Rick’s Grape Skinny
March 2012
“Behold the rain which descends from heaven upon our vineyards, and which incorporates itself with the grapes, to be changed into wine; a constant proof that God loves us, and loves to see us happy.” Benjamin Franklin

American Grand Cru Society
What a Grand Idea!

Every now and again, we all stumble upon something in the wonderful world of wine that not only piques our interest…but makes us say, “Wow…what a great idea. Wish I’d thought of that!” Well, the American Grand Cru Society is just such an idea – and though it’s not my idea, I I am no less excited to have become a member during its formative stages…and I look forward to helping the AGCS achieve its noble goals.

Founded by long time wine aficionado and professional wine consultant, Greg Poirier, the not-for-profit AGCS was principally conceived from the depths of Greg’s wine-related passion and his drive to better serve all who might buy or produce wine in America. Having become a Certified Sommelier in 1995 (through the renowned Court of Master Sommeliers), Greg also owns and operates a travel and wine education business, Wine Guy Tours, that offers tailored, instructional travel and training experiences to the world’s major wine regions. http://www.wineguytours.com/ Greg also earned an MBA from the acclaimed School of Business in Bordeaux, France this past year! And oh by the way, when Greg isn’t engaged in his wine related passions, he also holds a full time job!

At the risk of putting words in Founder Greg’s mouth, it’s at least my sensing that the AGCS was born in large part from the universal knowledge that the best wines are made in the vineyards…and that through identifying America’s best vineyards…we might also derive an evolving list of America’s best wines and wine producers. To be sure, the concept of identifying and classifying the best vineyards and the best terroir for growing grapes is not new, and indeed the “Grand Cru” terminology is taken from the highly regulated French system of categorizing and classifying their wines.

There’s certainly no reason to try and replicate the complex French approach, but as US wine consumption grows and marketing techniques and approaches become more clever and aggressive, it is important, I think, to do all we can to protect consumers through achieving and ensuring common usage and understanding of key wine terms…especially those that are used to market and promote wine consumption. Among those terms are Grand Cru and American Grand Cru – especially when referring to and inferring something about American vineyards.

With that thought in mind, Greg registered the terminology American Grand Cru® with the US Patent and Trade Office. As a result, only the AGCS now has the legal basis and authority to designate Grand Cru and American Grand Cru Vineyards — and to authorize the use of that terminology on labels and marketing materials. To date, only two vineyards have earned American Grand Cru status — Napa Valley’s famed Robert Mondavi Kalon Vineyard and the equally regarded Pisoni Vineyard in the Santa Lucia Highlands. Isn’t it also about time we recognized those who grow the grapes and who farm and provide stewardship of some of our nation’s best and most precious terroir!?

This is an endeavour whose time has come and whose merits will benefit consumers, growers, winemakers, producers, and the entire industry of wine professionals in and outside of America. Now in its infancy, I hope you will consider joining the AGCS and become a part of helping it grow, prosper and bear fruit. Prosit!
http://www.americangrandcrusociety.com/

Toast of the Month
“May the strength of God pilot us, may the wisdom of God instruct us, may the hand of God protect us, and may the word of God direct us.” St. Patrick

The Monthly Cluster!
Red
Carménère (Chile’s Signature Grape)
Viña Maquis 2009 Deep, Dark and Delicious!
(Colchagua Valley, Chile)/$12-$14 – For nearly 60 years, the Hurtado family grew some of Chile’s best grapes and sold them to some of Chile’s finest wineries. Twelve years ago however, under the visionary leadership of Ricardo Hurtado, the family decided to make its own wines…an endeavor that took years of dedicated hard work. So in 2002, with a new state-of-the-art winery, the help of Xavier Choné overseeing the vineyards and the magic of Chief Winemaker, Juan Jofré, this 100% Carmenere brilliantly showcases the Hurtados’ extraordinary success. Key to making this classically expressive wine was aging only half of the wine in second and third use French oak barristas for a year…an approach that yields a fruit-forward and mouth watering wine! http://www.vinamaquis.com/

