After the Senate gave final approval Nov. 5th without a dissenting vote, the House of Representatives voted overwhelmingly on Nov. 6th to pass legislation containing an extension and expansion of the homebuyer tax credit, completing Congressional action and sending the tax credit which was promptly signed by President Obama.

The $8,000 homebuyer tax credit for first-time buyers, due to expire in 25 days, will be extended through April 30 of next year and buyers will have an additional two months, until the end of June, to close. First-time buyers who are in the process of making a purchase will no longer need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline. The new legislation increases the income limit for couples with income up to $225,000, a nearly $55,000 increase above the level in existing law.

For the first time, the new legislation makes buyers who already own a home eligible for a credit. A $6,500 maximum credit will be available to existing homeowners who have lived in their current residence for five of the prior eight years. The legislation limits eligibility for the existing homeowner credit to homes worth $800,000 or less.

The legislation takes effect December 1 and is not retroactive. Both credits are available only for primary residences, not second homes or investment properties.

In the House debate, Speaker Nancy Pelosi (D-Calif.) took the floor to say the homebuyer tax credit was helping a new generation of Americans live out their dream of homeownership and financial independence. Debate on the homebuyer credit was overwhelmingly positive and the legislation passed 403 to 12.

The Magic Tree Bookstore is truly an icon in the Oak Park community. This independent bookstore specializes in children's books and is celebrating its 25^th year anniversary and I say to them congratulation and thank you for your great commitment to the entire Oak Park area.

In addition to selling children storybooks, the Magic Tree also hosts many events throughout the year. Most notable has been the Harry Potter book release party. The 5^th book release party drew so many children and parents that Oak Park Avenue was closed to accommodate the crowds. I am not kidding, but this event drew thousands of people. I could barely believe my eyes!

Throughout the year Magic Tree will be hosting a variety of children's authors and illustrators. To find out more visit their website at http://www.magictreebooks.com .

If you are new to the Oak Park area or just visiting be sure to stop in and explore this fascinating place called the Magic Tree Bookstore.

If you are a Buyer considering moving to the Oak Park, River Forest, Forest Park area I am pretty certain you are aware of all the major benefits our communities have to offer. Benefits such as the great schools, historic architecture, culture and diversity, and the convenient proximity to downtown Chicago and both airports to name a few. 

However, I would like to fill you in on some additional benefits you will enjoy when you make your move here. They are as follows:

 · Great breakfasts at Grandma Sally's and Al's Grill

· Baked  French onion soup at Golden Steer

· Encrusted rack of Lamb at Marion Street  Grille

· Stuffed artichoke at Mancini's

· Soft shell crabs & sidewalk café at Poor Phils

· Ice cream at Brown Cow & Peterson's

· Pizza at Geppetto's

· Homemade soups at George's

· Pizza strudel at Pompei

· Reuben sandwich on rooftop deck at the Avenue Ale House

· Mousaka at Papaspiro's

· BBQ ribs at Mickey's

· Tomato pepper steak at #1 Chop Suey

· Coffee at Blue Max & Nola's Cup

· Chicken Vesuvio at Jimmy's Place

· Gnocchi at LaPiazza

· Lamb Shank Osso Buco at Café De Luca

· Sunday brunch at Café Winberie

· Pasta Verdure at Francesca Fiore

· Tandori chicken at Khyber Pass

· Pastas at Cucina Paradisio

· Cheeseburgers at Goldy's

· Shepards Pie at Molly Malone's

· And great homemade take home meals from The Perfect Dinner 

This list could go on and on but space does not allow it. Have a great day!

In last month's column I wrote about a very outdated Bylaw that is contained in most condo Association‘s Declarations. This Bylaw, "the right of first refusal" is preventing the majority of qualified buyers from purchasing condos that are currently on the market.

With the current real estate market being in the state it is in today most qualified condo buyers need to come up with at least 10 % down for a conventional loan. These buyers are good buyers with great jobs but simply do not have the ability to come up with a 10% down payment.

However, they most likely can come up with at least 3% down and the only loan product that exists for them is the FHA loan. Well, according to FHA guidelines, condo Associations cannot in any way have this "right of first refusal" contained in the Declarations. It is looked upon as potentially discriminating. I also mentioned that in my entire career as a Realtor, I along with my colleagues I spoke with, have never seen "the right of first refusal" exercised.

