Author Archives | Katie Anderson

About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

Paying Utility Customers to Pay for Non-Payers

Written by: - February 8, 2010

Comments Off on Paying Utility Customers to Pay for Non-Payers

8 February 2010 ? Utility customers will soon carry the weight of those that do not pay their bills. Last year a new state law was quietly passed allowing utility companies to pass along bad debt to those who do pay their bills. Until this year, gas and electric rates included a set amount reflecting […]

Continue reading...

Waiting for The Recovery? Don’t Forget the Compass Point

Written by: - February 4, 2010

Comments Off on Waiting for The Recovery? Don’t Forget the Compass Point

Waiting for The Recovery? Don’t Forget the Compass Point

While we all sit here in Chicago and wait for the economy to rebound, I often wonder, “What is the hold up?” There are many answers to that very simple question. Because I am an appraiser as well as a broker, I do get some different insight that others miss out on. I have been […]

Continue reading...

Fannie Mae Announces New 3.5% Buyer Incentive

Written by: - February 2, 2010

3 Comments

Fannie Mae Announces New 3.5% Buyer Incentive

Fannie Mae (FNM/NYSE) announced today that they are offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28th, 2010 and April 30, 2010. Buyers purchasing properties listed on their HomePath.com site, that are closed within this period may receive up to 3.5% of the final sales price […]

Continue reading...

Obama’s Loan Modification Program a Bust So Far – Less than 1% of Applicants Get Relief

Written by: - January 26, 2010

2 Comments

26 January 2010 ? Last year in February of 2009, President Obama signed the Home Affordable Modification Program or HAMP into law. HAMP was designed to help millions of people facing foreclosure by encouraging loan modifications among lenders. The Treasury Department was to spend $75 billion for these loan modifications. So far 760,000 mortgage holders […]

Continue reading...

Fifteen Banks Under Increased Scrutiny by HUD

Written by: - January 19, 2010

Comments Off on Fifteen Banks Under Increased Scrutiny by HUD

19 January 2010 ? On January 14th HUD‘s Inspector General Ken Donahue and Commissioner David Stevens issued fifteen subpoenas to banks that had too high of a default rate. FHA is taking this seriously by looking into how banks manage risk and fraud. More audits are yet to come. Banks under scrutiny include: – Sterling […]

Continue reading...

HUD Revises 4155 Manual – HVCC Regulations Challenged

Written by: - January 5, 2010

Comments Off on HUD Revises 4155 Manual – HVCC Regulations Challenged

5 January 2010 ? The Department of Housing and Urban Development has recently sent out revisions to the 4155 manual ? the bible for underwriters. HUD appears to be seeing the light on problems associated with the HVCC regulations and the impact HVCC has caused throughout the real estate industry. One revision in particular states […]

Continue reading...

Fannie and Freddie Receive a Blank Check; Fed Will End Mortgage Backed Securities in March 2010

Written by: - December 29, 2009

1 Comment

29 December 2009 ? On December 31, 2009 the US Treasury Department will stop purchasing mortgage backed securities. However, they will spend whatever it takes to keep Fannie Mae and Freddie Mac afloat. Fannie and Freddie have been given a blank check by the government. To date, American tax payer’s have spent over $111 billion […]

Continue reading...

Banks to Halt Foreclosures in December; Lump of Coal for January?

Written by: - December 22, 2009

1 Comment

22 December 2009 ? A few banks have decided to give out Christmas presents to those that are facing foreclosure. Citibank, Bank of America, Chase and even Fannie Mae and Freddie Mac have decided not to foreclose on homes for the month of December. This is just a small Christmas present, because clearly, they will […]

Continue reading...

Wrigley Sells Chewing Gum Factory on Southwest Side

Written by: - December 18, 2009

1 Comment

18 December 2009 Although Wrigley shipped out its last stick of Juicy Fruit gum from a plant at 3535 S. Ashland several years ago, it has now decided to put the factory site up for sale. The 30 acre, 1.3 million square foot plant is being marketed by CB Richard Ellis Group, Inc. for $19 […]

Continue reading...

Zillow Makes Serious Challenge to Realtor.com and MLS Online

Written by: - December 17, 2009

5 Comments

Zillow Makes Serious Challenge to Realtor.com and MLS Online

Zillow is trying to compete with the Big Boys – the Multiple Listing Service and Realtor.com. But does Zillow have the tools and the reputation to make inroads in this competitive online market?

Continue reading...

Fannie and Freddie Ask For More Bailout Money

Written by: - December 16, 2009

1 Comment

16 December 2009 ? Fannie Mae and Freddie Mac are poised to ask the government for more bailout money. They initially asked for $200 Billion, then later increased that amount to $400 Billion, and are now planning on asking for a grand total of $600 Billion. The interesting part is about the request. Fannie Mae […]

Continue reading...

Wrigley Field Rink Opens Next Week

Written by: - December 11, 2009

1 Comment

11 December 2009 ?The new owners of the Cubs and Wrigley Field will offer the public a new attraction this year. On December 15th, an ice skating rink will open in the parking lot adjacent to the field. Admission to “The Rink at Wrigley Field” will be $10 for adults and $6 for children. The […]

Continue reading...

HVCC Procedures and Misinformed Appraisers Delay Closings

Written by: - December 10, 2009

6 Comments

HVCC Procedures and Misinformed Appraisers Delay Closings

I have seen both a good side and a bad side to the Home Valuation Code of Conduct program and have been lobbying for change. Well, today I saw first hand the debacle HVCC has created in the Real Estate world.

Continue reading...