Our Team Member Sue Moss just wanted to catch you up on some of the fun things to do in Chicago this weekend.
Hope you can enjoy them!
The Allstate Arena will be welcoming "The Greatest Show on Earth" this weekend - the Ringling Bros. & Barnum & Bailey Circus. There's always fun to be had at a circus for both young and old. For me, it's eating tons of cotton candy until my stomach hurts! Click here for show times and tickets.
The Museum of Contemporary Art in the Gold Coast neighborhood (220 E. Chicago Avenue) offers a Hide and Seek free with general admission. The admissions desk can provide you with a guide containing clues for an art scavenger hunt. Click here for more details.
Don't know a thing about Chicago's theater district? Well, you're in luck! The Broadway in Chicago Historic Theater Touris offered on Saturdays at 11:00 a.m. This tour will enlighten you with folklore and quirky facts about two of the following -- Ford Center for the Performing Arts, Oriental Theatre; the Bank of America Theatre, and the Cadillac Palace. Click here for more information.
Speaking of the Cadillac Palace Theatre (151 W. Randolph Street) in the Loop, this Sunday evening is opening night of Young Frankenstein, you know, Mel Brooks' classic film where Dr. Frankenstein creates The Monster. It'll be interesting to see how well it's been adapted for Broadway. So, click here to get your tickets. It only runs through December 13th!
Sheffield's(3258 N. Sheffield Avenue) in the Lakeview neighborhood will be hosting their 2nd Annual Chili Cook-Off this Sunday from 2:00 p.m. to 5:00 p.m. in the beer garden. It's for amateur cooks, so if you wish to compete for the $200 gift card, your entry must be received by 2:00 p.m. on Saturday. Click here for further details.
Since this very well may be the last weekend of mild temperatures and no rain for a while, why not take Bobby's Lakefront Neighborhoods Bicycle Tour, which includes bikes and helmets. In fact, yours truly, took this tour in July and thought it was well worth the price. I had such a great time I'm going to do it again next year! But hurry, this tour only runs through November 30th, so click here to get more details on this guided tour.
Lastly, there is one Holiday event taking place this Saturday at Noon, and it's Macy's103rd annual Great Tree Lighting celebration in the Walnut Room. But don't fret if you can't make it, the tree will be on display through January 10th. Click here for further information.
This week, in her Chicago Neighborhood News Post, our Team Member Cathy Mallers covers the Chicago Neighborhoods of Portage Park, Lincoln Park, The Loop, and The Gold Coast, as well as the Chicago Suburb of Evanston IL.
Planning something special in your Chicago Neighborhood or Suburb? Let us know, and we'll help get the word out!
Dean's Team offers the Highest Rated Active Rain Blog in Chicago!
PORTAGE PARK
Make sure you mark your calendars now because coming to Portage Park in 10 days is the Horror Society Film Festival. I have to say better late than never.
The Portage Theater will be showcasing classics like 'The Return of the Living Dead,' 'Fleshbeast,' 'Colin,' 'Zombie Girl' and more.
Who doesn't like a good laugh? One of Chicago's favorite locations for fun and frivolity is Second City. With an amazing lineup (including Steve Carrell, Stephen Colbert, Jim Belushi and more) just released this week, tickets are going to be at a premium for the event billed as "The Second City Alumni: One Night Only."
The show will be staged in both of Second City's mainstage and e.t.c. theaters. Tickets go on sale Thursday morning at 10am and will cost $125. Be sure to call early if you want to get tickets because the only show is at 7 pm with the late night slot being private for alumnae only.
LOOP
According to its website, Block 37 is a premier development encompassing an entire city block bordered by State, Randolph, Dearborn and Washington streets in the heart of Chicago's downtown Loop. Block 37 will have direct access from the City's Pedway as well as the CTA Red Line and Blue Line subway system.
The Block 37 building continues to build its resident listings. With new leases totaling 20,700 square feet and featuring tenants such as Sephora, Michelle Tan, Claudia Kleiner Malabar Collection, Simply Thalia, iCandylicious, and more.