Since last months column ran I have been approached by many people applauding the fact we need condo associations to amend the Bylaws. These people are Realtors, local lenders, mortgage brokers, real estate attorneys, Title companies and yes, the general public.

Please understand by amending your associations Bylaws to strike out "the right of first refusal" you will be doing a multiple of good. You will get condo units in your building exposed to a much greater pool of very qualified buyers, you will help in getting these units sold faster, you will be preserving and most likely increasing the value of you entire building's units and finally helping a fellow neighbor who may be in dire straits to sell his or her unit. Please view this as an absolute win for everyone involved.

There are many condo associations in our 3 villages of Oak Park, River Forest and Forest Park. Most likely there are more than 100 condo associations and very few of them are FHA approved. It is  important to note that the condo buildings that do not have this bylaw are  the recent condo conversions and new construction developments. Why is this? It is because these developers get it. They want to attract the greatest number of buyers and if you visit these buildings you could never tell the difference between a conventional owner or a FHA owner. It is simply the different type of financing a buyer wishes to use.

There is another wrench in this whole mess and that is the VA loan. These are loans especially designed for our service men and women. VA guidelines also do not allow the "right of first refusal" to be contained in a condo's bylaws. How sad it is that these great Americans, some coming back from the war can't qualify to purchase a condo using a VA loan.

I understand that most condo associations probably don't realize the possible implication of this bylaw with never thinking  for a moment that they would ever exercise this option. I too live in a great condo building that is run by a very qualified and diverse group of people. I could never think they would ever kick out a qualified buyer and buy the unit using association monies.

I encourage our local governments to support in some way a resolution to assist and encourage condo associations to drop this archaic, useless, and potentially discriminating Bylaw. We need this done now and I would me more than happy to help. However, ultimately this is the condo association's decision and I respect that decision whatever it may be.

Gary Mancuso is the current president of the Oak Park Area Association of Realtors and is a Realtor with Re/Max In The Village, Realtors.

At the time of this writing, June  2008 there are about 600 condos and townhouses for sale in Oak Park, River Forest and Forest Park

As you know all condominium associations have what is called condo "Documents and Bylaws" that for the most part outline the rules and regulations that govern that association. Over the years many of those bylaws were assembled by using what's called "boiler plate" or a predetermined master document that contains the basic guidelines. As an association becomes established these bylaws are amended to the wishes of that Association.

One of the "boiler plate" bylaws contained in these documents gives the condo association the ability of what is called the "right of first refusal." What this means simply is that if a condo unit in a building that is about to be sold, the association has the right of first refusal. That is, if the association wishes to purchase that unit for whatever reason, they have the right by way of this Bylaw to kick out the potential buyer and purchase the unit themselves.

And here is where the problem lies. As we all know, in years past acquiring a loan to purchase a home or condo was a lot simpler than it is today. Folks could qualify for a loan with little or no money down. Those days are gone forever (thank goodness) and today's buyers must come up with a very significant down payment. Well, many and perhaps even most potential buyers don't have this significant down payment. However, there is a loan product that allows just 3% down and is backed and guaranteed by the federal government. This loan type we all know as the FHA loan. This product is making a big come back in this current real estate market and most likely will continue to be a major player in loan products for many years to come.

If you happen to be a condo buyer, this FHA loan, will for the most part not be available to you. The fact is that FHA guidelines do not allow condo associations to have contained in their bylaws the "right of first refusal" and this is for obvious reasons. In all the years I have been selling real estate I never once seen a condo association exercise that "right of first refusal." Never once have I witnessed a condo association kick out a potential buyer and in turn that association buys the condo unit.

My advice to condo associations is simple. Strike this outdated, useless, potentially discriminating restriction from your bylaws, open up your condo units to be offered to the entire real estate buyer community. This will allow more buyers seeing your units and we all know that the more buyers viewing the property will promote more offers which will lead, in turn, to potentially higher prices for that building and the stabilization of a market flooded by condo units.

Shed that stigmatism you may have towards FHA loans and embrace the comeback of the FHA loan that will help restore the American dream of home ownership.

Gary Mancuso is the current president of the Oak Park Area Association Of Realtors and is a Realtor with RE/MAX In The Village. 708-386-1400

Believe it or not, due to higher gas prices, there just may be a silver lining down the road for the Oak Park area in regards to home sales. Don't get me wrong, these high gas prices are affecting our entire country in an adverse way. However, our three villages of Oak Park, River Forest and Forest Park are positioned very well to take advantage of this situation.

