lake zurich...and beyond

With lower interest rates and plenty of homes to choose from, now may be the right time for you to purchase real estate. Today's lower interest rates may not be around when prices flatten out, so trying to time the market rarely works to your advantage. Another problem with trying to time the market is that it requires a rising market to know just where the bottom was...hindsight is always 20-20, isn't it?

In many cases, purchasing a home may be cheaper than renting. In my market area, it is difficult to find a decent rental unit for under $1,300/mth. That's $15,600/year that could have gone towards your own mortgage, instead of paying your landlord's mortgage for him. Your landlord loves you, by the way, because you're making him rich. You are literally buying his property instead of your own. Think about it.

Then there is the distressed (foreclosure) property market. While many of these properties have condition issues and other challenges, in many cases they are priced below market value and offer opportunity for those willing to put in a little sweat equity to make a profit. If you are considering purchasing a distressed property, I suggest you consult a real estate agent who specialized in the foreclosure market to assist you. It can be tricky to navigate.

All investments carry some level of risk, and purchasing real estate is certainly no exception. This is not the time to make decisions that have not been carefully analyzed. What is a good purchase for an investor may not be a good purchase for a typical homebuyer. This is why you should always work with a real estate agent who can guide you in the right direction and provide the information you need to make an educated decision based on your individual circumstances.

Many people wish to wait "until next year, when prices may be lower" which of course, is a risk in and of itself. Prices may be lower, or may be higher. How many times have you waited for that special sweater at your favorite store to be marked down, only to discover that it was snapped up by someone else before you had the chance to purchase it? It may be a simple analogy, but the principle is the same: sometimes you snooze, you lose. If that's okay with you, then go ahead and wait it out. Hopefully you won't want to kick yourself a year from now.

The truth is, none of the experts can accurately predict the real estate market any better than the experts can accurately predict the stock market or what gas prices will be a year from now. If you purchased real estate in 2006 or 2007, you most likely got a great home at a terrific price with a low interest rate. Provided you stay in your home for several years (something I always recommend), you will benefit when property values eventually rise again.

I actually purchased my own home when the market was so hot that homes were selling in just days and for full list price. My home is now worth about $100,000 more than it was when I purchased it. Had I purchased a few years earlier, my home may be worth $25,000 more than that. Had I purchased just two years ago, my home may be worth about what I paid for it. That's the nature of real estate. Values go up, values go down, and when you purchase and sell makes all the difference.

For the typical homeowner, purchasing real estate should be a long term investment as well as a good little tax deduction, a place to live and make memories that will last a lifetime. Would I be comfortable selling my home in today's market and purchasing a new home? You bet your booties. In fact, I wish I could do just that, because I feel this market offers tremendous opportunities. The problem is, it's not the right time for me to do so because my youngest son has three more years of high school. If the market values are higher in three years, I will make more money on the sale of my home. Of course, I will also be paying more money for my new home. Therefore, I will not have gained anything by waiting and may actually lose money because of the higher purchase price on my new home and potentially higher interest rates. But that's life, folks. Sometimes you need to make decisions based on what is right for you and your family instead of making decisions based solely on the financials.

So will 2008 be the year you wish you'd bought real estate?

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Lavender has been used for centuries as an aromatherapy treatment since it has a calming, stress-reducing effect when inhaled. As you know, many offers today are coming in very low. Some are insultingly low. As a real estate agent representing the seller, it is very difficult to present an offer to a seller that is lower than what they paid for the house and to keep them calm and relaxed enough to consider the offer and make a counteroffer. When representing the buyer, it's hard to write an offer that you know will insult the seller and quite possibly the agent. What to do?

THE SOLUTION: LAVENDER SCENTED PAPER FOR OFFERS

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This product is guaranteed to improve your business. If not completely satisfied, simply return unused paper for a full refund. The bottle of aspirin, chocolate and tequila are yours to keep! Act now and you will also get as a special bonus gift, a small lavender sachet...useful for taking along on house hunting trips, to the home inspection, or anytime stressful situations may arise! Just hold up to your nose and inhale deeply!

Call today for more information!

*tongue firmly in cheek, not a real product, obviously! ;)

I've been published in Metro Chicago Real Estate Magazine!

Read my article, Tech Watch: Why I Blog For Business here.

This is really exciting for me. Who would've thought a year ago when I started blogging that it would have had such an impact on my life? And yet it has had an impact, both personally and professionally. Not only have I had the opportunity to learn from some of the smartest and most successful people in the industry (fellow bloggers), but I've also been able to teach others. Oh yeah, my business has increased as well!

Thank you ActiveRain!

Thank you MCRE!

And thank you to my clients, friends and associates, for your continued support and encouragement!

Well, it doesn't look much like Easter, or Spring for that matter, because it is snowing like crazy outside right now!

It actually reminds me of an Easter when I was a child. We had driven from Michigan to Ohio to spend the Easter holiday with my Grandparents and other family members. That year, Easter came with a huge snow storm...so much for those cute little Easter dresses, lol...and we got snowed in. As a child, we didn't mind, because we got a few extra days to spend with our cousins in Grandma & Grandpa's big old house. But I remember all the adults complaining much the way I'm looking out the window and complaining about the snow we are experiencing today!

Regardless of the weather, here's hoping you have a safe and wonderful Easter Holiday!

Glitterfy.com - Glitter Graphics

A few short months ago... 

Who would've thought that my usually "neat as a pin" house would be littered with chew toys, a puffy pink bed, baby gate, and puppy treats (and that I wouldn't care)?

Who would've thought that I would look forward to waking up at 6:00 a.m. to puppy kisses & snuggles?

