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Real Estate Update October 2007

By Sandrine Larsen

Real Estate Agent with TREG Chicago

October 01, 2007 11:03 AM

Your REALTORS®

Sandrine Larsen

October 2007
Real Estate Update

Success Driven By Results ,Results Driven By Commitment Commitment Driven By Integrity,
We Are Prudential Preferred Properties

Daniel Turney

Rates Tick Up

In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent for the week ending September 27, 2007, up from the previous week when it averaged 6.34 percent.
"Consistent with the direction of 10-year Treasury securities, average rates on 30-year fixed-rate mortgages drifted up in the past week to levels close to those at the beginning of the month," said Frank Nothaft, Freddie Mac vice president.

Mortgage Rates

Source: Realty Times

U.S. averages as of September 27, 2007:

30 yr. fixed:   6.42%
15 yr. fixed:   6.09%
1 yr. adj:        5.60%

Also tracking short-term Treasury notes, average rates on 1-year adjustable-rate mortgages (ARMs) dropped by 5-hundredth of a percent.

Banks Woo Borrowers
Who Have Good Credit

    Banks have plenty of money available for borrowers with great credit and a desire for a conventional fixed rate mortgage, says James Chessen, chief economist for the American Bankers Association.
     To attract these customers, lenders are offering fee waivers, competitive interest rates, and a willingness to negotiate.
     Banks like conventional borrowers because they tend to be the kind of customers that will take advantage of other products from the lender, including savings accounts, credit cards, and checking accounts.
     Deals like this make it important for borrowers with good credit to shop around and compare different incentives, experts advise.

Fix It Made Easy

    A broken appliance can be stressful, but finding the right part to fix it doesn't have to be, thanks to APWagner.com.
     Based in Depaw, N.Y., APWagner.com is a leader in the distribution of appliance parts and accessories. The 80-year-old firm services appliance dealers, service technicians and do-it-yourselfers. The site has started a live, online chat section so users can find what they are looking for on the first visit.
     The company has an inventory of more than four million pieces, and online parts professionals are available from 8 a.m. to midnight, seven days a week. The website also offers detailed descriptions and photographs of many products, image schematics, and repair tips for all types of major appliances.

Cities with Traffic That Will Drive You Crazy

    The nation's drivers wasted a total of 4.2 billion hours sitting in traffic jams in 2005, according to the Texas Traffic Institute's urban mobility report released last month. That's 38 hours per year per driver -- practically an entire work week.
     Here's a list of cities where the institute found the worst traffic jams, along with the number of hours in a year drivers spent stuck behind the wheel:
     Large Cities

San Francisco-Oakland, 60 hours

Washington, DC-VA-MD, 60

Dallas-Fort Worth-Arlington, 58

Houston, Tx., 56

Detroit, Mi., 54

Miami, Fl., 50

Phoenix, Az., 48

Chicago, Il., 46

New York-Newark, NY-NJ-CT, 46

Boston, Ma., 46

Seattle, Wa., 45

Philadelphia, NJ-DE-MD, 38
Medium Cities

San Diego, Ca., 57 hours

San Jose, Ca., 54

Orlando, Fl., 54

Denver-Aurora, Co., 50

Tampa-St. Petersburg, Fl., 45

Baltimore, Md., 44

Minneapolis, St. Paul, Mn., 43

Indianapolis, In., 43

Sacramento, Ca., 41

Las Vegas, Nv., 39

San Antonio, Tx., 39

Portland, Or., 38

Columbus, Oh., 33

Equal Housing
Opportunity

Sandrine Larsen
847.557.3420
sandrinelarsen@comcast.net
http://www.northshorepreferred.com

Daniel Turney
847.557.3449
Email: danielturney@comcast.net
Website: http://www.northshorepreferred.com

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Brian Hoots

Real Living Speckman Realty, Inc. - Bourbonnais, IL

Sandrine, welcome to active rain from a fellow IL realtor. Enjoy the site.

Oct 01, 2007 03:58 PM

Brad Andersohn

Retired Executive Director of Education at eXp - Boulder Creek, CA

ActiveBrad - 707.646.1876

Hi Sandrine

I see this is your first post on Active Rain. Congratulations!! I just wanted to welcome you to a fantastic Real Estate Industry Network!

Welcome aboard, I hope you'll continue to blog, and invite others. Wishing you all the success the industry has to offer.

Enjoy!!

Below are some useful sites and groups you may want to visit right away: You can also use the “search” feature to find almost anything on Active Rain.

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I hope you'll find these to be useful tools in helping you get started here on Active Rain. You will meet many wonderful people here!! Again, welcome to Active Rain, the best place for your Blog!

Good Luck to you and your business!

Oct 01, 2007 04:21 PM

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Sandrine Larsen

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