Lyn Sims ~ Schaumburg Homes ~ Chicago Northwest Suburbs ~ Illinois Real Estate

FHA Appraisals and the Rules

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Fri, 20 Nov 2009 14:51:32 -0600

FHA Appraisals and the Rules

Lately in my area there has been a tremendous amount of miscommunication and misinformation with FHA appraisals. It is so rampant in our area that I've decided to post the drama.

Schaumburg IL - Townhouse listing of mine does not appraise out and is $5000 under contract price. Seller does not want to sell at the appraisal price and the buyer doesn't want to pay the contract price. Deal dead which is easy enough. Buyer #2 comes along with their overzealous buyers agent, let's call her 'Gloria Go-Getter'. She's overcaffinated, overconfident, never listens to what is being said and is constantly on her 'crack berry' answering those important emails. Buzz, buzz, buzz, there she goes.

After negotiating this new offer at the appraisal price (I surprised her with that BTW) she said, sure I guess we'll use it. You guess? Sorry Gloria, the appraisal is good for 6 months on the property so yeah, we're gonna use it. Then the contract goes to the also overcaffinated loan officer, 'Busy Bruce', who begins the conversation with - "You don't know what you're talking about, I want a new appraisal done". So now we have Gloria Go-Getter and the loan officer telling me I am blocking the contract by not letting a new appraiser into my listing.

Now I'm thinking to myself, this can't be happening right? This FHA appraisal guideline is as old as dirt, how can they not know about it? Well it turns out that the loan officer wanted me to manipulate the FHA system that assigns the appraisals and case numbers. The loan officer is telling me that the appraisal no longer has a case number and they don't want to use it. Well I get the original appraisal from the original loan officer and indeed there's that case number and all the appropriate information necessary to make it valid. Hmmmm.

Did the buyers agent and the loan officer plan this? I think that having the appraisal already done was not in their collective game plan. I think what they expected was that the townhome would not appraise out and the price would be adjusted downward. Their only option was to fight the current appraisal. Problem is, we can't just get another new FHA appraisal on a property and I wasn't going to do anything funny with the FHA assignment system.

Besides, I've heard that the federal penitentiary accommodations would not be adequate enough for little 'ole me.

I've uncovered some interesting things from the FHA Help Line (FHA Connection) and they were very courteous and answered all my procedural questions. I wasn't loosing my mind and indeed the appraisal was still valid and in the system. Why all the drama? Was I just supposed to forget about the 1st appraisal? Why would I just ignore it?

What would the penalty be if I did turn a blind eye? So the deal finally closed and I can honestly say I'm not sure what this agent was trying to accomplish. All the way to the end, she was adamant that we didn't have to honor the appraisal.

I'm not gonna miss Gloria Go-Getter.

Winter and Summer Furnace Settings

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Wed, 18 Nov 2009 14:11:56 -0600

Heating and cooling adjustments on a forced air furnace - Winter and Summer Settings

Warm air rises; cooler air sinks. Keep this principle in mind, and you’ll realize why opening the correct air returns in winter and summer will provide better air distribution-which, in turn, allows more even temperatures in your home.

When you use a forced air furnace for summer cooling, you should open the high returns. This allows the furnace to take warmer air from the top of the room back to the air conditioning cooling coil in the furnace. In the winter, open the low returns to collect cold air at the floor.

For a two-story home, you may also need to adjust the supply air for winter and summer. In the winter, warm air rises to the second floor, so less heating is required there.

In the summer, warm air still rises, and a hot attic adds even more heat, so you need greater cooling (air flow) to the second floor than to the first floor.

The best way to control air flow is to adjust the small dampers in the heating/cooling duct system in the basement. Often, these dampers are found where round supply duct runs connect t o the main (rectangular) ducts. Look for small (¼-inch) threaded rods and wing nuts. You can adjust the damper by turning the screwdriver slot on the small rod. When the slot is parallel (going the same way) to the duct, the damper is fully open. You don’t need to adjust the wing nut, which simply locks the rod into place.

Heating ducts vary. Some systems have levers indicating the direction of the damper. Some rectangular ducts have dampers and levers.

To adjust air flow for summer cooling, start by fully opening all second floor dampers. Next, partially close dampers to first floor rooms that are getting lots of cold air. You will find that closing the damper to 50% or turning the shaft to 45 degrees will only partially slow the air flow. Often, even if you fully close the damper, there will still be air flow because the dampers fit very loosely in the ducts.

Closing first floor dampers will direct air to the second floor. Mark your damper settings for summer and winter once you have found the correct balance.

Remember to clean the furnace filter, too, because a plugged filter can also restrict air flow.

Older homes were not built for cooling - the supply and return ducts to the second floor may not be adequate so adjustments may not solve the problem. A quick fix may be to run the fan furnace continuously.

I just moved into a new home recently and I had a 'mini melt down' on the 2nd floor. It was just too hot all the time! Went on the internet to find these settings which used to be marked right on my old furnace! Guess what - no marks, no nothing on the new furnace, so my guess work began. It actually took me quite a bit of work and research to find these directions so hope you can make use of them in your home.

Happy heating AND cooling!

Another kick in the head ......

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Tue, 17 Nov 2009 14:13:28 -0600

Well here's a kick in the head ......

I recently cancelled a listing that I had for some time because the seller just would not lower the price. All the signs were that since she didn't have a fireplace, she was being overlooked at her price. Townhomes with fireplaces were getting regular showings and this one didn't have a showing in 30 days! We had to adjust our price for wanted features that we didn't have.

Seller said no way, they can just make an offer as we've all heard that before. "Lowering my price won't make a difference and everyone knows they can just make an offer in this market."

Well, as always I check the new listings everyday in the MLS and who should appear? Ms. I won't ever reduce my price! Here's that kick in head - she's $13,000 lower than I had it. I'm quite sure at that price, it's going to sell right away. Now at the new price it's below the current market value and with the newer carpet she put in, I'm confident an offer will be in her hands soon.

