Gregory Olson's Blog

4 Reasons to Sell NOW!!

Gregory Olson (REMAX Suburban) — Wed, 17 Feb 2010 10:15:17 -0800

4 Reasons to Sell Now

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.

1. Sell low and buy low. Because all property values are down, the sellers' loss on a property is really only a paper loss because the next property they buy also will be a bargain. If they buy smartly, when prices come back up in a few years, they'll be in better shape.

2. Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for "down-payment assistance programs" and the name of your region.

3. Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.

4. Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business

Tips For Finding The Perfect Neighborhood!

Gregory Olson (REMAX Suburban) — Wed, 17 Feb 2010 09:34:15 -0800

Greg Olson/REMAX Suburban/Cell (847) 977-7024

Tips for Finding the Perfect Neighborhood

Your neighborhood has a big impact on your lifestyle. Follow these steps to find the perfect community to call home.

•· Is it close to your favorite spots? Make a list of the activities - movies, health club, church, etc. - you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you're considering to engage in your most common activities.

•· Check out the school district. This is especially important if you have children, but it also can affect resale value. The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, visit schools in the neighborhoods you're considering. Also, check out www.schoolmatters.com.

•· Find out if the neighborhood is safe. Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type - such as burglaries or armed robberies - and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?

•· Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don't necessarily diminish value, but do mean a more transient population. Do you see vacant businesses or homes that have been for sale for months?

•· See if you'll make money. Ask a local REALTOR® or call the local REALTOR® association to get information about price appreciation in the neighborhood. Although past performance is no guarantee of future results, this information may give you a sense of how good of an investment your home will be. A REALTOR® or the government planning agency also may be able to tell you about planned developments or other changes in the neighborhood - like a new school or highway - that might affect value.

•· Make personal observations. Once you've narrowed your focus to two or three neighborhoods, go there and walk around. Are homes tidy and well maintained? Are streets quiet? How does it feel? Pick a warm day if you can and chat with people working or playing outside.

Tax Credit News for your Buyers!

Gregory Olson (REMAX Suburban) — Wed, 27 Jan 2010 17:09:24 -0800

Good news homebuyers: You can file for your $8,000 first-time buyer tax credit again.

Bad news: You can't e-file your taxes if you want the cash. And there are long delays.

Last Thursday, CNN revealed that buyers who purchased their properties after Nov. 6 were unable to claim the refund because the Internal Revenue Service had yet to release a new form and instructions. But on Friday, the IRS finally posted the new form 5405.

First-time buyers used to able to immediately file for the tax credit after Congress approved it last February as part of the stimulus program. All they had to do was file an amendment to their 2008 tax returns (the ones they filed last April) and claim the promised refund of 10% of the purchase price, up to $8,000.

They were able to e-file, and they received their refunds promptly. But on Nov. 6 the rules changed. That's when Congress extended -- and expanded -- the tax credit, which was originally scheduled to expire on Nov. 30.

And these new buyers can no longer file electronically. They have to mail in paper forms, including the new 5405, whether they are amending their 2008 taxes or claiming it on the 2009 taxes that are being filed this spring.

Due to the abuse of the credit, IRS now requires that applicants now file documentation with their taxes -- including proof of residency, a signed mortgage statement and drivers license -- which the e-file system is not equipped to handle, which dramatically slowed down the refund process. Taxpayers are looking at another three months before they get their returns as a result.

Navigating Short Sales!

Gregory Olson (REMAX Suburban) — Tue, 15 Dec 2009 17:24:14 -0800

Greg Olson, REMAX Suburban

You Have Options!!

Navigating Short Sales: What to Do When the Sale Price Leaves You Short

If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.

1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:

•· Refinancing your loan at a lower interest rate

•· Providing a different payment plan to help you get caught up

•· Providing a forbearance period if your situation is temporary

When a loan modification still isn't enough to relieve your financial problems, a short sale could be your best option if

•· Your property is worth less than the total mortgage you owe on it.

•· You have a financial hardship, such as a job loss or major medical bills.

•· You have contacted your lender and it is willing to entertain a short sale.

2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.

A qualified real estate professional can:

•· Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).

•· Help you set an appropriate listing price for your home, market the home, and get it sold.

•· Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).

•· Ease the process of working with your lender or lenders.

•· Negotiate the contract with the buyers.

•· Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can't sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.

3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale "package" that accompanies any offer typically must include

•· A hardship letter detailing your financial situation and why you need the short sale

•· A copy of the purchase contract and listing agreement

•· Proof of your income and assets

•· Copies of your federal income tax returns for the past two years

4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender's review of the short-sale package can take several weeks to months. Some experts say:

•· If you have only one mortgage, the review can take about two months.

•· With a first and second mortgage with the same lender, the review can take about three months.

•· With two or more mortgages with different lenders, it can take four months or longer.

When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender's loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)

5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:

•· You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can't pay back the balance, talk with your real estate attorney about your options.

•· Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.

•· Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.

Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.

Tips For Finding the Perfect Neighborhood!!

Gregory Olson (REMAX Suburban) — Thu, 10 Dec 2009 14:46:42 -0800

Greg Olson/REMAX Suburban

Cell (847) 977-7024

Tips for Finding the Perfect Neighborhood

Your neighborhood has a big impact on your lifestyle. Follow these steps to find the perfect community to call home.

5 Factors That Decide Your Credit Score!

Gregory Olson (REMAX Suburban) — Fri, 04 Dec 2009 14:34:47 -0800

Greg Olson, REMAX Suburban

5 Factors That Decide Your Credit Score

Credit scores range between 200 and 800, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:

1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.

2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it's a good thing if you have a good proportion of balances to total credit limits.

3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer's oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.

4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.

5. The types of credit you use. Generally, it's desirable to have more than one type of credit - installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com.

Navigating Short Sales!

Gregory Olson (REMAX Suburban) — Tue, 01 Dec 2009 11:34:56 -0800

Greg Olson, REMAX Suburban

· Refinancing your loan at a lower interest rate

· Providing a different payment plan to help you get caught up

· Providing a forbearance period if your situation is temporary

When a loan modification still isn't enough to relieve your financial problems, a short sale could be your best option if

· Your property is worth less than the total mortgage you owe on it.

· You have a financial hardship, such as a job loss or major medical bills.

· You have contacted your lender and it is willing to entertain a short sale.

A qualified real estate professional can:

· Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).

· Help you set an appropriate listing price for your home, market the home, and get it sold.

· Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).

· Ease the process of working with your lender or lenders.

· Negotiate the contract with the buyers.

· Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can't sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.

· A hardship letter detailing your financial situation and why you need the short sale

· A copy of the purchase contract and listing agreement

· Proof of your income and assets

· Copies of your federal income tax returns for the past two years

· If you have only one mortgage, the review can take about two months.

