Frankfort, IL Real Estate News

By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
A few days ago I got an internet request to tour some townhomes in the Village of Matteson, Illinois.  The Buyer selected several properties in the same subdivision.  All of the properties were priced under $100k, some priced above the minimum amount to procure financing, others were priced in the cash offer range. I immediately emailed the Buyer and asked their permission to qualify them, explaining they had selected properties in both the above categories, suggesting before we get together to tour any, I recommended a trusted Loan Officer to consult with them about all of their financing options. This Buyer emailed me back stating they would prefer to tour the properties first to determine if they liked them enough, then would research financing options.  This Buyer stated they did no...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
Frankfort Park District & "Wine Styles" are Hosting a Wine Tasting on November 16th, 2012            If you live in the Chicagoland region, you've already had the "pleasure" of experiencing a bit of what's surely coming .... winter weather!  Many of our recent  Chicagoland  nights have seen temperatures dipping down into the low 30's.   Brrrrr .....        If you're anything like me, these temperatures have sent you scurrying for some warmer clothes, blankets for the bed, and perhaps ... even had you starting-up the furnace a night or two.  Staying warm is definitely something creeping into our minds once again.        But after this last summer with its endless string of red-hot days, I'm finding this change of weather refreshing.  I'm ready for some cold weather activities and pursui...
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By Raymond Kennedy
(Keller Williams Preferred Realty)
Frankfort Square Home Sold - On Friday October 5th 2012 we successfully sold another Frankfort Square home. This 3 Bedroom Raised Ranch Frankfort Square Home For Sale sold for $189,000 even.  Frankfort Square is located South of 191st Street, West of Harlem, East of 88th Ave and North of Route 30 (Lincoln Highway). The main roads running through Frankfort Square road, 80th Ave and St. Francis Rd. Frankfort Square is unincorporated and located in Will County of Illinois. The school district for elementary and grade school is 161. The high school is Lincoln-Way North located right off of Harlem Ave. The area provides easy access to major transportation routes, close to shopping and stores. Since Jan. 1st 2012 There was just under 30 homes sold in Frankfort Square. Roughly 26% of these sol...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
“What do I have to do to get my offer accepted?   I keep making offers and never get one!”. In this fast paced environment, making the winning offer means being prepared beyond belief.   Writing the winning offer is more technical than in the recent past.  Naturally, having a pre-approval letter is still the number one item on the list of things to have.  There are many others too.  I would recommend this list be fulfilled before you submit another offer on any home for sale in the Chicago and South Suburban market. Realtor… A seasoned Chicago area Realtor like me is one asset in the home buying process.  It is very important to me you feel comfortable with me and fully understand how I work for you.  Take the time to talk to me about what you think you are really your relocation goals....
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
34 Tips to Prepare a Home For-Sale for Professional Photography! As you review the tips below please note some key words like De-Clutter, Remove, Clean, Clear, Hide, Replace, Open, and Light, are simple words giving a clue to what it takes to successfully sell a home.  According to a recent survey by the National Association of Realtors®, 89% of homebuyers who shop online notice photos first when looking for a home. Therefore, it is important to either having a critical eye looking through the camera lens to insure realistic, appealing photos, or hire a professional photographer to ensure your cherished home makes a good first impression. Your photos are going to be seen by any number of online consumers, so making your home stand out is my imperative goal, Ensuring I promote your sale ...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Upon viewing the virtual tour photos of a home in Homewood, Illinois, my Valued Buyers called me demanding to tour the home.  Upon physically touring the home my Valued Buyers looked at me and said, "are we in the same house?"  You can imagine what direction the conversation went after they gave me their immediate feedback. When the Listing Agent called me for feedback, I complimented him on how well he had cleaned up the home, scuffed up hardwood floors, and move the furniture around to make each room look more appealing in the photos.  Even the extensive pet hair on the family room couch did not show up in the photos. He told me he did participate in the professional photo-shoot of the home.  Although not my intention, I could tell he was somewhat insulted by my feedback. I explained ...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Top questions to ask when buying a condominium What are the condo association rules?  More importantly... My respected Remax colleague Bill Gassett shares very good condominium purchasing tips below.  Before we review his recommendations of questions to ask before purchasing, it is very important for First-Time Buyers to do their financing homework first before touring condominiums. Since most First-Time Buyers are more likely to procure FHA financing, they should first inquire if the Condominium Association has submitted their paperwork to HUD for approval to allow FHA financing. It frightens me to share the following information because it reads like a possible violation of fair housing laws.     Many Condominium Associations prefer to attract Buyers who procure conventional financing...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
