On Friday, October 24th Al was one of the judges for The Great Pumpkin Contest. Al also donated pumpkins and an iPod Nano for the Monster Mash on Saturday, October 25th. Saturday evening Al helped give out the prizes for The Great Pumpkin Contest.
Thursday, December 11, 2008
Friday, December 5, 2008
l Chef's Annual Pumpkin Giveaway - October 25, 2008
On October 25th, 2008 Al held his annual pumpkin giveaway at the Arundel Volunteer Fire Department on Rt. 424. See below, Al with from left Matthew, Jessica, Melanie, & Debbie Turner. Don't miss next years pumpkin giveaway. Date to be announced Fall 2009.
Friday, September 26, 2008
Unbeatable Value - $195,000
3 BR, 1.5 BA Rancher. Nice home located on large, level lot. Hardwood floors in living area and hallway. Fully finished basement.
Location: 8815 Sigrid RD Randallstown, MD 21133-4012
Location: 8815 Sigrid RD Randallstown, MD 21133-4012
Monday, September 1, 2008
Fannie Mae, Freddie Mac, and You
Fannie Mae, Freddie Mac, and You
Originally Published September 2008
By Al Friedman
Don’t you just love government acronyms? Some of them, like Fannie Mae and Freddie Mac even sound like your nice neighbors. Hey Jill, let’s invite the neighbors, Fannie Mae and Freddie Mac over for dessert tonight. Well we may, in fact, start getting to know them better than we ever thought we would. Fannie Mae was created as the Federal National Mortgage Association and Freddie Mac followed, as a way to provide competition to Fannie Mae. Their sole purpose was to provide mortgage loans. They don’t make them directly to you and I, but buy them from banks and mortgage companies that do.
They eventually morphed into strange hybrids known as government sponsored enterprises or (GSES), another acronym. Though government sponsored, they were held accountable to private shareholders. This odd pairing allowed them to operate with a minimal amount of capital, which worked well as real estate values went up.
The problems that arose with Fannie Mae and Freddie Mac basically came down to them not having enough capital to work with, as the markets tumbled. Current values are down by 18% around the country, since 2006. All of a sudden there was a panic in the Treasury Department at the possible outcomes, if they didn’t step in to help.
The first step was taken in July when Secretary of the Treasury Hank Paulson asked Congress for an allocation of funds to keep the companies from going under. He thought and hoped at the time that this would save the runaway train. Unfortunately, he realized very quickly that the problem was worse than he thought.
Mr. Paulsen’s next move was to bail the companies out, through the Treasury Department, to the tune of $100 billion each. In exchange for the money, the government would take ownership control of both agencies.
Both agencies will now report to the Federal Housing Finance Agency (FHFA), which will be their regulator. The two former CEO’s are out, albeit with nice severance packages. Shares of the companies continue to trade, but did plummet more than 80% the day after the take over announcement.
So, what does this all mean to you and me? First of all, in the short term, we’ve already seen an interest rate decrease of almost 1%. This is due to the market’s feeling better about Fannie and Freddie’s viability. Treasury also agreed to start buying back mortgage backed securities, starting with a $5 billion purchase in October. In theory, this move should help drive rates down even more, making home purchases more affordable. The line of thinking is that the housing market will be stimulated to gain some stability, thus stabilizing the two agencies.
As of now, we all have a stake in the guarantees up to $200 billion dollars to Fannie Mae and Freddie Mac. The housing market will determine the exact figure we may ultimately pay. In the mean time, I think Fannie and Freddie should invite us to come to their place for dessert.
For additional information on this and other housing matters, visit my website at AlChefSellsHomes.com.
By Al Friedman
Don’t you just love government acronyms? Some of them, like Fannie Mae and Freddie Mac even sound like your nice neighbors. Hey Jill, let’s invite the neighbors, Fannie Mae and Freddie Mac over for dessert tonight. Well we may, in fact, start getting to know them better than we ever thought we would. Fannie Mae was created as the Federal National Mortgage Association and Freddie Mac followed, as a way to provide competition to Fannie Mae. Their sole purpose was to provide mortgage loans. They don’t make them directly to you and I, but buy them from banks and mortgage companies that do.
They eventually morphed into strange hybrids known as government sponsored enterprises or (GSES), another acronym. Though government sponsored, they were held accountable to private shareholders. This odd pairing allowed them to operate with a minimal amount of capital, which worked well as real estate values went up.
The problems that arose with Fannie Mae and Freddie Mac basically came down to them not having enough capital to work with, as the markets tumbled. Current values are down by 18% around the country, since 2006. All of a sudden there was a panic in the Treasury Department at the possible outcomes, if they didn’t step in to help.
The first step was taken in July when Secretary of the Treasury Hank Paulson asked Congress for an allocation of funds to keep the companies from going under. He thought and hoped at the time that this would save the runaway train. Unfortunately, he realized very quickly that the problem was worse than he thought.
Mr. Paulsen’s next move was to bail the companies out, through the Treasury Department, to the tune of $100 billion each. In exchange for the money, the government would take ownership control of both agencies.
Both agencies will now report to the Federal Housing Finance Agency (FHFA), which will be their regulator. The two former CEO’s are out, albeit with nice severance packages. Shares of the companies continue to trade, but did plummet more than 80% the day after the take over announcement.
So, what does this all mean to you and me? First of all, in the short term, we’ve already seen an interest rate decrease of almost 1%. This is due to the market’s feeling better about Fannie and Freddie’s viability. Treasury also agreed to start buying back mortgage backed securities, starting with a $5 billion purchase in October. In theory, this move should help drive rates down even more, making home purchases more affordable. The line of thinking is that the housing market will be stimulated to gain some stability, thus stabilizing the two agencies.
