Britta Rivera Venture

CHICAGO REAL ESTATE NEWS & MORE

CONVICTED FORMER POLITICIAN BETTY LOREN-MALTESE HOME AUCTIONED

This past Thursday, the government auctioned the home of flamboyant former Mayor and Town President of Cicero, Betty Loren-Maltese. In an attempt to recoup some of the debt owed after her arrest, they sold her previous home for $87,000, but this is a far cry from the money she still owes.

After being convicted of fraud and sentenced to 8 years in prison, for participating in an insurance scam essentially stealing $12 million from taxpayers, she was released in 2010. Maltese worked as a hostess after spending just 6 1/2 years in prison. But she soon left that job, probably due to the embarrassing press she received.

After watching the auction, Maltese told the Chicago Sun-Times, that the son of a neighbor purchased the three-bedroom home during the sale.

Maltese continues to claim she is innocent and has appealed the conviction. She currently resides in an apartment in Palos Hills, which is a long way from her “glamorous lifestyle” before getting caught.

Is ex-Governor Rod Blagojevich next?

CHICAGO REAL ESTATE NEWS

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July 31, 2011 Posted by | CHICAGO REAL ESTATE | , , , , , | Leave a comment

(VIDEO) INCANDESCENT BULBS PHASING OUT SOON, BETTER STOCK UP (via Brittaj17's Blog)

After 130-years of being available and loved by many, the incandescent light bulbs are about to phase out.  Beginning early next year Americans will see them wiped away from the shelves, so many are stocking up. It's crazy to think that under the new federal law, American manufacturers will no longer be allowed to make 100-watt bulbs, starting next year. The government has a major financial cri … Read More

via Brittaj17's Blog

July 31, 2011 Posted by | Uncategorized | 1 Comment

CHICAGO 2011: RENTERS INSURANCE ON THE RISE; AS RENTAL MARKET SURGES

The Chicago Tribune published an excellent article on the recent increase in renters insurance policies.  During the last few years many homeowners have opted to rent housing versus buying, for multiple reasons.

In the past, many renters had minimal furnishings and a limited amount of electronics, so they had less risk without insurance.  But in today’s market many renters have more expensive items and a higher level of equipment, including iPad’s, iPhone’s, Plasma TV’s, and computers.  As they move from single-family homes to condos or from owning a house to renting one, this creates more demand for renter’s insurance.

The spokesman for Allstate Insurance, Raliegh Floyd, confirmed what most now know to be true in this market.  During an interview he stated; “Multiple trends are probably fueling this.  Apartment vacancy rates are trending downward, more apartment complexes are requiring insurance, and homeowners forced out of their homes have more stuff to insure.  Former homeowners also skew older, so there is more appreciation for the need to insure their things.”

As the rental market continues to heat up, and many more people are in search for the perfect rental, we can expect to see continued growth in renters insurance policies.  If you currently do not have one, it is a practical thing to consider, especially since costs are reasonable.  But like with anything else…will supply and demand cause insurance policy costs to rise?  Only time will tell.

While we know the rents are continuing to climb, it may be time to consider buying a home.

July 25, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , , , , | 2 Comments

2011 VIDEO: R. KELLY FACING FORECLOSURE ON CHICAGO MANSION; JOIN THE CROWD

When it comes to a tough economy and a depressed housing market, it seems everyone is affected.  It was reported that this includes Grammy Award-winning singer, R. Kelly, who has been hit with a $2.9-million foreclosure suit on his 11,140 square foot mansion, located in Olympia Fields.  The Chicago suburb has seen a sharp decline in residential housing prices, and with Kelly buying at the peak in 1999, value on his home has also fallen.

The news surfaced when J.P. Morgan Chase Bank filed a complaint against, Robert S. Kelly, claiming he has not paid his monthly mortgage payments since June 2010.  This comes as a shocker to many, because he has made millions on his hit songs which include, “I Believe I Can Fly,” “Ignition”, “Your Body’s Callin”, and “Bump N Grind”.  But in the end, he would join the crowd of millions of other homeowners facing a foreclosure crisis.