But, what was all the fuss, fighting and digging in her heals all about? I was only looking for $2000 to bring her more in line. I'd have to say the other agent was a better sales strategist than myself because she got the job done and got the seller down below what she needed to be at. She did a great job.

I'll certainly be putting it on my list for future showings. Just don't understand what Ms. Seller was thinking here? It cost her alot of valuable market time.

Tax Credit Q & A

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Mon, 16 Nov 2009 19:33:14 -0600

Congress has passed new legislation that extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. Also expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is the basic information and guidelines about how the Extended Home Buyer Tax Credit can help you purchase a home. If you have specific questions or need additional information, always seek out a tax professional or the Internal Revenue Service at 800-829-1040. But here are the basics:

Who Qualifies for the Extended Credit?

First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Credit is Available?

The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500.

How is a Buyer's Credit Amount Determined?

Each home buyer’s tax credit is determined by two additional factors - The price of the home and the buyer's income.

What is the maximum price I can purchase?

Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

What is the maximum Buyer Income?

Under the Extended Home Buyer Tax Credit effective on November 7th 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum tax credit.

If your income exceeds these limits, can you still get a credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

As long as a written binding contract to purchase is in effect on April 30th 2010, the purchaser will have until July 1st, 2010 to close.

Will the Tax Credit Need to Be Repaid?

No and Maybe. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale.

Elk Grove Township - Tax Appeals now due

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Mon, 16 Nov 2009 14:08:01 -0600

Appeal data for Elk Grove Township is due Nov. 18th, 2009. Please make sure all your data is submitted in a timely manner.

October 2, 2009 – Cook County Assessor Jim Houlihan announced today that residential property owners in Elk Grove Township were mailed notices reflecting a reduction in the assessed values of their properties. The impact of these reductions will be seen in second-installment tax bills payable in the fall of 2010.

"The situation we are facing in the real estate market is extraordinary, and the downturn has had an impact on home values," Houlihan explained. "After analysis of market sales and foreclosure data, we determined that Elk Grove Township homeowners should not have to wait until their properties are reassessed next in 2011 for the downturn to be reflected in their assessments."

Normally, properties are reassessed and receive notices every three years. The north suburbs are not scheduled to be reassessed again until 2010; the south and west suburbs will be reassessed next in 2011. This year, the City of Chicago will be reassessed.

Due to this first-ever downward market adjustment, residential properties in each suburban township will receive adjustments of their assessed values. A 7% decrease will be applied to the assessed values of all residential properties located in Elk Grove Township.

The deadline to file appeals for properties located in Elk Grove Township is November 3, 2009 (now extended to November 18th).

These market reductions come as the Assessor’s Office is implementing the 10/25 Ordinance, a measure passed by the County Board last year which was designed to simplify assessment levels. Homes will now be assessed at 10% of market value. Commercial and industrial properties will be assessed at 25% of market value. All Cook County property owners will receive notices telling them of the changes in assessment levels this year.

"If Elk Grove Township taxpayers want to appeal their proposed assessments, we encourage them to do so online," Houlihan said. "Our newly redesigned Web site is easy to navigate, contains a wealth of information, and makes it easier than ever to appeal a proposed assessment."

Cook County Appeal Forms

Medinah Illinois - $147,800 2BR 2BA near Meacham Grove Forest Preserve!

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Sun, 15 Nov 2009 14:10:36 -0600

Lyn Sims | RE/MAX Suburban | 847-230-7324

191 Hillcrest Terrace, Bloomingdale, IL

WESTERN MEDINAH AREA! 2BR 2BA NEAR FOREST PRESERVE!

2BR/2BA Condo

offered at $147,800

Year Built	1969
Sq Footage	1,087
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$219 per month

DESCRIPTION

No updates needed - newer neutral carpet, remodeled Kitchen, remodeled Baths. Sunny unit with detached garage space, storage area in basement. Very private end unit overlooking oak tress and steps to Meacham Grove Forest Preserve that has walking paths, pond, etc. Small subdivision where you can virtually walk to shopping, banks, etc.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Living room
- Dining room	- Dishwasher	- Refrigerator
- Stove/Oven	- Microwave	- Basement
- Laundry area - inside	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Garage parking	- Guest parking	- Laundry on-site
- Storage space(s)

OTHER SPECIAL FEATURES

- Remodeled Kitchen

- Newer carpeting

- Ceramic floors

- Remodeled Baths

- Newer furnace, AC, water heater

ADDITIONAL PHOTOS

Notice mature trees	Livrm
Master BA	Master BR
Kitchen	Kitchen

Contact info:

Lyn Sims

RE/MAX Suburban

847-230-7324

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 15, 2009, 10:44am PST

Selling Advice - the 3 things you should know about Condition

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Thu, 12 Nov 2009 15:30:39 -0600

The 3 Things you should know about Condition ~

This is a series regarding the most popular question that I receive from people about real estate? What’s the #1 tip that I could pass along?

Well there’s actually 3 things that are enmeshed together – Condition, location and price. All 3 actually make your home either sell or be rejected by prospective buyers. Here's how to have your home be in the buyers favorites!

Condition -

Avoiding Home Preparation Mistakes

Getting your house ready for market goes beyond making the beds and washing dirty dishes. Although I've seen plenty of homes with toys scattered throughout and dishes piled in the sink; buyers can't get out of those homes fast enough. Read up on the essential steps to be taken on preparing the home for sale. Some homes need updating and quick fixes. Doing repairs before resale can boost chances of quickly selling. If items are broken or buyers see deferred maintenance, they wonder what else is wrong. It's more expensive, actually, not to fix the house.

Phrase to remember: Buyers only know what they see - not the way it's gonna be!

Another phrase to remember: "Facts do not cease to exist because they are ignored" ~ Aldous Huxley

Dressing your home for showings is called 'staging a home'. Think of the process like arranging flowers in an attractive vase. If you or your agent lack the vision or ability to stage, consider hiring a professional home stager. It is absolutely worth the effort and the price because your home will sell faster in any marketplace!

