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Lil' Buddy's Blog - EXTRA! What Does A Licensed Real Estate Dog do on His Day Off? He Catches a Ball Game! - 03/31/08 10:45 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
This was it, folks! Now I am a true Chicago Dog! Today, I attended my first OFFICIAL Chicago Cubs Opening Day at Wrigley Field!
What a Great Way to spend your first Day Off since almost the beginning of the year - I've been working my paws down to the bone, you know!
Actually, I tried to get in last year, as I hid in a duffel bag - but the Feds caught me, and I spent the game in stir! Had to … (5 comments)
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Chicago IL Market Statistics Update - March 31, 2008 - 03/31/08 09:24 AM
Good Morning, everyone!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, March 30, 2008 -
We are very encouraged by improving figures for Properties Pending Sale, Sold Units, and Expired Listings last week. Average Sale Price gave back last week's nearly 15% gain, while Sales Volume, of properties that went under contract several weeks ago, nearly doubled! Average Days on Market gave back most of last week's 10% gain.
All the while, Active Listings remained fairly steady this could indicate both fewer units are coming on new to market now, but also that the inventory of Active … (1 comments)
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MORTGAGE FRAUD - Same Old Scam Continues, New Tragic Victims! - 03/30/08 05:10 PM
I read Amy Le's Homescape Blog yesterday, and was distressed to hear the same old mortgage scam continues unabated.
California Authorities have indicted Charles Head, of Los Angeles, of defrauding over 100 homeowners, and raking in $12 Million in loan proceeds in this familiar scheme. The same scenario has played itself out across the country over the years - including here in Chicago - but the shear volume of new foreclosures, loan resets, and borrowers in over their head in debt makes the scam even harder to stomach.
He and his "investors" would prey on those who have fallen behind in their mortgage payments. … (0 comments)
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IT'S NEARLY EARTH HOUR IN CHICAGO! 34 Cities Worldwide Show Support for Greenhouse Gas Reduction! - 03/29/08 07:13 PM
Are you celebrating, or have you celebrated, Earth Hour, tonight at 8 o'clock?
To support efforts to reduce Greenhouse Gases, and their possible effect on Global Warming, The World Wildlife Fund is sponsoring the awareness campaign all over the world tonight. Between 8 and 9 PM, all many private and public buildings will go dark in support.
Most McDonald's Restaurants plan to participate. Many well-known buildings, and government complexes, as wll as hundreds of private businesses, will get involved.
Here in Chicago, the famous Sears Tower and John Hancock Buildings will darken at 8 for an hour. So will the Merchandise Mart - its … (3 comments)
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NEED TESTIMONIALS? Try This! - 03/29/08 05:41 PM
Hope you're enjoying the weekend, folks!
Here in Chicago, our Cubs won the last game of Spring Training versus the Seattle Mariners, played in Las Vegas this afternoon. Now, it's on to Wrigley Field, on a predicted-to-be-mild Opening Day this Monday.
This could be their year! Well . . . we'll see! (It's been 100 years since the our last WS Victory, you know.)
This morning, on our Team's weekly Objection Handling Technique Conference Call, Jeff, Kathy, Sue and I were brainstorming a better way to get testimonials. Let me know your thoughts on this.
Historically, we have asked for written testimonials at or … (1 comments)
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HOMEOWNERS: Owe More Than Your Home is Worth? FHA Might Come to the Rescue! Perhaps, That Is! - 03/28/08 06:49 PM
Great debate and no shortage of proposals on what to deal with the Mortgage Crisis. It's sure to become an even hotter topic as the General Election draws near in November.
While Senators Clinton, Obama, and McCain unveil their plans, and ratchet up their accompanying rhetoric, the White House, Congressional Democrats, and HUD are working on separate plans to help those homeowners that owe more to their lender than their home is worth in today's Real Estate Market.
In the olden days - say, 2005 - refinancing was easy, as appreciation was steady, year upon year, for many years. With appreciation slowed to a … (0 comments)
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Lil' Buddy's Blog - What are YOU Drinking? How About a Nice Cold Chicago Tap Juice, On The Rocks? - 03/27/08 11:04 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Here I am just lying around on our Living Room Floor, while my Human Daddy, Team Leader Dean, is out shoveling snow again. Dean was a little mad - this is the 43rd day of accumulating snow this winter in Chicago - the worst for snow days in over 25 years! He, Mom, and me - we're all getting pretty tired of all this white stuff - wish it were spring, already!