Developer Joseph Freed & Associates LLC remains optimistic about filling the 280,000 square foot shopping center. In a recent press release the developer states that Block 37 is "on track to open this new shopping and entertainment destination for consumers before Thanksgiving and to complete Block 37 by the end of 2010."
GOLD COAST
Gentlemen it's now time to update your wardrobe and move out of the t-shirt and jeans look. Local store, aptly named Haberdash, has undergone a complete makeover and is offering new looks to men who want to update their wardrobe.
Of particular note, the shop now carries everything from dress socks to office-ready Hugo Boss suits and even its own exclusive line of vintage-inspired button-downs.
Be sure to stop by the newly remodeled location with its men's club feel and urban chic inventory.
EVANSTON
What if you could write your own story based on illustration only? At the Evanston Public Library in the children's section you can now visit the "Imagination Library" for just that.
On the second and third floors of the library you will see 75 original paintings, sketches and drawings accompanied by a description of what the illustrator envisioned for the story - but the story itself is left up to the imagination of the viewer.
Thanks to the efforts of Jeff Garret, Associate Librarian for Special Libraries at Northwestern, Evanston Public Library was able to showcase the international exhibit which has already appeared in Japan, Greece, and Iran.
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, November 1, 2009.
Don't let the big jump in Sales Closed, Sales Volume and Listings Expired concern you too much! These wild jumps are very typical for the end of the month - and many listings are set by Realtors to expire the end of each October.
Most of the key numbers continued to be flat last week - ActiveListings fairly stable, Average Market Time still too high. However, I am encouraged by continuing stability in Pending Sales despite the approach of the dreaded Chicago Winter. Also, the Average Sales Price in the North and NorthwestSides of Chicago Neighborhoods we serve most frequently jumped over 5.5% last week.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, fell significantly last week - it's now below 10 months. This is far from the sub-5-month Absorption Rate of a couple of years ago, when the market was far stronger, but the downward trend is very encouraging.
The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame also improved - to 47.09% this past week.
Communities and clients we serve, reside, or plan to reside, in the Chicago Neighborhoods of The Chicago Loop, The Gold Coast, River North, Lincoln Park, Lakeview, Uptown, Edgewater, North Center, Lincoln Square, Albany Park, Ravenswood, Wicker Park, and Bucktown.
Also, these Great Chicago Neighborhoods: Logan Square, Rogers Park , West Ridge, Portage Park, Jefferson Park, Norwood Park, Sauganash, Edgebrook,and Edison Park. Plus All Chicago Suburbs.
SINGLE FAMILY, CONDOS, AND SMALL MULTI-UNIT PROPERTIES - NORTH SIDE OF CHICAGO, NORTH OF ADDISON STREET, WEST OF ASHLAND AVENUE
ACTV LISTINGS JUST SOLD CLOSED EXPIRED
w/e November 1st 3,804 58 131 72
w/e October 25th 3,887 59 68 12
% CHANGE -2.2 -1.7% +92.6% +500.0%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e November 1st $257,178 139 DAYS$33,690,318
w/e October 25th $243,523 138 DAYS $16,559,564
% CHANGE +5.6% +0.7% +103.4%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e November 1st -LAST 12 MOS - 13.65 LAST 6 MOS - 10.39 LAST 3 MOS - 9.83
w/e October 25th - LAST 12 MOS - 14.19 LAST 6 MOS - 10.95 LAST 3 MOS - 10.27
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e November 1st - 47.09% (UNSOLD - 52.91%)
w/e October 25h - 45.36% (UNSOLD - 54.64%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
The U.S. Economy is improving, despite a 26-year high in the U.S Unemployment Rate. Interest Rates are low - less than 5% for some borrowers. President Obama today extended the popular First Time Homebuyers Creditwell into 2010, and extended to program to include many existing homebuyers as well.
The reason the Fed would eventually increase their key Federal Funds Rate - the rate at which banks lend to each other overnight - would be to curb inflation. However, at this point, inflation has not taken a foothold, despite an economic recovery in some sectors.