Common Marketing Mistakes

Whenever I see badly shot photographs in the MLS, or it's the only photo, I want to scream at the agent, 'What are you thinking?' But agents and sellers make plenty of marketing mistakes beside bad photos. Do you realize that there are sites and blogs that actually post these photos under 'worst photos of the week' and 'how not to take a photo like this'. And my personal favorite 'cave of the week'.

If photography isn't your strong point or your agents - hire a professional. Marketing now begins on the internet, before the buyer even gets near your home. My advice is to get samples of what and how the agent is going to present your home with virtual tours, widgets, and online ads. If the agent can't show you or provide that info - run the other way and get another agent!

Some sellers loudly lament: 'Why isn't my home selling?' These are likely sellers who are not employing marketing strategies designed to expose a home to the largest pool of buyers or are avoiding the preparation tips before the home went on the market. Buyers have a lot of choices - think why should they choose yours?

Once a buyer has entered a home, the marketing continues. A strong listing agent plays up the good features of a home and downplays the negative - that's selling. Make sure your agent provides as much information to the buyer as possible so they can make a good, informed decision. I can't tell you how many times I've shown a home and it takes up to 3 days to find out the age of the roof or other vitals that should be readily available to the buyers. It's basic questions that most buyers want to know - age of roof, age of furnace, age of AC, age of appliances.

Hiring the Wrong Agent

You can hire a good listing agent or a mediocre agent. They all cost the same. You don't have to hire your brother-in-law that 'dibbles and dabbles' in real estate or your daughters friend that 'just started in the business'. This is the largest personal investment that you have - interview agents and hire a full-time professional with a minimum of experience that you feel comfortable with. Think of it this way - do you want a new agent practicing on you?

If you want full-service, then hire a full service agent. Also, learn the difference between Realtors® and real estate agents, they are not the same. Ask an agent why they are not a Realtor®? Think of it as a 'professional labor union with a code of conduct and ethics'. What would be a benefit for them not to join?

Carefully read the listing agreement to make sure the agent who brings a buyer is fairly compensated because one surefire way to make sure an agent won't show your home is to offer a silly commission percentage. In a competitive market like now, often buyer agents are paid a 'bonus' commission percentage. It is an additional 'incentive' to show your home first before the others in the same price range.

Be sure your home is in top marketing condition. Be sure that your home is getting all the expose it deserves.

Remember that ‘3’.

Lyn Sims (847)230-7324

RE/MAX Suburban

Selling Advice on Price
Selling Advice on Location

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors,
omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Home Selling Advice on Condition ©2009 Lyn Sims - RealEstateConsumerInfo.com - RealEstateBuyMe.com

Selling Advice - the 3 things you should know about Location

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Thu, 12 Nov 2009 15:26:27 -0600

The 3 Things about Location ~

What’s the most asked question that I receive from people about real estate? What’s the #1 tip that I could pass along?

Well there’s actually 3 things that are enmeshed together – location, price and condition. All 3 actually make your home either sell or be rejected by prospective buyers.

So a real estate mantra in case you don't know it is:

Location, location, location!

There's that 3 again but there is a reason that it is used over and over. Nobody listens!

The location of your home makes a 'price' difference to buyers from the town that it's in, the street that it's on and the school district the kids will be attending.

Obviously different towns have different socio-economic benefits for living there. Maybe you need the train to go to work? Maybe you've grown up in the city and want your kids to run around and play soccer in the best park district - all these reasons encompass location.

So this portion of the series really will ask you to take a step back and look at your home with a critical buyers eye. Do you have a good location?

Is it safe? Is it quiet? Is it in the middle of the subdivision across from a park? Walking distance to schools? Close to expressway access or public transportation? Golf Course view? Wooded view?

After answering these questions if you find yourself saying:

'Well the busy road never bothered me because actually my wife tells me I'm hard of hearing!'

'No the jet noise doesn't bother me at all - what did you say again?'

'No the berm is not a problem for me because now you can't see the garbage dump (aka the recreation ski hill and mini-mountain range) from here!'

That's a location issue that effects your price. If you take 2 similar homes and put them side by side as a buyer will do, which home would you choose? Come on, be honest?

Each location issue will pose a difference in the price. Buyers will either except or reject your location based on your price just like they would consider other features like a basement or number of bedrooms.

Be sure your home is set at a competitive price based on your location. Remember that ‘3’ and say it one more time - location, location, location!

Lyn Sims (847)230-7324

RE/MAX Suburban

Selling Advice on Price
Selling Advice on Condition

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Home Selling Advice on Location ©2009 Lyn Sims - RealEstateConsumerInfo.com - RealEstateBuyMe.com

Selling Advice - the 3 things you should know about Price

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Thu, 12 Nov 2009 15:22:23 -0600

The 3 Things you should know about Price ~

What’s the most asked question that I receive from people about real estate? What’s the #1 tip that I could pass along?

Well there’s actually 3 things that are enmeshed together – Price, condition, location. All 3 actually make your home either sell or be rejected by prospective buyers.

Price - Obviously in this market with the elevated inventory you have to be ‘spot on’ with your homes price. Too high and no one will take your home seriously and it will be passed over. Too low? Well that really doesn’t happen too often except in distress sales, foreclosures and the like. A fair price – what a seller is willing to accept and a buyer is willing to pay. That’s what we normally strive for.

When an agent puts your home on the market, it has to be sold three times.

The first sale is to my peers, the other REALTORS® and agents who are in the market everyday. They need to be excited about the price or they simply ignore the listing because it's often a waste of their time to show it to buyers who won't pay that price.

The second sale is to the buyer, and they compare your home to the others they're looking at in the marketplace comparing features and benefits that are important to them.

The third sale is to the appraiser for the lender. Even if we're lucky enough to get a higher than market price from a buyer, the appraiser compares the sale with past sales in your neighborhood and their appraisal usually hits right at the market price.

Now let’s think about this question for a moment - if you bought a home and the appraisal came in lower than what you paid, what would you do? How would you feel as a buyer?

