If you're having a problem making your mortgage payments, or think you might in the months ahead, don't despair. there are things you can do to help keep you out of trouble.

•1.The best advice I can give you is to talk to you're lender. Don't ignore the problem and hope that it will go   away. You are not alone and have nothing to be ashamed of. All lenders deal with this from time to time and may have options that will let you keep your home, and ride out the hard times. You won't know if you don't talk to them.

•2. Change to a fixed rate. If a rate hike on your adjustable-rate mortgage is going to be a hardship speak to your original mortgage originator to see if they can help in switching or refinancing to a fixed rate loan. Many have tried to contact their present mortgage company to change to a fixed rate mortgage, but very few will do so without requalifying them or refinancing their existing mortgage. While doing this see if they will extend the term of the loan. Going from a 30 year to a 35 or 40 year term might lower your payment and make your life a lot easier. Remember, it's better for the lender to refinance then to foreclose and lose money.

•3. Sell the home. If you don't see any way out of trouble, there is nothing wrong with selling. But don't wait until you go into foreclosure. If you have a true financial hardship the lender might allow you to do a short sale. A short sale is when you sell for less then you owe and the lender forgives the outstanding debt. Be sure to talk to the lender, and a real estate professional, before proceeding.

Hank Roeters, ABR,GRI,e-Pro
Broker Associate.
Platinum Partners Realtors®
630-654-3600
http://www.hankroeters.com/

The Color of 2008 is Green. Everywhere you look these days you hear talk about green.

Just what is the Green they are talking about today, and why is it such a big concern?

The free dictionary defines Green as:
A supporter of a social and political movement that espouses global environmental protection, bioregionalism, social responsibility, and nonviolence.
a. Beneficial to the environment:
b. Favoring or supporting environmentalism:
Wikipedia writes:
Recent political groups have taken on the color as symbol of environmental protection and social justice, and consider themselves part of the green movement, some even naming themselves green parties. This has led to similar campaigns in advertising, as companies have sold green, or environmentally friendly, products.
Webster's definition is:
relating to or being an environmentalist political movement b: concerned with or supporting environmentalism c: tending to preserve environmental quality (as by being recyclable, biodegradable, or nonpolluting)

I think Webster's b & c definitions fit most people. Concerned with, and supporting environmentalism. Tending to preserve environmental quality. 

Now that we have a good idea about what it means to be green, what are a few things we can do to help the cause? 

Recycle: Make sure that you place all recyclable material in the recycling bin and not in the trash. Buy products with recycled material. Try to buy products that are recycling friendly, and are packaged in recyclable material.  Reuse whenever you can.

Become more Energy efficient:Turn down the thermostat in the winter, and up during air conditioning time.  Better yet, buy a programmable thermostat to cut down on energy use. Put an extra blanket on your bed so you can keep it cooler in the house during the night. Turn off the lights when you don't need them. When a bulb burns out, replace it with a compact fluorescent bulb.  

Conserve Water:  Fix leaking faucets, each repaired leak will save gallons of water. Turn off the water while brushing or shaving. Use water saving shower heads, and cut down on your shower time. A one or two minute reduction will save hundreds of gallons a month.

These are just a few tips to help you go green in 2008. I Hope you find this information helpful.    

A while back I had a nice Town House listed, that had a gas log fireplace.  The young couple that owned it were relocating, and moved out shortly after it was listed. One afternoon I needed to stop by the listing to bring a new supply of listing flyers.  I arrived just as another agent was locking the front door. She had just shown the property to a Mother with 4 young children. We talked for a few minutes, and then they left and I went inside with the flyers.

After putting the flyers in the display rack I decided to adjust the drapes in the living room. While doing that I suddenly noticed the unmistakable odor of gas. It seems that while mom and the agent were looking at the home, the children found the key to the gas fireplace, and gave it a turn. I turned the gas off, and opened some windows to get the gas out. I also removed the key from the gas valve, and put it in a drawer in the kitchen.

I don't know what might have happened had I not stopped by that day, but it could very easily have been a disaster.  It is very common in this area to leave the key in the gas valve all the time. The reason for writing this is to encourage you to keep the key in a safe place, and only put it in the valve when using the fireplace. This is very important for any home that is being shown, and a good practice for any home with a gas fireplace.

Darien Single Family Marketing Statistics January 4,2008

Total Number of Active listings: 87

Average list price: $459,909.00

Average days on market: 177

Lowest List Price: $219,900.

Highest List Price: $975,000.

2007 Sold's

Total Sold: 116

Average List Price: $399,640.

Average Sale Price: $381,640.

Sales to List ratio 95%

2007 Sold's breakdown:

Bedrooms: Number Sold: Average List $ Average Sold $ Sales:List Ratio Average Market Time:

2 or less            1                   $254,000.           $235,000              93%                                116

3                         67                 $340.255.           $325,627              96%                                 112

4                         40                 $459,528.           $440,019              96%                                 113

5 or more           8                 $615,750.            $577,188.             94%                                126

Statistics courtesy of the Multiple Listing Service of Northern Illinois

The arrival of the New Year also brought the arrival of a new Illinois Law. The Illinois Radon Awareness Act requires the seller of residential property (1-4 units) to provide the buyer with 2 additional documents. The first is a "Disclosure of information on Radon Hazards" form, and the second is a pamphlet on Radon testing guidelines from the Illinois Emergency Management Agency. The new law does not require a seller to test, or engage in Radon mitigation activity. The purpose of this legislation is to increase Radon awareness.