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Best Kingstowne Value
• 2,500 sq. ft., 4 bath, 3 bdrm townhouse "3 finished Levels" - $514,000 - Exceptional Value
Kingstowne Center, Alexandria
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This morning, September 18th, the Bureau of Labor Statistics reported that The Producer Price Index for Finished Goods fell 1.4 percent in August, seasonally adjusted. This decrease followed a 0.6-percent increase in July and a 0.2-percent decline in June. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 1.2-percent in August compared with a 0.6-percent advance in July, and the crude goods index dropped 3.0-percent after climbing 1.2-percent in the prior month.
Overall, however, Core PPI actually increased 0.2-percent in August.
The Producer Price Index (PPI) of the Bureau of Labor Statistics (BLS) is a family of indexes that measure the average change over time in the prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI). CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices can differ due to government subsidies, sales and excise taxes, and distribution costs. (It is the index of Inflation at the "Wholesale" level.)
This report should provide increased pressure on the Federal Reserve to lower the Federal Funds Rate, and perhaps the likelihood of a rate cut of 0.5% has increased over most analysts' estimate of a 0.25% rate reduction. How this continuing news of broad economic weakening is viewed by the Fed, with their primary focus on containing inflation will be more evident at 2:15 p.m. this afternoon, when the Fed will announce its decision.
After the BLS' release of the PPI numbers, early trading in the finance markets saw investors leaving bonds (increasing yields) and headed for the equity markets in anticipation of a larger-than-planned rate cut by the Fed, which would improve corporate profitability.
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Mantua - We invite everyone to visit our open house at 9323 Tovito Drive on September 16 from 1:00 PM to 4:00 PM.
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Don't miss the semi-annual MOMs of Mantua Sale of Children's clothing, toys and gear Saturday Sept 15: 8am-1pm upstairs in the pool clubhouse. The sale closes at 11:45 and reopens at 12:10-1:00pm for 1/2 price sale.
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Volkswagen Arrives Bearing Gifts
To lure Volkswagen of America to Herndon, Virginia Gov. Tim Kaine (D) worked for seven months and authorized $6 million in incentives.
So when he arrived this morning for the formal announcement ceremony to talk about the importance of Volkswagen's move to Northern Virginia, he first stopped a quarter mile from the Woodland Park site, exited his official Suburban and got into an Audi 8A, one of the major brands manufactured by Volkswagen.
Volkswagen is moving from Auburn Hills, Mich., near Detroit, as part of a corporate restructuring (see story) that will slash 400 jobs in Michigan and move 400 additional jobs to Herndon. It will also result in $100 million in investment in the new headquarters.
Kaine, Volkswagen of American chief Stefan Jacoby, Fairfax Economic Development Authority chief Gerald Gordon and Fairfax County Board of Supervisors chairman Gerald E. Connelly made the announcement this morning in front of about 60 people overlooking the new building. A handful of reporters, photographers and and cameramen chronicled the event.
Kaine presented Jacoby with Virginia's flag. Then Jacoby spoke, discussing his vision for his company -- which has experienced sagging sales in the United States -- and announced he had a small present for Kaine.
Kaine wondered whether it was the keys to a a silver Audi R8 over his right shoulder. (That's a $130,000, 420 horsepower beauty that can go from zero to 60 in four seconds.)
Alas, his gift wasn't so elaborate. Jacoby gave Kaine a toy model of the original red Volkswagen Beetle, perhaps the car most associated with the company in the United States.
In his talk, Connelly (D) used the opportunity to tout the new rail to Dulles that Virginia wants to build. After the event, both he and Kaine were peppered with questions about how Virginia would meet cost caps for receiving federal help.
Guests snacked on water and Panera pastries as they inspected the selection of Volkswagen cars, including a Eos convertible and modern Beetle.
--Zachary A. Goldfarb - Washington Post.com Biz Blog
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If you've been waiting for the right time to buy . . . it's now!
T oday's Employment Report from the U.S. Department of Labor showed marked and unexpected weakness in non-farm payrolls, sending the stock market downward and the bond market upward (lowering bond-yields.)
