Senator Robert Carlyle Byrd, the 92 year old Democrat Senator from West Virginia, died Monday, 3:00 A.M. at Inova Hospital in Fairfax, VA. Sometimes referred to as "this generations conscience of the Senate," he was known for his devotion to our system of constitutional checks and balances. Sen. Byrd also held two records of being the longest serving member in Congress and for the Senator to cast the most congressional votes than any other Senator.  Now, the death of Senator Byrd puts financial reform bill at risk

Being a proponent of the financial reform, his death may delay it from passing and possibly even kill financial reform. Joe Manchin, the Governor of West Virginia, Senator Byrds possible replacement, is a pro business Conservative Democrat and may not back the financial reform bill as it currently stands with the tax increases. If Governor Manchin is instated as Sen. Byrds replacement and does not approve of the bill, the Democrats would not have the sixty votes needed to pass the legislation.

Watch the full video with Rick Santorum, former Republican Senator from Pennsylvania, as he discusses the potential fall out of the financial reform bill and the issues surrounding it.

photo credit: assortedstuff

The big local news is a new grocery store. SmartCo. opened a new location in Aurora on South Parker Road. This isnt your normal run of the mill grocery story, mind you. They claim to be more like Costco and Sams Club with low prices, but you dont have to become a member. They claim they are more economical than their competitors. So far, it looks like their prices are lower, but are they simply sale prices? Time will tell.

Also, the Sunflower Market opened a new store as well. Their new location is in Greenwood Village at Arapahoe Market Place. The Sunflower Market is a market where more natural and organic products are sold. Colorado is a place where its residents are becoming more and more health conscious, so stores such as the Sunflower Market are a welcome addition to any neighborhood.

The new SmartCo store offered 500 new jobs to the area. The turnout for applicants was something nobody was expecting. There were lines around the corner to fill out applications. Some drove over 200 miles to apply to the new store. Others were happy to have a chance at a new job. Residents were happy to see signs of economic recovery come to their neighborhood.

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photo credit: The-Lane-Team

There were increases in the RECI's 1-10 scale this month. It rose 0.70 percent to 5.76 in June up from last month. It experienced a three percent increase due to the long term optimism for the indexs 12-18 month outlook.

There was a relative small increase for the short term (3-6 months) scale of 0.53 percent to 5.64. While looking for a natural, self sustaining recovery in the market, the lack of direction and positive outlook from agents and brokers over the past twelve months is an indication that the government incentive programs have helped, but are far from stabilizing the market.

A survey from 2574 real estate agents from across the country showed that the long term outlook of agents exceed the outlook for the short term. However, feedback looked confusing and mixed with some agents referring to healthy sales activity and others citing low interest rates as the primary driver in the market.

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It may be hard to believe in todays market, but the growing consensus is that there is a possible housing crisis on the horizon. This is overshadowed, of course, by our current financial predicament. At the moment, very few people are thinking of purchasing a home, so its hard to consider there may actually be a shortage. However, looking into the future just a bit, people and our Nation will recover, and people will be purchasing again.

Deciding early where you want to live can make a difference of where your place in line will be. Talking to a broker or real estate agent early may give you a jump on the market to come. Develop a relationship with your real estate agent and get a feel of where you want to live, doing this early can spare you the mad dash for housing later. Visit MetroBorkersOnline.com to see the list of brokers, agents, and listings.

According to the Census Bureau, we built fewer homes than are needed to keep up with the growth rate. The housing market may not be prepared for the inescapable rush for housing in the near future. Because of people moving in together, moving back in with parents, and the general employment and housing crunch, the constrained desires of people to acquire a home will result in a new found freedom to purchase again.

Even if you are in a difficult place at the moment, plan ahead a little and visit a realtor early. Secure yourself a place in line now.

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