Fergus Falls Noon Rotarians gathered at the Salvation Army ministry building on a beautiful spring day; the temperature was in the 50’s with a clear sky, little wind and most of the snow has disappeared in the last couple of days. A real contrast from last Wednesday when we were in the second day of a blizzard with 45 mph winds, temps in the 20’s, schools, businesses and highways closed and we met via Zoom. The kitchen at the Army is hosting major renovation and we were invited to bring our own lunch. Most of us dined on Easter leftovers or offerings from the Service Food Deli topped off with olives from Spain courtesy of Kathy A. President Ken was nowhere to be seen so VP Zach S gaveled us to order. We said the Pledge of Allegiance, Tim H offered an invocation and we recited the Four WayTest. Guest Rotarian Deb Maertens was introduced for the second week. Student guests Keziah Hartwell and Ava Hastings, both seniors at Fergus Falls High School and nvolved in a long list of activities were introduced by Dave J. These fine young ladies both plan to attend college next fall and seem to possess the substance needed to pursue the career fields they have chosen. There was no Rotary Minute and Zach S reminded us there are opportunities to fill and deliver backpacks on the 25 and 28th. Mary P. led off the brags and fines with an invitation to an open house on Thur the 20th between 4:00 and 6:00 pm. It will be hosted by her new firm, Trilogy Real Estate at 225 W Cavour. Dave J let us know his back surgery was a success but the recovery is slow. The pain decreases everyday and now is someplace near but below 10. Katie J reminded everyone of the Lake Region Hospital Gala approaching and that the proceeds would be used to purchase equipment for pediatric therapy. She also made a plea for Vikings tickets that could be auctioned at the event. Kathy A expressed thanks for a previous opportunity to report on her trip to Spain. Buzz L provided a dollar because the snow was 95% gone and John M another because the cormorants were back. Brian T mentioned the invoice we recently received and that it reflected meals consumed at $10.00 each. The program was provided via electronic transmission by Bryan Atwood of Atwood Mortgage of Montevideo. He was introduced by Brian T who has a professional association through real estate work and spoke highly of his competencies. Bryan began by covering his family’s work in and association with the real estate business. Apparently those familiar with the Atwood’s claim they receive their real estate license with their birth certificates. The presentation began with a discussion of interest rates, their complexity and why nobody really knows or can predict with much accuracy where they will be in the future. To prove his point, he gave a brief review of many of the factors affecting them. He began with monetary policy and how the Federal Reserve actions tumble through the banking system-which they also regulate-and show up in the rates homeowners must pay. Fiscal policy which is the governments use of revenues (taxes) and expenditures (programs, grants etc) to influence the money supply also have a sizable effect on rates. Ed note: Today's inflation is primarily caused by the government injecting trillions of dollars into the economy through COVID relief, infrastructure, student loan forgiveness, etc., programs and the Federal Reserve's actions to stabilize prices. Even though there is uncertainy about rates, Bryan feels it is not a bad time to be involved in real estate and that it is one of the best investments. Rates, he felt, are not a huge hindrance since refinancing can always be done when rates decrease. He cautioned folks to always work with professionals and pay attention to affordability. Bryan concluded by discussing briefly many of the government programs encouraging homeownership but cautioned that they are not all equal. One must shop around and understand what they are doing. He seemed confident that a deal usually can be put together. Half his business is what he terms “rescue deals”. |
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