Britta Rivera Venture

CHICAGO REAL ESTATE NEWS & MORE

CHICAGO’S LAKE FRONT LUXURY…RENOVATED HOME $1.8M ; JUST 42 STEPS TO THE LAKE IS A RARE FIND!

Published 8/16/14; written by Britta Rivera

Chicago has amazing opportunities for luxury homes, but this unique completely renovated residence is a rare find.  Local developer’s found a spectacular gem to renovate and it’s just 45 steps to the lake, near Loyola University Campus.  Rest assured, this is a must see for the most selective buyers and is listed for $1,845,000.

1052 Albion, Chicago

This impeccable gut rehab offers 6000 square feet of amazing space which includes; 7 bedrooms, 5 1/2 baths, sitting room, study, heated sun room and 3-car garage.  The master suite allows you to enjoy Chicago’s beautiful lake view.  Huge deck is great for entertaining and tree-lined off-set street offers privacy.

The interior finishes are breathtaking; with top-of-the-line appliance package, custom cabinetry, granite, hardwood flooring, luxury baths with whirlpool tub, heated flooring, along with dual zoned heating.

It is truly the best of both worlds; historic brick exterior with newly renovated interior.  It’s also within walking distance to the lake, tennis courts, rowing and neighborhood shopping, which offers conveniences at your fingertips.

Since it’s such a unique find, interest level is certain to be extremely high.  Feel free to contact Britta Rivera Venture today at britta.rivera@comcast.net or call 312.806.3297 for details.  Only qualified buyers will be invited for an exclusive tour, so make sure to have your financing in order before setting appointment.

Ready for move-in fall 2014. 

August 16, 2014 Posted by | CHICAGO REAL ESTATE, NEIGHBORHOOD SCOOP | , , , , , , , , , , , , , , , , , , , | Leave a comment

[2013 VIDEO] WARREN BUFFETT ANNOUNCES BERKSHIRE HATHAWAY MERGER…KOENIG & STREY – PRUDENTIAL RUBLOFF JOIN FORCES

On Tuesday November 12, 2013, billionaire Warren Buffett made an exciting announcement; about two legendary Chicago real estate firms set to merge this spring.  Luxury home sales powerhouse Koenig & Strey Real Living and Prudential Rubloff will join forces under his Berkshire Hathaway brand.  They are set to become one of the top real estate brokerage firms in the entire Chicagoland area, gaining a huge percentage of market share.

Essentially, Prudential Rubloff sold its ownership interest in their company to Home Services of America; a Berkshire Hathaway affiliate.  Making this the most notable real estate merger in Chicago’s history.

Over 700 agents showed up to a last-minute surprise meeting at the Drake Hotel, after receiving an email invitation late in the day on Monday (including me!).  It was a shock to hear about the merger, not because it was unexpected, but due to the complete secrecy of this news.  There were no rumors nor talks in advance throughout the company, at least not at an agents level.

The exciting part about this merger, is that they will now both fall under the prestigious Berkshire Hathaway brand.  The company was named The World’s Most Admired Companieswhich offers buyers and sellers even more confidence when using its services.  Major backing of these exclusive firms by Buffett was confirmed; since it is the FIRST time he has allowed a real estate affiliate to fall under the prestigious Berkshire Hathaway name.

During the 60 minute presentation several top executives spoke, including; the current President of Koenig & Strey, Nancy Nagy, and owners of Prudential Rubloff, Chris Eigel and Michael Pierson.  Their joy and complete support of this mega merger could be felt throughout the huge venue.  They will all stay on as top executives when the transition is complete this spring.  And to top it off Warren Buffett hit the big screen, sharing his excitement about the merger with all in attendance.

This press release explains the magnitude of this game-changing announcement and how it is certain to impact Chicago real estate in the future.  Coming this spring the name will change to BERKSHIRE HATHAWAY KoenigRubloff Realty Group.  It may be a mouthful, but the firm will certainly offer clients extraordinary service and a solid reputation.  By combining the most experienced real estate professionals with premier marketing and a top brand name, they will give the competition a run for the money.

Yes indeed, this is exciting news!  It brings me personal pleasure to know that I work for the most exclusive real estate brokerage firms in the great City of Chicago!

Interesting FACT…in 2012 the combined firms closed more than $4 billion in sales; making it #2 in market shares based on volume.  Combining forces will bring the total number of brokers to over 1600 company wide.

NEED ASSISTANCE WITH SELLING OR BUYING IN THE CHICAGOLAND AREA?  CONTACT A REAL ESTATE PROFESSIONAL AT THIS PRESTIGIOUS FIRM….I WOULD LOVE TO HELP! https://brittariveraventure.wordpress.com/about/

CHECK OUT PHOTO’S FROM THIS EXCITING ANNOUNCEMENT AT THE DRAKE

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November 17, 2013 Posted by | CHICAGO REAL ESTATE | , , , , , , , , , , , , , , , , , , , , , | Leave a comment

TIPS ON SELLING A SHORT SALE….HOW BEST TO GET BANK APPROVAL; IS NOW A GOOD TIME?

