Issue link: https://www.epageflip.net/i/140737
Friday, June 28, 2013 – Daily News 5A Stocks gain on encouraging news about the economy NEW YORK (AP) — Good news on jobs and consumer spending pushed stocks higher again Thursday. The Dow Jones industrial average and the Standard & Poor's 500 index rose for a third straight day. Yields on Treasury securities fell for a second day, easing worries that a sudden spike in interest rates could hurt the economy. Consumer spending rose 0.3 percent last month and incomes increased 0.5 percent, the most in three months, the government reported. The number of Americans seeking unemployment benefits fell 9,000 to 346,000 last week. The report added to evidence that the job market is improving modestly. Stocks have rallied this week as investors took advantage of lower prices after a selloff last week that erased 560 points from the Dow over Wednesday and Thursday. The market swooned after Federal Reserve Chairman Ben Bernanke said that the central bank could cut back on its stimulus later this year and possibly end it next year, if the economy continued to improve. Even with the gains this week the index Wall Street is still 293 points below where it was June 18, the day before the Fed laid out its plans for how it might wind down its stimulus. The central bank is buying $85 billion in bonds every month to hold down long-term interest rates and encourage borrowing and spending. Fed stimulus has underpinned a stock market rally that started in March 2009 by encouraging investors to put money into risky assets. ''What's driving that market up is that people are realizing that they are in a 'winwin' situation,'' said Rick Robinson, a regional Chief Investment Officer at Wells Fargo Private Bank. ''If you have good economic data that should be good for stocks, if you have poor economic data ... that means the Fed will probably have its (stimulus) longer.'' The Dow closed up 114.35 points, or 0.8 percent, to 15,024.49. The S&P 500 index climbed 9.94 points, or 0.6 percent, to 1,613.20. Nine of the 10 industry groups in the Tehama Country Real Estate This Week OPEN HOUSE Sat., July 29th 11:30am to 1:30pm 3 bed 2 bath on 5.7 acres with large shop. $242,900 Rio Vista Estates #124 Casa Grande Dr. 2 acres with power along the road.........................................................................................................$25,000 2 homes on 3.27 acres, fenced and crossed fenced..........................................................................$145,000 2.5 acres on the Sacramento River with 3 commercial buildings, Owner will carry with large down ........................................ $749,000 160 acres with cabin ............................................................................................................................ $200,000 1586 sq. ft. home in the mountains........................................................................................................$69,500 900+ sq. ft. 2 bed 1 bath.....................................................................................................................PENDING 20 acres with well and septic, and power along road...........................................................................$100,000 10.75 acres with a shop, power, well and septic..................................................................................$140,000 20 acres, Corner lot in the Wells Fargo Subdivision ............................................................................ $110,000 3 bed 2 bath home on 5.74 acres with large shop, fenced..................................................................$250,000 Two river front lots zoned multi family.........................................................$100,000 ea or both for $175,000 15.31 acres with power and community water, several out buildings and year round creek ............... $100,000 3 bed 2 bath in Red Bluff....................................................................................................................PENDING 2122 sq. ft. 2 bed 2 bath home on two lots for.....................................................................................$215,000 2 acres with power along the road......................................................................................................PENDING 5.9 acres with power along the road......................................................................................................$50,000 Serving all of Tehama County, Northern Glenn County & Southern Shasta Are you single?? Robert Thayer, Owner / Realtor Very close to recreation hall and pool 1704 Solano St, Corning CA, 96021 New modern kitchen, bathroom and carpet Only $29,900 Call 527-7297 for more info NEW! 6 Acres, 3 Homes in Cottonwood, OWC $10,000 DOWN Bonds rose in value from 2007 until the middle of last year. The yield on the 10-year Treasury note fell to a record low of 1.39 percent last July. ''For the first time in five years, equities are the safest asset class,'' Cote said. Higher yields on Treasury bonds translate into higher borrowing costs on many kinds of loans including home mortgages. Average U.S. rates on fixed mortgages surged this week to their highest levels in two years. Mortgage buyer Freddie Mac said Thursday that the average rate on a 30year mortgage jumped to 4.46 percent. That's up from 3.93 percent last week and the highest since July 2011. The average rate on a 15-year fixed mortgage, a popular refinancing instrument, soared this week to 3.50 percent — its highest point since August 2011 — from 3.04 percent last week. Homebuilders got a lift from a report Thursday suggesting that the housing recovery remains intact. The number of people who signed contracts in May to buy a home jumped to the highest level in more than six years. S&P 500 rose, led by financial stocks. Banks and insurers listed in the S&P 500 have gained 4 percent in the last three days. Materials companies were the only group that fell. The Nasdaq composite rose 25.64 points, or 0.8 percent, to 3,401.86. In a sign that investors were once again more confident in holding riskier assets, the