The 10-Year Treasury Note's yield is down nearly 3% and the 30-Year Note's yield is down over 2%. And "Two-year notes haven't been this low since December 2004," noted Tom diGaloma, head of Treasury trading at Jefferies & Co..
Although long-term mortgage loan rates are more closely tied to the Mortgage Backed Securities market, the Treasury's long-term bonds are competitive products in the marketplace and will necessarily have an affect on mortgage rates.
Further, even the most conservative pundits are forecasting a drop in the Federal Funds Rate by one-quarter (1/4%) to one half percent (1/2%) by the September 18 FOMC Meeting. This will be great news to anyone with an adjustable rate mortgage as well as anyone planing to use adjustable rate loan products to purchase a home.
With home prices having already moderated significantly, this situation will dramatically increase home ownership affordability.
There has not been a more favorable time to consider a home purchase since early 2005.
Don't miss the boat! Be sure your lender offers a free "float-down" on their rates. You'll be so glad you did.
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Confederate Ridge, Centreville - We invite everyone to visit our open house at 6910 Confederate Ridge Ln on September 2 from 1:00 PM to 4:00 PM.
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Mantua Open House - We invite everyone to visit our open house at 9234 Okla Drive on September 2 from 1:00 PM to 4:00 PM.
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Devil's Reach Condos, Lake Ridge - We invite everyone to visit our open house at 12992 Abner Avenue on August 26 from 1:00 PM to 4:00 PM.
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Stockbridge, Mantua - We invite everyone to visit our open house at 9323 Tovito Drive on August 26 from 1:00 PM to 2:00 PM.
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Ridgelea Estates, Mantua - We invite everyone to visit our open house at 8924 COLESBURY PLACE on August 26 from 1:00 PM to 4:00 PM.
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Westchester, Mantua - We invite everyone to visit our open house at 9234 Okla Drive on August 12 from 1:00 PM to 4:00 PM.
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Stockbridge, Mantua - We invite everyone to visit our open house at 9323 Tovito Drive on August 12 from 1:00 PM to 4:00 PM.
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Immaculate & Updated Colonial
• 3,400 sq. ft., 4 bath, 4 bdrm 2 story "+ Finished Basement" - $875,000 - Outstanding Value
Ridgelea Hills, Mantua - Truly Outstanding Colonial in Mantua's Ridgelea Hills. One of Mantua's finest neighborhoods. This wonderfull home is loaded with updates and improvements including a Comlpletely Remodeled Kitchen. Hardwood floors throughout main level. Family room off kitchen (21 x 13) with floor-to-ceiling brick wall (Danish Brick) fireplace with gas logs. "Bedroom-Level Laundry Room." Large bedroom sizes, including the 20' x 13' Master Bedroom + Dressing Area. Fully finished basement with recreation room (Pool Table Conveys), Guest Suite and remodeled Full Bath. Large, Landscaped, Fully Fenced Back Yard with tiered Deck overlooking beautiful lawn. Malibu Lighting for evening enjoynment. 2-Car, Oversized Garage, and More . . . Mantua/Frost/Woodson School Pyramid. THIS IS A MUST SEE!
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3-Level Townhouse . . Condo Price!
• 1,414 sq. ft., 2 bath, 2 bdrm townhouse "3-Levels!!"
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MLS®
$279,000
- Outstanding Value
Devil's Reach Condos, Lake Ridge
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Lovely 2-Bedroom, 1.5, Bath, 3-Level Townhome full of warmth, charm & elegance ~ Shows like a model home! Outstanding condition! Light-filled interior features gleaming hardwood floors in Living Room, Dining Area and Kitchen! 2 spacious Bedrooms with custom window treatments & ceiling fans. Dual-entry hall bath features Double Vanity Sink. Walkout Lower Level is fully finished & is sure to be a favorite gathering space. Large, sunny Recreation Room boasts handsome fireplace and direct access to Backyard. Lower level also features Laundry Room, Powder Room and Storage Area. Well maintained home is immaculate & ready to move into!!
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