MSHDA reduces the interest rate today to 5.875%!!!!!!

Week of: Monday, August 13, 2007

Present Market Conditions
The financial markets have been in the media headlines with high levels of volatility over the past week. Although 98.6% of all U.S. mortgages are performing and not late or in default, foreclosure rates are up 30% since 2006 among loans to borrowers with marginal credit. As a result, major investors have begun to shy away from mortgage backed securities. In essence, the entire mortgage debt market is being adversely affected by high levels of “irrational fear”. Several retail lenders have gone out of business because they have been denied access to their corporate warehouse credit lines. Consumers can have ample access to purchase homes and refinance existing loans but current market conditions will lower loan to value ratios and raise interest rates on jumbo mortgage loans.

Expectations
Ken Goldstein, an economist for the Conference Board, has said he doesn’t believe the sub-prime situation is enough to send the economy off-track. According to Goldstein, though, as long as employment stays strong and workers’ earnings grow substantially (4 percent annually, according to him), confidence – and spending – will remain high and the economy will chug along. “Not only is the economy strong enough to survive the crisis, it’s strong enough to quiet it,” he said.

Guidance
Mortgage interest rates remain historically low. With tightened lending standards and the heightened awareness of the importance of professional financial advice, its in your best interest to work with a knowledgeable mortgage lender when purchasing or refinancing your home.

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

Week of: Monday, July 09, 2007

Present Market Conditions
The Labor Department reported on Friday the U.S. economy continued to add jobs at an appreciable pace in June. The report suggested the economy is doing well, with employment gains widespread across industries and specifically strong hiring in health care and government. Both April and May’s employment gains were revised considerably higher, suggesting labor market conditions remain very supportive of economic activity to this point in the year. The unemployment rate remained a low 4.5 percent and workers saw solid gains in their wages.

Expectations
As reported by Brian Blackstone of the Dow Jones Newswires, “The jobs data also suggest the Fed’s steady interest-rate stance – which hit the one-year mark last week – will extend at least until the end of 2007, if not longer. And the payroll figures appear to confirm the Fed’s view that economic conditions have brightened while inflation remains the primary risk.”

Guidance
It has been said that as long as consumers are working, they’ll keep spending. With long-term mortgage rates moving lower for the third consecutive week and an abundance of both homes and incentives to purchase these homes available, this is absolutely the time to be in the buyers market. Consulting with Georgie will ensure every real estate transaction meets your financial needs.

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

Presenting words of truth written by a Traverse City area mortgage guru, Guy Cole of Countrywide Home Loans.

You’re meeting with your lender. All of a sudden terminology is being thrown at you left and right. Closing costs, pre-paids, down payment, assets, liabilities, income to debt ratios. You were ok up to the last one. Ratios? Now we are back in math? Lenders determine how much you’re loan amount can be based on how much you make and how much you owe, commonly called debt to income ratio’s. Example: Gross monthly income is $5,000.00 per month; therefore your housing cost should not exceed 31% or $1,550.00 including property taxes and home owners insurance. Your total debt should not be more than 42% of your income or $2,100.00. This is where you need to establish your own budget based on total expenses per month to insure you’re comfortable with the total payment that you’re being quoted. Things have a tendency to get a little scary when you’ve paid all of your monthly expenses only to discover you need to go grocery shopping and guess what? All of the money is now gone. Have fun looking for your home, the team at International Realty Plus is a great place to start.

Authored by Guy Cole
Countrywide Home Loans
(231) 941-5767 ext. 226


CMD 1261 – Traverse City, Mi

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

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

Week of: Monday, May 21, 2007

Present Market Conditions
The Dow Jones Industrials ended the week on an all-time high. With investors focusing on blue-chip mergers and acquisitions, the buying fever led to record highs. More good news was reported last week as the Labor Department announced that jobless claims fell for the fifth straight week. The number of new filings fell by 5,000 in the week ended May 12th. This brought claims to their lowest level since January. The four-week average, which is considered the better model of underlying trends, fell 12,000 and was the lowest level since the week ended April 2006.

Expectations
The Consumer Price Index rose a smaller-than-expected 0.4 percent in April. Stephen Stanley, Chief Economist for RBS Greenwich Capital Markets, was quoted by MarketWatch as saying, “The moderation in housing costs ‘is one of the most significant developments on the inflation front in a long while.’ If the good news persists, ‘then core inflation will probably turn out better than we have projected’ and the Fed will have ‘more room to ease in the event that we are wrong ‘about the economy bouncing back.”

