Julia Corkey & Vickie Schoenfeld

Home prices began to stabilize during 2009, and homes sales showed some signs of encouragement. We expect more of the same in 2010, although there will be some additional headwinds: higher rates and expiring tax incentives will likely create a lull during the summer months. After a modestly good start to the year, home prices could actually decline in some areas by 5% to 7% once the temporary stimulus expires. In the end, however, home prices should eventually and slowly begin to firm up toward the end of the year.

Welcome to 2010! Now is the time to buy or sell your home! Don't miss out!

www.HomesByTeamElite.com

• Radon is an invisible, odorless, tasteless radioactive gas.
• According to the US EPA, radon is the second leading cause of lung cancer in the United States.
• Radon comes from the natural breakdown of uranium and enters homes, schools and other buildings from the soil.
• Elevated indoor levels are found in every state in the US, and in every county in Illinois.
• Radon is by far the greatest single source of radiation exposure to the general public.

More Information

• Radon was discovered in 1900 by Frederich Dorn, who called it radium emanation. Radon gas has been known by its current name since 1923.
• Stanley Watras brought the radon issue to public attention in 1984. Mr Watras, a construction worker, entered Limmerick Nuclear Power Plant in Pottstown, Pennsylvania. There were no radioactive materials yet at the plant, but he set off the radiation monitors because of radon and radon progeny clinging to his clothing and skin. With Watras's urging, they decided to test his home for radiation contamination and found high levels of radon.
• The Watras case prompted a regional testing program and this information led the US EPA to launch advertising campaigns and, in 1986, pass the Indoor Air Quality Research Act. This Act prompted states to create their own radon programs.
• The Illinois state radon program is in the Illinois Emergency Management Agency. IEMA Division of Nuclear Safety provides information about radon to citizens of Illinois. IEMA DNS also requires those professionals who test and mitigate for radon be licensed. For more information about radon from IEMA DNS, call its toll-free voice recording at 1-800-324-1245.

Want your home tested for Radon call 1(877) 99-RADON or Visit www.Reliableradon.com

Updated facts on the Home Buyer Tax Credit:

http://www.homesbyteamelite.com/downloads/buyer-tax-credit-info.pdf

The FOMC (Federal Open Market Committee) and Chairman Ben Bernanke left the Fed Funds rate unchanged today - no surprise here.

However, they made a very important announcement: the Feds will stop buying U.S. Treasury securities by about the end of this October. What does that mean???

A huge reason mortgage rates have stayed so low has been because the U.S. gov't has been buying up Treasury securities for over a year now. The effect of the gov't buying these securities has been to keep the yields on the securities (ie: interest rates) lower. When the gov't stops buying, the yields will rise, which in turn means mortgage rates will begin to move upward (barring some huge disaster like 9/11).

Buyers be aware to get moving if you are waiting for a better rate because your going to miss what's infront of you!(And sellers who are looking to buy after their sale, but are holding out rather then lowering their asking price) that time is quickly running out on their opportunity to grab rates near 5% on a 30-year fixed rate.

Also remind your 1^st time homebuyers that they must close on their purchase prior to December 1, 2009 to qualify for the $8,000 tax credit.