According to a source, Kelly has not lived in the home for over a year, and he stopped payments on the mortgage due to the continuous drop in value.  It’s allegedly not due to financial troubles, as many originally suspected.  Sources say the reality is, like many homeowners, he felt the home pricing was in such bad shape, he quit paying the mortgage, in an attempt force the bank to negotiate a loan modification.

An appraisal shows the home price plunged by 26%, to $3.8 million, in 2010, compared  to $5.2 million in 2009.  Well, this sounds more like a short sale situation.  Hopefully Kelly will decide to go that route instead of a foreclosure, because although he is probably financially stable, it would cause his credit to fall into the gutter.  A short sale typically is a lot more forgiving than a foreclosure.

What superstar wants below grade credit?  R. Kelly, look up our short sale team if you would like to discuss this as a better option.  We would love to assist!

INCREDIBLE OLD IRVING PARK CONDO!

CASEY ANTHONY RELEASED-READ STORY NOW!

July 17, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , , , , , | 8 Comments

BRITTA RIVERA VENTURE GROUP ALIGNS WITH KOENIG & STREY REAL LIVING; CHICAGO TEAM OF REAL ESTATE PROFESSIONALS

BRITTA RIVERA VENTURE GROUP has launched; assembling a team of experienced agents aligned with the premier real estate firm, Koenig & Strey Real LivingBRV offers clients and developers superior service by a group of real estate professionals, dedicated to the real estate industry.  BRV team members have many years of experience in new construction sales & marketing, as well as renting, listing and selling resales in the Chicagoland area.

The unique aspect of this new venture is the level of experience and professionalism the team offers.  The list of team members include, team leader, Britta Rivera who has been involved in real estate sales and leasing since 1993.  During her many years in the real estate industry, she has held the position of General Manager and Vice President of Sales for multiple local, National and international brokerage firms.  Rounding off the team is, Catherine Hughey, Lona Reiling, and David Silverman.

BRV assists buyers, sellers and  renters with their housing needs.  They specialize in the sales & marketing new construction developments, condo conversions, resale listings, and buyer/renter representation.  BRV team members have also been involved in launching dozens of successful multi-million dollar developments in Chicago and the surrounding suburbs.  BRV also works with a short sale negotiation team to streamline the process, for clients involved in a short sale transaction.

Let this professional team of agents provide the extraordinary service you deserve.  Please contact team members at 312.475.1400.  Visit our website for a list of available homes in Chicago and contact information.

Ask about our City of Chicago Employee Incentive Program!

RENT, BUY, SELL…WE CAN HELP!

Looking to grow your business?  Experienced Real Estate agents with extraordinary service standards, team spirit and Illinois RE license, please contact brivera@koenigstrey.com or call 312.475.4548.  

BRV is growing our team and have only two more openings available.  Limited opportunity.

July 16, 2011 Posted by | CHICAGO REAL ESTATE, REAL ESTATE NEWS | , , , , , , , , , , , , , , , , , , , , , , , | 32 Comments

2011 GROUPON REAL ESTATE DEALS; AGENTS RECEIVE THE COLD SHOULDER

Groupon has surged as a leader in website discount platforms.  It even attracted a large Chicago-based real estate firm, who reportedly received 200 new buyers with its $1000 Groupon rebate.  But as other real estate agents and brokers decided to follow suit, they say Groupon was not too eager to work with them.

It has been reported that Groupon allegedly canceled plans by a Manhattan-based brokerage firm, to also offer specials back in May.  Groupon said very little about the accusations that they are shying away from future real estate group buys, except that the company would like to ensure specials benefit consumers and the companies making the offer.

Well, it is still not clear why both parties would not find an incentive for buying and selling a home beneficial, so it will interesting to hear the real issue.  I guess we will need to stay tuned.

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July 5, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , , , , | 1 Comment

   

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