· With a first and second mortgage with the same lender, the review can take about three months.

· With two or more mortgages with different lenders, it can take four months or longer.

· You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can't pay back the balance, talk with your real estate attorney about your options.

· Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.

· Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.

Tips for Hiring a Contractor!

Gregory Olson (REMAX Suburban) — Fri, 20 Nov 2009 15:04:05 -0800

The Better Business Bureau (BBB) consistently ranks contractor fraud as its number one complaint. Don't be a victim. If you (or someone you know) is thinking about hiring a contractor, please read or share these tips straight from the BBB before signing anything.
Obtain bids (from at least three licensed contractors) based on building specifications, quality of materials, labor and time to complete the project.

Ask for customer references, and be sure to contact them. If possible, check out previous work.

Contact the Better Business Bureau (BBB) for a report on the contractor and review site thoroughly for further advice.

Ask to see the contractor's pocket license and another form of ID.

Call the Contractors State License Board to see if the license is valid and if a bond is in place.

It's very important that your contractor have property damage and personal liability insurance coverage, and, if the contractor has any employees, workers' compensation. Insist that the insurance broker send you certificates of insurance.
Remember, a contractor may not ask for more than ten percent of the total contract price, or $1,000 (or two percent or $200 in the case of swimming pools), whichever is less, as a down payment. (Insist upon a lien release from all subcontractors and suppliers before you pay for any work).

Anything you sign may constitute a contract. Before you sign a final contract, be sure it includes the following:
the name, street address (not just a post office box), and local telephone number of the contractor;

if you must obtain a loan to pay for the project, that the agreement is valid only if you obtain financing at a given rate;

a written description of all work to be done, including a detailed description of the kind and quality of materials to be used;

a bid based on the job, not by the unit;

a price breakdown for both labor and materials;

starting and completion dates;

the schedule for releasing payments to the contractor;

a written statement reiterating any oral promises made by the contractor or sales representative, including any warranties on materials or labor;that the contractor will obtain the necessary building permits.
Don't sign a completion certificate until you're satisfied that the job has been completed according to the contract and inspection has been completed by local building authorities.

Lose Your Job...Keep Your Home!

Gregory Olson (REMAX Suburban) — Wed, 18 Nov 2009 17:31:26 -0800

Lose Your Job, Keep Your Home

If you're faced with a layoff, there are ways to escape foreclosure and stay in your home.

Few words sting like the ones that inform you that you're being laid off - especially today, with jobs so hard to come by. If you're a homeowner, the blow of a job loss can be even worse.

In households with more than one wage earner, halving the monthly income can severely stretch a budget. And in households where there's one breadwinner, having zero income can be devastating. A rainy-day fund helps, but it's important to craft a plan early about how you're going to get through the rough patch.

More people are facing this nightmare today: While the volume of subprime mortgages headed to foreclosure is falling, the volume of prime, fixed-rate mortgages defaulting is on the rise, according to statistics from the Mortgage Bankers Association.

"If you don't have the prescribed three to six months income in the bank (now eight to 12 months due to how long it takes to replace that job), you're really in deep trouble with some troubling decisions to make," said Gail Cunningham, vice president of public relations for the National Foundation for Credit Counseling, in an e-mail. The NFCC is a national, nonprofit credit-counseling network.

"We always advise people to pay their living expenses in full (this includes the house payment), followed by any secured debt (usually the car payment), and then the creditors. This will keep a roof over your head, food on the table, utilities paid, medicine in the cabinet, the kids at day care, etc. Once the money runs out, no one beneath that line gets paid. However, this assumes that there's either some savings to fall back on or another income source," she said.

Between programs offered by the government and loan servicers, additional options are available for today's homeowners before they slip into foreclosure - if they speak up and ask for help. Or maybe the best answer is to start over again by cutting your losses and selling your home or pursuing a short sale if you owe more on your mortgage than your home is worth, those in the industry say.

Whichever road you choose, it's important to contact the lender or servicer as soon as you know you could have a problem on your hands - and before you get behind on your payments. The MBA has a listing of contact information for lenders and servicers, including links to Web sites that give consumers a glimpse of some of the help that is offered.

"A lot of customers call us very late in the process, and it becomes extremely difficult for us to explain everything in one shot and to resolve everything to their satisfaction," said Sanjiv Das, CEO of CitiMortgage.

Early communication is also stressed at Chase, said Christine Holevas, a bank spokeswoman. Remember also to be open and honest about your financial situation. You may think you're bettering your chances for help by fudging on income information, for example, but it will in fact slow the process down; when income is verified and is found to be false, you'll have to start over again, she said.

For help, there are counselors who will sit down with you and sort through options and paperwork. Chase, for example, has counselors at 27 homeownership centers throughout the country to assist its borrowers, Holevas said. The U.S. Department of Housing and Urban Development has a list of approved housing counselors, or homeowners can connect with a counselor through the NFCC site.

Government modifications
The solution that has gotten some of the most press this year has been the government's Home Affordable Modification Program, which lowers monthly payments for borrowers based on debt-to-income ratios. Borrowers have to successfully complete a three-month trial period before the modification is finalized.

Some homeowners are still confused about who is eligible, said Greg Hebner, president of MOS Group, a loss-mitigation service provider that works with lenders and servicers.

For one, the program "requires a hardship, but does not require you to be delinquent," Hebner said. "That is an important consumer misconception - if I'm still making my payments, there is no help for me."

But what the government does require is some amount of monthly income in the household, said Drew Kessler, director of sales for Rand Mortgage, in New City, N.Y. In a dual-income household, for example, if one person loses his or her job, a modification is a possibility. With one breadwinner, it probably isn't.

"There has to be some viable source of income," Kessler said. "If they lost wages, or found a new job, the banks will work with them."

Kessler's advice: It might be best to accept a job that pays less instead of holding out for one that is best-suited to your salary history, in order to qualify for the adjustment.

"A borrower also has to be in danger of imminent default to be eligible," Holevas said.

"They're going to take a look at what your liquid assets are," she said. "If a borrower has more than seven months worth of payments in savings, he or she is not yet in imminent danger of falling behind and likely won't be able to modify," she said.

If you do qualify, it's important to submit complete and accurate information in order for the application to move through the process without hiccups, Holevas added. If you don't, "the back and forth tends to really slow things down," she said.

"Remember, if you don't qualify for the government's program, many mortgage servicers have their own modification plans," Holevas said. "All options can be examined if you start early enough."

"Contact your lender when you think you're going to have a problem," she said, "even if you're a couple of months out from not being able to make your payment."

Other avenues
A variety of other options are available, depending on the company that services your loan and other characteristics of your mortgage.