Come on, folks - visit us in Chicago (after the snow … (3 comments)
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FACEBOOK, OTHER SOCIAL NETWORKING SITES - I'm Sure There is A Business Purpose Here, But I Just Don't Know What it Is! - 03/27/08 11:48 AM
Good Evening, Gang!
Need your help here, because I'm feeling very old, very dumb, or perhaps a combination of the two.
Last November, at an Annual Business Coaching Conference with our Coach, Patti Kouri, of Woodland Hills CA, her and her speakers espoused the great value of Social Networking. "Rewards, contacts, and new friends beyond belief," several said.
Nearly five months later, however, I fail to see the benefit!
I joined Facebook, and LinkedIn. I got involved with a bunch of groups on each. I've traded emails, Drinks, Beers, Fun Wall Greetings, Hugs, Kisses, and . . . my wife still … (74 comments)
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FEBRUARY, 2008 HOME SALES SHOW GAIN NATIONALLY - How About Chicago? - 03/25/08 09:21 PM
Our Town, Chicago, was not affected as much by real estate speculation, and the resulting huge quantum leaps in property values, as some other major markets were - Las Vegas, Phoenix, Miami, and parts of California. Although Chicago is going through a bit of price retrenching of it's own now, recent numbers from The National Association of Realtors provide a bit of hope.
Please first see our BlogChicagoHomes.com post from yesterday, March 24th, talking about the February versus January, 2008 2.9% Unit Sales Gain across the U.S. This was the first monthly unit-sales gain since last July.
Despite the favorable February numbers, … (0 comments)
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"AUTOMATIC" APPRAISALS? No More, if New Standards from NY Settlement Become the Norm! - 03/25/08 08:56 PM
Hey, everyone!
If you've been in Real Estate for a while, you've most likely encountered lenders who select appraisers to value property. Although they were never supposed to, I'm sure they had an "understanding" with the appraisers they selected that the property would appraise out for the purchase price - no less! Here in Chicago, I've seen this happen, more than once, over a decade and a half in the real estate business.
Many "in the know" feel rampant over-valuation within the last few years may have been a key contributing factor to widespread loan delinquencies we are experiencing today, and, perhaps, some current over-compensation, … (5 comments)
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HOME SALES UP IN FEBRUARY! Are Falling Prices Increasing Demand? - 03/24/08 05:25 PM
Good Afternoon, Everyone!
By now, you must have heard or read National Association of Realtors Chief Economist Lawrence Yun, and his comments on the increase in the sale of Existing Homes for February, 2008. Revised NAR statistics show a 2.9% increase in units sold during February. The last time unit sales increased, it was about 90 degrees outside, and we were cooking steaks on the BBQ - July, 2007.
Indeed, prices have dropped a historic 8.2% in the year ending February, 2008. One year ago, the Median U.S. Home sold for $213,500. Today, that same home would cost $195,900. Units sold dropped 24 … (1 comments)
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Chicago IL Market Statistics Update - March 24, 2008 - 03/24/08 03:09 PM
Good Afternoon, folks!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled Easter Evening, March 23, 2008 -
Properties Pending Sale showed a decline this week, while Average Sale Price increased, as did total Sales Volume. This might indicate slight market pickup, if the trend continues, as right-priced, well-presented properties might sell. Average Days on Market dropped about 10% last week. The question here - will this positive trend continue as the weather warms this spring?
Sold Units washed last week's gains.. Expired Listings showed a considerable increase - let's see if this continues as the end of March approaches. Sales Volume up … (0 comments)
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HOME INVENTORY TOO HIGH - U.S, CHICAGO - Here's How Our Sellers, Buyers Respond! - 03/24/08 02:57 PM
Just reviewed some fairly recent statistics compiled by Discount Real Estate Broker ZipRealty, and reported by Mary Umberger, Real Estate Columnist for The Chicago Triubne. The numbers are a bit unnerving!
In aggregate, unsold inventory of homes and condos increased 1.2 percent in February, comparing with January, 2008. In the Chicago Metro Area, inventory climbed by 2.7% between January and February, and today's inventory level is up 17.2%, as of the end of February, 2008, versus February, 2007.
