Scott's Blog

Posting Listings on Facebook

Scott Gerami (Real Time Realty,LLC.) — Wed, 11 Feb 2009 11:12:14 -0600

I just received an email yesterday from a company called elistit.com offering a service to post my listings on my Facebook profile page. I love the idea the only problem is I signed up for the free 14 day trail( $99 per year /unlimited listings) and entered a could of listings and it seem to have taken forever.

My question is there another way to do the same thing and not have to manually post all the data? I'm all about posting my listings to as many sight as I can. Especally free sites but if I have to manually enter them that's all I will be doing every day. ( I know just hire someone to do it for me )

If anyone has a suggestion or better way/service please share.

$15,000 Homebuyer Stimulus Plan

Scott Gerami (Real Time Realty,LLC.) — Tue, 10 Feb 2009 08:46:24 -0600

$15,000 Homebuyer Stimulus Plan
Tuesday, February 10, 2009

Congress is to vote on the Homebuyer Stimulus bill some time today. Hopefully it will not be modified in any significant way. The bill proposes up to a $15,000 tax credit for homebuyer that purchase a home within one year of the signing of the bill. And unlike last years $7,500 tax credit that needs to be paid back this bill does not. The credit can also be split into two years if the homebuyer wishes.

This plan will increase demand for housing with will decrease inventories and help mitigate foreclosures. I will post a follow up after the bills gets passed or amended in the house.

Trailer Trash Acts!

Scott Gerami (Real Time Realty,LLC.) — Mon, 09 Feb 2009 07:04:18 -0600

Yesterday, I was showing homes to a client in the Romeoville and Plainfield areas of Illinois and I showed 3-4 homes that were REO's and all of them were missing all the kitchen appliances including the garbage disposal?

But that's not the topper, one house we went into not only was missing all the appliances but the Stu@#$ homeowner took every light bulb, all the door handles, kitchen and bathroom knobs and door casing. But left a nasty looking desk in the basement. And based on the overall condition of the property I would guess that the things the homeowner took out of the house were just as nasty as they were.

Maybe they wanted the stuff for the front lawn of there new trailer.

Come on people, these people need to be held responsible and accountable for vandalizing the homes before they get thrown out.

There should be a website that publishes the names and shows photographs of the properties these people left behind. A photo is worth a 1000 words.

In this day and age with the internet being such a huge part of our lives (Facebook,Twitter,My Space,Linked in) someone should design and publish a website that would shame people that do things like this.

I think people would think twice before doing such stupid acts.

This is probably the homeowners new home?

$15,000 Buyer Tax Credit!

Scott Gerami (Real Time Realty,LLC.) — Fri, 06 Feb 2009 09:03:15 -0600

Finally some good news from Washington to help Heat up or real estate industry.

The new credit, approved by the Senate Wednesday night, Buyers would get 10 percent of the purchase price of any home, up to $15,000, applied to their tax bill.

Consumers would be allowed to spread out the credit over two years, making it possible for those who pay less than $15,000 in taxes to benefit. Anyone who buys a home within a year of the bill's signature would qualify. To deter speculators, buyers must occupy the house as their main residence for at least two years.

The total cost to the federal government is estimated to be between $19-$36 billion dollars. That seems like a drop in the bucket compared to all the other usless projects and funding that has been approved in the last six months.(My Personal favorites are:$4 million dollars for wooden arrows and Puerto Rican rum, racetracks and film producers.) But that's for another blog.

Short Sale Website

Scott Gerami (Real Time Realty,LLC.) — Fri, 26 Dec 2008 15:49:13 -0600

I am trying to develop a Forclosure and short Sale Website. www.localshortsalesinfo.com I would appreciate any comments or suggestions. I posted You Tube Video's and a Google search bar on the site. Check them out and post feedback.

Permanent Loan Limit Increase Key to FHA Reform Bill

Scott Gerami (Real Time Realty,LLC.) — Fri, 21 Mar 2008 09:04:02 -0500

Dear Senator Barack Obama,

As a constituent and a REALTOR, I want to stress how important it is for FHA reform legislation to be quickly enacted. These bills, passed the House and Senate in 2007, are now stalled in conference. Permanent increases in the FHA loan limits, lowered FHA downpayment requirements, and new opportunities for condominium purchases are needed to create safe and affordable mortgage options for our state's homebuyers and those wishing to refinance. These changes will also provide much needed stability to our local housing markets and economies.

