Illinois $100,000-250,000, June 17th to August 16th, 2010.
Town: # Homes that Closed Past 2 Months --- Avg Sales Price --- Avg Days on Market
South Holland: 27 --- $151,940 --- 212
Lansing: 8 --- $153,862 --- 183
Calumet City: 8 --- $124,449 --- 182
Lynwood: 5 --- $161,800 --- 387
Crete: 13 --- $173,500 --- 356
Town, Indiana $100,000+ June 17th to August 16th, 2010
Munster: 32 --- $275,938 --- 157
Dyer: 21 --- $244,034 --- 105
Highland: 27 --- $168,643 --- 126
St John: 15 ---$249,431 ---175
Schererville: 44 --- $232,265 --- 159
If we did not list your Town, Let us know & we will send you a report.
Monday, August 16, 2010
Interesting Survey on Restaurants
Best Burger
1.Five Guys
2.In-N-Out Burger
3.Wendy’s
4.Burger King
5.McDonald's
Best French Fries
1.McDonald's
2.Five Guys
3.In-N-Out Burger
4.Wendy's
5.Burger King
Best Milkshakes
1.Dairy Queen
2.Cold Stone
3.Sonic Drive-In
4.Chick-fil-A
5.Ben & Jerry's
Fast-Food Chains
Best Fried Chicken: Kentucky Fried Chicken (KFC)
Best Grilled Chicken: Chick-fil-A
Best Fish: Long John Silver’s
Best Salads: Panera Bread Co.
Most Child-Friendly: McDonald’s
Full-Service Chains
Best Steak: Outback Steakhouse
Best Pasta: Maggiano’s
Best Breakfast: Cracker Barrel
Best Seafood: Bonefish Grill
Best Desserts: The Cheesecake Factory
Most Child-Friendly: Chuck E. Cheese’s
Full results can be found at zagat.com/fastfood.
1.Five Guys
2.In-N-Out Burger
3.Wendy’s
4.Burger King
5.McDonald's
Best French Fries
1.McDonald's
2.Five Guys
3.In-N-Out Burger
4.Wendy's
5.Burger King
Best Milkshakes
1.Dairy Queen
2.Cold Stone
3.Sonic Drive-In
4.Chick-fil-A
5.Ben & Jerry's
Fast-Food Chains
Best Fried Chicken: Kentucky Fried Chicken (KFC)
Best Grilled Chicken: Chick-fil-A
Best Fish: Long John Silver’s
Best Salads: Panera Bread Co.
Most Child-Friendly: McDonald’s
Full-Service Chains
Best Steak: Outback Steakhouse
Best Pasta: Maggiano’s
Best Breakfast: Cracker Barrel
Best Seafood: Bonefish Grill
Best Desserts: The Cheesecake Factory
Most Child-Friendly: Chuck E. Cheese’s
Full results can be found at zagat.com/fastfood.
Sunday, August 1, 2010
When the Coast is Clear
Jimmy Buffett and Friends performed a free concert at Gulf Shores, Alabama, recently. A huge crowd of 35,000 was on hand for the show right on the beach. The idea was to help local businesses and the community from the devastation of the oil spill. This is a classic song updated to fit the oil spill disaster. This is an excellent video. Thought you might like it.
Http://www.cmt.com/videos/misc/536045/when-the-coast-is-clear.jhtml
Http://www.cmt.com/videos/misc/536045/when-the-coast-is-clear.jhtml
Monday, July 26, 2010
Now Maybe the Best Time to Buy A Home
This may be the best buyer's market that we'll see in our lifetimes. There are lots of legitimate reasons why a person should be taking advantage of this market if they are able.
Obviously, if a person doesn't have the down payment or credit score, they won't be able to seize this opportunity. If a person is concerned about losing their job, that would be a valid reason for not buying now. If you are planning on relocating in the next year or two, maybe now isn't the time to buy. But here are some very good reasons if you have been considering buying a home:
Top Ten Reasons to Buy a Home NOW....
1. Interest rates incredibly low – the rates are hovering at near historic lows. Interest rates play a huge part in the cost of housing together with the price and shouldn't be overlooked. The average mortgage interest rates for the past four decades were: 1970's 8.9%; 1980's 12.7%; 1990's 8.1%; 2000's 6.3%. Most experts agree that they're going to rise this year.
