Archive for October, 2009
IN GOD WE TRUST, AND OUR REALTOR. . .
October 30th, 2009 categories: Buying, Selling
Many of our coins have the saying “In God We Trust” imprinted on them–would that the same trust was placed in our country’s Realtors! A recent Harris poll showed that 20 per cent of the population don’t trust us at all and only 6 per cent trusts us completely. It is an interesting poll to take a look at. One of the problems is that the National Association of Realtors keep saying that NOW is a good time to buy–well it is, maybe. . . And almost every other current idea or saying is the same– well, maybe. . . There are no absolutes! The gist of my feeling is that you should use a strong set of criteria to choose the agent you want to list your home or to help you buy a home. I have written lots of stuff about this important choice and I am going to refer you to some previous posts that can help you establish your own set of things that are important to you. The last two articles are mainly directed to buyers–I feel that most of the same questions could be asked of an agent your are considering to list your home for sale:
Thinking of Buying Chicago Real Estate
Do you need a trustworthy agent to talk to about Chicago real estate–I am applying for the job–happy to send you a resume and answer questions. Call me at 312-981-2360 or 312-607-1306. . . or e-mail me.
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911 AND CHICAGO REAL ESTATE
October 29th, 2009 categories: Buying, Market Trends, Selling
What do 911 and Chicago real estate have in common? Good question, right? Let’s think about how confident we were in our satellite and electronic surveillance tools–and 911 happened in spite of all the technology. Looking for a new home or selling a home is certainly a lot easier now than it was twenty years ago–a buyer or seller can sit in front of their computer screen for hours, for days even, and look at listings and compare them with the property they own or want to buy. Is this a big help to Realtors? It can be. If the buyer or seller realizes that a virtual tour is just that, virtual–then it is a help. If the buyer or seller thinks that the virtual tour or the pictures on the Multiple Listing Service entry are just that, pictures, then it is a help. There is no substitute for actually seeing and feeling a neighborhood, a building, or a home.
And this is where I come in–I am your eyes and ears in the neighborhood, the building, the home. My twenty years knowledge of all three is yours–and you should take advantage of that knowledge. The MLS listings in the computer give you a general idea of what the situation is and that idea should be confirmed by a real live human being who knows the neighborhood, building or home.
Need help with Chicago real estate–just call, 312-981-2360, direct, or cell phone, 312-607-1306. E-mail works too!
Here are a few posts that you might like to read:
Kid Gloves Not Mittens For Today’s Buyer
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TO BUY OR NOT TO BUY–THAT IS THE QUESTION
October 28th, 2009 categories: Market Trends
We’ve talked about this question several times. I have been a full-time, professional Realtor for 20 years–it is my sincere and firm belief that home ownership is the greatest thing since sliced bread for most people–and of course there are exceptions to the rule. Many young people should not buy a home–they may have to relocate to another area of the country, they may not have great job security and they just may not be ready for the responsibility of a mortgage. Think before you leap into a home purchase! Here are some guidelines:
- Be sure of what you can afford–and don’t buy more than that. Real estate is cyclical and it’s a whole lot easier to tolerate a down market if you have purchased conservatively.
- Make your purchase a long term decision. Common real estate belief is that you don’t recover your closing costs for about two years–if you need to move before two years, remain a renter.
- Look at the worst possible scenario. Don’t count on future raises to help with your purchase. If you don’t get that bonus or that raise, you can still continue to pay your mortgage.
- Avoid an Adjustable Rate Mortgage like the plague. If you can’t afford the standard fixed mortgage, you probably should not buy the property. Remember what we talked about–a worst case scenario.
- Think about what is important to you in a neighborhood. Do you need to be close to public transportation to get to your workplace? Do you need to be close to restaurants because you just plain don’t cook? How far away from work do you want to be–an hour by car or fifteen minutes by bus?
- What will the future bring? Of course none of us really know that and you should still give some thought to future possibilities in your home purchase. Could you need a place to work at home in the future? If you are a couple, might you need space for a child?
- Don’t count on being able to borrow more money to make improvements. Many homeowners in our country have seen the value of their home drop below and way below what the home would sell for in today’s real estate climate. Refinancing is NOT an automatic option.
Call me if you have any questions about the above or Chicago real estate in general–312-981-2360, direct, 312-607-1306, cell phone. Email is good too.
