February 2006

Chicago and Suburban Buyer Property Transfer Taxes

February 28, 2006

Trying to decide whether to buy a home in the city of Chicago or in a suburb? One fact that tips the scales slightly in favor of the suburbs is the city of Chicago’s real estate transfer tax for buyers. Buyers in the city must pay $7.50 per $1000 paid. That means buyers of a Click to continue...

Home Buying/Selling From Contract to Closing

February 26, 2006

Today’s Chicago Tribune has a good article by Lew Sichelman on the home buying/selling process from signed sales contract to the closing. “Buying a house is a risk-filled road to final sale” is a good overview of all the steps that must be completed to actually close on a home sale. Since real estate laws Click to continue...

2005 3 Bedroom House Average Sale Prices – Park Ridge out to Barrington

February 25, 2006

Below is a data map of 2005 average sale prices for 3 bedroom houses in Park Ridge, Des Plaines, Mount Prospect, Arlington Heights, Palatine, and the Barrington area. The darker the green, the higher the price. Park Ridge had the highest average sale price of the group at $501,893. Neighboring Des Plaines has the lowest Click to continue...

Being a Full Service REALTOR® Can be a Challenge

February 23, 2006

Many of us in the real estate industry are committed to providing full service and even going above and beyond traditional service levels providing additional value-added services. I, for example, provide my sellers home staging assistance. This is a service that most listing agents would refer to a home staging company to be paid by Click to continue...

And You Thought Chicago Home Prices Were High!

February 22, 2006

Home prices in the Chicago area got you down? A new real estate blog will help make Chicago area prices look like bargains. Today I discovered, “America’s Most Overvalued Real Estate Markets“, a real estate blog that features “million dollar slums” and “crack house classics”. The blog is currently running a contest to find the Click to continue...

Norwood Park, a Dutch Colonial & Zillow Goes Crazy!

February 21, 2006

Today I worked on a market analysis for a very nice 3 bedroom 2 bath Dutch Colonial in the Norwood Park area of Chicago. Norwood Park is in the far northwest part of Chicago, west of Jefferson Park, south of Edison Park and the suburb of Niles, east of O’ Hare International Airport, and north Click to continue...

Take a Buyer Agent with You When You Visit New Construction

February 19, 2006

I got a call this morning from a couple wanting me to help them buy a new condo near the city. They were ready to make an offer this week. There’s just one problem, the condo developer won’t pay me a commission since the buyers had made their visit to the sales office without me. Click to continue...

Zillow Case Study – 17W322 Karban Rd., Oakbrook Terrace

February 18, 2006

This morning I was working on some marketing for my new listing at 17W322 Karban Rd in Oakbrook Terrace. I’m marketing it to builders since the lot size is nearly half an acre, one of the largest lots in Oakbrook Terrace. Lots of new large homes are being built in the area since a few Click to continue...

This is a Blog. A Blog is…

February 17, 2006

Today I was reminded that not everyone knows what a blog is. I was submitting this website to several search engines. One search engine initially rejected my submission because the website description contained the word “blog” which its dictionary didn’t recognize. So here’s a definition of a blog and a little bit about what I’m Click to continue...

It’s All In The Details

February 16, 2006

Don’t like keeping track of a million details? Then don’t go into real estate. Having previously worked in information technology, I’m used to making sure that all the i’s are dotted and the t’s are crossed. And yes, many of my friends would describe me as anal. Yet, listing a property even tests my abilities Click to continue...

Google & My Geometry Refresher

February 13, 2006

Today I actually used something I learned in school. Having completed 9 years of college (My parents said they would support me as long as I was in school. ) and countless corporate training classes, seminars and certifications, I have to say that I’m been disappointed in how little training I’ve been able to apply Click to continue...

Tips for Attending an Open House

February 12, 2006

Here are a few tips on how to make the most of attending open houses. Wear your poker face. If you fall in love with a house, don’t let the hosting REALTOR® (or anyone else) know it. If you end up making an offer on the home, you may weaken your negotiating position. Don’t stay Click to continue...

Zillow Fight!

February 11, 2006

I’m trying to keep an open mind about the new home value estimator, Zillow.Com, but I’m yet to be impressed. My friend, Erin, e-mailed me this morning and said she loved Zillow, but found some of the square footage data incorrect. It wasn’t adding first and second floor square footage. I entered addresses for several Click to continue...

Home Value Estimator, Zillow.Com, Beta Version Live

February 8, 2006

Want a free instant estimate of a home’s value? Starting today you can get value estimates for more than 60 million homes on Zillow.Com. Currently, only the beta version is available so expect improvements when the final version is released. Enter a home’s address and Zillow provides for free: an estimate of the home’s value Click to continue...

Be Wary of Dual Agency with Your REALTOR®

February 6, 2006

Today a new client asked me if there would be any issue in working with me since another REALTOR® had previous shown her some homes. She sent me a copy of a Designated Agency Disclosure which the other agent had her sign. It mostly said that the real estate agent was the designated agent for Click to continue...

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