From the monthly archives:

February 2010

Case Study #1 – A Successful Short Sale Story

February 23, 2010

Peter & Mary, Chicago, IL
Peter & Mary purchased a beautiful newly constructed one bedroom condominium in the River North neighborhood of Chicago in 2006.  The bought directly from the developer, and paid a total of $290,000 for the unit including one deeded garage parking space and some upgrades.  When they purchased the home, they put 5% [...]

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Your Short Sale Agent MUST Know His Business!

February 18, 2010

I read an article just yesteraday that stated the average short sale success rate for most agents across the country is 23%.  Stated another way, real estate agents fail to execute the short sale transaction 77% of the time!  What’s the typical outcome of a failed short sale?  A FORECLOSURE!  Yes that’s correct – a foreclosure.   That [...]

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Homeownership & Tax Time!

February 12, 2010

Tax season is quickly approaching.  There are many benefits to homeownership, including some tax deductions you are allowed to take on your income tax returns.  In order to deduct expenses of owning a home, you must file Form 1040 and itemize your deductions on Schedule A.  Below are some general guidelines taken directly from the IRS [...]

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FOR SALE – 5048 N. Wolcott, #1N – $374,900

February 10, 2010

  
Great location close to Lincoln Square and Andersonville.  This home has an extra wide layout, providing a very open and bright space.  Large kitchen with lots of cabinets, a 10 foot island, granite countertops, and stainless appliances.  The master bathroom was just beautifully refinished and includes a whirlpool tub, separate shower, double vantity with granite [...]

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Forget the Mortgage?

February 9, 2010

I just read an article which many of you may have seen published by US News & World Report written by Luke Mullins.  The jist of the article was that many Americans today are re-prioritizing how they pay their debt.  Back in the day before the “Great Recession”, it was always mortgage first, and credit card debt second.  Today more [...]

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Foreclosure Alternatives

February 4, 2010

When facing foreclosure it is important to know that you have options.  Remember that when you are in foreclosure, or on the verge of foreclosure, you still own and control your property.  Take time to understand the options below, and make a educated decision on how best to proceed. 
In Illinois the foreclosure process from start to finish can take twelve to fifteen [...]

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The State of the Market…

February 3, 2010

I frequently get questions from clients about the state of the real estate market.  We are all well aware of the challenges that persisted in the residential real estate market through 2009, and most analysts have mixed feelings about what 2010 will bring.  I believe we will see a gradual increase in the total number [...]

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