As of February 29th, 72,842 homes and condos were active and for sale throughout Chicago and the suburbs, and 38% of these sellers had reduced … (2 comments)
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HELP! I'VE FALLEN! How do I Get Up? - 03/23/08 10:26 AM
Our Team, Sue and I hope you have a Blessed Easter!Before we head out the door to see the family today, we wanted to pose this question to you and your families. Very appropriate to consider today!
When something's got you down in this Real Estate Market - how do you Get Back Up? Would love to compile a big list, and spread it far and wide in the AR Community.Here are my Top 5 "Blues Busters" for an often-challenging, frustrating real estate market -1. EXERCISE! If you work out on a regular and consistent basis - even if just a … (5 comments)
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CHICAGO KIDS MUST NOW RETURN HOME EARLIER! City Curfew Now 10:00 Weeknights, 11:00 Weekends! - 03/22/08 02:00 PM
"It's 10:30! Do You Know Where Your Children Are?" The honey-voiced TV announcer used to recite these memorable words each weekday night after the 10 O'Clock News.
Effective tonight, they could make that announcement at the BEGINNING of the news! The Chicago Curfew, for youths under the age of 17,moves one-half hour earlier tonight. Chicago Police, publicizing the change earlier this week, cite concern over a slight increase in overall crime statistics - up 3% in 2008. More alarming is a fourteen percent increase in homicides citywide - especially in several of the poorest neighborhoods here in Chicago.
Few arrests are made of youths … (6 comments)
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9,600 "Declining Market" Zip Codes Make Housing Recovery Tougher for Many! - 03/22/08 05:36 AM
Is YOUR Market Area on the List?
Several Mortgage Insurance Providers, including AIG United Guarantee, are toughening their MI Underwriting Rules in areas which it considers "Declining." In these zip codes, it will be tougher for those with low down payments on their new homes, or low equity in existing homes they wish to re-fi, to get new financing. More stringent rules apply to those seeking certain adjustable rate loans, or purchasers on non-owner-occupied investment properties.
See the entire AIG Declining Markets list here.
Those with FICO Credit Scores under 620 will have difficulty getting Mortgage Insurance at all. If you have a FICO … (4 comments)
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Lil' Buddy's Blog - Dunkin Donuts is to Police Officers as Starbucks is to . . . - 03/20/08 10:25 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
. . . Realtors, folks! That was the word I was thinking of here. Realtors!
Believe me, I mean no offense to Chicago's Finest, but if there is a stereotype for them, there is surely one for us! It's our local Starbucks - the one down the street from our office, on Wilson Avenue at Lincoln, in Chicago's Lincoln Square Neighborhood.
I am a Real Estate Broker, you know - so I am qualified to comment here. Indeed, I am the only Licensed Pekingese in the … (5 comments)
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ANOTHER 6" CHICAGO SNOWFALL? You've Got to be Kidding Me? - 03/19/08 10:29 PM
Hey, everyone!
The Winter That Never Ends continues here in Chicago, even through Friday, March 21st - the first official day of Spring, 2008.
Man, I am getting blue! And, you know, so are my clients! Even here in Chicago, where we are quite used to it, only the die hards (and those very motivated) search the housing market in the middle of a moderate snowfall! (It's a great time for geo-farming, however - everyone else is hunkered down).
Starting Thursday night, the National Weather Service is predicting another possible six inches of snow to fall in the city and suburbs. More is predicted … (1 comments)
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FACING FORECLOSURE, Some Now Simply WALK AWAY! - 03/19/08 12:18 AM
This is a troubling story, and a troubling trend. Brian Ban, one of the Top Producers in our Keller Williams Office here in the Lincoln Square Neighborhood of Chicago, brought it to our attention.
It's even more troubling that I can understand the logic behind the defaulting borrower's decision, as he faces foreclosure. I can see their logic - and that is what is frightening!
What goes up higher, comes down faster, and harder. So spins the Northern California Real Estate Market in 2008. Here, the foreclosure rate in some areas is among the highest in the country, and many recent home buyers are … (6 comments)
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OVER 65? You Now Can Ride FREE on Chicago-Area Mass Transit! - 03/17/08 10:18 PM
Good Evening, folks! We hope, tomorrow morning, bright and early, you'll still have Fond Memories of St. Patrick's Day, 2008!
