chicago neighborhood: Apple to Contribute $4M to North/Clybourn Red Line "El" Stop
- 10/29/09 06:05 AM
Apple is going to pay to renovate the shoddy red line stop as they are building their second Chicago location where an old gas station was located. The money-stricken CTA has discussed and proposed naming rights since 2005 but they might be breaking the threshold with an Apple deal as budget issues remain a heavy concern. They may have exclusive right to all the ad space at 1555 N. Clybourn. "Doors open on the left on the 'Iphone/Macbook' stop" may be heard in the near future. … (0 comments)
chicago neighborhood: Falling Home Supplies Mean More Multiple-Offer Situations For Buyers
- 10/29/09 05:52 AM
The national housing supply fell to a 2-year low last month, according to the National Association of Realtors®. At the current sales pace, existing home inventories would sell out in 7.8 months -- 30 percent faster versus November 2008. For a 10-month window, that's a major housing supply reduction and it helps to explain why multiple-offer situations have been so common lately. Moreover, the same report from NAR showed sales activity reaching its highest point since July 2007, too. If you're looking for evidence that the long-standing Buyers Market is ending, this month's Existing Home Sales report might be it. Even … (4 comments)
Tired of "wire clutter" where your mobile phones, MP3 players and gaming devices compete for outlet space? The Powermat may be your solution. The Powermat is a 12-inch long wireless battery charger that's conspicuously missing "plugs". Instead, it uses magnetic induction to safely recharge up to 3 devices at once. Just place your phone(s) on the pad and they charge automatically. The Powermat debuted at the 2009 Consumer Electronic Show and was reviewed in video. The reviewers had many positive comments on the Powermat, but highlighted some negatives aspects, too. Give a look and see what you think. Powermat retails for $99 on Amazon.com and … (5 comments)
chicago neighborhood: As Gas Prices Rise, Home Affordability Wanes
- 10/22/09 03:36 AM
With crude oil at its highest levels since October 2008, retail gas is up 8 cents per gallon this week. It's bad news for home buyers and mortgage rate shoppers. The same force that's driving oil higher is linked to rising mortgage rates. We're talking about the weakening U.S. Dollar which is now at its worst levels versus the Euro in 15 months. Crude oil is priced in U.S. dollars, by the barrel. When the dollar loses value, more of them are needed to buy the same barrel of oil. As a result, predictably, the price of crude oil goes up. Now, there are … (1 comments)
Over time, towel racks tend to come loose from sheetrock walls. And, sometimes, they separate completely. The good news is that making repairs is easy -- it's something you can do yourself with a little instruction. In this 2-minute video from ExpertVillage.com, a professional contractor shows that with just a drill and some butterfly anchors, re-securing a towel rack can be a basic handyman job. So, before you call a professional to rehang your towel rack, watch the video and consider making the repair yourself.
Buoyed by a generous tax credit, affordable homes, and low mortgage rates, the Pending Home Sales Index posted its seventh consecutive monthly gain in August. It's the longest winning streak in the index's history and the highest reading in 2-1/2 years. It's also another signal that the housing market is in recovery. "Pending home sales" are a forward-looking indicator, measuring the number homes under contract to sell, but not yet closed. Historically, 80% of homes under contract close within 60 days. Most others close within 120 days. It's no wonder home values are … (0 comments)
It's a sensational headline -- "The Sellers' Deadly Sins" -- but the message is clear. Home sellers make mistakes that not only cost themselves thousands, but sometimes cost the sale, too. NBC's The Today Show lays it out cleanly in this 5-minute video: How to respond to an "insulting offer" How to handle the first purchase offer you receive What do when you can't leave your home for its Open House What room in the home should be kept the neatest But, be aware. At … (0 comments)
The government's First-Time Home Buyer Tax Credit program expires November 30, 2009 -- a scant 60 days from today. Considering it can take up to 60 days to close on a home, first-time buyers have 2 weeks at most to find a home. Buyers not under contract by October 15 have little chance of meeting the November 30 deadline and, therefore, little chance of claiming the tax credit. This is especially true for purchases involving short sales and foreclosures. Congress passed the First-Time Homebuyer Tax Credit program as part … (0 comments)
The traditional, 6-socket surge protector is a ubiquitous product in American homes. It also happens to be rife with design flaws, the most glaring of which is the socket layout. Traditional surge protectors are built for skinny-plugged devices only. Few of today's electronics are "skinny plug". The Socket Sense Expandable Surge Protector corrects the flaw. The Socket Sense matches form and function. It features 6 angled, expandable sockets that make room for even the biggest and boxiest plugs. Its casing stretches from 13 to 18 inches, as needed, and has a slim, fit-anywhere design. … (0 comments)
This weekend, September 26th and 27th, you can walk and view many different kinds of art at the Lakeview East Festival of the Arts. You can visit the website for the Street Map, Street Closures, and the complete artist line-up in alphabetical order. You might find me at booth 123 where mixed media wizard Armando Pedroso(www.armandopedroso.com) will be. Visit the website for further detail. http://www.lakevieweastfestivalofthearts.com/
If you find that perfect piece of art, make sure you explore lighting to accent your artwork whether it be dimming your directional track … (1 comments)
