National Market Trends
The Wall Street Journal recently reported that home sales have slowed.  The National Association of Realtors' index for pending sales of existing homes decreased at a seasonally adjusted annual rate of 7.0% to 105.6 from June's 113.5, the industry group said Friday. July's index level is the lowest since February 2003, when it was 99.3. And July's index reading was 16.0% below the level of July 2005.

David Lereah, NAR's chief economist, said the year-to-year numbers have been a good predictor of the actual pace of home sales.

"Based on recent changes from a year ago, the index shows existing-home sales should continue to ease after a stronger-than-expected decline in July, but are likely to flatten in the months ahead," Mr. Lereah said in a statement.

"Psychological factors are causing some buyers to remain on the sidelines, waiting for prices to stabilize or for more favorable news about the market and the the end we believe that underlying market fundamentals will prevail," Mr. Lereah added.

As the tide turns in many areas, buyers should be on the lookout for great deals from motivated sellers!


Insurance Check-Up

When purchasing a home, you will need to acquire homeowners insurance. In fact, all lenders will require a policy be in force prior to funding the loan. Make sure you have enough coverage, should anything happen. Policies refer to "replacement costs" that may not cover everything.

You should ask your insurance agent a lot of "what if" questions. The deductible amount also plays a big part in setting your premium. Higher deductibles lower the number of claims, and reduce your insurance costs.

Check with your insurance agent for more information on these issues, and any others. If you don't have an insurance agent, we have access to several top-notch agents we can refer you to with agents we can refer you to with confidence.