To protect the investment in your home, your main line of defense is homeowners insurance. If you are a new homeowner, you’re likely in the market for insurance. If you are an existing homeowner, long-term coverage with one insurer may give you peace of mind, and you may also get customer loyalty discounts; however, it doesn’t hurt to look at your options. Doing some research may uncover a program that will save you substantial dollars, or at least identify coverage issues you may want to review with your current agent.The basics.  Most standard homeowners insurance policies will provide coverage for damage to your home (and many of the items in your home) caused by theft, fire, lightning, smoke and other suddenly occurring conditions. Homeowners insurance typically also provides covera...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Please help me to know if you are a Serious buyer when you contact me? Please help me to save us both time and energy by asking your-self these questions to know if you are really ready to purchase a home. 1. Are you currently working with a real estate Agent? - If you are and/or have given them your loyalty, please accept there is no need to call me.  All Agents in a specific market-place use the same multiple listing computer system to promote their listings.  Please remember your Agent has Access to the same information you are contacting me about.  Plus, it is so important for you and your Agent to bond as a harmonious team.  In return you will get their unconditionally loyalty in helping you to achieve your relocation goal. 2. When are you interested in purchasing?  Knowing this w...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Unrealistic Seller Pricing?  My respected colleague Scott Levitt of Oakley Sign company inspired me to share this question - Q: Often Sellers who will become buyers have inflated ideas about their home value, primarily because of "upgrades" they perceive to be high-value.  How do I reason with them? A: First, I make absolutely sure I'm willing to stand behind the price I've proposed.   When I know I've done thorough research about the immediate market place, I'm confident I'm recommending the appropriate price for the home to be priced right, I give this response: "I absolutely understand you want the maximum value for your home. My job is to do everything in my power to secure the best closing price possible. However, I have to be honest and tell you that I can only list a house with a...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSITY reports The Baby Boomers No Longer Dominate the New Home Market because of THE INCREASING PREVALENCE OF COST BURDENS. The recession took a toll on household incomes but did little to reduce housing outlays for many Americans. Between 2007 and 2010, the number of US households paying more than half of their incomes for housing rose by an astounding 2.3 million, bringing the total to 20.2 million .    While renters accounted for the vast majority of the increase, the number of severely cost-burdened owners also rose by more than 350,000 as many households locked into expensive mortgages were unable to refinance. Moreover, the recent jump in the number  of severely cost-burdened households comes on top of a 4.1 million surge in 2001–7...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Mortgage Payments Have Become More Affordable Relative to Rents as the JOINT CENTER FOR HOUSING STUDIES OF HARVARD UNIVERSITY reports it is difficult to argue that overbuilding is dragging down the housing market.   Instead, the excess housing supply largely reflects the sharp slowdown in average annual household growth in 2007–11 to just 568,000—less than half the pace in the first half of the 2000s or even the 1.15 million averaged in the late 1990     Two factors are responsible for this drop: a decline in the rate at which individuals (particularly those under age 35) form independent households, and a sharp drop in immigration. While  a variety of forces contributed to these trends, the severity of the economic recession clearly played a significant role. As 2012 began, the ingred...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
If you are either buying or selling a home in today’s market, you need a real estate expert like me. However, we must realize what the term ‘expert’ actually means. An expert in any area cannot give perfect advice as no one can predict the future. But they can give excellent advice based on their insight into their field.If you go to an attorney with a legal challenge, he/she will look over your case and give you your options. They realize they cannot guarantee the outcome of any of the options. Still, they give the best advice possible and allow you to decide the option with which you feel most comfortable. They then will put together a strategy which hopefully will bring about the most favorable conclusion.If you go to a doctor with a serious ailment, he/she will give you your options...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
