Most people refer to buying and selling houses as flipping houses. Flipping houses really means wholesaling houses, though most people think it refers to buying, fixing and selling houses. Wholesaling houses involves buying at a low price fixing them up then selling them at a premium for profit.
We will consider this meaning of flipping houses for our purposes.
Wholesaling houses is the quickest business model to generate profits in real estate investing. It also needs the least amount of cash invested in the deal. Occasionally you can wholesale houses without using your own cash.
So how do you flip houses?
1) Identify below market value houses
Motivated sellers form the best source of houses below market value. People with legal problems form the best source of cheap houses. These are people with legal issues such as liens on their properties, divorcing, have inherited property, bad tenants, and so on.
You target them by sending them letters or post cards. In my business, I send them 2 mail pieces a month apart. Each mail piece prominently sends them to my website URL as the main call to action. My phone number is less prominent. This way, they visit my real estate investing website instead of call me so my website pre-sells for me.
Chances are the houses I get are fully pre-screened and pre-negotiated so I need just a few minutes to tell whether it is a deal or not - then make an offer or move on.
Some people wholesale properties that have been foreclosed, but this is not the subject of this article.
2) Sign a contract to buy
Once you have identified a good deal whose figures look appealing, you must put it into contract. In each state, there are contracts regularly used by real estate agents, or you can get contracts that can be used all over the country. I prefer to use contracts mandated by our state real estate commission because they are more popular and most people, including title companies and sellers are more comfortable with them.
3) Begin title work.
The first thing I do is fax my contracts to my title company to begin title work. Title work identifies all liens on the house so they are cleared when you buy or sell. This is the work of the title company. As an investor, you do not need to get too concerned about the technicalities involved. I prefer to let professionals do their work.
4) Identify buyer with money
I prefer buyers with real cash in the bank. Cash transactions have few limitations and are more preferable. Most real estate investors buying houses have cash from a previous sale or line of credit.
Alternatively most have private money lenders or get cash from hard money lenders.
Avoid buyers looking for traditional loans. Most loan companies will not lend on houses that need rehab and you could have seasoning issues, meaning you must hold the property for 6 months to 1 year before you can sell it.
5) Sign a contract to sell
The amount of money in the deal determines the type of contract you sign. Make sure to leave enough cash in the deal for your real estate investor buyer. After all they have to do most of the work.
If my potential profit is less than $10,000, I prefer to do a contract assignment.
In contract assignment, you simply assign your contract to your real estate investor buyer. In this case you are assigning the contract, not assigning or selling the house. This is perfectly legal countrywide and you do not need a license for it. This contract is usually as little as 2 to 3 paragraphs.
In this case, the real estate investor buyer you wholesale the deal to closes the transaction, not you. You collect an assignment fee once the deal is closed.
If I am making more than $10,00 or my profits are near or the same as the real estate investor I sell to, then I prefer to do a simultaneous closing, also called double closing. This involves buying the house from my motivated seller, then selling it to my real estate investor buyer.
In a simultaneous closing, you buy and sell on the same table, therefore you do 2 transactions. In this case you own it when you buy, then sell it a few minutes later. Of course, you have to incur closing costs that you do not incur in contract assignment.
The contract for simultaneous closing is just like the one for buying, but with higher price and better terms for you.
In either case, ensure you collect an earnest money check before signing the contract. Always make sure they lose their earnest money if they do not buy the house. Make sure the contract expires before your contract to buy and the property reverts back to you.
6) Collect your profits
You must make ensure follow the transaction process until the deal is closed. You collect your check from the title company when the transaction is completed. It is therefore in your best interest to make sure you close any loose ends and make sure the deal does not fall between your fingers.
How must money do you need to flip houses?
When you sign your contract with the buyer, you may have to put up earnest money, usually between $100 to $500. There is no contract without earnest money. When I sign the contract to sell, I collect an earnest money check which is deposited with the title company.
In double closing, the first transaction can be closed with money from your investor buyer so you use none of your own money. If your buyer source of funds does not allow you to use his money to close the first transaction, then you might need to get transactional funding to a few points to close the first transaction before you can sell.
The checks you collect from wholesaling houses will ultimately be easy and fast. You can close a few such transactions a month.
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REO Listings: More Foreclosures, More REO Sales
REO Listings: More Foreclosures, More REO Sales
REO Listings: More Foreclosures, More REO Sales
The Newest Figures Mean Big News for REO Agents.
After a minor lull in the REO market at the end of 2009, the distressed homes market came roaring back in 2010, with short sales and REO properties accounting for over 29% of all home sales this past January. That�s the biggest month for REO sales since July of 2009 and came close to breaking the record 32% racked up in January 2009, according to real estate analysts at First American CoreLogic (whose figures were backed up by another report from Clear Capital).
The report lists these U.S. cities at the top of the REO sales charts, with the following distressed sales percentages:
� San Jose, CA (24.6 percent) � Houston, TX (40.5 percent) � Las Vegas, NV (49.1 percent) � Memphis, TN (43.3 percent) � St. Louis, MO (39.6 percent)
These are amazing numbers. And they indicate that it�s still an incredible time to become an REO agent and learn how to get REO listings � as there is certainly no shortage of bank-owned properties on the market.
More importantly, there won�t be in the future.
Because, according to CNBC reporter Diana Olick, the next huge wave of foreclosures is on the way (you can read her article at
http://www.cnbc.com/id/36195838" >http://www.cnbc.com/id/36195838. Despite all the loan modification programs and the Obama administration�s attempt to forestall foreclosures, sources predict a new monthly record for March.
The fact is that tens of thousands of loans are coming to foreclosure. And, because of the government simplifying the process, the actual foreclosures will happen twice as fast as in the past � so more REO properties will become available quicker. There are still about 5 million delinquent home loans out there that will be hitting the foreclosure stage soon.
The big banks are expecting foreclosures to really skyrocket near the end of 2010. One report states that Bank of America expects their current average monthly foreclosure rate increase by 600% in December, while JPMorgan Chase is officially predicting their portfolio of REO properties will be up by 50 to 100% at the end of the year.
A property becomes an REO listing after it forecloses and is repossessed by the bank. According to a March 15th article posted online at HousingWire, many in the real estate industry predict recovery can only come if there are enough trained REO agents available who know how to properly handle and sell these properties. These types of listings require knowledge of how to deal with REO sellers, who are generally large financial institutions, and how to process these unique transactions.
Those interested in making real money in the real estate industry should investigate how to become an REO agent and how to get REO listings. Agents with the expertise to do BPO�s (Broker Price Opinions) and handle REO homes will find there is a continuing thriving market with buyers lining up to get a bargain on a home.
------
Frank Patrick is the founder of ASREOS (the American Society of REO Specialists), the first professional association for REO Agents created by REO professionals and contains numerous resources and tools to maximize REO opportunities and find REO listings - as well as the ability to interface with other REO Agents across the country in an exclusive forum.
