CHICAGO NEIGHBORHOOD NEWS - January 30, 2009 - 01/30/09 05:54 PM
Finally . . . it's Superbowl Weekend, folks!  Enjoy!
What say you?  Steelers? Cardinals (formerly, a long time ago, the CHICAGO Cardinals)?
Here is our Team Member Jennifer Arcand's summary of Chicago Neighborhood News for this week.  She explores the Chicago Neighborhoods of Lakeview, Uptown, The West Loop, and Albany Park, as well as the Chicago Suburb of Oak Park IL.
Having a party or other community or civic event in YOUR Chicago Neighborhood or Suburb?  Let us know, so we can help you spread the word!
LAKEVIEW
When the Tribune Co. bought the last-place Cubs and Wrigley Field for $21.1 million … (3 comments)

Lil' Buddy's Blog: Here's a Strange Turn - Banks Losing Revenue from Fewer Customer Service Fees! - 01/30/09 06:03 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Man . . . I'm lost!  You think perhaps I should ask for directions?
Naaah!  I'm a guy - too embarassing!
If you read the business papers every day as I do, you would think that defaulting home loans are the only way banks are feeling the pinch today.  Well, no, there is apparently another current revenue drain, and it has nothing at all to do with interest payments!
Apparently, as reported by Becky Yerak in last Tuesday's Chicago Tribune, the recessionary … (3 comments)

On Loans They Have Acquired, FED To Modify Loan Terms for Some Distressed Borrowers! - 01/29/09 08:15 AM
Good Morning!
A blurb I read in yesterday's WSJ will not immediately turn the housing market around, but it's a small step in the right direction.  It could set an important example as well.
In one attempt to help many borrowers stave off foreclosure, the Federal Reserve Board has created a program to modify mortgage loans tied to the debt the agency acquired in connection with the bailouts of failing investors in Mortgage Backed Securities, including American International Group and Bear Stearns.  A total of $84 Billion in FED-held Mortgage Assets are involved here.
In a story by Wall Street Journal … (0 comments)

STING OF DEFAULT Apparently More Painful for Those With, or Offering, Jumbo Home Loans! - 01/28/09 11:14 PM
Good Evening, everyone!
Couldn't let another cold winter night here in Chicago go by without posting one more time!
It wasn't all that long ago, you know, when the biggest banks in the U.S. - J.P. Morgan Chase (and the since-Chase-acquired Washington Mutual), Bank of America, and Wells Fargo among them - originated hundreds of millions of dollars in jumbo loans.  These hefty jumbo loans exceed the Fannie Mae/Freddie Mac Conforming Loan Limit, currently $417,000 in the Chicago Metro Area, as high as $625,000 in some high-priced metro areas such as San Francisco and New York City.
From an article by Nick Timiraos … (2 comments)

CHICAGO HOME SALES SHOW ENCOURAGING BOUNCE IN DECEMBER! - 01/27/09 07:16 AM
Morning, Folks!
Want some good news?  Well, actually, the news is mixed - but any good news we can glean on a Cold Chicago Winter Morning is welcome - yes?
For the Chicago Real Estate Market, December sales actually increased versus November - 14.9% in the city, and over 8.2% around the Chicago Area.  Across the State of IL, home sales increased as well last month, by 7.38%. (Data from the National Association of Realtors, and the Illinois Association of Realtors, as reported by Alan Zibel in yesterday's Chicago Tribune).
Versus December, 2007, however, the numbers told a different story.  Home … (3 comments)

IL GOVERNOR BLAGO - What Are You Thinking, Man! - 01/27/09 12:07 AM
Yes, it's true!  I live in Chicago.  I'm a bit rough and tumble sometimes.  Always honest, I like to think, but - hey, I know the angles as well as the next Guy from Chicago!
And a life-long Dem to boot! Made my mind up when my mother and father stood up and spoke, for my little brother and me to hear, these immortal words back in '68 -
"Sons . . . your mother and I have decided to support Richard M. Nixon for President this year!"
But what's going on with our current Democratic Governor here in IL - Rod … (11 comments)