A few examples:
- If your mortgage has been bought by Fannie Mae, there's a HomeSaver Forbearance program for those in default or if default is imminent. With HomeSaver, a borrower needs to have a willingness and ability to make reduced monthly payments of at least half of the regular payment - including taxes and insurance and any other escrow items. That period of forbearance lasts six months, during which time the servicer works with the borrower on a more permanent solution.
- If your mortgage is serviced by CitiMortgage, there is a program that allows borrowers to pay a flat $500 mortgage payment for three months after the loss of a job, said Das of CitiMortgage.
- Genworth, a private mortgage insurance firm, offers job-loss protection on some of the loans it insures, paying up to $2,000 directly to the servicer for up to six months in the event the homeowner loses his or her job. The benefit period stays in place for up to three years after the loan closes, if the PMI remains in place on the mortgage. PMI is typically required when a borrower's down payment is less than 20%. It can be canceled once there is at least 20% of equity in the home.

Cutting bait
"For some homeowners, it might make more sense to sell their home and start fresh.
Home sales are up recently in many markets, and if you're living in a home that would be attractive to a first-time buyer eligible for the government's first-time buyer tax credit, you might be able to take advantage and make a sale before the credit expires at the end of November," Kessler said.

"Maybe sell now and get yourself in a smaller property, a less costly property," he said.

For homeowners who owe more on their mortgage than their home is worth, short sales can be a viable option. In a short sale, the home is sold for less than the mortgage amount - with approval from the lender - and the difference is forgiven.

"Short sales usually take longer than a traditional sale, so borrowers might want to seek out a real-estate agent who is a certified default property expert in order to expedite the process," said Rich Rollins, president of National Quick Sale, a firm that works with the mortgage industry to get short-sale offers processed. His firm also helps match up investors with distressed properties, working out deals that allow the homeowners to give up ownership but rent their home, with the potential for them to "rent to re-own," he said.

He warns, however, to be careful of unsolicited offers of help from people claiming they can save your home, he said.

"Be very wary of people who approach you for a profit or fee upfront," Rollins said.

"You've got to be diligent because there are people out there trying to steal your money," he said. "You're already in a precarious position. Don't let people take advantage and take the money that you do have."

Saving Energy - Helpful Household Hints!!

Gregory Olson (REMAX Suburban) — Wed, 18 Nov 2009 15:39:31 -0800

Saving Energy :

1) Plant deciduous shade trees on south and west side of house.

2) Close all doors and vents in rooms not in use.

3) Install whole house fan to draw in cool evening air.

4) Exchange traditional light bulbs for fluorescents.

5) Install storm doors on all exterior doors.

6) Check, and repair if needed, caulking on all door and window frames.

7) Wrap all heating and air ducts with insulation.

Another Hint: If you want to know the value of a home you own, or would like to own, call us for a free professional evaluation. We want to work for you!

Presented by Greg Olson
RE/MAX Suburban, Arlington Heights, Illinois
847-977-7024
E-mail: Remax.Greg1@gmail.com eBusiness Card / My Home Page

Top Tips to Improve your Credit!

Gregory Olson (REMAX Suburban) — Tue, 17 Nov 2009 06:29:42 -0800

1. Review your current credit report for accuracy. Everyone is entitled to one free credit report per year from each of the three credit bureaus-Experian, Equifax, and TransUnion. Get a copy of your credit report and look at it for accuracy. First, make sure that the information in your file is about you and only you, not someone who has a similar name or a similar Social Security number. It is very common for your credit reports to have mistakes or incorrect information. At a minimum, make sure that the information you are being evaluated on is current and correct.

2. Repair credit report mistakes. If you find something on your credit report that is incorrect or missing, you should dispute the mistake by contacting the credit bureaus directly. All credit bureaus have their dispute procedures on their website. They are also required by law to investigate any disputed items and these investigations will usually be done within 30 days of your request.

3. Pay your bills on time. Sounds like a no-brainer, right? Payment history accounts for roughly 35% of your credit score. Paying bills on time is the most important thing to do. If you're struggling to catch up, contact your creditors to work out a payment schedule.

4. Increase the length of your credit history. This accounts for about 15% of your score. Don't cancel your old card or get a lot of new ones in a short time span because this can hurt your score.

5. Keep credit card balances low. It's a good idea to keep the balances below 25% of your available credit. Even if you pay off your credit cards every month, a high average balance will impact your score. This accounts for about 30% of your credit score.

6. Keep new credit requests to a minimum. This accounts for 10% of your score. Every time a lender runs your credit, an inquiry is recorded. If you are trying to get a loan, don't apply for new credit cards first.

7. Be aware that paying off a collection account will not remove it from your credit report. It will stay on your report for seven years.

8. Pay off debt rather than moving it around. The most effective way to improve your credit score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.

9. Beware credit-repair scams. By all means, don't pay someone to wipe away the negative items in your file. If they don't follow through, the damaging items will reappear in two or three months.

HOT NEWS---IT'S DONE, THE TAX CREDIT EXTENSION HAS BEEN SIGNED INTO LAW & THE ADDITION INCLUDES A REDUCED CREDIT FOR EXISTING HOME OWNERS

Gregory Olson (REMAX Suburban) — Fri, 06 Nov 2009 16:28:20 -0800

Clocks 'Fall Forward' for Homebuyers, as President Obama Signs Off on Extension of First-Time Homebuyers Tax Credit
November 06, 2009: 11:52 AM ET
PARSIPPANY, N.J., Nov. 6 /PRNewswire-FirstCall/ -- Following months of speculation and Congressional debate, President Obama today signed the "Worker, Homeownership and Business Assistance Act of 2009" into law, extending the popular First-Time Homebuyer tax credit originally scheduled to expire on December 1, 2009. This new legislation offers those in the process of buying a home more time to take advantage of this significant tax benefit, allowing them to claim the credit if they close on a first-time home purchase by midnight on June 30, 2010.
According to the IRS, the credit has provided a tax benefit to more than 1.4 million* taxpayers as of September 2009. The credit enables those buying a primary residence for the first time to claim 10 percent of the purchase price of their home, up to $8,000 for single taxpayers or married taxpayers filing jointly.
"This is very good news for consumers looking to purchase their first home, particularly those who are still weeks away from closing on their purchase and would likely have just missed the original deadline," said Mark Steber, chief tax officer, Jackson Hewitt. "Nearly a million and a half people have benefited from this credit, so with an additional seven months to the closing timeframe, so many more will now have the chance to benefit as well."
Earlier this month, Jackson Hewitt reminded taxpayers of the guidelines for eligibility. Details are available at http://jacksonhewitt.com/content.aspx?id=97299.
The new provisions include the following changes:
Taxpayers must purchase their home, or be locked into a contract to close, before midnight on April 30, 2010. The closing must occur before midnight on June 30, 2010.
The credit is allowed in full for those with incomes up to $125,000 ($225,000 if married filing joint). The credit is reduced for taxpayers with an income between $125,000 and $145,000 ($225,000 and $245,000 if married filing joint) and is not available for taxpayers with an income higher than $145,000 ($245,000 if married filing joint).
Taxpayers (and their spouses) who have lived in their home for five consecutive years out of the eight years preceding closing on a new house may qualify for a reduced credit ($6,500 or $3,250 for those who file separately).
More information about the extended First-Time Homebuyer credit, other home-related tax considerations and additional provisions cited in the recent act is available online at www.jacksonhewitt.com.

