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, intermediate-term home loan was 5.81. And it hasn't been any lower since March 2, when the average was 5.89 percent. Both the 30 and 15-year fixed loan cost an average of 0.5 points. A point ... 11/29/2006

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 or work space in "pop-up" structures, or through the addition of a new floor or two. Top-floor apartments could be transformed into two storey penth... 11/29/2006

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 the quarterly figures look -- and despite some softness they look very good in the context of the past decade -- they do not tell the whole story. While unit sales are easy to track, data rega... 11/28/2006

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 sell for significantly less than comparable homes in the neighborhood. 11/28/2006

How do you receive bonus points? I searched the site but I cannot find anything that clearly explains the points system. Scott Geramiwww.naperhomes.com 11/28/2006

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 of its drivers to learn how to race "wheel to wheel".  This is an entry level series and there are no cash prizes but trophies are of good quality.There are currently forty three licensed ra... 11/27/2006

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. 11/27/2006

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 was proper to thank the Lord for it and extend the usual annual compliments.  ~Mark Twain 11/23/2006

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 GeramiBroker/OwnerReal Time Realtyhttp://www.naperhomes.com/630-357-4800 11/19/2006

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 stages their home and lists it at market value it would sell in a reasonable amount of time.Scott GeramiBroker/OwnerReal Time Realtyhttp://www.naperhomes.com/630-357-4800  11/19/2006

 As of November 16, 2006....   Sold PropertiesSold Price Range# ListingsAvg. Days on Mkt$150,000 - $199,999110$200,000 - $249,9992960$250,000 - $299,99911366$300,000 - $349,99924053$350,000 - $399,99923170$400,000 - $449,99918071$450,000 - $499,99919461$500,000 - $549,99913279$550,000 - $599,99910980$600,000 - $699,99913782$700,000 - $799,9995896$800,000 - $899,99949133$900,000 - $999,99921196$1,000,000 - $1,499,99960243$1,500,000 - And Over15231  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume81$445,000$504,513$2,295,000$155,000$791,581,312 Source; Multiple Listing Service of Northern Illinois 11/16/2006

As of November 16, 2006...  Sold PropertiesSold Price Range# ListingsAvg. Days on MktLess than $149,99911$150,000 - $199,999555$200,000 - $249,999548$250,000 - $299,99915$300,000 - $349,9991178$350,000 - $399,999130$450,000 - $499,99911$600,000 - $699,999143$900,000 - $999,9991228  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume59$214,500$298,524$959,000$137,500$5,074,900Source: Multiple Listing Service of Northern Illinois 11/16/2006

As of November 16, 2006....Sold PropertiesSold Price Range# ListingsAvg. Days on MktLess than $149,9999458$150,000 - $199,99922246$200,000 - $249,99922343$250,000 - $299,9997846$300,000 - $349,9997091$350,000 - $399,99936101$400,000 - $449,9991859$450,000 - $499,999564$500,000 - $549,9998111$550,000 - $599,999823$600,000 - $699,99910141$700,000 - $799,999744$800,000 - $899,9995307$900,000 - $999,9994210$1,000,000 - $1,499,9992539$1,500,000 - And Over1150  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume59$214,000$254,819$1,850,000$100,000$201,561,792 Source: Multiple Listing Service of Northern Illinois 11/16/2006

As of November 16, 2006....Sold PropertiesSold Price Range# ListingsAvg. Days on Mkt$200,000 - $249,9991175$250,000 - $299,999470$300,000 - $349,999389$350,000 - $399,9995100$400,000 - $449,9995100$450,000 - $499,9994152$500,000 - $549,9994161$550,000 - $599,9991102$600,000 - $699,9994144$700,000 - $799,9991180$1,000,000 - $1,499,9991280  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume125$433,000$467,267$1,299,900$232,000$15,419,800Source: Multiple Listing Service of Northern Illinois 11/16/2006

   As of November 16, 2006....   Sold PropertiesSold Price Range# ListingsAvg. Days on Mkt$150,000 - $199,999110$200,000 - $249,9992960$250,000 - $299,99911366$300,000 - $349,99924053$350,000 - $399,99923170$400,000 - $449,99918071$450,000 - $499,99919461$500,000 - $549,99913279$550,000 - $599,99910980$600,000 - $699,99913782$700,000 - $799,9995896$800,000 - $899,99949133$900,000 - $999,99921196$1,000,000 - $1,499,99960243$1,500,000 - And Over15231  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume81$445,000$504,513$2,295,000$155,000$791,581,312 Source; Multiple Listing Service of Northern Illinois 11/16/2006

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 be keeping an eye on these stats month by month. If anyone has a comment or opinion on what exactly might be causing this to happen please feel free to contact me. Enthusiastically, Scott Gerami-ABR,GRI,e-ProBroker OwnerReal Time Realty,... 11/15/2006

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 will make your home appear larger. Clean up spills from messy painters. Hire professionals to paint mullions on windows and staircase spindles.  Slipcover mismatched furniture in a room that requires visual unification.  Discover way... 11/14/2006

  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 the credit reporting bureaus understand that the consumer is shopping for the best loan. "So for example, if you're shopping for a new mortgage and three potential lenders pull your credit score within three weeks, that is looked at as ... 11/14/2006

CLOSED LISTINGS - Detached Single  MLS #Street #CPStr NameCityArea# RmsBedsBathsLOList PriceSold PrClosed DateStatus Date1  06193082311 Danbury DRNAPERVILLE540731.122993$279,900$267,00011/06/200611/07/20062  062688311459 ENCINA DRIVENAPERVILLE54074223120$310,000$296,00011/13/200611/13/20063  062591921412 WestglenNAPERVILLE540842605$319,900$291,00011/01/200611/02/20064  06219938230 ELMWOOD DRNAPERVILLE540952.123156$329,900$290,00011/03/200611/03/20065  06280205375 LARCHMONT CTNAPERVILLE540732.121361$349,900$349,90011/06/200611/07/20066  0626057811S032 West StreetNAPERVILLE540942.123268$359,900$337,00011/01/200611/01/20067  062267771519 CHARLOTTE CIRCLENAPERVILLE540842.122782$367,990$361,00010/16/200611/11/20068  06309721401 MENOMINEE LANENAPERVILLE540942.123038$394,900$360,00011/09/20061... 11/14/2006

It's interesting that in a recent Fine Homebuilding magazine, where they picked the 25 most important homes in America, Frank Lloyd Wright's Fallingwater graced the cover. And, not only does the house sit over water, but there's water running inside which is causing damage.Now, what does FLW have to do with Naperville you ask. We have an historic district in the downtown area and several homes were built utilizing FLW's studio. It's easy to recognize these homes...once you know what to look for.In fact, Illinois has probably the largest number of FLW homes, as he lived in Oak Park, Illinois, a near western suburb. His family home is now part of the trust and they have tours of the house. The original furniture is still in the house. And, you can see the Japanese prints he loved in his o... 11/13/2006