I'll tell you what normally happens from past experience, the deal falls through and we begin the whole process all over again. Start again at square one, we’re back on the market baby! How would you feel about that?

Be sure your home is set at a competitive price. Remember the ‘3’.

Lyn Sims (847)230-7324 RE/MAX Suburban

The 3 Things you should know about Condition
The 3 Things you should know about Location

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Home Selling Advice on Price ©2009 Lyn Sims - RealEstateConsumerInfo.com

Home Buyer Tax Credit - The 'new and improved' version just unveiled!

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Fri, 06 Nov 2009 10:19:00 -0600

So with much fanfare we have the 'new' tax credit that should be signed shortly by the President. This post was written by Claudette Millette from Ashland MA and I think that this post gives most of the guidelines that you will need.

So the deadline for this tax credit will be: Purchase contract by April 30th and close by June 30th, 2010.

Let's get out there and start looking today! I know where there are some fantastic deals I'd love to show you!

Via Claudette Millette - Metrowest Mass Exclusive Buyer Broker (The Buyers' Counsel):

The much-anticipated extension to the home buyer tax credit has finally been approved. The Senate's vote yesterday resulted in a 98-0 win and today it was passed in the house. The bill now moves to the President's desk for a final signature.

First-time home buyers have been eligible for tax credits of up to $8,000 since last January as part of this year's economic stimulus package. The newly backed program will expand the credit to include existing home owners.

Under the revised program, those who have owned a home for at least five years will be able to apply for tax credits of up to $6,500 when they purchase their next home.  To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30.

The maximum purchase price on a home will be $800,000 with vacation homes not eligible. Income limitations are $125,000 for single tax payers and $225,000 for joint filers.

The National Association of Realtors (NAR) and the National Association of Home Builders (NAHB) have been lobbying hard for the extension and expansion of the tax credit. NAR claims that so far, about 1.4 million first-time homebuyers have qualified for the program and they estimated that 350,000 of these buyers would not have otherwise purchased.

The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.

Senator Johnny Isakson, who heavily pushed for the extension, along with his own version that would have increased the credit to $15,000 stated, "This is probably the last extension."

But, is this really true? When April 2011 comes around and the housing market is still not in full recovery mode, will the politicians be able to let this go and actually come to an end, or could it possibly become a more permanent subsidy?

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Copyright 2009 - Claudette Millette, Broker, Owner, TheBuyersCounsel - 800-392-1446  - E-mail

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Black Dog Syndrome

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Thu, 29 Oct 2009 17:29:00 -0500

I received my 'Paw Prints' newsletter from the shelter, Almost Home Foundation where we adopted my dog 1.5 years ago now. The top article was something that I didn't know and wanted to share with you.

Black dogs or black cats are the hardest to get adopted! I couldn't believe it and here is the article:

"That is really all it is. The negative myths that are associated with black cats and dogs have no truth to them yet the stereotypes still persist, which is why black cats and dogs have the highest euthanasia rate in high-kill shelters, but have the lowest adoption rate."

"They watch their lighter-colored foster siblings come and go while they are repeatedly overlooked by adopters. At the adoption shows, the black cats sit patiently in their cages while people pass right by them so they can admire the non-black kitties sitting nearby. The black dogs sit at the end of their leash, wishing someone would inquire about their personalities too."

"And they start to wonder why no one wants them. They try twice as hard to prove their worthiness. This is why black cats and dogs are the biggest love bugs of all. They're just bursting to share their affection with some lucky person! They are exceptionally loyal companions, because they know that their owner gave them a chance when no one else would. They've got charisma and an endless enthusiasm for life, seeing to it that every day counts."

"Due to their tough beginnings, these black pets are loaded with compassion and determination, all the while maintaining a humble outlook. They are very intuitive and always know when their owner needs comforting or a good laugh. True to their giving nature, they'll be first to provide snuggles or entertaining antics. They are amazing gems, but they are completely unaware of it!"

"We currently have dozens of black cats and dogs at Almost Home Foundation. Please give them a chance."

How about it?

Please raise awareness! Get the word out and tell everyone you know about Black Dog or Black Cat Syndrome.

Roselle IL Home Sales by Price Range - October 2009

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Thu, 29 Oct 2009 14:12:47 -0500

Roselle Illinois Market Update by Price Range - July, August, September 2009

Diligently trying to keep both buyers and sellers educated on the local Roselle Illinois Home Sales and housing market has been my goal with these regular posts. This market update gives you the number of homes that have sold by price range so you get a feel for the current sales activity. Which is up giving encouraging news!

35% over the last 3 months!

Isn't the $8000 Tax Credit making a difference? Isn't the lower interest rates making a difference? Maybe the great values in the area?

I honestly can't say the reason for this quarterly upswing but for once it's good news that sales are inching forward. Homes in Illinois have made a 3% increase not seen since March 2006! Average days on the market for closed sales is at 184. The listing price to selling price ratio is 5% which means the amount that a buyer gets off the list price of a house.

Now what I find interesting is a new figure called the 'Sales Price to Old List Price'. This comes in at 89% which shows that sellers are still putting their homes on the market too high and then coming down and eventually selling. This is not the market to test a price!

Currently for the Roselle Illinois Home Sales from July to September 2009 you can clearly see that over 50% of the closed sales have been under the $250,000 price range. The lowest sales price was $125,000 and the highest sales price was only $650,000.

How can you use this information if you are a buyer? The price range that you are thinking of purchasing in, is it one of the more active price areas of the market? It would be telling you that there are many other buyers also in your price range all looking for that 'deal.' Hey that single family home that sold for $125,000 I would call a 'deal'.

How can this information help you if you are a seller? If you are planning on selling your home soon, you can see which price ranges are most active. Clearly the price range above $300,000 has been non-existent and rarely sales have occurred. You might have to plan accordingly for extra market time, but Roselle has faired well with 5 homes selling over the $400,000 price point. As a seller, you have to be sure that your homes curb appeal and presentation is 'spot on'. in a market like this. Possibly some extra updates and staging might be required before you put your home on the market. Do you know what the average market time is for your price range?