Visit my website at www.gregworks4u.com for continued updates!

Home Buyers Tax Credit Update - 11/5/2009

Gregory Olson (REMAX Suburban) — Thu, 05 Nov 2009 13:54:21 -0800

$8K tax credit - amount remains the same for first time home buyers

Extension - will be for sales contracts entered into by April 30, 2010, and escrow closed in 60 days

Homeowners included - $6.5K tax credit for existing home owners as long as they've been in their homes for 5 consecutive years in the past 8 and meet the income limits

Income limits increased - Single $75K-> $125K and Married $150K->$250K$225K (updated by CQ, 10:41 am PT)

AND - the White House endorsed the plan a few hours ago this morning.

And that is the latest!!

Basic Definition of a Short Sale!

Gregory Olson (REMAX Suburban) — Tue, 20 Oct 2009 09:15:32 -0700

Here is your basic definition of a short sale. I have realized in recent months that most of my clients have no idea what a short sale is! I have a great (but rather extensive document) that explains in detail exactly what a short sale is. Knowledge is the king and I am finding that in my businees most of my buyers once informed are staying away from these...the timing (or complete lack of any timeframe) just doesn't seem to work for my buyers!!

"A short sale is a situation in which the real estate seller owes more money on the loan(s) secured by the real estate than the sale of the property will likely produce on the market. The seller is in a distressed situation, but the bank/lender has not yet taken title from the seller through the foreclosure process. At this point, there might be a window of opportunity for the seller to put the real estate on the market and try to sell it in order to at least partially satisfy the lender who holds the mortgage"

Record Streak Continues for Pending Home Sales!

Gregory Olson (REMAX Suburban) — Sat, 17 Oct 2009 09:28:43 -0700

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to latest survey. The Pending Home Sales Index rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5. Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. "The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules," he said. "No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month."

Good news I guess...but you really wonder how many of these pending sales are short sales that will never close!!

Overpriced Listings - Worth it??

Gregory Olson (REMAX Suburban) — Tue, 13 Oct 2009 16:30:14 -0700

I was always under the impression that honesty is the best policy. But what I am seeing in today's real estate market with respect to listings that just doesn't seem to be the case. When I perform a comprehensive CMA for a client I go through great extremes to make sure the information I provide them is complete and accurate. Inevitably there is a price "range" in which the home should be listed in order to be sold. Seems simple enough, but I have noticed in not getting these listings there is usually one deciding factor. The agents getting the listing are telling the sellers more of what they want to hear rather than the truth. Am I missing the boat here....should I be taking the listings at the higher price and just waiting until the proper reduction gets the seller the activity they need and eventually the sale? I am looking for some professional thoughts on how other agents are handling this situation. An overpriced listing that eventually gets reduced into the proper price range will sell.....any thoughts???

Overlooked FHA Loan Ideal for Foreclosure Buyers - 203K Loans

Gregory Olson (REMAX Suburban) — Tue, 06 Oct 2009 17:56:18 -0700

Hidden away in the deep recesses of the federal government is a one-shot financing plan which will allow you to not only buy foreclosures but also to pay for repairs and upgrades.

The FHA's 203(k) program has been on the books for decades but over time it's been rarely used. That's changed recently, in part because the program is ideal for many foreclosure buyers.

How It Works
With the 203(k) program you get financing to purchase or refinance an existing home (it has to be at least a year old) plus additional dollars to fix it. Since the government doesn't want you to take that extra money and just go to Vegas, it provides the construction money in draws as the repair work is completed after closing.

This program, of course, works perfectly for foreclosure buyers because it covers both the cost of acquisition as well as the expenses that may be required to improve the property's condition.

Unfortunately, the 203(k) plan does not work perfectly for everyone.

Details
In basic terms there are three groups of foreclosure buyers: Those who want residential property for themselves, those looking for investment real estate and those who want both. Two of these three groups are possible users of the 203(k) program.

-- Yes, you can use 203(k) financing to purchase a home which you will use as a personal residence.

-- Yes, you can use 203(k) financing to purchase a home with one to four units, provided that you physically occupy one of the units as your personal residence.

-- No, you cannot use a 203(k) to acquire or refinance a pure investment property, one you do not use as a personal residence. Investors have been banned from the program since 1996.

Why would you want FHA 203(k) financing?

Those after-closing draws and inspections represent additional work for lenders, thus you can expect to pay somewhat higher fees. That said, the 203(k) program is still a good deal because it's far cheaper to get acquisition and construction money in one loan rather than two. This is because there's a single settlement and thus only one set of closing costs, one set of taxes, one origination fee, etc.

The 203(k) program also comes with attractive terms. For instance, HUD says you can get financing equal to the "as-is" value or the purchase price of the property before rehabilitation, whichever is less, plus the estimated cost of rehabilitation. Alternatively, you can get a loan equal to 110 percent of the "after-improved" value of the property.

Lastly, the 203(k) program is an FHA loan. That means no prepayment penalties and no surprise rate increases. You'll need to fully document income, debts and assets, but that's a low barrier for anyone who pays taxes and has financial records.

Limits
To come up with the right loan amount you need to know the value of the property and you need to have a good sense of what the improvements will cost. Not all improvements can be financed under the program and the maximum available for repairs in $35,000.

"Luxury items and improvements are not eligible as a cost rehabilitation," says HUD. "However, the homeowner can use the 203(k) program to finance such items as painting, room additions, decks and other items even if the home does not need any other improvements. All health, safety and energy conservation items must be addressed prior to completing general home improvements."

Home Buyer's Tax Credit Changes Possible

Gregory Olson (REMAX Suburban) — Fri, 02 Oct 2009 09:03:43 -0700

Home Buyer's Tax Credit Changes Possible

The first major change to the $8,000 home buyer's tax credit began moving through Congress the last week of September, giving hope to real estate and building groups pushing for extension of the entire program before it expires November 30, 2009.

House Ways and Means Committee chairman, Congressman Charles Rangel, a New York Democrat, combined several smaller bills into the "Service Members Home Ownership Act of 2009", with a floor vote expected soon.