Currently, the Fed Funds Rate is close to zero, and many mortgage interest rates tied to it - especially rates on Adjustable Rate Mortgages and Home Equity Lines of Credit - have seen significant declines over the past year.
Alternatively, it is possible that keeping interest rates so low for an extended period, coupled with a heavy pumping of Federal Funds into the U.S. Financial System, could eventually create inflationary pressure in and of itself.
At last week's meeting of the Federal Reserve Board, the Fed elected to purchase $175 Billion in Corporate Debt issued by U.S. Mortgage Investors and Guarantors Fannie Mae and Freddie Mac. Their original plan was to buy $200 Billion of such debt.
To date, the Fed has completed its early 2009 plan to purchase $300 Billion of securities from the U.S. Treasury. It plans to complete purchase of roughly $1.25 Trillion in Mortgage-Backed Securities by next March. These moves are designed to put more money in the U.S. Financial System, and encourage lending by big banks.
Is the plan achieving the Fed's desired outcome. Some experts feel - not yet!
But low interest rates for mortgage loans, despite what seems to be ever-tightening standards for home financing - have helped spur home purchases by qualified borrowers, although not to the extent those in the real estate industry would like to see.
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
I am so sorry I am tardy with my weekly post, you dogs! Over the last several days, I have been a bit under the weather. My Human Mom, Dean's Team Member Sue Moss, told me that sleep would be the best remedy.
As you see here, I am actually sleeping, while completely awake!
Most dogs I know do have a programmable cell phone - although text messaging is a bit hard for those of us with no opposable thumbs in our paws. Virtually all of us have land line phones with a Speed Dialing Feature.
Starting tomorrow here in Chicago, however, we all expect a bit of chaos to ensue.
As reported in yesterday's Chicago Tribune by Reporter Kayce T. Ataiyero, the City of Chicago is getting a new area code, the first new area code in city limits since 1997, when the 773 Area Code came to Chicago Neighborhoods outside of Downtown Chicago and The Chicago Loop. Many longtime Chicago residents curse the day they lost Area Code 312.
This new three-digit code - 872 - will be assigned only to new numbers in the city itself - current numbers in the in-city 312 and 773 area codes will not be changed.
However, thousands of cell and land line phones currently programmed to speed dial only 7 digits for numbers in a user's own area code will have to be re-programmed to now dial 10 or 11 digits.
Effective early tomorrow, everyone dialing within the 312 and 773 codes will have to dial that area code before the seven-digit phone number. Land line users will have to enter "1" before the area code.
Although 10 or 11 digit dialing has been standard in most Chicago North and Northwest Suburbs for years, City of Chicago Residents have been spared this added inconvenience. But that is about to end!
As of tomorrow, the Chicago Metro Area will have a total of 10 area codes. The City of Chicago itself will have three - 312, 773, and 872. The Northwest Suburbs now have two - 847 and 223. The Western Suburbs - 630 and 331. The Southern Suburbs, and some close-in Western Suburbs - 708. Further West - two area codes, 815 and 779.
A bit of nostalgia, you dogs! Up until 1988, Chicago and most of the Chicago Suburbs only had ONE area code - 312.My Human Dad, Team Leader Dean, longs for those wistful, simpler times.
You folks out in Wyoming, where there is only one area code for the ENTIRE STATE - we envy you!
Earlier today, the drama on whether theFederal First Time Homebuyer Tax Credit would be extended into 2010 came to an end.
As reported on CNN Money.com, by reporter Tami Lubby,President Barack Obama signed a program extension which gives First Time Buyers an $8,000 Federal Income Tax Credit, provided they contract for their new home on or before April 30, 2010 (the transaction must close on or before June 30th).
The extension of the popular First Time Buyer Credit was attached to a bill extending Unemployment Benefits, on a day when the U.S. Unemployment Rate was reported at a 26-year high 10.25%.
It also provides an incentive to purchase another home to many existing homeowners - those who have lived in their homes at least five of the past eight years - of up to $6,500.
