Archive for May, 2009
MOVING MISERIES MAGIC
May 29th, 2009 categories: Market Trends, New Developments
Moving is cruel and unusual punishment! I decided that five years ago–the last time my husband and I moved and we only moved across the hall. It doesn’t matter if you move across the hall or across the world–you still have to touch and think about every blooming thing you own. Here are a few suggestions to ease the pain. We’re assuming that you are past the rent-a-truck and buy a few beers for friends kind of move.
- Start early–as soon as your contract to buy or sell is out of the inspection and attorney approval phase, start calling moving companies. Get several quotes. ask about insurance and tell them about any special items like a piano or a valuable antique.
- Decide what you want to pack your self and save money and what you want the movers to pack. For fragile items like stemware and porcelain figurines it is probably a good idea for the pros to do it–that way they also have the liability.
- For the self-packers get your supplies in–bubble wrap, boxes, foam peanuts, a dispenser with heavy tape, a marking pen to identify where each box should go in the new home. Many storage places have all of these supplies including blank newspaper which is wonderful to use for extra cushioning between breakables–regular newspapers have ink that can rub off on things.
- This is a big job–allow plenty of time. Put heavier things in the bottom of a box and lighter things on top–don’t overload a box. You can also use towels and other linens between layers.
- Check out what is in your storage locker or basement–most of us have stuff we don’t use and are saving for “later.” This is “later.” Weed out as much as you can–remember you have to pay for everything you move. Throw out everything you possibly can–and you will still have things that you will wonder why you ever moved THAT. Check boxes for rattle–re-pack if it rattles.
- For absolutely supreme organization and ease of settling into the new place, make a list and attach it to the box, of what is in each box, where it came from in the old home and where it will go in the new home.
- Keep a box or two marked NOW with the absolute necessities for the morning after the move–coffee pot, tooth brush a change of clothes, whatever you will need first thing on the morning of your first day in your new place.
- Remember to keep all medications with you at all times–this is no time to be looking frantically for your pills.
Hope these suggestions help you–if you need help selling a home or finding a new home–just call me, 312-981-2306 or e-mail me.
Related Articles: What Will Win Your Blue Ribbon, 5-09; Old Versus New–What Is The Best For You?, 5-09; 5 Things Buyers Really, Really Don’t Like, 3-09; For Sale By Owner–Yes or No?, 3=09
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LET’S ALL REJOICE IN CHICAGO!
May 28th, 2009 categories: Buying, Lifestyle, Selling
Whew and wow! Am I ever glad I live in Chicago and work in Chicago real estate! As the old saying goes–New York is a great place to visit but to live there? Last Sunday’s (May 24, 2009) Chicago Sun Times had two articles that made me love Chicago more than ever. In one Kay Severinsen recommends a book, “Gimme Shelter, by Mary Elizabeth Williams. The other details the home search of a family of four during the height of the run up in prices in New York. Can you believe that this family of four is living in 800 square feet? In Chicago we think that 800 square feet is a generous one bedroom home. This 800 square foot co-op had two sleeping areas, neither with a door, and as an added bonus–roaches! And, the family is happy there! I think you will enjoy the article and then kiss the earth of good, old Chicago!
Do you need help with Chicago real estate? Just call me, 312-981-2360, or e-mail me. Do you find my blogs interesting? Would you like to receive them automatically? Just click on the orange Subscribe by RSS button and they will be sent to you.
Related Articles: Chicago Real Estate News Vs. National Real Estate News, 5-09; The Flipper Is A Flop Right Now, 5-09; Thinking of Buying Chicago Real Estate, 5-09; The Answers, 5-09
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TURNAROUND, TURNAROUND–WHEREFORE ART THOU?