Chicago IL Market Statistics Update - January 26, 2009 - 01/26/09 07:21 AM
Good Morning!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, January 25, 2009 - 
Active Listing Inventory again showed stability last week.  Pending Sales up,  and Closed Listings - but the total numbers are small, and may not be predictive of reality accurately.  I am concerned, however, that these raw numbers are so small.  showed stability this past week.  Expired Listings fell - normal for the middle of the month.
Average Sales Price and Total Dollar Volume crashed back to earth this past week.  One year ago, Sales Volume stood at $11,121,833 - current is … (1 comments)

WHEN DISTRESSED HOME BORROWERS ARE AT THEIR WORST, Mortgage Scammers Often Pounce! - 01/25/09 10:17 PM
This is a troubling story!  It comes out of Florida, but can easily happen to well-meaning, but distressed homeowners here in Chicago.
The come-on is oft repeated - on Cable and Broadcast TV.  On the Internet.  And in Urgent-Sounding Mailings.
The scam involves companies that promise to "Stop Your Foreclosure - GUARANTEED!"  But they will do so only AFTER you send them as much as $1,000 or more in up-front "Processing and Negotiating" fees!
Now, however, as syndicated reporter Kenneth R. Harney explains in his article in last Friday's Chicago Tribune, companies taking cash up front, and promise "Guaranteed Results," better perform … (3 comments)

DESPITE CHICAGO AND IL MORTGAGE RATE FALL, Skyrocketing Unemployment Leaves Many Here Hesitant to Buy! - 01/25/09 09:22 PM
"Mortgage Rates Coming Down!"  Headlines and TV ads shout out the good news here in Chicago.
Home prices, due to high levels of inventory for sale and a nearly four out of ten short sale and foreclosure rate in some Chicago Neighborhoods and Suburbs, have fallen dramatically over the past year.  Most areas are more affordable than they have been in the past five years.
But, really, if many potential buyers are worried about their short-term prospects of keeping their job - will the lower rates really help much?
As summarized by James P. Miller in the Chicago Tribune, the IL … (1 comments)

HARDEST OBJECTION TO HANDLE - The "Hidden Objection" They Won't Tell You About! How Do You "Bring it Out"? - 01/25/09 02:33 PM
Cold, cold, cold in Chicago today!  Thirteen degrees!   Warmer where you are?  Hope so!
Writing here to anyone in the sales profession - which, if you really think about it, touches just a about everyone.  Doctors, who have to explain the benefits of their patient having a frightening procedure.  Lawyers, directing a specific course of action in a custody case.  Accountants, hoping to keep you legal, and the IRS off your back.
If you sell, you know all about OBJECTIONS.  Our Mentor noted Real Estate Trainer Floyd Wickman has developed a whole list of OHT's - Objection Handling Techniques - for … (14 comments)

CHICAGO NEIGHBORHOOD NEWS - January 23, 2009 - 01/23/09 12:33 PM
Good Afternoon, folks!
This week, in her Chicago Neighborhood News Update, our Team Member, Jennifer Arcand, updates goings on in the Lincoln Park, Uptown, and Norwood Park Chicago Neighborhoods, as well as downtown, in The Chicago Loop, and the Chicago Suburb of Naperville IL. 
Hey - do you have a Chicago or Suburban Chicago Neighborhood or Community Event coming up?  Let us know, and we'll help you get the word out!
LINCOLN PARK
Animal welfare activists and state Rep. John Fritchey (D-Chicago) met Sunday at PAWS Chicago, a no-kill animal shelter in Lincoln Park.  He announced a proposed legislation that would regulate … (0 comments)

Lil' Buddy's Blog: In Chicago, Like Nowhere Else, Dibs Rules for Parking Spots Each Winter! But, No More! - 01/23/09 05:39 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!