Coincidentally, I heard the old 1970's Edgar Winter Group song, "Come On and Take A Free Ride," on the XM Satellite Radio 70's Channel on the way home from the office tonight. It would have been cliche to refer to it here - until I remembered that many of today's seniors might have fond memories of that great 1973 song from their youths!
THAT SONG WAS A HIT 35 YEARS AGO - many reading this post WEREN'T EVEN BORN YET! What a Reality … (2 comments)
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Chicago IL Market Statistics Update - March 17, 2008 - 03/17/08 08:17 AM
Happy St. Patrick's Day, everyone!
Properties Pending Sale and Average Sale Price numbers stable this week - let's see if things pick up in the coming weeks with warmer weather. It seems, from our personal experience, listings traffic is beginning to pick up. Average Days on Market still high, but stabilizing as well.
Sold Units actually up strongly this week - many who purchased a month or so ago, wanting to close and do any improvement work as the weather gets warmer. Expired Listings fell once again - typical for mid-month. Sales Volume fell off, but encouraged by stable Average Sales Price.
Absorption Rate and Percentage of Sale … (2 comments)
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More Sellers, Unable to Sell, Turn to Renting Their Homes, Condos! - 03/16/08 10:10 PM
More and more, as the Chicago Real Estate Market continues at a comparatively sluggish pace, several of our seller clients are considering renting their existing homes - rather than risking vacancy, or becoming more frustrated, in their opinion, continuing to try to sell them.
For some, not inclined or with the experience or mentality to be landlords, the answer is pretty clear cut - reduce your price to sell, and MOVE ON!
But for some of the others, renting is a good option for them. It's a good option, however, only if they understand the following-
1. Stable tenants require leases - at least … (3 comments)
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"THE MONEY'S NOT IN YOUR HANDS, TIL IT'S IN YOUR HANDS!" Sold Homes Going to Close Not Guaranteed Anymore! - 03/16/08 12:58 PM
Enjoying Sunday, folks! Good!
As for me, I'm posting on my AR Blog. You?
As a real estate practitioner, we learn early to take nearly every sale with a grain of salt. Negotiate a contract? I bet you don't figure out your compensation until inspection and loan commitment are complete, right?
If you used to - you don't anymore! Especially, in this Real Estate Market, Version 2008!
Today - in the Chicago Market, and I am sure where you are, too - two big road blocks most often come between your signed contract for sale, and your closing - Inspection Issues, and Financing Issues.
Sure, … (4 comments)
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IT'S DOWN TO ONE OF THREE! Which POTUS, if Any, Can Turn Around The Real Estate Market? - 03/15/08 10:54 PM
Oooooh - this one is loaded!
Please, folks, no political, evangelical, or red-state-versus-blue-state tirades here.
But now, bearing unforeseen circumstances, we're down to one of three 2008 Presidential Candidates that will be the Leader of the Free World this time next year.
Which Presidential candidate, if elected, would be the best friend to Homeowners? To Real Estate Investors? To we Real Estate Practitioners?
Or, does it really make a difference? Is this a situation far too big for any one new president, with his or her Team, to tackle within the coming few years?
John McCain, best I can tell, hasn't really promised much of anything … (8 comments)
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NEW CHICAGO REAL ESTATE TRANSFER TAX FINALLY SET - Buyer and Seller to Now Pay! - 03/15/08 06:16 PM
Hope you're enjoying the weekend, folks!
Effective April 1st, a new, higher Chicago Real Estate Transfer Tax takes effect. Under the new law, the tax here increases from it's current $7.50 per thousand of purchase price, up 40%, or $3.00, to $10.50/M. For many years, this Chicago Tax has been the responsibility of the BUYER of the property. Hence, a family purchasing a $400,000 home here would have to pony up an additional $1,200 to allow the deed to record.
Now, according to near-unanimous action by the Chicago City Council this past Wednesday, the BUYERS keep the same tax bite. But, by law, … (4 comments)
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Lil' Buddy's Blog - Chicago to Become "Most Bicycle Friendly City" - Mayor Richard Daley - 03/14/08 10:19 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
I bet you didn't know this Little White Dog is an avid cyclist, just like Chicago Mayor Rich Daley! It's true, during the spring and summer, I often ride 10 or more miles a day. I'd go further, but my little four paws barely reach the pedals on my Racing Bike!