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Non-Conformity: Not a Plus When Buying a Home
Good tip from Mark McCaffrey of Reliable Radon Testing
1738 Washington Ave. Wilmette, IL 60093
847-363-9733 and email: mcc@ReliableRadonTesting.com
NON-CONFORMITY: NOT A PLUS WHEN BUYING A HOME
When buyers are considering pre-owned properties, they may be buying a home with an unpermitted addition or conversion. They may never be bothered by the unpermitted work. Conversely, the municipal building department where the home exists may one day decide the work was not done according to code. In a worst case scenario, the department can then order the removal of the work that was done.
What can a buyer do? The first step is to discover any unpermitted work done in the home. A homeowner may reveal the fact, or if an addition or garage has been recently added, the buyer can ask the question. Once a buyer has knowledge of the situation, a decision can be made regarding whether to proceed with the purchase or move on to another property.
Buyers need to realize that regardless of the Circumstances, municipal building departments always have full authority to enforce code compliance. And while that authority is not always exercised, it can be enforced at any time.
Why might a building department suddenIy decide to enforce code compliance and prosecute code violators? In some cases, a neighbor may notice that work was done without a permit, and complain to building authorities. In other cases, building departments may be faced with many homeowners ignoring code requirements, and decide tosweep the town of existing violations.
A buyer who suspects unpermitted work can visit the town's building inspector before proceeding with the transaction. The building inspector can explain code requirements as well as discuss the policy regarding work that has been done without a permit. Another option is for a seller to apply for an "as-built permit" for the remodeled or added portions of the property. The building department can then inspect changes that were made and decide whether to approve or disapprove them. They can ask for any code corrections that are necessary to bring the property into compliance. But it should be noted that the building department has the right to order the removal of any work done. And while that ruling can be hard for a seller to hear; it is better for all parties to find out before, and not after, a sale.
There are a few other things to consider when an offer on a home with unpermitted work. First, the building authority will generally charge a penaltyabove and beyond normal permitting fees for failing to follow the required permitting process when the work was originally performed. Additionally, ifa seller discloses unpermitted work and the buyer does not pursue approval through the building department, the buyer is liable for any accident or injury after the sale that occurs as a result of the work.
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Tips for Preparing Your Home for an Open House
Tips for Preparing Your Home for an Open House
Every seller wants her home to sell quickly and bring top dollar. While there are some factors you can not control, like neighborhood popularity and market fluctuations, you can help your house put on its best face for showings and open houses. If you want to sell your home, here are some tips to prepare your house and turn it into an irresistible home.
Before any physical preparations, you first need to prepare yourself emotionally. Begin to dissociate yourself, and decide to let go of your attachments to the home. From now on, this is a house you really want to sell, not your own beloved home.
It’s important that potential buyers can imagine calling your house home, too. Make it easier for them by de-personalizing the space. Remove personal photos and family heirlooms. Buyers should be allowed to connect with the space, and to imagine displaying their own photos and artifacts. You want buyers to think, I could see myself living here.
It is no surprise that you’ll want a tidy house for a showing, but what about those hidden areas of the home? Buyers need to look everywhere; they will open cupboards and peer into closets. So, make sure storage areas are organized, and that coats hang neatly in hall closets. Stack dishes and re-arrange kitchen drawers. Tidy other stored items, like books, games or CD’s. Bathrooms and kitchens should be especially clean, with counters clear of miscellaneous personal items and knick-knacks. Don’t forget the outside of the home. Give your house curb appeal by trimming the lawn, sweeping the front walk, and artfully arranging outdoor furniture.
Now is the time to take care of those bothersome little repairs you’ve been putting off for years. Buyers will notice the flaws that you have grown accustomed to. From replacing light bulbs, to cleaning scuff marks off walls, to replacing missing tiles in the bathroom, or fixing the broken screen door, take care to repair all the minor problems with the house before the open house.
While you may have long determined which aspects of your home you love, having a fresh set of eyes scrutinize its best features is a smart idea. If you want to sell your home, take the time to walk through it methodically with your real estate agent. Together you can point out which features of the home should be accentuated...and which elements should be downplayed. Does your home have a wonderful view? Draw attention to it by sprucing up window treatments and arranging furniture to draw the eye toward the windows. Is the kitchen small and cramped? Make the most of it by lighting the space well, clearing counters of debris and displaying a vase of fresh flowers.
If you want to take window coverings, built-in appliances or fixtures with you when you sell your home, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, he won't want it. Once you tell a buyer he can't have an item, he will covet it, and it could blow your deal. Pack those items and replace them, if necessary.
Finally, when it comes time for the open house, try to avoid being home. Not only does it make buyers uncomfortable, but it can interfere with your real estate agent’s sales process. Whether you head to the office or just out for a walk with the dog, you can rest assured that in your absence, your house will look enticing to its new owners!
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Five Topics to Discuss With Your Real Estate Agent When Selling Your Home
Five Topics to Discuss With Your Real Estate Agent When Selling Your Home
Thinking of selling your home? Before you place the For Sale sign in front of your house, there are a few things you should consider in order to maximize your home value and make the sales process smooth and efficient. Be prepared to discuss the following subjects with your real estate agent when you’re ready to sell your home and you will be one step ahead in the market.
1) Best Time of Year to Put Your House on the Market
Conventional wisdom dictates that spring is the best time for selling a home. The weather is getting warmer, the school year is coming to an end, and people who have just received their tax refunds may now have extra cash to use for a down payment on a home. However, since not everyone can sell a home in the spring, here are some other seasonal factors to consider. According to annual home sale data from the National Association of Realtors, the slowest selling months of the year are typically January and February, since fewer home sales occur during the holidays. In spite of this, with less competition in the marketplace, you may be able to ask for a higher price for your home, or a quicker closing.
2) Open House Strategy and How to De-Clutter
At an open house, first impressions count, so you will want to enhance your homes perceived value. Make your home inviting by taking care of bothersome minor repairs; clean bathroom and kitchen counters and clear them of dishes and clutter. Arrange storage areas neatly and put unused items in a closet. If you have pets, consider having a neighbor watch them for the duration of the open house. It is a good idea for you to be absent during the open house, also. If you must be present, let your agent do the talking.
Decorate your home to sell by arranging the furniture to look as spacious as possible. Add color and fragrance to any room with fresh flowers. Lastly, don’t forget the outside of your home. Put away all gardening equipment and neatly arrange outdoor items like firewood or furniture. Even take a hard look at your mailbox and make sure it reflects the value and character of your home.
3) Features to Accentuate
While you may have long determined which aspects of your home you love, having a fresh set of eyes assess its best features is a smart idea. If you are considering selling your home, take the time to walk through it methodically with your real estate agent. Together you can determine which features of the home should be accentuated. Does your home have a wonderful view? Make the most of it by sprucing up window treatments and arranging furniture to draw the eye toward the windows. Perhaps the location of your house is truly incredible. Your real estate agent can help accentuate this feature in sales and marketing materials.
4) Desired Price and Bottom Line Price
It is great to shoot high, but when determining your home value, it’s also important to identify your bottom line. By assessing recent home sale statistics in your area, your real estate agent can recommend an appropriate target price range. Working with your agent, you can set an initial asking price, as well as privately determine the absolute lowest price you would comfortably accept for selling your home. By crunching the numbers and setting parameters early on, you can avoid emotional rollercoasters during the process of receiving, countering and accepting offers.