Dibs?  What is "dibs," you dogs?
Well, if you played Little League Baseball when you were a pup, you know it as the right to bat first, because the game is being held in your back yard.  On your turf, so to speak.
Here in Chicago, each winter, however, Dibs has a different meaning.
Unlike any other city in the U.S. this well-traveled dog has been to - including many in Minnesota, and Upstate New York, where the winter weather is often … (3 comments)

ULTRA-LOW-FIXED-RATE NEW HOME LOANS - The Latest Home Builder Incentive! - 01/22/09 10:35 PM
Hope you're warmer where you are, than it is here in Chicago.  Temperatures appear to be moderating, however - for now!  We're just below the freezing mark!
The latest promotion by a major home builder to stir sales in a continued-weak housing market comes from PA based Toll Brothers Builders.  The national builder, with several large developments in the Chicago Suburbs, is offering very low Fixed-Rate Mortgage Loans to qualified buyers for its newly-constructed homes.
As summarized in Dawn Wotapka's article in today's Wall Street Journal, Toll Brothers, whose local projects stretch from the Chicago Suburbs of Bloomingdale to Barringtion and Elgin to Morton … (2 comments)

AS FORECLOSURES RISE, J.P. Morgan Chase Considers Expanding Loan Mod Efforts! - 01/21/09 10:15 PM
Now, in an even bigger way, one of the largest mortgage lenders in the U.S. has gotten even more aggressive on attempting to stay the rising tide of foreclosed homes on its books. 
In the January 16th edition of The Wall Street Journal, Robin Sidel reports that lender J.P. Morgan Chase - one of the largest banks by retail presence in Chicago and in many other markets nationwide - is expanding its loan modification program for distressed homeowners.  It now plans to modify loans for buyers whose loans have been sold to other investors, and are no longer owned by the … (6 comments)

"CHANGE"! It's Effect, Short and Long Term, in the U.S. Housing Market? - 01/21/09 09:12 PM
Hey, folks!
Gone for a couple of days - sorry!  Fighting a bad cold, or the flu, or the heebee-jeebees, or something!  But I'm back!
What a Presidential Inauguration yesterday, huh? I was truly inspired!  Not just because my guy won (hey, I'm from Chicago - who else would I have voted for?)  But because of all the optimism, the exuberance, the fresh, positive outlook that many seem to now have about prospects for turning around a stalled U.S. Economy.
Quickly . . . we hope!
You know, over the decades and the centuries, much has been said about the impact … (5 comments)

RENTS COMING DOWN, Due to Competition, in High-End Residential Buildings in Downtown Chicago! - 01/20/09 12:19 AM
Good Evening, Everyone!
Today, many sellers of High-End Condo Units, in many of the Top, Most Exclusive Chicago Neighborhoods, are having difficulty selling their units.  To generate some cash flow - even if it is below what their house payment totals - these owners elect to lease their units.
But the greater supply of these condo units for rent, combined with a still-increasing pool of premium rentals in lease-only buildings, is driving down the rents for prospective tenants here!
These luxury condo units for rent are in very chic neighborhoods - Streeterville, River North, and The Gold Coast, among others.
And many … (5 comments)

Chicago IL Market Statistics Update - January 19, 2009 - 01/19/09 07:50 AM
Good Morning!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, January 18, 2009 - 
Active Listing Inventory, Pending Sales, and Closed Listings showed stability this past week.  Expired Listings were at normal mid-month levels 
Strong increases in Average Sales Price and Total Dollar Volume this past week, reversing the previous week's drop.  However, Average Market Time jumped considerably - likely, not a true trend - stay tuned!
Absorption Rate, including theoretical time to clear existing listing inventory, jumped to over 20 months this past week in the North and Northwest Sides of Chicago Neighborhoods we serve most … (3 comments)

RAISING YOUR STANDARDS - Has it Cost You Business? - 01/19/09 12:18 AM
Hey, Hey, Gang!
This post is not simply for those in Real Estate.  It's for everyone that sells, advises, counsels, or consults for a living.
Here it is - when you Raise Your Standards - your target client base, the level and intensity of your work, reducing the level of inefficiency in tasks, and your fee - does it actually COST you business?
Short term? Long term?
Early in 2008, our Real Estate Team tremendously boosted our Internet Presence - at some expense, I might add.  At the same time, we cut back on those tactics not proven to pay out … (10 comments)