The new loan limits passed in the recently enacted Economic Stimulus bill will expire in less than 10 months. Dramatically reducing these limits at year's end will push our nation's fragile housing markets into turmoil once again. Realistic loan limits that permanently help ALL areas of the country are needed to bring stability to the marketplace.

FHA's downpayment levels led many borrowers to opt for the exotic, risky mortgages that have been the hallmark of the foreclosure crisis. The FHA reform bills will allow FHA to modify downpayment requirements and offer flexible financing to eligible borrowers.

In many areas of the country, condominiums remain the most affordable option for homeownership, but FHA owner/occupancy and documentation requirements, make it very difficult to purchase a condominium using FHA mortgage insurance. The FHA reform bills will move condominium financing programs into FHA's single-family program where they belong and ease the way for condominium purchases.

We cannot wait any further for FHA reform. Pass a permanent FHA reform bill NOW to give American homebuyers and homeowners the peace of mind they so desperately need.

Sincerely,
Scott Gerami
104 Settlers Drive
Naperville 60565

Podcasting 101

Scott Gerami (Real Time Realty,LLC.) — Tue, 15 Jan 2008 08:04:41 -0600

I just enrolled in CNET's Free online course that walks you step by step how to produce your own podcasts. I am interested in producing podcasts on various real estate related subjects that I could share with potential buyers and sellers. I plan on enhancing my website as well by archiving all the topics.

Here is the Link to CNET's Online Class"

http://podcasting-101.classes.cnet.com/assignment-1/trackback/

Scott Gerami-Broker Owner

Real Time Realty Racing!

Scott Gerami (Real Time Realty,LLC.) — Fri, 16 Nov 2007 16:16:19 -0600

Scott Gerami #24

Well after a great 2007 session we are already making plans for next years session. Next years session will include one international race in Canada and 10 scattered across the united states. Real Time Realty is also a sponser of the Viper Racing League we refer agents across the united states to the drivers and crew that want to buy or sell residential or commercial property any where. Any agents interested in participating in sporting the VRL contact me via email and send your contact information and service area.

For more information on the Viper Racing League vist http://www.viperracingleague.com/ or Sports Car Club of America www.scca.com Real Time Realty www.rtrnow.com Scott Gerami www.naperhomes.com

Naperville Home For Sale - Pool & Clubhouse Community

Scott Gerami (Real Time Realty,LLC.) — Wed, 21 Mar 2007 13:37:42 -0500

3012 Rollingridge Road - Naperville IL

4 Bedrooms - 4 Bathrooms - 3 Car Garage

Priced at $715,000

This home has it all ! Center Family Room with Open Catwalk-2 Sty Fireplace-Gourmet Kitchen w/center island,granite tops,&maple cabs-SS Appls-Master Suite w/Luxury Bath,Whirlpool,Sep Shwr,&Dbl Vanity-Finished Bsmt w/Media Room,Exercise Area & Bath Rough-In-Additional Features include Sprinkler Sys,Sec & Intercom,Custom Window Treatments,Zoned Heat & A/C,Lots of Storage-Close to Shopping & Entertainment-A Must See !

Virtual Tour

Downtown Naperville - Custom Home For Sale

Scott Gerami (Real Time Realty,LLC.) — Wed, 21 Mar 2007 13:31:19 -0500

523 W Benton - Naperville IL

4 Bedrooms - 4 Bathrooms - 2 Car Garage

Priced at $1,085,000

Best Deal In Downtown Naperville-Quality Steve Carr Custom Home -9 foot Ceilings in Basement,1st & 2nd Floor,Oversized Doors on 1st Floor, Gourmet Style Kitchen,2 Fireplaces,Zoned HVAC Systems! Security System,Pella Vinyl Clad Windows-Custom Paver Driveway,Professional Landscape Package,Home is complete-Ready to Move In ! Walk to Town,Train & Schools!