Hey Lyn, what about foreclosures? Of those closed 33 total sales only 8 were foreclosures and 2 were short sales. So much for the media telling you all about all those foreclosures out there.


Market Update April, May, June 2009

Townhome Update April, May, June 2009

Looking for a market expert to help you sell your home in the area?

Looking for a great home in the area?

          Lyn Sims                  (847)230-7324
                                         RE/MAX Suburban
                            Email: LynSims@msn.com


I sell in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Resources: MRED MLS of Northern IL, my little calculator and golf pencil.

Illinois Home Sales - Light at the end of the tunnel?

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Wed, 28 Oct 2009 17:29:06 -0500

Light at the end of the tunnel? I hope so. Here is some positive information and numbers from the 'egg heads' that crunch numbers for Illinois.

Illinois Home Sales Show First Increase in Over Three Years

Statewide Illinois home sales increased year-over-year in the month of September for the first time since March 2006 with first-time buyers driving the rebound in sales. According to the Illinois Association of REALTORS® latest report, statewide total home sales (which include single-family and condominiums) in September 2009 reached 10,350 homes sold, up 3.3 percent from September 2008 sales of 10,018.

The Illinois median price in September 2009 was $160,000 down 9.3 percent from $176,450 in September 2008. The median is a typical market price where half the homes sold for more, half sold for less.

According to Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois: “There are signs that the housing market may be signaling a change in direction, although the prospect of continued large numbers of foreclosed properties will continue to exert downward pressure on prices in a market in which supply still significantly exceeds demand. The news on the sales front is encouraging and even the price declines seem to be moderating. However, the prospects of a jobless recovery from the recession will continue to exert restraint on a more robust recovery of the housing market. Illinois tends to enter recessions later than the U.S. and take longer to recover.”

Illinois’ official unemployment rate in September reached 10.5 percent and was above the 9.8 percent national unemployment rate.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 5.06 percent in September 2009, down 0.21 from the 5.27 average rate during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in September it averaged 6.05 percent.

In the city of Chicago, September total home sales (single-family and condominiums) were up 5.8 percent to 1,918 sales compared to 1,813 homes sold in September 2008. The city of Chicago median price in September 2009 was $225,000 down 16.2 percent compared to $268,600 a year ago in September 2008. “While we see a significant increase of sales, we continue to see distressed properties moving the marketplace,” said Genie Birch, president of the Chicago Association of REALTORS®

According to the IAR report, total home sales (single-family and condominiums) comparing September 2009 to the same month in 2008 were up in 39 of 99 Illinois counties reporting including Champaign, up 15.7 percent; Cook, up 9.2 percent; DuPage, up 6.6 percent; Kankakee, up 2.9 percent; Lake, up 1.2 percent; Rock Island, up 3.6 percent; Sangamon, up 13.5 percent; and Will, up 4.6 percent.

Sources: IL Assn of Realtors; Sales and price information is generated from a survey of Multiple Listing Service sales reported by 37 participating Illinois REALTOR® local boards and associations. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

Extreme Pumpkin Info for Halloween

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Tue, 27 Oct 2009 16:23:40 -0500

Extreme Pumpkin Information

15 Exceptional Jack-O-Lanterns for the 'carving maniac' in all of us - this stuff is fabulous!

Carving with Power Tools - DIY Network offers up a few videos to bring out your inner chain saw maniac!

Decorating suggestions for your exterior - you will now put down your chain saw for these videos!

For the more timid viewers and visitors of my blog:

Pumpkin Lunacy

Sure let's act like idiots - let's try Pumpkin Bowling! Guess what we use for bowling balls?

More Extreme Pumpkins. My personal favorite is the one where fire is shooting out the top!

Happy Halloween!

Resources: HGTV

10 Commandments Home Buyers Must Follow

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Sun, 25 Oct 2009 13:25:27 -0500

Great advice in this post from Chantel Saucier on what NOT to do when you are looking for a home! Sometimes first time home buyers decide on that new couch with catastrophic results.

Via Dr. Chantal Saucier (Keller Williams Realty Acadiana):

These 10 Commandments home buyers must follow may seem like common sense to many. Buyers, however, can sometimes forget with all the excitement surrounding the buying of their new home. In the past couple of weeks, I have heard of two separate buyers who saw their home loan turned down, and their dream shattered, a few days before closing because they had bought furniture for their new home before it actually became their home. Both of them now have beautiful furniture with no home to put them in.

These two buyers were not my clients but it always hurts when I hear of transactions falling apart for reasons that could have been avoided. These 10 commandments (from KWU) are part of the buyer packet I give all my clients when we first meet and I always stress that once they get pre-approved and the process is started, they can't do anything that might affect their credit.

1. Thou shalt not change jobs, become self-employed or quit your job.

2. Thou shalt not buy a car, truck or van (or you may be living in it)!

3. Thou shalt not use credit cards excessively or let your accounts fall behind.

4. Thou shalt not spend money you have set aside for closing.

5. Thou shalt not omit debts or liabilities from your loan application.

6. Thou shalt not buy furniture.

7. Thou shalt not originate any inquiries into your credit.

8. Thou shalt not make large deposits without first checking with your loan officer.

9. Thou shalt not change bank accounts.

10. Thou shalt not co-sign a loan for anyone.

If you are in the process of buying a home, remember that your credit must not change or be affected in any way until you actually sign the paperwork and get possession of your new home. Lenders will not only look into your credit when you first get pre-approved, they will check it again (and sometimes again and again) before they let you sign the mortgage. If you want to buy new furniture for your home or change jobs, just be patient. There will always be time to do it after the closing.

