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CHICAGO REAL ESTATE NEWS & MORE

(VIDEO) 2011: IS BANK OF AMERICA GETTING OUT OF THE MORTGAGE BUSINESS? NEW DEBIT CARD FEES BEGIN

Is Bank of America getting out of the mortgage game?  Well, according to a recent blog by a Mortgage Specialist the signs of this possibility are clear.  While this news may not be a surprise to many industry experts, customer’s will probably be shocked to hear.  Several clues in recent months have led to this speculation, including their recent sale of a half billion-dollars worth of portfolio loans they were servicing.

It was also announced this week that B of A will begin charging monthly fees when using your debit card for purchases.  Beginning January 1, 2012 they will impose a $5.00 per month fee, even if you use it only once in a month, which has many of their customers fuming.  Experts suggest the change was in response to new regulations which cap the fee banks can pass onto business owners.   How else can they make up the lost revenue?  Fees are the easiest way to replace the loss.

While this is not good news for B of A consumers, who are already struggling to put food on their table, it gets worse.  Other big banks such as JP Morgan Chase and Wells Fargo have already began testing a $3.00 per month fee in some parts of the country.

When will the fees end?  We already pay to remove our own money from the bank and/or for a live teller.  Will we have to go back to the “old days” of keeping our cash under our mattress?

September 30, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , , , , , , | Leave a comment

(VIDEO) 2011: NEW CURFEW IN CHICAGO BEGINS SUNDAY; IS BIG BROTHER WATCHING?

New Chicago curfew for minors begins Sunday 10/1/11.  Do you know where your kids are?  Read details here…

(VIDEO) 2011: NEW CURFEW IN CHICAGO BEGINS SUNDAY; IS BIG BROTHER WATCHING?.

September 29, 2011 Posted by | NEIGHBORHOOD SCOOP | , , , | Leave a comment

(VIDEO) 9/27/11: JENNIFER HUDSON OPENS WEIGHT WATCHERS IN CHICAGO

Oscar winner Jennifer Hudson opens the Weight Watchers Jennifer Hudson Center in Chicago today. 

(VIDEO) 9/27/11: JENNIFER HUDSON OPENS WEIGHT WATCHERS IN CHICAGO.

September 27, 2011 Posted by | HEADLINE NEWS | , , , , | Leave a comment

HOW TO AVOID REAL ESTATE DEAL KILLERS

A great article was publised on Trulia this week called TOP 3 DEAL KILLERS  covering issues being seen during a real estate transaction.  It outlines many of the main issues buyers and agents are now dealing with on a daily basis.  If you are interested in buying anytime soon, this is a MUST READ.  

Often move-up are shocked to find these new obstacles when deciding to buy another home.  If you know what to look for when beginning your search, it will save you a lot of time and aggravation. 

As a real estate agent, these are some of the challenges faced in my dealings as well so I fully agree with their findings.  The best way to avoid real estate “deal killers” is to know in advance the possible issues hit them head on and use a professional real estate agent to assist with your purchase.

Searching for a great deal on a Chicago home?  Start viewing incredible homes or register here for your FREE list of available residences.

September 23, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , | Leave a comment

ROSIE O’DONNELL BUYS $2.5M HOME IN CHICAGO’S LAKEVIEW AREA

Looks like Rosie O’Donnell will be moving for Chicago, at least for now.  The comedian and talk show host purchased a luxurious 6000 square foot home in the Lakeview area for $2.5 million. 
 
This exquisite home was built back in 2007 and includes five bedrooms, seven baths, and in-home theater.  The selling point that sealed the deal is that it came completely furnished, which was good news for Rosie.  She probably wants to test the water to see how long her show lasts, prior to investing too much in Chicago real estate.  It was previously owned by a top executive of “The Oprah Winfrey Show”, who is moving to LA to work on OWN Network along with Oprah.
 
O’Donnell’s move to Chicago was arranged just in time for her new show called “The Rosie Show”  airing on Oprah’s OWN Network on Oct. 11th.  Let’s see if she decides to call Lakeview her permanent home.
 
Welcome to Chicago Rosie!  Please look me up when you’re ready to sell:).
 
Information provided by Realtor.com.

September 22, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , , , , | 1 Comment

(VIDEO) 9/21/11: FEDS APPROVE NEW STIMULUS PLAN TO LOWER INTEREST RATES

WATCH VIDEO NEWS UPDATE

Reports that the Federal Reserve has approved a stimulus plan today to lower interest rates are heating up the internet.  This new policy would help all areas of loans including mortgages and business loans, offering an added incentive for consumers and companies to borrow and spend more money.

This new policy would involve the sale of $400 billion in short-term Treasuries, in exchange for an equal amount of longer term bonds.  According to a statement by the Federal Reserve, “This program should put downward pressure on long-term interest rates and help make broader financial conditions more accommodative.”

Although interest rates are already at record low levels, additional cuts may entice buyers to buy a home and stabilize the housing market.  This makes buying a home even more attractive for move-up and first-time buyers.  Low interest rates + low home prices = INCREDIBLE OPPORTUNITY!

