07/11/2008

How Is The Economy Doing? It Depends Who You Ask.   "Economic uncertainty" is turning into a 2008 buzzword and there's a lot of good reasons why. On the one hand, there are precursors to inflation in the economy: Rising oil costs Rising food prices Higher Cost of Living On the other hand, there are precursors to recession in the economy, too: Mounting job losses Less access to credit and/or loans Falling consumer confidence data The pie chart at right illustrates just how uncertain the "experts" are about the state of the U.S. economy.  They're evenly split, right down the middle. This isn't good news or bad news for Americans, per se, but it does legitimize the idea that the economy's future direction is in doubt.  This is one of the biggest reasons why there's been no clear direction ... 07/11/2008

Jason Engle | @ Properties | jengle@atproperties.com | 312.953.9657 3258 N. Racine Unit 1, Chicago, IL Southport Corridor 2 Bed 2 Bath: New Construction 30 Day Delivery 2BR/2BA Condo offered at $349,900 Year Built 2008 Sq Footage Unspecified Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking Unspecified Lot Size Unspecified HOA/Maint $150 per month DESCRIPTION Step out of your front door and within minutes you are at either the beautiful shops and restaurants of the Southport Corridor, the friendly condfines of Wrigley Field, the new CTA "L" station, historic Clark & Belmont, & more. 3258 Racine is a corner property with a tremendous amount of North, South, East, and West light. Converted from a classic turn of the century piece of architecture, 3258 N. Racine offers 2 large 2 bed... 07/11/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3c.  Here is more of a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end):   Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats. 07/10/2008

I just received a call from a client who is having a hard time making his mortgage payments.  He is current on his mortgage, yet, financially it has been hard for him to keep up with everything.  What does he do and what should he consider? First instinct is to get the property on the market.  However, depending upon the neighborhood what's the real value of his property since the market is and continues to adjust?  Does this send him into a short sale?  Should he file for bankruptcy?  Could he refinance?  All good questions.  The refinancing has been pursued, structuring a workout or forbearance agreement are all off the list of possibilities.  The question arises, "Should I sell my home as a short sale?  I hear that saves my credit versus foreclosure."  The ANSWER:  A short sale is th... 07/09/2008

Question: I am in the middle of purchasing a 2 bed/2 bath condo here in the South Loop of Chicago, I won't be able to move over until next Feb - what rental should I expect to get in this area and how is the rental market? Answer: Depending upon the square footage and building amenities, rental rates range form a low of $1,700 to a high of $2,800 a month. Short term rentals appeal to corporate employees with a preference for furnished units and can command a higher rental price. Beware, however, of the provisions contained in the Condominium Declaration,Rules and By-laws of the building you are purchasing in! Many properties do not permit rentals and most do not permit leases less than for a 1 year period. Written by Fred Scovell of the Scovell+Sabatini Team 07/09/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3b.  Here is more of a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end):   Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats. 07/09/2008

COME BE AT PART OF HGTV'S SHOW "DESIGNED TO SELL" THIS SATURDAY, JULY 12TH FROM 12-5PMAT MY OPEN HOUSE IN BEVERLY!!THIS SATURDAY, THE SHOW WILL BE ON HAND TO FILM THE VERY FIRST OPEN HOUSE AFTER REMODELING MY CLIENTS HOUSE!!BE ON TV AND GIVE ME YOUR INPUT!COME AND BRING A FRIEND!IF YOU KNOW SOMEONE WHO IS THINKING OF PURCHASING A HOME--BRING THEM TOO! JOIN IN THIS GREAT OPPORTUNITY!LIGHT SNACKS AND BEVERAGES WILL BE PROVIDEDOwn a piece of TV history!HGTV update already gorgeous 2 story home.2BR, 1.5 BA with fireplace, formal living and dining room, hardwoodfloors and finished basement. Complete with newroof, storm doors, brand new Stainless Steel appliances and washerdryer to stay.Come join as "Designed to Sell" unveils its newest project this Sunday with filming crew on hand!Call Patri... 07/08/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3b.  Here's a the start of a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end):   Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats. 07/08/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3a.  We will also want to help you clarify and set a focus on property condition: [insert EFFECTIVE Property Searching 001]   We say "Little or No" work, but - trust us - few 2- to 4-flats in Chicago truly need NO work over the next several years. Here's a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end): Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats. 07/07/2008