5) Disclosures
When selling your home, you may be obligated to disclose problems that could affect the propertys value or desirability. In most states, it is illegal to fraudulently conceal major physical defects in your property, such as a basement that floods in heavy rains. And many states now require sellers to take a proactive role by making written disclosures on the condition of the property. Ask your real estate agent for the particular laws of your state.
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5 topics to discuss with your real estate agent when buying a condo
Five Topics to Discuss With Your
Real Estate Agent When Buying a Condo
If you are looking for home-buying information, you have come to the right place. One of the first questions in deciding to buy a home is house or condo? If you’re leaning toward a condo, read on. Here are five important topics to discuss with your real estate agent before beginning your home buying search:
1) What You Can’t Live Without
If your version of the American Dream doesn’t include mowing the lawn, a condo might be a great choice. If you can’t live without your own backyard, a big garage, or plenty of space between you and your neighbors, your needs may be better suited to a detached single-family residence. However, if the idea of a condo sounds right, talk to your real estate agent about other important aspects of your future home. For example, a gourmet cook might seek out a well-designed kitchen. Someone who works from home might need dedicated space for a home office. Additionally, there are decisions specific to condo living which you will need to think about. What types of association amenities are you looking for? These can include pools, covered parking, clubhouses, and 24-hour security. Do you have a pet? Some condo associations have restrictions regarding pet ownership or even such things as having outdoor barbecues. Be sure to include all aspects of your home buying requirements in the information you provide to your real estate agent.
2) Schools and Family Needs
The quality of school systems has long been important information for home-buying families. If you have children or are thinking about having children in your new condo, you’ll want to discuss school information and statistics with your real estate agent. Not only is it important to consider the location of your condo relative to area schools, but you’ll also want to think about the quality and diversity of local school offerings. Your real estate agent can provide both public and private school information for all the neighborhoods in which you’re considering buying a condo.
3) Commuting
For many condo-owners, commuting from home to work and back is a necessary evil. Some people feel that a long commute can detract from their quality of life and the time they get to spend at home. Commuting should be a critical factor in home selection, because in many communities, traffic backups are increasingly common. And today, this phenomenon applies to urban, suburban and even rural areas. If having little or no commute to work is important to you, convey this to your real estate agent.
4) Community Details
Whether you hope to buy a condo in a vibrant urban neighborhood or a charming rural town, the demographics, details and community statistics of a particular area are almost as important a consideration when buying a home as the details of the house itself. Even more significant in a condo-living situation is information about your condominium’s own community. Are most of the residents retirees? Recent college graduates? The community information and statistics of both your condominium and the town or city in which it is located are crucial factors in your home-buying decision.
5) Budget and Condo Fees
For some, the decision to purchase a condo is based primarily on the convenience a condo lifestyle offers. For most people however, the most rigid constraint of home-buying and the central reason for choosing a condo is the buyer’s budget. While condos are generally less expensive than houses, a buyer should be aware of additional costs, like HOA dues. Be sure to research the condo association’s dues and exactly what those dues include. It’s a good idea to check out a one-year utility history for the unit you’re interested in, as well.
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Hud Waives 90-day Flipping Rule
HUD Relaxes Rule for Home Flippers
With the passage of a new policy in February of this year, the U.S. Department of Housing and Urban Development (HUD) will now insure a home that has been owned by the seller for less than 90 days. This relaxation of the previous rule (the Federal Housing Administration formerly prohibited insuring a home owned by the seller less than 90 days) is aimed at providing investors new opportunities to put foreclosed homes back on the market. Investors or "flippers," can take possession of a home, make necessary repairs and put the property up for sale in less than 90 days. Hopeful investors are seeking to entice first-time buyers into purchasing some of the inventory of unsold homes.
Tightened credit markets have severely limited financing options for potential homebuyers, and FHA loans have become a primary means of financing for many buyers. But investors have been hesitant to purchase and hold homes for the 90-day waiting period, because of costs associated with carrying a loan, as well as the risk of vandalism with a vacant property.
The policy will be revisited by HUD after the twelve-month trial period. The move is an attempt by HUD to stabilize and possibly provide a mild lift to hard-hit real estate values. The administration is also hoping the policy will help revitalize neighborhoods and communities that have suffered high foreclosure rates.
Investors and buyers must meet a variety of conditions to qualify for a loan under the new policy,
1. The property cannot have a pattern of "flipping" in the previous twelve months.
2. All transactions must be "arms-length," In other words; there can be no identity of interest between the buyer and seller or other parties participating in the transaction. Identity of interest is defined as: a relationship between applicants, borrowers, management agents or suppliers including a family relationship through blood or marriage; a financial interest; or officers, stockholders or partners in the same venture.
3. If the sale of a "flipped" property is made in less than 90 days, and the sale price is twenty-percent or more above what the seller paid for tile property (which is the most likely scenario), the lender must document the renovations made and/or provide a second appraisal. The lender must also order a property inspection and give a copy to the buyer.
4. The waiver cannot be applied to reverse mortgages, nor does it apply to home equity conversion loans.
Other lenders are approaching the new regulations cautiously. Wells Fargo plans to participate in allowing financing for homes flipped within 90 days to qualified borrowers, but only if the purchase price is less than 20% more than what the seller paid for the property.
In the meantime, some real estate forecasters have estimated that
many more homes and condominiums could migrate from delinquency to
foreclosure or short sale in the next two years, if economic conditions do
not improve. It is hoped by HUD that easing the restrictions on flipping
homes may help reduce the number of foreclosed homes waiting to be resold.
More information about the specific conditions and details of HUD's new temporary
policy can be found on the HUD website.
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Where Are Mortgage Rates Heading?
Where Are Rates Heading
Two years ago, the Washington Post reported that home loan rates shot up to nearly 7% from 6% in less than a week. The volatility demonstrated that week resulted from turmoil in the financial markets and a lack of buyers for mortgage backed securities (MBS).
That volatility continued through November 2008 when the Federal Reserve announced a program designed to lower rates and provide stability to housing. That program has been incredibly successful, driving rates to the lowest levels of all time. However, as this program will end March 31st, people want to know: Where are rates going now?
Looking for Clarity
This month YOU Magazine turns to Barry Habib, Chairman of Mortgage Success Source, for his viewpoint. Mr. Habib has been very accurate in his assessments of both the financial markets and the direction of mortgage rates, providing education and market information to 30,000 home loan professionals across the country.
Mortgage rates are tied to the price of MBS and like other fixed income vehicles similar to U.S. treasuries, the higher the demand and price, the lower the corresponding rate or yield will be. Therein lies the issue. Throughout 2009, the Federal Reserve was the primary buyer for MBS, purchasing as much as 80% or more of all MBS issued in any given month.
The concern is that when the Fed concludes the program, who will step in to pick up the supply of mortgages for the rest of 2010 and beyond. If investor interest is scarce, look for rates to rise. Also, filling the hole with avid buyers is not the only potential headwind facing MBS and other fixed income investments.
