Top Ten Ways to Take the Trauma Out of Home Buying

 

1. Work with a professional and experienced Buyer’s Agent. Let my 35 years of brokerage experience work for you. Home buying is not only a large financial commitment, but also an emotional one. It’s critical that the agent you choose is both skilled and a good fit for your personality.
2. There is no “right” time to buy. If you find a home now, don’t try to second guess interest rates or the housing market by waiting. Changes don’t occur quickly enough to make a significant difference in the total price, especially if you will be in your home at least 3 years.
3. Don’t ask for too many outside opinions. It’s natural to want reassurance for your decision, but too much input can only confuse the situation.
4. Accept that no house is perfect. Focus on the things that are most important to you, such as schools, convenience to transportation, shopping and employment.
5. Don’t try to be a “killer negotiator”. While trying to secure the best possible price and terms is important, be sure you don’t lose the best opportunity.
6. Don’t get caught up simply in the physical details, such as kitchen, baths and room sizes, etc., of the house. Consider other factors as amenities, noise level, traffic or anything else that would impact your lifestyle in your new home.
7. Get pre-approved for your financing. A pre-approved buyer has a strong negotiation position. The strength of your purchase agreement is greatly enhanced by your preparation.
8. Factor in maintenance and decorating costs of your new home in your post-purchase budget. Regardless of the house, there will always be things you’ll want to personalize and change.
9. Accept that “buyer’s remorse” is normal, but quickly passes. The benefits of home ownership quickly outweigh any second thoughts.
10. Choose a home because you love it and it meets your individual needs, and then consider the potential appreciation. The home’s most important role is a safe and comfortable place to live.

If you have questions about this topic or any other real estate topic, send your question to: info@NewHomeExecutives.com

Village of Downers Grove Considers New Avenue for Transit

 

February 21, 2008

By Eva McKendrick

Downers Grove Sun 

Downers Grove residents have several transportation options open to them – the Metra trains, taxis and the Grove Commuter Shuttle. Now the Village Council is in the early stages of discussing a new bus service, and in the meantime, the shuttle is expected to receive some much-needed maintenance. Replacement buses have been ordered for the Grove Commuter Shuttle. Meanwhile, the village is exploring the idea of a new circulator bus system. Courtesy of the Village of Downers Grove.

Transportation systems have never been known as lucrative investments, and the shuttle – with an average daily ridership of 143 in 2005 – is no exception, village officials say. The Downers Grove Transportation Fund is expected to be $1.8 million in the red at the end of fiscal year 2008, officials say. Within the council, the debate over buses has resurfaced. On Feb. 12, the issue was brought up by Commissioner Sean Durkin, who in the past has called the shuttle system a “black hole.” “How are we going to pay this negative balance?” he asked at the Feb. 12 workshop meeting.

Mayor Ron Sandack said the budget has been adjusted to offset the costs. Commissioner Geoff Neustadt said that with newer buses, which are expected to arrive in May, the maintenance and insurance costs will go down. Since 1974, the Grove Commuter Shuttle has been providing service to the Main Street and Belmont Road Metra stations.

In 2005, the Village Council decided it was time to buy new buses for the six shuttle routes. The current buses date to 1991 and 1992. The council approved the purchase of eight buses – six for the routes and two in reserve – which would be paid for by a Congestion Mitigation and Air Quality federal grant. Two years passed, and no buses arrived.In August, the council was told the eight buses they planned to buy would cost more than four times the original estimate. So officials changed the plan, deciding to buy only five buses.

The money will come from a CMAQ grant of $448,000, with the village pitching in $120,260, said Doug Kozlowski, communications manager for the village. The village will buy a sixth bus for $70,000 and keep two of its old buses for backups. The other six current buses will be sold for parts and scrap metal, Kozlowski said. In December 2006, the council voted to increase the fuel tax by 1 cent to keep the system alive. Besides the shuttle, the council also is exploring the idea of a local circulator bus system. Feb. 19, commissioners voted 6-1 to continue exploring a circulator route that would allow off-route pickups by appointment. Durkin opposed the resolution, stating that declining ridership is proof the residents are not interested in a bus system. 

While all other commissioners said they have concerns about the potential costs of a program like a circulator, they said they would like to continue exploring the idea.”We’re not speeding downhill,” Commissioner Martin Tully said. “What we have done is we’re keeping our minds open.”At this point, there has been no discussion as to how the Grove Commuter Shuttle and the circulator would work in together or how much a second bus system would cost the village. Assistant Village Manager Mike Baker said that if the council decides to go ahead with the circulator, those questions will be addressed later.   

January foreclosures up 57%

Foreclosure filings nationwide soared 57% in January over the same month last year, another indication that the nation’s housing woes are deepening.

A study released Tuesday by RealtyTrac, an online marketer of foreclosure properties, showed that 233,001 homes were affected, 8% more than in December. Of that total, 45,327 homes were lost to bank repossessions.  The only good news was the comparatively modest month-to-month increase in total filings.

