Thomas Janos

Fannie Mae And Freddie Mac Takeover: What Does It Mean?

09-11-08

Fannie Mae And Freddie Mac Takeover: What Does It Mean?
By: Kimbrough Gray

So on Friday it was leaked that the government is taking over Freddie Mac and Fannie Mae. On Sunday it was official. Freddie Mac and Fannie Mae have now been taken over by the federal government. But what does it mean for the real estate market, mortgage interest rates, and the US economy.

First let's look at what it means for mortgage rates. I would expect that the government takeover will result in lower mortgage rates, possibly a full point lower. Why? Basically the Fed has been struggling to lower mortgage rates for the last year in an attempt to assist the troubled real estate market. The Fed has lowered prime rates several times in an attempt to pull down mortgage interest rates. In spite of this over the last 8 months mortgage interest rates have mostly risen. Now with full control of Freddie Mac and Fannie Mae (which provides insurance for most mortgages in the US) they will have much more control over the mortgage market and mortgage rates. As long as their objective stays the same, we can expect lower rates.

What does the takeover say about the current situation in the real estate market? This should have been obvious from all the events that preceded this but the takeover shows that the real estate market is in serious trouble. The federal government doesn't just take over large companies on a whim, especially an administration with a Republican president that believes strongly in free markets. This is not simply a government takeover. This is the largest takeover in US history. Basically the takeover happened because it was believed if nothing was done we were headed for economic catastrophe.

How is this going to effect the real estate market? Although the takeover is a bad sign about our current situation it should have a positive effect on the real estate markets moving forward. First lowering mortgage interest rates should be quite a boon for the real estate market. Lowering rates lowers the effective cost of a house. And historically lowering rates has a positive effect on real estate values.

Additionally, if the Fed is smart they will reduce some of the mortgage restrictions Freddie Mac and Fannie Mae have created in the last year. While I would not like to see the mortgage market return to the free-wheeling lending of a few years ago, some of the current rules are bizarrely restrictive. The lending environment typically works like a pendulum moving from one extreme to another. Currently lending restrictions are not just stricter than what we saw during the real estate boom a few years ago but they are more restrictive than anything we have seen in the last 15 - 20 years. Hopefully a federally controlled Fannie Mae and Freddie Mac can help return us to normal as far as lending restrictions.

Lastly the government takeover could put taxpayers in the lurch for billions in loan losses. In the short term the government is going to have to infuse money into Freddie Mac and Fannie Mae. They have been losing money for quite some time and that is not going to change overnight. The government will have to around 20 to 30 billion into Fannie Mae and Freddie Mac to get them back to financial solvency.

Does this mean the federal government is insane? It depends on how you look at the issue. While taking over Fannie Mae and Freddie Mac will be very costly for the government and taxpayers, allowing them to fail could have led the US economy into a depression. In a depression those that keep their jobs have to make up for all the lost tax revenues for the large number of people that lose their jobs. So taxpayers could have been in a lurch if the Feds had decided to stay on the sidelines. So in summary the federal government found itself in a tight spot and decided to bet that they can fix the real estate market. We will find out if they were correct over the next several months.

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A Calendar of White Bear Events

08-04-08

Thomas Janos

July 24, 2008
Marketfest
Downtown White Bear Lake, 6 - 9 PM
Marketfest is a free summer festival featuring live entertainment on two stages, children's activities, a farmers market, a classic car show, a petting zoo, covered wagon rides, over 150 vendors offering a wide variety of products, and much more!
Kowalski's Gazebo: Big Walter Smith
Qwest 3rd Stage: John Evans & Dan Perry
For more info, go to www.Marketfest.org

July 31, 2008
Marketfest
Downtown White Bear Lake, 6 - 9 PM
Marketfest is a free summer festival featuring live entertainment on two stages, children's activities, a farmers market, a classic car show, a petting zoo, covered wagon rides, over 150 vendors offering a wide variety of products, and much more!
Kowalski's Gazebo: Brady's Big Band
Qwest 3rd Stage: Tim Brown & Chris Herriges
For more info, go to www.Marketfest.org

August 9, 2008
Children's Carnival
Bellaire Beach, 1 - 4 PM
Featuring more than 20 children's games and activities on the beautiful shore of White Bear Lake.
For more info, go to www.WhiteBearHistory.org

August 11, 2008
2009 Governor's Fishing Opener
Community Informational Meeting
White Bear Country Inn, 6 PM
This will be a community meeting for everyone to find out what the 2009 Governor's Fishing Opener is and what it will do for White Bear Lake. If you have any questions you can call 651-653-5122.
For more info, visit our Governor's Fishing Opener page.