    The Near South Side is a community area of Chicago in Cook County, Illinois, United States. It is located just south of the downtown central business district, the Loop, which is itself a community area. The Near South Side's boundaries (see map) are as follows: North-Roosevelt Road (1200 S); South-26th Street; West-Chicago River between Roosevelt and 18th Street, Clark Street between 18th Street and 22nd Street, Federal between 22nd and the Stevenson Expressway just south of 25th Street, and Clark Street again between the Stevenson and 26th Street; and East-Lake Michigan. The portion of the Near South Side located east of Lake Shore Drive contains some of the most well-known structures in Chicago: Soldier Field (the home of the National Football League Chicago Bears), the eastern h... 07/06/2008

  Douglas, located on the South Side of Chicago, Illinois is one of 77 well-defined Chicago community areas. The neighborhood is named for Stephen A. Douglas a famous Illinois politician whose estate included a tract of land given to the federal government. The Douglas tract later became the infamous Civil War Union prison camp, Camp Douglas, located in what is now the eastern portion of the Douglas neighborhood. As part of the Chicago 2016 Olympic bid, the Olympic Village is planned to be located on a 37 acre truck parking lot south of McCormick Place that is mostly in the Douglas community area and partly in the Near South Side.[1] The community area contains part of the famous neighborhood of Bronzeville, a very famous center of African-American culture in the city.   Top of Form Ac... 07/06/2008

     Grand Boulevard, located on the South Side of Chicago, Illinois, is one of the well-defined Chicago Community Areas. The boulevard from which the community area takes its name now bears the name of Martin Luther King, Jr. Drive. The area is bounded by 39th to the north, 51st Street to the south, Cottage Grove Avenue to the east, and the Chicago, Rock Island & Pacific Railroad tracks to the west. The Robert Taylor Homes were located mostly in Grand Boulevard. This is one of the two community areas that are part of the area known as Bronzeville, with the other being Douglas. This community area includes the Washington Park Court District neighborhood that was declared a Chicago Landmark on October 2, 1991.[1] The Harold Washington Cultural Center is one of its newer and more famous ... 07/06/2008

Kenwood, located on the South Side of Chicago, Illinois, is one of the 77 well-defined Chicago community areas. Kenwood contains some of the largest homes in the city. According to the City of Chicago historical signs found on streetlights throughout the neighborhood, Kenwood was once one of the most elite neighborhoods in all of Chicago. Famous murderers Leopold and Loeb lived in Kenwood, as did their victim Bobby Franks. It includes two Chicago Landmark districts (Kenwood District and North Kenwood District). The official community areas were defined in the early 20th century and the current meaning of the Hyde Park neighborhood includes the area between 47th Street and 51st Street ("E. Hyde Park Blvd.") as a part of Hyde Park,[1] although this area is officially the south half of the... 07/06/2008

Washington Park is a well-defined community area (and neighborhood) on the South Side of Chicago in Cook County, Illinois, USA. It includes the 372 acre (1.5 km²) park named Washington Park,[2] stretching east-west from Cottage Grove Avenue to the Dan Ryan Expressway, and north-south from 63rd Street to 51st. The park is the proposed site of the Olympic Stadium in Chicago's bid to host the 2016 Summer Olympics.[3]   Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 30 150   $150,000 - $199,999 38 165   $200,000 - $249,999 33 179   $250,000 - $299,999 18 173   $300,000 - $349,999 4 137   $350,000 - $399,999 1 168   $500,000 - $549,999 1 49   $550,000 - $599,999 1 303      Active Listings Summary # Units Avg. MT Median List Price Avg. List Price Max. List Pri... 07/06/2008