FANNIE MAE TO ADD MORE LOAN FEES - Especially for Condo, Low-Down-Payment Borrowers! - 01/18/09 11:39 PM
Here in Chicago, the real estate market, and the condo market, continues to struggle.  Rising unemployment, tight mortgage loan underwriting standards, and too-high inventory seem to be standing in the way of a quick turnaround in the housing market here.
As summarized in Mary Umberger's column in today's Chicago Tribune, recently-introduced fees by giant U.S. Loan Guarantor Fannie Mae will add fees for those putting less than 25 percent down on their new homes and condos, or whose FICO Credit Score fall below 720, on a 850-point scoring scale.  For prospective condo buyers, including many here in Chicago, the fee would … (3 comments)

FINAL TALLIES IN FROM REALTY TRAC - CHICAGO FORECLOSURES UP 53% LAST YEAR! - 01/18/09 11:35 PM
Folks, there's good news, and there is bad news.
The bad news first - across the U.S., according to CA-Based Foreclosure Listing and Research Company RealtyTrac, foreclosure filings increased 81% in 2008 versus 2007.
The good news - well, a bit better news, anyway - foreclosures in the Chicago Metro Area, although showing a sizable increase - jumped less than the national aggregate.
According to data summarized by The Associated Press in last Thursday's Wall Street Journal, over 2.3 Million homeowners across the U.S. struggled with some stage of the home foreclosure process in 2008 - an 81% increase over 2007, according … (1 comments)

CHICAGO NEIGHBORHOOD NEWS - January 16, 2009 - 01/16/09 03:06 PM
 Keep warm, folks! 
Despite slightly moderating temps today - it's still cold as Hell out there!  (Wait . . . did the Chicago Cubs win the World Series?  Sadly, no!)
Here's this week's Chicago Neighborhood Update, courtesy of our Team Member, Jennifer Arcand.  This week, Jennifer covers the Chicago Neighborhoods of The Gold Coast, The Loop, The South Loop, and Norwood Park, and the Chicago Suburb of Naperville IL.
Do you have a neighborhood event in Chicago or the Chicago Suburbs.  Just let us know, and we'll help spread the word!
GOLD COAST
There has been much talk around town about … (1 comments)

Lil' Buddy's Blog: Chicago Arctic Weather Chilling My Lil' Paws! - 01/16/09 08:23 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Wasn't sure if you saw this Christmas Photo of me and my Human Mom, Sue Moss.  I'm the one in the red hat!
Woooof . . . it's COLD outside!  Colder than it's been as long as I've been around.  Colder than it's been in and around Chicago in 13 years!  And WINDY, too!
Right now, according to the Chicago Tribune Weather Page, it's 17  BELOW ZERO at O'Hare Airport - the official Chicago Reporting Station.  Wind from the West at 8 MPH.  Windchill … (2 comments)

NEW APPRAISAL RULES Have a Downside! - 01/15/09 04:40 PM
Cold enough for you, folks!  Here in Chicago, it's been below zero for nealy 17 hours.  Currently, FIVE BELOW!
Too cold for even THINKING!  Yes?
Today, when you buy a new home or condo and secure a mortgage for it, lenders or loan originating brokers chose a real estate appraiser from a list of local professionals the bank had a relationship with.  The appraiser is informed as to the purchase price and contract terms, and submitted the completed appraisal back to the lender.
Appraisers are licensed professionals, independent of the negotiating involved in the buy and sell process.  Their charge is … (5 comments)

A GOOD SIGN? Chicago Resale Home Inventory Falls Less Than Projected in December! - 01/14/09 10:05 PM
An encouraging trend, or an errant blip?  Hard to tell . . . but Chicago Homes For Sale Inventory fell by a smaller amount than what many experts would have predicted during the month of December.  Historically, sales fall off a bit between Thanksgiving and the New Year.
The Chicago Metro Area had 70,440 homes listed for sale at the end of December, roughly the same as a year prior.  The figure dropped 7.3% from November.
The same was true on a nationwide basis, it appears.
Nationally, inventory dipped 6.4% versus November, and 9.5% from December, 2007.  Over the last 25 … (1 comments)

