October 2006

If You Are a Single Home Buyer, You Are Not Alone

October 26, 2006

Single men and women were 30% of the home buying market in 2005 according to the National Association of Realtors. I find it interesting that women were 70% of single buyers while men were only 30%. You would think with men making more money than women, that the number would be the other way around. Click to continue...

Higher Property Taxes Mean Lower Offers!

October 25, 2006

I was searching for condos along the east side of Schaumburg this morning when I noticed that comparable units in the same development have significantly different property taxes. Even allowing for homeowner and senior exemptions, some condos have property taxes 60% higher than other comparable condos in the same development! Homes with significantly higher property Click to continue...

How to Get More out of Your New Home Walk Through

October 23, 2006

Ardell DellaLoggia who writes for the Seattle real estate blog, RainCityGuide.Com, has a good tip for new construction buyers. She suggests bring your own blue tape to the walk through for marking items that need repair or a credit. That way, you won’t be dependent on the builder’s rep to mark items. Check out her Click to continue...

How Your Earnest Money is Delivered Can Make a Difference

October 21, 2006

A couple of weeks ago the seller for a listing I have in the Hermosa area of Chicago and a couple of buyers reached a verbal agreement for the sale of the house. The buyers’ agent got the buyers’ initials on changes to the initial offer and their check for earnest money. What typically happens Click to continue...

A Picture is Worth a 1,000 Words. In Real Estate it’s Worth Even More.

October 19, 2006

Last night I met with a couple interested in selling their condo in Addison and moving up to a house. They have a very attractive home that needs little home staging. They had their condo on the market over a year ago with another Realtor, but it had only a dozen or so showings over Click to continue...

Mr. & Mrs. Too Much Home Buyer Video

October 17, 2006

With Google’s acquistion of YouTube.Com last week, I decided it was time to add some video to this blog. Enjoy! Click to continue...

Lake Michigan Water for Prospect Heights?

October 15, 2006

Yesterday afternoon I showed a couple of buyers houses in Arlington Heights and Prospect Heights. One of the homes (shown right) is a new home a short walk to downtown Arlington Heights offered at $949,900. Prospect Heights is a small suburb just east of Arlington Heights, but you might have heard it mentioned in the Click to continue...

Downtown Chicago New Condo Market Still Strong

October 11, 2006

If you’re looking for more information on Chicago’s downtown new condo market, YoChicago.Com has an article by Don DeBat covering the market from top to bottom,”Chicago market defies housing bubble but ultra-luxury sales are slowing down“. At the top is the ultra-luxury market defined at $700/sf on up. So a 1,000 sf. condo in this Click to continue...

Understand the Contingencies When Negotiating an Offer

October 10, 2006

Recently some clients of mine made an offer on a new 2 bedroom condo in the Sheridan Park neighborhood of the Uptown area of Chicago. Sheridan Park is bordered by Lawrence and Montrose on the north and south and Broadway and Clark on the east and west. The offer was contingent on the buyers selling Click to continue...

Dirty Laundry

October 9, 2006

Saturday’s Chicago Tribune Business Section had an interesting article on home staging titled, “Stagers enter home sale scene” by Mary Umberger. The owners of a Lindenhurst home I showed on Sunday need some staging assistance. The photo on the right shows how their laundry area looked when my buyer and I visited. Even if they Click to continue...

Governor’s Property Tax Assessment Shines a Light on Assessment Confusion Part 2

October 6, 2006

Yesterday in Part 1 of this post, I wrote about the mystery of the Cook County Property Assessment Process. Adding to the confusion of property assessments is the fact that the assessments contain a lot of erroneous data. That’s one of the reasons why automated home valuation systems such as Zillow.Com are so often off Click to continue...

Governor’s Property Tax Assessment Controversy Shines a Light on Assessment Confusion Part 1

October 5, 2006

Chicago Tribune Columnist, Eric Zorn, has an interesting column today titled, “Political claims + property taxes = big confusion“, regarding the controversy over Governor Rod Blagojevich’s property tax assessment. The Governor has a home in Ravenswood Manor, a neighborhood within the Albany Park area of Chicago. Ravenswood Manor is a very nice neighborhood bordered by Click to continue...

Median Price of Suburban Homes Climbs up to 39% Over Past 5 Years

October 3, 2006

Today’s Daily Herald reported that median home values across Chicago’s suburbs rose between 26% and 39% between 2000 and 2005. Below is the U.S. Census Bureau data by county. County 2005 Median Home Value % Increase from 2000 Cook $241,800 38.2% Du Page $295,500 39.0% Kane $229,100 28.1% Lake $271,700 25.1% McHenry $239,100 26.0% Click to continue...

Disappointment in Naperville

October 2, 2006

The timing of events in life can see rather cruel at times. Last Wednesday I wrote about my buyers who had to submit their “highest and best” offer on a home in Naperville. On Thursday we learned that the seller selected their offer over the other offer. Thursday night the buyers and I met to Click to continue...

PetServicesReview.Com

October 1, 2006

A couple of my buyers who moved from Evanston to the Grayslake area have a dog, Katie. They noticed that the sellers had dogs and asked me to ask through the listing agent for recommendations for a vet in the Grayslake area. I have a few friends in the Grayslake area (yes, I have friends, Click to continue...