What is Your Refi Break Even Point?
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. . . AND THE MERRY GO ROUND GOES ROUND AND ROUND
October 27th, 2009 categories: Buying, Market Trends, Selling
It doesn’t seem right that property values are down and taxes are up–and still that is exactly what is happening. A Chicago Tribune article gives us some ideas of what is causing this unhappy phenomenon. For a really comprehensive look at what this could mean to YOUR taxes, just click and read the article. The figures are all over the place for many reasons–I know Jim Houlihan would not like to hear me say this, but sometimes I think they just throw darts at a dart board in the Cook County Assessor’s office. There are so many variables it’s enough to make you dizzy. That’s why the Tribune article can be a help to let you know what to expect in your tax bill. For a closer look at what might happen to your home’s tax bill, there are two links just under the headline of the article–they are titled City and Suburbs. Click on one or the other and there will be a more detailed breakdown of the increases.
If you have a question bout Chicago real estate–please call me. 312-981-2360 is my direct line and 312-607-1306 is my cell phone. I like e-mail too!
For other articles of interest, just click:
Record Keeping 101 For Home Owners
Stash That Hazardous Trash Safely
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A HEALTHY HOUSE IS A GREEN HOUSE
October 26th, 2009 categories: Buying, Lifestyle, Market Trends, Selling
After over a week with the cold that ate Chicago, I have finally sort of returned to the land of the living. Did I miss blogging? Actually, NO–I just didn’t feel well enough to miss anything except feeling like my usual healthy self. A Z pack helped the infection and killed the uncontrollable coughing and it left me tired. Today I feel like a normal human being for the first time in a long time–and is that ever a good feeling!
Now for the subject of today’s blog–a healthy house that was built with green materials. The builder is a man who had suffered from the fumes that he encountered during the final weeks of construction on the new homes he built for a living. His wife suggested building a home with green materials and it worked like a charm! To read the entire article, just click here.
Probably more accessible for most of us is a green home that has been built in the Museum of Science and Industry complex–and you can actually tour the home. For an idea of what this would be like, click here. The exhibit closes in January so shake a leg and get out to see it soon. Green is not only healthy but environmentally responsible–all of us could learn something!
For a few more items of interest, just click on one of the following articles:
Yet Another Green–Toilet Paper!
Real Estate Rock of Gibraltar Constants
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ALL GOOD THINGS END–EVEN CFL BULBS
October 13th, 2009 categories: Lifestyle, Market Trends
CFL bulbs have been touted as the best thing since sliced bread–and maybe they are! From my perspective I have read a lot of conflicting opinions, rules, etc. I think I have finally found a definitive article that answers a lot of the questions I have had. What to do when a bulb burns out or breaks–both of these questions have had some very negative comments. The main points in the article are:
- Burned out bulbs can be taken to a recycling center–we have them in Chicago. A great location to have in your memory bank is the City’s permanent Household Chemicals & Computer Recycling Facility at 1150 North North Branch Street. No that is not a mistake–the name of the street is North Branch–the location is two blocks east of the Kennedy Expressway at Division. At this point they are not accepting latex paint only oil paint. The hours are Tuesdays, 7:00 a.m. to 12:00 p0.m.; Thursdays 2:00 p.m. to 7:00 p.m. Also the first Saturday of every month–8:00 a.m. to 3:00 p.m. Other sites are set up around the city from time to time–you can call the Department of Environment at 312-744-7406 for information.
- A broken bulb does NOT release a lot of mercury–you can just ventilate the room for 15 minutes and then scoop up the broken bulb and put it in the trash.
- Coal-fired power plants put about 50 tons of mercury into the air every year–a good reason to use the CFL bulbs because they use less power.
- Turning CFL bulbs off and on shortens their life–if you have a fixture or a lamp that you customarily turn on for only 15 minutes at a time, use an incandescent bulb.
- Look for the Energy Star seal on the bulb’s package–they may be more expensive, but they will last longer.
- Finally, energy is money and you WILL save both by using CFLs. They last 7 to 10 times longer than incandescent bulbs and they last 7 to 10 times longer.
Other green type articles that might interest you are:
Save Energy Through TV Watching
Compact Fluorescent Light Bulbs 101
Energy Drains–Let’s Get Rid Of Them
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HOORAY FOR HOME SWEET HOME!