August 16, 2008
KidsFest
Birch Lake Elementary, 10 AM - 12 PM
1616 Birch Lake Avenue White Bear Lake, MN
Designed with young kids and their curiosities in mind, KidsFest gives attendees the chance to get a feel for music through instrument exploration, sample classes, live music, a dance room, and more. Parents and children can move to the music with ribbons and scarves and explore new sounds on a variety of instruments with the help of MacPhail Center for Music faculty. Admission is free.
For more info, go to www.MacPhail.org

August 23, 2008
Community Iron Pour
Downtown White Bear Lake, 4:30 - 9 PM
Parking lot near Washington Grill
The White Bear Center for the Arts and Iron Head Sculptural Services invites the public to its annual Iron Pour to help us celebrate artwork made by YOU, the community. A roaring, flame-shooting furnace will turn 1,000 pounds of recycled iron into artwork of YOUR DESIGN in the form of a 10" x 10" iron tile. This opportunity is family friendly, appropriate for all ages, and for those without any previous experience. This event draws a crowd of all ages to downtown White Bear Lake every year so come early, enjoy dinner at one of our White Bear Lake restaurants and join us for a night to remember. Special sandblocks made of sand and an organic binder are available for only $60 members/$75 non-members and includes class instruction on how to carve your design and the use of our carving tools. Sandblocks must be carved in advance of the Iron Pour. Carving a design is easy and fun for the whole family. This event is held in collaboration with Washington Square Bar & Grill and the city of White Bear Lake.
For more info, go to www.WhiteBearArts.org

September 5 - 28, 2008
Axel and His Dog
Lakeshore Players Theatre
4820 Stewart Avenue White Bear Lake, MN 55110
Written by our original cast member Don Stoltz, Axel and His Dog is a funny and fascinating look at the early days of Twin Cities television as well as a touching testament to friendship. Poignant real life stories of the Axel TV cast are balanced by the zany comedy that was a signature of the original Axel children's show. This event is directed by Steven Peterson and is friendly for the whole family.
For more info, go to www.LakeshorePlayers.com

October 24 - November 23, 2008
70, Girl, 70
Lakeshore Players Theatre
4820 Stewart Avenue White Bear Lake, MN 55110
Based on the 1958 play, Breath of Spring, this jewel of a musical comedy by Kander and Ebb tells the tale of larcenous senior citizens living on New York's upper west side. In order to shore up the dreary retirement hotel they call home, they form a ring of thieves, wreaking havoc in stores from Sadies' Second Hand Furs to Bloomingdale's, and regaining their zest for life. 70, Girl, 70 is directed by Doug Dally.
For more info, go to www.LakeshorePlayers.com

November 22, 2008
A Red Carpet Affair - CHA Ball
Crowne Plaza Riverfront - St. Paul, MN
Please plan to join us at our 59th Annual Benefit Ball to celebrate CHA's 75th anniversary. This spectacular red carpet affair will be an evening of fine dining with dancing and entertainment by the Roseville Big Band and the Brian Kinney Band. Our Fund-A-Need this year will continue CHA's tradition of raising money to cover the hospital bills of children in our community. The Fund-A-Need is a unique and wonderful way for the CHA community to pool their resources and support our mission. For further information, call the ball hotline at 651.220.6644.
For more info, go to www.CHA-StPaul.com

December 4 - 14, 2008
The Hanging of the Greens
Lakeshore Players Theatre
4820 Stewart Avenue White Bear Lake, MN 55110
The Hanging of the Greens is a premiere of a new play. This play was adapted from an old German legend about the origins of the tradition of hanging greenery for the holidays to keep away the evil Witch of the Woods. But when children play, instead of hanging the greens, what will become of them? The Hanging of the Greens is written and directed by Claudia Haas.
For more info, go to www.LakeshorePlayers.com

January 24, 2009
Second Annual "BEAR"ly Open Golf Tournament
Frozen White Bear Lake, MN 55110
The second annual "Bear"ly Open is a golf tournament on ice! More information will be coming soon.
For more info, go to www.WhiteBearLake.org

