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November Roundup - 11/29/06 11:16 AM
By Realty Times StaffNovember 28, 2006Loan rates were falling to their lowest level since the first of the year as November drew to a close. According to Freddie Mac's latest weekly survey, the average 30-year fixed-rate mortgage was 6.18 percent, down from 6.24 percent during the previous week. Last year at this time, the average was 6.28. This is the lowest rate for long-term mortgages since the week ending Jan. 26, when the average was 6.12 percent. The 15-year fixed-rate mortgage averaged 5.91 percent, down from 5.94 percent the week before. At this time last year, the average for a fixed-rate, (1 comments)
Prefab Rooftop Addition May Inspire Canadian Intensification - 11/29/06 11:08 AM
November 28, 2006As urban land values drive new development upward to skyscraper heights, the flat roofs of existing buildings become fertile ground for construction. Add a floor or two to an older building and the result may be increased property value and greater income potential. Owners of multi-unit residential, commercial or industrial buildings may be overlooking opportunity when flat roofs remain unused space. The green movement has encouraged the growth of rooftop gardens, but this is only one aspect of the development potential. The level, open space on top of older buildings may represent ideal sites for construction of new living (0 comments)
A Time For Yellow Flags - 11/28/06 06:16 PM
November 28, 2006Figures from the National Association of Realtors show that the market has done fairly well. Of 148 metro areas, 102 showed year-to-year price gains, 45 were down and one was unchanged. Twenty-one metro markets actually showed doubled digit price increases. Overall, prices nationwide dipped 1.2 percent to $224,900 from $227,600 a year earlier. As to sales, they're down 12.7 percent when compared to the third quarter of 2005, but 2005 was an amazing year. As things now stand, the country will sell better than 6.25 million homes this year, one of the best years on record. As good as (0 comments)
What is "H.O."? You can probably guess--it means "home odors". - 11/28/06 01:05 PM
Be careful of odors in your home. If your family room smells stuffy and stale, or if your cat or dog has left a distinctive odor in the hallway, take action by eliminating the source of the odor rather than merely treating the effects. Smells have a powerful effect on the way people react to a house, and no amount of room freshener or vanilla on the light bulbs can mask a serious odor problem. In fact, such remedies may draw attention to the problem. We have seen homes with an odor problem languish unsold on the market for months or (1 comments)
Bonus Points? - 11/28/06 11:04 AM
How do you receive bonus points? I searched the site but I cannot find anything that clearly explains the points system. Scott Gerami www.naperhomes.com (8 comments)
Sponsers Wanted! - 11/27/06 08:58 PM
RTR Motorsports is looking for sponsers for the 2007 Michelin Challenge series http://www.viperdays.com and the Viper Racing League http://www.viperracingleague.com/ So far Real Time Realty is the featured sponser for next year but we are looking for supporting sponsers to help fund the full season. Last year I was fortunate to win 2006 Michelin Series Rooky of the Year. The series will start in New Orleans, LA in mid January and end in October in Topeka KS. We will be traveling as far east as Virginia and as far as California. The Viper Racing League (VRL) was founded in 1999 for the sole purpose (0 comments)
A New SCAM is on the loose! - 11/27/06 08:09 PM
AS CON ARTISTS ARE "VISHING" YOU A HAPPY HOLIDAY SEASON TO YOUR FACE, WHILE THEY MAKE OFF WITH YOUR CASH. DON'T MISS LEARNING ABOUT THIS ALARMING NEW WAY THAT CRIMINALS ARE SEEKING TO STEAL FROM YOU, AND PASS IT ON TO ALL YOUR FAMILY AND FRIENDS TO PROTECT AND INFORM THEM AS WELL. (0 comments)
Happy Thanksgiving! - 11/23/06 12:34 PM
Thanksgiving Day, a function which originated in New England two or three centuries ago when those people recognized that they really had something to be thankful for - annually, not oftener - if they had succeeded in exterminating their neighbors, the Indians, during the previous twelve months instead of getting exterminated by their neighbors, the Indians. Thanksgiving Day became a habit, for the reason that in the course of time, as the years drifted on, it was perceived that the exterminating had ceased to be mutual and was all on the white man's side, consequently on the Lord's side; hence it (3 comments)