Red Blend
Toro de Piedra 2009 Carménère – Cabernet
Rich, Succulent and Smooth as Silk!
(Maule Valley, Chile)/$11-$13 – From the prestigious Viña Requingua family and their Puerto Viejo portfolio of wines, this scrumptious blend of 60% Carménère and 40% Cabernet Sauvignon is nothing short of superb. Aged for a full year in an unspecified apportionment of new French and American oak, the result is a highly aromatic wine whose delight lasts and lingers for several lip-smacking minutes. Reminiscent of Left Bank Bordeaux blends of a hundred or so years ago, one can only imagine and wonder how this splendid blend might stack up against its more ancient French ancestors. For what it’s worth, I’d stand this up against many contemporary Bordeaux blends! And lest there be doubt, this wine is a great value! http://www.requingua.cl/english/index.php

Domaine Houchart 2007 Cotes de Provence
(Provence, France)/$11-13 – From one of France’s most venerable and prolific wine producers, the Quiot family, this exceptional red blend is indeed a taste of the South of France! La Famille Quiot has been making wine since 1748…and for all those years, they have uniquely specialized in making wines from the Rhone and Provence Regions. All to say that they know what they’re doing…and each of us has the good fortune of being able to benefit from their exceptional winemaking prowess. The 2007 Rouge is comprised of mostly Grenache, Carignan, Syrah, and Cabernet Sauvignon and it was aged-to-taste — in new oak for 10 to 12 months. The finished product is a splendid medium-bodied quaff that is soft and fruit-forward. It’s also among the most versatile wines you’ll ever find.
http://www.famillequiot.com/

White
Cortese
SANT’ EVASIO 2010 Gavi di Gavi
(Gavi DOCG — Piemonte, Italy)/$15-$17
Cantina Sant’ Evasio was born from the ruins of World War II. With nothing much more than a destroyed chapel and fallowed vines to be found, Carlo and Anna Lacqua bought the land 50 years ago and began making wine for their friends. Over the span of many years, Carlo’s winemaking knowledge, skill and passion grew and today…aided by son Pier and daughter Andrea…the Lacqua family is not only making astonishingly excellent and notable wines…but wines that leave warm fuzzies and indelible memories! Off-dry, floral and impactful, this sinfully delicious Gavi di Gavi expression is one of the best I’ve tasted…and all for a price point that’s a rare find indeed.
http://www.santevasiovini.com/

” Last year, I told you that “a housing recovery will probably begin within a year or so.” I was dead
wrong. We have five businesses whose results are significantly influenced by housing activity. The
connection is direct at Clayton Homes, which is the largest producer of homes in the country,
accounting for about 7% of those constructed during 2011.

Additionally, Acme Brick, Shaw (carpet), Johns Manville (insulation) and MiTek (building products,
primarily connector plates used in roofing) are all materially affected by construction activity. In
aggregate, our five housing-related companies had pre-tax profits of $513 million in 2011. That’s
similar to 2010 but down from $1.8 billion in 2006.

Housing will come back – you can be sure of that. Over time, the number of housing units necessarily
matches the number of households (after allowing for a normal level of vacancies). For a period of
years prior to 2008, however, America added more housing units than households. Inevitably, we
ended up with far too many units and the bubble popped with a violence that shook the entire economy.
That created still another problem for housing: Early in a recession, household formations slow, and in
2009 the decrease was dramatic.

That devastating supply/demand equation is now reversed: Every day we are creating more households
than housing units. People may postpone hitching up during uncertain times, but eventually hormones
take over. And while “doubling-up” may be the initial reaction of some during a recession, living with
in-laws can quickly lose its allure.

