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Articles from Chicago Real Estate Blog

Many New & Re-listed Properties on the MLS 2007-01-02 10:03:00 Just a heads up! This is a great time (first business day of 2007, btw Happy New Year) to take a closer look, regroup or start fresh with your search for a new Chicago home! I was browsing some of my property alerts and quickly realized that I had about 10 times as many properties for each property search alert I monitor on a regular basis. Why? Well just think about how many people were “waiting until the first of the year” or had listings expire at the end of 2006. Buyers, there are more then a few diamonds in the rough out there. Sellers, there are many buyers just waiting in the wings ready to go. It’s time are you ready? Search Chicagoland real estate here: http://www.ChicagolandRealEstateListings.net Contact Team IllinoisRealEstate.com City: Brian Nygard 312.217.8002 All Suburbs: Scott Epstein 312.622.6313 info@illinoisrealestate.com ... Amp

Most Updated Real Estate Searching (Timely Updates - How To) 2006-12-28 15:06:00 Did you know they update the MLS database throughout the day? You can manually search updated listings here: 'Chicago Real Estate Search' or 'Chicago MLS', like all the other websites out there. BUT... The truth is these websites are not updated as quickly as a real estate agents MLS access (normally delayed a day or 2 or 3!). So... the bottom line is the BEST method is to have us set you up with an automated search directly from the MLS that will send you any updates via email twice a day - or more - (morning and evening). If this is of interest to you simply drop us an email or phone call with your criteria and we'll set everything up. It's really the only way to keep up with the newest listings in a timely manner. Have a great day! Brian & Scott TeamIllinoisRealEstate.com RE/MAX Grand info@illinoisrealestate.com ...

Open House List 2006-12-28 13:47:00 I was recently was ask if looking in the newspaper was the best way to find open houses. Answer: Well maybe in the early 1990's... With today's Realtor technology it is much more efficient to utilize the MLS for a precise list of open houses in the area and criteria you are focusing on. If you would like a list of scheduled open houses simply email me at brian@illinoisrealestate.com with your home search criteria or feel free to call me direct anytime at 312-217-8002. Chicago Real Estate Forum Extended Discussion About Chicago Open Houses. Hope to see you there! ...

What's In, What's Out with Homebuyers in 2007 2006-12-14 06:03:00 IN -The housing correction. -Homes that are priced right. -Online home valuation sites (Zillow.com). (Brian says: So will be out soon IMHO) -Market timing. -Savvy buyers. -Third places or officetels. -Upscale garages. -Caving. -Two home offices. -Rejuvenation rooms. -Heated patios, walkways and driveways. -Snoring rooms. -Modular Housing. -Sustainable Design. -Structured wiring. -Mixing finishes on kitchen base and wall cabinets. OUT -"As is" in home sale marketing. -Buyer incentives. -Endless Open Houses. -Over-full-price offers. -Bedrooms not large enough for a bed. -Loads of glass upper kitchen cabinet doors. -Bowl-shaped above-counter bathroom sinks. -Any shiny metal finish. -Stainless-steel refrigerators and dishwashers are a fading trend. -Spiral staircases. On the way out -Bamboo floors. -Hardwood laminate floors. -Home sellers who smoke in their home while it is being marketed. -- Source: What's In, What's Out with Homebuyers in 2007 by Mark Nash is based ...

She’s Heard it All 2006-12-11 13:29:00 Laugh While You Learn! She’s Heard it All and So Should You: Edith Lank, Nationally Syndicated Real Estate Columnist, Shares Funniest Letters from Readers Lank answers her readers’ questions with humor and patience, providing a wealth of knowledge in bite-sized, digestible answers. Following are a few examples of readers’ questions: “…please send all information on how to sell our home without using a “realator.” I think you call it being a FSOB…” “I would appreciate any information on Fanny Mae. Also if she has any books out…” “Would adding extra to our mortgage payment save us money in the long run? If so, should we pay extra on principal, interest or escrow?” -- Source: http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20061211005802&newsLang=en Discussion: Post your comments ...