The Janos Group
ReMax Specialists
4910 Highway 61
White Bear Lake, MN 55110
651-407-7803 Office
651-407-7910 Fax

www.TheJanosGroup.com

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White Bear Lake School Information

06-12-08

Thomas Janos

Elementary Schools
Birch Lake	1616 Birch Lake Ave White Bear Lake, MN 55110	OFFICE: 653-2776 FAX: 653-2778 ATTENDANCE LINE: 653-2777 HEALTH OFFICE: 653-2624	K-5	Ms. Becky Berkas Principal Jason Healy, school coord.
Centerpoint	2530 Spruce Place White Bear Lake, MN 55110	OFFICE: 653-2847 FAX: 653-2849 ATTENDANCE LINE: 653-2848 HEALTH OFFICE: 653-2857	K-5	Ms. Susan Donovan Principal Mr. John Leininger School Coord. Ms. Rebecca Peterson School Coord.
Lakeaires	3963 Van Dyke St White Bear Lake, MN 55110	OFFICE: 653-2809 FAX: 653-2811 ATTENDANCE LINE: 653-2810 HEALTH OFFICE: 653-2612	K-5	Ms. Susan Donovan Principal
Lincoln	1961 Sixth St White Bear Lake, MN 55110	OFFICE: 653-2820 FAX: 653-2822 ATTENDANCE LINE: 653-2821 HEALTH OFFICE: 653-2829	K-5	Mr. Dan Schmidt Principal
Oneka	4888 Heritage Pkwy North Hugo, MN 55038	OFFICE: 288-1800 FAX: 288-1899 ATTENDANCE LINE: 288-1802 HEALTH OFFICE: 288-1803	PreK-5	Ms. Teresa Dahlem Principal
Otter Lake	1401 County Rd H2 White Bear Lake, MN 55110	OFFICE: 653-2831 FAX: 653-2833 ATTENDANCE LINE: 653-2832 HEALTH OFFICE: 653-2846	K-5	Mr. Max DeRaad Principal
Parkview	2530 Spruce Place White Bear Lake, MN 55110	OFFICE: 653-2847 FAX: 653-2849 ATTENDANCE LINE: 653-2848 HEALTH OFFICE: 653-2857	K-5	Ms. Susan Donovan Principal Mr. John Leininger School Coord. Ms. Rebecca Peterson School Coord.
Vadnais Heights	3645 Centerville Rd Vadnais Heights, MN 55127	OFFICE: 653-2858 FAX: 653-2860 ATTENDANCE LINE: 653-2859 HEALTH OFFICE: 653-2695	K-5	Ms. Becky Berkas Principal
Willow Lane	3375 Willow Ave White Bear Lake, MN 55110	OFFICE: 773-6170 FAX: 773-6176 ATTENDANCE LINE: 773-6175 HEALTH OFFICE: 773-6174	K-5	Ms. Barbara Kearn Principal
Middle Schools
Central	4857 Bloom Ave White Bear Lake, MN 55110	OFFICE: 653-2888 FAX: 653-2885 ATTENDANCE LINE: 653-2880 HEALTH OFFICE: 653-2758 COUNSELING OFFICE: 653-2881	6-8	Dr. Noel Schmidt Principal Mr. Robert Brewer Assoc. Principal
Sunrise Park	2399 Cedar Ave White Bear Lake, MN 55110	OFFICE: 653-2700 FAX: 653-2716 ATTENDANCE LINE: 653-2723 HEALTH OFFICE: 653-2713 COUNSELING OFFICE: 653-2715	6-8	Mr. David Law Principal Ms. Carrie Barth Assoc. Principal
High Schools
White Bear Lake Area High School - North Campus	5040 Bald Eagle Ave White Bear Lake, MN 55110	OFFICE: 653-2920 FAX: 653-2630 ATTENDANCE LINE: 653-2911 HEALTH OFFICE: 653-2940 COUNSELING OFFICE: 653-2912	9-10	Mr. William Soltys Principal Mr. Dion Harriman Assoc. Principal Ms. Christina Pierre Assoc. Principal
White Bear Lake Area High School - South Campus	3551 McKnight Rd White Bear Lake, MN 55110	OFFICE: 773-6200 FAX: 773-6215 ATTENDANCE LINE: 773-6211 HEALTH OFFICE: 773-6238 COUNSELING OFFICE: 773-6221	11-12	Mr. Tim Wald Principal Mr. Brian Leonard Assoc. Principal Mr. Jack Solem Assoc. Principal
WBL Area Learning Center * The ALC also offers programming for middle school students at both Central and Sunrise Park (Bridges) and for ninth graders at North Campus (Tripod).	2449 Orchard Lane White Bear Lake, MN 55110	OFFICE: 773-6400 FAX: 773-6402	9-12*	Ms. Julia Jilek Director
INSIGHT * A recovery high school for students who have completed a chemical treatment program.	2449 Orchard Lane White Bear Lake, MN 55110	OFFICE: 773-6417 FAX: 773-6402	9-12*	Ms. Julia Jilek Director Traci Bowermaster INSIGHT Coord.
Additional Sites
Transition Plus Services * Transition services for students with special needs, ages 18-21.	4411 Lake Ave South White Bear Lake, MN 55110	OFFICE: 773-6051 FAX: 773-6052	Ages 18-21	Mr. Dean Shawbold Coordinator
Normandy Park Education Center
Early Childhood Program	2482 East Cty Rd F White Bear Lake, MN 55110	OFFICE: 653-3100 FAX: 653-3155	Ages 0-5	Margie McMahon Supervisor
Senior Program	2484 East Cty Rd F White Bear Lake, MN 55110	OFFICE: 653-3121 FAX: 653-3155	Ages 50+	Ms. Barb Green Coordinator

