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                            Home Sellers Question on Trulia.

Dear M Rubbo,

There are a few questions to ask you for us to provide helpful information.

First, what price range are you considering for your home. Currently, if you would list in the $200-400,000 price range, there is only a 6 month inventory of homes for sale. This is a balanced or seller’s market. If your home is in the $400,000 and up range, there is currently an 18 month inventory of homes for sale. This is definitely a buyer’s market.

Here are the links to both price ranges:

$200-400,000 Price Range

$400,000 and up
Reports can be refined to give you answers that are specific to your community. We can use radius searches that will give you results from from 1/4 mile and greater.

Whether you utilize our services or not, we hope that you will hire a Realtor(R) to assist you in your efforts. The market tools we utilize enable us to give you the information you need to make a good decision.

Many Blessings,
Jim & Joan

PS. Your question will soon be posted on our website.

Don’t wait!!!       Contact us today:          440-708-0561

Jim & Joan Norbuta, Realtor®
ACCREDITED BUYERS REPRESENTATIVE

RE/MAX TRADITIONS
RE/MAX RELOCATION
OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®

Working to serve you in the Greater Cleveland communities of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.

Tame inflation data helped mortgage rates move lower early in the week, but stronger than expected economic data turned them higher later in the week, leaving mortgage rates nearly unchanged from last week. The announcement of larger than expected Treasury auctions next week ($104 billion) also was negative for mortgage rates.

This week’s Consumer Price Index (CPI) and Producer Price Index (PPI) data indicated that inflation is not a concern in the short-term. A significant decline in energy prices from one year ago resulted in a very low overall annual inflation rate. Even Core CPI, which excludes food and energy, rose at a tame 1.8% annual rate. However, the benefits from the favorable inflation news was offset by stronger than expected economic growth data. In particular, the Philadelphia Fed manufacturing index showed surprising improvement. In addition, May Housing Starts rose 17% from April, while Building Permits, a leading indicator of future activity, also exceeded expectations. This week’s data sets the stage for next week’s Fed meeting. With inflation currently low but at risk of increasing if the economy continues to improve, the Fed may be reluctant to introduce more stimulus, opting instead to wait and see how the economy performs.

President Obama this week proposed broad new rules for regulating the financial system. One proposal under the Obama plan would create a consumer protection agency which would have the authority to set rules for the mortgage industry. The details may not be known for quite a while, as the plan now faces a lengthy debate in Congress.

Also Notable:

• The -1.3% decline in CPI from one year earlier was the largest annual decline since 1950
• Continuing Jobless Claims fell for the first time in twenty weeks
• The Fed’s Bullard predicted that the economy will begin to improve during the third quarter
• The Fed purchased $20 billion in agency MBS during the week ending 6/17

Weekly Mortgage Update Courtesy Of:

Darrin L. Kresevic, Sr. V.P., Loan Officer, LPO Manager

First Place Bank          440 349 7550

6150 Enterprise Parkway – Solon Ohio 44139

Assistant – Janice Zabish Direct – 440 349 7562

Lending seventeen years of Mortgage Banking experience

To reach Darrin and many other outstanding business people in our community,

please look at our website:          business and services section