Virtual Tour

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Read the Fine Print

Scott Gerami (Real Time Realty,LLC.) — Sun, 18 Feb 2007 07:41:44 -0600

Many states require the seller of a home to fill out a real estate disclosure statement when transferring the title. The disclosure is designed to reveal any material defects in the home to the new owner. When buying a home, take the time to read the fine print of the disclosure form.

Look for a section that asks the seller to indicate the material defects that exist in the home's major systems. Most forms will specify interior and exterior walls, ceilings, roof, insulation, windows, fences, driveway, sidewalks, floors, doors, foundation, and the electrical and plumbing systems. As the buyer you will want to know of defects in any of these areas.

Sellers are required to note the presence of environmental hazards or zoning violations. They must disclose if there are any encroachments or easements, or walls or fences shared with adjoining landowners. Room additions or repairs made without the necessary permits or not in compliance with building codes must be noted. Sellers must disclose citations or lawsuits against the property. If any such conditions appear on the disclosure form, consult with your real estate agent immediately regarding how to proceed with negotiation.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

The Zoning Variance

Scott Gerami (Real Time Realty,LLC.) — Sat, 17 Feb 2007 08:42:49 -0600

When you are selecting land on which to build your new home, be certain to investigate the zoning for that particular area. You might fall in love with rural acreage that just happens to be zoned for agricultural or recreational purposes. Since zoning uses are not interchangeable, you would need to apply for a variance in order to build a single-family residential dwelling on the land. This can be a challenging process!

Getting approval to have the zoning changed on property requires that you first give public notice, and then request approval for a variance from the government agencies that supervise enforcement of the zoning plan. You might encounter resistance from neighbors or various local interest groups who oppose the zoning changes that would allow you to build your dream home.

Your local planning department can tell you how a particular property is zoned and explain what you need to do to get a variance. Your real estate agent may be able to refer you to a local land use attorney who can guide you through the process.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Zoning In

Scott Gerami (Real Time Realty,LLC.) — Sat, 17 Feb 2007 08:41:21 -0600

Every city and county has zoning laws that define and restrict how property owners can use the land. The purpose of zoning regulations is to establish development standards and to ensure that the land is used for the common good.

There are restrictions on both the type of structures you can build and how the property can be used. Common zoning categories are residential, agricultural, industrial, commercial and recreational. There are sub-categories such as single-family residential zones and multiple family residential zones, (areas where condo and apartment complexes are permitted.)

Zoning ordinances also contain restrictions on the height and square footage of the buildings, the number of stories allowed and how close buildings can be to one another. They state what kinds of facilities are required for each form of use -- for instance, a residential property must have a driveway. Whether you intend to buy a new piece of property or improve one that you already own, zoning laws will dictate what you will be able to do with your land.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Tips for First Time Investors

Scott Gerami (Real Time Realty,LLC.) — Fri, 16 Feb 2007 07:59:54 -0600

When starting out as a real estate investor, you can choose either the conservative approach of holding a property until it increases in value or the riskier approach of "flipping" - reselling very soon after making some improvements that add value. If you plan on taking the safer approach, keep the following factors in mind when searching for the right investment property.

Look for a house or apartment unit that is close to where you live, so inspecting the property and overseeing maintenance will be easier. Choose an area where there is clear potential for future development, and you will benefit from the inevitable increase in property values. If you have the choice of either buying a newly built or recently remodeled home or a less expensive house in the same neighborhood that needs a cosmetic makeover, buy the bargain property and upgrade it for a better long-term return on your investment.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

The Inspection Report

Scott Gerami (Real Time Realty,LLC.) — Fri, 16 Feb 2007 07:56:40 -0600

Are you looking for a home and becoming tired of house-hunting? If so, you may be tempted to buy a bargain-priced home "as is" and forego the home inspection. But without the inspection report, do you know what the "as it" refers to? Wouldn't it be better to know what condition the home is in before you buy it?

The inspection contingency allows the buyer to enlist the services of a licensed home inspector within three to seven days after the purchase agreement is signed. The inspector will go over the property from top to bottom, evaluating the condition of all the basic systems and structures of the home in order to identify conditions that may be considered material defects and thus may affect the market value or the safety of the home.

