Real Estate Information

There is a lot of hype about "green living" and "green homes," mostly in relation to increasing the resale value of your home. While it's certainly true that state-of-the-art, environmentally sound products are a great investment, there is something to be said for going green with only your health and the Earth in mind! Of course, if you want to just see bang for your buck, #9 and #10 will boost your home's value to a potential seller and the rest will save you money all year round!

1. Use Healthy Eco-Friendly Cleaners
Many common household products contain toxins that could be affecting your family's health. Buying natural safe cleaning products will help eliminate any risk of unnecessary toxins in your home.

2. Curb Paper Towel and Napkin Use
2.5 million tons of paper towels fill up landfills annually. A great solution is to buy a set of cloth rags, bar towels and fabric napkins to wash and reuse. It may be an added expense up front, but it will pay off in the end.

3. Replace Antibacterial Hand Soaps
Studies have shown that antibacterial soaps are no more effective than simple soap and water. Antibacterial soaps can lead to stronger strains of bacteria that become resistant to antibiotics.

4. Plastic--- Just Say No!
The Wall Street Journal reported that Americans go through 100 billion plastic shopping bags annually and making these bags requires an estimated 12 million barrels of oil. To reduce plastic bag consumption, use alternative options such as; re useable bags, paper bags, or even, no bag at all!
 
5. Replace the Sponge!
Sponges are bacteria incubators. Although a sponge seems like a great cleaning tool, it may not be the healthiest solution. Replace your sponge with dish rags!

6. Create a Recycling and Compost System  
If you don't recycle, the best way to get into the habit is to set up a simple system. Get a second trash can for inside your home and put it next to the trash can and label it recycling. If you are ready to take it a step further, composting is a great way to turn your waste into soil like material that can be used in your lawn and garden.

7. Replace Nonstick Cookware
Nonstick cookware releases toxins when over high heat, has a short life-span (nonstick coating usually wears out in a year or two) and the nonstick coating can scratch off into food. Healthy alternatives include stainless steel, cast iron, copper and glass.

8. Buy In Bulk
Buying in bulk means less packaging and fewer trips to the store. You’ll also benefit from financial savings!

9. Update Kitchen Lighting
Kitchen lights are some of the most frequently used lights in the home. Energy efficient lights may be a high upfront cost but they use 75% less energy, generate 70% less heat and last up to 10 times longer.

10. Buy ENERGY STAR Appliances
If you are in the market for new appliances, choose one that has been proved more energy efficient. Many old appliances use a lot of unnecessary energy.

Do you have any green tips you would like to share? Contact us today!

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Create your own four-course dinner with selections from the regular and seasonal menus at the Custom House Tavern - 500 S. Dearborn St in Chicago's South Loop.

Prices start at $55 with optional wine pairings for $40 extra.

Since everyone should spend Valentine's Day eating food they truly love, Custom House Tavern is encouraging diners to skip the standard prix fixe holiday menus and instead create their own Custom-Made Tasting Menu. For $55, guests can choose their own four-course tasting menu, selecting each course from house favorites and special seasonal offerings from Executive Chef Perry Hendrix and Chef de Cuisine Zach Millican's a la carte menu. For an additional $40, guests can also opt for wine parings.

The Custom-Made Tasting Menu to celebrate Valentine's Day will be available from Saturday, February 11 through Tuesday, February 14. The regular a la carte menu will also be available (some a la carte menu items may not be available for the tasting menu). Reservations are highly recommended for this South Loop restaurant.

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Are ready to buy a home in Chicago's South Loop? If this is not your first move, you know that it can be time consuming, overwhelming and frustrating. Even a good moving plan can be turned upside down with unexpected changes. Being flexible is key when you are planning a move.

Here are some tips that will help you get organized and make moving day a lot easier!

1. Change your address and notify companies before you move. Start by filling out a change of address form in advance of your move. Doing this ahead of time can help you to avoid hassles like past-due bills, service lapses and even identity theft. It is also a good idea before you move to set dates to discontinue your utilities at your old address as well as arrange for these services to be turned on at your new address. .