We all know the reasons why people move to the Oak Park area, great schools, culture, architecture, diversity and of course location.  This last reason, location is becoming more and more important to people. I have talked to many Realtors and they all agree with me that our area has become even more appealing as gas prices continue to soar.  For me personally, I am currently working with buyers from as faraway as Vermont and as close as Lombard, all wanting to move here because they simply cannot afford the commute by car.  They are attracted by the 3 train lines that run through our villages, especially the 17 minute commute on the Metra to downtown Chicago.  Even if driving by car, our location is far more convenient and economical than any of the further out suburbs.

With the real estate market in its current condition I would like to recommend the following:

Why not let the powers that be from Oak Park, River Forest and Forest Park along with the Chambers of Commerce and along with the Oak Park Area Association of Realtors pool some of their resources in a collective manner and develop an advertising campaign to promote the advantages of relocating to our fine communities. A campaign similar to the very successful radio ad spots Forest Park conducted a year ago. Advertising such as this could help spur the sale of residential properties, stabilize home prices, and supoort and encourage economic development.  This to me would appear to be a no-brainer. Let's take advantage of this situation, I personally would offer my assistance if asked.

Gary Mancuso is the current President of the Oak Park Area Association of Realtors and is a Realtor with RE/MAX in the Village, Realtors.

Oak Park Real Estate | Forest Park | River Forest

Were you thinking Oak Park Illinois was just homes, local commerce and schools? Did you think it was only famous for the Ernest Hemingway‘s childhood home or Frank Lloyd Wright residence?  Well it has much more to offer its residence!  Try spending some time with your children, grandchildren or just yourself at one of the 24 amazing parks in Oak Park.

From North Avenue to Roosevelt Road the city of Oak Park maintains parks and recreation for your family.

Just to keep you in the loop, here is a list of some of the major over halls happening to the Oak Park Parks! You can visit the parks and recreation website for more details on the terrific job the city is doing renovating the parks here. They also provide some great pictures so you can get a feel of what is happening and where.

Fox Park has some major improvements happening this summer involving the Whale Water area, new swings and a wheelchair friendly ramp for the restrooms.

Longfellow Park major work begins in August, 2008 and the city of Oak Park is going all out. Besides the new synthetic slip-resistant surfaces the park will have a water play area which will relocate the Seal Spray to a more accessible part of the park. Creative play areas for pre-kindergarten children and equally creative area for older kids will include drums to bang, bells to clang and even a sign language panel.  With all this good stuff you need to know the park will be closed from August, 2008 to November, 2008, but you can walk by to see the progress anytime.

Austin Gardens is a unique park. It is home to an ice rink and Oak Park Festival Theatre. The month of July, 2008 has the Shakespearian play "Much Ado About Nothing" scheduled Thursday, Friday and Saturday starting at 8PM. Entrance to Austin Gardens on the eastside will bring you directly to the theatre.  August shows can be found on the calendar of events at the Oak Park Festival Theatre website.

You will be able to find more information about all 24 parks on my website later this month.  Come by and visit anytime.

 Oak Park Real Estate | River Forest Illinois | About Gary Mancuso

Manners are more important than simply not repulsing the person next to you when you eat. They are a part of a larger picture. Simply put: Manners keep the world civilized.

If we stop teaching our children manners, our society will be in a heap of trouble! Practicing manners leads to caring about others which in turns makes this world a better place to live. Teaching manners is the front line of kindness.

Have you ever had a stranger pick up something you dropped? They were taught manners which led them to be kind to you. Holding the door for the next person, giving up your seat in the waiting area of the restaurant for an elderly person, helping your neighbors search for their lost pet, pitching in when your coworker is having a bad day, donating to a worthy cause, supporting our troops regardless of your position on the war, serving at a food line for the homeless and hungry, forgiving even when we can't forget, these are acts of kindness beyond resting the napkin on your lap while you eat.

Practicing manners is exhibiting kindness. If we gradually become a world of people who have not been taught to care about how their actions can make others feel, as a society, we slide down a slope that will be most unpleasant when we hit bottom. Manners are very much a part of our world. It is the gift of compassion that we can generously share, regardless of wealth. Manners are the heart and soul of the human race.

What is the best way to teach manners?