Think About It this Way
Throughout the boom years of real estate, homeowners could just about set any price they wanted when the time came to sell their property. In many cases, simply putting a sign in the front yard would bring multiple offers, driving the price of the home up.
The Federal Reserve has acted in this capacity, supplying heated buying interest for the last fourteen months, in essence, setting the price of MBS and keeping interest rates low. When the Fed stops buying in April, the concern that exists isn't so much that there won't be buyers for home loans but what price those buyers will be willing to pay. The lower the price that new MBS buyers settle on, the higher the rates that consumers will have to pay.
Little Consensus Among Experts
Up until now, the predominant opinion of economists and financial pundits has been that interest rates will rise. The only disagreement has been to what degree and how quickly rates will do so.
On one extreme, David Greenlaw, chief fixed-income economist of Morgan Stanley, expects that rates could climb by more than two points before year end. On the other hand, CNBC has recently paraded people before the camera with the opinion that rates may remain closely unchanged.
Mr. Habib holds fast to his original assertion though that home loan rates are set to rise. "Interest rates for a 30 Year Fixed Rate could rise to 6% by year end and consumers need to be prepared for that." Habib goes on to state that MBS are similar to other fixed income investments that are subject to inflation risk. Inflation erodes the value of bonds and forces rates to rise.
Inflation risk exists not only from the possibility of an improving economy but also increased debt coming from the U.S. Treasury to support stimulus packages and the budget.
One More Thing to Consider
The purchasing of MBS by the Fed does not occur immediately after a loan closes. Several weeks must pass after the consumers close on their mortgages before they can actually be delivered, packaged and sold to investors like the Fed.
Because of this, many people anticipate that any potential move higher in rates may not occur until April 1st, after the conclusion of the Fed program.
Habib states that this is not the case for many reasons. Rates have already started to move higher over the past few months, and will likely increase a bit more after the Fed stops buying – not just because the largest buyer is absent, but because speculators will be less confident and unload their positions ahead of the deadline. This gradual increase combined with what we've already seen will be meaningful, and as the year progresses, rates will oscillate higher still. It's like walking up a long staircase...you don't realize how high up you are, until you turn around and look down.
What Now?
If you are a candidate for refinancing your mortgage, call your mortgage professional today to lock in your best opportunity for a low rate. In addition to the potential for rates to rise, there are also other programs in place...that are scheduled to end in June...to assist people who otherwise could not refinance due to loan to value.
For prospective home buyers, any increase in interest rates erodes your purchasing power. In other words, a 1% increase in rate represents an approximate decline in purchasing power by 10%. For example, if rates increase by 1%, people who qualify for a $200,000 purchase price today may only qualify for a purchase price of $180,000 afterwards.
For those who qualify for the tax credit for first-time and repeat home buyers, another deadline also exists. The last day to obtain a contract to qualify is April 30th and closing must occur by the end of June. Miss either deadline and it could cost you up to $6,500 or $8,000, depending on eligibility.
No matter which way you look at it, waiting could cost you. Mortgage rates are still near the best levels we have ever seen. If you are in the position to move forward with obtaining a mortgage, the best decision would be to act sooner rather than later.
Jason Brodsky
Sr. Residential Mortgage Banker
PHH Home Loans
Phone: (847) 681-4140
Fax: (847) 686-0220
Jason.Brodsky@PHHOnline.com
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10 Tips For A Clean Healthy Home
There's No Place Like (a Clean, Healthy) Home
10 Simple Tips You Can Implement Today!
Courtesy of Jason Brodsky of PHH Home Loans, 847-686-0220
After the cold winds of winter, it's nice to finally open the windows and freshen up the house with the scents of spring. And while opening those windows can feel good, one of the best feelings of spring is getting that clean feeling back. After all, some experts estimate that 40 pounds of dirt can pile up in your home over the course of just one year!
To help you start fresh this spring, this article offers you 10 simple ways to make your house clean and healthy.
Words to Live (and Clean) By
Tip #1: Clean regularly. It sounds simple, but it can be hard to implement and stick to when life gets in the way. There are a few things you can do to make it easier to stick to a regular cleaning schedule. The first tip is to actually design a schedule. Make a plan to tackle some of the biggest projects, like vacuuming or cleaning the bathroom–one each day of the week if necessary. You can also make sure the work is divided between all the members of the house; that way, the work doesn't fall onto one person's shoulders and children learn a sense of responsibility.
Tip #2: Eliminate clutter. One of the quickest ways to keep a clean house is to make sure it never gets too dirty or cluttered. To avoid it, make a point to quickly pick up high-traffic areas (like the kitchen, dining room, and family room) each night before heading to bed. You'd be amazed what a few minutes of straightening can accomplish. In addition, you can also keep a box ready for items that should be thrown away or donated. For more information on eliminating clutter and getting organized, check out our past article on strategies to get organized.
Make the Living Room More Livable
Tip #3: Dust down. Dusting can be a real pain…and can create a big mess with all that dust flying around. To help minimize the mess (and isn't that the goal in the first place?), remember to dust from top to bottom–starting with cobwebs near the ceiling and high shelves.
Tip #4: Buy plants. Plants can be pretty amazing. They help clean the air and constantly breathe oxygen into your home. In addition, they add a cozy, welcoming feeling to just about any room.
Kitchens and Bathrooms
Tip #5: Go chemical free. These days, more and more people are going chemical free for their cleaning products…and for good reason. As we reported last May in our article on toxic-free cleaning, the average household cleaner may include chemicals, fragrances, and dyes that can be irritating to your eyes, skin, and respiratory tract. If that wasn't bad enough, most conventional cleaning products are produced using a petroleum-based formula. That's right, petroleum. For more information on safe, natural cleaning products and for cleaning tips, visit www.simplyneutral.com.
Tip #6: Freshen towels. Wet towels can be a breading place for mold and mildew. Unfortunately, it's all too common to use the same towel again and again and again. To eliminate the potential problem, remember to change towels after just a few uses. You can also try to hang towels to dry near a heating element immediately after using them.
Windows to the World
Tip #7: Open often. We all like to seal up the house during the cold winter or humid summer days. But when the weather permits, don't forget to open up those windows and get the air moving again to clear out the stale air inside your home.
Tip #8: Clean screens. Most everyone hates doing windows–all those streaks can be a pain. Instead of putting it off, make sure you clean your windows at least every six months, inside and out. When you do, don't forget the screens. Dirt and allergens can really build up on the screens, which means they'll be blowing into your house every time you open your window.
Tip #9: Consider the curtains. Window screens aren't the only things capturing dirt and allergens. If you have heavy curtains that haven't been cleaned in a while, it's probably time for a good cleaning. While they're down, you may want to consider which rooms really need curtains. If you don't need them in a room for privacy or to break the harsh sun, you might consider eliminating the dirt trap altogether.