For purposes of this legislation, the definition of a First Time Homebuyer is unchanged - the purchaser must not have owned a home within the last three years.
Under the new program, the maximum adjusted gross income for qualifying homebuyers increases to who $125,000 for single taxpayers, $225,000 for married buyers who file joint tax returns. The previous limits on income were $75,000 and $150,000 respectively.
The maximum home price to qualify for the tax refund under this program - $800,000.
Our Chicago Real Estate Team has helped over a dozen first-time buyers find new homes and take advantage of the straight tax refund program thus far in 2009. For many, the credit meant the difference between buying now, or staying on the sidelines to see if declining Chicago Home and Condo Prices would fall any further.
In the last couple of weeks, as the chances for a timely closing before the November 30th credit deadline waned, several of our buyer clients slowed down their home searches, waiting to see if the credit would be extended. This afternoon, our Team received several calls from buyers wanting to resume their search now that the credit extension has been solidified.
Nationally, the National Association of Realtors estimates the First Time Homebuyer Credit has been used by over 1.8 million families. They calculate that roughly 355,000 of these buyers may not have purchased if not for the credit.
Through September, according to the Internal Revenue Service, 1.4 Million taxpayers filed for the credit. Some of these home buyers, however, took advantage of an earlier $7,500 tax credit, in effect in late 2008 and early 2009. This earlier credit required repayment over 15 years, or when the home was sold. The current program requires no repayment.
NAR First Vice President Ron Phipps credits the program with increasing sales to over the 5 Million Units mark. It also has trimmed homes-for-sale inventory, although he was not specific as to number.
The estimated cost of extending the tax credit - roughly $10.8 Billion over the coming 10 years, according to the Joint Committee on Taxation.
It's the middle of the night, I'm on the Second Floor of a Bungalow on the Northwest Side of Chicago, and I'm composing a blog post!
Am I a die hard . . . or what?
Do you sell for a living? Real Estate? Something else?
Well, if you're in any kind of relationship-based selling or consulting business, where most of your income is derived from what you sell, rather than how many hours you work, you've heard the following words -
LEAD GENERATION! Or, as some prefer . . . PROSPECTING!
Every day, we each go into our offices, or stick our Bluetooth Headsets in our ear and head to the car, or to the local Starbucks, list of prospects in hand, and hit the phones.
We try to mine for gold from the clients we currently serve. Or have served. Or those prospective clients we met casually - at a networking event, at a party, or on the street.
But what do you do if business is down. Further, what is the next step if calls to those you have worked with, or those you know closely, bear little fruit?
Those in the Real Estate Business have recently seen buyers move back to the sidelines pending extension of the Federal First Time Homebuyers' Tax Credit. Or, they are waiting to see if the current, set to expire the end of this month, will be expanded to current homeowners, not just first-timers.
Sellers - if they are not truly motivated - either by wanting to move voluntarily, or, unfortunately, involuntary, due to financial hardship - are delaying going to market until things get better. When? No one knows!
Several top Realtors in our Keller Williams Lincoln Square, Chicago office are taking a very successful paradigm-shifting class called BOLD. This seven-session, once-a-week class is geared to instill the habits, skills, and attitude necessary to succeed in the real estate business today.
And one of the things the class emphasizes is LEAD GENERATION . . . and lots of it!
Each class participant is required to make at least 100 Phone Contacts each week. Not just calls to voice mails or answering machines, folks. Actual calls, and attempt to get actual listing appointments - at least 5 each week!
Sounds good, doesn't it! Those who know me know I prospect or lead generate religiously - and I only call 15 people each morning - about 75 each week. Contacts - about half that number. Usually, one or two listing appointments each week - hopefully, I will land 2 or 3 listings each month - my average.
But hard core, intense lead generating via phone - to warm leads around a listing or a listing just sold - does this really work these days? Will any appointments gotten be qualified, or just weak, casually-interested leads who just want to talk to a salesperson because they are lonely?
