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DAILY NEWS & ADVICE FROM REALTY TIMES/ 11/09/07

WEICHERT REALTORS/ NEW JERSEY ESTATES

Paul Stillwaggon
908-561-5492

November 2007

LINKING THE LATEST TECHNOLOGY
TO OLD FASHIONED SERVICE

Daily News And Advice
Updated 01:00 AM CST Today

Today's Feature Stories

Long-Term Mortgage Rates Ease Slightly

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.24 percent with an average 0.4 point for the week ending November 8, 2007, down from last week when it averaged 6.26 percent. Last year at this time, the 30-year FRM averaged 6.33 percent. The 30-year FRM has not been this low since the week ending May 17, 2007, when it averaged 6.21 percent. FULL STORY->

Ask Realty Times

Can a developer sell property like mine with a 60 percent discount? Must a seller sign a sales agreement? Are seller discounts limited by law? Peter G. Miller looks at the week's most interesting questions for Realty Times. FULL STORY->

Foreclosures Undercutting Social Benefits of Homeownership

If it takes a village to raise a child, what happens when the village is fragmented by foreclosure? Fewer social services are available when more are needed. FULL STORY->

Headlines

Final 'Red Flag' Rules Set To Wave Off ID Theft
Federal regulations are poised to further take a bite out of the crime of ID theft, which is already in retreat thanks to greater consumer awareness and protections. FULL STORY->

Hot Tub Maintenance
FULL STORY->

Foreclosure Victims Should Get Help, Institute Says
Congress is focusing on regulations to end lending abuses, but a Washington group wants victims of foreclosures to be helped, too. FULL STORY->

The Battle of the Interest Rate vs. Lower Closing Costs
An estimate of closing costs is not only good real estate practice; it's also required by law. Lenders must provide a Truth in Lending Statement of what it will cost the buyer to actually borrow the money to purchase a property. FULL STORY->

NIMBY Profile Tough To Pigeonhole
NIMBYs, those who oppose nearby development, aren't so easily pigeon-holed and they represent a cross-section of the populace with a common bottom-line concern. FULL STORY->

Majority-Minority Counties Growing
Minorities are now the majority in nearly one in ten of the nation's 3,000-plus counties, according to the latest Census Bureau tally. For the most part, the majority-minority counties include major cities. Lew Sichelman reports. FULL STORY->

Ask the HOA Expert
A board has announced that collection and rule violation hearings will be held in public. Is this advisable? FULL STORY->

Renters Without Insurance Risk Blowing Homeownership
Don't pinch pennies on renters insurance to quickly return to home ownership. It's important to protect yourself and your belongings no matter where you live. FULL STORY->

Kitchen Trend Report Inspires Kitchen Lovers
It's kitchens and bathrooms that count-in more ways than one-but too often the full significance of their contribution is overlooked and, therefore, full investment potential may not be realized. PJ Wade shares trends from a new report to encourage property owners to keep their kitchens up-to-date. FULL STORY->

Interest Rates: The Looming X Factor
Interest rates are at their lowest levels since May. Columnist Peter G. Miller looks at the curiosity of low mortgage rates -- and why they may rise. FULL STORY->

Media Still Not Responsible For Housing Woes
Implications the media is somehow to blame for the state of the housing market generates the mental image of a blind weasel doing the Shuffle. FULL STORY->

Tragedy Shows the Importance of Honest Communications in Brand Building, Consumer Confidence
From the industrial revolution to today's brick and mortar and online communities, where the focus is on efficiency, productivity, and results, effective communications are a challenge but also a necessity if a builder's brand is to remain relevant in the marketplace. FULL STORY->

A Bad Idea At The Wrong Time
These guys are nuts. HR 3915, called the Mortgage Reform and Anti-Predatory Lending Act of 2007 is set to completely wipe out all the bad people in the mortgage business. Thank goodness we have a Congress in the first place, right? FULL STORY->

Appraisal-Inflation Scheme Alleged by New York.
In a suit that has rocked the appraisal industry, New York attorney general Andrew Cuomo charged that First American Corp's appraisal management subsidiary violated federal and state rules by allowing a major mortgage client, Washington Mutual, to hand-pick appraisers willing to deliver inflated valuations. Ken Harney reports. FULL STORY->

Remodeling or Rebuilding: Protect Yourself From Allergy Eruptions
Allergies can hit any time, but especially when remodeling or rebuilding projects are underway there's a greater likelihood that the sniffles and sneezes might also come along. FULL STORY->

Mortgage Rates Near Six Month Low

Quake Alert: Secure Household Items

Safeguarding Your Mortgage Application Takes Commonsense

Survey: Repair Roads, Don't Build New Ones

Renters Get A Breather

Canadian Builders Go Green in a Big Way

SoCal Wildfire Victims Get Tax Relief

Recruiting Directors

Bubbles Seen as Good for Economy

October Roundup

California Fire Victims Obtain Fast Housing, Disaster Assistance

Is The Federal Reserve Feeding Inflation?

Are "Boomerang Kids" a Symptom of Significant Urban Problems?

California's First Home Price Decline Since 1997

Democrats' New Mortgage Reform Bill Brimming with Consumer Protections.

Important Facts that Will Affect Real Estate Pricing Over the Next 20+ Years

10 Ways To Buy Better In A Down Market

Multiple Offers Sign of Faltering Buyers Market

IRS Says Foreclosures, Short Sales Can Be Less Taxing

How To Buy 200 Houses A Year

CURRENT
MORTGAGE RATES

Interest Rate Watch
30 yr fixed: 6.24%
15 yr fixed: 5.90%
1 yr adj: 5.50%
(U.S. Daily Averages)

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Paul Stillwaggon
908-561-5492,
New Homes/ Land
& Pre-Owned Homes
E-mail: njestates@earthlink.net
Web: http://www.newjerseyestates.net/
908-561-5492 (Direct) 908-310-1358 (Cell)

Weichert Realtors
New Jersey Estates
908-561-5400
55 Stirling Road, Watchung, N.J. 07069