May 28, 2010

Discount Brokers: Do You Get What You Pay For?

Discount Brokers: Do You Get What You Pay For?

Discount Brokers:  Do you get what you pay for? The answer, as with many things in life is, it depends. It is very easy for an agent at a full-priced broker to use the phrase, “You get what you pay for,” when attempting to downplay the credibility of a brokerage that offers rebates to buyers […]

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May 24, 2010

When to Lock Part 1: Timing Your Decision

When to Lock Part 1: Timing Your Decision

The rate lock conundrum is the basis of angst for every borrower that I have ever had. After all, this is a choice that is going to have an effect on your finances for a considerable amount of time. On the one hand, there is desire to secure the best possible rate, which requires exposure […]

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May 14, 2010

Knowledge is Power

Knowledge is Power

The other day I was reading an interesting article regarding a high correlation between mathematical/financial education and default rates on mortgages. Basically, the data in the article showed that a greater portion of delinquencies and foreclosures carried today are associated with borrowers who lacked the sufficient knowledge to fully understand the basic terms of credit […]

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May 8, 2010

Typo Rocks the Market

Typo Rocks the Market

This week, I have to hide my schadenfreude for the equities market as it was a sweet week for rates and housing in general. Even with some good reports on the jobs front, bad news in Europe and a crazy fluke provided what amounted to jet fuel to the lending market with rates dropping to […]

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May 4, 2010

The Dangers of Interest Rate Myopia in Choosing a Lender

The Dangers of Interest Rate Myopia in Choosing a Lender

Let me begin by saying that interest rates are important to any real estate transaction. To say otherwise would be naïve. But too many times rate emerges as the primary or even the single driving factor in the decision of which lender to choose. This low cost approach can be a very perilous road when […]

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April 19, 2010

Short Sale and Foreclosure Multi-Offer Strategy

Short Sale and Foreclosure Multi-Offer Strategy

For the greater good of those who frequent The Chicago 77, I’ve decided to open my playbook and share what I have learned through the numerous short sale and foreclosure (SS/F) experiences that I’ve had. Hopefully there are others out there with lessons that they are willing to share as well. In the end, what […]

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April 13, 2010

Can Banks Cut Your Commission on a Short Sale?

Can Banks Cut Your Commission on a Short Sale?

Given that this is by many accounts “The Year of The Short Sale,” I plan to share my experiences with my peers and the public to shed some light on what Realtors go through when working with this type of transaction. As a listing agent I recently had a short sale accepted by the bank […]

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April 8, 2010

Are Short Sales the “Deal of the Century?”

Are Short Sales the “Deal of the Century?”

Many people interested in purchasing in today’s real estate market are looking to cash on the “Deal of the Century.” Who can blame them when the national media is stating the property values have declined by 10% from last year to this year and still declining? Not only that, there is a record number of […]

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March 29, 2010

Another Hurdle for Appraisers

Another Hurdle for Appraisers

Starting April 5th, 2010 the government is going to start the Home Affordalbe Foreclosure Alternative program, or HAFA for short. HAFA was created in 2009 with a goal of working with home owners to make their mortgage payments more affordable to avoid home foreclosures. Highlights of the Home Affordable Foreclosure Alternative Program Include: Not allowing […]

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March 22, 2010

Pricing A Listing With No Comps

Pricing A Listing With No Comps

I recently came across a client that I met through social networking. She told me about a property that she has that was on the market a few times over the past few years at $500k but never sold. I checked it out on the MLS and found that, in addition to a few basic […]

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March 15, 2010

A Chicago Public School Employee Grant!

A Chicago Public School Employee Grant!

If you are a Chicago Public School Employee and You?re ready to acquire a home of your own, luckily, there?s a first time home buyer program perfectly suited for Chicago Public School’s employees that provides enviable incentives and a desirable APR (Annual Percentage Rate). When you?ve got your eyes on the prize of home ownership, […]

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March 9, 2010

The Secret to Getting Your Home Sold

The Secret to Getting Your Home Sold

The single most important factor when selling a home is the list price. Before Nancy, my business partner, and I even talk about all the ways we can drive traffic to our listings, we talk about market value and where a home should be priced in relation to its competition. Why do we do that? […]

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March 4, 2010

Chicago Realtors: What Ever Happened To Earning Your Commission?

Chicago Realtors: What Ever Happened To Earning Your Commission?

As an active agent I am in the field every day meeting clients, submitting contracts, showing my listings or viewing other agent’s listings. To me real estate is not just a job or a career, it’s a lifestyle. I’m “at work” from the moment I wake up until the time I go to sleep. One […]

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