Open House Sunday!

One Bedroom condo in Carlyle Towers!
Hip, urban style describes this architect designed and decorated condo.
Lots of upgrades including wood floors, corian counters, built in shelves, custom designed sink and more.
All of the upgrades have been beautiful done. Attention has been paid to every detail.
Gorgeous view of the D.C. skyline and Masonic Temple.
Open Sunday October 2nd from 12-4pm.
Come on over and take a peak!
View this property and obtain directions at:

http://matrix.mris.com/Matrix/Public/Email.aspx?ID=9914182926

Money back for Nurses!

Are you a nurse looking to buy or sell?
Coldwell Banker has a program for you!
Just for being a nurse, Coldwell Banker will give you cash back at settlement (up to $1700) just for using our 'HomeCare' program.

You will also benefit from other discounts made available such as
*No lender fee with our "Coldwell Banker Mortgage"
*Discount on moving your things interstate
*Discounts on combinded Homeowner and Auto insurance.
*And more!

Email me today to learn about this program!
JStoltzfoos@cbmove.com

Only qualified if you have not met with or signed a contract with a Realtor.

Mortgage Rates Today

The 30-year fixed-rate mortgage (FRM) averaged 5.91 percent this week, up from last week's 5.80 percent. Last year at this time, the 30-year FRM stood at 5.72 percent.



The average for the 15-year FRM moved up to 5.48 percent compared to last week when it averaged 5.37 percent. A year ago, the 15-year FRM averaged 5.12 percent.



Five-year Treasury-indexed hybrid (5/1) ARMs also rose, climbing to 5.44 percent this week compared to last week's 5.31 percent average.

Home Warranty, is it worth it?

One of the last things you want to worry about your first year or so of home ownership is the repair of home appliances. No matter how old or young the appliances in your home may be, repairs and replacements could be just around the corner. A home warranty covers most if not all the costs to put your appliances back in working order. The cost of the Coldwell Home Protection plan starts at $399 for one year.

These are not only useful for buyers but for sellers as well. What an advantage for a buyer to purchase a home that is already covered by a home warranty!

For anyone in the purchasing or selling process of real estate I would encourage you to put some serious thought into a home warranty.

To learn more about home warranties and exclusively the Coldwell Banker Home Protection plan go to:

http://www.cbmove.com/services/HomeWarranty.aspx?si=2&ssi=9&ab=1&AgentID=7087&mp=0

Monthly Mortgage: How much will it be?

How much house can you afford?
What is the monthly payment on a house with a specific sales price?
How much house can you afford with a specific monthly payment?
How much is your monthly payment?
Should you refinance?

Use the mortgage calculator link (on the side bar) provided by Fannie Mae to easily and quickly answer these questions. Once you know where you stand financially, we can begin your property search or get you going for your refinance.
http://www.fanniemae.com/homebuyers/calculators/index.jhtml?p=Resources&s=Calculators

Don't forget the Mortgage (article review)

Betting on the Right Loan
Buyers Looking Only for the Lowest Payment Could Be Gambling With Their Future

By Sandra Fleishman
Washington Post Staff Writer
Saturday, September 3, 2005; Page F01

This article is a wonderful reminder that the loan decision is a very important one that can be easily pushed aside admist the home buying excitement. Once the ink on the contract is dry you can easily change the paint color in the kitchen. It will be a little more expensive to change your loan package early in your ownership.

Fleishman reviews several different loans including interest only, option ARM and 40yr mortgage. Research is a key part in deciding which loan is best for you. Speaking with an expirienced loan officer can help you make an informed decision.

If you are in the begining stages of buying a home I would encourage you to review this article. It offers a good overview of the current loan market. As always, I am available to refer you to a loan officer to help educate you on what

To view this article online use this address:
http://www.washingtonpost.com/wp-dyn/content/article/2005/09/02/AR2005090201148.html

Todays Mortgage Rates

For the week ending September 1st, the Mortgage rates were:
30yr 5.71%
15yr 5.32%
1yr 4.48%
5/1 ARM 5.30%

Katrina affects Mortgage rates

An estimated 200,000 homes in New Orleans alone may have been or will have to be demolished as a result of Katrina. That is as many as were destroyed in all four major hurricanes last year. Then there is the damage along the hundreds of miles of coastline.
As a result:
*Demand for contractors and repair services will be enormous for months, if not years, to come.
*Building materials are almost certain to face shortages which will inevitably lead to higher prices.
*Energy costs are likely to remain high for some time to come.

The "experts" are already debating the affect on the economy. Perhaps the first indicator appeared with the substantial rise in bond prices late last week

Frank Nothaft, vice president and chief economist at Freddie Mac said, "Market jitters about high energy costs and the spill over into other sectors of the economy have led to a decline in bond yields, which typically means lower mortgage rates. Speculation that the Federal Reserve may soon take a break in raising short-term rates reduces upward pressure on long- and short-term interest rates." As to the future, he added, "As if all that wasn't enough, the devastation caused by Hurricane Katrina and the echo effects on future energy prices in the US may mean that mortgage rates will fall even further in the coming days ahead."

Preferred Mortgage, Bobbi Dickerson