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VOL. 117 | NO. 34 | Tuesday, February 18, 2003

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Real estate briefs 02-18-03

The Memphis Area Association of Realtors luncheon runs from 11:45 a.m. to 1 p.m. Wednesday at the Holiday Inn-University of Memphis, 3700 Central Ave.

The speaker is Dexter Muller Sr., vice president for infrastructure development for the Memphis Regional Chamber.

The luncheon is free, but no-shows and walk-ups will be charged $15. The luncheon is sponsored by AT&T Wireless. For more information, call 818-2444.

 

The Downtown Neighborhood Associations February membership meeting begins at 6:30 p.m. Thursday at Cayenne Moon, 94 Front St.

Shelby County Mayor A C Wharton is the guest speaker. For more information, call 527-3621 or visit www.memphisdna.org.

 

The Institute of Real Estate Managements luncheon starts at 11:30 a.m. Thursday at Wendells World Beat Grill, 414 S. Main St.

After lunch, the group will meet at 450 Mulberry St. for a tour of the National Civil Rights Museum.

The luncheon is free for CCIM members, and $20 for guests.

 

Nominations are now being accepted for National Association of Realtors directors from Tennessee. Nomination forms are due Feb. 24 and are available by contacting Carol Foote, 818-2433 or cfoote@maar.org.

 

Shelby County Trustee Bob Patterson has announced that Feb. 28 is the last day to pay 2002 county taxes. Under state law, beginning March 1, property taxes become delinquent, and penalty and interest accrue each month they go unpaid.

Tax payments can be made online at www.shelbycountytrustee.com. For information, call 521-1829.

 

In Freddie Mac's Primary Mortgage Market Survey, the 30-year, fixed-rate mortgage averaged 5.86 percent, with an average 0.6 points, for the week ended Feb. 14, down slightly from 5.88 percent the previous week. Last year at this time, the 30-year FRM averaged 6.86 percent.

The average for the 15-year FRM last week was 5.26 percent, with an average 0.6 points, dropping from the previous week's average of 5.27 percent. A year ago, the 15-year FRM averaged 6.35 percent.

One-year, Treasury-indexed, adjustable-rate mortgages averaged 3.89 percent last week, with an average of 0.7 points, unchanged for the third consecutive week. At this time last year, the one-year ARM averaged 4.98 percent.

 

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 23 23 1,365
MORTGAGES 21 21 1,068
FORECLOSURE NOTICES 6 6 196
BUILDING PERMITS 117 117 3,173
BANKRUPTCIES 42 42 795
BUSINESS LICENSES 2 2 331
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0