This summer, I plan to add a side car, so I can go riding with my Designated Humans - Team Leader Dean and his wife, Sue.
You know, sometimes, it's very tough cycling around … (1 comments)
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IN COOK, DU PAGE COUNTIES, Scammers use Quit-Claim Deeds to Steal Properties, Equity! - 03/13/08 09:26 PM
This is very disturbing, folks - but I'm sure it also happens where you live and work.
Here in Cook County, the county which includes the City of Chicago, as well as neighboring suburban Du Page County, scam artists are beginning to record forged Quit Claim Deeds to transfer properties to themselves in alarmingly increasing numbers.
After the deed is forged then recorded, the new "owner" enlists this help of a scam-friendly mortgage broker, and appraiser. He re-finances with cash out, or takes a hefty home equity line of credit draw, against the property he "acquired." Then - he is GONE. And, often, the equity, … (1 comments)
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DO YOU USE ELECTRICITY IN CHICAGO? Time to Pony Up a Bit More! - 03/13/08 09:04 PM
Everything goes up, right? Gasoline? Heating Oil? Groceries? Home Prices (well . . . )?
Well, here in Chicago, the cost to turn on your computer, to run your shredder, to cut your plywood, and to flip on that reading light, is going up, once again!
Commonwealth Edison, or, as we call them here in Chicago, Com Ed, is raising rates once again, to relect the higher cost for energy to be purchased at auction after June 1st. The electrical utility, which serves the Chicago Metro area, will boost rates by an average of $2 a bill effective this Summer.
I know - it … (1 comments)
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A FIELD DAY FOR BUYERS? The Crazy World of Buyer Inspection Requests - 2008! - 03/13/08 08:23 AM
Hey, Gang - hope all is well!
One aspect of today's buyer-oriented real estate market, here in Chicago and elsewhere, is the absolute brazen attitude of many buyers toward inspection repairs.
You know what I mean, don't you, you Listing Agents?
Hard, extended negotiation after long seller market times. Seller frustration. Finally, success - an accepted offer. Everyone breathes a sigh of relief! Or should they?
Here comes the inspector - mostly minor issues arise. Reverse polarity here. A loose toilet there. Slow tub drains. Drafty old windows. Cracks in the sidewalk.
Real health and safety issues, right? (I'm being cynical, folks!)
And what to the buyers request? … (2 comments)
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DO NOT CALL LIST! Never Let Ignorance Stand in Your Way of Prospecting - Ever Again! - 03/11/08 08:55 PM
Hey, hey, everybody! Hope all is well!
Keller Williams Chairman Gary Keller, speaking online and at the Keller Williams Family Reunion Conference last month in Atlanta, spoke again and again about the importance of continuing LEAD GENERATION in weak markets.
Those that master the art of CONSISTENT Lead Generation will not only survive any market downturn, but will THRIVE through it, and BUILD MARKET SHARE for when things turn around, as you know they will, later on.
How do we agents and brokers generate qualified real estate leads?
Many use Open Houses, Mailings, Telephone Contact ("Telemarketing" is a DIRTY WORD - never use it!). … (4 comments)
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INCREASED CITY OF CHICAGO REAL ESTATE TRANSFER TAX - Who Will Pay, Buyer or Seller? - 03/11/08 08:28 PM
The price to transfer Real Property in Chicago is going up April 1st!
Effective for transactions that CLOSE after that time (those that close earlier but do not record until after the cutoff do not pay the increase), the Chicago Real Estate Transfer Tax increases to $10.50 per thousand of sales price, up 40% from its current $7.50 level. Here in the city, this tax has been the responsibility of the buyer since its inception many years ago.
Under a new proposal being considered by the Chicago City Council, however, this incremental tax amount would either be split between buyer and seller, or … (1 comments)
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Chicago IL Market Statistics Update - March 10, 2008 - 03/10/08 08:13 AM
Good Morning, Boys & Girls -
Here are updated Chicago Real Estate Market Stats for Monday Morning, March 10, 2008.