The Hulksters Mansion Is Now Off The Market - But Let Me Know If You Want Me To Call Him Anyways... 2006-12-10 16:28:00 "The pack is back Hulk Hogan garnered a lot of media attention when he put his Belleair, Fla., mansion on the market, asking $25 million. Now the home is off the market, according to the wrestler-turned-TV star. Hogan told the St. Petersburg Times his family had bought a $12 million home in the Miami area to live in while he taped his show, "Hogan Knows Best" but said his family had decided to return to Belleair. The neighbors are groaning. Before the Miami move, the family had been embroiled with local officials over the menagerie in the house: six dogs, two cats, three French hens (no, I'm not making this up) and 11 other birds, two toxic frogs (see previous note), five tortoises, two chinchillas, two ferrets, two iguanas, two rabbits and a rooster named Lilly. Eventually, a court found the Hogans in compliance with laws that limit the number of animals in a household, though Hogan managed to hang on to a few extras by getting them designated as "actors," as opposed to pets." ...

Searching For Real Estate, Try Requesting a "Hot Sheet" 2006-12-08 14:22:00 The “Hotsheet” (not "hot seat" per image) is an easy way to keep informed of what is going on in the local real estate market. By specifying a certain time frame you can track sales, adjustments in prices and additions or expirations in listings. The “Hotsheet” generates an up to the minute report for all new and changed listings for today or for a period of time prior to today (Days Back). Let me repeat, THIS REPORT IS UP TO THE MINUTE! It is generated directly from the Northern Illinois MLS that real estate agents have access to. So if you are tired of missing out on the new listings or ever wondered why you find out about the “new” listings 2 or 3 days late, this is the answer. There is no fee for this service and no strings attached so feel free to test what I’m telling you, simply email me at brian.nygard@remax.net. I will have this report back to you within minutes. Simply email me with the following: 1. Area(s) of Interest 2. Price Range 3. Type if ...

Another Reason To Buy 2006-12-08 12:12:00 "Did apartment finder cut into rival's business? Agent accused of slashing tires on competitor's vehicles" As I mentioned at YOChicago, "What's next "Real Estate Death Matches?"… First Up Apartment People Vs. Apartment Finders anything goes!" Discussion here: http://www.illinoisrealestate.com/forum/showthread.php?p=51#post51 Read the article here: http://www.suntimes.com/news/metro/164944,CST-NWS-tires08.article ...

"Bare Bones Discounts in Chicago" 2006-12-08 11:26:00 I recentely read an ariticle or wait was it an ad on an blog intitled, "Bare Bones Discounts in Chicago". Basically my comment was: "“Discount brokerage as low as $350? - I’ve seen more and more adds of real estate agents doing this, but not exactly sure how I feel about it from a Realtor’s prespective. I did this once and it seemed to me much more of a headache then what it’s worth. Believe me it’s not exactly handsfree. I felt kind of like I was putting my name and broker’s rep out there and at risk so I got involved anyway. For one the selling agents will call you and then you feel somewhat like a jerk having to explain the situation. Also when I run into these when working with biuyers i always say to my self, ah come on already, this sucks!" What do you all think about these "Flat Fee MLS" / "Hands Free" lisitngs? I'd be interested in hearing opinions from different points of view (Realtors, Brokers, Attorneys, Buyers, Sellers, etc) - Please visit the dis ...

It's not the bells and whistles... 2006-12-07 06:55:00 A 2007 Ford Focus doesn't look like a carrot, but Cindy Buchholz hoped it would be the bait that attracted buyers to her $800,000 home. The real estate agent's house had sat on the market for five months when she decided in mid-October to add an incentive in the form of a Focus valued at $18,000 to $20,000. She told a friend who works at a car dealership to expect an order for the vehicle as soon as she sold the house, on Eddie Drive in Glen Ellyn. But after buyers failed to bite for a month, Buchholz peeled the car incentive off of her offer and lowered her asking price to $775,000. Her home sold within weeks. Read Entire Article / Source: http://www.suburbanchicagonews.com/ article By: Paige Winfield, Staff writer -- I've heard about luxury cars as incentives, but a Ford Focus? What about the one where the seller had a car to give to the agent that sold his house, kind of hard to split that one 80/20 with your broker. ...

