.

On this long, hot, last day of a very cool season, this annual San Diego summer ritual ends with a little pomp and circumstance and the usual final rallying cry.

"I can't wait 'til next year," attendees said.

Mortgage rater hold steady...

Katie Hawkes brings the news.... http://www.katiehawkes.com/

Mortgage rates hold steady for the past week at record lows. Pretty much everyone who has a mortgage that is more than 3 months old could potentially benefit from the lower rates. This helps consumers who are purchasing and refinancing. In a market where mortgage rates are this low, there is plenty of money available from the lender to pay for closing costs, and other costs as well. The high balance conforming loan limit for high cost areas including San Diego, is set to expire the end of this month. It was anticipated that the Feds would maintain these higher limits for an extended period but nothing has been solidified to date. This could only hurt buyers and sellers as it will drive up the rate for many who fall into that category.

Do you know that our Government gave $700 billion dollars in “Bail Out” money to the banks to help assist the homeowners in a “Loan Modification”?

According to “Wall Street Journal” homeowners are failing to achieve a loan modification because of missing paper work, and weak presentation of their financial package. There is no guidance from the banks to help the homeowners save their homes.

The banks have placed $680,000 homeowners on Trial Payments; only 10,000 received a permanent modification.  That is a 1.47% success rate.   HORRIBLE!!

BOA, Wells Fargo, and JPMorgan Chase in the first quarter made $13.6 billion dollars in profit.  These banks are making money while homeowners are losing their homes. Where is the money the government gave these banks going?  Treasury states servicers are not communicating to the homeowners in a loan modification.  The government is now mandating the process of the loan modifications with every bank.  They want to know why the modification success rate is extremely low.

Do you know that you are making your mortgage payments to a “Servicer” and not the bank that owns you’re “Mortgage Note”?   Your mortgage is sold in secondary marketing, and the bank that owns your note pays the servicer to collect your payments.   The servicer and investor are making a lot of money.

Jeff Olson

NMLS 235248

(858) 204-7373 cell

(760) 479-1803 fax

Host of "REAL ESTATE RADIO" Saturdays

Noon to 1:00 PM ON KPRZ AM 1210

HAPPY LABOR DAY.... REMEMBER TO ALWAYS, "LIVE THE DREAM"!!