The Beauty Affair

I found a terrific beauty salon today and thought I'd tell you about it. In Pauma Valley beside the Post Office and across from Pauma Valley Country Club, my friend, Brenda Kline owns and operates The Beauty Affair, a full service salon for men and women.

Not only are Brenda's prices reasonable, but her talent is tremendous and she is meticulous and detailed about her work. Time was definitely not the concern for her, but my satisfaction with the result absolutely was and I was thrilled with my color, the highlights that she suggested and a brand new cut. Not only was I very happy with my hair, but the time I spent in her shop was relaxed and pleasant in way that you won't find in the big city. I chatted with other customers and Brenda's very polite and well-spoken 11 year old son, Cole, who told me all about his golfing aspirations. Apparently he's quite the player.

Brenda has been a stylist for 23 years, so her success is no accident. If you're looking for a stylist who takes her time and puts service and your satisfaction first, please visit Brenda Kline at The Beauty Affair. The address is 16160 Highway 76, Suite 303 in Pauma Valley or you can call her at 760.742.3233.

I love home improvement

This just in from Lowe's. I love home improvement newsletters, because they provide step-by-step instructions that even I can follow and I am so very motivated after reading them. See you in the garden this Saturday!

1. Rake, rattle and roll! Convince yourself that raking leaves can be fun. Rather than wait for a single weekend, break this chore into stages. Matted leaves can lead to insect and disease problems and smother your turf, especially cool season grasses like
Kentucky Bluegrass.

2. To fertilize – or not to fertilize? Cool season grasses like Kentucky
Bluegrass, fescues and perennial ryegrass often need fertilizer this time of year. Grasses that go dormant in the winter, such as Bermuda, Zoysia and Centipede
may not.

3. Repair and re-seed. Fall is a great time to repair a damaged lawn and re-seed. Fill any holes or bare spots with topsoil and add grass seed. It’s important to choose the right kind of grass for your growing zone.

4. Remember to water. New grass in particular needs frequent but shallow watering. Once the grass is established, water deeply to reach the roots. To minimize the threat of fungal disease,
water in the morning or early afternoon so that the grass blades are not moist
overnight.

5. Prune with care. Pruning promotes growth, so be careful not to encourage growth when plants are about to go dormant. By all means remove diseased, dead or broken branches.

6. Transplant trees and shrubs. Autumn is a great season for transplanting trees and shrubs, allowing roots to get established before the cold sets in. Also, heat stress is not a concern.

7. Spruce up flower beds. Replace warm-weather annuals with
seasonal favorites like pansies and mums. Clean out summer perennials and add a fresh layer of mulch, which can help protect plants from hard freezes.

8. Divide established perennials. If your perennials are looking a bit lackluster or overgrown they may need to be divided. The best candidates have large, healthy clumps and have been in
the ground for years. By dividing these in the fall, you’ll enjoy healthier plants in more
places next spring.

9. Plant ahead for spring. Foolproof and fabulous, spring-flowering bulbs put gardening within everyone’s reach. When choosing bulbs, focus on your favorite color, or try shades that accent
already established plantings throughout your garden.

Delinquencies, notices of default and foreclosures. It's not what you think

The Mortgage Bankers Association and the Federal Reserve gave us some information lately that belies the impending doom projected in the media. Here is some information contained in the reports:

1. The delinquency rate on sub-prime loans was running at 13.77%, which is up 13.44% from the previous year. In the last quarter, the delinquency rate dropped to 12.4%!

2. The delinquency rate on Alt-A loans is only 2.69%, while prime loans are at 2.57%

3. Combining the three rates with the loan volume gives you a delinquency rate for all loans in the US of only 4.84%! All of the US!

4. On jumbo mortgages, (anything over $417,000,) the delinquency rate is 0/37%

5. California delinquency rate is only 3.25%!

6. Only 3.23% of all sub-prime loans have entered the foreclosure process with most of the defaults occurring on loans from January, 2005 to June, 2006

7. Only 1.28% of all prime loans have entered the foreclosure process

8. For prime loans, the foreclosure rate is 0.86%. Last year, the US saw a combined foreclosure rate of only 1.09% while California's rate was 1.17%.

9. California now ranks #4 in the nation in foreclosures, which is down from #1!

The media will still report about massive delinquencies and huge foreclosures in the sub-prime market, but those reports will not be accurate because they don't explain the difference between a delinquent payment, a notice of default or a foreclosure. The tell us "foreclosures are at a record high!" but that's not accurate.

The media will try to scare you with number like $1 trillion in loans needs to be recast this year and that foreclosures could cost lenders as much as 2.3 billion dollars! They never mention that there is 10.4 trillion of mortgages with $56 trillion dollars of equity in American households. Add to that the wealth of the US at $70 trillion, with the value of stocks between $15 and $20 trillion, while the bond market is even larger. So these losses (should they occur) should not have any great effect on home prices.

Another note about foreclosures: The #1 reason they occurred was due to fraud. The #2 reason was unethical lending, followed by #3 - loss of job, and finally #4 was medical reasons. By the way, the mortgage insurers are in a good position to cover losses at these (high) levels.

Don't be fooled.