By example! Of course with young children, words are required but more often than not, children will use their eyes much more often than their minds. Show them how good it feels to 'do unto others as you would have other do unto you.'

There is not much difference between random acts of kindness and manners. They are entwined into the core of humanity. Strengthen the ties that connect us and teach manners by both words and actions. Add to the glory of the human race.

Kids are gearing up for summer fun and Parent are just plain gearing up…
summer Stuff Below I have listed a few summer camps I have located in our area. There are still openings so hurry before all those juveniles run amok!

Village Players Performing Arts Center Summer Camp

ID Technology Camp –    Includes camps for film making, 3D gaming, and game and web design. Classes are day, extended day or overnight. Camps for kids 7 – 17.

School Daze, Presented  by Oak Park District 97. The offer all kinds of craft classes, academic and band camps.

Places to Visit or Volunteer for the summer

Oak Park Parks - Park District Facilities - Wonder Works has loads of summer classes - Ernest Hemingway Museum  – Frank Lloyd Wright Foundation  -

Volunteer Center of Oak Park and River Forest offers volunteer opportunities for both children and adults.

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As you begin your house hunting process, you will probably already have a good idea of what type of home you are looking for. For example, you might know the size and style of the home you want to purchase and you might have a general idea of the city or town in which you want to live. Of course, it is important for you to share this information with your Realtor so you can be certain to find the home of your dreams. At the same time, there is plenty of information that your Realtor can provide to you that will also help you in your decision making process. Therefore, you should be certain to ask plenty of questions and to utilize your Realtor's knowledge to the fullest extent possible.

Finding Out About Schools

If you have a family or plan to start a family in the foreseeable future, schooling will likely be quite important to you. Therefore, you might want to ask your Realtor to help you acquire information about the school district you would like to live in. Many Realtors will not guarantee that you will be in a specific school district because these district boundaries can change. Nonetheless, he or she should be willing to help you find out what the current district boundaries are. In addition, the Realtor should be able to help you look up information about the school district, such as the scores the school has received on standardized testing and what the current teacher/student ratio is a the school.

Learning About Utilities

In addition to helping you find school information, your Realtor should also be able to help you learn more about utilities for the home you are considering purchasing. For example, the Realtor can help you find out whether or not the property is served by city water and sanitation. You will also be able to find out who supplies the electricity and gas to the home as well as whether or not cable is available on the property.

Zoning Information

You can also ask your Realtor to provide you with zoning information. If you think you might like to start a business in the home at some point, for example, you might want to look for property that is commercially and residentially zoned. The zoning may also have an impact on the resale value of the home, so it is worth your while to look into this information before making a purchase.

Remember, your main purpose is to find a home where you can enjoy living for the next several years and where you can feel comfortable with raising a family if you so desire. Similarly, you want to make a good investment, so take advantage of the knowledge the Realtor possesses so you can get the best of both worlds.

Gary Mancuso Oak Park Homes  River Forest Illinois

A Zoo in general is always a pleasure to young and old alike. From the cotton candy to the snakes behind glass zoological organizations go well beyond international borders. 

When planning on a visit to the West Chicago Burbs one must think of Brookfield, Illinois. A quiet mostly residential town which happens to be the home of the nationally acclaimed Brookfield Zoo. When ever I have relatives or friends coming to visit, the zoo is naturally on the list for things to do.

Thanks in part to Edith Rockefeller McCormick ( yes, daughter of THE John D Rockefeller) who donated the first 83 acres to the Forest Preserve District of Cook County in the early years of the turn of the century. I doubt back then she knew exactly how wonderful her dream of a modern Zoo would be. She did not live to see the opening of the Brookfield Zoo in the summer of 1934.

The zoo was soon recognized for the innovation and unique way of displaying the wild animals using moots and cage-less arenas. All eyes were on the Brookfield Zoo when they opened the First in the U.S. exhibit of the Giant Pandas, an interesting and lovable creature that has captured our hearts ever since.  Throughout the years leading up to today, the zoo has a serious side as well; becoming a force in the genetics, behavioural and nutritional advances and studies.

On a lighter note the Brookfield Zoo, from it's opening in 1934, continues to be home to Cookie the Cockatoo who is tauted as being 74 years young and still enjoys watching all the people go by. So the next time your company is thinking of a place to hold their national business meeting, or annual award ceremonies or even the employee of the month bash, think about having it at the Brookfield Zoo.  I understand they have even had a wedding or two.