Final Thoughts
Tip #10: Get help. Let's face it–you're busy. Sometimes, the best step is admitting that you simply can't do it all by yourself. If that's the situation you face, it may be time to consider hiring a little help. The best news is that it doesn't have to cost you a lot of money. You can hire a house cleaner or even a local college student to clean every other week or even once a month. Better still, you can talk to the person about just doing the one or two cleaning jobs that take you the most time or are often overlooked. That way, you can keep the cost down, while keeping your house fresh and clean.
Remember, the best tip to follow is to do a little cleaning every day–even if it's something small. Whether you quickly straighten a room or replace the towels in the bathroom, a few minutes can go a long way to making sure your home is clean and healthy.
Jason Brodsky
Sr. Mortgage Loan Consultant
PHH Home Loans
Phone: (847) 681-4140
Jason.Brodsky@PHHOnline.com
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Lake County Ice Skating Rinks
Mar. 1, 2010
Ice Skating Rinks in Lake County Illinois Mapped! - Where to ice skate, play hockey and have some winter fun in the Lake IL County area! Map of Lake County Ice Skating Rinks ...
http://www.americantowns.com/il/lake-county/news/ice-skating-rinks-for-lake-county-illinois-maps-and-directions-242067
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Four Ways the 2009 Economic Stimulus Plan Benefits Home Owners & Buyers
Four Ways the 2009 Economic Stimulus Plan Benefits Home Owners and Buyers
There are four primary sections of the 2009 economic stimulus plan that could be very beneficial if you own or are buying a home.
Benefit #1 - Expansion of Home Improvement Tax Credit
The tax credit for making energy efficient home improvements is now 30% of the cost of the improvements up to a maximum of $1,500. This means that if the improvements cost you $4,500, you would receive a tax refund of $1,500 when you file your tax returns. Eligible improvements include energy efficient exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners and water heaters. Generally, your home improvement contractor and/or the manufacturer selling the improvements issues a certification that clarifies whether the improvements meet the necessary
standards for energy efficiency. Most modern windows, furnaces, and air conditioners meet these requirements. If you've been holding off on making some of these improvements, now is a great time to get a move on it -especially with all the great deals that are being offered!
Benefit #2 - Expansion of First-time Home Buyer Tax Credit
The tax credit available to first time home buyers was increased from $7,500 to $8,000 for homes purchased between January 1, 2009, and December 1, 2009. Also, the credit no longer needs to be paid back as long as you live in the home without selling it for at least 3 years. The previous version of the credit expired on July 1, 2009, and required home buyers to pay the funds back over a 15 year time frame. The income limitations remain the same ($75,000 for single tax payers claiming the full credit and $150,000 for married tax payers), as do most other qualification requirements. Also, the credit remains refundable. This means that first-time home buyers who owe less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file their tax returns. In that case, the IRS will write you a check for the difference between $8,000 and your actual tax bill. In fact, the credit can be claimed on your 2008 tax returns that you file by April 15, 2009, even if you buy the home in 2009. There is one catch, however: if you bought the home in 2008, the credit remains $7,500, and it still needs to be paid back over a 15 year timeframe beginning in 2011 when you file your 2010 returns.
Benefit #3 - Higher Reverse Mortgage Loan Limits
The loan limits for FHA-insured reverse mortgages have been increased to $625,500 across the entire country -not just the higher cost areas. The previous limit was $417,000 across the country. This is especially important because the FHA program is virtually the only game in town as private and jumbo reverse mortgage programs have nearly all evaporated. This coincides with another little-known change in the reverse mortgage arena: the availability of reverse mortgages on home purchase transactions. This is a fantastic opportunity for senior citizens to buy a new home and live mortgagepayment-free without having to wait for their old home to sell. Seniors could also use this strategy to buy a new home and turn the old home into a rental or otherwise wait for market conditions to improve before trying to sell the old home.
Benefit #4 - $729,750 FHA and Conforming Loan Limits Restored in High Cost Areas
The $729,750 maximum loan limit had been in force throughout 2008, but was reduced to $625,500 in 2009. The economic stimulus plan restores the $729,750 maximum. This makes higher cost homes more affordable - especially in the coastal housing markets that tend to have higher than average home values. It is always advisable to consult with a Certified Mortgage Planning Specialist TM (CMPS®) when navigating today's turbulent mortgage and real estate marketplace. Call me for names of mortgage brokers.
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Foreclosure Fraud Video
View this Freddy Mac video to get the low down on Foreclosure Scams.
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Judith Weiner's Home News - August 2010
If you’ve ever thought “I’m only one person,” here’s a poem that suggests “one” may be the most powerful number of all:
One song can spark a moment, one flower can wake the dream.
One tree can start a forest, one bird can herald Spring.
One smile begins a friendship, one handclasp lifts a soul.
One star can guide a ship at sea, one word can frame the goal.
One vote can change a nation, one sunbeam lights a room.
One candle wipes out darkness, one laugh will conquer gloom.
One step must start each journey, one word must start a prayer.
One hope will raise our spirits, one touch can show you care.
One voice can speak with wisdom, one heart can know what’s true.
One life can make a difference –
And who’s “the one”? It’s you!
Cheers to every one of us!
Pre-Interview Etiquette
It seems a shame that this even needs to be said, but here goes: If you’re interviewing for a job, be nice to the receptionist.
In other words, you should be minding your manners, and not just with those you perceive as having the power to hire you. It’s a common practice for managers to inquire about candidates’ behavior with everyone who meets them. Interviewers are looking for someone that they and other coworkers have to agree to spend at least eight hours a day, five days a week with.
If you’re rude or condescending to people you think are “beneath” you, word will get around. Here are some other waiting-for-an-interview guidelines:
· Introduce yourself to the receptionist. Be friendly in the same way you plan to be once you get into the real interview.
· Don’t ask the receptionist to make copies of anything for you. You should already have your copies. You should already be prepared. And you shouldn’t expect the receptionist to be your personal assistant.
· You can accept a beverage, if offered, but never request one. Don’t ask for a million accoutrements or your “half decaf, half regular, Sweet ‘n’ Low but real cream, and do you have cinnamon sprinkles?” either. Think simplicity.
· If you feel the need to make chitchat, be careful of what you say. Don’t offer opinions on things that could make you look bad – the décor of the office, the latest political news or the hottest Hollywood scandal, for example.
· Don’t talk on your cell phone while you’re waiting for your interview. You might only sound annoying or you might sound like a jerk, but regardless, you’re not focusing on the upcoming interview.
· Say a cordial goodbye.
How To Avoid Hydroplaning
If you’re driving in rainy summer weather or anytime there’s water on the road, be alert for the possibility of hydroplaning. The danger occurs when water builds up in front of your tires faster than your car’s weight can push it away. A thin water layer between your tires and the road can cause your vehicle to ride it much like a water skier skims over a lake’s surface. You can lose control, with your car sliding out of its lane or even off the road. The best way to prevent hydroplaning is to slow down on wet or slick roads, make sure your tires are properly inflated and have sufficient tread, and avoid puddles. Watch the road ahead for standing or running water, and give yourself enough time to slow down gradually rather than hitting the brakes.