Ebay like rating system for homes on the market? - 11/19/06 09:31 AM
I would like to see a system that would allow buyers and agents rate homes currently on the market. I am so sick of wasting my time and my client's time going to homes that sound good on the description but are misrepresented just to draw buyers in. If anyone knows of such a system I would be very interested. Scott Gerami Broker/Owner Real Time Realty http://www.naperhomes.com/ 630-357-4800 (3 comments)
Are Seller's Going Crazy? - 11/19/06 09:13 AM
I was reading a local magazine this morning and I ran across an article that was talking about how desperate sellers are becoming. Apparently a seller of a 1.475m house offered a brand new H3 Hummer as part of the deal! What would happen if we were in a bad market? Naperville has enjoyed many years of double digit appreciation that houses selling before they hit the market that now that we are experiencing a Normal market Sellers are freaking out and Buyers think they could pick up properties at 80-90% of asking price. I feel that if a seller properly (6 comments)
Closed Listings average days on market increased 77 days in 2005 to 101 days in 2006
Average Sales price to list price ratio 100% in 2006 vs. 104.35% in 2005
Average Sales Price increased in 2006 by 7.47%
2006 SOLD LISTINGS
Market Stats for Plainfield Illinois 2005 vs 2006 - 11/17/06 04:26 PM
Summary: 2006 Closed volume is 30.82% less than 2005 Closed Listings average days on market increased from 87 days in 2005 to 131 days in 2006 Average sale price to list price ratio 97.92% in 2006 vs. 98.98% in 2005 Average sale price decreased in 2006 by .42% 2006 SOLD LISTINGS (0 comments)
What is Happening to the Naperville Real Estate Market? - 11/15/06 08:39 AM
I just compared data for closed properties in Naperville Illinois for October 1st 2005 thru October 31st 2005 and compared it to the same time this year. Findings:#1-27.74% less homes closed in 2006. #2-The homes that did close took 21.68% longer than the homes closed in 2005. (101 days in 2006 vs. 83 days in 2005) #3-The sale Price to list price ratio dropped from 97.12% in 2005 to 96.21 in 2006. #4-The average sale price of closed properties rose in 2006. 17.45% I think it's interesting that the prices are going up but the volume is going down? I will (1 comments)
Seller's Home Appeal for Today's Market - 11/14/06 05:03 PM
After years of hearing from successful sellers that they didn't have to do a thing to sell, they now need to understand how they can stand out from their competition. Here is a handy list to help sellers determine if some features in their home might need some attention. Test all door and cabinet knobs. Replace mismatched or inexpensive hardware for a quick update. Buyers rarely can get beyond a knob that comes off in their hand as they attempt to use a door. Take the time to paint walls, trim and ceilings. Keep adjoining rooms in one color palette, which (3 comments)
Many homebuyers frequently wonder, "If I am shopping for a home loan will my credit be affected each time a credit report inquiry is made?" It's a logical and intelligent question to ask; the answer is: not significantly, if the credit checks are done in a short period of time. When a credit check is made by a potential lender it is called a hard inquiry. When a hard inquiry occurs it does have an impact on your credit score. However, when you're shopping for a mortgage or a car loan, credit bureaus typically cluster the hard inquiries together because (1 comments)
Movie iPod for Listings?....... - 11/10/06 07:53 AM
No, there is no such thing yet but I am trying to figure out a way to take advantage of my 80 GB Movie iPod to be able to sync MLS info (like the treo phone does now) AND all pictures/virtual tours of the listings. Technically, with that big of a hard drive, one could fit almost 15,000 listings! Thats all the active listings in MLSNI in the palm of your hand. You could plug it into your computer every night and wake up with an up-to-date MLS to-go! If anyone else thinks this could revolutionize the way we do business, please (1 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.