HAPPY THANKSGIVING!!!

Okay, the snow can melt now. I'm already over it! My mom and dad left me at grandma's house while they ran off to warmer weather....AGAIN! Who do they think they are anyway?!?
Can you believe it's less than a month now until Christmas?!? Wow, how time flies!
However, tomorrow is Thanksgiving. Take time to be with family and friends and be thankful for all the blessings we have. I'm thankful for all the treats that grandpa is going to give me while I'm at their house and thankful that I didn't have to take any stupid new pictures for my blog! AND....I'm very thankful for my mom and dad!!

Have a wonderful Thanksgiving!

I AM as miserable as I look!

Here's the latest........

Home sales in Winnebago County continue to slump
By Larry Avila • for The Northwestern • November 19, 2008

Home sales in Winnebago County were down 13 percent between July and September, slightly better than the statewide drop of 16.7 percent compared to last year.
The county joined most of northeast Wisconsin in a continuing home sales slide, according to data released Tuesday by the Wisconsin Realtors Association.
K.C. Maurer, with ReMax 24/7 in Appleton, said the Northeast Wisconsin MLS region logged 7,363 sales between January and September, down from 8,614 the same time last year.
"The (Multiple Listing Service) third quarter number (for northeast Wisconsin) is down 14.5 percent year-to-date," he said. "We still saw a lot of transactions, but it is down."
Winnebago County reported 423 sales, down 13 percent from 486 in 2007. Outagamie County logged 430 sales, down 18.4 percent from 527 a year ago, and Waupaca County recorded 116 transactions, down 25.6 percent from 156 last year.
Still, there were some bright spots.
Calumet County was among a dozen counties in Wisconsin that reported sales gains. A total of 109 homes were sold during the third quarter in Calumet County, a 4.8 percent increase from the same time a year ago when 104 homes sold.
Real estate experts could not pinpoint why some counties across the state saw gains in existing home sales between July and September, though no one is complaining.
"I cannot point to any single event," Maurer said.
David Clark, economist for C3 Statistical Solutions in Milwaukee, whose firm works with WRA in compiling sales data, said buyers still are sitting on the sidelines.
"Our belief is that it's the economy right now," he said. "Sellers are motivated but consumers are being cautious."
Maurer said while trends show sales are down, the data is showing some signs of improvement.
"Every month this year, the year-to-date numbers get a little better," he said. "None the less, they still are negative. The turnaround is slow in coming, but at least the slide is not continuing in the wrong direction and it seems like it's starting to turn in the right direction."

You Can't Be Serious?!?!

Well my mom is pretty discouraged today after reading a housing market prediction for 2009 in Money Market Magazine. Yes, she knows that this is just one prediction out of many but after such a tumultuous two years more bad news is pretty depressing.

My mom works really hard for her sellers and will continue to do so. Things with the housing market will eventually turn around. We all need to stay positive and encouraged!

Forecast 2009: Your Home
By Stephen Gandel, Money Magazine
Nov 11th, 2008
(Money Magazine) -- Forget the old saw that all real estate is local. What's pummeling housing prices in your nabe is the same thing that's hurting them around the country: the credit crisis.
You know the drill - banks' troubles have made it harder for many home buyers to get mortgages and those who do qualify have to pay more. A borrower with good credit and a 20% down payment recently got charged an interest rate of 6.7%, on average, according to HSH Associates.
It's true that this rate is not historically high (rates often surpassed 9% in the early 1990s). But it's more than the 6.2% that the same borrower would have paid at the beginning of 2008.
The fact that mortgage rates have remained stubbornly elevated despite the government takeover of Fannie Mae and Freddie Mac leads some experts to believe that those rates are not headed down anytime soon.
Then look at the fact that 18.6 million homes in this country are now sitting vacant, more than at any other time since the Census Bureau began tracking that figure in the 1960s. And that 2.8% of U.S. mortgage loans are now at least three months in arrears, up from 1.4% a year ago. That rate is projected to peak in early 2009.
But if a recession lasts for three-quarters of the year, as some economists are predicting, the number of foreclosures could remain high longer. Add it all up and you have another lousy year for real estate.
Home prices are down 20% nationwide since their peak in July 2006, according to the S&P/Case-Shiller home price index. Economist Nouriel Roubini of New York University, who accurately predicted the housing slide and credit crisis, expects another 20% decline in home prices next year. Patrick Newport of economic forecasting firm Global Insight projects a 15% drop.
The damage will likely hit even areas that have so far escaped many problems, such as New York City. "We don't see the market turning until late 2009," says Newport.
The wild card:
· How much home values fall early in the year
If they go so low that investors can start renting out homes for enough to cover their mortgage payments, we could see a wave of people snapping up bargain houses in 2009 - which could push prices higher by the time the next 12 months draw to a close.
Lawrence Yun, chief economist of the perpetually optimistic National Association of Realtors, says he expects prices to rise 2.8% in 2009.

Elections Over...Now What?

As my mom has been out and about enjoying this weather I've been the one left to work around this joint. Ugh....

Now that we have elected a new president, like it or not, I'm hearing that the economy and housing market are going to start a slow recovery. This recession has been hard on all of us. I have certainly been seeing a lot less of my mom and dad because they're working hard and longer hours (even though my mom is out horsing around now while I'm working).

I wanted to pass along some encouraging information that I heard from a local mortgage expert here in town. She knows her stuff and has really been a help to my mom by keeping her posted on the latest news in the mortgage world.

"The U.S. should be braced for more financial changes in the upcoming months and into 2009. The changes that have occurred already and future ones are both frustrating, but necessary. We have seen a cleansing of the mortgage environment by stricter underwriting guidelines and elimination of "riskier" type loan products. So even though it is more difficult to obtain financing, monies are readily available to more traditional borrowers. This includes minimal down payment. Overall the mortgage industry will continue to be healthy and make home purchasing affordable so indications are that 2009 should be a productive year. "

Michelle O'Mahoney

M&I Marshall & Ilsley Bank

Mortgage Banker

920-236-6927 Direct

20-236-6925 Fax

20-229-7936 Mobile

Now let's turn this market around and go buy and sell some houses!!!!!

I'm off to go find my mother.......................

McCain or Obama????

Well tomorrow is the big day....election day. We live in such a great country with the freedom and right to vote. Please exercise those rights by voting tomorrow. Polling places open at 7 a.m. and close at 8 p.m. If you're not sure where to vote I have attached a link for all polling locations in Winnebago County.

http://www.co.winnebago.wi.us/countyclerk/PollingPlaces.pdf

Regardless of who wins, one thing I do know is that those annoying automated political calls will stop!! Thank goodness...it's about to drive my mom and dad nuts!