The bill is intended to correct a flaw in the original tax credit legislation: By requiring buyers to occupy and own their first home for 36 months to fully qualify for the credit, the program creates serious problems when military, Foreign Service and intelligence agency personnel are transferred overseas.

During their absence, they are not occupants of their houses, and sometimes have to rent them out or sell. Any of these events make them ineligible to retain the $8,000 credit under current law. Ineligible buyers must then repay the credit to the IRS.

Oregon Congressman Earl Blumenauer, sponsor of one of the bills consolidated into Rangel's, said "it is absurd that thousands of Americans serving our country, away from friends and family ... must choose between their service work and home ownership."

The Ways and Means committee's bill would waive the repayment requirement when a service member must sell a home within the 36 month period because of a transfer to a new duty station or overseas, and would count service-related absences toward the 36 month requirement.

Another provision in the bill would extend the $8,000 credit for another year for personnel who may have missed out on claiming the credit because they thought they wouldn't qualify due to an overseas posting.

The credit for these individuals would be extended to November 30, 2010 from November 30, 2009, provided the served outside the U.S. for at least 90 days during calendar year 2009.

The bill, which has bipartisan support, could be sent to the Senate for action as early as next week, Congressional sources told Realty Times.

More important for the housing market overall, however, is the precedent set by the bill's extension of the credit for an extra year. It's not a far leap from that position to a general extension of the entire $8,000 credit program to the same date.

The National Association of Realtors, National Association of Home Builders and the Mortgage Bankers Association jointly sponsored an ad campaign aimed at convincing Congress to give the credit program another year.

$8,000 Tax Credit Still Available!!

Gregory Olson (REMAX Suburban) — Mon, 07 Sep 2009 12:04:41 -0700

Less than 90 days left to get your first time buyers tax credit. Must close by November 30th! Visit my website or give me a call on my cell at 847-977-7024 for details!!!

New Financing Now Available!!

Gregory Olson (REMAX Suburban) — Thu, 27 Aug 2009 12:34:57 -0700

Just when we thought we couldn't sell those condo's! Wells-Fargo now has a 5% conventional loan plan for all those great condo's that are not FHA approved! Now let's get that tax credit extended and things will continue to pick up!

Just Listed in the Highlands of Hoffman Estates!!

Gregory Olson (REMAX Suburban) — Wed, 05 Aug 2009 10:48:01 -0700

CHECK OUT THIS GREAT NEW LISTING!!!

<< 1 of 9 >>

Detached Single	MLS #:	07289787	List Price:	$348,000
Status:	NEW	List Date:	08/04/2009	Orig List Price:	$348,000
Area:	194	List Date Recvd:	08/04/2009	Sold Price:
Address:	1605 DENNISON RD, Hoffman Estates 60169	Contingency Flag:
Directions:	HILLCREST TO NEWPORT SOUTH TO FREDERICK WEST TO DENNISON (LEFT TURN)
Sold by:		Listing Market Time:	2
Off Market:		Contract:		Points:
Closed:		Financing:		Census Tract:
Year Built:	1963	Built Before 78:	Yes	Currently Leased:	No
Ownership:	Fee Simple	Subdivision:	Highlands
Model:	Riviera	Dimensions:	147X82X135X83
Corp Limits:	Hoffman Estates	County:	Cook
Township:	Schaumburg
Rooms:	9	Bedrooms:	4	Bathrooms:	2
Master Bath:	Yes	Basement:	Yes	Basement Bath:	Yes
Parking:	Garage	Cars:	1	Fireplaces:	1

School Data

Elementary:	WINSTON CHURCHILL ELEMENTARY SCHOOL (54)
Junior High:	EISENHOWER JUNIOR HIGH SCHOOL (54)
High School:	HOFFMAN ESTATES HIGH SCHOOL (211)
Other:

Coordinates

North:	12
South:	0
West:	24
East:	0

Assessments

Amount:	0
Frequency:	Not Applicable
Special:	No

Tax

Amount:	$3,940
PIN:	07094020100000
Mult PINs:
Tax Year:	2008
Tax Exmps:	Homeowner

Miscellaneous

Waterfront:	No
Wall Insul:
Ceil Insul:
Appx SF:
Acreage:

Room Name	Size	Level	Flooring	Win Trmt	Room Name	Size	Level	Flooring	Win Trmt
Living Room	20X13	Main Level	Hardwood	Yes	Master Bedroom	14X12	Main Level	Hardwood	Yes
Dining Room	12X10	Main Level	Hardwood	Yes	2nd Bedroom	12X10	Main Level	Hardwood	Yes
Kitchen	13X12	Main Level	Vinyl	Yes	3rd Bedroom	11X10	Main Level	Hardwood	Yes
Family Room	24X14	Lower	Wood Laminate	Yes	4th Bedroom	13X12	Lower	Carpet	Yes
Laundry	18X14	Lower	Other	No	Foyer	10X8	Main Level	Vinyl	Yes
Storage	10X8	Lower	Other	No

Age:	26-50 Years
Air Cond:	Central Air
Amenities:	Park/Playground
Appliances:	Oven/Range, Dishwasher, Refrigerator, Washer, Dryer
Attic:
Basement:	Full, Walkout, Finished
Bath Amn:	Shared Master Bath
Dining:	Separate
Driveway:	Concrete
Electricity:	Circuit Breakers
Equipment:
Exterior:	Aluminum/Vinyl/Steel Siding, Brick

Features:	Deck, Patio, Balcony
Foundation:
Exst Bas/Fnd:
Fireplace:	Location-Family Room, Wood Burning
Garage:	Attached, 1.5 Car Garage
Parking:	Deeded Sold Separately
Occ Date:
Kitchen:	Eating Area-Table Space
Heating:	Gas, Forced Air
Water:	Public
Sewer:	Sewer-Public
Oth Impr:	Curbs/Gutters, Street Lights, Streets Paved
Exposure:	W (West)

Oth Info:	School Bus Service
Lot Desc:	Corner, Fenced Yard
Lot Size:	.25-.49 Acre
Asmt Incl:	None
Const Opts:
Other Rooms:
Possesion:	Closing, Immediate
Roof:	Asphalt/Glass (Shingles)
Style:
Type:	Raised Ranch
Sale Terms:	Conventional, FHA, VA

Remarks: GREAT CORNER LOT LOCATION IN THE HIGHLANDS! BEAUTIFUL HARDWOOD FLOORS THROUGHOUT! SO MUCH NEW/NEWER - ROOF/PLUMBING(08), FURNACE/AC(03), SIDING/WINDOWS/FENCED YARD W/I LAST 10 YEARS. BEAUTIFUL PROFESSIONALLY LANDSCAPED YARD! INTERIOR FEATURES/ RECESSED LIGHTING/OAK DOORS/WOOD BURNING FIREPLACE AND ENJOY GREAT VIEWS FROM YOUR DECK OFF OF THE KITCHEN. THIS IMMACULATE HOME CAN BE YOURS! IST TIME/FHA BUYERS WELCOME!

