Saint Croix Falls, WI

Here is a new update for agents and customers:

-- Fannie Mae (NYSE: FNM - News) today announced that it will reinstate a requirement for homeownership counseling and education for first-time homebuyers obtaining a MyCommunityMortgage® loan or a loan that relies on nontraditional credit to qualify. Effective January 1, 2009, the requirement is geared toward helping borrowers better assess their options and responsibilities both before and after they purchase a home.

In otherwards, agents, customers, originators all have to pay for the sins of others. Sorry!

Thanks,
Greg Adelman

Midwest Home Center LLC.
715-483-0012
612-735-4414 cell
612-395-5444 fax

www.midwesthomecenter.com

To all:

I know it's scary out there, but just a note to wish all a Happy and safe Halloween!

The markets are very volatile out there but with this uncertanty there is opportunity. I have found that in times like this that it only makes us stronger for the next challange that may arrive.

Thanks,
Greg Adelman

Midwest Home Center LLC.
715-483-0012
612-735-4414 cell
612-395-5444 fax

www.midwesthomecenter.com

The first phase of the Troubled Asset Relief Program is being put in place. The first $250 billion will be used to provide a voluntary capital purchase program to rebuild bank capital. Citibank, JP Morgan, Bank of America and Wells Fargo will all receive $25 billion.
Second the treasury announced plans to guaranty commercial paper and inter-bank funding. Banks that participate will be charged 0.75% to protect their debt issuances. (this means that the banks should start lending to one another again but the rates will be more expensive, which ultimately means loan rates will go up, but at least the markets will start lending again.)
Third, deposit institutions can now offer full deposit insurance coverage on non-interest bearing deposit transaction accounts. Regardless of the deposit amount. The FDIC had recently increased coverage to $250,000 but institutions that participate will be charged an additional 0.10% on top of their current FDIC insurance. (what this means is that 100% of the deposits in checking are covered. This is very good for businesses since they do not get paid interest on their checking accounts. Not so good for consumers because they would have to move their funds to a non-interest bearing account to get the 100% insurance coverage.)

Housing starts fell to 817,000 annualized units. September starts were well below expectations. They are well below their lowest level since 1991. Housing permits are also falling off more than 8% nationally.

Thanks,
Greg Adelman

Midwest Home Center LLC.
715-483-0012
612-735-4414 cell
612-395-5444 fax

www.midwesthomecenter.com

Fall is hands down my favorite time of the year. It is sunny here in St Croix Falls, Wisconsin this afternoon. Crimson, rust, gold, bright yellow, evergreen all blend to create an incredible palate of color! The changing colors of the leaves is set off by the shadowy, dark grey stone and rock that line the St Croix River. The cold, clear water matches the sky's bright blue. I hope that you can take the time to thank God and appreciate the simple things that life has to offer. Big time problems and worries surround us all these days. But so do the promise of a better future and these beautiful colors of fall! For now, I am not going to worry about my MS. Or the stock market, or budgets, or meds. Today, at this moment, it is wonderful to be alive!

Thanks,
Greg Adelman

Midwest Home Center LLC.
715-483-0012
612-735-4414 cell
612-395-5444 fax

www.midwesthomecenter.com

The fourth in our series highlighting American Dream homes for under $500,000 takes us to sweet homesteads in the nation's heartland

Writing about the Midwest of his boyhood in Life on the Mississippi, Mark Twain famously observed: "This region is new, so new that it may be said to be still in its babyhood... (O)ne may forecast what marvels it will do in the strength of its maturity."

This week we offer some of the marvels the Midwest offers in its 21st century maturity -- affordable luxurious houses. In our Affordable Homes series so far, we've visited the Northeast, the Northwest, and the Southeast. The fourth leg in our search for affordable American Dreams under $500,000 takes us to the Great Middle, bounded by the Appalachians to the East and the Great Plains to the West. As you'll see, the grand cities of the nation's industrial and agricultural heartland offer some of the most distinctive and beautiful homes on the market. Affordable? You betcha.

As with other regions of the country, some of the best buys can be found in smaller cities and towns. But like the Southeast, the Midwest offers plenty of value in its metropolitan areas, too. Whatever style you're looking for, when it comes to the heartland, there's truly no place like home.

Thanks,
Greg Adelman

Midwest Home Center LLC.
715-483-0012
612-735-4414 cell
612-395-5444 fax

www.midwesthomecenter.com