Guidance
Existing home sales in the first quarter were up 2.4 percent over the fourth quarter of last year. In addition, the average pace of mortgage applications for home purchases over the first two weeks in May was the strongest since January 2006. Conditions for home purchases are ideal. Capitalize on this exceptional season by seeking the assistance of Georgie.

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

Euro investors looking for real estate buying opportunities should look at NW Michigan where the turquoise waters remind you of the Islands and prices have slipped to historic lows in all categories of property.

If you are a Euro investor looking for a large commercial project designed to capitalize on the abundance of local recreational opportunities, invest in a vineyard, build a marina, build residential condos or build a commercial office building then NW Michigan and the Grand Traverse area should be on your Euro shopping list.

The Grand Traverse area was recently selected as the number two relocation destination in American. We specialize in dealing with International clients and strongly feel that for Euro buyers looking to capitalize on the exchange rate then this is the time and the place.

Authored by

Brent H. Nichols
Principle Associate Broker/Owner

Real estate that is purchased solely to generate income or to be sold when the value has appreciated.

Using this definition is its truest form you are purchasing this property to make money, that’s it! There are no secret gimmicks, formulas, or even a get rich quick scheme, if it was as easy as the real estate billionaires on the infomercials lead you to believe we would all be doing it. Remember these people are getting rich on programs they are “selling” to you.

I really like this “Buy and sell real estate and let the lender carry the tab with no money out of your pocket” believe that one and I have chunks of coal I want to sell you because in time they will turn into diamonds. “I guarantee it”

Lenders will take the risk with you but we’re not going it alone, we will take you with us. In other words, yes, you will have to spend some of your money too. How much depends on credit risk, the lesser the risk the less you have to put down and the better the rate. Ten to twenty percent is generally what you can expect, then it becomes how crafty you can get with the purchase agreement as to how much the seller is willing to participate.

International Realty Plus are highly trained professionals in real estate, they know how to present the deal to the sellers. The experts in how to buy and sell real estate are great at selling books, DVD’s, tapes, kits, and getting you to attend lectures, are they really that good? “Those that can, DO. Those that can’t TEACH” I know I heard that somewhere.

Authored by Guy Cole
Countrywide Home Loans
(231) 941-5767 ext. 226

Week of: Monday, April 30, 2007

Present Market Conditions
The Commerce Department reported Friday that the U.S. Gross Domestic Product slowed to 1.3 percent in the first quarter of the year. Growth was led by consumer spending, state and local government spending and business investments. Rising energy prices and a weak housing market slowed growth. In a separate communication, the Labor Department reported employment costs rose 0.8 percent in the same quarter with wages and salaries increasing 3.6 percent in the year ended March 2007.

Expectations
“From my perspective as a monetary policymaker, I would say that, in these circumstances, with heightened risks to both growth and inflation, the best course for policy is watchful waiting,” said Janet Yellen, the president of the San Francisco Fed. Yellen went on to say that she was sticking with her original forecast made at the beginning of the year that growth would pick up in the second half of the year, although she had reduced her forecast somewhat. The FOMC is due to release its next rate setting statement May 9th.

Guidance
Boosted by warmer weather, new home sales increased by 2.6 percent in March and applications for new mortgages rose last week for the first time in six weeks as mortgage rates dropped. This is the critical spring selling season. With these factors coupled with an abundance of homes on the market, it truly is an ideal time to be in “home buying” mode. Capitalize on this exceptional season by seeking the assistance of a qualified, professional Loan Officer (Georgie).

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

Week of: Monday, April 23, 2007

Present Market Conditions
The Labor Department reported U.S. consumer prices increased 0.6 percent in March which was the biggest increase since April 2006. However, growth in core prices, which excludes food and energy, was minimal with a mere 0.1 percent increase. Though cautious in their zeal, economists see this as good news in the fight against inflation. In a separate report, the Conference Board announced that its index of leading economic indicators rose by 0.1 percent in March following a two month decline.

Expectations
“If you like moderating inflation — the Fed probably does — then you’ll probably jump for joy over the inflation readings for the next few months,” said Ken Mayland, president of ClearView Economics. He went on to say that some large increases in core CPI last April and May will start dropping out of the year-over-year calculations. This will bring about increased confidence on the part of the Fed that inflation is under control.

Guidance
Construction on new homes increased 0.8 percent in March which may be an indication that builders are optimistic that the worst of the correction in the housing market is behind us. In addition, building permits increased and mortgage rates have decreased slightly. Capitalize on this exceptional opportunity by seeking the assistance of a qualified, professional Loan Officer.

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