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Featured Advisor

Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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Existing Home Sales Sag in September

It would take more than 8 months to sell the supply

| BY Adriana Reyneri

Sales of existing homes dropped 3 percent in September, according to a report released today by the National Association of Realtors. Sales fell to a seasonally adjusted annual rate of 4.91 million. The decline is attributed to a 3.6 percent dip in single-family homes that offsets a 1.9 percent rise in condos. It would take 8.5 months to sell these homes. Total sales in 2010 were 4.91 million, compared to a peak of 7.07 million in mid-2005.  Existing home sales represent the number of previously constructed homes, condominium and co-ops in which a sale closed during the month. Existing homes comprise a larger share of the market than new homes and indicate housing market trends.   A report released yesterday by the Commerce Department found that uilders began work on 658,000 houses, a 15 percent increase from August, Multifamily starts rose to the highest since October 2008. Building permits, though, an indicator of future construction, declined to a five-month low, indicating that foreclosures are adding to the supply of unsold homes and bringing down property values, Bloomberg reported.