Summer Pleasures
Rest is not idleness, and to lie sometimes on the grass on a summer day listening to the murmur of water, or watching the clouds float across the sky, is not a waste of time.
– John Lubbock
You Vs. Adversity
Positive thinking alone may not ensure success, but it’s an important start. If you don’t believe in yourself, you’ll have a hard time persevering against the obstacles and setbacks you’re likely to encounter.
How do you maintain the right attitude in the face of adversity?
Tell yourself you can change. Think of how you’ve changed throughout your life – not physically, but emotionally. You’re probably a different person today than you were five years ago, so don’t assume you can’t evolve further.
Use positive language. Banish words and phrases like “impossible” and “I can’t” from your vocabulary. Replace them with words that emphasize strength and success: “challenging” instead of “impossible,” and “I must” for “I can’t.”
Create the right environment. Listen to music that uplifts you. Watch inspirational movies and shows. You don’t have to devote yourself to a life of singing Tomorrow and watching Rocky, but don’t spend too much time on downbeat material. Mix it up, with a leaning toward the positive.
Appreciate your life. Focusing on what you don’t have can crowd out your appreciation for what you already possess. Take some time every so often to enjoy what you’ve already achieved with your life. Think about what you did to get where you are, and use that as reminder of your capabilities.
Let go of mistakes. You’re bound to fail at some things; don’t obsess over them. Learn what you can and move on instead of beating yourself up over and over for them.
What Do Roses Say?
If you’re a giver or receiver of roses, you might like to know that in the language of roses, each color symbolizes a different sentiment:
Red = love.
Dark pink = gratitude or appreciation.
Light pink = admiration or sympathy.
White = reverence, humility, or innocence.
Yellow = joy, gladness, and friendship.
Orange = enthusiasm or desire.
Keep Your Dog Safe
Dogs are members of our family, and here’s how to keep these four-legged friends happy and healthy:
Never leave your dog (or any animal) in the car during hot or even warm weather. The interior temperature of your car can easily soar to 120 degrees in just minutes. The only way your dog can cool down is through panting and through the pads of their feet. Many animals die every year because their owners leave them in cars. Even if you leave the windows partially down, the temperatures can rise to dangerously high levels.
Don’t let your dog ride in the bed of a pickup truck. Serious eye injuries can occur from debris hitting their eyes at 70 miles per hour. The dog could also be thrown into oncoming traffic or could fall underneath the truck and be injured. Serious injury or death can also occur when a driver hits the brakes suddenly, swerves, or is hit by another vehicle.
Keep your dog away from fertilizers, plant foods and insecticides; they can be fatal if your pet ingests them. Don’t let your pet walk or play on a treated lawn.
Make sure your pet always wears an ID tag. Even if your dog has an embedded identification chip, he should also have a tag so he can be returned quickly to you if he’s found. It’s also a good idea to keep a current picture of your pet with you. That way, if he disappears or wanders off, you have a photo to show to people when you ask them if they’ve seen your dog.
Give your dog prescribed heartworm medicine on a regular basis. It’s also a good practice to use only flea and tick medications prescribed by your dog’s veterinarian.
Make sure your pet has plenty of water and shade when he’s outdoors. And don’t let your dog walk on hot asphalt when the heat is high, because it can burn his paws.
Tricks To Stay On Track
If you’re thinking about starting a fitness program, here are some tricks to keep yourself on track:
· Get an audiobook that you think you’ll love. Only allow yourself to listen to it while you exercise. That way, if you want to find out what happens next, you’ll get moving.
· Watch your favorite TV show only while you’re exercising – otherwise it’s off limits.
· Keep track of your exercise days by putting a gold star on the calendar for every day you do your routine.
· Lay out your workout clothes before you go to bed. When you wake up and see them, you’ll be a lot more likely to get on that treadmill.
Mold Alert!
Mold can be a health hazard, especially for kids, according to a new report by the Federal Institute of Medicine. Mold can make asthma worse, and can cause wheezing, coughing and nasal congestion. Here are some suggestions to keep mold problems to a minimum:
Use the exhaust fan in your bathroom. Keep the moist air out and mold will have less of a chance to grow.
If you have a basement, you may need a dehumidifier if your basement is damp.
Repair any leak in your home immediately. If you do experience a leak, clean it up and dry the area as quickly as possible.
That musty smell means you have mold. Get rid of moldy carpets, furniture or rugs.
Use a bleach-and-water solution to scrub mold growth on walls, baseboards and other surfaces. You can also use a commercial mold remover. If the mold keeps coming back, hire a professional to come in and clean.
If you think your child is having health problems due to mold, consult a pediatrician right away.
Where Are Your Financial Records?
If your home was involved in a fire or natural disaster, would it be easy to reconstruct your financial records? It will be easier if you take a few minutes now to create a one-page sheet to help you through an emergency. Your one-pager should include:
1. Names and phone numbers of family members.
2. Names and phone numbers of your closest friends.
3. Names and phone numbers of your doctors.
4. Names and phone numbers of your professional advisers (lawyers, accountants, etc.).
5. Name of the person who handles employee benefits where you work.
6. All family members’ Social Security numbers.
7. All of your accounts and the names of the institutions where they’re kept (for example, XXXX bank, savings account; XXXX bank, checking account; XXXX company, 401k).
You’ll also want to include locations of the following so you can grab them as you evacuate:
Life insurance policies, homeowner’s insurance policy, marriage license, prenuptial agreement, birth certificates and/or adoption papers, the original copy of your will, and the forms that name your retirement account beneficiaries.
Make three copies of this sheet and keep one for yourself in a fireproof cabinet, give one to your lawyer or someone else you trust, and send one to someone you are close to and trust who lives in another town, who is unlikely to experience the same disaster you might, for instance.
Don’t Drink And Swim
Alcohol and water may mix, but not when you go swimming. Not only does alcohol impair judgment, balance, and coordination, it reduces the body’s ability to stay warm, according to the Red Cross. Experts estimate that alcohol is a factor in about 25 to 50 percent of adolescent and adult deaths from drowning or injuries occurring in the water. So when you’re in the water, stay dry.
It’s Folklorama Festival Time!
Save the dates: August 1 to 14 is the Canadian Folklorama Festival, one of the largest and longest-running festivals of its kind. This is the 40th year that Winnipeg, Manitoba, has hosted the event, which celebrates diversity and promotes cultural understanding. Pavilions representing nearly 50 countries are set up around the city showcasing their culture, food, music, dance and art, and almost half a million people attend. To join the fun, learn more at www.folklorama.ca.
The History Of The Hammock
If hanging out in a hammock is your idea of summertime fun, you might like to know that historians believe that the Mayan Indians of Central America invented hammocks 1,000 years ago. The earliest hammocks were woven from the bark of hamak trees, thus the name. Fishermen and sailors used the nets for both work and rest, and hammocks spread to South America and throughout the islands in the Atlantic. Christopher Columbus is said to have brought several hammocks from the Bahamas back to Europe, and in the 1800s, the British used hammocks in their prisons to save space. More than half a million are still sold annually in North America.
A Pain In The Backpack!
