More Lender problems - 07/31/07 01:57 PM
American Home Mortgage, a New York based lender, is broke. No money. And, it didn't fund its scheduled closings Monday or today.
Reminds me of Sun Mortgage back in the '80's. They were advertising and funding loans at "low" rates...somewhere between 8 and 10 percent (that was low!). Comes an … (7 comments)
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The horse has left the barn - 07/28/07 11:14 AM
You just have to wonder about our government at times.
According to Sandra Braunstein, the Federal Reserve's director of consumer affairs, THE FED is writing rules to regulate prepayment penalties, escrow accounts and stated-income loans she reported this past week.
D'uh? So, if I may inquire: What took so long? These rules/regulations should … (4 comments)
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Curb Appeal: What is it? - 07/27/07 12:16 PM
The old bromide: "I know it when I see it" is so apt when we talk about curb appeal.
So, what things can you do to get 'curb appeal?'
First, if your front lawn is brown and filled with weeds many buyers will not venture into the house. If … (4 comments)
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An American Tradition: The Front Porch - 07/26/07 11:42 AM
We've always purchased a home with a front porch. That's been a requirement. And, at first, I just didn't 'get it.'
Now...I love my front porch!
And here's where I go to read the morning paper with my first cuppa, before the day gets hectic or overwhelming, before the temperature gets too hot … (4 comments)
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Eileen's Naperville Single Family Statistics for July, 2007 - 07/25/07 12:25 PM
Naperville Single Family July, 2007 Stats As of 7/25/2007: Number of Active listings: 1343
Average list price: $675,709
Average days on market: 160
The breakdown:
There are 261 3 bedroom homes on the market; average price: $404,252. Market time: 128 days
There are 900 4 bedroom homes on the market; average price: $686,715. Market … (4 comments)
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Predictions? - 07/24/07 06:26 PM
While Harry Potter may be able to see the future, the CEO of Countrywide Mortgage, Angelo Mozilo, has cracked his crystal ball. He "thinks" that the housing market will improve in 2009, as there is still too much inventory out there according to a report on TheStreet.com.
So at last, we're getting … (0 comments)
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Opera Comes To DuPage - 07/22/07 06:30 PM
The DuPage Opera Theatre, under the direction of Kirk Muspratt, (Little Orphan Annie's brother) and staged by Michael La Tour, presented an outstanding performance of La Boheme composed by Giacomo Puccini well over a hundred years ago.It's a love story. Boy meets Girl. They fall in love. Girl dies. Kinda a … (0 comments)
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Butterflies in My Garden - 07/20/07 06:51 PM
Today was the perfect summer day...sunny with a cool breeze. Just perfect.
And my eldest came over (with the girls) to take pictures of my garden. Shawna is http://www.thecasualgardner.com/ and she's had an interest in flowers for years. She used to paint them. Now she writes about them and is making a pilot … (6 comments)
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The Next Hot Button - 07/19/07 01:24 PM
I just read an article that the next "hot button" for upscale homes will be a wine cellar.
And, that's probably correct...as I recall seeing really nice rooms fitted out for storing wine in new construction homes and recently built homes. Some of these rooms would make a restaurant envious. Temperature controls, … (6 comments)
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Harry Potter Comes to Naperville - 07/18/07 11:39 AM
Ok...even we Muggles know that Friday is the BIG day. The last of the Harry books will be released.
And, movie Number 5 just came out. It's fast-moving and has a darker tone throughout the film. And has a villian you'll love to hate who could be an advertisement for VS's PINK … (2 comments)
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Reverse Migration - 07/16/07 05:19 PM
There was an interesting story in the Chicago Tribune this past week.
It seems that more elderly seniors are returning to the Chicagoland area. And, less seniors are moving south.
34,000 seniors over the age of 85, returned to the Chicagoland Metro area this past year, while only 17,000 left for warmer climates. … (3 comments)
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NAR Economist Foretells Future - 07/14/07 12:31 PM
"Construction of single-family homes will probably decline for a third straight year in 2008, according to the latest monthly forecast from the National Association of Realtors. Housing starts are expected to drop 20.6% in 2007..."
This information is courtesy of our economists at the National Association of Realtors. Probably? How … (3 comments)
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So, How's the Market? - 07/13/07 01:45 PM
We were having an online discussion and one of the newer agents asked us what we respond when asked:
How's the market?
There's any number of answers. Some of us were trained many years ago by Tommy Hopkins to say: Unbelievable! And, that word could cover a multiple of sins.
Some of us will … (6 comments)
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It's a Difficult Year for Builders - 07/11/07 12:53 PM
"There is no real decline in homes being built from these guys. But there are huge declines and cancellations of orders," says Jim Cramer, speaking of national builders: Lennar, Toll Brothers, Pulte, Horton and K&B.
Yes, I heard that there was over 37% cancellations of builder sales contracts. And, that's a lot, … (1 comments)
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Taffic in Naperville - 07/09/07 12:52 PM
We have some really busy streets that run thorough our city.
Route 59 which is at the western edge of town and travels north and south is a major, commercial road just touching The Fox Valley Mall.
Ogden Avenue is another commercial street, meandering its way south-west and north-east. Every car dealership is … (3 comments)
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A MEME Invitation from Carole Cohen - 07/08/07 01:28 PM
And, what can I say about Media?
Back in 1972, when we lived on Long Island, New York, I worked for the "old" United Press International. As far as I know, they were one of first companies to install a computer system. We had training on those IBM machines. Learning how to … (4 comments)
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Some Insurance changes - 07/08/07 12:46 PM
We live in a pretty moderate climate.The last big earthquake was in 1812...so that's almost 200 years ago. The last big, bad blizzard was in January, 1967. The last nasty, destructive tornado was down in Plainfield in the '90's. The last 500-year flood was in 1995. The last dustbowl drought was … (0 comments)
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The Average Agent in Illinois - 07/02/07 08:40 PM
My broker and I were talking the other day.
He asked how many agents I thought were in our MLS. Last I looked there were 50,000 agents. He tells me that today there are 53,000 agents. Wow!
Then we look at stats. Based on that figure, the "average" agent sold 3.5 homes. Getting … (8 comments)
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Let's Negotiate! Part 3 - 07/02/07 02:08 PM
If you've followed the story...buyer and seller finally agree on price.
Buyer has the inspection done and it reveals that the side windows in the living room are both rotted and the seals are gone. It will cost approximately $1000 to replace.
Seller says NO!
Buyer is getting tired of the seller's "NO's".
And, … (5 comments)
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