Properties Pending Sale figures are starting to rise this week - perhaps in anticipation of warmer weather, and the traditionally-hotter Spring market. However, jumps this year are somewhat subdued - but nonetheless welcome. We are also encouraged by the jump in Average Selling Price, but would like to study this for several weeks into the Spring to see if this is a trend. Average Days on Market still high!
Sold Units and Expired Listings typically fall the second week of the month, but very encouraged by … (0 comments)
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CHICAGO, COOK COUNTY TAX RATES INCREASING! Will Consumers Buy Big-Ticket Goods Elsewhere? - 03/09/08 12:28 PM
Good Morning, Everyone! Hope you're enjoying your Sunday morning!
You know from several previous posts on this blog about increasing consumer sales tax rates in Chicago, Cook County (the county in which Chicago is located), and surrounding suburban counties. These increases were passed in January and February, to forestall big budget cuts and fare increases for local mass transit, and to fund Cook County Services.
Chicago Property Buyers were also hit with a 40% increase in the local real estate transfer tax - to $10.50 per thousand of purchase price, up from the previous $7.50/M rate - giving many already-hesitant local home … (2 comments)
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PERCEPTION BECOMES REALITY - Will Recent Job Loss Figures Further Diminish RE Market Confidence? - 03/09/08 11:05 AM
What can we as Real Estate Practitioners do to inspire confidence in our clients?
Buyers investing now, or sellers moving up, will likely be very happy they did a few years from now - but fear and procrastination, about the real estate market as well as their own ability to buy or sell now, is holding them back.
U.S. Labor Department Statistics indicate 63,000 jobs were eliminated by employers nationwide in February. In addition, they revised upward, from 17,000 to 22,000 the number of jobs slashed in January, 2007.
Here in Chicago and nearby, folks are reading the newspapers - uh, I mean, surfing the … (1 comments)
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WEAK AGENTS! How Much are they Hurting US ALL in Today's Market! - 03/07/08 05:23 PM
"Adversity! Handling it is the medicine that makes you strong!"
My Dad told me that when I was a mere tot. Although he was not the first one to say something like that, I remember his words like they were said to me today. Perhaps it was because he was standing in the middle of the living room in his boxer shorts at the time. Well, I digress . . .
In today's market, which is sluggish here in Chicago and in many places, most of us agree that pricing too high is not an option. Quite frankly, the property will … (9 comments)
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CHICAGO MAYOR DALEY to Aid Homeowners Protesting High Real Estate Tax Assessments! - 03/07/08 10:26 AM
Real estate tax bills are going up in Chicago!
Not much news value to that, I suppose. Last year, Richard Daley, the Mayor of Chicago, pushed through a real estate tax hike in the city that will bring more than $86 Million to the city coffers over the coming year. Much of the increase will come via escalating assessed property values throughout the city, affecting Tax Year 2007 bills, due in the Fall, 2008.
However, the market values on which the new Tax Assessed Values were based were calculated based on January, 2006 prices. In many neighborhoods of Chicago, average market values have … (0 comments)
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Lil' Buddy's Blog - VACATION TIME is Coming Soon - Don't Forget Us Pets, Huh? - 03/06/08 10:31 PM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Guess who was riding in my Human Dad's Car during our Spring Getaway Weekend last year? Yes, it's ME - Buddy Holly Moss!
Rumor has it we'll be driving to Iowa this year, hitting a town called Clear Lake, and their famous Surf Ballroom, to pay tribute to my late, great rock-and-roll namesake. I've already got my seat in the car picked out! Hey - Sandi Lincoln in Mason City - make sure you chill a couple of cold ones for me!
You know, over … (1 comments)
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SECEDE FROM THE COUNTY? One Chicago Suburb Considers Just That! - 03/06/08 03:09 PM
Hey, everyone!
Boy, I bet you don't see this one everyday where you are!
The Chicago Suburb of Palatine IL, angered that a recent more-than-doubling of the county's share of the State of Illinois Sales Tax, fears the new levy will hurt local businesses, and the municipal coffers, so badly - they are floating an idea to LEAVE Cook County. As you may know, Cook County is the county in which the City of Chicago, and over 70 of it's suburbs, are located.
First, a bit of recent history.
