Adopt this sweet dog today at Lee Park during the Charlottesville Fegetarian Festival -’til 4pm.

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Charlottesville Vegetarian Festival is taking shape downtown at Lee Park. Food concessions begin at 11am and end at 4pm. Come out and get some great food and the area’s best Kettle Corn. Brought to you by your Charlottesville real estate resource.

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Larry Saunders
“Making Home Loans Easy”

I read an article in The Washington Post this week and I thought you might like to hear about it.  This article gave five reasons for economic optimism which I found very encouraging considering the amount of economic negatively that has been
floating around.  The writer doesn’t expect a roaring recovery but he did note that are a number of reasons why a slow-and-steady recovery is likely to continue.  Here are the points he made.

1. The savings rate has risen from 2.7% in January of 2008 to 5.95 in July of this year. This indicates people are adjusting their spending patterns to match their
incomes and this should make them freer to spend in months ahead.

2. Banks have eased lending standards for corporate loans.  Coupled with today’s low interest rates, this will support growth and more employment.  As a side note, home loan standards have not eased overall but private mortgage insurance companies have just recently announced they will now provide 95% financing… up from a the previous maximum of 90%.

3. Stats indicate the industrial sector is holding up.  July production was up 1% and indicators show the expansion continued in August.

4. Home building is not expected to boom levels for some time, but builders started new homes in July at an annual rate of 546,000.  This is half what is needed to keep up with population growth.  Built-in demand is growing every month.

5. The steep rise in imports slowed the U.S. economy in the second quarter.  If the trade deficit has not widened, the gross domestic product would have grown much faster.   With many other world economies doing better than the U.S. economy right now, exports are set to rise more than imports in the coming
quarters which will help domestic growth.

Good news and good weather for the Labor Day weekend!  Enjoy!

Larry Saunders
Mortgage Loan Originator
Mahone Mortgage, LLC
Office:  (434) 293-5200
larrys @mindspring.com

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