$193,900 2BR 2BA ~~ COME & SEE OUR SUPERSIZED BR'S HERE

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Fri, 23 Oct 2009 08:04:31 -0500

16x12 BR'S, 2BA'S, Vaulted Ceilings all for $194,900

Location: GLENS OF SCHAUMBURG

This place offers the largest BR's in Schaumburg! Vaulted Greatroom, skylites, large kitchen with oak cabinets, pantry, newer appliances included. BR's are totally separated for roommates or that pesky teenage kid of yours!
Oversized balcony view, 1 car garage, low taxes, Close to Elgin-O'Hare Access and Schaumburg Train Station for commuters. Value priced!

This is a manor home/coach home styling where there are 4 homes in a building. This home is an end unit and the largest 2BR in the area, there is no one living above you for privacy. Totally secure updated building.

Information

Contact Information

Lyn Sims

847-230-7324

Contact Reply Form

Forward to a Friend

Pricing

Price: $194,900

Flexibility: Negotiable

Additional Pricing Information: FHA Approved Complex

Homeowner Dues: 191

Features

Bedrooms: 2

Bathrooms: 2

Year Built: 1987

Subdivision: GLENS OF SCHAUMBURG

Located on Floor #: 2

Floors in Bldg: 2

School District: 54 & 211

Agent Name: LYN SIMS

Broker: RE/MAX Suburban

MLS #: 07330512

Attributes

Appliances

Range/Oven

Full Refrigerator

Washer/Dryer

Dishwasher

Sink Disposal

Interior Amenities

Vaulted Ceilings

Walk-in Closet

Dual Closets

Remodeled 2BA

Vaulted BR's

Building Amenities

Guest Parking

Photo Gallery

View as Slideshow View Photo Gallery (7 Photos)

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 2906672

Chimney Pots

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Thu, 22 Oct 2009 12:09:58 -0500

Chimney Pots

Do I need one? Do I want one? Should I get one? It's the newest trend in spicing up the exterior of your home!

Personally, I love how they look! Chimney pots were traditionally unglazed terracotta pots with a tapered shape, designed to increase the draft of a chimney while providing an ornamental cap to a building. Their use is first recorded in the thirteenth century, and they were an important aid to heating during the time when fireplaces were the main source of warmth.

Belying the name pot, chimney pots are available in a wide variety of sizes, shapes, styles -- important because they must fit the flue. They are available in a range of colors and designs to suit and highlight various architectural styles on a home. Although one may purchase antique or reproduction chimney pots either to fit the house architecture, from an appreciation of history, or for beauty, the new array of patterns means that chimney pots are no longer associated exclusively with Tudor Architecture. Among the shapes available are chess pieces, octagonal columns, and those shaped like gun or cannon barrels.

Chimney pots fit around the outside of the flue, but inside the chimney, so proper measurement is important to getting a good fit. Securing a piece of wire mesh over the top of the chimney pot can keep both leaves and small animals out, as well as keeping sparks in. Local fire code determines the requirements for spark arrestors so checking with the village before installation is important.

Didn't know what a Chimney Pot was? Now you do! See you've learned something today!

The photo at the right is an incorrect way to use a Chimney Pot! So don't even try it in my neighborhood!

Chimney Pots in This Old House Magazine

Chimney Pots made between 1840 and 1880

Copper Chimney Pots

Copper Chimney Pots

Extendaflue Chimney Styles

Please contact me Lyn, I need more information!

Lyn Sims    (847)230-7324
          RE/MAX Suburban
       Email: LynSims@msn.com

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use/

Mortgage Rate Shopping Tips

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Wed, 21 Oct 2009 14:50:06 -0500

I think that shopping for a mortgage lender is one of the hardest things to do but Bill Ladewig from San Diego gives you great advice and a few tricks. Ask each lender for the same information so that you can shop them comparatively!

Educate yourself before you begin shopping and don't forget to ask alot of questions if you don't understand. And then keep asking questions until you do and feel comfortable with the process.

Via Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970:

Education is the Only Sure Consumer Protection

Realtors, We Must Teach Your Clients to Properly Shop for Rates.
Life is better for all concerned when Your buyers know how to select competent lenders

FIRST, Two VERY IMPORTANT Rules:

Mortgage Rates, Points and Lender Fees are interdependent parts of every rate quote.  If any part is missing the Quote is worthless.

Do not fall for "I must have your credit report and financial information before I can quote you a my rate" because this an absolutely outrageous lie. Move to the next lender no matter whojust lied to you. In my opinion this is predatory lending.

Important Mortgage Rate Shopping Tips.

Know your credit score before you begin shopping.  Loan availability and the cost of your loan depend on your credit score. Most conventional lenders require a 720, or better, mid score, above 80% loan to value, and most FHA and VA lenders require a minimum 620 to 640 mid credit score. Do not allow any lender to run your credit until You select them as your lender. Credit reports run by several lenders will lower you credit score. If you do not already know your credit score, there are several Internet companies that will provide a free credit report and FICO scores for an additional Fee.

VERY IMPORTANT, Shop all lenders on the same day and time period.  Mortgage Rates change every day, sometimes several times a day.

Insist that each lender price the exact same Rate. You pick a rate to shop. The rate does not really matter as long as it is currently available because you are looking for lender for the lowest total cost for the rate you are shopping.   Once you establish the lowest cost lender you can zero in on a rate-point-fee combination that works best for your situation.

All lenders offer a range of rates and points for each of their loan types. Rate and points are interrelated, lower mortgage rates cost more points... higher rates cost less points. Create a "Rate Baseline" by asking each lender for the same mortgage rate and then compare their points and fees for that rate.

Shop for a specific loan type, because each type is priced differently. i.e: FHA, VA and Conventional loans, conforming and jumbo have different mortgage rates. Insist that each lender quote rates for the same loan type. Some lenders may present you with other options but insist they also provide a quote for the loan you are shopping for to establish a pricing base line.

Shop each lender for the same mortgage rate lock time period. You must ask every lender to tell you the lock period for the rate they are quoting. Mortgage Rates increase incrementally for each longer lock periods. I suggest shopping rates for a 30-day lock period. Lock periods can vary but most lenders provide locks for 15, 30 and 45 days.   Some lenders quote their 15 day, least expensive price, which is not available until after the loan is approved.   If you find a lender initially quoting a 15-day rate, it would prudent to eliminate that lender from your short list.

