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Rates Rise

In Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.15 percent, with an average 0.5 point, for the week ending October 27, 2005. Last year at this time, the 30-year FRM averaged 5.64 percent.
"Although home sales were still impressive in September, mortgage applications in October seem to be tapering off a bit, due in large part to slowly rising interest rates," said Frank Nothaft, Freddie Mac vice president and chief economist.

Mortgage Rates

Source: Realty Times

U.S. averages as of October 27, 2005:

30 yr. fixed:   6.15%
15 yr. fixed:   5.69%
1 yr. adj:        4.91%

"Refinancing is going to take the biggest hit as mortgage rates tick up. Refinancing comprised about 40 percent or more of the total volume of mortgage originations over the last 13 months."

Garages Aren't Just
For Cars Anymore

    Nearly two-thirds of all new homes have two-car garages while 19% have three-car garages, leaving only about 15% with one-car garages or none at all, according to the National Association of Home Builders (NAHB).
     The growth in demand for larger garages coincides with NAHB's consumer preferences findings -- home buyers want more space, not necessarily the traditional larger, more-house kind of space, but better defined, more usable, specialized spaces.
     It's no wonder garage remodeling and organizing will be an estimated $2.5 billion business this year, according to the NAHB.

Pack Away Kids'
Moving Blues

    Buying a new home can be very exciting for adults, but it can evoke a whole lot of fear in children. Helping children understand the reason for the move will help pack away kids' moving blues. Some 10 million school-age children move each year in America, according to Gabriel Davis, author of The Moving Book: A Kid's Survival Guide.
     She writes about activities that give children a little extra attention to help them better handle a move.
     Davis recommends getting kids involved as soon as possible. "Start to talk about it in a really positive way and that's going to help the kids to have a positive picture in their minds of the move."

Create A Grand Entrance When Showing Your House

    If you're selling your house, you've probably heard all about curb appeal. Once that first impression passes the test, the next thing that meets the eyes of potential buyers is the entryway.
     Don't underestimate the importance of the entrance to your home. It helps define the quality of your property when people enter.
     If your entrance exudes richness, buyers will think of your home as a rich property and be prepared to make offers accordingly.
     Cathy Whitlock, an interior designer in Nashville, Tenn., offers some general entryway decorating tips on the Home and Garden Television website -- tips that can help make your home more attractive to those picky buyers out there. They include:

Add plants. Ficus trees are good for traditional d�cor; palm trees are a good fit for contemporary.

Throw an area rug on the floor.

Use a chest or console table to anchor the area.
Display a favorite collection or a lamp. Hang a picture or mirror above the table.

Paint a shade of yellow. It goes with everything so it's a good choice for an entryway.
The entrance serves as the transition from outdoors to indoors and can leave an indelible impression in the mind of a potential buyer.

Equal Housing
Opportunity

Terry Denoux, P.C. Broker, GRI
Cellular: (541) 350-2921
Web: http://www.gobend.com
E-mail: terryd@gobend.com

RE/MAX Equity Group
235 SE Wilson Ave.
Bend, OR 97702

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