It is hard to believe how much has changed in the last 30 days since I sent out my last eNewsletter! The financial markets have been rocked by large institutions failing, mergers, a $750,000,000,000 (Billion!) ‘Rescue Plan’, and a huge loss in the stock market. Concern over the national and global economies is very widespread.

On a local level, I am sure most of you have heard that Dyson & Dyson Real Estate went out of business last week, without any notice. The reasons for the closing are still somewhat unclear, but my guess is that it was a combination of fiscal mismanagement by the Broker, the slowdown in the economy and, to some extent, health/emotional issues. Unfortunately, the closing came as a complete surprise to everyone.

I spent 10 great years with Dyson & Dyson and enjoyed an incredible amount of success during that period. For that, I will always be grateful. I also understand that, even though Dyson & Dyson played a role in my success, I played a larger role in the success of Dyson & Dyson. There will always be many good memories.

So, during this past week, I have felt like a Free Agent in the professional sports world. It seemed like every real estate company in the desert contacted me about joining them. On very short notice I had to make a big decision: Which company would best fit my business outlook and ideals, as well as best fit the needs of my clients?

After much consideration, I have decided to join with Windermere Real Estate in Indian Wells. This company is owned by 2 partners, with about 10 offices in the Coachella Valley. The owners are hands-on and here on a daily basis. Windermere has great exposure in the Pacific Northwest, which is where a large segment of the high-end desert home buyers come from. I feel very comfortable that I will be able to continue to offer a very high level of marketing and exposure with this association.

With all that has gone on this week, I am short on articles for this newsletter, but I have included the following:

•	How to determine your bank’s financial health: Even with the FDIC’s recent increase of account insurance for the next 14 months, this is very timely information.
•	The California Association of Realtors expects to see the prices on homes in California to decline in 2009, and the number of sales to increase. Because real estate prices and sales at a local level are generally different than the average, this is only an overview of the state as a whole.
•	Even the wealthy are nervous about the housing market these days. This is an interesting article about the rich and famous who are also shaken by recent events and uncertain about purchasing high-end property.
•	The 10 Most Expensive Desert Homes sold in September 2008, according to the Desert Area MLS. The summer months are always slow in the desert, so I needed to go below $1 million to get the Top 10 for September. The Top 10 sales this month are spread out across the valley:  Hideaway, Toscana Country Club and my closing at Desert Horizons Country Club are at the top.
•	Mortgage Interest Rates as of 10/15/08.

My new office is still at the Northwest corner of Hwy 11 & Cook Street in Indian Wells, next to La Jolla Bank. My direct phone number remains the same: (760) 779-1653.

As always, if you have any real estate related needs or questions, please don't hesitate to give me a call, or send me an email at Bruce@BruceBlomgren.com. I would love to hear from you. If you know of anyone else who might like to receive my monthly e-newsletter, please let me know.

Sincerely,
Bruce