CHICAGO PARKING METERS, THE NEXT GENERATION! - 01/13/09 10:27 PM
Winter here in Chicago does pose its many challenges!
Today, I parked at a metered spot near the CTA Blue Line Damen L Station, in the Wicker Park Neighborhood of Chicago.  Snow, from our last weekend's dumping, was piled up about two-feet up the meter stalk, and about two feet from the meter itself. 
I had to climb the highest mountain in Chicago, it seemed, to insert my two quarters for two hours parking.  These fees will soon quadruple in most Chicago Neighborhoods.
Meter fees will multiply by a factor of six in Downtown Chicago and The Loop, and, if Chicago … (1 comments)

CHICAGO FORECLOSED PROPERTIES, Abandoned, Ripe For Serious Winter Damage! - 01/12/09 06:29 PM
Good Evening, folks! 
If you live here in Chicago, batten down the hatches for another wild week of winter weather - 4 inches or so of fresh snow tonight, blizzard-strength winds around midnight, and sub-zero temps beginning tomorrow.
Gee, I wonder if it would be difficult to get my Aruba Real Estate License!  You think?
Wintertime - especially THIS winter, during a still-waiting-to-rebound Chicago Real Estate Market - poses special challenges on area homes, old and new.  When these houses are abandoned as a result of a bank foreclosure, damage can be catastrophic!
Indeed, you don't have to be a homeowner … (3 comments)

Chicago IL Market Statistics Update - January 12, 2009 - 01/12/09 08:48 AM
Good Morning!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, January 11, 2009 - 
Active Listing Inventory showed a very slight increase this past week, as some sellers whose listings expired at the end of 2008 re-listed them very shortly after the holidays.  Expired Listings fell to more normal levels this past week, and, although sample numbers are small, Properties Pending Sale should a healthy increase.  
While Average Market Time stayed practically unchanged from last week, Average Sales Price and Total Dollar Volume tumbled - unsure if this will be a lasting trend … (0 comments)

IL SENATOR PROPOSAL Would Allow Modification of Certain Primary Home Loans in Bankruptcy! - 01/11/09 11:12 PM
Currently, judges in cases involving personal bankruptcy have no power to modify the term and mortgage rate of the debtor's primary home mortgage.   Most homeowners, unable to repay these loans, even under the umbrella of their bankruptcy, often ended up losing their homes.  This could change under proposed legislation by IL Democratic Senator Richard Durbin.
Many lenders oppose this proposal to allow "cram downs," or loan modifications to those in bankruptcy.  According to a story by James Oliphant of the Chicago Tribune Washington Bureau, from January 9th, many warn of increased risk for mortgage lenders, resulting in less mortgage money available … (2 comments)

MORE SNOW, COMING ARCTIC CHILL Makes This Chicago Winter Another Challenging One! - 01/11/09 10:01 PM
Hey, gang - sorry for this post delay, but we've been BURIED!  Read on -
As Sue and I spent the weekend with a few hundred of our friends and colleagues this past weekend at the annual Floyd Wickman Master Sales Academy in nearby Rosemont IL this weekend, it was snowing outside.   Nearly a foot worth of "snowing outside"!
Real Estate Practitioners visiting Chicago from such exotic ports of call as South Texas, and North Carolina, and California, and Florida . . . they thought the scene looked like a Winter Wonderland.  A Picture Postcard!
Fortunately for them, they did … (3 comments)

CHICAGO NEIGHBORHOOD NEWS - January 9, 2009 - 01/09/09 11:49 AM
All set for the weekend, folks?
This week, our Team member, Jennifer Arcand, provides an update for Chicago Neighborhood News for The Chicago Loop, The Gold Coast, The West Loop, Norwood Park, and the Chicago Suburb of Evanston IL.
Are you or your organization sponsoring a get together or community event here in Chicago or anywhere in the Suburbs?   Give us a shout - we'll help spread the word!
CHICAGO LOOP
Sugar Bliss Cake Boutique opened this week in the Loop.  On their menu you can find cupcakes in more than 20 flavors. Delicious butter cream frosting and moist flavorful cake … (4 comments)