Indeed, those in our office participating in the Keller Williams BOLD Program are contacting people, and getting appointments. The conversion ratio - the jury is still out on that one!
But perhaps it's all a numbers game. A bit like hockey. You take enough shots on goal - you eventually land a few.
So . . . what say you? We all need to expand our business. Will heavy, telephone-based lead generation do the trick? Or, is there something else that might work better.
Please, share your experience with us! There are a lot of nearly-starving sales consultants dying to know!
It's still not to late to enjoy Halloween in Chicago. From our Team Member Sue Moss, here's a rundown on what's going on in the City of Chicago today.
Scary, boys and girls!
Dance with the Dead in the West Loop neighborhood at Bon V (1100 W. Randolph Street). It's a creepy fun house with clowns, a spider farm and more. Click here for more details.
Haunting in the Square takes place in an outdoor courtyard in the West Town neighborhood at Firehouse Square (459 N. Wolcott Avenue). Plenty of ghost stories will be told along with a costume contest, pumpkin carving and more. Click here for the Haunting Friday and Saturday schedule.
X-ecutioner's Ball VIIIin the River North neighborhood at Excalibur (632 N. Dearborn Street) will be awarding $1,000 - largest individual cash prize - for best costume as well as other prizes. Click here to learn more.
North Halsted Street Halloween Parade begins 6:00 p.m. on Saturday evening at Halsted Street and Belmont Avenue. You must register at Spin between 4:00 p.m.-6:00 p.m. if you wish to participate in the costume contest. And, yes, pets are welcome to join in the costume contest as well. Click here for more information.
Wicker Park Halloween Prowl will gather in the East Village/Ukrainian Village neighborhood at Ashland Avenue and Division Street this Saturday at Noon for its sidewalk costume parade. Want to join them? Put on a costume! Click here for further details.
Halloween at Chief O'Neill's is located in the Irving Park/Avondale neighborhood at Chief O'Neill's Pub (3741 N. Elston Avenue). Party outside in the garden or inside by bobbing for apples, pumpkin carving, a costume contest, ghost stories, a sing-along and much more, so click here.
Nightmare on Wells Street . . . Parts I, II, III & IV takes place in the River North neighborhood at Bull & Bear (431 N. Wells Street) with themed drink specials, a costume contest and more. Clicking here you'll learn more.
Lastly, there's the Doggie PUPkin Party in the Irving Park/Avondale neighborhood at Brands Park (3259 N. Elston Avenue) on Saturday from 9:00 a.m. to 12:00 p.m. BEWARE -- there will be a dog-owner lookalike contest - how spooky is that, a pet parade and more, so click here to find out more.
Oh, if you truly want the "FRIGHT" of your life, watch the Bears game!! They're at home Sunday and will be haunting the Cleveland Browns.
Enjoy the weekend . . . and hope you're spending it in Chicago!
Here's a link to Sue's This Weekend in Chicago Blog Archive, viaBlogChicagoHomes.com.
Will this rain in Chicago ever stop? Quite gloomy, and quite depressing!
Here's our Team Member Cathy Mallers latest update on Chicago Neighborhood News. This week, she covers the Chicago Neighborhoods of Lakeview, Lincoln Park, The South Loop, and Lincoln Square, as well as the Chicago Suburb of Naperville IL.
Got something going on in any Chicago Neighborhood you would like us to publicize for you or your group? Let us know - we'll help get the word out!
Dean's Team offers the Number One Rated Active Rain Blog in the City of Chicago!
Earlier this year, they hosted a party at the Museum of Science and Industry. Now they are looking to outdo themselves again with another great lineup. Expected to attend are burlesque singer Melody Sweets, contortionist Mei Ling, a human Slinky, The World's Most Dangerous Comic Mark Faje, Butterscotch, also known as The Human Beat-Box, and the crossbow tango duo Mr. and Mrs. G.
Stay thirsty my friends!
LINCOLN PARK
Like Pottery Barn? Do you have Pottery Barn kids? Guess what?
