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The Bubble?
What’s the latest about the real estate “bubble.”? Speculation is that the bubble has either already burst or is about to. David Berson, chief economist for Fannie Mae says, “there is only a "handful" of regions that face a decline in housing prices. Not since the 1930s has there been a national decline in housing prices, and regional declines only took place in limited areas during the early 1990s, such as in California and the Northeast.” David Lereah, chief economist at NAR's says, “the momentum gained from low mortgage interest rates will carry strong home sales into 2003, with an improving economy offsetting modestly higher mortgage interest rates as the year progresses.” Go to the Wall Street Journal’s real estate section www.realestatejournal.com for excellent information on the real estate market.
Interest Rates
Interest rates are inching upward. Rates for a 30-year conventional loan are still slightly below 6%.
What You Should Know About Your Home Inspector
All Illinois home inspectors are required to have a license. This new requirement also stipulates that home inspectors pass a board exam and complete ongoing educational classes to continue their license. Please make sure that before you hire a home inspector that you ask if they are licensed and ask for his/her license number. You can find more information on home inspectors on the American Society of Home Inspector’s website www.ashi.com.
Winterizing your Home
It may not be winter yet, but it's never to early to start thinking about getting your home ready for those cold frosty nights. And, if you do it now, you don't have to freeze while your getting the work done.
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Check window seals and caulking. |
Replace worn seals, add weather stripping and caulk around windows, doors and don’t forget the basement window wells. This will prevent those nasty drafts from sucking all your heat of your house.
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Change your furnace filter. |
Dirty filters prevent heat from circulating in your home.
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Clean your chimney. |
An inexpensive task that will prevent unwanted fires in your fireplace.
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Replace worn shingles. |
Check flashing around your chimney and any other seams on your roofline. If you have had ice damming in previous years, you might need to replace your flashing.
Want to see where all of your energy is going? Check your home’s energy usage at www.energyguide.com and audit your home to see where you can save money right away.
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