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Chicago Bungalow Rehab... Bang for the buck - 11/30/06 11:24 PM
Chicago Bungalow Rehab It's on. My partner Jon (pictured right) and I began the planning stage of the rehab. We took an inventory of the work we will do and discussed initial floorplan changes we'll make. We'll do some wild stuff, adding a master bath and re-doing the staircase to the second level.We'll have to be creative with the second floor, kitchen and master suite (that we'll create). One of the advantages to this home, and what made me believe it was a great rehab prospect, is the large main floor bedrooms. This is rare for typical Chicago bungalows. Many bungalows have two (0 comments)
Snowmageddon Chicago: 2006 - 11/30/06 11:10 PM
Snowmageddon 2006: Will Chicago dig out? Photo of T-CREL staff... digging the good dig Snowmageddon 2006On the eve of Snowmageddon 2006, I sit before my computer monitor and wish all the fine citizens of Chicago God speed. If reports from the radio, T.V., the Chicago Association of Realtors (which may.. gasp!.. may close offices tomorrow), and most importantly, my neighbors, are correct... we will not make it through the morning.But don't worry... I'll be here at T-CREL HQ with my left over Y2K supplies in the basement (which consists of a can of Russian sardines and a flashlight covered in old (0 comments)
If I were a great blogger, I would certainly start a series on my favorite sport. Olympic Speculation. But I'm not a great blogger, I don't even have tags and categories yet (my Blogger site has not invited me for the Beta upgrade ).We here at T-CREL and Chicago Home Estates have already been playing this game. I mean... how cool would it be to bridge the whole area from West South Loop to Bridgeport to Hyde Park? West of McCormick mind you along Michigan Ave and surrounding. It's my dream of Lakeview South.We've dicussed how the Olympics would affect Bridgeport real (0 comments)
Want a mortgage? Where do you live? - 11/28/06 11:59 PM
Mary Umberger reports in today's Tribune on the continuing debate surrounding credit counseling and zip codes. The IDFPR wants to curb predetory lending in certain zip codes by requiring credit counseling for those who meet a certain criteria. But many find their suggested rule will promote "redlining" of certain neighborhoods and racial orientation.Basically, if credit counseling is to be required for consumers with bruised credit histories, it should be across the board. Although, it's hard for me to justify this requirement at all for consumers, it should cover every state citizen that meets the financial criteria. Don't stigmatize people for where (0 comments)
Just mention Chicago property taxes... - 11/28/06 11:57 PM
No one, and I mean no one, gets the whole Chicago property tax assessment thing. Sure, I can calculate taxes based on a property's assessed value and equalize it ... but who determines the assessed value? Barry Pearce lights a fire on *"Cyber Monday" at Yo Chicago , which has a great discussion in the comments concerning today's Tribune story about the sun setting on the county tax cap legislation. Why isn't this front page news? Oh yeah, Da Bears are on the front page... Nice, Chicago Tribune.Good catch Barry.The property tax in the most basic terms is figured out like (0 comments)
Searching Chicago Real Estate - 11/27/06 06:15 PM
Every client is different. Some like to search properties everyday (while at work mind you... get back to work), while others like me to narrow it down and put them in front of the places I deem worthy.For you search-a-holics... I have a great search engine linked here and in my side bar. You can narrow your search in all kinds of ways. For instance, you can just search properties in your price point that have virtual tours. In addition, you will not receive spam from using my search engine. I only send specific, personal emails and an occasional update. Give (1 comments)
John McCarron of the CTA "slow zones" - 11/25/06 12:13 AM
Good column today by one of the top reporters on public planning and regional transit. One of the most striking points is each transit agency draws on their maintenance budgets for pure day to day operations... to a combined tune of $200 million in the hole.Check out the CTA Tattler for the comprehensive news on the Chicago Transit Authority. (1 comments)
Chicago Mortgage Rates down for the Holidays - 11/25/06 12:11 AM
Overnight averages for a 30 year fixed mortgage dropped to 5.76% in the Chicagoland area. A friend I ran into yesterday at Starbucks in Lincoln Square (yes, the only place open to get coffee on Jillian's and my walk) asked what I thought would happen in the spring market... with sales and mortgage rates.First, it is generally expected that there will be an uptick in real estate transactions. This is a norm for spring statistically and will also reflect those who sat on the sidelines due to the gloom and doom reporting of this year. People wanted to wait and see (0 comments)
Pre-construction buying - 11/22/06 12:53 AM
Two particular incidences happended to me yesterday concerning new construction/new conversion properties.First, one of my clients expressed she is probably more comfortable buying a re-sale condo or a totally finished unit in a new development/new conversion.Second, I received an email yesterday from another Realtor in my network offering pre-construction prices on a new development. This was unique in the sense that they were offering the first two contracts on the development at a flat $50K savings from what they'll hit market at. Plus, they are throwing in a parking space that will be marketed at $35K.Now, who would bite on this? (0 comments)
Great article from the New York Times concerning which building improvements actually improve your re-sale value. The Times requires registration, but it's two seconds and you should be registered there anyway. Lifted it from Closing Real Estate in Chicago... the type of blog Realtors should actually read to help their clients.Listen, Lake Shore Drive... work-out room, work-out room, work-out room! $460 assessment and no work out facility!As a condo board president, maintenance and amenity decisions must be made and are substantial to property values. Welcome once again to the good times of my everyday. You learn alot about the owners at (0 comments)
Tell me how you really feel about buying in Chicago - 11/22/06 12:13 AM
Perusing my daily dose of real estate blog insanity... and when I say insanity I mean addiction. In the best possible terms.Anyway, I went back to the well, otherwise known as Rain City Guide, to see what's going on . I keep things local, so why read a Seattle area blog? For the advice, education and conversation.Today's topic? Looking into your soul and making the decision to buy a place or continue renting. Ardell writes a heart felt intervention for a particular young lady who is on advice overload. I point to this post for two reasons:First, it brings up some (0 comments)
Illinois and Chicago Home Sales Statistics - 11/22/06 12:10 AM
I have not been much on posting raw sales statistics for the Chicago area. This is popular with many real estate blogs. I've stayed away from posting the "numbers" because I believe the overall, state wide and city wide sales statistics may have little to do with an individual's situation.Crain's has the a short summary of this season's third quarter sales statistics-showing a 15% decline in overall home sales in Illinois. In Chicago, total sales were down 18%.The overall sales statistics are important, yes. And I should know this when consulting a client. But more, so, I better know the neighborhood (4 comments)
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.