PB Teen just opened a new location at 2111 N. Clybourn Ave. Before you could only get their products online or through catalog. Chicago has now joined the ranks of Atlanta and New York as the only other city (thought to be final city) to shop for PBteen.
This evening at The Shrine, you can meet Jerry Azumah, Tyrus Thomas and many more athletes scheduled to attend this reception, concert and raffle for Athletes Across Borders. The event is scheduled for 6 - 10 p.m. Tickets range from $25-$100, with the VIP level offering access to an exclusive meet and greet with the players.
LINCOLN SQUARE
With this crazy fall weather, now is the time to invest in a good pair of boots not to mention some great walking shoes.
Locals from Lincoln Square just love The Dressing Room and now, they can enjoy The Dressing Room Shoes located just down the street. Showcasing affordable and upscale, the selection is not to be missed. Be sure to check out the "looks for less" suggestions.
NAPERVILLE
So much is happening in Naperville over the next couple days, we had to share it all with you here. First, this evening North Central College ensembles present the annual Choral Invitational at 7:30 p.m. in Went Concert Hall at the Fine Arts Center.
Thursday you can North Central College will host the screening of the film "Sierra Leone's Refugee All Stars." Also on Thursday Dave Barry & Ridley Pearson, authors of "Peter & the Sword of Mercy," will speak at 7 p.m. at Anderson's Bookshop.
Saturday enjoy a 30-minute horse-drawn hayride through the prairies and woodlands of Dandy Forest Preserve, and learn about the features of this historic preserve from noon to 3:45 p.m. at Danada Equestrian Center.
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Hey, you fine dogs! Just me, Gracie Ella Moss - Lil' Buddy's younger sister.
I'm filling in for Buddy tonight, as he won't be home until very late. He's coming back from a Team Building Workshop for Keller Williams Top Dogs in Lafayette IN - just got his text message from the road, asking me to handle his posting duties tonight.
So tonight, it's lady's choice - and my topic tonight: fashion!
Actually, a bit of a sad note for we Canine Fashionistas, who frequent those little Trendy Boutiques in well-to-do Chicago Neighborhoods like Lincoln Park, and Wrigleyville.
As the recession here in Chicago has deepened, and well-heeled high fashion buyers here in the city begin to pinch their pennies tighter, several of those trendy boutiques you may have seen - and shopped at - over on Southport Avenue, or Oak Street, or Armitage Avenue - have seen their business fall to critical levels. Many have closed!
As reported in today's Chicago Tribune by Reporter Sandra M. Jones, some shops, including the high-style Ciao Bella on Southport Avenue near Wrigley Field, used to be a place where baseball players wives shopped frequently each summer, while their wealthy husbands were challenged by that little white ball just a few blocks to the east.
Today, however, the shop's owner, Amy Lechelt-Basta, is closing for good this Sunday, after having to discount her merchandise to the bone to even draw customers.
In the tony Lincoln Park Neighborhood of Chicago, about two miles south of the Southport Shopping District, about two dozen small shops have gone out of business on trendy Armitage Avenue, between Halsted and Racine Streets, over the last couple of years including Moonlight Graham, Fresh or Faux, and Entendre Couture. Some are now far-less-trendy resale shops.
Several years ago these Chicago Neighborhoods were adding to our city's allure as a fashion destination. Now, with many of the shops gone or closing, due to a weak economy, the seeds of Fashion Chicago may have been put back in the seed package, at least for a while.
Today, some of the remaining stores have stayed alive by offering a few discount lines, and really enhancing their customer service. Some stores now deliver merchandise to their customers, or take shopping direction over the phone. Others are emphasizing their online businesses, laying in wait for the time when the economy improves, nearby condos and art galleries begin to fill once again, and high fashion shoppers will likely return.
But, for now, looks like I'll have to borrow at least some of my clothes from my Human Mommy Sue Moss. She does have some real cute looking outfits, you know - although her shoe size is a little bigger than my lil' paws!
Enjoy the weekend, you dogs! Buddy's back next week!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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