Hyde Park, located on the South Side of Chicago, in Cook County, Illinois, United States and seven miles (11 km) south of the Chicago Loop, is a Chicago neighborhood and one of 77 Chicago community areas. It is home to the University of Chicago, the Hyde Park Art Center, the Museum of Science and Industry, the Oriental Institute and The Renaissance Society. It is formerly the name of a Township that included numerous other neighborhoods that have all been annexed by the city of Chicago. Hyde Park was founded by Paul Cornell in the 1850s near the Illinois Central Railroad south of Chicago. In 1861, the Hyde Park Township was incorporated, extending from 39th to 63rd Streets. The southern border was later extended as far as South 138th Street and as far west as State Street. The township ... 07/06/2008

Woodlawn, located in the South Side of Chicago, Illinois, USA, is one of 77 well defined Chicago community areas. It is bounded by Lake Michigan to the east, 60th Street (beyond which are the University of Chicago and Hyde Park) to the north, Martin Luther King Drive to the west, and, mostly, 67th Street to the south. Both Hyde Park Career Academy and the all-boys Catholic Mount Carmel High School reside in this neighborhood, and much of its eastern portion is occupied by Jackson Park.      Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 62 155 $150,000 - $199,999 75 190 $200,000 - $249,999 55 184 $250,000 - $299,999 36 176 $300,000 - $349,999 17 189 $350,000 - $399,999 21 302 $400,000 - $449,999 3 169 $700,000 - $799,999 1 10    Active Listings Summary #... 07/06/2008

South Shore is one of 77 well-defined community areas in Chicago, IL. A predominately black neighborhood located along Chicago's southern lakefront; it has become more diverse in recent years. It is a relatively stable and gentrifying neighborhood that has been long neglected. The jewel of the neighborhood is the South Shore Cultural Center, previously The South Shore Country Club, which began as a lakefront retreat for the wealthiest of Chicago's movers and shakers. Area Market Survey CriteriaStatus: Active, Back on Market, New, Price Change, Re-activated   Property Type: Detached Single, Attached Single   Area: South Shore   Months Back: All Months      Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 201 144 $150,000 - $199,999 97 163 $200,000 - $249,99... 07/06/2008

Short Sale Chicago - Illinois Pre Foreclosure Listing Agent: www.ChicagoShortSalePro.com www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale Main website: www.sellwithme123.com Michael Sorensen - REMAX CITY REALTORS Serving Chicago and most suburbs TEL 773-987-8224 ..call me anytime! Free Short Sale Pre Foreclosure Listing Service for Property Sellers in Chicago & Suburbs, Illinois (we are paid by the Bank). by Michael Sorensen of RE/MAX CITY REALTORS Serving Chicago & most suburbs in Northern Illinois. (Michael Sorensen is one of the Top Producing Agents for the Number 1 REMAX Realty Office in Sales in Chicago Illinois in 2008) www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale TEL 773-987-8224 ..call me anytime! Michael Sorensen, Broker ASC, ABRRE/MAX CITY REALTORS5435 N. Harlem AveC... 07/05/2008

This is a true story.... The view was so important to him. He had searched and searched for a home in Nevada that, when looking out from his living room window, would provide him with the perfect view of the mountain range in the distant desert. Better yet, if it also captured those magical lights from the Vegas strip-that would indeed be perfection.And he found it! The home had a great expansive unobstructed view of purple mountains majesty and on those clear desert nights the 10,000 lights of the Luxor,Flamingo,Paris,Mirage,Frontier,Bellagio and their sister casinos danced in front of his living room.Three years later it happened-the unspeakable disaster that his realtor promised would never occur. He remembered with absolute clarity the words she spoke to him-"This home will provide... 07/05/2008