The inspector's report is the only documented proof of the actual condition of the property that is being sold. It is a valuable tool that helps you negotiate the sales contract and gives you information about future maintenance projects. The cost of an inspection is well worth the peace of mind it provides.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Such A Deal

Scott Gerami (Real Time Realty,LLC.) — Thu, 15 Feb 2007 07:59:56 -0600

Most sellers know that buyers are attracted to homes that are spotlessly clean, well-maintained and tastefully decorated. Sometimes the seller can't make the extra effort to prepare the home for showing. Some real estate listings are being sold to settle estates or by someone who has been transferred unexpectedly and didn't have time to complete the necessary cosmetic repairs. Homes that need work are often exceptional values.

When a real estate agent shows you a house that needs help, try to imagine how it would look with new carpet, a fresh coat of paint and your furniture settled inside. Because the condition and overall appeal of a house have such an impact on the selling price, "fixer-uppers" are often priced lower than comparable homes. If the home is structurally sound and has updated systems, a small investment of "elbow grease" and paint could make it look fabulous.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Less Than Market Value

Scott Gerami (Real Time Realty,LLC.) — Thu, 15 Feb 2007 07:57:53 -0600

Real estate ads are sprinkled with terminology that often puzzles consumers who don't have applied knowledge of housing industry lingo. Internet homebuyers find that information about properties is often presented in abbreviated form or unfamiliar language. Shedding a little light on some basic real estate terms may help you locate a home that is available at a very affordable price.

'MLS' refers to the Multiple Listing Service, which is the national database of listed homes for sale. Some real estate web sites allow homebuyers to preview local listings that appear on the MLS. If you see a real estate ad for a "FSBO", it means that the property is for sale by the owner, who is declining the services of a Realtor. A home listed "As-is" is being sold in its existing condition. A "bargain sale" home is priced at less than its market value, and a "fixer-upper" is priced low because it needs refurbishing.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

House Bargains

Scott Gerami (Real Time Realty,LLC.) — Tue, 13 Feb 2007 11:06:32 -0600

Houses that are spotlessly clean and tastefully decorated tend to sell quickly, and for top dollar. There can be substantial savings for home-buyers who are willing to purchase a property that needs cosmetic improvements.

When you look at a house that needs work, try to imagine it with fresh paint, refinished floors and new carpet. Consider the attractive features of the home. Would it get more sunlight if the draperies were opened and the windows cleaned? Does the back yard have potential?

Try to distinguish between the cosmetic condition of the house and the state of its structure and major systems. Some fixer-uppers need a lot of professional attention from electricians, plumbers and other expensive professionals, while others are true bargains that can be transformed with a little elbow grease, a paint brush, and your imagination.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Get Rich Quick with Real Estate

Scott Gerami (Real Time Realty,LLC.) — Tue, 13 Feb 2007 11:05:28 -0600

You see them on cable TV, sitting around a swimming pool, sharing stories about how they got rich quick by buying valuable real estate for give-away prices. They took a course on how to invest in real estate and became millionaires overnight--with nothing down and no credit hassles from mortgage lenders. The course worked for them, and they say it will work for you, too.

If all this sounds too good to be true--it is! These "get-rich-quick" courses and schemes are being investigated by consumer fraud agencies around the country. This does not mean that you can't become a millionaire by investing in real estate. But investing in real estate requires one important thing from you--an investment of cash. You can't build an empire overnight, but you can do very well over the long term by selecting property in a good location that is priced well, and which can provide a reasonable cash flow.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Bargain Homes

Scott Gerami (Real Time Realty,LLC.) — Sat, 10 Feb 2007 08:41:51 -0600

Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes sell for bargain prices because they need work. Buyers love "fixer-uppers" for the obvious reasons: the affordable price and the satisfaction of remodeling the house to accommodate your tastes and needs.

Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value (usually 25%) to allow plenty of room for a profitable re-sale after the work is completed.

It is important to educate yourself before taking on a fixer-upper project. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar invested. Landscaping, carpeting, and light fixtures are also relatively inexpensive improvements. Try to avoid purchasing a house that needs expensive structural improvements such as a new roof, plumbing, wiring, or foundation repairs.