May 26th, 2009 categories: Buying, Market Trends, Selling
The way to a turnaround seems about as direct as the sign here. There is a lot of conflicting news being broadcast and printed about the real estate market in general and you know how I feel about national real estate news–there isn’t any such animal! It seems to me that there is more activity my office and in my personal business than I have seen in quite a few months. Buyers still have a lot of choices–and sellers have to price their home extremely tight in order to sell. We’re all of us looking for a turnaround in the real estate market because it fuels so much of our economy. Every home seller who moves and every home buyer who moves spends money on paint, carpet, cup hooks, mops, brooms–all kinds of items that help our economy. It is my strong feeling that fixing the housing market will go a long way toward fixing our economy. In the May 17, 2009, Chicago Tribune, Ilyce Glink wrote a wonderful article on looking for the signs of a turnaround in real estate. It is a good 5 minute read–and I think right on the mark.
Let me know if you have questions about your need to buy or sell Chicago Real Estate–312-981-2360 or e-mail.
Related Articles: Are We There Yet?, 5-09; Mixed Reviews–Where Are We?, 5-09; National Real Estate News Versus Local Real Estate News, 5-09
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WHAT WILL WIN YOUR BLUE RIBBON?
May 22nd, 2009 categories: Buying, Selling
Is there a best? Is it bank owned, short sale, or traditional seller? Many people seem to feel that bank owned or short sale properties are the only “deals” around. This simply is not true.
Your personal blue ribbon best should be the home that best fits your needs, dollars wise, size wise, and location wise. Traditional sellers are beginning to realize that they are in competition with the short sale and bank owned properties so if you limit your self to looking at bank owned and short sale homes, you are missing a significant part of the market–you are seeing only a part of the picture.
Do you want the best deal or the best home? When you are looking for a Chicago home, you should be searching for the home first. If it isn’t the right home in the right location, why would you buy it?
There is no resource like a local Realtor to help you find a home that will fill your needs and your dreams. Looking on line is a wonderful start–having expert guidance is the finishing touch. You can’t feel the excitement of the city, the breeze off Lake Michigan, the hustle and bustle of the streets, the quiet and tranquility of a neighborhood on line–these things don’t come from the listings you see on line–for that you need a professional Realtor guide.
A word to the wise for traditional sellers–the basics are still essential. Your home must be clean, easy to show, and most important PRICED RIGHT. You may well be competing with bank owned homes–your home should not look like it is one of them.
As a twenty year full-time Realtor in Chicago, I think I am a doggone good Realtor guide for either a buyer or a seller! Just call me at 312-981-2360 or e-mail me. Incidentally, just sign up for my RSS feed and you will automatically receive my posts that will help you stay current with Chicago real estate.
Related Articles: Old Versus New–Which Is Best For You?, 5-09; Buying A Foreclosed Home–Is It For Me?, 5-09; To Buy or Not To Buy? 5-09; Baby Steps Will Get You There, 5-09
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OLD VERSUS NEW–WHICH IS BEST FOR YOU?
May 21st, 2009 categories: Buying
These two doorways typify the decisions that buyers need to make in today’s real estate climate. Do I want an older home that I may have to fix up or do I want a new home with all the current bells and whistles? Here are some things to consider:
- Size–in Chicago an older home, especially a condo, will usually be larger than a new condo.
- Having said that, many, many developers are offering handsome incentives to potential buyers–it is certainly worth a look at some of the new developments if the neighborhood suits you.
- Be careful with an older home–fresh paint and new carpet are wonderful to have–the question is are they lipstick on a pig? You need the help of an excellent inspector and if you are buying a “fixer upper” a reliable contractor.
- An inspector is also a good idea if you purchase new construction. You might want to have two inspections if you buy before the home is in move-in ready condition. One inspection during construction and another just before closing.
An older home may have nooks and crannies that are totally charming and a new home may have features that are just as attractive in their own way–it’s your choice!
If you would like to explore new versus old–just call me at 312-981-2360 or e-mail me.
My friend Keahi Pelayo in Honolulu has a wonderful blog site—he frequently has pictures of vintage Honolulu homes–it is certainly worth a look if you like architecture!