Want to take advantage of the good news…start viewing incredible homes or register here for your FREE list of available residences in  the Chicagoland area.

READ MORE HERE IN THE NEW YORK TIMES.

YOU MAY ALSO LIKE “TELL THE MEDIA TO SHUT THE FRONT DOOR!”

September 21, 2011 Posted by | CHICAGO BUSINESS - TOP PICKS | , , , , , , , | 1 Comment

BEST VALUE: CHICAGO’S OLD TOWN VILLAGE – TWO BEDROOM RENTAL AVAILABLE NOW!

If you are searching for the best value in Chicago’s Old Town Village neighborhood this incredible two-bedroom, one-and-a-half bath is ready for move-in now!   Amazing sunlight fills the living areas through huge bay windows, there is also a private deck off the large master bedroom and parking is included.  Convenient location is near Kennedy expressway and Gold Coast!

Special price of $1675 per month, makes this the best value in the Old Town Village neighborhood located on the northwest side of Chicago. If you would like a tour please call 312.475.4548 to schedule your appointment.

CHICAGO REAL ESTATE NEWS

MLS #07906484-Agents can view easily using Show Assist via MLS.

September 19, 2011 Posted by | CHICAGO REAL ESTATE | Leave a comment

2011: MORTGAGE RATES DROP TO 60-YEAR LOW; OFFERS GREAT OPPORTUNITY FOR BUYERS

It was announced today that mortgage interest rates have dropped to a 60-year low.  The average 30-year fixed interest rate is now listed at 4.09% according to news reports. The 15-year fixed rate mortgage, now popular with refinances, is now averaging 3.3%.

This is great news for buyers interested in securing a new home.  Combine these rates with some of the lowest housing pricing in years, and it makes the perfect mix for a buyers market.  It is important to note, the rates are the national average and based on credit scores and lenders, so you will want to speak with a credible lender for exact figures.

Anyone sitting on the fence should really consider buying, by taking advantage of this rare opportunity.  Owning a home has always been “The American Dream”, low-interest rates and discount pricing makes it more affordable than ever.

If you are looking for amazing deals in Chicago, start viewing incredible homes or register here for assistance.

September 16, 2011 Posted by | REAL ESTATE NEWS | , , , , , , , , , , | 1 Comment

CHICAGO 2011: 25% OF HOMEOWNERS “UNDER WATER”; BUYERS MARKET STILL IN PLAY

Crain’s reported today that approximately 25% of Chicago-area homes with mortgages, are now worth less than the debt owed on them.  This is certainly no surprise to the many homeowners feeling the pain of the recession.  What’s shocking is that the number is not higher, it seems like everyone knows someone either in the process of a short sale or foreclosure.

The number of short sales and foreclosures seem to be growing at an epidemic rate.  Real estate agents specializing in short sale transactions are busier than ever and vultures are scooping up investment properties throughout the city.

The detailed report was prepared by CoreLogic and shows a quarter of Chicagoland homeowners with mortgages, are either “under water” or had “negative equity”, during the second quarter.  The chief economist, for CoreLogic, Mark Fleming, was quoted as saying, “The hardest-hit markets have improved over the last year, primarily as a result of foreclosures.  But nationally, the level of mortgage debt remains high relative to home prices.”

This is a serious issue and with the high number of homeowners feeling the pinch, the end does not appear anywhere in sight.  There is good news for some; first-time buyers, investors, and longtime renters have the opportunity of a lifetime to secure a heavily discounted property at record low-interest rates.  

It is impossible to believe that anyone with semi-decent credit, steady employment and a minimal down payment would not apply for a FHA loan and secure a home now.  Renters still hanging on in this market would have to be those who are just not in the position to buy a home.  In the end, it is still better to own a home than to pay rent to a landlord.

If you are interested securing an amazing deal in Chicago, start viewing incredible homes now or register here for assistance.

September 13, 2011 Posted by | CHICAGO REAL ESTATE | , , , , , , , , , , | Leave a comment

2011 VIDEO: NEW TRADER JOE OPENS IN SOUTH LOOP, EXCITEMENT FILLS THE NEIGHBORHOOD

The new Trader Joe’s grocery store has finally opened in Chicago’s South Loop at the corner of Roosevelt and Wabash.   It is located on a well-traveled corner and was very much-needed to offer more shopping alternatives, to the thousands of area residents.  The upscale grocery chain has a huge following and typically receives rave reviews.

Above video footage of the grand-opening, shows the excitement felt by many neighborhood residents and 2nd Ward Alderman Bob Fioretti.  It is amazing to see how the opening of a grocery store can bring so much joy to so many. 

This location should ensure Trader Joe’s success, but it will also bring heavy competition to the Jewel and Whole Foods.  Trader Joe replaces Sams Wine & Spirits at 50 East Roosevelt Road.

Happy shopping!

Searching for a great deal on a Chicago home? Start viewing incredible homes or register here for your FREE list of available residences.

September 11, 2011 Posted by | Uncategorized | , , , , , | Leave a comment

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