“It could be that some of the efforts on the part of lenders and the government – both at the state and federal level – are beginning to take effect,” said James Saccacio, RealtyTrac’s chief executive.

“The big question is whether those efforts are truly helping homeowners avoid foreclosure in the long term, or if they are just forestalling the inevitable for many beleaguered borrowers,” he said.

Many mortgage-assistance efforts simply give borrowers a chance to pay off missed payments, rather than lowering monthly payments, which effectively just delays foreclosures. But now lenders claim they are restructuring more mortgages by lowering or freezing interest rates and reducing balances. These solutions are much More likely to help people save their homes.

Merrill Lynch is forecasting home prices will fall by 15% in 2008 and another 10% in 2009. That will likely continue to fuel high foreclosure rates.

If you have questions about this topic or any other real estate topic, send your question to: info@NewHomeExecutives.com Read Full Story at CNN Money: http://money.cnn.com/2008/02/26/real_estate/foreclosures_rise_again/index.htm?section=money_realestate

If I Had a reliable Contractor this Home Would Have Already Sold

Opportunity is knocking at the Door!

 

Hey! Do you have a reliable contractor you are working with? I wish I did. Occassionally I run into an opportunity for what used to be called a “Handyman’s Special”.

Let me explain, I have listed a home that requires some electical,plumbing,carpentry work and some interior cosmetic repairs. The home is listed at approximately 40k – 50k below market, based on recent comparables.

So what’s the problem? So far the feedback I get is that the home is in a good location, but it is a starter type home and there is too much work and expense for a starter home type of a buyer.

So what is the Solution to this problem? I think one solution would be for a small contractor to take on this project; buy this home at well below market and make a nice profit for the effort. If you have a contractor willing to take on this project check out this listing:

Address: 2312 N. Meade chicago,Il Type: Residential Style: one and a half Story Bedrooms: (3-4 )Garage: Double, Detached Size: 1,450 sq. ft. Lot Type: Rectangular Lot Size: 3750 sq. ft. 30ft x 125ft

Paste Link on your browser if it does not open when you click below..

http://www.newhomeexecutives.com/Listing/ViewListingDetailsAuthenticated.aspx?preview=true&listingid=1398439

By the way I will give the selling agent 10,000 Home Perks Points at Closing. What can you get for 10,000 Home perks Points? visit: http://www.homeperks.com  

How Do I Get My Rebate?

 Stories about rebates are all over the Internet. Here is a story about rebates that actually may wind up in our pocket book. This one is from Ilyce Glink’s Blog.

President Bush just signed the stimulus package that authorizes the U.S. Internal Revenue Service to send every taxpayer $600 to $1200 (couples). To get a rebate all you have to do is file your 2007 taxes. There are no special forms required.

This one is from Ilyce Glink’s Blog. Read Ilyce’s full story here:

If you have questions about this topic or any other real estate topic, send your question to: info@NewHomeExecutives.com http://www.thinkglink.com/2008/02/how-do-i-get-my-rebate.html

What I will never take for granted

I was in my “home office” yesterday morning enjoying my first cup of coffee of the day. I am a lucky guy I get to live in Scottsdale, Arizona during the winter months away from my wintery Chicago home.  

As I am checking my e-mail I noticed that my son in Chicago has sent me a message with an attachment, but there is no text just the attachment. It is a picture of my grand daughter enjoying a morning “sprinkle cake” one of our favorite things when she and I are together.

It is just his subtle way of saying “wish you were here”, We miss you!

 We sometimes sacrifice our precious family for our own comforts in life, but I will never take for granted the love a family shares. 

 

Teen Slugs Burglar with baseball bat

Teen who slugged burglar gets his 15 minutes of fame, but Hillerich and Bradsby Co. of Louisville, Ky gets millions worth of free publicity. This story appeared in news media outlets all over the world.

Yeserday a follow up to the story appeared on local Phoenix, Arizona and network TV stations. The young man was awarded a custom Louisville Slugger baseball bat as well as other merchandise, including a plaque honoring him.

I had to smile when a reporter asked him, ” Why didn’t you stay in the closet when the burglar came into your room?”  He replied, “there was no closet door”.

Maybe Home Depot will replace the door free of charge and get themselves some good publicity. 

See Story Below: 

(Credit)

Jim Walsh
The Arizona Republic
Feb. 13, 2008 12:00 AM

A 14-year-old Mesa boy who made a national splash last month after he slugged a burglary suspect with a bat in his home was awarded a custom Louisville Slugger on Tuesday, inscribed with the words “brave, courageous, heroic.”"It meant a lot. It has my name on it,” Michael Six said, after receiving the bat from the Hillerich and Bradsby Co. of Louisville, Ky. “I’ll probably frame it. I just feel famous.”But Michael, a ninth-grader at Kino Junior High School in Mesa, said he’d handle the situation differently if it were to happen again.

