Prudential Rubloff on LXTV
By · CommentsFHA Program is Changing Oct. 4th
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The FHA Program is changing the mortgage insurance program on Oct. 4th.
For every new mortgage they insure they are raising the monthly insurance premiums. At the same time they are reducing their upfront costs to 1% of th loan from 2.25%.
Click here to read the full story
Pricing your home in a declining market
By · CommentsThis will be a very short post on the subject of pricing your Chicago property. The subject has been beaten to death but it is so important I feel the need to comment on what I see going on when new listings come on the market.
It is really important to know what real estate market we are in when you price your home. Even though you should always price it correctly, when in a declining market it becomes even more important.
In a declining market everyday that home sits and does not sell it is losing value. If your home is worth $299,000 today and you try and list it for $350,000 it is going to sit. Consumers and their agents know the values of real estate and are not going to waste their time on an overpriced listing, there are plenty of homes for sale at market value and even a little less and these will be the homes that they will look at and consider.
By the time you realize that you need to price it correctly, 6months – 1 year later, you may have lost 10% in value and now in order to sell you need to list it at $270,000, and after some negotiating sell it at $260,000 or less.
Try to remember that even though you may not get top dollar when you sell, you can make up the difference when you buy.
Overpriced listings expire everyday, so if your goal is to SELL your house make sure you hire a competent real estate agent that knows your market and price it correctly. In the end you will put more money in your pocket. Over price your home and you will just ride the market down.
Take a look at these recent price reductions…
Courtesy of Condoshark.com
5 Reasons Your Home Isn’t Selling
By · CommentsUsed Cardboard Boxes
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- Image via Wikipedia
UsedCardboardBoxes.com takes an innovative approach to providing low-cost, earth-friendly moving boxes. We “rescue” truckloads of quality used boxes from large companies that might otherwise recycle them or simply throw them away. We bring the boxes back to one of our regional distribution centers where they are inspected and sorted by size and shape. Boxes that meet our strict requirements for quality, shape and strength are pre-packed (along with convenient accessories) into our low-cost, earth-friendly “stacks” and “kits”. We then “resell” those boxes to customers all across the USA, via our website. We offer free shipping on any residential order and guarantee delivery in 1-2 business days. As we like to say, “you don’t have cut down a tree to make a used cardboard box!” more
Historically Low Interest Rates!
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Mortgage Market Memo
Monday, July 26, 2010
· Fannie Mae Mortgage backed securities are down 10 basis points on the day, leading towards stable interest rates for today and tomorrow.
· 15 year fixed interest rates are now as low as 4.000% with -0- points, while 20 and 30 year fixed interest rates are as low as 4.375% and 4.625% respectively.
· 5/1 and 7/1 ARM rates are still very attractive and are now as low as 3.625% with -0- points and 3.875% with -0- points respectively.
· Interest rates for Jumbo loan programs remain very attractive at 3.75% for a 5/1 ARM, 4.000% for a 7/1 ARM, and 5.125% for a 10/1 ARM, all with -0- points.
When a House is more than a home…The Fisher House
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Some of you may know that I have a son in the Army who is serving in Afghanistan right now. So the subject of the Fisher House is very important to me. Please read this and help if you can. And if you know of any family with a son/daughter/wife/husband who is currently serving in the Military, please direct them to The Blue Star Mothers website.
The Fisher House recognizes the special sacrifices of our men and women in the military and the hardships of families by meeting a humanitarian need beyond what is normally provided by the Departments of Defense and Veterans Affairs. Many times the financial burden on the families to be with their loved ones during an unexpected injury or illness is just to great and they would not able to be with them, if it were not for The Fisher Houses. Sometimes these soldiers can be in the hospital 2-3 months and if the family had to rely on staying in hotels and eating all their meals in restaurants it would be impossible. So the need they provide is a great one!
Because military personal and their families must travel far distances for specialized medical care, The Fisher House builds “Comfort Homes” on the grounds and within walking distance of the VA Medical Centers. Because these homes are offered free of charge it allows family members to be with their loved ones during this very stressful time. having their loved ones around them has been proven to help in their recovery…Each year The Fisher House provides housing to over 10,000 families.
Last March Illinois opened it’s 1st Fisher House on the grounds of th VA hospital in Hines, Il. Since March this home has housed over 250 families.
These homes are built entirely on donations and rely on donations to operate every month. One of the Star Sponsors of The Fisher House is Gary Sinise and his Lt. Dan Band. Each year at Catigny Park in Wheaton he holds a “Rockin for the Troops” Benefit Concert to help support The Fisher House. This year the concert is on July 17, 2010 at:
Cantigny Park, Wheaton, IL – 1S151 Winfield Road – Wheaton, IL
If you would like to purchase tickets for this concert please go to this website: Rockin For The Troops or click on the logo above.
Operation Support our Troops Illinois will also be there collecting much needed items for our soldiers:
1.Slim Jims/Beef Jerky
2.Foil packets of tuna or chicken
3.Travel size packages of wipes/Lens wipes for glasses , etc.
4.Foot powder
5.Hand sanitizer (16 oz or less)
The Brewster – A Chicago Landmark
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- Image via Wikipedia
In 1893 one of the most unique residential landmark buildings opened in Lincoln Park, The Brewster, formerly known as The Lincoln Park Palace. The architect was Enoch Hill & he used the principles of skeleton-frame construction. It is located at 2800 N. Pine Grove at the corner of Pine Grove & Diversey. The main entrance on Pine Grove was originally the ladies entrance, the men entered on Diversey. When you walk through the front door you really are taken back in time. While the facade retains its turn of the century beauty with rusticated stone & terra cotta, the open atrium inside is the real work of art. The building is nine stories of open space, interlaced with steel and glass block transparent catwalks, and capped off with a skylight. The building also has the original cage elevator that must be operated by the doorman. The beautiful stairways are all cast iron.
Charlie Chaplin lived in the penthouse suite during the heyday of Chicago filmaking at the Essanay Studios between 1915 and 1916. Several movies were filmed at The Brewster including Child’s Play and Running Scared.
Here is a great video showing the unique features of “The Brewster”
The Brewster from Chicago magazine on Vimeo.
If you are looking for a condo in Lincoln Park be sure to check out the Brewster, pets are allowed but they must be under 30 pds. Check out all available condos for sale or rent here.
If you are from out of town visiting Chicago you may just Google the top Chicago restaurants….the 5 below in this article most likely will not show up but they are ALL worth visiting.
5 Favorite Restaurants for Locals in Chicago/