Agent Remarks: GREAT LOCATION IN THE HIGHLANDS!

Internet Listing:	All	Remarks on Internet?:	Yes	Addr on Internet?:	Yes
VOW AVM:	Yes	VOW Comments/Reviews:	Yes
Listing Type:	Exclusive Right to Sell	Holds Earnest Money:	Yes	Lock Box:	Sentrilock - Silver
Coop Comp:	2.5%-$150	Special Comp Info:	None
Showing Inst:	CALL L.O. AT 847-577-9797 (EXT 0) Schedule a Showing
Owner:	OOR	Ph #:	847-977-7024	Agent Owned/Interest?:	No
Broker:	RE/MAX Suburban (8098)	Ph #:	(847) 577-9797
List Agent:	Gregory Olson (88718)	Ph #:	(847) 977-7024	Email:remax.greg1@gmail.com
Co-lister:		Ph #:		More Agent Contact Info:	WWW.GREGWORKS4U.COM

Moving Day

Gregory Olson (REMAX Suburban) — Mon, 03 Aug 2009 13:26:10 -0700

Moving:

1) While packing, keep your pets with a neighbor or in their kennel.

2) Make sure to pack a box of bath and kitchen items to be moved in your car for quick and easy access.

3) Label all sides of each box with the room the box belongs in and the items that are in the box.

4) Number all boxes and check them against a list to make sure that all are accounted for and arrive safely.

5) Call beforehand to ask local stores to save boxes

Another Hint: If you want to know the value of a home you own, or would like to own, call us for a free professional evaluation. We want to work for you!

PS: will appear here if you enter (Additional) Message at the Mail Submission Screen

Presented by Greg Olson
RE/MAX Suburban, Arlington Heights, Illinois
847-977-7024
E-mail: Remax.Greg1@gmail.com eBusiness Card / My Home Page

July Newsletter

Gregory Olson (REMAX Suburban) — Mon, 03 Aug 2009 13:23:48 -0700

Greg Olson
847-977-7024
Remax.Greg1@gmail.com
RE/MAX Suburban

Seen a home that you want to know more about

There's no need to wonder about the price or features. And there's no need to expose yourself to a high-pressure salesman or unwanted sales pitch. Just call me and I'll get the information for you. No hassles and no obligation!

Drinking Enough Water

75% of Americans are chronically dehydrated.

One glass of water shuts down midnight hunger pangs for almost 100% of dieters.

Lack of water is the #1 trigger of daytime fatigue.

8-10 glasses of water a day could significantly ease back and joint pain for up to 80% of sufferers.

A 2% drop in body water can trigger short-term memory loss and trouble with basic math, and difficulty focusing on the computer screen.

Drinking 5 glasses of water daily decreases the risk of colon cancer by 45%, slash the risk of breast cancer by 79%, and one is 50% less likely to develop bladder cancer.

Did You Know That...

...checked bags are the most annoying airline fee, according to 54 percent of U.S. respondents. Sixty percent of travelers said they factor checked fees into their overall airline ticket price. However, 36 percent have been surprised by the cost of checked baggage fees upon arrival at the airport. Nineteen percent said they always carry-on a bag to avoid additional fees, while 39 percent often do.

...home swaps are becoming more popular as a way to save while on holiday. They're good for families or small groups traveling together to share the expense.

...the travel industry is "self-correcting" when it comes to economic downturns. It may be THE best time to travel and get travel bargains. Airlines, hotels and tour operators are slashing prices and offering extras like they haven't in a long time. You might have to do a little looking for those bargains, but they're out there.

...taking Pepto-Bismol, can help prevent travelers' diarrhea. Take two tablespoons of the pink stuff four times a day and you should be good to go (or not go...pun intended). Pepto-Bismol tablets are also effective and with today's security rules on packing liquids and medications, they may be the better choice. Pepto-Bismol is considered a medication, so you can pack more than just 3 ounces.

...when traveling, you should always carry a written copy of your medical history that includes the following information: Name, address, phone number and email address...Blood type...Vaccination record...Name of your doctor and doctor's address & emergency phone numbers...Copy of health insurance that includes your policy number...A list of current health problems like heart disease or diabetes...Record of all allergies...The phone number of someone at home who can be readily contacted in case of an emergency.

How to Avoid Getting Bumped

Here are some tips for the next time an airline wants to take your seat away:

•Get there early. The later you arrive, the greater your chances of getting bumped.

•If the airline suggests you call or log on to confirm your reservation, do so.

•The sooner you obtain a boarding pass, the better. If your airline allows you to print it out at home the day before your departure, do so. When you have connecting flights, ask about getting boarding passes for all legs if possible.

•Don't throw away any paperwork issued to you, including reservation confirmations, tickets, boarding cards, etc.

•Keep good records. Record dates, times, airline(s), flight numbers, airports and employee names and/or ID numbers.

•If you do get bumped, it's your right to insist on cash or check compensation; you don't have to accept tickets or vouchers.

•If you're delayed for several hours or even overnight, invoke the airline's Contract of Carriage provisions for providing phone cards, meals, accommodations, etc.

•If you get bumped, ask about the status of your checked bags. It's usually problematic when passengers and luggage travel separately.

•Remember: Always stay calm and polite, no matter what.

Answer to trivia question: France

Quick Links

Homes for Sale Real Estate Listings Home Values Real Estate Trends Mortgage Info

9 Secrets That Hotels Don't Want You to Know

Summer is the time when most people plan their travel and that usually means a stay in a hotel. You want a hotel to be your home away from home, but many aspects of hotel pricing and policy are anything but homey. Here's what you need to know...

Get the best rate by calling the hotel's local number, not the 800 number, which usually links callers to an off-site center. Ask to speak with the Manager on duty, the General Manager, or the Director of Sales. These people have the authority to negotiate room rates.

Rooms are more expensive in the morning. The best time of the day to make a reservation by phone is right after 6pm. This is when hotels wipe out all the no-show reservations that were unsecured by a credit card. They then offer these rooms at bargain rates.

Everything is negotiable. Think parking is overpriced? If the lot looks half empty, offer less than the daily rate. Planning to make a lot of phone calls? Some hotels offer a per-day flat fee for long distance in the U.S. and local calling - usually $9.95 - but you must ask for it.

Rooms are available even when a hotel has no vacancies. In any large hotel, a few rooms usually are listed as "out of order". The problems might be something as simple as a stain on the carpet or a chair that has been sent out for repairs. If you're desperate for a last-minute room, tell the manager you are willing to take an out-of-order room that has only a minor problem.