Lil' Buddy's Blog: Why is President-Elect Obama's Blackberry Causing Such a Stir? - 01/09/09 12:50 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Hey, hey, you dogs!  Buddy went out with the boys again last night, so he asked me, Gracie Moss, to fill in.  He seems a bit tired now that the holidays are over.  Perhaps too many requests to play Santa Paws!  
Buddy fans, don't worry!  He'll be back next week!
The saga of President-Elect Barack Obama and his Blackberry Smart Phone continues!  You might have figured that Mr. Obama, with his Chicago Street Smarts, would have figured this thing out already!
He … (8 comments)

ONE YEAR OUT - IL, Chicago Smoking Ban Draws Mixed Reviews! - 01/08/09 11:31 AM
Morning All!
You know, here in Chicago, and across Illinois, it has been just over one full year since a Statewide IL Smoking Ban - "Smoke Free Illinois" - took effect at the stroke of Midnight, January 1, 2008.  The legislation prohibited smoking in virtually all public spaces in IL - including bars, restaurants, sports arenas, workplaces, most hotel rooms, and in publicly-owned vehicles.
The verdict on the legislation so far?  Well, it depends on who you ask, and where you live within IL.
Some bar owners in the Southeast Suburbs of Chicago, adjacent to Indiana, where smoking in bars and restaurants … (9 comments)

IN CHICAGO, THOSE LIVING IN HOMELESS SHELTERS EXPECTED TO RISE THIS YEAR! - 01/07/09 11:51 PM
Hey, folks!
If you've got a minute, I'd like to share with you a personal story from about 15 years ago. 
It was a hot summer day, and I had parked near the Wilson Avenue Station of the Chicago Red Line L, in the then-economically-depressed Uptown Neighborhood of Chicago.  I was on my way to catch a Cub Game at Wrigley Field, about a mile south.
As I entered the station, a panhandler, likely homeless, approached me for some spare change.  It was an odd number - something like $1.78 or so - that he requested.  I caught his eye briefly, … (2 comments)

FIXING UP OR ADDING TO YOUR HOME IN 2009? Read This First! - 01/06/09 05:38 AM
Good Morning, everyone!
The U.S. Economy today has impacted every homeowner, as well as every business touching the U.S. Housing Industry.  If, in 2009, you're considering a home improvement project, you want to be sure that the general and sub-contractors you are considering will be financially viable enough to complete your project and pay their people.
You also want to assure yourself they complete their work in a professional and timely fashion.
Do you know anyone who had headaches with contractors hired to complete home repairs or improvement?  Virtually every homeowner can share at least one story where work was delayed.  Of … (1 comments)

Chicago IL Market Statistics Update - January 5, 2009 - 01/05/09 07:52 AM
Good Morning!  Welcome to the First Real Business Day of 2009 (for most of us, anyway!)
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, January 4, 2009 - 
Wow!  Active Listing Inventory took a nearly 6% fall this past week, in large part to many agent's listings that Expired on the last day of the year.  (This also explains the expected, once-each-year jump in Expired Listings, again, always on December 31st.  The increase in Properties Pending Sale increased slightly this week (small number not scientific) - but I was surprised to see … (3 comments)

WiMax! An Even-Faster Wireless Internet Service to Hit Chicago in 2009! - 01/04/09 08:44 PM
Do you feel the need for speed?  Even more speed?
I'm talking about your Internet Connection, folks (what did you THINK I was talking about?  Huhh?)
Coming to Chicago by the end of 2009 - a new, faster wireless service that will deliver service throughout the city - indoors or out - without the need for WiFi Hot Spots or Land Line Broadband Connections!  Using signals emanating from cell towers similar to those which offer phone and data service, the infrastructure is already in place, but the system is not yet ready to go online.
According to Eric Benderoff in yesterday's … (5 comments)