Related Articles: Thinking of Buying Chicago Real Estate? 4-09; The Answers, 4-09; Baby Steps Will Get You There!, 5-09; Buying a Foreclosed Home–Is It For Me?
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IS REALTOR BASHING A NEW HOBBY?
May 20th, 2009 categories: Buying, Rants, Selling
Sometimes I think it is. I do hear some pretty horrendous stories from my cients and I often wonder how that unfortunate situation could have been avoided. I hear some equally horrendous stories from the Realtors in my office and wonder how the story could have been prevented. Realtors are not all created equal. We’re different from each other in a lot of ways. Sometimes a client will ask to work with me after an unsuccessful attempt to buy or sell a home with another Realtor. When this happens I wonder if they thought to qualify their former Realtor in any way. I don’t and won’t listen to a client with a litany of complaints about another Realtor.
My suggestion is that we go over some basic thoughts before we enter into a buying or selling relationship. I don’t want to hear that the former Realtor only showed them properties that were $25,000 to $50,000 over the top price that was the client’s comfort ceiling. I don’t want to hear that they never got feedback on showings. I don’t want to hear any of the negative experiences that the prospective client might have had–I want to start fresh!
If the prospective client is a buyer, I like to have them come into the office for a meeting so that we can go over some of the important parts if the process of buying real estate. I want to assure the buyer that I won’t raise the price of the properties we see without their telling me to do so. I truly want the client to have a wish list and then prioritize the list–is it a condo with a washer and dryer, is it a condo where they can have a dog–just what are their dreams and how do they rank. By having the client come into the office, I can show them how I search for properties for them.
If the client is a prospective seller, part of my listing presentation is to ask them what is the most important thing about their listing agent–is it feedback, is it open houses, is it advertising–just what is it they want their agent to do for them. I like to go over the process of getting ready to sell, what happens while they are on the market–what it is that I am doing to sell their home. In downtown Chicago, we do not use lock boxes so that means we have to show our own listings–I like my sellers to know that I WILL be there unless they have given me permission to share their key. I want them to know that showing appointments can run late, that showing appointments can be canceled at the very last minute after they have spent two hours getting their home in model home condition for the showing. I want them to know how the selling process goes–it’s ups and its downs.
So I guess that the point of this rant is for the client to qualify the prospective Realtor by making a priority list of the things you expect from your Realtor and for the Realtor to help the client understand the process. If just a little bit of time, say an hour at the most, were given to this pre-qualifying process a lot of realtor bashing and client bashing could be avoided.
I really don’t have any related articles for you to look at–this blog is sort of a half breed–half rant and half buying and selling.
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CHICAGO REAL ESTATE NEWS vs NATIONAL REAL ESTATE NEWS
May 19th, 2009 categories: Rants
Last October I ranted and raved on this subject and I am about to do so again. There is no such thing as national real estate news! All real estate is local–that piece of ground with or without a building on it is location specific. The downtown Chicago market is different from the suburban market is different from the far south city of Chicago market is different from the northwest side of the city of Chicago market. It really is that specific! In some areas of the city, Realtors use lock boxes. In downtown Chicago Realtors don’t use lock boxes. In many areas of the country, even very expensive single family homes are on lock boxes. I know that lock boxes can’t qualify as news–they are just an example of how things are different by area, even very small areas. Our downtown market seems to be much more active the past few weeks–more inquiries, more e-mails, more of everything that says real estate is reviving! What I am hearing from suburban Realtors is that their market activity has not picked up yet.
This goes along with my certainty that real estate news is just as local as weather. Having lived in Chicago for almost all of my life, I know that I can be walking down the lake front very comfortable in a jacket and walk even just a half mile west away from the lake and be comfortable without the jacket. We’re getting such mixed reports from the media about the national real estate market that I think we should just ignore those sources–keep up with things in Chicago and let the rest go. FORGET THE NATIONAL NEWS ABOUT REAL ESTATE!
