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: David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent
: David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent's Blog
: Archives April, 2011
What You Need to Know About Short Sales - 04/30/11 06:03 PM
If it seems like short sales have suddenly exploded in the real estate arena, it’s not your imagination.
Once considered relatively rare, short sales have become a common phenomenon in recent years thanks in large part to the banking and mortgage crisis.
To find out if you can benefit from a short sale, here’s some helpful information about the practice.
What Is a Short Sale?
Short sales occur when the bank and seller agree to a purchase price for real estate that is less than the original mortgage amount and does not cover the entire cost of the existing debt obligation.
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Ways to Figure Out If a Fixer-Upper Is Worth It - 04/30/11 05:51 PM
Deciding whether to purchase a fixer-upper or go with a home in need of fewer repairs isn’t always simple.The following information can help you calculate the true cost of purchasing a fixer:Supplies, Labor and Time: Whether you do the job yourself or hire outside labor, repairs and renovations are notorious for costing more than you planned. If the home can’t be lived in while repairs are made, the additional cost of covering the mortgage, taxes and insurance while the home is vacant can also substantially add to the total cost.
Taxes and Insurance: Improvements often add to the cost of property taxes and … (0 comments)
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Making Repairs? Essential Equipment for Every Toolbox - 04/29/11 08:21 PM
A properly stocked toolbox is essential if you’re buying your first home or gearing up to take care of a few necessary repairs and renovations. The following are a few items you might need:
Power Drill: There’s a reason the humble power drill has become one of the most popular tools among homeowners and craftsmen alike. It makes easy work of hundreds of household projects. From hanging shelves to installing cabinets, a power drill should be at the top of every list. Be sure to pick up drill bits and other accessories.
Tape, Glue and Other “Gunk”: Everyone knows that duct … (1 comments)
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How to Check Your Internet Speed - 04/28/11 08:50 PM
In today’s hectic world, being stuck in the slow lane of the information highway is no fun at all.
If you find your Internet connection is moving at a crawl, there are a couple of websites that can help you figure out your upload and download bandwidth.
www.Speed.io - An easy-to-use website that includes ping time, number of connections made per minute and other useful diagnostics.
www.Speakeasy.net - Another super-simple speed test that takes less than a minute.
Either site will enable you to compare your Internet connection rate to others in your area. Remember, uploads and downloads differ dramatically based … (6 comments)
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Tips for Home Sellers - 04/28/11 07:56 PM
The following are eight tips to help you decide whether or not to sell your property, and how to go about it:
Take a good hard look at your home. What are its strengths and weaknesses? Make a list. Watch for sale signs in your neighborhood and go to open houses. Start thinking about how your home compares. What have other similar houses in the area sold for? Most homeowners are a bit unrealistic about what their house is worth. You want to be on the same wavelength as your real estate agent when the time comes to set a price. … (1 comments)
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Save Money Today by Deferring Capital Gains Tax - 04/28/11 07:29 PM
Imagine saving thousands of dollars on your next real estate transaction. Section 1031 of the U.S. Internal Revenue Code allows for the exchange of one investment property for another, providing the opportunity to defer the capital gains tax on approved property transactions.
A 1031 exchange is a method for selling one qualified property, then purchasing another qualified property within 180 days of the initial transaction.
The process works much like any other real estate selling and buying situation. Because investors are exchanging properties, the IRS allows those investors to defer the capital gains tax on the initial sale.
There … (0 comments)
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Real Estate Resolutions: Tips for Homebuyers - 04/27/11 09:35 PM
Planning to buy in 2011? Preparation is the key to getting the best deal when shopping for a new home. Following are some tips to help you get started:
Define Needs Versus Wants: Make a list of your needs versus wants in the new home. For example, if you have a large and growing family then four bedrooms might be a necessity, while a pool might be negotiable.
Select a Location: Spend some time driving around town, researching schools and local amenities, crime rates, and other safety considerations. Select three to five areas to focus your search on.
Get Pre-Qualified: Find … (0 comments)
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Selling Your Home? Discover How to Avoid Costly Mistakes - 04/26/11 11:39 PM
With a little information and attention, expensive mistakes for the homeowner can be avoided.
Price
The single biggest mistake people make is setting the asking price too high. An amount suited both to the home and to the market conditions attracts the greatest number of prequalified buyers, increasing the likelihood that you’ll get a higher price in the end.
Home Staging
Houses not shown at their best are another source of lost profit. Act on any advice you are given about cosmetic changes and minor repairs.
A clean, tidy and sweet-smelling home goes without saying.
Set viewing hours for … (2 comments)
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How a Market Analysis Benefits Buyers and Sellers - 04/26/11 11:33 PM
A comparative market analysis (CMA) is one of the most important considerations in any real estate transaction. It not only benefits both the buyer and seller, but a properly performed CMA is a critical step in establishing price versus value. Here is what you need to know about a CMA before buying or selling a home:
How It Works
A CMA is typically done by a real estate agent with extensive experience in the property type and location. A careful evaluation of the parcel is done to assess the condition, amenities and unique status of the specific property in comparison with … (1 comments)
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How to Create a Beautiful Focal Point for Your Room - 04/26/11 10:54 PM
Having a focal point is critical if you want to create a room that feels comfortable and useable. And when you're selling your house, you'll make the room more attractive to buyers because they'll feel more at home when there's a focal point for them to rest their eyes on.
Some rooms have natural focal points, such as a fireplace, architectural details or a picture window with a view.
But if your room has none of these, you could try placing a large piece of furniture such as an armoire or a tall bookcase along one wall, using an ornate mirror … (2 comments)
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8 Easy Ways to Save Energy in Your Home - 04/26/11 10:49 PM
Running an energy-efficient home this winter doesn't necessarily entail buying expensive solar panels or wind generators. Neither does it mean you have to wear your outdoor clothes inside to stop you shivering! Here are 8 useful tips.
Laundry: Wait until you have a full load of laundry and run the machine on cold. Detergents are available to clan clothes at low temperatures.
Dishes: Don't pre-rinse your dishes as this wastes energy. And wait until the dishwasher is full before turning it on. If you have the time, use the air dry or no-heat dry settings so the dishes dry without … (1 comments)
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6 Ways to Create an Attractive Home Office - 04/26/11 10:44 PM
A home office is on its way to becoming an essential item on a house buyer's wish list. After all, many people work at least part of the time at home — and even if they don't, they still want somewhere to store the computer and their household papers.
Here are some tips to help you create an attractive home office that you'll actually want to spend time in.
An attractive place to work
A home office doesn't have to be just functional — it can be attractive, too. So take as much care with the décor as you would … (0 comments)
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Stunning 5 Bedroom Buffalo Grove Home For Sale! - 04/24/11 10:18 PM
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David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent
Gurnee,
IL
More about me…
Midwest Premier Realty, Gurnee IL 224-321-0699
Address: Gurnee, IL, 60031
Office Phone: (224) 321-0699
Cell Phone: (224) 321-0699
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