July 2006

Chicago Real Estate a “Fair Value”

July 29, 2006

CNNMoney.Com reported this week that real estate research group Local Market Monitor determined that real estate in Chicago is a “fair value” in contrast to many other markets. Analysts compared the selling prices of homes in 100 major markets to “equilibrium” values derived from local economic and population growth, construction costs, vacancy rates, area household Click to continue...

Empty Beer Bottles Don’t Cut it as a Home Staging Accessory

July 28, 2006

The photo to the right is from a house in Vernon Hills priced over $300K, I showed to buyers last week. The dishes in the sink are bad enough, but the case of empty Corona Beer Bottles on the countertop is the crowning touch for a kitchen already short on countertop space. Attractive bottles of Click to continue...

Naperville #2 Small City According to Money Magazine

July 26, 2006

Topped only by Fort Collins, CO, Chicago suburb, Naperville, was deemed the 2nd best U.S. small city to live in by the editors of Money Magazine. Read “Best Places to Live 2006” for the details. Click to continue...

Life’s Ups & Downs

July 23, 2006

One of the things I like most about being a Realtor® is delivering news that makes people happy. Buying and selling a home is an emotional decision and often clients react strongly to news such as “You have an offer on your home!” or “Your offer was accepted!” One of the things I like least Click to continue...

Buyer Tip – Don’t Bug the Seller

July 19, 2006

It appears that it isn’t only buyer agents who commit faux pauxs by contacting sellers directly. (See my previous post.) This week a buyer who knew a Norwood Park property was listed with me and even had his own agent called one of the sellers directly. One of the reasons sellers list their property with Click to continue...

The Only Realtor You Should Talk to is Your Own

July 16, 2006

Yesterday another Realtor committed a major faux paux. He called one of my sellers directly. In a transaction, an agent should never contact the other agent’s client without permission. To protect clients’ interests, communication should always go through the agents. If you are a buyer and a seller’s agent contacts you, direct him or her Click to continue...

6 Bedrooms & 4+ Baths???

July 14, 2006

I just had to stop and take pictures while driving to meet a client in the Barrington Area a couple of days ago. The humble abode shown is certainly not your typical Barrington property. However, I was especially struck by the for sale by owner sign in front of it. 6 bedrooms & 4+ baths??? Click to continue...

Luxury in Downtown Chicago

July 12, 2006

The other night I was searching for a luxury home in the $2.5 to $3 million range for a client who wants to live in downtown Chicago so I started searching the Loop and Near North Side areas of Chicago. The Loop area is bordered on the south by Roosevelt Rd (south end of Grant Click to continue...

A Really Open House

July 10, 2006

Yesterday I went to an open house in the Norwood Park area of Chicago to view a house that one of my upcoming listings will be competing with. The front door was open, so I walked into the house only to find no one there! I proceeded to walk through the house. By the time Click to continue...

For Sale By Owner Market Softens

July 8, 2006

Adding more evidence that it’s no longer a sellers market, Bernice Ross reported in Chicago Agent Magazine that the web traffic for ForSaleByOwner.Com has dropped significantly from last year. Based on data from Alexa.com which tracks web traffic, the number of unique visitors to ForSaleByOwner.Com dropped 60% from May 2005 to May 2006. Click to continue...

The Barringtons

July 7, 2006

Yesterday I worked on a market analysis for a home in Lake Barrington which is one of the 6 towns in the Barrington Area. Below are average sale prices1 over the past year for 3 and 4 bedroom houses in those towns. Waterfront homes are excluded. What I find most interesting is that all of Click to continue...

Homes with Fairy Doors

July 3, 2006

There’s a fun post on the NY Times Blog (The Walk-Through) titled, “Fairyland Real Estate“. It will take you to pictures and stories about homes with “…tiny doorways that tinier fantasy creatures can use to enter their world or exit ours.” How these affect resale value, I have yet to determine! Click to continue...