Weekly Market Forecaset

Week of: Monday, June 25, 2007

Present Market Conditions
Mortgage rates dropped slightly last week amid concerns that the housing market will continue to create drag on the economy into the second half of the year. In addition, on Friday the Dow Jones Industrial Average dropped 185 points, the S&P 500 Index lost 19 points and the Nasdaq Composite Index fell 28 points. Now many investors are holding their breath in anticipation of the many economic reports due to be released this week. Some of the highlights include personal spending and income, home sales, durable goods, and consumer confidence. In addition, the Fed will be meeting Wednesday and Thursday for their policy meeting to set the overnight lending rate.

Expectations
While bond yields have recently increased, investors aren’t expecting the Federal Reserve to change its 5.25 percent short-term rate. According to The Wall Street Journal, “With higher bond yields, the Fed now also has less reason to raise its target rate. That’s because businesses and consumers face higher borrowing costs, which are likely to produce slower growth ahead. In effect, the bond market is doing some of the Fed’s job of keeping total spending in the economy, and thus inflation pressure, within the economy’s normal capacity.”

Guidance
Given one of the strongest global economies in 30 years, attractive U.S. interest rates and the over supply of available homes for sale, the residential market continues to present excellent opportunities for home buyers. Consulting with a true mortgage professional will ensure every real estate transaction is optimized to meet your financial needs.

Authored by Georgie Cook
Traverse Mortgage Corporation
(231) 947-9700
(800) 968-3680
georgie@traversemortgage.com

April & May Bi Monthly Newsletter

SUBJECT: Listing activity report for April & May 2007

Summer is finally upon us and what great weather it’s been! The previous two months have been reminiscent of past years with improved activity across our inventory. April turned out to be one of the best months we’ve had in a long time & May also carried a good amount of momentum. The increase we experienced in deals being written and closed, at the start of the year, has continued.

However, you’d have to be living a sheltered life to not have read something in the papers or publications that pertain to the very tough market throughout the nation and, unfortunately, the worst here in Michigan. This trend continues with no apparent end in sight! Realtors are working harder than ever to find buyers, to put deals together and to manage them to a close. The hours required just to survive have increased dramatically. We are very glad to be doing as well as we are and it highlights that in this new economy, business as usual just doesn’t make it. Our Company’s internet presence continues to provide superior representation and marketing in an attempt to locate buyers that the competition cannot.

Overall predictions nationwide are that sellers will need to continue to reduce their asking prices and northern Michigan remains no exception. Price is the primary driving force and not much else seems to matter. Our team is doing its part to stay at the forefront and to seek out as many effective venues as possible to market your property. A couple of examples are new, additional websites such as: landwatch.com & landandfarm.com. Additionally, we’ve utilized new downstate print venues and local publications to advertise not only our inventory but our main website: a 24 hr. /365 day link to the details of your listing.

We expect good activity during the next couple of months, but please keep in mind that most of June and July typically sees a plateau in activity with few dramatic increases until August. Only time will tell, but you can be assured that we will capitalize heavily on any and all inquiries.

Thank you again for your continued loyalty & support. Please feel free to stop by, call or email us at anytime with any comments, concerns or questions.

Brad Nichols
brad@irpmi.com
231-883-2255