From the monthly archives:

December 2006

I’ve Been Tagged

December 28, 2006

There’s a game going on in the blogosphere the equivalent of “Tag, You’re It!” Mortgage blogger, Dan Green, tagged me the other day and now I must tell you 5 things you may not know about me and tag others.

If they made a movie about my parents, Bridget Bardot would play my mother and Andy [...]

Read the full article →

Mortgage Insurance Premiums will be Deductible for Some in 2007

December 21, 2006

Here’s some good news that Diane Scholten, a mortgage consultant with Platinum Mortgage, passed along to me.
Yesterday President Bush signed into law the Tax Relief and Health Care Act of 2006. One provision will allow taxpaying homeowners with an adjusted gross income of $100,000 or less to fully deduct the cost of private or government [...]

Read the full article →

New Home Walkthrough for a William Ryan Home

December 20, 2006

Last week I attended the final walkthrough with one of my buyers for a new house in Orchard Prairie North a new development in the Aurora area. The walkthrough was conducted by a production manager, Tim, for William Ryan Homes. The walkthrough or “pre-closing orientation” as he called it lasted over 2 hours and was [...]

Read the full article →

Short Notice Showings

December 18, 2006

The home seller who wrote me last week about showing time windows, also wanted to know about showings that are scheduled on short notice.
I try to schedule showings for my buyers at least a day in advance, but that isn’t always possible. Several times I’ve driven by a home for sale and my buyer’s asked [...]

Read the full article →

Waterview Towers Luxury Condominiums

December 16, 2006

In today’s Chicago Tribune, Sharon Stangeness has an article on Waterview Towers, 233 luxury condominiums under development in Chicago’s Loop. One bedroom condos to full-floor penthouses are offered from $726,000 to $7,505,000 (base price). A self-park space is $50,500 and 2-car garages with storage are $150,000. Monthly assessments are from $525 to $5,731.
True to its [...]

Read the full article →

Showing Time Windows

December 14, 2006

A home seller wrote me yesterday asking about buyer agents who schedule a showing with a 2 to 3 hour window. For example, the agent asks to show a home sometime between 1 and 4 p.m. This is the first time I have heard of such a thing. When other agents have scheduled a [...]

Read the full article →

Zillow Overestimates House Value by Over 23%

December 11, 2006

Friday was the closing for 1103 S. Highland Ave. in Arlington Heights, a house that my buyers purchased for $585,000. I checked Zillow.Com’s “zestimate” today and found it to be $723,646, more than 23% higher!
How can Zillow be so off?
Bad data? You can’t blame it on bad data which is sometimes the case on Zillow. [...]

Read the full article →

Bring a Tape Measure to Your Home Inspection

December 9, 2006

Last Saturday a couple of my buyers attended their home inspection. The next day they went furniture shopping and realized they needed some measurements of the house before they could decide on the new furniture. The sellers graciously agreed to let my buyers come back to the house today to take measurements, but it’s an [...]

Read the full article →

Basic Financial Documents Needed for a Mortgage

December 8, 2006

I last blogged about bringing your financial documents, if you are relocating and might be buying a new home. Here are the basic financial documents needed before getting a mortgage or mortgage pre-approval. Additional documentation may be needed depending on your lender.
Federal W2 form for the past year
Pay stubs for the last 30 days
Bank [...]

Read the full article →

Bring Your Financial Documents, If You’re Relocating and Looking at New Homes

December 6, 2006

This past weekend I worked with buyers who are relocating from Virginia. They got a mortgage pre-approval well in advance of their trip here. However, they ended-up buying a new home from a developer who offered a $3,900 discount if they would use the developer’s lender. Not only was the discount enticing, but the lender’s [...]

Read the full article →

← Previous Entries