2. Lower Prices - Recent price adjustments have made good values that haven’t been available in some situations for years. Current buyers are able to take advantage of the discounted prices.
3. Selection is good – In a seller's market, buyers sometimes have to accept a home that may not meet their needs completely because of short supply. Inventories in most markets and certain price ranges are higher which allow buyers better choices.
4. Negotiate financing concessions – FHA, VA, and Conventional allow the seller to contribute towards financing concessions for the buyer. The money can be used for buyer's closing costs, pre-paid items or interest rate buy down.
5. Costs for FHA loan going up – Currently, a seller can pay up to 6% of the sales price in financing concessions but the number will be reduced to 3% later this year; the date has not been announced yet. The annual MIP for FHA loans will also probably be going up this year which will increase the monthly payment. Buyers who get in now will pay the lower fees.
6. Interest and property tax deduction – the U.S. is one of the few countries in the world that allow an interest and property tax deduction for homeowner/taxpayers.
7. Source of funds with deductible interest - a homeowner can borrow up to $100,000 above their acquisition debt and deduct the interest regardless of what purpose the money is used. This is a great opportunity to consolidate debt at a lower interest rate and be able to make the interest deductible that otherwise may not have been.
8. Capital gain exclusion – the U.S. allows qualified homeowners to make a profit on their home without having to pay tax on the gain.
9. Borrowing against equity is non-taxable event – taking money out of the equity in your home does not require recognizing capital gains income.
10. The combination of reasons to buy a home may never be stronger than now.
Interest rates are going up; it is just a matter of when.
A basic rule of investing is to buy low and sell high.
There will be some buyers who take advantage of the current opportunities and will look back and remark how fortunate they were to act when they did.
There will be others who look back on these conditions and say "We should have bought then." Hindsight is always 20/20. Evaluating the present and acting takes equally clear vision.
The help of a trusted professional can make the difference.
Obviously, if a person doesn't have the down payment or credit score, they won't be able to seize this opportunity. If a person is concerned about losing their job, that would be a valid reason for not buying now. If you are planning on relocating in the next year or two, maybe now isn't the time to buy. But here are some very good reasons if you have been considering buying a home:
Top Ten Reasons to Buy a Home NOW....
1. Interest rates incredibly low – the rates are hovering at near historic lows. Interest rates play a huge part in the cost of housing together with the price and shouldn't be overlooked. The average mortgage interest rates for the past four decades were: 1970's 8.9%; 1980's 12.7%; 1990's 8.1%; 2000's 6.3%. Most experts agree that they're going to rise this year.
2. Lower Prices - Recent price adjustments have made good values that haven’t been available in some situations for years. Current buyers are able to take advantage of the discounted prices.
3. Selection is good – In a seller's market, buyers sometimes have to accept a home that may not meet their needs completely because of short supply. Inventories in most markets and certain price ranges are higher which allow buyers better choices.
4. Negotiate financing concessions – FHA, VA, and Conventional allow the seller to contribute towards financing concessions for the buyer. The money can be used for buyer's closing costs, pre-paid items or interest rate buy down.
5. Costs for FHA loan going up – Currently, a seller can pay up to 6% of the sales price in financing concessions but the number will be reduced to 3% later this year; the date has not been announced yet. The annual MIP for FHA loans will also probably be going up this year which will increase the monthly payment. Buyers who get in now will pay the lower fees.
6. Interest and property tax deduction – the U.S. is one of the few countries in the world that allow an interest and property tax deduction for homeowner/taxpayers.
7. Source of funds with deductible interest - a homeowner can borrow up to $100,000 above their acquisition debt and deduct the interest regardless of what purpose the money is used. This is a great opportunity to consolidate debt at a lower interest rate and be able to make the interest deductible that otherwise may not have been.
8. Capital gain exclusion – the U.S. allows qualified homeowners to make a profit on their home without having to pay tax on the gain.
9. Borrowing against equity is non-taxable event – taking money out of the equity in your home does not require recognizing capital gains income.
10. The combination of reasons to buy a home may never be stronger than now.
Interest rates are going up; it is just a matter of when.
A basic rule of investing is to buy low and sell high.
There will be some buyers who take advantage of the current opportunities and will look back and remark how fortunate they were to act when they did.
There will be others who look back on these conditions and say "We should have bought then." Hindsight is always 20/20. Evaluating the present and acting takes equally clear vision.
