With winter just around the corner, and memories of the great 2011 Blizzard, and predictions of the snowiest winter on record set to hit Chicago, I thought it might be helpful to post some preparedness tips.

Before the storm arrives, prepare your home for winter - insulate your windows.  insulate your attic to help prevent ice dams. Insulate any pipes on outside walls to prevent frozen pipes.  If you do encounter frozen pipes, try to thaw slowly, by using a hair dryer.  Make sure your gutters are cleared and your downspouts clear from debris.

Stock, your car, your pantry and home now, BEFORE the storms are imminent in order to beat the rush and guarantee your own and your family's safety.

Stock up on water, plenty of water for drinking, and when you hear a storm is coming fill all the tubs in your home for secondary water use.  Stock up on dry goods and canned goods and be sure to have a good old fashioned manual can opener on hand as there will be a good chance there won't be any electricity.  

When one day stranded turns into 3 or 4 you'll be glad you were prepared.  Stock up on medications and contact lenses/solution...just in case.  Better safe than sorry.

Taking a page from last year's storm we learned to make sure all your fluid levels are topped off in your vehicle. Have blankets, extra clothing, boots, shovel, salt, jumper cables, flashlight, batteries, caution flashers and a cell phone on hand in your car just in case you get stranded on Lakeshore drive. Haha. But seriously folks...this is no laughing matter.  If  you do get stranded with no where to go, run your engine for about 15 minutes per hour, simply enough to heat your interior, and conserve your gas.  If you find yourself in a traffic jam, coordinate with other drivers moving from car to car.  

At home, be prepared with firewood for the fireplace or a back up heat source.  A back up generator may be a good investment this year (but exercise caution, read the directions for use carefully and make SURE it is ventilated correctly). Close off rooms that you aren't using.   Battery operated candles are becoming wildly popular and those combined with flashlights are a great safe alternative to the real thing. Make sure you have smoke detectors and carbon monoxide detectors installed and operational.  

Make sure you have a plan and tell everyone about it...it may just save a life.  Stay safe out there.

Does it feel like we've been here forever?  The never ending free fall of home prices?  Well, in the words of the great Warren Buffet

"Be fearful when others are greedy, and be greedy when others are fearful".

This statement could not ring any truer than right now.  Time to GET GREEDY!  and let me tell you why...

With all the talk about the debt ceiling and the US's credit rating, mortgage rates have dropped further yet.   Add these historically low rates to today's incredible home values - a decline of approx 30% from the peak of the market.   It's hard to argue that there probably will be no better time to take advantage of affordable housing than right now.  To drive that point home even further, take into consideration that the loan limits in IL on FHA mortgages drop on October 1.  It's important that in order to take advantage of the alignment of all these conditions that you close no later than Sept 30th, 2011.  After October 1st FHA loan maximum will be reduced from $410,000 to $365,700 a difference of $44,300 in buying power.

If you don't act now, it just may be too late.

Do agents tell the truth?  Have you ever walked into a home and the cooking odor was overwhelming? or the wallpaper was very loud? or the housekeeping was simply poor?  If someone is living in a home and you're visiting it is good manners to keep your opinions to yourself.  However, if someone is hiring you to help them sell their home, all bets are off.  They NEED to hear the truth even if it stings a bit.  The kid gloves should come off.

Realtors need to be part of the solution not part of the problem.  Preparing a home for sale is no easy feat.  There is a lot to address.  If there is an apparent issue and an agent finds it uncomfortable to discuss it with their seller, that itself becomes an obstacle to the sale of the home.  Sellers need to hear what buyers think of their homes.  If an agent protects their seller from the truth by thinking they're being polite,  they're actually doing them a disservice as they're preventing them from being able to correct the problem and successfully get their home sold.  In this market there is no room for hurt feelings.  The market is tough enough out there, without agents contributing to the problem by being polite.  To tell the truth...that is the answer.  Ask your agent to be brutally honest with you.  Get it SOLD.

This Dramatic Contemporary located on an oversized lot in sought after White Eagle will have you Ooooing and Ahhhing at every turn. If you're looking for a home unlike any other and yet easy to host your parties, look no further. This stunning home is striking upon entry. From the marble entry to the Dramatic Family Room that boasts architectural delights such as a keyhole window, curved wall of windows, dramatic window treatments,

 elegant faux finishes, striking commissioned glass bar tops and 2 story marble surround fireplace, not to mention the view of beautiful mature greenery, this home has it all and more. Brand new carpeting, Freshly painted. Newly remodeled kitchen - new S/S appliances, granite counters and floors. Exquisite Schoenbeck lighting throughout home. Ceiling fans and volume ceilings in all bedrooms. Owner's Suite sports a Juliet Balcony, a beautifully updated ensuite and his and hers walk in closets. All bathrooms have been updated. Spacious basement designed to entertain. From the granite dance floor complete with disco ball to the custom commissioned glass backdrop, and exquisite bar tops to the Fiber Optic color changing lights in the ceiling and bathroom to the custom mirror and real gold faucets and sink no expense is spared. Host your functions with ease with the double ovens and buffet counters. The Luxury appointments throughout this home added to the architectural detail and oversized lot will leave your guests with something to talk about.  Offered at $725,000

http://www.devanehomes.com/Listing/VirtualTour.ashx?ListingID=38832499

While the first time HomeBuyer tax credit has seen it's day, there are STILL programs out there for the 1st time home buyer as well as the upgrade buyer.  The HomeSteps program offers single family home buyers who will be occupying their home a closing cost credit which can add up to several thousand dollars plus a two year home warranty.  Most HomeStep properties are properties that have been obtained through foreclosure and Freddie Mac is reintroducing them to the market.  They are sold "AS IS" but are typically in good shape - but no guarantees.  (Always wise to perform a home inspection).  Thus the Home Warranty provides some protection. 