A thief takes one credit card, not your entire wallet. It's no secret that crime is common in hotels. The new twist is that some hotel thieves now take just one credit card when they find an unguarded wallet in a room - and leave everything else untouched. Often, the victim doesn't notice the card is missing until the credit line is maxed out.

Travel only with the credit cards you really need, and check your wallet carefully if you accidentally leave it unattended.

It pays to tip the housekeeper every day. Exchange a few pleasant words with the housekeeper if you see him/her - and leave a $2 or $3 tip each day. You'll get better service. Housekeepers are the most overworked, underpaid, under appreciated people in the hotel, so any gesture will be appreciated.

Knowing the housekeeper also reduces the chances that your room will be burglarized. Dishonest housekeepers are less likely to target guests they have met. And if a thief enters your room while it is being cleaned and pretends to be you - a common ruse - the housekeeper will be able to spot the imposter.

Your bags aren't safe with the bellhop. Even in elite hotels, luggage can be stolen right off the luggage carts in the lobby. Though these bags theoretically are in possession of the bellhop, the hotel assumes no legal responsibility for the loss

If your bag is going to sit for more than a few minutes, ask that it be placed in a secure room. Keep valuable items in the hotel safe. And the cheaper or uglier your luggage looks, the greater the odds that a thief will target someone else.

Hotel rooms are infested with germs. Certain items in hotel rooms never get cleaned. The biggest trouble spots include the TV remote control, telephone, and clock radio. Travel with a package of antibacterial wipes, and use them to clean these items.

Also, while reputable hotels provide fresh lines, bedspreads might be cleaned only once every few months. Remove them from the beds when you check in. Ask for clean blankets as soon as you arrive.

The lost and found is a great resource for cell phone users. If you use a cell phone, odds are that someday you'll forget to bring your recharging cord or lose it in transit. If you're staying at a hotel, there's no need to buy a replacement. Recharging cords are the No. 1 item left behind in hotel rooms. Most hotels are willing to lend cords from their lost and found - but guests rarely ask.

Tips For Great Cruising

Cruises are a great way to take a relaxing vacation, but there are some things to know if you've never taken one. Here are some tips to help you out:

Go a Day Early. Stay in a hotel in the city where the ship is sailing from the night before the cruise. It takes the stress out of misconnections, bad weather and lost luggage.

Cruise Off Season. Europe is jam packed and too hot in summer. Try going on a European cruise in April, May, or from mid-September through November. Not only will the crowds be thinner, chances are cruise rates and airfare will be lower. In Alaska, April, May and September are the best times to go.

Don't Start Small. Taking a short three, four or five-day cruise to test the waters is not a good idea. Many cruise lines put their older ships in the short cruise market and look for revenues from drinking and gambling to counter the lowball pricing. If you're not a party animal, start off with a seven-day cruise on one of the newer ships.

Indemnify Yourself. If you're blowing a big wad on a cruise, it makes sense to protect your investment with third-party insurance. Cost of insurance is generally about 6 percent of the total cost of the cruise. You'll be covered if you have to cancel the cruise.

Send Your Suitcases Ahead. Ship your luggage from home to the boat to avoid airport hassles. For shorter cruises it especially makes sense. Imagine arriving in Rome for a seven-day cruise and having your bag lost by the airlines. By the time your suitcase is found (if it is found), your cruise may be over and your vacation ruined.

Choose the Right Cabin. Never take a room on the promenade deck, where runners and walkers are hoofing it past your windows. To hedge against seasickness, choose a cabin amidships (in the middle of a deck) and on a lower deck, as close as possible to the ship's center of rotation. Definitely avoid cabins directly below the loud pool deck, sports deck, gym or restaurants. Try to avoid rooms with a connecting door to the next cabin. Nothing is more frustrating than the nearly paper-thin door which barely separates you from the wailing infant, romantic couple or family with teens next door.

Stay on the Ship's Radar. Though it may cost more (you can't use miles) and could be a more circuitous route than you'd book yourself, the big benefit of booking airfare through the cruise line is you'll be on the ship's radar if your flight is delayed or cancelled. It's the cruise line's responsibility to get you on the ship one way or another. If you book your own airfare and miss the boat (and didn't purchase cancellation insurance), meeting up with the ship at the next port is on you.

Bag the Right Balcony. Cabins with balconies are great, but before you book one, make sure it's not a dud. Some ships (Princess Cruises' Grand Class, Celebrity's Galaxy and Mercury, for example) have tiered decks like a wedding cake, which means no privacy-people on the higher balconies can see down on the people below them.

Can You Answer The Trivia Question?

In every issue you get the opportunity to challenge your mind and amaze your friends with the depth of your trivia knowledge by answering our trivia question. It is easier than ever to travel to foreign countries, but some are much more popular than others.

What country is the top tourist destination?

A) United States B) France C) China D) Italy E) Germany F) England

The answer is at the end of the letter!

Nutty Facts And Trivia

For every dollar spent on the internet .42 cents is spent on travel.

Travel and tourism is a $1.6 trillion industry in the United States. If one dollar bill equaled a second of time, then $1.6 trillion would equal almost 51,000 years.

Chicago's O'Hare International Airport is the world's busiest airport. An airplane takes off or lands every 37 seconds.

The shortest scheduled airline flight is from the Scottish island of Westray to its neighbor island, Papa Westray. Flight time: 2 minutes!

Istanbul is the only city in the world located on two continents, Europe and Asia. In its thousands of years of history, it has been the capital of three great empires - Roman, Byzantine and Ottoman. Istanbul changed hands through out history but it served as capital city for 1900 years to various Empires.

When asked about their seating preference, 53 percent of travelers prefer the aisle, while 42 percent would rather have a window seat.

Spending by resident and international travelers in the U.S. averages $2 billion a day, $84.5 million an hour, $1.4 million a minute, and $23,500 a second.

Donkeys kill more people every year than plane crashes.

A recent survey found that more than 50% of tea crazy Brits pack teabags before jetting off on a foreign holiday.

Many hotels employ "Sleep Directors" that have the fabulous and odd job of testing out all those cozy hotel beds before you do. Their job is to determine if a mattress is too firm or too soft, and whether the design of the hotel room will keep you from dozing into dream worlds.

Live On A Houseboat

Houseboats are becoming more and more popular in the United States as a way to have an exciting home. The use of houseboats can be traced back to the 40s when some people needed a means of being able to stay on the water surface for long terms. Many houseboat enthusiasts consider Kentucky's Lake Cumberland to be the birthplace of American houseboating. There are also many houseboats in Portage Bay and Lake Union in the city of Seattle in Washington. Nowadays, there are houseboats that incorporate more than 2000 square feet, of living space. While most American houseboats are built and designed for use in waterways and inland lakes, there are some that can be used along the coastal areas. Most American initially experience houseboating through vacations and become hooked. Houseboats can be fun to live in because they offer a different and exciting way to live on water.