Russell 2000 index of small-company stocks rose 16.09 points, or 1.7 percent, to 979.92, more than twice as much as other major indexes. The yield on the 10-year Treasury note fell to 2.47 percent from 2.54 percent late Wednesday. The yield climbed as high 2.66 percent on Monday, the highest since August 2011. The rate has surged since May 3, when it touched its low for the year of 1.63 percent. Investors who have added bonds to their portfolios at the expense of stocks should consider selling some because yields are likely to rise further, said Doug Cote, chief market strategist at ING Investment Management. When yields rise, the value of bonds falls. RE/MAX Call me at (530) 515-3367 for any information on any listing, or listing your own home/business/property. American Dream Email rthayer@remax.net WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 Commercial Properties For Sale: • 124 S. Jackson, 3.65 acres plus improvements ..........$199,500 • 840 Main St. 11,200 sq/ft ................................SALE PENDING • 1870 Montgomery (Industrial) ..................................................2 Acres • 13545 Saint Marys Ave. (Or lease).................................40,000 sq/ft • 562 Antelope Blvd (Business or Residence)..........................2200 sq/ft Commercial Properties For Lease: • 124 S. Jackson .........................................................Office or Storage • 731-741 Main St. (Upstairs).............................................various size suites • 955 Main St. (Inside Bank of America building)..................2,995 sq/ft • 560 Diamond Avenue (Vacant Pad)..........................................8,000 sq/ft • 1040 Monroe Street (Commercial/Industrial)............................1,000 sq/ft License # 01486553 Open House 11am-4pm FOR SALE BY OWNER FRI, SAT. & SUN. June 28th, 29th & 30th Small 2/1 house plus 2 older mobilehomes on 6 acres.1/2 mile from Evergreen School, fenced. Excellent well, nice level land. Great tenants pay on time. $147,000 LAND FOR SALE - $98,000 Three parcels available (10 acre each) in Red Bluff. 360 degree views of all the mountains. LOW DOWN - OWNER WILL CARRY Call (530) 921-4849 WESTERN REAL ESTATE MINCH PROPERTY MANAGEMENT 760 Main St. • 530-527-5514 FOR LEASE 2995 sq.ft. office space 955 Main Street, Suite #B This beautifully appointed suite is situated to the right of the main entrance to Bank of America, divided into several rooms with new handicap restroom and windows fronting Main Street. Placer Title occupies the adjoining suite to the north. Ample on site parking plus start up incentives. Senior Park, Rio Vista Mobile Estates #83. Spectacluar River View. 2/2, 24'x60' Living & Family Rooms, Large Open Kitchen. A MUST SEE. Just reduced $23,900. 530-524-5124 Stromer Realty RED BLUFF - 4.9 ACRE PARCELS Rolling Hills With Oaks Power/Phone Available, Perk Done, Paved Roads Starting at $42,000 with $3K Down Owner Will Carry (530) 925-4075 590 Antelope Blvd Bldg. A, Suites 10 & 20, Red Bluff (530) 527-3100 ~ Specializing in residential to ranches ~ http://redbluff.stromerrealty.com This Week Featured Property 22851 Oak View $268,500 Great family home! Wide hallways, four nice sized bedrooms and baths. Cozy living room with wood burning stove and an extra room which could be a formal dining room or den/office. Kitchen features tile countertops and a dining area. The house contains good built-in storage throughout with decorator colors. The landscaping features a variety of trees. A large storage shed in the backyard will store lawnmowers and garden equipment. Located in a very nice neighborhood! Corning Adult & Family Park 2 Bedroom / 2 Bath 2 Bedroom / 1 Bath From $19,900 OWC Space Rent $325-$335 a month (530) 824-1500 ~ RANCHES ~ 10980 Shasta Blvd, Dairyville Country home 30+/- acres, irrigated, corner lot............$399,900 Wild Rose Ranch Very Desirable 94 +/- Acre Property ......................$1.2 million 22896 Tehama Ave. 16.48 Acres, Gerber, OWC with reasonable down........$199,900 Price 11601 A St., L.M. 76.270+/- Acres, Beautiful Small Ranch with Well Kept Home Reduction $515,000 30973 Manton Road This Ranch provides Multi-Use Potential..................$699,900 Carpenter Ranch 10,230 Acres, Exc. Winter Grazing Cattle Operation.. $12,766,000 ~ RESIDENTIAL ~ 8416 Sherwood Blvd. L.M. 2.47+/- Beautiful hm, great horse prop .........$350,000 22851 Oak View Drive 4 bdrm, Wood stove, Great family home!.............$268,500 ~ RECREATIONAL ~ 4 ACRES $210,000 Great Ranchette property with rooms for shop and animals, just outside of town for in a very nice quiet neighborhood. Open floor plan with vaulted ceilings and nice master with walk in closet. Yuba River Property Serious Fly Fisher, 74 +/- Acres .............................$500,000 11 acres with 3/2 manufactured home and shop. $139,000 ~ COMMERCIAL ~ 40 acres with Log Home, shop, barn and ponds .................... $499,900 3+ acre building lot in Antelope w/well/septic OWC..................$90,000 Riverfront mobile home on 2.61 acre, great soil.....................$179,000 Tranquil setting on the river, Home on 1+ac with dock...........$427,000 3+ acre building lot in Antelope OWC.......................................$69,000 590 Antelope Blvd. Two Newer Office Buildings, Highly Visible Thoroughfare ......$775,000 530-529-2700 314 Washington St, Red Bluff, CA 96080 www.TehamaCountyRealEstate.com ~ LOTS ~ 20110 San Juan Lovely Wooded Parcel with Paved Access..........................$77,500 0 Rivers Edge One of a Kind Acreage on the Sacramento River .................$175,000 21975 Bellota Lake California .....................................................................$8,500 Parey Ave, Lot 4 Dairyville, Riverview Lot on the Sacramento River ...........$180,000 26249 Mulholland Dr. Los Molinos Outstanding 10 Acre Lot...................$160,000 Own it all. Salon, coffee shop, and over 4000 ft in storage. Plenty of parking zoned light industrial. Bring your business and ideas. Jared Chaffin (Lic#: 01460126) 530-518-8275 North State Realty (NSRE) 2515 Park Marina Drive#102 Redding California 96003 (530) 518-8275 (office) jaredchaffin@hotmail.com