FOR CONDO OWNERS, MANAGERS IN 2009 - More Challenges! - 01/04/09 08:29 PM
How will the downturn in the U.S. Economy, and the still-slow U.S. Housing Market, impact Condominium Owners and Management Associations, both here in Chicago, and elsewhere, in 2009?  Intuitively, many experts predict continued tough times, as well as deferred costly maintenance.
Here is a summary of likely developments, as summarized in an article by Pamela Dittmer McKuen in last Friday's Chicago Tribune -
1.  Expect Continued-Tough Loan Underwriting Standards.  According to Ken Perlmutter of Perl Mortgage in Chicago, lenders will want to see strong down payments - a minimum of 10%, perhaps 20% in some cases.  Source of buyer's income will … (2 comments)

SALES SKILLS AND REAL ESTATE - History Provides a Lesson on the Real Power of Persuasion! - 01/04/09 05:09 PM
Hey, folks!  Hope you're enjoying the first weekend of the New Year.  Cold and gray in Chicago today - typical mid-winter weather!
Just a question, but an important one -
How important are basic selling skills - the power of PERSUASION - in the Real Estate Business - or, for that matter, ANY Sales Business today?
It goes without saying many consumers look down upon the sales profession.  Some see sales consultants as checker-sport-jacketed, too-much-make up loudmouths that don't really know anything besides feeding a line of bull.
If you look up the definition of "sell" in Webster's New Collegiate Dictionary, … (21 comments)

CHICAGO NEIGHBORHOOD NEWS - January 2, 2009 - 01/02/09 09:17 PM
Hey, everyone!
Could you believe it's 2009 already!  It seems like just the other day we were all worried about "Y2K!"
In her first Chicago Neighborhood News Post of the New Year, our Team Member Jennifer Arcand reviews happenings in the Chicago Neighborhoods of Uptown, Lakeview, The Loop, and Edison Park, as well as the Chicago Suburb of Niles IL.
Have a neighborhood, civic, or charitable event happening this year?  Let us know, and we'll help get the word out for you, via our blog!
UPTOWN

A line began to form hours before the The Peoples' Church opened their door to … (2 comments)

Lil' Buddy's Blog: NHL Hockey Comes to . . . Wrigley Field? - 01/02/09 08:08 AM
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Happy New Year, you dogs! 
Woof - I don't know about you, but I'm glad to see 2008 come to an end here in Chicago.  The sluggish market for home sellers.  Increasing scrutiny for those seeking a home mortgage loan.  The threat of foreclosures.  Escalating unemployment.
And that's not even mentioning what happened when my beloved Chicago Cubs were swept out of the National League Playoffs in October!  Much bad news indeed!
Well, as many of you know, 2009 on the North … (7 comments)

NEW IL DUI LAW AIMS TO PREVENT IMPAIRED DRIVERS FROM STARTING THEIR VEHICLES! - 01/02/09 12:24 AM
In 2009, the State of Illinois is getting tougher on drunk or impaired drivers!
A new, tougher IL Driving Under the Influence (DUI) Law will keep those convicted of even one DUI Offense from starting and driving their vehicles while impaired.  
The new law requires anyone convicted of Driving Under the Influence to install an electronic gadget that requires these drivers to test their breath before each trip, and during the trip, to assure they have not had alcoholic beverages before slipping behind the wheel.
Drivers whose breath indicates a Blood Alcohol Level of 0.024 - far lower than the IL … (7 comments)

IN CHICAGO, AND ILLINOIS - New Fees, New Laws Come With The New Year! - 01/02/09 12:18 AM
Happy New Year, folks!
Just getting a late start catching up with the day - and wanted to update you about some new fees, and some new laws, here in Chicago and in Illinois that commenced with today, New Year's Day, 2009.  The summary comes from today's Chicago Tribune, and stories by Hal Dardick and Monique Garcia. Also from the Tribune, here's a summary of the New Chicago Fees and Charges.
IN CHICAGO
1.  New Parking Meter Rates, effective today, across Chicago.  In outlying Chicago Neighborhoods, away from Downtown Chicago and The Loop, feeding parking meters formerly cost 25 cents per hour.  As soon … (0 comments)

 
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Dean Moss - Dean's Team Chicago IL Real Estate Team

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