2. Create a moving schedule.
It is a good idea to set up a moving schedule a few months before you move. Set it up as a week-by-week checklist to manage the process and help to stay on track. A moving schedule helps you to keep track of the little details or things that may be over looked, thus helping you to avoid last minute headaches. 

3. Establish a packing system.
Packing is a major time consumer so thing about coming up with a packing system so all of your boxes end up in the right rooms when they get to your new home. Many professional movers recommend that you use the color code system where you color code each box with a particular room to avoid any confusion with the movers. It is also helpful to give your movers a floor plan of your home with each room labeled.

4. Get rid of unnecessary items.
The less boxes you pack the less you have to move and finally unpack. So it makes sense to thoroughly go thru your items and get rid of the things you just don't need. Items such as unread books, half-empty cleaning products, clothes that you know you wont wear again should be given away or sold at a garage !sale. You don't want to bring the clutter to your new home!

Have you mastered the art of moving? Contact us! We would love to share your tips!

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Become an advocate in Chicago's South Loop for issues like anti-smoking legislation, increased physical activity in schools and nutrition policy initiatives to support Heart Health Awareness Month.

Heart disease is the number one killer of women, a fact that is just now becoming mainstream knowledge thanks to the efforts of the American Heart Association.

For everyone who loves their wife, daughter, sister, mother, etc, please visit the American Heart Associations website for information on how to be heart healthy.

Do you have any tips that you can share with your Chicago community regarding heart health? Share them with us today!

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So, you're ready to buy a home in Chicago's South Loop. Congratulations, this a huge investment for you and your family! Most home owners make mistakes when purchasing a home, especially a first home. Read below about the most common mistakes buyers make - avoid these pitfalls!

1. The “No Money Down” Pitch.  Beware these online or cable TV ‘gurus’ who tell you how to get rich in real estate without a penny down. The only money these guys make is off of you if you buy their CD, book or attend a seminar. It takes experience AND capital to make money in real estate, whether it is one home or ten.

2. All Realtors are the Same, Right? Wrong. Holding a real estate license does not mean that the agent you are talking to is the best one in your market or for your situation. Get referrals, look at the agents sales statistics and interview potential agents carefully.

3. Depleting Your Savings. Most lenders require 20% or more down on a new mortgage. If you don’t have it, wait until you do. Completing wiping out your savings or borrowing a down payment leaves you in a precarious financial situation if something happens.

4. Ignoring Professional Advice. Unless they sound really off base, listen to your realtor and mortgage broker when they offer advice or guidance. You should also do your own homework when looking for the right neighborhood or figuring out the best mortgage package for your family. Let the professionals guide you with their expertise and experience.

5. The “Too Good To Be True” Monthly Payment. Low monthly payments can mean that you are building no equity in your home – even going in the hole on your principal balance. Make sure that you completely understand ALL the terms of your mortgage agreement – from interest rates to monthly payments, and what the consequences are.

6. Landing in the Wrong Neighborhood. Do your homework on the neighborhoods you are looking at. The city should have demographic information, school information and ranking and crime statistics. Is the neighborhood full of foreclosures? It could affect the value of all the homes in the neighborhood. Make sure you understand the comps and the real value of your potential home site.

7. Buying Above Your Means. Tough times mean that everyone has to revaluate priorities. Be sure to carefully consider the features and prices of homes that will really suit your needs and allow you to live comfortably without spending your entire income on your monthly mortgage payment.

8. Foregoing the Home Inspection. Even if the conditions of your loan don’t require a home inspection, go ahead and spend the relatively small sum to get the home thoroughly checked out by an objective third party. You may uncover problems that the seller should be responsible for, and at the very least, you’ll go into the purchase with the right information about the condition of the home.

