BLOOMINGTON - Losing a car key and hanging on to a high-interest home loan can be expensive. | Pantagraph's New Economy series

And with most people cutting their spending, property appraisers and locksmiths are helping people hold onto their money.

Lower interest rates are an incentive for homeowners to refinance loans or to buy houses instead of rent. Either way, an appraiser must estimate of the value of the property. Low rates, warmer weather and a sense the economy may be improving are credited with a bump in appraisal requests, said Teresa Adelsberger, owner of Associated Appraisals in Normal.

"We've been very busy across the board. The spring selling season started earlier this year," said Adelsberger.

Starting last month, the gap began to narrow between appraisals for new homes and refinancing application, she said. Buyers and sellers are actively looking for interested parties.

"Basically, there's optimism about the market," she said.

Safeguarding property

Once in their new - or newly refinanced - homes, owners want to safeguard their property with padlocks, said Randy Richards, vice president of Langhoff & Co. Locksmiths, Bloomington.

With more people looking to make a quick buck, some crime is on the upswing and people want to protect their property.

Richards also has seen an increase in the number of people shopping around for locksmith services related to lost vehicle keys. He's seen a shift in people's priorities.

"I find I'm repairing more old stuff than replacing new," said Richards.

"I won't say that I've profited from the economy but I haven't seen any decline," he said.