February 2009

Survived a Badly Staged Home in Lake Zurich, IL

February 28, 2009

This morning I showed houses in the northwest suburbs including a badly staged house in Lake Zurich. Yes, the fake bread and cheese shown left greeted my buyers and I was we walked into the kitchen. Of course, there was also a bowl of small fake fruit on the counter. I understand that not all Click to continue...

4 Bedroom Condos Appreciating Better Than 3 Bedrooms in Lakeview, Chicago

February 27, 2009

This afternoon I showed 3 bedroom & 4 bedroom condos in the Lakeview area of Chicago. Now median sale prices are a rough measure at best of what’s going on in a market, but 4 bedroom condos have definitely appreciated better in Lakeview over the past 3 years than 3 bedroom condos have when you Click to continue...

When Looking at Homes Online Try to Notice What Isn’t Shown

February 24, 2009

This morning I looked at the listing for a house in Lakeview that clients said they were interested in. Priced at just under $800K, it’s gorgeous as one would expect. However, I noticed that out of 9 photos, not one showed a bathroom. I also noticed that the house has 2 1/2 bathrooms with a Click to continue...

What NOT to Say at an Open House

February 23, 2009

Yesterday I hosted an open house in Palatine for a couple that wants to take advantage of this market and move up to a larger home. As their listing agent, I was thrilled with a turnout of 18 people. If I had been the buyer agent for some of those people, I would have been Click to continue...

Showings Today in Arlington Heights, Palatine and Schaumburg, IL

February 21, 2009

Today I showed houses in Arlington Heights, Palatine and Schaumburg. The homes for sale weren’t much out of the ordinary with the exception of a house in Palatine featuring a pool table in the dining room and mold in the basement. Needless to say, it’s not on my buyers’ short list! Home sellers, please reconsider Click to continue...

Try Lupita’s Mexican Restaurant in Evanston

February 20, 2009

Today I toured a 3 bedroom condo in Evanston that the owner will be putting back on the market this spring. I also had lunch at Lupita’s Restaurant in Evanston with a buyer considering Evanston, Skokie and Rogers Park. I really like the ambiance of Lupita’s. It was quiet enough so my buyer and I Click to continue...

How to Buy a Home and Get Your Down Payment Back

February 17, 2009

STEPS 1. Be a first time home buyer and make no more than $75,000, if you are an individual or $150,000 if you are joint tax filers.1 2. Qualify for an FHA loan. 3. Buy a home for your principal residence for $228,500 or less before Dec. 1, 2009 using an FHA loan with a Click to continue...

Economic Stimulus Package Includes $8,000 Tax Credit for Home Buyers

February 14, 2009

The economic-stimulus package passed by the U.S. House and Senate contains several modifications to the previous tax credit for home buyers. The package provides an $8,000 tax credit available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not Click to continue...

Buffalo Grove, IL

February 13, 2009

Today’s Daily Herald featured the suburb of Buffalo Grove in the Homes section. It was a good article. Although, I did find it a bit curious that a Buffalo Grove Realtor was quoted as saying, “We have homes 40 years old to brand new construction including maintenance-free single-family homes and townhouses.” I’m familiar with lots Click to continue...

Today’s ForSaleByOwner.com Press Release Misleading

February 11, 2009

Today while I was on Twitter, a couple of tweets (Twitter messages) caught my attention. ~Study from Realtors find that FSBOs sell quicker & for closing to asking price than agent-assisted sellers! http://bit.ly/F6Jc ~Realtors highlight the benefits of FSBO. Yes, I’m not kidding! http://bit.ly/3i0fLU As you can read from the link in the first message, Click to continue...

Beware of Lenders Pushing Reverse Mortgages to Buy a Home

February 10, 2009

The email’s headline was enticing, “Realtor Alert: Seniors can now purchase a home using a reverse mortgage… Learn how to increase your Real Estate Commissions!” A bank invited me to attend their webinar on how people 62 and older can purchase homes using reverse mortgages. Previously, seniors could only get a reverse mortgage on the Click to continue...

More Details on $15,000 Tax Credit for Homebuyers

February 7, 2009

On Wednesday February 4th the U.S. Senate decided unanimously to included the Lieberman / Isakson Homebuyer Tax Credit in the American Recovery and Reinvestment Act. The proposal, introduced by Senators Joe Lieberman and John Isakson would double the maximum size of the homebuyer credit from $7,500 to $15,000 and remove some of the restrictions that Click to continue...

Chicago Tribune Features Jefferson Park

February 6, 2009

Today’s Chicago Tribune has a good feature on Jefferson Park. Read, “Jefferson Park moving in the right direction“. There’s good public transportation in the area with Metra, CTA’s Blue Line & several CTA bus routes sharing a station. Click to continue...

Senate Advances up to $15,000 Tax Credit for Homebuyers!

February 5, 2009

The New York Times reported late yesterday that the Senate “voted to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000″. If the legislation passes, the tax credit will be up to twice the current tax credit for first time home buyers I wrote about just a few days Click to continue...

You May Need Your Closing Papers Long After Your Closing

February 4, 2009

A gentleman I helped buy a house in Evanston a few years ago called me recently. He was refinancing and meeting with the appraiser who had asked to see his plat of survey. A plat of survey shows the boundaries of a property and where improvements (e.g. buildings) are located on the property. Richard couldn’t Click to continue...

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