9. Acquiring More Debt Before Closing. With credit requirements continuing to tighten, rest assured that your lender will run additional credit reports right before closing. If you have made additional credit purchases – from a new car to furnishings for your new home, it can reflect negatively on your credit and your debt to income ratio. In some cases in can cost you your new mortgage, even if you were pre-approved.

10. Sinking Into Debt After Closing. Many people breathe a sigh of relief once the home loan has closed and then immediately begin purchasing for the home or buying items they have been putting off while waiting for the mortgage to go through. Take it easy! You’ve just added a big responsibility with that mortgage payment.

You may not realize it at the time, but many of the decisions you make when looking for a new home will affect your ability to stay in it once the loan has closed. Respect the advice of professionals, do your homework and avoid the common pitfalls of ‘too good to be true' pitfalls.

Contact me today to learn how I can help you with your home purchase!

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Support local Chicago artists by visiting the Black Gossamer exhibit, running through February 11th, at the Glass Curtain Gallery at Coulmbia College located in the at 1104 S. Wabash Ave., 60605.

This exhibit will showcase work by black contemporary artists who use and draw inspiration from clothing, fashion, textiles and fabrications to explore and uncover recent revolutions in black identity.

Times are Saturday from 12pm-5pm and Thursdays from 9am-7pm. Admission to this South Loop event is free! 

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Are you looking to take advantage of this buyer's market in Chicago's South Loop?  There is good news for buyers! An incentive to invest in a home today is available with a Wells Fargo Home Mortgage Gift Program!

Buyers who close on a new home and finance their mortgage with Wells Fargo Home Mortgage are eligible for a closing gift valued at $1,000! Buyers can choose from among many items in the online catalog.
 
If you have already been preapproved by another lender, Wells Fargo will reward buyers for allowing them the opportunity to provide their own preapproval decision (generally within 30 minutes or less) so that  buyers can compare and ensure they are getting the home financing option that meets their needs. Buyers will even get a $50 Wells Fargo VISA reward card for allowing us to give a second opinion.
 
 
Borrowers are eligible to redeem this promotion after closing on any new purchase or refinance loan secured by a first mortgage or deed of trust with Wells Fargo Home Mortgage ("New Loan") as specified above, subject to qualification, approval and closing. This promotion is not available for all New Loan programs and New Loan excludes loans originated with a broker or a correspondent lender. Contact a Home Mortgage Consultant to learn what programs qualify.

This promotion is not available with any other promotion, discount, or rebate. Only one gift permitted per New Loan. FHA New Loans are ineligible for a gift card and are only eligible for merchandise valued in the amount stated in this promotion. This promotion is void where prohibited, applies only to designated promotion recipient and is not transferable, subject to the terms herein.  Redemption period ends within 30 days after your New Loan close date. Gifts may constitute taxable income. Federal, state and local taxes, and the use of the Gift not otherwise specified herein are the responsibility of the Gift recipient. Please present your good faith estimate or preapproval letter at the time of your request for your preapproval. If you have a current lock-in agreement, this is not an inducement to transfer your loan. This promotion may not be combined with any other offers, discounts or promotions. 

Contact me if you are interested in taking advantage of this incentive!

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We've heard that it's a buyers market and that it is challenging to sell your home, but why are some homes on the market for a year while others sell relatively quickly? The better question is, how can YOU sell your home faster? While many people to blame a bad market, a seasoned real estate professional will tell you that very often the listing price is to blame.

If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly.

The secret is perfecting a technique that’s as American as apple pie: comparative shopping!

Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.

A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Market Analysis (CMA). Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months. Typically, it is a realistic price range that will ensure you top dollar and a reasonably quick sale.

However, factors such as the amount of time needed to sell your home can affect the agent's price recommendation dramatically.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer, and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to share with you.

A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you’ve picked is a good range of the home’s worth and won’t discourage qualified buyers.

Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help your agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale.

This challenging market can be overwhelming and confusing. Don't go it alone, contact me if you need some tips on selling your home! 

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