Did you know that a heavy or poorly adjusted backpack can cause back and neck pain? If you’re going to carry a backpack, you might want to follow these tips:
As a rule of thumb, your backpack should not weigh more than 10 percent of your body weight – and it should never exceed 15 percent. If your pack is too heavy you might start leaning forward or sideways, or arch your back. This can cause pain.
Use both shoulder straps. Flinging your pack over one shoulder puts all the weight on one side.
If you must carry more weight, buy a sports backpack with padding, belts, and lots of compartments to help support and distribute weight.
What’s In A Smile?
Smiling is a universal phenomenon, and here are some facts that may make you smile:
· Anthropologists postulate that smiling originated as a way to convey that there was no danger. Perhaps that carries into modern life; most people smile when meeting someone new.
· Primates smile to disarm aggressors and ease social interactions.
· A 15th-century treatise in Italy decreed that women should never display more than six upper teeth when smiling.
· An old law in Milan, Italy, required that citizens smile at all times when in public (except those attending funerals or visiting hospitals). Otherwise, they faced a fine of $100.
· Forensic archaeologists have suggested that the Mona Lisa’s celebrated smile was close-mouthed to hide gum-diseased black teeth.
· Babies as young as three weeks have been known to smile.
· Some dogs are smilers, particularly greyhounds. Dog handlers believe they do it to ingratiate themselves with those around them.
Quotes
If we all threw our problems in a pile and saw everyone else’s, we’d grab ours back.
– Unknown
Hard work spotlights the character of people: Some turn up their sleeves, some turn up their noses, and some don’t turn up at all.
– Sam Ewing
A vacation is having nothing to do and all day to do it.
– Robert Orben
What Is the Value of Time?
As you take the time to read this letter, here are some thoughts about the value of time:
To realize the value of one year: Ask the student who has failed a final exam.
To realize the value of one month: Ask the mother who has given birth to a premature baby.
To realize the value of one week: Ask the editor of a weekly newspaper.
To realize the value of one hour: Ask the sweethearts who are waiting to meet.
To realize the value of one minute: Ask the person who just missed the train, bus or plane.
To realize the value of one second: Ask the person who just missed being in a car crash.
To realize the value of one millisecond: Ask the person who won a gold medal in the Olympics.
We can make more money but we can’t make more time – so let’s spend it wisely!
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Rate Lock Duration
Rate Lock Duration
Lock durations can vary for mortgage financing, but most lenders lock in the interest rate for 60 days from the date the loan application is submitted. As long as the loan is closed within that lock-in period, the lender honors the agreed upon interest rate.
Some consumers are misled by advertising that quotes unrealistically low rates based on 15- or 30-day lock durations. This is called 'short-pricing.' The lender basically knows the borrower doesn't have time to meet their conditions and have all the necessary paperwork in order within that brief time period. As a result, the lender is not obligated to honor the low rate that was listed in their advertising.
For simple refinance transactions, a 45-day lock-in period is more realistic. For purchase transactions, which are typically much more complex, you're much safer going with a 60-day lock, even though the interest rate might be a little higher than the rate you see quoted on billboards and the Internet.
Borrowers should make sure they have a written rate lock agreement, and allow themselves a reasonable amount of time to close their loan. I prefer to lock in all my clients as soon as their application is filed, rather than gamble with predicting short-term interest rate movement. My team and I focus more on assisting clients with long-term goals and management of their mortgage debt to secure a strong financial future.
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The Truth About Appraisals
The Truth About Appraisals
Knowing the Guidelines Solves the Mystery
The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn't always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and Real Estate Agents, and that the guidelines to which they adhere are dictated by the Uniform Standards of Professional Appraisal Practice (USPAP) and Fannie Mae. In most states, the mortgage lenders must also disclose the purpose of the appraisal, as each transaction carries its own set of rules.
In essence, these important guidelines help appraisers put a fair market value on homes based on comparable sales in the same area, and the home must be bracketed in size and value.
For example, there is no set dollar figure associated with a great view, pool, spa, bathroom upgrades, etc. If a homeowner installs a custom pool that cost them $30,000, but the local marketplace supports the value of a pool at $15,000, then that item will be bracketed as [$15,000] on the appraisal.
Upgrades can usually be expressed at a higher percentage of their value in newer homes because the only way to obtain those upgrades was to put more money into the cost of building the home. On the other hand, the upgrading or remodeling of an older home is rarely reflected in full in the final appraisal. This is because typically 25-40% of the project involves demolition and the fixing of issues that aren't uncovered until the project has already begun, such as plumbing or wiring that may need updating.
Ultimately, the value of the upgrades must be supported by comparable examples within the same marketplace. These comparisons must be drawn from current market activity within the last six months. This is a safeguard to prevent appraisers from attaching too high a value to the home in question, and opening up the appraisal for review. This guideline further states that appraisers can only base their opinion on the value of homes that have actually closed escrow.
As a loan professional, I make a point to follow the appropriate guidelines at all times. This promotes a good relationship with the lender, and helps to create easier and much smoother closings for my borrowers.
Greg Schneider
V.P. Residential Lending
PHH Home Loans
Phone: (847)686-0158
Fax: (847)686-0158
gxschneider@cbburnet.com
http://www.GregSchneiderOnline.com
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Choosing a Fixed Rate Loan
| Choosing a Fixed Rate Loan |
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|
 Fixed rate loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed. If a borrower is planning on being in the same home for a long period of time, a 30-Year Fixed may be more attractive because it offers stability. The monthly payment will remain consistent over the life of the loan. If interest rates are at historic lows at the time the borrower is seeking to obtain financing, this is a good program to consider.
A 15-Year Fixed loan program offers the same stability, but the accelerated amortization schedule makes the monthly payment substantially higher. While the interest rate may be lower on this type of loan, the borrower must be willing to commit to a higher monthly payment. If the borrower wishes to retire in 15 years and be debt-free at that time, this loan program may be more suitable to the borrower's long-term needs.
It is also possible to make pre-payments on a 30-Year loan and reduce the life of the loan, as well as the overall interest payment, without committing to the higher monthly payment of a 15-Year program. As long as there is no pre-payment penalty associated with the 30-Year mortgage, pre-payment offers the borrower the latitude to make additional payments when it is affordable. If cash flow becomes difficult, this arrangement will not put the borrower in a compromising position.
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What Is a Prepayment Penalty?
What Is a Prepayment Penalty?
A prepayment penalty is a fee charged to borrowers that make full payment on their mortgage, or pay off a substantial portion (generally anything exceeding 20% of the total loan amount), ahead of schedule. This is a clause written into some contracts to protect the lender's book of business in exchange for providing a lower interest rate, or for providing financing to a high-risk borrower.
Prepayment penalties vary with different lenders, but generally apply to a one-, two-, three-, or five-year period of time. This fee can be expressed as either a specific number of months' interest or a percentage of the outstanding balance. A 'hard' prepayment penalty applies to either the refinance or the sale of a property. A contract written with a 'soft' prepayment penalty permits the borrower to sell their property without incurring a penalty, but does restrict refinancing for a set period of time. It is important for the consumer to know that a prepayment penalty is the borrower's choice and should never be considered a requirement!