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ARE WE THERE YET–EDITION TWO
May 18th, 2009 categories: Buying, Selling
Inman News published an article today titled Realtors Optimistic About Price Bottom. One of the interesting points made in the article is that homeowners feel that their property will remain the same or increase in value over the next six months. The reality of today’s market hasn’t penetrated to this set of owners. To read the entire article just click on the title.
Buyers felt that homes are over priced 63 per cent of the time. There were also some interesting percentages about sales prices–homes tend to sell within 10 per cent of the owner’s expectations 51 percent of the time.
In my real estate life, activity has very definitely picked in the last few weeks–more sellers and more buyers. Hopefully buyers will understand the market better and buyers will feel confident in buying.
Which ever side of the real estate fence you are on, I would love to share my 20 years of real estate experience with you–please call me at 312-981-2360 or e-mail me. I love questions!
Related Articles: Baby Steps Will Get You There, 5-09; What’s Real in Real Estate Right Now, 5-09; Mixed Reviews–Where are We?, 4-09
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LUXURY ON THE CHEAP
May 15th, 2009 categories: Lifestyle
These days everyone is looking for a bit of luxury that doesn’t cost a bundle of cash–we just don’t like to feel POOR! And even though the economic news is getting better–we’re all being much more careful with our dollars because we don’t know what tomorrow will bring.
A small luxury that my husband and I enjoyed in one of our homes was a towel warmer–it was such a decadent feeling to wrap yourself in a gently warmed towel on a cold winter day with the wind chill at minus 40! And they really aren’t too expensive Bed Bath and Beyond has them for sale at about $160.
If your closet isn’t organized as well as you would like–you don’t have to spend thousands to make it special for your needs. The Rubbermaid Deluxe Closet system is sold by Amazon and you might even be able to install it yourself with a power drill, a stud finder, and a level. There are shoe cubbies, canvas baskets and tie and belt organizers available with this system. The cost is about $150 plus any add ons you might choose. Probably the worst part of this bit of luxury is taking all the stuff out of the closet and putting it back in place with the new organizers!
So you see–you can spoil yourself just a bit with not a great big bunch of money! And since most of us are staying home more–we will luxuriate in the additions to our home. Incidentally, both the towel warmer and the closet organizer will be helpful selling points when you want to sell.
Need a helpful ear concerning Chicago real estate–my specialty for twenty years! Just call me at 312-981-2360 or e-mail me.
Related Articles: A Door Is A Door Is A Door, 4-09; Kitchen Countertops–A Primer, 3-09
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BABY STEPS WILL GET YOU THERE!
May 14th, 2009 categories: Buying
Home prices are down, interest rates are down and you don’t have QUITE enough for a down payment on a home. Your heart is yearning for your own place and when you run the figures you just don’t quite have enough for closing costs, down payment and moving. Of course you will want to do some fixing up to your new home and you just can’t stretch the available dollars to do it all.
If you can’t afford a huge monthly payment consider taking “baby steps” to your new home. Think about a property that may need some improvements–some updating–a property you could move into, live comfortably and then fix up things like the kitchen and bathrooms. Think about finding a home with expansion possibilities too–especially if the home you are buying is one of the smaller less expensive homes in the area.
Some projects you can probably do on your own–painting, wall paper removal, that sort of thing. Hiring a professional electrician and plumber is undoubtedly a good idea. A key component in the purchase of your “baby step” home is a good inspection–this can help you decide if a home is a real “handyman special” or if it just needs some TLC. The inspection will give you an idea of the age of the appliances and if it is a single family home, the condition of the roof and mechanical systems. The results of the inspection will help you decide whether or not you want to tackle the improvement of a specific property.
Think about how long you want to stay in this “baby step” home–do all your improvements with an eye to reselling in a few years. If you like dark walls, be prepared to re-paint them before selling. And be careful about over improving–that is a big no no unless you are going to enjoy the over improvements for a long time. Go slowly in buying and improvement–
Do you need someone to talk to about buying or selling Chicago real estate? If you do–let me know–call me 312-981-2360 or e-mail me.
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