"A dog is the only thing on earth that loves you more than he loves himself."
-Josh Billings

"Tact is the knack of making a point without making an enemy."
-Isaac Newton

"A happy family is but an earlier heaven."
-Sir John Bowring

"My luck is so bad that if I bought a cemetery, people would stop dying."
-Rodney Dangerfield

Real Estate Corner

Q. When will my home ever regain the value it has lost since 2006?

A. I get this question a lot and I answer it this way. If you purchased your home more than 5 years ago, you have not lost any money. That may seem incredible, but consider this. Traditionally, real estate will appreciate about 4%-5% per year. This has been true as far back as records have been kept.

But, during the period from 2000-2006, real estate shot up a staggering 89%! That was the abnormality. If you had sold during this time, you would have made a lot of money...and if you bought during this time, you have lost a lot and it will be a long time, if ever, before you recover those losses.

So a home purchased before the "bubble" will continue to accrue value at the historic rate and if you didn't sell, you missed an opportunity at a windfall...but you did not lose money.

We need to go back to the traditional way of thinking about real estate to a time when people thought of home-ownership as an integral part of their lives. A place to raise a family, celebrate occasions, improve upon and see as a long-term investment that would gain in value at a slow, steady rate. A home was part of the family, not a way to make a fast buck.

But during 2000-2006, real estate became regarded as a get-rich-quick investment vehicle in much the same way as a stock. Get in at any cost and make a lot of money fast because it was going to continue to escalate in value at a wild pace forever.

Lenders contributed to the problem by relaxing their requirements to enable virtually anybody to buy a home, whether they could afford it or not.

But, inevitably, what goes up must come down. But don't think of the downtrend as a crash. It is a return to "normalcy" where once again real estate will take its rightful place in our society and once again become the slow, steady, reliable investment it has always been.

I welcome all your real estate questions and will do my best to answer them. Just call me.

Gardening Tip

Gregory Olson (REMAX Suburban) — Mon, 03 Aug 2009 13:20:18 -0700

Studies show that a well-kept garden increases the value of your home by up to 11% in some cases. A nice garden is a symbol to potential buyers that your home has been maintained, and is a comfortable place to live. Let's face it: a beautiful garden just plain makes your house look better!

Another Hint: If you want to know the value of a home you own, or would like to own, call us for a free professional evaluation. We want to work for you!

Presented by Greg Olson
RE/MAX Suburban, Arlington Heights, Illinois
847-977-7024
E-mail: Remax.Greg1@gmail.com eBusiness Card / My Home Page

Downtown Palatine, IL Studio Rental Now Available!!

Gregory Olson (REMAX Suburban) — Wed, 17 Jun 2009 09:14:04 -0700

$850 Per Month!!

<< 1 of 8 >>

Residential Rental	MLS #: 07228883	STAT: PCHG	AREA: 67
LDR:	05/29/2009		CTGF:
LD:	05/29/2009	LISTING MRKT TIME:20	RP: $850
OMD:		SELLING OFC:	ORP: $900
RENT DT:		SELLING AGT:	RNP:
ADDRESS:	140 W Wood St UN 317	FURN RENT RATE:
CITY:	Palatine	ZIP: 60067
SUB/COMPLEX: PARK TOWNE	TNU:
Directions: PALATINE RD TO SMITH TO WOOD
BLT:	1974	B78: Y

CRP: PALATINE	CNY:	Cook	TWN:	PALATINE	CT:		FLN:	3
RMS: 2	BR: 0	BTH:	1	MBB:	N	FP:
BMT: N	BB: N	PKN:	S	CARS:	1	WF:	N
DIM: PER SURVEY	ASF:		SDP:	$900	SHL:		SRR:		FUR:
PTA: N	MPW:	BAP:		DAYS:		LPF:		HPF:

ROOM NAME	SIZE	LEVEL	FLOORING	WIN TRMT	ROOM NAME	SIZE	LEVEL	FLOORING	WIN TRMT
Living Room:	19X12	3rd Level	Wood Laminate	Y
Dining Room:		Not Applicable
Kitchen:	7X6	3rd Level	Wood Laminate	Y
Family Room:		Not Applicable
Master Bedroom:		Not Applicable
2nd Bedroom:
3rd Bedroom:
4th Bedroom:

COORDINATES:	NORTH:	16	EAST:	0	WEST:	21	SOUTH:	0
GRS:	District #: 15	JH:	District #: 15	HS:	District #: 211


AGE:	26-50 Years, Recent Rehab	HEA:	Gas
AIR:	Central Air	IMPW:	Public
CAA:	Coin Laundry, Elevator, Pool-Outdoors	IMPS:	Sewer-Public
APP:	Oven/Range, Microwave, Dishwasher, Refrigerator	IMPO:
BAS:	None	INF:	Commuter Train
BAT:		KIT:
DIN:		LDS:
DRV:		MGT:	Manager On-site
ELC:	Circuit Breakers	MRI:	Cooking Gas, Heat, Water, Parking, Pool, Scavenger, Exterior Maintenance, Lawn Care, Snow Removal
EQP:		OTR:
EXP:	E (East)	PET:	No Pets
EXT:	Brick	POS:	Immediate
FAP:	Credit Report	ROF:
FPL:		TPC:	Loft
FND:		TLR:	1 Year Lease
GAR:	On-Site	UFE:
PAR:	On-Site

Remarks: DOWNTOWN PALATINE STUDIO NOW AVAILABLE FOR IMMEDIATE OCCUPANCY (MINIMUM 1 YEAR LEASE). WALK ACROSS THE STREET TO METRA STATION AND WALK TO ALL DOWNTOWN AMENITIES. AVAILABLE IMMEDIATELY! UNIT OVERLOOKS POOL AREA OF COMPLEX. AMPLE PARKING AS WELL. NEW LAMIMATE FLOORING AND FRIDGE IN UNIT. GREAT LOW RENT ALTERNATIVE...TAKE A LOOK TODAY!!

Agent Remarks:

INTERNET LISTING: All	REMARKS INTERNET: Y	SCI:	None
VOW COMNTS/REVS: Y	VOW AVM: Y
ADI:	Y	HEM:		LIST:	Exclusive Right To Sell
CC:	$350
SHO:	CALL LISTING OFFICE 847-577-9797 EXT 0	LBOX:
OWNER:	OWNER OF RECORD	AON:	N	PHONE:	847-577-9797
BROKER:	RE/MAX Suburban	ID#:	8098	PHONE:	(847) 577-9797
AGENT:	Gregory Olson	ID#:	88718	PHONE:	(847) 977-7024
CO-LIST:		AAN:	www.gregworks4u.com	EMAIL:	greg.olson@resub.com