Make sure you are working with a reputable loan professional who is aware of your long-term plans before consenting to sign off on an agreement that includes a prepayment penalty! Always ask for a written evaluation of your loan options.
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About Judith Weiner
About Judith Weiner
By Referral Only …is the heart of my business. I focus 100% of my time providing world-class service to my clients. As a result, my valued clients and friends refer their neighbors, business associates, family and others to me for my trusted advice on buying or selling homes. It is my desire to build a business based on strong, lasting relationships – starting with you!
I am a compassionate, caring and knowledgeable real estate consultant working in the Coldwell Banker office in Highland Park. Since 1987, I have consistently and systematically served the Northern Chicagoland Communities. My extraordinary team of detailed oriented office staff & over 100 sales associates work out of our attractive offices in downtown Highland Park on Sheridan Road. My car and home office enable me to ably serve the vast Chicagoland area.
Real Estate transactions often become a complicated maze of numbers and negotiations. Successfully maneuvering through these challenges requires a creative professional who can navigate the way in order to minimize stress and maximize success for home sellers and buyers.
I have been a member of the Chicagoland community all my life. My husband and I raised our three sons in the suburbs and have been residents of Highland Park since 1979. I have been a full-time residential real estate consultant covering the Chicago Suburban marketplace since becoming a real estate consultant in 1987 and have an in-depth knowledge of the North Shore, Northwest and Far North Suburban communities.
I pride myself in maintaining close contact with my clients and delivering World Class Service as well as paying close attention to the details to avoid problems and to ensure that their home sale or purchase experience is a very positive one. I have earned a reputation for leading clients through the entire experience of buying or selling in a caring and professional way. All of my personal and professional goals have been oriented around the care of other people. My people skills and exceptional business management skills enable me to put people at ease and help them find not just a home, but the right home. By listening hard to my clients needs, including the unspoken, I help provide the alternatives that fit their criteria.
My unique, creative and active rather than passive marketing programs effectively sell homes for the best price in the most realistic time. I have developed outstanding negotiation skills and when I put together a contract, you can be assured of a successful closing. I am committed to a long-term career in real estate as evidenced by my belief in placing a premium on continuing education so that you the buyer or seller can be the beneficiary of the latest information, skills and the technological advances. Above and beyond the sales person’s license required to sell real estate in Illinois, I earned my Broker’s license in 1998.
I have my CRS (Certified Residential Specialist) designation, awarded by the National Association of REALTORS® to experienced REALTORS® who complete advanced training in listing and selling. Only 5% of the REALTORS® in the country have earned the right to be called CRS® but they are involved in 25% of all real estate transactions.
I was awarded Graduate, REALTOR® Institute (GRI) symbol from the National Association of REALTORS® after attending a specific, intensive series of a minimum of 90 hours of classroom instruction. The GRI symbol is the mark of a real estate professional that has made the commitment to provide a high level of professional services to you by securing a strong educational foundation.
I was awarded the ABR® (Accredited Buyer Representation) designation that is given to real estate practitioners by the Real Estate Buyer's Agent Council, Inc. (REBAC) of the National Association of REALTORS®. The ABR® designation, the benchmark of excellence in buyer agency service, demonstrates to my clients that I have taken steps to continue my education in the field of buyer representation and have proven experience and training in order to deliver ethical and professional service to real estate buyers.
I have achieved the e-PRO certification awarded to REALTORS® who have taken and passed an extensive online course to help real estate professionals thrive in the competitive world of online real estate from the National Association of REALTORS®.
I have achieved Cendant Mobility Inventory and Marketing Specialist (CMIS & CMMS) certifications. The CMIS course covers tasks for safeguarding and selling a transferee’s vacant property after his/her move and how to meet client performance metrics. The CMMS course teaches how to best market the transferee’s old house, and to decrease administrative burdens, and also covers the Amended Sale Program and Broker Market Analysis. I have also achieved Cendant Mobility Buyer Specialist certification (CMBS). This CMBS course covers how to provide transferee buyers top-flight service.
Over the years I have received prestigious awards given to the top Coldwell Banker® real estate agents worldwide such as Coldwell Banker’s International President’s Circle, Coldwell Banker’s International President’s Elite and membership in Coldwell Banker’s prestigious International Diamond Society.
To provide excellence in service and support throughout the process of buying or selling, I have assembled a team of top professionals in lending, appraisal, title, inspection and relocation. I also have all the superior resources available that come with being a part of the Coldwell Banker network of real estate agents.
Whether your need is a first home, a growing family home, an investment property or a home for the retirement years, I know I will be an excellent guide and manager for each transaction. I look forward to the opportunity to be of service.
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The ABC's of Radon in Illinois
The ABC’s of Radon in Illinois
Test Your Home Today
Test your home for radon today. Radon, an indoor air pollutant, is a colorless, odorless radioactive gas. Radon comes from naturally occurring uranium in the soil. The only way to tell how much radon you have in your house is to TEST.
BE AWARE
The USEPA estimates that approximately 13% of lung cancer deaths are radon related. The remaining 87% of lung cancer deaths are related to smoking. The USEPA has also concluded that smokers are at higher risk from radon. The USEPA recommends that indoor radon levels be below 4 picocuries per liter of air.
Do You Know Where Radon Comes From?
Most radon enters a home because of air pressure and temperature differences between the home and the outside air. When air is vented from buildings by natural or powered ventilation, radon and other soil gases are drawn in from the surrounding soil through openings between the house and the soil.
Elevated radon levels have been found throughout Illinois which is made up of 3 zones. Lake and Cook Counties are in zone 2 where Moderate to High levels of Radon can be found. People residing in zone 2 and zone 3 may tend to dismiss radon as a health risk. But, elevated radon levels (4.0 pCi/L or more) occur in these areas just as they do in zone 1. Don’t be fooled. Test for radon. The only way your family can know whether you have an elevated radon level is to test for it.
Where Do You Obtain Kits?
• Kits may be available at your county health department, local extension office, hardware store, or home improvement store. • Call the Illinois Emergency Management Agency (IEMA)-Division of Nuclear Safety Radon Program at 1-800-325-1245 for a list of laboratories that sell radon kits, or visit our website at www.state.il.us/iema. • IEMA also has a list of measurement professionals who can test for you. For consumer protection, the Radon Industry Licensing Act (RILA) requires measurement professionals who test for radon and mitigation professionals who reduce radon in structures to be licensed by IEMA.
If your home has elevated radon, IEMA has a list of licensed radon reduction contractors (mitigators) who can fix your radon problem. IEMA recommends hiring a licensed mitigator because they have the proper equipment, specialized training and technical skills needed. Using a professional can offer peace of mind. Don’t let radon be a problem in your house.
Where Do You Get Information About Radon?
Courtesy of: The Illinois Emergency Management Agency-Division of Nuclear Safety Radon Program, 1035 Outer Park Drive, Springfield, Illinois 62704, Radon Information Line:1-800-325-1245 and at www.state.il.us/iema
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