At our current annual pace of 600,000 housing starts – considerably less than the number of new
households being formed – buyers and renters are sopping up what’s left of the old oversupply. (This
process will run its course at different rates around the country; the supply-demand situation varies
widely by locale.) While this healing takes place, however, our housing-related companies sputter,
employing only 43,315 people compared to 58,769 in 2006. This hugely important sector of the
economy, which includes not only construction but everything that feeds off of it, remains in a
depression of its own.

I believe this is the major reason a recovery in employment has so severely
lagged the steady and substantial comeback we have seen in almost all other sectors of our economy.
Wise monetary and fiscal policies play an important role in tempering recessions, but these tools don’t
create households nor eliminate excess housing units. Fortunately, demographics and our market
system will restore the needed balance – probably before long. When that day comes, we will again
build one million or more residential units annually. I believe pundits will be surprised at how far
unemployment drops once that happens. They will then re awake to what has been true since 1776:
America’s best days lie ahead.”

Well a Very Happy NEW Year to all my readers, supporters, clients and friends. It’s been a crazy year with travels to the home of the worlds largest oilsands deposits- Ft McMurray, Alberta. My father was inducted into the local Hockey Hall of Fame with the Ft McMurray Oil Barons as founder of the team. A proud son  I am. I can’t leave out the summer excursion with my wife and two terrific kids up to Torch Lake in Northern Michigan. If you haven’t been there add it to your bucket list. Simply a sensational lake and also ranked as one of the top lakes in the world.

Last but not least was the family event of the year to Disney World. Totally worth it. My kids had the time of their life. My son keeps wanting to back to the “Tower of Terror” he just turned 5.

As for us here at Jeff Dicks Real Estate have a fabulous 2012. We look for to helping you Buy or Sell a home here in the Triangle area of North Carolina. Check out the daily headlines for December 30th/2012

TOP NEWS • Spain to fire opening salvos in austerity drive Spain’s centre-right government will announce billions of euros in savings measures, using its first decrees since sweeping to power at November elections to give the nation a foretaste of tougher austerity to come.

• China’s factories falter, pro-growth policies eyed China’s factory activity shrank again December as demand at home and abroad slackened, a purchasing managers’ survey showed, reinforcing the case for pro-growth policies to underpin the world’s second-largest economy. • Colombia sells state-run power firm for $415 million Canadian-owned BCIF Holding Colombia S.A.S. has won a bid to acquire a Colombian state-owned power company for around $415 million, the country’s finance ministry said on Thursday. • HSH Nordbank sues Ally, JPM over mortgage losses German lender HSH Nordbank has sued several banks, including Ally Financial and JPMorgan Chase, over losses on $130.2 million in mortgage bond investments, according to court documents.

Do you know that the best time to post things to Facebook is 8am in the
morning?  What surprises me is that one of the worst times is 3pm.

Anyways,
on to Obama’s proposed refi program.  By the sounds of it this program might be
the ticket to getting a lot of people who are underwater refinanced.  The
question is will the guidelines be relaxed enough to allow borrowers to refi and
it make sense.  Remember in order to qualify for this program your loan will
have to be owned by Fannie or Freddie and it was transferred to them before May
31 2009.  So in other words if you bought or refinanced since May 31 2009 then
your loan will not qualify.  The final details will be out Nov 15th so I will
follow up once we get that info.  In the mean time you can check to see if your
mortgage is owned by either enterprise by going to Fannie Mae or Freddie Mac

In
other news the roller coaster continues in the markets.  After the EU meeting
yesterday they agreed to boost the bailout fund and struck a deal with private
banks to accept a 50% loss on Greek bonds…Wow!.  So even though job numbers
are not the greatest and earnings reports have been so so, just knowing EU looks
like they are on track to get their problem under control gave markets a nice
warm fuzzy feeling.  With that said, Stocks are up and bonds are down so rates
are back on the higher end today at 4.25% on a 30 yr fixed….more than likely
they will increase to 4.375% by end of day.  Until the next big announcement
comes it looks like we will be treading on the higher end of our rate
outlook.

Chris Blount AES Lending

Courtesy of Jeff Dicks Real Estate