Have your Realtor assist you in identifying HomeSteps properties, but hurry, the closing cost initiative is only valid May 16, 2011 - July 31, 2011 with escrow closed on or before September 30, 2011. 

Now is a great time to buy!  Happy House Hunting.

A ready willing and able buyer and a ready willing and able seller come to a meeting of the minds and agree on the price of a home.  The buyer has been in the market for several months now and knows the market.  He appreciates the amenities and features of a home and sees the value over other homes, so he makes an offer.  It is negotiated and accepted.  There is nothing else in his mind that is comparable, that is why he is buying THIS home.  Enter the appraiser.

Where has FAIR market value gone?  It no longer seems to matter what price a buyer and seller have agreed on.  We now have a third party, often times from a different county, and on occasion a different state! dictating what the market value of the home should be.  Never mind that this home is located in one of the most prestigious neighborhoods or has 9' ceilings and every other home in the neighborhood has 8'.  Never mind that all the appliances are less than 5 years old and Stainless Steel.  The retort was "the appliances don't make any difference, if it gets foreclosed on they won't be in the home anyway.  We have to focus on the structure"  It feels like we're drifting into an abyss where nothing makes sense anymore.  In addition appraisers are then required to take a percentage off for a declining market.  When will it stop?   I understand that the appraisers are contstrained by strict guidelines that they must adhere to, so it's not really their fault.  How can we ever turn around if they continue with these ludicrous guidelines?  It's time for change.

Now more than ever before, it is important for Realtors to be present at appraisals to explain their numbers, and provide supporting documentation.  Don't be afraid to ask for a desk review, and even a second field review if necessary.  Let's get back to FAIR.

Get dirty!  Dig in the dirt and plant... plant trees, plant bushes, plant privacy.   ROI from planting when you first move in can be ludicrous  Better still, it makes your home more appealing.  Not withstanding the dollars, in this market your home MUST be appealing.   If you can see your neighbors from every window in your home, then I would not consider that a positive.  (I guess that all depends on who lives next door, but I'm just sayin'.)  When it's time to sell your home, you can easily paint the walls the day before the sign goes in the lawn, but a tree or hedgerow will take years to grow.  All that being said, please consider the full grown circumference of a tree top when making decisions as to where to plant your trees, otherwise you'll be chopping them down before they serve their purpose.  A community college course in landscaping will do the trick, and it's an inexpensive way to plan your whole lot inexpensively.  Good Luck! and happy digging.

Do you ever get the feeling that you just pay your taxes and get nothing in return?  Well if you live in Naperville, you will find that that is not the case.  Yes we pay our share of taxes here, there is NO argument there. However when you compare what you receive for those tax dollars, Naperville ranks up there with the numerous programs that the community is offered/provided.  Here is one such example.

Once again, Naperville provides bang for your buck!  Taxpayer dollars hard at work - our fantastic library providing income tax return assistance, provided by volunteers.  Just one more of the invaluable services

For those low income families struggling with your income taxes...help is here!  Nichols Library, which is located at 200 W Jefferson in Naperville will be sponsoring a program FREE TAX RETURN ASSISTANCE again this year.  It is intended for families and/or individuals who earn less that $49K. This program is staffed by very helpful "volunteers".

To receive assistance and best utilize your time, you should be PREPARED and bring with you -

Proof of ID 

Tax Info - W-2 forms, 1099 forms, 2008 tax returns, bank routing & account numbers (cxld check) & any other pertinent information.

Hours of Operation of this program are (4 Saturdays)

Feb. 20th, Feb 27th, Mar 13, & Mar 20  9am - 12 noon

For further information call 630.355.7177

Beginning Feb 1st, 2010, for a period of one year, the FHA is waiving the 90 day Flip Rule that they had previously instituted.   Kudos to this decision.  Let's get back to improving the quality of homes, and putting people back to work in an effort to improve them.  While we're at it we will improve the inventory and economy, and provide folks with a reason to buy homes once again.   In doing so we will be re-energizing neighborhoods and placing desirable inventory back on the shelves as opposed to deserted and neglected homes that no one wants to invest in, pulling neighboring property values down.  Funny how that works.

For specific details visit the HUD Site

Let's get this economy rolling again.  Hopefully bad lenders have gone by the wayside by now (survival of the fittest) and this waiver can become permanent at the end of it's lifespan.