With interest rates at near record lows, many consumers are looking to buy their first home or refinance their current mortgage. Home loans and mortgages are among the biggest financial decisions you'll make, and being prepared to choose the best options can help you save thousands over the life of your loan. Here are several tips to make your road to the perfect home mortgage a little less bumpy: 1) Create a housing budget. Knowing how much you're able to spend on your home puts you in a better position when shopping around for interest rates. In general, housing costs (including property taxes, utilities, maintenance and homeowners insurance) should not be more than 28 percent of your pretax income. If you can afford it, negotiate for a larger down payment or a shorter loan term to re...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
A respected Mortgage Professional Angela Davis-Watkins reminds us the number of homes on the market has dropped precipitously over the last 12 months. According to the Wall Street Journal's MarketWatch, "even hard-hit areas" that suffered foreclosures and housing gluts "have seen substantial decreases in for-sale inventory." The National Association of REALTORS® says that national inventory was down 20.4% in May as compared to numbers from a year earlier. It's true that inventories haven't dropped everywhere, but this looks like a trend that will continue to spread as foreclosures slow down and sellers see other homes selling for more and more money. Rising PricesWhich leads us to rising housing prices, also popping up in diverse markets across the nation. After seven straight months of...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
The relationship between supply and demand determines the price of a commodity. This relationship is thought to be the driving force in a free market.” In real estate, supply and demand is represented as the current month’s supply of homes for sale (the number of homes for sale divided by the number of homes sold in the previous month). MORE….. Most real estate professionals know, or at least have a good idea of, the month’s supply of inventory in their market. But why? Because of its effect on pricing moving forward. While there is no steadfast rule that will apply to pricing in every category of housing, here is a great guideline by which to go:     1-4 months’ supply creates a sellers’ market where there are not enough homes to satisfy buyer demand. Appreciation is guaranteed.    5-6...
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By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
    TEAL for TOES ... SALON  EVANIA  and  Edible  Arrangements/Frankfort efforts Benefit The Cancer Support Center during the Month of September                   All during the month of September,  TEAL for TOES   is taking place at  SALON  EVANIA,  located at  13 Old Frankfort Way  in Frankfort.      Paint your toes and/or nails TEAL  and make a small,  $5 Donation  and you will receive an empty box, good for a  FREE  6-count gourmet, chocolate-covered fruit assortment when you visit  Edible  Arrangements/Frankfort,  located at  590 Bankview Drive.        SALON  EVANIA  is offering 10% of their salon service proceeds on September 22nd ... and 10% of all proceeds from TEAL manicures and pedicures provided during the entire month of September to  The Cancer Support Center.        Edible...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Making sound investments in your home can improve the "bottom line" when the time comes to sell your home. The trick is, knowing what to improve. Making home improvements prior to listing it is a common practice. However, improvements should be selected carefully if the primary goal is to increase the profitability of your property. Return on Investment is a phrase that quantifies how much an investment returns compared to what you spent on the investment. For example, if a homeowner remodels a kitchen, and the home sells for a higher price (after covering the remodel costs), then they achieved a positive return on investment. If the property sells quicker because the new kitchen makes the property more attractive, additional benefits may be realized with the elimination of additional m...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Associated Press writers Jennifer C. Kerr, Seth Borenstein and Hope Yen, and Deputy Director of Polling Jennifer Agiesta contributed to this report form WASHINGTON (AP) today declaring — We're heavier in pounds and hotter by degrees than Americans of old. We're starting to snub our noses at distant suburbs after generations of burbs in our blood. Our roads and bridges are kind of a mess. There are many more poor, and that's almost sure to get worse. The oddly American obsession with picking up and moving on — "this spectacle of so many lucky men restless in the midst of abundance," as Alexis de Tocqueville noted nearly 200 years ago — has given way to the un-American activity of going nowhere. But check back tomorrow. Such swirling changes are not fodder for a State of the Union speech,...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
THE PROSPECTS FOR HOUSEHOLD GROWTH The joint center for housing studies at Harvard University reports Given that the number of new homes added in 2002–11 was lower than in any other ten-year period since the early 1970s, it is difficult to argue that overbuilding is dragging down the housing market. Instead, the excess housing supply largely reflects the sharp slowdown in average annual household growth in 2007–11 to just 568,000—less than half the pace in the first half of the 2000s or even the 1.15 million averaged in the late 1990s       are responsible for this drop: a decline in the rate at which individuals (particularly those under age 35) form independent households, and a sharp drop in immigration. While a variety of forces contributed to these trends, the severity of  the eco...
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