Last week, minutes before midnight on the evening of Friday, February 29th, the Cook County … (1 comments)
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CHICAGO TRANSIT AUTHORITY to Add 21st Century Convenience - Accept Credit, Debit Cards for Fare Payment - 03/04/08 05:29 PM
Hey - any strap hangers out there? (You New Yorkers know exactly what I'm talking about! Right?)
Here in Chicago, our world-renown local transit agency, the Chicago Transit Authority, has begun to install new machines in our L Train stations to accept credit and debit cards - Master Card, Visa, American Express, and Discover - to purchase individual ride or bulk fare cards for use on L trains and buses across the city.
This is a convenience breakthrough - no longer will you have to feed wads of bills into a machine to purchase your fare!
The same idea has been prevalent in New … (1 comments)
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Chicago's Wrigley Field - Changing it's Landmark Status Could Set a Bad Precedent! - 03/03/08 11:36 PM
In most parts of the world, Wrigley Field in Chicago, Home of the Chicago Cubs, is instantly recognizable - even by those who have never visited our city.
Its famous red sign, at the Corner of Addison and Clark Streets on Chicago's North Side, in our Lakeview Neighborhood (please don't call it "Wrigley-ville" around me!) Its ivy-covered brick outfield walls, its acres of Kentucky Blue Grass - the real stuff, not artificial turf! It's historic scoreboard, shown here. The ambiance, the smells, the character!
Late last year, the publicly-held Chicago Tribune Company became privately-held, as billionaire Real Estate Investor Sam Zell bought the … (4 comments)
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Chicago IL Market Statistics Update - March 3, 2008 - 03/03/08 08:08 AM
Happy New Week, Everyone -
Here are updated Chicago Real Estate Market Stats for Monday Morning, March 3, 2008.
I'm very encouraged by the improvement in the Sold Units and Sales Volume Numbers this week. These figures indicate transactions under contract earlier this year are going to closing in high numbers. The Total Active Listings figure still very much concerns us - inventory is still very high in the North Side of Chicago Neighborhoods we serve most frequently. Ideally, I would love to see this figure either remain stable or drop short term, with continued jumps in Properties Pending Sale, Sold Units, and Sales Volume. However, Pending Properties … (0 comments)
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2nd Mortgage Subordination Becoming More Difficult - Some Lenders Refuse! - 03/02/08 09:38 PM
Hey, folks!
You might remember the "salad" days of the the home mortgage market - a couple of years ago.
No real need for costly PMI! Home buyers only needed to come up with 10% down, 5% down, or even 0% down, then take an immediate second to reduce the "visible" LTV to 80%. In a year or so, many lenders advised, you can refinance your adjustable rate loan, perhaps lock in a low rate for the whole balance, and save considerable housing cost money each month.
You remember the feeling - housing will always appreciate, predictably and steadily. And that second, higher-rate, usually-interest-only mortgage, … (4 comments)
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VOIP . . . VOIP . . . Do You Use VoIP? It has Saved our Team a Lot of Money! - 03/02/08 10:36 AM
Happy Sunday, from Chicago!
There seems to be a lot of controversy on the following word, but it has saved our Team about $100 a month. Ready for the word? Here it is -
VONAGE!
We started using this VoIP Phone Service about 18 months ago, after using a similar service, now defunct, for the previous two years. Here's how it works, in layman's terms, since I am not a techie.
You buy a special phone adapter, or combined phone adapter/router, and connect it to your high-speed broadband (cable or DSL) connection on your computer. You then connect a standard cordless phone to the adapter - … (10 comments)
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CHICAGO SALES TAX - Highest in U.S. Effective July 1, 2008 - 03/01/08 11:07 AM
Last-minute maneuvering by the Cook County Board last night prevented major budget cuts in county services and health care in the county that includes the City of Chicago. But the cost to consumers across the county, and here in Chicago, was steep.
As a compromise to Cook County Board of Commissioners Todd Stroger's five-month-old proposal to increase the county share of the State of Illinois Sales Tax to 2.75%, the Board voted 9 to 7 to increase the county's tax share to 1.75%, up 133% from it's current level of 0.75%. The tax increase takes effect July 1.
Suburban Cook County … (6 comments)
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Dean Moss - Dean's Team Chicago IL Real Estate Team
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