The help of a trusted professional can make the difference.
Wednesday, June 30, 2010
Vacation Home Checklist
Going on vacation is an exciting time and there can be all kinds of last minute problems and annoyances that can arise that can keep you from taking care of things that you should before you leave. Unfortunately, remembering those things that you should have done later on is not going to help, so here are some things to be sure to check off on your list before you leave on vacation:
1. Lock all doors and windows throughout the house.
2. Unplug most electronic items especially those that are expensive or may have valuable data on them. These can include your TV set, stereo, and especially computers. If a storm comes through while you are away, these items can be damaged beyond repair simply by being plugged into the wall outlet, so remove that possibility before you leave. Also, if you use a modem it would be good idea to unplug it as damage can also happen due to the phone connection used.
3. There is no need for your water heater to continue to operate at a high level since it will not be used throughout the time that you are gone, so turn it down to a low setting.
4. Call and cancel your paper and mail delivery while you are gone. You certainly don't want newspapers and mail piling up outside your home and sending a clear signal to burglars that your house is an easy target.
5. Leave a radio or something going in the house that makes sound and can be viewed as an indication that someone is home.
6. Disconnect the garage door so that it cannot be operated by remote control from the outside. Usually there is a lever that you can pull on the opener that can accomplish this easily.
7. Unplug your washing machine hoses. These can easily break and if they do while you are away for several days it could cause near catastrophic flood damage to your home before you would be able to do anything about it.
8. If you have pets make sure that they have an automatic feeder and plenty of food and water, if you choose not to board them in a kennel or leave them with someone else. Also be sure that the heating/AC system is set to keep things comfortable for them in the house while you are gone. If you do choose to leave your pets at home it's a good idea to arrange for someone to stop by daily and check on them and spend a little time with them too.
There are other reminders that would be good to have on your away list too, but these should be a good start to help keep you focused on necessary items to take care of before leaving on any family vacations.
1. Lock all doors and windows throughout the house.
2. Unplug most electronic items especially those that are expensive or may have valuable data on them. These can include your TV set, stereo, and especially computers. If a storm comes through while you are away, these items can be damaged beyond repair simply by being plugged into the wall outlet, so remove that possibility before you leave. Also, if you use a modem it would be good idea to unplug it as damage can also happen due to the phone connection used.
3. There is no need for your water heater to continue to operate at a high level since it will not be used throughout the time that you are gone, so turn it down to a low setting.
4. Call and cancel your paper and mail delivery while you are gone. You certainly don't want newspapers and mail piling up outside your home and sending a clear signal to burglars that your house is an easy target.
5. Leave a radio or something going in the house that makes sound and can be viewed as an indication that someone is home.
6. Disconnect the garage door so that it cannot be operated by remote control from the outside. Usually there is a lever that you can pull on the opener that can accomplish this easily.
7. Unplug your washing machine hoses. These can easily break and if they do while you are away for several days it could cause near catastrophic flood damage to your home before you would be able to do anything about it.
8. If you have pets make sure that they have an automatic feeder and plenty of food and water, if you choose not to board them in a kennel or leave them with someone else. Also be sure that the heating/AC system is set to keep things comfortable for them in the house while you are gone. If you do choose to leave your pets at home it's a good idea to arrange for someone to stop by daily and check on them and spend a little time with them too.
There are other reminders that would be good to have on your away list too, but these should be a good start to help keep you focused on necessary items to take care of before leaving on any family vacations.
Market Update
The Real estate market continues to be slow. Homes are selling, but at a very slow pace.
We (Cathy & Jim) have sold 31 Homes so far this year, which is at the top of the market average for Realtors. Our marketing plan is reaching the buyers that are looking, but there are few buyers actually purchasing homes.
Some good news is that Internet Views of homes, on Realtor.com, the #1 home search site in the country, are as high as ever, indicating that there are many interested buyers, but they are not making the move to purchase due to low consumer confidence... A sign that the economy is still in trouble. We send these Internet View reports to our clients on a regular basis.
New statistics show that 84% of the home buyers start their search on the Internet. Again showing the importance of Internet marketing with an enhanced webpage like we provide our clients.
The most critical factor for housing in 2010 is what happens to employment. People who have jobs are becoming much more risk-averse to buying a more expensive house; for one they worry will they keep their job and two, can they sell the existing home.”