“I’d jump out the window first. I just wouldn’t want to have myself in that position,” he said.Michael’s act of self-defense Jan. 15 swept the nation. He appeared on the Today Show and CNN.”I just thought it would make the newspapers. I didn’t think it would be so big,” he said. “It was a little more than a home run.”

Michael’s actions were recorded on a police 911 call. Hillerich and Bradsby listened to the tape and decided to honor Michael, who was hiding in a closet inside a bedroom while talking to a dispatcher.

The burglar was armed with a screwdriver and was rummaging through Michael’s backpack when the boy sprung from the closet and hit him with an aluminum Louisville Slugger in the lower back and on his left shoulder. The burglar could be heard cursing at Michael on the tape and grabbed the bat away.

“Sorry, man,” Michael yelled back

Police later arrested Thomas Gonzales Garza, 30, of Chandler, who has been charged with burglary, aggravated assault on a minor and three misdemeanor counts of criminal trespass.When asked what he’d say to Garza if he saw him again, Michael said, “Thank you for not killing me.”Hillerich and Bradsby representative Jim Snyder also presented Michael with a batting helmet, some clothing with the company’s logo on it, and framed letter from John A. Hillerich IV, the company’s chief executive officer.

“Michael, you are truly a hero and we are honored to have our Louisville Slugger name associated with yours,” the letter said.

Mesa police are planning to present him with a citizen’s meritorious service award, said Chris Arvayo, a police spokesman.

Michael said he’d like to be a Highway Patrol officer someday. “I would sit there, eat donuts and watch for speeders,” Michael said.

Buyer’s Representative?

If you are in the market to purchase real estate, you should be seeking out the services of a Buyers Agent.  An Exclusive Buyers Agent title reflects that the Agent, the Broker, and the company work for and represents Buyers.  This means that their fiduciary duty in any real estate transaction is limited to you, the buyer. It’s the first and best step you can take!

What will it cost?  How does it work?

Obtaining the services of an Exclusive Buyers Agent provides you with representation – a market expert to share their knowledge and experience while working on your behalf, at no cost to you.In the business of real estate, the Selling Agent (meaning the one that brings the Buyer) is paid on what we refer to as a “standard co-broke”.  Whether you buy a new home or an existing (resale) property, in a typical real estate transaction the seller pays the commission and in that commission agreement is an allotment for a Buyers Agent or cooperating Agent. 

If you contact the Selling Agent and don’t utilize the services of a Buyers Agent, the Agent you contact is now working on behalf of the transaction between both parties.  This is what we refer to as a “transaction agent.”  In most cases, the total commission agreement is going to one party – the listing agent or office – so there is conflict of interest.At New Home Executives, we have no conflict of interest since we are paid the same amount whether you buy a new home or an existing property.  Because our fee is dictated by the Seller and does not fluctuate our objective is clear:  We take care of our clients.  We take care of you.

So what makes New Home Executives different?

The services that we provide to our clients are not limited to the new home market.  We have information on all homes currently available for sale.  Our experience in the area where you wish to find a home and the relationships we have built there with builders and developers benefit our clients.  We know what is happening now, and in most cases we can tell you about new developments, pricing, availability, builder reputations … the list goes on.

As members of the National Association of Realtors, the Illinois Association of Realtors, and through participation in our local Realtor Associations and the Multiple Listing Service (MLS) we adhere to the Realtor code of ethics and a higher standard of service. New Home Executives Buyers Agents are Market specialists.  We are able to identify those properties and neighborhoods that meet the needs of our clients.    We welcome your inquiry and thank you, in advance, for the opportunity to be of service!

If you have questions about this topic or any other real estate topic, send your question to: info@NewHomeExecutives.com

Have You Seen The Pony Express?

Have You Seen The Pony Express Riders? The Hashknife Pony Express makes its ride every January traveling 200 miles from Holbrook to Scottsdale, Arizona, and delivering 20,000 first-class letters by horseback. The ride is led by the Navajo County Hashknife Sheriff’s Posse. More than two dozen riders in authentic cowboy clothing carry the mail, relaying the bags along the route. The arrival of the Hashknife Pony Express in Scottsdale kicks off the annual Parada del Sol. 

I had the opportunity to see the Hashknife riders make their mail delivery to the downtown Payson, Arizona post office yesterday afternoon. It was an awe inspiring event, especially for the young kids who anxiously waited, as the riders galloped on horse back into town. 

Neither rain, sleet, nor dark of night can stop the Hashknife Pony Express. Each January for the last 50 years, the old west is brought to life as an elite group of riders thunder through Arizona. I am proud to say that my son is one of the riders.  This exciting event is the oldest officially sanctioned Pony Express in the world. Each rider is sworn in as an honorary mail messenger braving weather, terrain, and modern-day obstacles to deliver the United States mail.

 

Read all about the Hashknife Pony Express   http://www.hashknifeponyexpress.com/