Who would've thought that when my husband comes home and says, "Where's my girl?" that he would not be talking about me?

Who would've thought that I would put so much time and effort into finding just the right puppy food and treats?

Well, Zoey has taken over our hearts and our lives. And she has a new favorite store! Page's Healthy Paws (formerly Thomas' Tails Page Two) in Lake Zurich is located at 249 N. Rand Road, Lake Zurich, IL. They specialize in natural pet products, including natural food choices, treats, supplements, toys and accessories.

From the beginning, I wanted to make sure that "Princess" Zoey would have high quality food and treats. I did a lot of research and decided to feed her Blue Buffalo puppy food, which is pretty much one of the highest quality foods you can get at the big stores, like PETCO and PETSMART. Zoey likes Blue Buffalo, with the exception of the little lifesource bits, which she would roll around in her mouth and then spit out. It seems like such a waste, so I decided I would research some other brands and also search out some small-sized puppy treats. Since Zoey is only 3.9 pounds right now, most of the puppy treats are simply too large for her. A bit of research led me to Zuke's Mini Naturals...which is carried by Healthy Paws. Zoey just loves them and they are just the right size for her. She's already learned sit, down, paw (shake) and is learning how to ring the Poochie Bells to go outside (BTW, Healthy Paws carries Poochie Bells, too!).

Healthy Paws took their time to explain to me the difference in dog foods and why it is so important to feed high quality food. Aside from the obvious overall health benefits, high quality, natural dog foods also have less fillers (grains) and are less likely to cause allergies. They gave me several samples of Fromm, Timberwolf Organics, and Evo foods. Zoey is having fun sampling these foods and thinks they are yummy!

If you have a pet and live in the Lake Zurich area, make sure to visit Page's Healthy Paws! They are a family owned store that really cares about your pets!

From the Seller's standpoint:

"The inspector is hired to find things that are wrong. The buyer is getting a great price. Why do I have to make these repairs?"

From the Buyer's standpoint:

"It's a buyer's market. I'm in the driver's seat and I know it. I want what I want and will push for it."

As you can imagine, this can result in another round of negotiations and a stand off between buyer and seller or even a complete derailing of the entire transaction. As an agent, it is my job to help negotiate a win-win situation, where both buyer and seller can feel comfortable about the transaction and moving forward to closing. This can be very tricky, because it is important that the buyer and seller understand the home inspection provision (what it is meant to cover) while making sure the party you are representing knows that you are supporting their decisions. 

Here is an excerpt from the Multi-Board Residential Real Estate Contract 4.0 that is used in my area:

I've outlined in red the section that usually section that both buyers and sellers need to be aware of. As you can see, the inspection is meant to cover only the major components of the property...not the smaller routine maintenance items. Yet, time and time again, buyers will request that the seller make repairs or to replace items that are (or should) be outside of the scope of the inspection. Of course, who am I to say what is or should be important to a buyer? And if a seller gets upset when smaller items are raised as issues, who am I to say that they should not feel that way?

Usually, the seller will agree to make necessary repairs or will give the buyer a credit to cover these items. But the seller is not under any obligation to make any repairs or provide any credits for items raised as a result of the home inspection. Of course, the buyer can choose to walk away from the property if the inspection raises issues that make the buyer uncomfortable moving forward or if they don't get what they want.

Therefore, the home inspection and resulting repair negotiations can be very stressful to both buyer and seller (and agent, LOL!). Usually, I remind the party I am representing of their rights and obligations, encourage them to discuss the issues with their attorney, offer to help them obtain estimates, and encourage them to work very hard to obtain a compromise that both parties can live with. Neither party should feel "ripped off" or "taken advantage of" but that is sometimes unavoidable.

My best advice? Put yourself in the other person's shoes and do unto others as you would have them do to you. When that is your guiding principle, you can't go wrong.

On Wednesday, March 12 and again on Friday, March 14, I will be teaching a seminar on blogging for the North Shore-Barrington Association of REALTORS (NSBAR). According to the Education Manager, the number of agents who have signed up indicates that our local agents are extremely interested in learning about how blogging can benefit both them and the consumer. How great is that?

As for me, I'm very excited and honored to have this opportunity to share the benefits of this important social and business tool.

Wish me luck!

For years, couples would stroll through their neighborhood at dusk and peek into the windows of their neighbors homes just when the lights were turned on inside the house but before the curtains were drawn for the evening. Snooping, for sure, but hard to resist that quick glance, don't you think?

We have always been a nation that is obsessed with real estate. We greedily seek information about buying, selling, investing, staging, decorating, remodeling, flipping, etc. A whole television network is devoted to our obsession with real estate with reality based shows that focus on the real-life experiences of homeowners as they navigate the world of real estate.  Heck, we even search real estate websites just for fun - to see how other people are living and decorating their homes! And everyone knows that party conversations more often than not turn to the state of the real estate market in some capacity.

Information of every kind about real estate is out there for anyone to see if they know where to look.  Real estate voyeurism has gone from peeking into windows at dusk to viewing the interior of homes online, to being able to see what your neighbors owe on their homes or who is about to lose their home in foreclosure.

All the sites out there make it easy for people to find out your personal information. Much of our personal information has now become public knowledge. Much of this information is incorrect or incomplete.

It's scary. Am I the only one that finds this scary? How can we close the curtains and keep our private lives private?

I think I've encountered some of these people online...have you?

Cartoon by Dave Walker. Find more cartoons you can freely re-use on your blog at We Blog Cartoons.

I ran across this cartoon today and just had to share it. Have a great day!