Interest rates spiked about 1/4 point yesterday as investors worry that the Fed’s pumping of trillions of dollars into the recovery will lead to inflation. The Obama administration has been trying to spur the real estate industry with low interest rates through the purchase of mortgage backed securities, but investors, sensing the market is turning upward, are beginning to NOT invest in those super safe investments, but believe they can get better returns elsewhere. Thus, the returns for the Treasuries must also increase to attract buyers. For more detail, read today’s Wall Street Journal article about these issues.

Ventura real estate activity is directly reflected in  homes pending that have gone into escrow. This data is taken directly from the Ventura MLS and provides a monthly and quarterly summary since January 2007.

Oxnard real estate activity is directly reflected in homes pending that have gone into escrow. This data is taken directly from the Oxnard MLS and provides a monthly and quarterly summary since January 2007.

Camarillo real estate activity is directly reflected in homes pending that have gone into escrow. This data is taken directly from the Camarillo MLS and provides a monthly and quarterly summary since January 2009.

Here are the April sold statistics for Ventura in our newly expanded 14 month format. The data for homes sold and condos sold comes from Ventura MLS listings.

Here are the April sold statistics for Oxnard in our newly expanded 14 month format. The data for homes sold and condos sold comes from Oxnard MLS listings.

Here are the April sold statistics for Camarillo in our newly expanded 14 month format. The  homes sold and condos sold data comes from Camarillo MLS listings.

Yesterday’s LA Times business section’s main article talked about the fact it’s not necessarily a buyer’s market out there, especially in entry level priced homes. Multiple offers, often over asking price. Bloomberg News reported this morning that “pending sales of U.S. existing homes posted their first back-to-back gain in almost a year in March and construction spending ended a six-month slide, spurring a rally in stocks”.  Plus, the stock market’s been on a rally for 7+ weeks or so. Historically, the stock market tends to lead any recovery. Locally, inventory is way down (especially Oxnard and Camarillo). What does this all mean?

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Laying out for the leading edge.

During April, after installing the wing tip bow and the curved inner trailing edge piece, I started on wrapping the leading edge of the wing.

This is the 4th wing (of a bi-plane) and yet I’m somewhat nervous because this is 1/16″ Finnish plywood – very thin and yet very workable for this application.

I’ve previously installed the rounded nose caps that I’ll be wrapping the plywood over, and ultimately, it all gets covered in fabric – just like a 1930s era airplane.

So how’d it turn out? Check it out and see!

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Wing tip bow finished

In my last report I mentioned how I had to re-do the wing tip bow. I wasn’t a happy camper. I’d epoxy’d that laminated, curved bow to those 2 extensions, but something had slipped and I used a heat gun to loosen the epoxy and then re-set the bow. It worked the second time, then I added the bracing and various small blocking pieces.

Then it was on to installing a curved, laminated piece at the trailing edge of the wing, next to the root.  It’s strictly for looks, and will give a more pleasing sense to the eye when done.

Read on for more details!

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