As consumer confidence in the economy is restored, then it is likely that a more robust rebound in sales will occur; in the interim, a high percentage of the housing transactions will be from households relocating as a result of job changes and, with the continuing aging of the Illinois and U.S. populations, there will be housing sales as a result of retirements.
In the last hours for congress to get the Home Buyer Tax Credit deadline of June 30th to get extended to September 30th for closing, has hit several road blocks. This was an amendment attached to HR 4213 “American Jobs and Closing Tax Loopholes Act of 2010” or “The Unemployment extension bill”. This hit several political hurdles that stalled the bill and could not get enough votes to pass the Senate.
What has happened now is you have a couple of stand-alone bills, one for unemployment and for tax credit extension. The tax credit extension bill has passed the house on Tuesday, so we will need the Senate to pass with no changes then the president can sign it into law. Will this happen before the end of the day, it is very possible, BUT as of now for home buyers to get their tax credits they need to close by June 30th and had their sales contract written by April 30th.
We (Cathy & Jim) have sold 31 Homes so far this year, which is at the top of the market average for Realtors. Our marketing plan is reaching the buyers that are looking, but there are few buyers actually purchasing homes.
Some good news is that Internet Views of homes, on Realtor.com, the #1 home search site in the country, are as high as ever, indicating that there are many interested buyers, but they are not making the move to purchase due to low consumer confidence... A sign that the economy is still in trouble. We send these Internet View reports to our clients on a regular basis.
New statistics show that 84% of the home buyers start their search on the Internet. Again showing the importance of Internet marketing with an enhanced webpage like we provide our clients.
The most critical factor for housing in 2010 is what happens to employment. People who have jobs are becoming much more risk-averse to buying a more expensive house; for one they worry will they keep their job and two, can they sell the existing home.”
As consumer confidence in the economy is restored, then it is likely that a more robust rebound in sales will occur; in the interim, a high percentage of the housing transactions will be from households relocating as a result of job changes and, with the continuing aging of the Illinois and U.S. populations, there will be housing sales as a result of retirements.
In the last hours for congress to get the Home Buyer Tax Credit deadline of June 30th to get extended to September 30th for closing, has hit several road blocks. This was an amendment attached to HR 4213 “American Jobs and Closing Tax Loopholes Act of 2010” or “The Unemployment extension bill”. This hit several political hurdles that stalled the bill and could not get enough votes to pass the Senate.
What has happened now is you have a couple of stand-alone bills, one for unemployment and for tax credit extension. The tax credit extension bill has passed the house on Tuesday, so we will need the Senate to pass with no changes then the president can sign it into law. Will this happen before the end of the day, it is very possible, BUT as of now for home buyers to get their tax credits they need to close by June 30th and had their sales contract written by April 30th.
Wednesday, May 19, 2010
Where have All the Buyers Gone?
We are convinced that the first time homebuyer tax credit was a huge success. Business was up, home viewings by prospective buyers were way up.
Then came April 30th and the Home viewings dropped to record lows.
Our office charts the number of showings on our property listings.
Home viewings were up over 70% in 2010 compared to the same period in 2009.
The week after the tax credit ended, showings were down about 14% compared to the same period in 2009, and 2009 was an extremely slow year.
But, this is not a reason for home sellers to panic.
The only constant in real estate is change.
Eventually, the buyers desire to purchase a home will outweigh the thoughts of a tax credit and they will return.
And hopefully, soon, President Obama will announce whether the tax credit is coming back. This will make up the minds of the indecisive.
Real estate is not going to return to a sellers market anytime soon, but Homes will continue to be purchased, because mortgage interest rates are historically low and because home ownership is still the American Dream.
Then came April 30th and the Home viewings dropped to record lows.
Our office charts the number of showings on our property listings.
Home viewings were up over 70% in 2010 compared to the same period in 2009.
The week after the tax credit ended, showings were down about 14% compared to the same period in 2009, and 2009 was an extremely slow year.
But, this is not a reason for home sellers to panic.
The only constant in real estate is change.
Eventually, the buyers desire to purchase a home will outweigh the thoughts of a tax credit and they will return.
And hopefully, soon, President Obama will announce whether the tax credit is coming back. This will make up the minds of the indecisive.
Real estate is not going to return to a sellers market anytime soon, but Homes will continue to be purchased, because mortgage interest rates are historically low and because home ownership is still the American Dream.
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