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 Click to continue...

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 Click to continue...

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 Click to continue...

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 Click to continue...

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 Click to continue...

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 Click to continue...

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 Click to continue...

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 Click to continue...

A Victorian House in Aurora’s East Side Historical District

December 4, 2006

This weekend I showed houses in the Aurora area. One of the most memorable houses was the Victorian shown left located in the Aurora East Side Historical District. Built in 1990 the home was a treat to view with its well maintained original woodwork including several built-ins, stain glass windows, and a huge walk-up attic. Click to continue...