October 12th, 2009 categories: Buying, Market Trends, Selling
Of course I’m prejudiced–home ownership is one of the best ways you can use your money–and I am not saying that just because I am a Realtor. A recent article in the Chicago Sun Times by Dave Carpenter cites chapter and verse about the benefits of owning your own home. To read the entire article, just click here. Some of the interesting points made are:
- Since World War II homes have appreciated an average of 4 per cent a year–a pretty good hedge against inflation. There are also some tax advantages to consider.
- Buying a home is a leveraged investment–you are using mostly OPM–other people’s money. Your return can be huge.
- How to know whether to buy or rent? The price to rent ratio is a great way to find out. Divide the price of the home by the amount of rent that could be earned annually. Carpenter says that since 1986 the ration has averaged nine. He feels that anything above that suggests it may be better to rent–depending on where you live.
Of course it would be lovely if home prices were on a steady upward trajectory and of course we know they are not. Right now the trajectory is downward. And that up and down cycle repeats and repeats. On the whole though a real estate investment is still a good one for the long haul. Even with all the negative news about real estate that is out there in the media today–owning a home is still a great idea!
Need somebody to talk to about buying or selling a Chicago home? I am applying for the job–just call me at 312-981-2360 (direct) or my cell (312-607-1306). E-mail is lovely too!
Some other articles that might interest you are:
A Hunting We Will Go–Stress Free!
The Closing Is The End–The Very End
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GOVERNMENT HELP–NOT AN OXYMORON THIS TIME
October 9th, 2009 categories: Lifestyle, Market Trends
A new government handbook, the newest “Consumer Action Handbook” promises help for a whole bunch of tacky, sticky questions–and apparently it delivers! Lew Sichelman’s article in the Chicago Tribune details some of the many ways this miracle worker can help. It is rather more long than short but worthwhile reading. To read it and find out how to get the handbook free just click here.
Most of us think we can handle the stresses and strains of the average consumer problem and every now and again we can feel overwhelmed by our inability to get action or satisfaction. There are some very concrete suggestions in this article. Remain calm, be firm, and persevere. It is a good idea to keep a record of names of the people you talk to, the day and time you talked to them and a summary of the conversation. Another suggestion is to type your notes and send to them to the person you spoke to–easy to do with e-mail, right? You should also tell the person what you expect to have done.
Filing a grievance is also a possibility and there are a number of places to file them–the Better Business Bureau is the one that comes to mind first, of course. Certain professions are regulated by state boards–hairdressers, realtors, home inspectors and there are procedures set up to lodge a complaint.. The article gives some great ideas for registering your dissatisfaction–perhaps a local TV or radio station would be interested.
And there is always the dreaded “L” word–usually the action of last resort–and thought provoking. Hiring a lawyer can be expensive and there is absolutely no guarantee of the outcome being what you want it to be. Probably best to consider this option VERY carefully.
Isn’t it refreshing to find the government doing something really worthwhile?
Need someone to talk over needs and wants for buying or selling Chicago Real Estate? Just call me, 312-981-2360 (direct), cell 312-607-1306.
Some other posts that might pique your interest are:
Early Warning Signals Save Lives
Why Get An Inspector for My New Home
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REAL ESTATE DEFINITIONS–101
October 8th, 2009 categories: Buying, Selling
A group of rats is called a mischief–how is that for your useless bit of information today? I have heard of mischief but never A mischief. Now that the useless information thing is out of the way, Read the rest of this entry »
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YET ANOTHER GREEN–TOILET PAPER!
October 7th, 2009 categories: Lifestyle
We’ve talked about green cleaning, we’ve talked about light bulbs–AND Chicago IS the greenest city in the country! Well, I don’t know about you but I had never thought about green toilet paper! The recent article in The Washington Post was really an eye-opener–Environmentalists Seek to Wipe Out Plush Toilet Paper–tells us all why we should not use the cushiest softest TP to be had. The reason for this is that the most luxurious toilet paper is made from old growth trees–the fibers are longer and that is what gives softness. I have decided to forego the luxuriously plush toilet paper advertised by cuddly bears and looked for recycled tissue–according to the article, a very European thing to do!
Here are a few posts you might find interesting:
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