Chicago...Now and Later 2006-11-30 19:39:00 Chicago Metropolitan Area 2006 and 2016: I just sharpened my weblogging pencil and according to Aol.com Money who published an article from Forbes.com who got their info from Moody's Economy.com--let me catch my breath... According to all those people the home I purchased three years ago increased more in value already than its expected to increase in the next ten. Not so sure I concur (or wish to) with Malcolm Jr on this one but decide for yourself by clicking the hyperlink on the title above. Now the attached chart includes Naperville and Joliet ( good, bad or wash?) but nevertheless it shows the median price at $290,953 today and projects $360,018 in the year 2016. Median, from what I remember in Freshman Economics 101, means there are as many houses above as below this number. The article also cites several other metropolitan areas and has all the usual sidebars and insets of the biggest, slowest, hottest etc. Oh well, at least everything is pointing in the right direction. ...

Selling a House Then Buying? Read On... 2006-11-28 15:42:00 This story is an interesting little yarn from today's Boston Globe via NakedRepublic.com The Setting: "You put in a contract on a new house. You can't sell your old house..." The Atmosphere: "The sellers are getting pushy..." The Solution(s)? Simply click and read for one writers opinion. Also, search this blog and mine for additional thoughts on the subject. ...

Downtown landlords should enjoy another good year 2006-11-27 10:53:00 With rents and occupancy at record highs, downtown apartment landlords are in the middle of a boom likely to last until early 2008, when a wave of new developments hits the market. DOWNTOWN RENTALS CRUISE The downtown apartment market is coasting at a lofty level, with rents and occupancy rates at their highest levels in at least five years. Effective rents, which factor in the value of concessions, are shown below. 3rd qtr. ’06 2nd qtr. ’06 3rd qtr. ’05 Class A Rent per sq. foot $2.21 $2.23 $2.14 Occupancy rate 96.5% 97.5% 95.5% Class B Rent per sq. foot $1.91 $1.91 $1.80 Occupancy rate 97.2% 96.9% 96.8% Source: chicagobusiness.com & Appraisal Research Counselors -- The above is a couple excerpts from the original article. To read the complete article please visit chicagobusiness.com ...

Can Your Broker Sell? - The Internet Helps! 2006-11-26 10:47:00 I've been considering making a move to another local broker come the New Year and have been impressed with Joe Pinto's group, Chicago Home Estates. Geno Petro, who is a top producing agent for Chicago Home Estates, wrote the below piece that was published on Mr. Pintos blog. It's obvious that this group is doing their best to embrace Internet technology based on their top position in the Google PPC (Pay Per Click) program for such terms as "chicago real estate". Although that is impressive, it's expensive and I question the ROI. Pan down from the "chicago real estate" results on Google to #10, IllinoisRealEstate.com, natural organic results, NICE! Nonetheless seems that some of their goals may be a match with mine. Seems I might be a good fit on their team and we could learn a lot from each other. Although one member of their team I'm afraid feels I have been somewhat "overt" in my blog postings and has banned me from posting on his blog, whatever. Welcome to the Interne ... Internet

Real Estate Broker Uses the Science of Social Psychology to Help Sellers 2006-11-20 09:54:00 Source: NewswireToday - /newswire/ - Deerfield, IL, United States, 11/16/2006 http://www.newswiretoday.com/news/10755/ ----- The 2.1 bath, three bedroom house is listed in the MLS for $1. Is this a joke? Is this a mistake? $1 listing attracts the eye of not only potential buyers, but other real estate agents. 8:30 A.M. Evan Kane from Endeavor Realty listed a two story three bedroom home for sale in the MLS at a listing price of $1.00. It is not often that you see a house in the affluent Chicago suburb of Highland Park listed for sale at $1, but that is what Evan Kane the Broker/Owner of Endeavor Realty has done to help his clients sell their home in an increasingly tough real estate market. Most Real Estate Brokers do not think to use the science of social psychology to help sellers. The real estate market has become increasingly tough causing brokers and real estate agents to have to think of other ways to attract buyers. Endeavor Realty has come up with a different strategy to ...