As of now, we all have a stake in the guarantees up to $200 billion dollars to Fannie Mae and Freddie Mac. The housing market will determine the exact figure we may ultimately pay. In the mean time, I think Fannie and Freddie should invite us to come to their place for dessert.
For additional information on this and other housing matters, visit my website at AlChefSellsHomes.com.
Tuesday, March 11, 2008
Corned Beef and Cabbage
One 3-pound corned beef brisket (uncooked), in brine 16 cups cold water 2 bay leaves 2 teaspoons black peppercorns 4 whole allspice berries 2 whole cloves 1/2 large head green cabbage (about 2 pounds), cut into 8 thick wedges 8 small new potatoes (about 1 1/4 pounds), halved Freshly ground black pepper
Serving suggestion: Whole-grain mustard or HORSERADISH SAUCE, recipe follows
Preheat the oven to 300 degrees F.
Place the corned beef in a colander in the sink and rinse well under cold running water.
Place the corned beef in a large Dutch oven with a tight-fitting lid; add the water, bay leaves, peppercorns, allspice, and cloves. Bring to a boil, uncovered, and skim off any scum that rises to the surface. Cover and transfer pan to the oven, and braise until very tender, about 3 hours and 45 minutes.
Transfer the corned beef to a cutting board and cover tightly with foil to keep warm. Add the cabbage and potatoes to the cooking liquid and bring to a boil. Lower the heat and simmer until the vegetables are tender, about 20 minutes.
Using a slotted spoon, transfer the cabbage to a large platter. Slice the corned beef across the grain of the meat into thin slices. Lay the slices over the cabbage and surround it with the potatoes. Ladle some of the hot cooking liquid over the corned beef and season with pepper. Serve immediately with the mustard or horseradish sauce.
HORSERADISH SAUCE
3/4 cup mayonnaise 3/4 cup sour cream 1/4 cup plus 2 tablespoons jarred grated horseradish (with liquid) 1/2 teaspoon grated lemon zest 2 teaspoons kosher salt Freshly ground black pepper
In a small bowl, mix together the mayonnaise, sour cream, horseradish, zest, and 2 teaspoons salt. Season generously with pepper to taste. Refrigerate the horseradish sauce for at least 30 minutes before serving.
Yield: about 1 3/4 cups
Serving suggestion: Whole-grain mustard or HORSERADISH SAUCE, recipe follows
Preheat the oven to 300 degrees F.
Place the corned beef in a colander in the sink and rinse well under cold running water.
Place the corned beef in a large Dutch oven with a tight-fitting lid; add the water, bay leaves, peppercorns, allspice, and cloves. Bring to a boil, uncovered, and skim off any scum that rises to the surface. Cover and transfer pan to the oven, and braise until very tender, about 3 hours and 45 minutes.
Transfer the corned beef to a cutting board and cover tightly with foil to keep warm. Add the cabbage and potatoes to the cooking liquid and bring to a boil. Lower the heat and simmer until the vegetables are tender, about 20 minutes.
Using a slotted spoon, transfer the cabbage to a large platter. Slice the corned beef across the grain of the meat into thin slices. Lay the slices over the cabbage and surround it with the potatoes. Ladle some of the hot cooking liquid over the corned beef and season with pepper. Serve immediately with the mustard or horseradish sauce.
HORSERADISH SAUCE
3/4 cup mayonnaise 3/4 cup sour cream 1/4 cup plus 2 tablespoons jarred grated horseradish (with liquid) 1/2 teaspoon grated lemon zest 2 teaspoons kosher salt Freshly ground black pepper
In a small bowl, mix together the mayonnaise, sour cream, horseradish, zest, and 2 teaspoons salt. Season generously with pepper to taste. Refrigerate the horseradish sauce for at least 30 minutes before serving.
Yield: about 1 3/4 cups
Friday, January 18, 2008
BBQ Pork Sandwich
Dry rub: 2 tablespoons salt 2 tablespoons black pepper 2 tablespoons dark brown sugar 2 tablespoons paprika 1/2 tablespoon cayenne 4 pound shoulder pork roast
2 cup apple juice 1 cup apple cider vinegar 2 tablespoons Worcestershire 1/2 tablespoon liquid smoke 1/2 tablespoon garlic powder
6 soft hamburger buns with seeds Bbq sauce Cole slaw
Preheat oven to 325 degrees F.
Mix the dry rub ingredients in small bowl. Sprinkle dry rub all over the pork roast, pressing into the pork. Cover with plastic and refrigerate for at least 2 hours. Combine liquid ingredients and the garlic powder in a medium bowl and pour into a large Dutch oven. Place pork in the oven and tightly cover with aluminum foil then lid. Roast for 4 hours or until fork tender and shreds easily. Brush the roast with cooking liquid every hour. Remove from oven and let stand until cool enough to handle. Shred the pork with a fork or tongs into bite size pieces. Serve on hamburger buns topped with BBQ sauce and cole slaw.
2 cup apple juice 1 cup apple cider vinegar 2 tablespoons Worcestershire 1/2 tablespoon liquid smoke 1/2 tablespoon garlic powder
6 soft hamburger buns with seeds Bbq sauce Cole slaw
Preheat oven to 325 degrees F.
Mix the dry rub ingredients in small bowl. Sprinkle dry rub all over the pork roast, pressing into the pork. Cover with plastic and refrigerate for at least 2 hours. Combine liquid ingredients and the garlic powder in a medium bowl and pour into a large Dutch oven. Place pork in the oven and tightly cover with aluminum foil then lid. Roast for 4 hours or until fork tender and shreds easily. Brush the roast with cooking liquid every hour. Remove from oven and let stand until cool enough to handle. Shred the pork with a fork or tongs into bite size pieces. Serve on hamburger buns topped with BBQ sauce and cole slaw.
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