The Federal Reserve, taking a break from its aggressive rate-cutting policy, chose not to alter key interest rates Wednesday, leaving the Fed Funds rate at 2.00% and everyone wondering where interest rates are headed next.

Since last September, the Fed has cut rates seven times for a total of 3.25%. However, many experts believe that the Fed's decision this Wednesday, along with comments from the meeting itself, indicate an increased concern over inflation. This means the Fed could start increasing rates as early as its next meeting, which takes place in August.

The Fed is in a quandary. The economy has slowed, led by a decline in home sales and rising inflation, stemming primarily from increasing energy prices. The Fed's primary role in relation to the economy is to combat inflation and preserve economic growth. To combat inflation, the Fed will ultimately have to increase interest rates in coming months.

What Does This Mean to You?

If you're looking to buy a house, consider these key points:

Home prices in some areas are at five-year lows, while personal incomes in that same period have increased. Homes are more affordable for many right now, particularly first-time home buyers.
Sellers are extremely motivated and many buyers in our area have benefited from the unbelievable deals that exist today.

Experts foresee a strong rebound in home prices when the economy begins to recover, according to a new report from the Joint Center for Housing Studies. That means buyers today will be sitting on valuable properties tomorrow. Remember, annualized appreciation for homes exceeded 6.35% from 1940 to 2000.

Housing booms follow housing busts – and the savvy buyers aren't afraid to jump into a tough market. But these savvy buyers know that homeownership is a long-term investment.

Even if you're not looking to purchase a home, opportunities still exist. With the Fed taking a breather, this doesn't mean you should be taking a break.

Call me, Reechia at 972-979-9978 and let’s talk about why now is the right time for you to buy a home!

June 21, 2008 at Douglass Community Center - 1111 H Avenue

Are you wondering what is Juneteenth? Well, it’s a celebration to mark the date in Texas and U. S. History, June 19, 1865 when notice finally arrived in Galveston that slavery had ended. The official statement stated: The people of Texas are informed that in accordance with a Proclamation from the Executive of the United States, all slaves are free. This involves an absolute equality of rights and rights of property between former masters and slaves, and the connection heretofore existing between them becomes employer and free laborer.” The order arrived two and a half years after President Abraham Lincoln had put into action The Emancipation Proclamation. (Information provided by www.Juneteenth.com)

The City of Plano Douglass Community Center will host the 2008 Juneteenth Celebration. Join in the observance and enjoy a day of community service, family fun and games, live music, celebraty sporting event, a carnival atmosphere and food vendors. For more information contact the Center at 972-941-7174.

A fun fashion show, Dominique Revue: Stage to Runway Fashion Show, will be held June 20th at the Plano Centre, 2000 East Spring Creek Parkway, Plano. The doors open at 7:00 pm, with the show beginning at 8:00 pm.

Picture it...1930s...Garbo Talks!...The Thin Man Walks...Cagney is public enemy...with dames and gold diggers of 1933. Welcome to a city alive...the New "Dallas" York, Texas revived! It's monumental fashion event...jive talk 'til your money's spent...don't jump to conclusions. The password that you need to know is Dominique Revue: From Stage to Runway Fashion Show!

More information: www.dominiquerevue.blogspot.com or call 214-675-9929.

It will be great fun and we hope to see you there!

Picnic in the Park Concert
Russel Creek Park
3500 McDermott Road

Join us on Thursday, June 12th to enjoy the great outdoors and great music! On June 12th the featured musicians are The Killdares. Music starts at 7pm.

Do you think the days of “Zero Down” are a thing of the past? Well, it’s not! Our lender partner is offering zero down and low closing costs with qualifying FICO scores! No tricks, just good lending practices! Guaranteed to close on time!

Contact us today and we will give you all the details!

If you are in the market to buy a home, we are here to help you in every aspect of the process! Call us at 972-979-9978 and put our experience to work for you!

June 7th, 7:30 pm – 10:30 pm
Amphitheater at Oak Point Park
2801 East Spring Creek Parkway, Plano

As part of Plano Stages Concert in the Park series, tonight’s featured performers include Voodoo Blue (a Stevie Ray Vaughn tribute band) and Carolyn Wonderland. Join us for a great night of music under the stars!