From the monthly archives:

August 2008

See Chicago Neighborhood Views on Google Maps!

August 29, 2008

If you’ve found a home for sale that looks great online, but you’re curious about its immediate neighborhood, Google Maps may have the views you’re looking for! The blue areas in the map below show that street level views are available for most of the city of Chicago and are expanding out into much of [...]

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Many Home Buyers Expect Market to Improve with New President

August 26, 2008

44% of all home buyers believe the housing market will improve once the new President takes office in January, 2009 according to a recent survey for Move, Inc. by Harris International. Move, Inc. runs Realtor.com.
The survey also revealed that 80% of all renters plan to purchase a home someday with 47% planning to purchase a [...]

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IRS Capital Gains Exclusion Less Now, If You Rent Your Home

August 23, 2008

Mortgage blogger Dan Green brings to light a little publicized impact of the Housing and Economic Recovery Act of 2008 in his recent post, “With The New Housing Law, The $250,000/$500,000 Capital Gains Exclusion Is Gone“. This is a must read, if you are considering renting out your primary residence!
Similar Posts:

Fannie Mae Downpayment Requirements Raised
A [...]

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How a Buyer Agent Can Blow a Deal

August 20, 2008

Recently a home buyer lost out on a great condo in Lincoln Park, not because he didn’t have the best offer, but because his buyer agent was too obnoxious with the seller who wasn’t represented by a listing agent.
One of the sellers called me for advice on how to handle a multiple offer situation. Two [...]

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Carol Stream Noted for Affordable Housing and Good Schools

August 16, 2008

Yesterday two of my buyers closed on a lovely home in Carol Stream’s Shining Waters Subdivision. Shown left is a view from their waterfront back yard.
Recently Carol Stream caught the attention of Move Inc. which operates Realtor.com. According to their press release, “home buyers are less likely to compromise on school quality than on being [...]

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Highland Park House Prices Up or Down Depending on Lot Size

August 14, 2008

Recently I showed houses in Highland Park to a couple who first visited Highland Park with me a year ago almost to the day. Depending on how you look at the data, the Highland Park real estate market has been flat or significantly up or down in the past year.
The median sale price of Highland [...]

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Large Lots in Glen Ellyn & Lombard

August 10, 2008

Yesterday I showed houses in Glen Ellyn and Lombard to buyers looking for an older house on a large lot. The price differences between Glen Ellyn and Lombard were obvious. The houses we looked at in the $400K to $450K range had much more updating in Lombard than in Glen Ellyn.
The median sale price for [...]

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Fun Neighbors in Prospect Heights

August 5, 2008

It’s good to check out neighboring homes when looking at houses for sale. While looking at houses in the northwest suburb of Prospect Heights on Saturday, my buyers and I couldn’t help but notice the underwear hanging from the front of one neighboring house.
While Prospect Heights is known for its country-like feel with large lots [...]

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Down Payment Assistance Programs Eliminated October 1st

August 2, 2008

On Tuesday the President signed H.R. 3221 Housing and Economic Recovery Act of 2008 into law.
This wide sweeping legislation addresses a variety of housing related issues. Among the reforms in the legislation is the elimination of down payment assistance programs. The new law requires a cash investment on the [...]

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