HOUSE PHOTOPrior to the housing market crash back in 2007, most had not heard about a Short Sale nor understood what it meant.  This includes real estate agents, attorney’s, and struggling homeowners.  However, as the home prices continued to decline and the economy crumbled, many sellers and agents soon became familiar with how a short sale could help.  Is now a good time for a short sale?  Read below and you will see that it certainly is the BEST time to get it done.

During the past several years millions of homeowners have successfully completed a short sale transaction.  There are simple tips to make sure your short sale is approved by the bank and that it goes as smoothly as possible.  The main ingredient is securing a real estate agent knowledgeable of the short sale process.  Using an experienced agent who works with a real estate attorney and/or negotiator can significantly increase your chances of approval.  I have successfully completed many short sales and although they all have different challenges, my knowledge has helped in getting them approved.

The first step is to list your home with a real estate agent experienced with short sales; banks will not begin the process without a qualified buyer.  Your real estate agent should price the home according to the current market, not based on what you owe.  The goal is to sell your home quickly, but at a fair market value which a bank is most likely to accept.  Pricing of a short sale property tends to be about 20% – 30% below comparable market value properties and it will be verified through a bank ordered BPO (Broker Price Opinion).

Another important factor is to use a real estate agent who truly cares about helping you.  If they are just in it to make a commission check, they’re probably not the right choice.  Agents also need to be very accessible, since the short sale process is timely and banks expect quick responses to requests.  A good way to test an agent is to call them and time their response time, if they take days to get back to you, move on.

As a seller you also have to be flexible and very willing to supply all required documents to the bank.  This will typically include; a hardship letter, recent tax returns (past 2 years), last 2 paycheck stubs, profit/loss statement, bank statements (last 3 months), real estate listing agreement, copy of the contract, and misc documents.  Have these items ready and available for submission up front to streamline the process.  If you use an experienced agent they will help with this process.

Finally, learn the facts about a short sale and consult with your accountant about the tax consequences.  This video can help and should be viewed in advance.   It is also important to note; The Mortgage Forgiveness Debt Relief Act and Debt Cancellation  was extended through 2013 and can save you thousands.  If you are considering a short sale…do it now!   Because if this act does not get extended again this year, qualified sellers will feel the effect.

What is a Short Sale?

  • A short Sale is a sale of real estate in which the proceeds fall short of the balance owed on the property’s loan. In simple terms, your home value is no longer above what you paid for it, so banks may allow you to sell it for the current market value.

How long is the Short Sale process?

  • Many have heard that short sales are complicated and take months to close.  Well, in some cases this may be true, but the process can be simplified when using an experienced short sale real estate agent, short sale negotiator and/or attorney.  A negotiator or attorney has relationships with many top banks, which allows them to know exactly how to present the offer.  They also have the time required to stay on top of your file and streamline the process.

Who qualifies for a Short Sale?

  • Who truly qualifies for a short sale may surprise you.  It is not only the homeowner’s who have fallen behind on their mortgage payments.  In most cases it is anyone showing the financial inability to catch up on their payments or who may fall behind in the near future could qualify.  The banks will require a “hardship letter” which explains why a homeowner may qualify.  It could be due to illness, divorce, job loss, relocation, excessive debt or other similar situations.
  • Bottom-line, if you cannot sell your home for what you currently owe on the loan and are suffering from a hardship, it would be wise to seek help.  Chances are you may qualify for a short sale.  It is better to find out now, then to wait for the foreclosure to occur.

Short Sale challenges

  • Make certain to continue paying your assessments & real estate taxes.  In the event you fall behind on your assessments, your HOA can cause you to lose your home using their rights according to the bylaws.
  • Make certain your homeowners insurance is kept current.  If damage occurs during the process and you are not covered, this will cause more issues.  Also if you have moved out, keep your heat on to avoid pipes bursting and causing water damage.  You are responsible for the home until the new buyer closes.
  • Do not apply for a loan modification or bankruptcy protection during the short sale process, or it will cause issues.
  • Speak with you tax account to request information on possible penalties due to your short sale.   Also ask about The Mortgage Forgiveness Debt Relief Act and Debt Cancellation which was extended through 2013, and can save you thousands!
  • BRV along with other short sale companies cannot guarantee your short sale will be approved.  It is our goal to assist in getting bank approval, but are unable to advise you on accounting and/or bank default penalties, or any other outcome due to your short sale.  Seek legal advice in advance.

NEED ASSISTANCE WITH YOUR CHICAGO SHORT SALE?  CONTACT BRV TODAY FOR YOUR FREE SHORT SALE CONSULTATION.

