Meeting Notes March 1, 2016

 

Pledge by Frank Davila,

 

Walt Joyce thought for the day- political quotes from history-

 

No songmaster-no song, visiting Rotarian John Adams from San Juan Bautista club, & Dennis Potter from Los Altos,

 

Monique Kane reported almost 100% participation in Rotary foundation for this year- if you haven't given, please do so ASAP. 

 

Ski trip on for 3/17-- if you want to participate, contact Bruce Barsi,

 

Sign up went around for tour of the Mayview clinic- contact Twana if interested,

 

Scott Johnson announced Stevens Creek trail cleanup for Sat April 16, see Scott to sign up—

 

Sanjay started a food delivery signup sheet for March, Hope corner breakfast for homeless, see Sanjay to sign up, 6am one Saturday morning, need van- 

 

March 29 will be final Tues PM social at Tom Myer's & Harts condo clubhouse, signup to follow,

 

Board meet 3/17 5pm at Chac, District assembly 3/24, see Twana,

 

 District conference April 29/30-May 1, Sat dinner is $75-

 

New member Helen Meeks inducted, she is a long time friend of Tori Atwell, both realtors at Alain Pinel.

 

 

 

  Speaker for the day Cammie Brodie of PNC bank.  She is a mortgage lender, and described the new landscape of lending since the 2008 financial meltdown and mortgage crisis.  In short, normal

 

loans at very low rates can be made to super qualified buyers only, and consist of max amounts of $620,000.  Jumbo loans to a high limit can be made at higher rates for local multimillion $ home sales.  All borrowers have to meet strict standards, which leaves many potential buyers out.  Banks are making record profits-- system is working, however, restraints may be a bit too strenuous. Many local home sales are to foreign buyers for all cash or nearly so.  Market is being skewed upwards by this activity.  Future outlook is unknown, probably continued tight home mortgage credit. Rates to remain fairly low.

 

Thx Walt Joyce