To find the value of your home with a free, over-the-net home evaluation, please visit our website: www.TheJanosGroup.com

If you would like a free list of homes for sale in this area/neighborhood, would like more information about White Bear Lake or would like to be the first to know about hot new listings before other buyers do, then give us a call at:

The Janos Group
ReMax Associates Plus, Inc.
4910 Highway 61
White Bear Lake, MN 55110
651-407-7803 Office
651-407-7910 Fax

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White Bear Lake Real Estate

06-12-08

Thomas Janos

We here at The Janos Group continuously monitor local real estate statistics to keep our clients and neighbors informed and ahead of the real estate trends. Below you will find the White Bear Lake Real Estate statistics for the month of May 2007 compared to May 2008 as well as the year to date comparison.

White Bear Lake	May			Year to Date
	2008	2007	Change	2007	2008	Change
New Listings	66	79	-16.5%	299	282	-5.7%
Closed Sales	27	27	-0.0%	122	83	-32.0%
Average Sale Price	$209,958	$260,583	-19.4%	$266,619	$207,984	-22.0%
% of Orig List Price *	93.4%	94.3%	-0.9%	95.1%	91.6%	-3.6%
Average Days on Market **	154	141	+9.7%	136	162	+18.7%
Single-Family Detached Inventory	153	141	+8.5%	-	-	-
Townhouse-Condo Inventory	72	63	+14.3%	-	-	-

Information obtained by the Minneapolis Area Association of Realtors.
*Does not account for list prices from any previous listing contracts
**City market time figures are based on Cumulative Days on Market, which does account for previous listing contracts

To find the value of your home with a free, over-the-net home evaluation, please visit our website: www.TheJanosGroup.com

The Janos Group
ReMax Associates Plus, Inc.
4910 Highway 61
White Bear Lake, MN 55110
651-407-7803 Office
651-407-7910 Fax

0 Comments

Thomas Janos
The Janos Group / ReMax Specialists

Thomas Janos: Real Estate Agent in White Bear Lake, MN

Office: (651) 407-7803

The Janos Group is your local real estate experts in the Eastern and North Eastern Suburbs of the Twin Cities. If your looking to buy or sell property we can assist you.

About Us:

Our Services Available To You

The Janos Group delivers a true one-stop-shopping opportunity for home buyers and sellers. These services include the professional coordination of the home search, property marketing, negotiation of purchase or sale and details of closing. For properties of special merit, we offer the unique resources of our Distinctive Homes/Previews division. We also offer home financing through Advisors Mortgage, title insurance and closing through First American Title. We are Multi-Million Dollar Producers so we are more than qualified to assist our clients with all types of transactions from the small to those of special merit.

Our Mission Statement

To take the stress and worry out of buying or selling your home. Providing the best service and dedication possible.

