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
Friday, September 26, 2008
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.
Wednesday, December 5, 2007
Pomegranate-Glazed Turkey with Roasted Fennel - 4 Servings
Pair turkey cutlets with roasted fennel and a rich pomegranate pan sauce for a simple yet elegant dish. Garnish with jewel-like fresh pomegranate seeds if available—they are in season from September through January. Turkey scallopini (thinner and smaller than cutlets) will also work in this recipe, but will need to be cooked in batches. Make it a meal: Nutty-tasting bulgur is delicious with this.
· 4 medium fennel bulbs, cored and thickly sliced
· 5 teaspoons canola oil, divided
· 1/2 teaspoon chopped fresh thyme, plus 1 sprig
· 1 teaspoon kosher salt, divided
· 3/4 teaspoon freshly ground pepper, divided
· 4 turkey cutlets, 1/4 inch thick (1 pound)
· 1 cup pomegranate juice
· 1/4 cup reduced-sodium chicken broth, or water
· 1 teaspoon cornstarch
· Preheat oven to 450°F.
· Toss fennel, 3 teaspoons oil, chopped thyme and 1/4 teaspoon each salt and pepper in a medium bowl. Spread on a rimmed baking sheet. Roast, stirring twice, until tender and golden, about 25 minutes.
· Meanwhile, sprinkle both sides of turkey with the remaining 3/4 teaspoon salt and 1/2 teaspoon pepper. Heat the remaining 2 teaspoons oil in a large skillet over medium-high heat. Add the turkey and cook until browned, 1 to 3 minutes per side. Transfer to a plate.
· Add pomegranate juice and thyme sprig to the pan; bring to a boil. Boil, stirring often, until reduced to 1/4 cup, 6 to 10 minutes. Discard the thyme. Whisk together broth (or water) and cornstarch; add to the pan and cook, stirring constantly, until thickened, about 15 seconds. Reduce heat to medium, return the turkey and any accumulated juices to the pan, turning to coat with sauce, and cook for 1 minute. To serve, top roasted fennel with turkey and sauce.
· 4 medium fennel bulbs, cored and thickly sliced
· 5 teaspoons canola oil, divided
· 1/2 teaspoon chopped fresh thyme, plus 1 sprig
· 1 teaspoon kosher salt, divided
· 3/4 teaspoon freshly ground pepper, divided
· 4 turkey cutlets, 1/4 inch thick (1 pound)
· 1 cup pomegranate juice
· 1/4 cup reduced-sodium chicken broth, or water
· 1 teaspoon cornstarch
· Preheat oven to 450°F.
· Toss fennel, 3 teaspoons oil, chopped thyme and 1/4 teaspoon each salt and pepper in a medium bowl. Spread on a rimmed baking sheet. Roast, stirring twice, until tender and golden, about 25 minutes.
· Meanwhile, sprinkle both sides of turkey with the remaining 3/4 teaspoon salt and 1/2 teaspoon pepper. Heat the remaining 2 teaspoons oil in a large skillet over medium-high heat. Add the turkey and cook until browned, 1 to 3 minutes per side. Transfer to a plate.
· Add pomegranate juice and thyme sprig to the pan; bring to a boil. Boil, stirring often, until reduced to 1/4 cup, 6 to 10 minutes. Discard the thyme. Whisk together broth (or water) and cornstarch; add to the pan and cook, stirring constantly, until thickened, about 15 seconds. Reduce heat to medium, return the turkey and any accumulated juices to the pan, turning to coat with sauce, and cook for 1 minute. To serve, top roasted fennel with turkey and sauce.
Tuesday, December 4, 2007
1st Annual Fall Community Festival
October 27, 2007 was our 1st but definitely not our last Festival event.
painting, free pumpkins, McGruff the Crime Dog, Finger Printing Kits, great food tasting, information exchanged for anyone having real estate needs or having mortgage or title company questions. Many raffle items were given and a free IPOD was donated by Al. Proceeds from the event were given to the local Fire Department. We are planning a Spring Event so keep your eyes open for the advertising of date and times.
painting, free pumpkins, McGruff the Crime Dog, Finger Printing Kits, great food tasting, information exchanged for anyone having real estate needs or having mortgage or title company questions. Many raffle items were given and a free IPOD was donated by Al. Proceeds from the event were given to the local Fire Department. We are planning a Spring Event so keep your eyes open for the advertising of date and times.
Friday, November 2, 2007
Sugarcane Baked Ham with Spiced Apples & Pears
12 sugarcane swizzle sticks, each cut into about 3 inch pieces 1 hickory smoked ham, spiral sliced, 8 to 10 pounds (no bone, water added, cooked) 1 cup firmly packed light brown sugar 1 cup pure cane syrup (recommended: Steen's) 1/2 cup dark molasses 1/2 cup dark corn syrup 1/8 teaspoon freshly grated nutmeg 1/4 teaspoon ground cloves 1/8 teaspoon ground allspice 1/2 teaspoon ground cinnamon 1 teaspoon dry mustard 1/4 cup water 1 1/2 pounds (about 4) Granny Smith apples 1 1/2 pounds (about 4) Bartlett pears 2 dozen medium buttermilk biscuits
Preheat the oven to 350 degrees F.
Line a shallow baking pan with parchment or waxed paper. Insert the sugarcane sticks into the ham at 3 to 4-inch intervals. Tie the ham, using kitchen twine, horizontally and vertically to keep it together, like wrapping a gift. Place on a wire rack in the baking pan.
In a mixing bowl, combine all of the ingredients together except for the mustard and water. Mix well. In a small bowl, dissolve the mustard in the water, then add to the spice mixture. Blend well. Brush the entire ham with the glaze, coating it evenly.
Wash, core, and halve the fruit. Place all around the ham. Baste the ham a second time and baste the fruit with the glaze. Bake for 45 minutes. Baste the ham and fruit again. Bake another 45 minutes.
Remove the ham from the oven and let it rest for 5 minutes. Remove and discard the string and swizzle sticks.
Serve the apples and pears on a platter with the ham. Serve everything warm or at room temperature. Serve the biscuits on the side.
Recipe SummaryDifficulty: Easy Prep Time: 20 minutes Inactive Prep Time: 5 minutes Cook Time: 1 hour 30 minutes Yield: 10 to 12 servings
Preheat the oven to 350 degrees F.
Line a shallow baking pan with parchment or waxed paper. Insert the sugarcane sticks into the ham at 3 to 4-inch intervals. Tie the ham, using kitchen twine, horizontally and vertically to keep it together, like wrapping a gift. Place on a wire rack in the baking pan.
In a mixing bowl, combine all of the ingredients together except for the mustard and water. Mix well. In a small bowl, dissolve the mustard in the water, then add to the spice mixture. Blend well. Brush the entire ham with the glaze, coating it evenly.
Wash, core, and halve the fruit. Place all around the ham. Baste the ham a second time and baste the fruit with the glaze. Bake for 45 minutes. Baste the ham and fruit again. Bake another 45 minutes.
Remove the ham from the oven and let it rest for 5 minutes. Remove and discard the string and swizzle sticks.
Serve the apples and pears on a platter with the ham. Serve everything warm or at room temperature. Serve the biscuits on the side.
Recipe SummaryDifficulty: Easy Prep Time: 20 minutes Inactive Prep Time: 5 minutes Cook Time: 1 hour 30 minutes Yield: 10 to 12 servings
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