Bay Area Finance: Week 2, August 2009

This week’s article in the link below uses a lot of terms that make the read seem sort of exclusively meant for those with a greater understanding of the ever-complicated finance world than most ordinary homeowners would ever possess.  This is a very common thing, and I wish more explanations came along with some of these articles— such as with more hyperlinks— so more folks can fathom what the message is.  But I chose this somewhat complex article because it underscores something I have contended in discussions with colleagues for months: how the secondary market (where mortgages are bundled and sold as securities to investors) has undervalued a vast swath of these bundled mortgage securities for months and months— grasping far too exclusively for the Fannie/Freddie-guaranteed securities instead.  What I contend, in layman’s terms, is that the array of lending products we see available to the consumer has been severely and incorrectly hampered by both fear and poor evaluation of these securities… so much so that some traditionally great-value securities have been dismissed.  Place that description to any product at all and what you find is value that’s been quite carelessly neglected.  But, like sweet vindication, this is what the article exposes: how value actually is now being recognized in mortgage securities outside of the Fannie/Freddie bubble.  And without question, the more of that we see, folks, the better— because the secondary market is truly what drives everything in lending.

If you’d like to learn more about some of the secondary market click here.

To contact me about financing your dream-home click here.

Weekend Wanderer’s Events

…finding the treasures in your town and beyond. 

Two for This Weekend:

“The Frogs” by Aristophanes in Woodside:  “Come prepared for hiking”, they say, since this one is at the Theatre in the Woods outdoors and the performance actually takes place along the hike.  The show, “…is a Greek comedy by Aristophanes about Dionysus, the God of Theater, and his servant as they descend to the Underworld to bring back a worthy poet who can help Athens in its darkest hour.”  How cool is that?  See here for more info.   

“HandMade Nation” Screening and Director’s Q&A in San Francisco: This film screening by artist, author and filmmaker Faythe Levine will be part of the American Craft Council Show this weekend in San Francisco.  It chronicles the rise of the Do it Yourself movement in craft making where the punk culture and, say, the knitting culture intersects.  It assures some pretty interesting stuff for any artist or craftsperson, for sure.  Check it out here for more info. 

Help Your Fellow Living Beings:

Mentor a child right from your computer!: From their website:  “Become a caring pen pal with ePals’ eMentoring literacy program–In2Books.   On your own time, right from your desk, correspond with a third-fifth grade student via online letters about important issues in five books you will read together throughout the school year. It only takes a few hours a month from September – June.”  School is back in session, and here is a chance for you to be a real help.  Check it out here for more info.

Two Weekends from Now:

Bay Area Tap Festival in San Francisco:  Bay Area Rhythm Exchange is putting on their annual tap dance production, touted by the SF Chronicle as one of their picks for “Top Ten Dance Performances of the Year!”.  The historic Herbst Theatre will be the site for this year’s show which will include live musical accompaniment to the dancers’ performances as well.  See here for more info on the performances both Friday and Saturday of next weekend. 

Pic of the Week… from my own camera.

The “Living Roof” at San Francisco’s spectacular new

California Academy of Sciences in Golden Gate Park