Remodeling a kitchen will rarely add more than the cost of the upgrade, but new appliances usually give a fine return. An extra bathroom is the best renovation from an investment point of view, often giving twice its cost in added value.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Diamonds in the Rough

Scott Gerami (Real Time Realty,LLC.) — Sat, 10 Feb 2007 08:39:53 -0600

There are a lot of "diamonds in the rough" for sale. A property with incredible potential may be in a great location, have large sunny rooms and a big yard, but it may also have dated wall paper, worn carpeting, and uninspired bathrooms. If you can look beyond the surface, you may see a house that could be transformed by a little "elbow grease", paint, and new carpets.

A house that is structurally sound with all the systems in good condition may be only a few cosmetic repairs away from being fantastic! A home that does not show well is usually priced accordingly. If the price doesn't reflect the condition of the house, the seller may be more willing to negotiate than a seller who has made a considerable investment in preparing a home for the market.

Bring your imagination with you on your next house hunting trip! You may be pleasantly surprised to find a diamond in the rough.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Affordable Real Estate

Scott Gerami (Real Time Realty,LLC.) — Fri, 09 Feb 2007 11:41:49 -0600

Are you still writing those checks to your landlord every month to keep a roof over your head, but not accumulating any home equity? If you are still renting because you think you still need a fortune to get into your own home, you should investigate today's real estate market.

Interest rates are still relatively low, which means that mortgage loans are affordable, with payments potentially in the range of your current monthly rent. Qualifying for a loan was never easier, especially since lenders have increased in large numbers and are competing for your business. Even if you couldn't qualify to buy a home just a few years ago, you may be able to qualify today. There are a number of government programs and mortgage packages which require small down payments, in the three to five percent range--and that is not even talking about the tax advantages! Think about it the next time you write a rent check.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Advice From Real Estate Agents

Scott Gerami (Real Time Realty,LLC.) — Fri, 09 Feb 2007 11:39:54 -0600

When buying a home, it is essential to cooperate as closely as possible with your real estate agent. This can be challenging, especially if your agent asks you to do some things that you don't particularly want to do to in order to get you moved into your new home as quickly as possible.

When real estate agents advise you regarding ways to make the transaction work, they are acting as part coach and part business consultant. If you find the house you love and want to "sleep on" the decision for a few days, the agent knows that you run the risk of losing the house. If you are inclined to complicate your offer with clauses that might make the contract unattractive to the sellers, the agent may ask you to consider some modifications. Should you call the week before the closing with an attack of "buyer's remorse", your agent knows the cure. Following your real estate agent's suggestions will increase your chances for a successful move!

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

A Home With a History

Scott Gerami (Real Time Realty,LLC.) — Thu, 08 Feb 2007 08:23:49 -0600

A colorful history can add significantly to the value of a home. Researching the provenance of a property you are interested in buying can be both interesting and ultimately profitable. The market value of a home will be greater if it was designed by a notable architect, built by a company with a reputation for the finest construction, or lived in by a celebrity who hosted famous guests.

Ask your real estate agent if there is any historical data of significance associated with the home, or if previous owners were VIPs. Note the names associated with the deed and title to the home, and look them up with the help of the local historical society. Consult the microfiche in newspaper archives for references to colorful details of the home's past. The county assessor's office may have records of the date the home was built, and building permits may reveal the name of the architect. When inspecting the home, search closets and attics carefully for hidden historical "treasures".

Buying an older home at a bargain price, then re-selling when it is renovated and restored can be an enjoyable and lucrative adventure.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com

Termites

Scott Gerami (Real Time Realty,LLC.) — Thu, 08 Feb 2007 08:20:34 -0600

Most home purchase agreements have clauses that deal with termites. After the agreement is ratified, a termite inspection is arranged. Before the closing can occur, the sellers must be able to produce papers signed by a licensed exterminator stating that the house is free of infestation and that any termite damage has been repaired.

Before you sign an agreement to buy or sell a home, you should read the termite clause and be sure that you understand it. Who selects the exterminator and pays for the inspection? If bugs are found, who pays for the treatment? Are the sellers obligated to repair any damage and have they placed a limit of the dollar amount they will spend on those repairs? If treatment is required, the buyers may want a chance to discuss the options with the pest control company, especially if someone in the family is sensitive to the chemicals used to control the termites. Ask about the exterminator's guarantees or service contract options.

Scott Gerami
Broker/Owner
Real Time Realty
630-357-4800

Naperhome.com Move2geneva.com Move2Naperville.com