A few measly hours

Yesterday I missed out on a great real estate deal by a few hours. The sad thing is that this is the second time this has happened. I guess this comes with the territory, but it's still a little frustrating.

If you've been thinking about refinancing...

Now's the time. Rates are dropping like crazy, and here's why.

Mortgage rates plunged after the Federal Reserve announced that it would buy up to $500 billion of securitized home loans.

Read more.

Foreclosures in Shelby County

This is also from The Memphis Flyer:

Number of Foreclosures in Shelby County
2005: 3800
2006 5250
2007: 5850
2008: 7100 so far

Property Tax Hike?

If you're a homeowner in Shelby County, you should read this article from The Memphis Flyer. Here's an excerpt:

Property owners will get their new appraisals in early 2009. Appraisals determine how much taxes homeowners and businesses pay. The difference between a house in Memphis appraised at $100,000 and one appraised at $200,000 is $1,822 a year in taxes.

The total value of assessed property in Shelby County, currently $16 billion, is called the tax base. If it shrinks, governments have two choices: cut spending or raise taxes.

Johnson, who took office in August, isn't saying whether the tax base will grow or shrink.

"I'm not ready to call it," Johnson said last week, after saying in an earlier interview that the tax base would probably be stable. The first people to get the news in January, she says, will be mayors Willie Herenton and A C Wharton.