Our Business Philosophy

Customer service and satisfaction are foremost our business. We wish not only to be your current real estate consultants, but your life long real estate consultants, for you, your friends, and your family, so to do that we must work hard to earn your business and your trust. In order to succeed in that task we must know exactly what your wants and needs are in selling or buying your home, so we ask a lot of questions and spend a lot of time and energy in assisting you in making your transaction as pleasant and as worry free as possible. We are always available to assist you in anyway possible up to the closing and in the future with all your real estate needs. As our motto says, "Making All Your Transactions A Smooth Ride".

Membership & Awards

Licensed Realtors in Minnesota
Members of the National Association of Realtors
Members of the St Paul Area Association of Realtors
Members of The Minnesota Association of Realtors
Tom is on the Board of Directors for the St Paul Area Association of Realtors
Members or the SPAAR Housing Committee
Members of the SPAAR Government Affairs Committee
Multi-Million Dollar Producers
Members of $500,000 Club
Members of $1,000,000 Club
Mentor Program
Tom Currently trains agents in the following fields:
Expired Listings, Top Producer Systems, Foreclosures, Property Marketing, Marketing Strategies, Listing Presentations, Technology & Real Estate
Publisher's of: “What You Need To Know About Foreclosures”

Areas of Expertise

We at The Janos Group are your local experts in the Eastern and North Eastern Suburbs of the Twin Cities. Specializing in the areas of: White Bear Lake, Dellwood, Grant, Mahtomedi, Hugo, Centerville, Lino Lakes, Forest Lake, Stillwater, North Branch, The Chisago Lakes Area, Wyoming, Stacy, Woodbury, Maplewood, Oakdale, St Paul, West Lakeland, Lakeland, Lake Elmo, Shoreview, North Oaks, Blaine, and their surrounding areas. So if you're looking to buy or sell Townhomes, Single Family Homes, Lake Property, Foreclosures, New Construction, or Investment Properties please give us a call today, or e-mail us.

Testimonials

Tom & Kathy,
You were great and sold our house in 11 Days for full price and put us in touch with an agent in Wisconsin that helped us find our new home. You were super!
Ali C. & Kevin W.

Tom & Kathy sold my house in 5 days for full price while other homes were on for 2 or 3 months. They sold it so fast I had to move in with a friend until my new home was finished.
Karen C. & Little Zoë

Tom & Kathy put us in contact with an agent in Hayward to sell our cabin while they sold our house. Both sold in only 5 days and both sold for full price. We were in our new home in Florida when they both closed.
Sam & Sara

Tom & Kathy sold my house that was on a noisy interstate highway for $25,000 more than I paid for it only 4 days before listing it, and sold it in only 42 days.
Laura M.

Tom & Kathy,
Thanks for finding our new home. The men have the shop they always wanted and we have enough rooms for everyone. ($27,000 under list price)
Jim, Vanessa S. and Mark B.

Tom & Kathy sold our house in 44 days with more than 25 showings, when the other two agents we hired had it for over 520 days and only had 20 showings in the last year.
Mike and Eldora W.

Tom & Kathy,
Thanks for your help finding my new home. I couldn’t do it without your expertise. We love our neighborhood and it is close to downtown and shopping.
Tomeka H.

Tom & Kathy sold my house in 16 Days for full price and found me my new home which we love. I recommend them all the time.
Laura M. & Gizmo

Tom & Kathy,
Thanks for not giving up on us and for finding the lot for our new home. After over 16 months we had almost given up on finding what we wanted. We are glad you didn’t give up on us.
Bob & Phyllis S.

Tom & Kathy,
Thanks for your help finding my new lake home. I have the best view in the world from my porch and patio. ($54,900 Under list price with all the furniture)
Sue J.

Tom & Kathy,
Thanks for finding our new home. We can’t believe we could own such a beautiful home.
Russ & Rebekah B.

Tom & Kathy,
You did a great job in selling my house when my old agent couldn’t do it in one year.
Cheryl O.

Thomas Janos

Fannie Mae And Freddie Mac Takeover: What Does It Mean?

A Calendar of White Bear Events

White Bear Lake School Information

Elementary Schools

Middle Schools

High Schools

Additional Sites

White Bear Lake Real Estate

Thomas JanosThe Janos Group / ReMax Specialists

About Us:

Areas of Expertise

Testimonials

Thomas Janos
The Janos Group / ReMax Specialists