If the Loan to Value is greater than 90% and the spread between the interest rate and APR are less than 0.75% the APR has been misstated.

Insist the lender provide a detailed Good Faith Estimate before you complete an application. You have a right to know to know the price of the loan before you apply. A few lenders, even some large well-known lenders, falsely claim rates cannot be quoted until they have all your personal information. This is an absolutely bogus sales technique, these lenders know that borrowers do not want their personal information spread all over town and their credit score lowered by several credit reports AND they know once a borrower provides their personal information they are likely to stop shopping. Do not apply to any lender before you receive a Good Faith Estimate.

Will the lender allow you to lock your mortgage rate today? You should be able to lock your rate on the day you submit your signed application as long as the signed application is received by the lender prior to 3:00 PM PT. Most lenders stop locking loans at 4:00 PM PT this time is not universal so check with each lender for their lock cutoff. I am not necessarily advocating an immediate lock unless market conditions indicate it is needed. By allowing the lender think the borrower may immeditally lock the lender may provide a more accurate quote.

Bill Ladewig, Your FHA Guru

800.664.SAVE (7283)

Bill@YourFhaGuru.com

Current Rates: Rates



October, 2009 San Diego Mortgage Rate Shopping tips

San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage What is APR

FHA Appraisals

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Wed, 21 Oct 2009 14:16:56 -0500

FHA Appraisal Requirements

Effective for all case numbers assigned on or after January 1, 2010, the validity period for all appraisals on existing and proposed and under construction properties will be 120 days. This change aligns FHA’s requirements pertaining to the validity of an appraisal with current industry practices.

This is a change from the current validity periods of six months for an appraisal of an existing property that is complete, and 12 months for proposed and under construction properties.

How will this effect you as a buyer?

Not much, except in occurances where the property you purchase has an existing FHA appraisal. That appraisal is valid and 'stays with that property' for the 4 month period. Good news is, you won't need a new appraisal. Consider it streamlining of the process.

How will this effect you as a seller?

Bad news is if you are investigating into this your property probably didn't appraise out at the contract price. That appraisal 'stays with that property' for the 4 month period as mentioned with no exceptions. Now if the property values have declined in your area, you must still use that existing appraisal price and you'll come out ahead! If values have increased you might consider only accepting conventional financing on your home which would then exclude a large percentage of the buyer pool.

Another alternative negotiation would be for the buyer to come up with extra down payment dollars to cover the difference between the appraisal and the purchase price. This can be a problem because, let's face it, most FHA buyers have the minimum 3.5% down payment and rarely any extra cash. OR

The seller can adjust the sales price to the appraisal price of the home thus allowing the buyer to proceed with the minimum down payment.

Please contact me Lyn, I need more information!

   Lyn Sims                   (847)230-7324
                 RE/MAX Suburban
      Email: LynSims@msn.com

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Extreme Makeover Home Edition filmed in Central Illinois

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Wed, 21 Oct 2009 12:57:51 -0500

Watch on Sunday, Oct. 25, at 9 p.m. ET as brothers Bill Brady, Ed Brady and Bob Brady of Brady Homes build a house in a week for a deserving Illinois family on ABC's "Extreme Makeover Home Edition."

Bill Brady, Broker/Owner of RE/MAX Choice in Champaign and Bloomington, IL co-owns two RE/MAX offices with his brothers. They led a massive effort in rebuilding a deserving family's Philo, IL home for the show that was taped in August.

ABC chose the Montgomery family from among five finalists in Central Illinois. Nathan Montgomery gave up a lucrative engineering career to start Salt and Light Ministries, a food bank that feeds hundreds of hungry families in the community. Montgomery and his wife, Jenny, a middle school aide who works with special-needs children, have four children and earn modest salaries. As a result, they were unable to afford much-needed repairs to the family's crumbling 100-year-old home.

With the help of ABC and the show's design team led by Ty Pennington, Brady Homes and its employees came to the family's aid. The company galvanized more than 2,500 volunteers - including about 70 from RE/MAX offices - to do the seemingly impossible: raze the old, dilapidated house and build a new one from scratch in under one week. But they made it happen.

"It's an emotional experience to help a family who has given so much of themselves to others," said Bill Brady during a rare break from the build in August. "What we're doing for the family will help them continue to serve the people who need help at the food pantry. As Realtors and builders, we earn our livelihood by finding or selling homes for people who pay us to provide them a quality service. There's nothing more rewarding than doing it for free for a truly deserving family."

The family's new 2,800-square-foot home, which was unveiled on Aug. 25, was practically designed to accommodate the large family, Bill Brady says. While it's not as extreme as other projects the show has created, the prairie-style structure is a place where the Montgomerys won't have to worry about a collapsing roof or an unstable foundation. As a bonus, the Bradys' wives spearheaded major improvements to the Salt and Light building, with the community pitching in to stock the pantry's shelves.

To read more about the project, view photos and more, visit www.extremebradyhomes.com.

Photo of the team effort: Brady Homes is co-owned and operated by (from left) Bill Brady, Bob Brady and Ed Brady. The brothers also co-own two RE/MAX Choice offices in Central Illinois. They are pictured with their mother, Nancy Brady, a Realtor at one of their offices.

Home Selling Advice - Is that the refrigerator? I think it might be?

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Wed, 21 Oct 2009 08:47:13 -0500

Well here's another hit over the head Sellers on decluttering your home and removing the #1 eyesore source of clutter - the refrigerator stuff! Yes, it's cute your kids did that dinosaur freehand in charcoal but you don't need it when selling your home! Uncle Bob with that photoshopped fish he caught in Minnesota can also be put away.

As this post from stager Jennifer Grant in South Carolina points out, buyers look everywhere and expect everything to be clean especially in the kithen! Words like 'Sparkle and Shine' should be the norm not the exception!

Here's another post I did on the same subject 'It better Shine'.