July 7, 2013 Posted by | CHICAGO REAL ESTATE | , , , , , , , , , , , , , , , , | 1 Comment

1/3/13: THE MORTGAGE DEBT RELIEF ACT OF 2007 EXTENDED THROUGH 12/31/13; GREAT NEWS FOR STRUGGLING HOMEOWNERS!

1- MLS Front PHOTO 1115 crosbyAccording to multiple news outlets the Mortgage Debt Relief Act of 2007 has been extended through December 2013.  This is great news for struggling homeowners and a major disaster was averted.

This will serve as a lifeline to millions of American’s and could have caused chaos in the real estate market, since it expired on 12/31/12.  The Fiscal Cliff agreement saved the day by approving this extension at the last-minute.

The announcement of an extension is huge, because it means most homeowners considering a short sale or forced into foreclosure, will see another year of tax relief.  It will literally save them thousands of dollars in taxes (if they qualify).

Need assistance with buying or selling a short sale in Chicago?  Contact our experienced team of licensed real estate agents at BRV GROUP.   We service the city and suburbs and work hard to streamline the process.

READ FULL DETAILS HERE AND CONSULT WITH YOUR TAX ACCOUNTANT FOR DETAILS.  SOME RESTRICTIONS APPLY…SO GET INFORMED!

January 2, 2013 Posted by | REAL ESTATE NEWS | , , , , , , , , , , , , , , , , , | Leave a comment

(VIDEO) 2011: EX-GOV ROD BLAGOJEVICH SELLING CHICAGO HOME FOR $1.7 MILLION

According to real estate sources former Governor, Rod Blagojevich, listed his home this weekend.  The brick 5-bedroom, 4-bath home located in Chicago’s Ravenswood Manor neighborhood is now on the market for $1.7 million.  

Although the listing agent will certainly get a lot of free publicity, they may also receive more showing requests from curious “pretend buyers”, than serious ones.   It will be interesting to see who will take the burden or reward of purchasing the home.  They could look at buying it from two different angles, either they will never get privacy due to the media or it would be a great investment due to the history behind it. 

No matter how you look at it, the buyer of his house will need to be ready to welcome the unexpected.  Does Blago need the cash for his lawsuit?  Where will his family go next…to a rental?   We know where he is probably headed…

RENT, BUY OR SELL IN CHICAGO…Start viewing incredible homes or register here for assistance.

October 3, 2011 Posted by | CHICAGO REAL ESTATE | , , , , , , , , , | 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

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

CHICAGO RENTS CONTINUE TO RISE, WHY NOT BUY?

Chicago area rents have continued to climb during the past year.  While many renters scramble to find the “perfect” rental in the city, they often find themselves out of luck for two reasons.  The first reason is the huge increase in rental rates at A+ buildings, many renters just cannot afford to pay the high premiums.  The second reason is apartments in the city are being rented faster than ever before.

Renters in search of a home have found themselves losing out to the highest bidder, and find the lack of inventory astounding.  If you want a two bedroom in the downtown market for under $2000 per month, good luck!  And if you happen to find one, you better act quickly or it will be gone.  Many renters are also staying put, so there is slim pickings and getting tighter by the day.  It is not unheard of for a rental to go on the market on a Monday, and be gone by Friday.

One more important thing to note; the requirements for renters are becoming almost as strict as getting a loan.  Have a pet? Expect to cut the available units in half, or get ready to put down a $500 pet deposit, if lucky enough to find an apartment allowing pets.  Have mediocre credit?  It may put you to the back of the line, and yes…multiple offers is common.

But this all raises the question…why are so many paying exuberant rents when they can own for far less in many scenarios?  Well, the fear put into them about the continued decline in pricing is probably the source, but in reality does this make sense?  If the general public would go back to the original tradition of the “American Dream”; essentially owning a home and stop worrying about the home values, maybe they would think differently.  While it is also a fact, many have declining credit scores and are fearful of getting a loan, there are still FHA loans available and believe it or not, banks are still offering conventional loans.

According to Crain’s and Appraisal Research, rents at downtown buildings are already well above the highs of the last boom and are likely to continue to rise.  Class-A  properties have already seen a 9.5% increase from a year ago.  Will this now create a “rental bubble?”

In the coming years, will renters realize the point of owning a home was to invest for the long-term instead of feeding thousands into a landlords pocket?

How long will renters continue to dump money into a bottomless hole?  Well, since this type of depressed housing market has not been experienced in the history of reporting, only time will tell.  Let’s just hope the incredible “once in a lifetime” deals are scooped up by the buyers thinking about their future.  In my opinion, it still really is a great time to buy, no matter what we are all being told.

READ FULL STORY  IN CRAIN’S

August 15, 2011 Posted by | CHICAGO REAL ESTATE | , , , , , , , , , , , | 2 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.

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

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

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