As reported by the National Association of REALTORS®, the number of Existing Home Sales, ending the metric's 5-month winning streak. Newspaper headlines today are overwhelmingly negative on housing. You'd almost believe this year's housing recovery had ended. That's hardly the case. See, the other side of the Existing Home Sales story is that -- while the number of units sold did fall by 3 percent -- the months of existing supply fell by nearly a year. To home buyers and home sellers, this is huge. Home prices are based on supply and demand and with supplies plummeting, it … (0 comments)
As reported by the government, home prices are rising nationwide, up 0.3 percent in July. Furthermore, versus November 2008, the Home Price Index has clawed back to unchanged. The housing market appears to be holding its own. However, we have to be careful about putting our full faith in the Federal Housing Finance Agency's data. It's somewhat flawed. The Home Price Index is a national statistic and all real estate is local The Home Price Index's methodology specifically excludes key housing demographics As an obvious example, HPI only accounts for homes with Fannie Mae- or Freddie Mac-backed mortgage. Lately, the percentage of … (1 comments)
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. It also reiterated plans to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is "picking up following its severe downturn" and that financial markets have "improved further". It's the second consecutive post-FOMC statement in which the Fed appears somewhat optimistic -- a signal that the recession will end soon, or has already ended. That said, the economy still has some soft spots and the Fed made a point to single … (1 comments)
chicago neighborhood: Should You Lock Your Mortgage Rate In Advance Of Tomorrow's Federal Reserve Announcement?
- 09/22/09 04:59 AM
The Federal Open Market Committee starts a 2-day meeting today in Washington. The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets. Consider locking your mortgage in advance of the press release. The FOMC meets 8 times annually and its adjournments are among the biggest market-movers of the year. The Fed's post-meeting press release is a direct look into the mind of the Federal Reserve and Wall Street is looking for clues anywhere it can find them. After its August 2009 meeting, the FOMC said in its press release: Financial markets have … (0 comments)
Lawn care needs change with the season. How your cut it, how you water it, and how you feed it depends on the weather and the forecast. In the video above from YouTube, the gardening expert clearly covers how to maintain a lawn in the Fall. Why to keep leaves off the grass at all times How to set your watering schedule How to set a mowing schedule We also learn why it's important to fertilize. With October's cooler temperatures on the way, it's time to start planning for Fall. This … (1 comments)
Housing Starts on single-family homes took a step backwards last month, falling month-over-month for the first time since January. A "housing start" is new home on which construction has started. Don't let the slowdown fool you, however -- the housing market's recovery is still very much underway. Sales volume is up in most cities Home values are up in most places Low mortgage rates are making homes affordable Builders were bound to take a construction breather sometime -- especially with the looming expiration of the First Time Home Buyer Tax Credit. The last thing they want is to … (0 comments)
According to the country's home builders, the housing market is looking good. Each month, the National Association of Home Builders releases its Housing Market Index report, a survey geared at taking "the pulse of the single-family housing market". Respondents report on three facets of their business, each series weighted and averaged: How are market conditions today? How do market conditions look 6 months from now? How is the traffic of prospective buyers of new homes? For the 3rd straight month, the Housing Market Index improved. It's now at its highest level since May … (0 comments)
As downpayment requirements increase, anecdotally, home buyers are tapping 401(k) plans for extra cash. Classified as a "hardship withdrawal", loans against your retirement funds can be cheap and simple. There's no credit check or approval process There's only a small set of paperwork Money can be available in as little as a day But just because you can get access to your retirement money doesn't mean that you should. 401(k) withdrawals should only be made after careful consideration. There are some serious negatives, specifically with respect to taxation. If you open … (0 comments)
Since 2007, mortgage lenders have clamped down in many areas of underwriting, but none more so than in the area of credit scoring. Minimum FICO levels are up 120 points or more and conforming mortgage lenders now levy large fees on borrowers whose scores are below 740. Keeping your credit scores high is a worthwhile goal, but it's not always easy to do -- especially when you don't know the ins-and-out of how the credit scoring system works. The Wall Street Journal wrote a terrific piece on credit scoring this week. It's full of helpful, relevant … (2 comments)
If you've ever dealt with a broken garbage disposal, you know that just having a plumber show up costs in the neighborhood of 65 dollars -- even if the repair takes 30 seconds. That's why every homeowner should have basic, garbage disposal-fixing skills. Most disposal repairs are the simple kind. In this 2-minute video from eHow.com, we learn the basic tools for fixing a jammed garbage disposal. It's nothing more than a broomstick, an allen wrench, and needle-nose pliers. Anyone can do it, and it's cheaper than calling for a pro. Of course, for disposal problems bigger than … (0 comments)
Apple is going to pay to renovate the shoddy red line stop as they are building their second Chicago location where an old gas station was located. The money-stricken CTA has discussed and proposed naming rights since 2005 but they might be breaking the threshold with an Apple deal as budget issues remain a heavy concern.
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