Via Jennifer Grant (Low Country Home Staging & Interior Design):

Please take the magnets, pictures and drawings OFF the refrigerator!

As a Mom of 5, I totally understand all the love and special things that are proudly displayed on the refrigerator.

As a home stager, I cringe when people expect to show a property with ALL these things displayed to the potential home buyer. Remove all items from the exterior of the refrigerator. Rather than have a buyer remember all your lovely kids, dogs, great Aunt Sally and cousin Lou along with what sporting events your kids will be at the next month, let the refrigerator blend into the room as part of the space, not an island unto itself. DEPERSONALIZE! You want the potential home buyer to "imagine' themselves in the house and that can't be achieved with your wonderful pictures of the family plastered all the refrigerator. It can also be distracting....after all you want them looking at your gorgeous, clean kitchen, not the photos of your family!

Don't forget home buyers look EVERYWHERE! The refrigerator seems to be the location that attracts some of the ugliest of grime. Yet, it is one of the most important places to keep clean. Make sure you clean and organize your refrigerator disposing of any foul odor foods, wiping down all the ketchup stained bottles and a thorough cleaning, especially if you are including appliances in the sale of your home. Don't forget to wipe down the outside of the refrigerator before showing the home for sale. Your motto should be sparkle and shine!

Replacing appliances in the kitchen will be one of the biggest returns on investment. If the refrigerator is beyond help please suggest to your clients they replace it and any other kitchen appliance that is beyond repair or reconditioning. They should be able to easily recoup the cost or take it with them when the home sales.

Thanks for visiting my site! Please visit often for upcoming homestaging tips and creative ideas!

Jennifer Grant
843-457-2167
Pawleys Island, South Carolina
Low Country Home Staging & Interior Design
Website:http://www.lowcountryhomestaging.com
Email:jennifer@lowcountryhomestaging.com

Don't Use CFL Bulbs in Garage Door Openers

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Tue, 20 Oct 2009 18:08:16 -0500

Don't Use CFLs in Garage Door Openers

There have been several warnings concerning the use of compact fluorescent light (CFL) bulbs in garage door openers. Most garage door openers use electronic switching similar to a dimmer switch to operate the light bulbs and it is not compatible with CFLs, even CFLs that are supposed to be "ruggedized" or dimmable. This switching incompatibility coupled with the inherent vibration of a garage door opener can damage the electronic circuits and can cause the electric motor to overheat to a potentially dangerous level. Neither the Genie Company, a company which makes door openers (call them at 800-354-3643), nor the General Electric Company, a CFL manufacturer, recommend the use of CFLs in garage door openers.

Consensus from Robert Nogan, Inside Out Home Inspections 10/2009 Home Hints Newsletter

Schaumburg Township Reassessment

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Tue, 20 Oct 2009 17:18:13 -0500

2009 Schaumburg Township Assessment Information (Due and payable in 2010)

This summer the Cook County Board passed new assessment levels on the entire county. Residential went from 16% to 10%; Commercial from 38% to 25%; and Industrial from 36% to 25%. Every property in Cook county will receive an assessment notice this year regarding the new assessment levels. Schaumburg Township should expect to received the new assessment information by late 2009.

When you receive your new assessment, please review it and if you do not think it is fair or in error contact the Assessor to file an appeal.

Don't forget that we have not received our 2nd and final installment of the 2008 taxes as of this posting. This notice is for your future assessed value for 2009 payable in 2010.

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Sherwin Williams 'Butt Ugly Blue'

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Mon, 19 Oct 2009 15:07:53 -0500

Well I've made it official!

The ugliest exterior paint color that you can put on a home exterior goes to Sherwin Williams Blueblood #6966. I've gone over it again and again and I'm absolutely sure of it. All the votes have been tallied, officiated and certified. In fact, I'm so sure that I've renamed Blueblood #6966 to 'Butt Ugly Blue' in my Sherwin Williams Visualizer for paint colors.

Yes, yes, it's true. Here's a sample of a house in Elgin with the offending 'Blueblood slash Butt Ugly Blue' glaring in the afternoon sun. Need your shades? You bet! Without even giving out the address I'm sure that people know where this house is at!

I bet that NASA knows where this house is located!

Google Earth the words 'Butt Ugly Blue' and this house comes into view!

Guard your retinas!

Dreading the Day

Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) — Mon, 19 Oct 2009 08:04:14 -0500

Dreading the day

Did you ever have one of those days when you knew something bad was going to happen for your client and you had no control? Couldn't help them thru the situation? Your hands were tied because of the 'rules'?

My intuition was correct one day last week! $33,000 under appraisal recently on a townhome listing that I have. The appraiser said he was stuck because the only recent sales were those of short sales right in that subdivision. This is playing out that way all over my area and let me tell you I'm sick of it!

The people that lost their homes to foreclosure or short sales are setting a market price that is undervalued and the appraisal industry is complacent and are being pressured by the banking industry.

Now according to appraisal industry standards:

"Appraisers technically shouldn’t consider neighborhood foreclosures when valuing a home, since foreclosures don’t meet the Appraisal Institute’s definition of a property reasonably exposed in a competitive market."

Marketing 101 made simple: short sales and foreclosures are always priced at or less than the 30 day price.

Why must all appraisals suddenly come out low? Why are 2nd rate underwriters in Utah reviewing appraisals and asking appraisers to clarify issues on a home 1000 miles away? The banks are now pressuring the appraisers under the guise of the new HVCC regulations and no one is standing up to them.

How can the market get any better in my area if I can't sell anything and get it to close? So even sellers that are transferred and not in financial duress are held hostage and financially bloodied by foreclosures and short sales. There were other traditional sales in the area within the 1 mile radius but they were dismissed and not considered.

The seller has already threw in her pound of flesh with the deal because she paid $305,000 for this house and sold it for $280,000. This was all her equity gone just so that she could be competitive in the market place and take a transfer. She wasn't unreasonable! She priced the home to be competitive! In fact, she was the largest model with the lowest price and still she couldn't win.

Houses in our area do not drop $50,000 in price in less than a year!