Michael Umphrey's Blog

The Neighborhoods of Santa Fe

Eight Weeks – Michael’s Blog

We are eight weeks into 2009. That is all the time that our 12 year old son, Nick, needed to learn to snowboard with skill and confidence.  That is also his 6 months into the 7th grade.  I am only aware of the smallest fraction of everything he has learned in school in that amount of time.  It makes me stop to think of what I’ve learned in eight weeks.  Have I learned a new skill or sport, read as much as he has, made as many new friends?  I am big on goal setting- short term, mid-range and long term goals and asking myself  “What can I do today to get one step closer to reach them?” These seven weeks have gone by quickly.  There is so much to learn, so much to read.

    Here’s my Umphrey Bit of Real Estate for this week:
    Buyers who choose to wait until interest rates come down more are also gambling that interest rates will hold steady or drop.  What is not widely understood is the impact interest rates can have on the monthly costs of homeownership.  Even a 10 percent drop in home prices is immediately nullified by a mere 1 percentage point increase in interest rates on a 30-year mortgage loan.
    See you next week!


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