Is it a Good Time to Invest in a Rental?

If you’ve been watching the housing market’s long-term slump, you’ve probably wondered if it’s time to pick up an investment property. Here are the things you need to check before you make that commitment: Read More…

 MLS Search -See what properties are renting for  and what you can purchace them for.

 CHICAGOLAND MARKET WATCH

MARKET SUMMARY -NORTHBROOK

 MARKET SUMMARY -MORTON GROVE

 MARKET SUMMARY -GLENVIEW

Tips for Buying or Selling a Home Over the Holidays.

People don’t generally think of year-end as the ideal time to buy or sell properties. Yet, that may be precisely the reason why the winter holidays can be a great time to do either! Read More

 

 

 

 

 

School Information

 

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Schools Report Card

Glenview, Illinois Schools

• Glenview School District #34
• Westbrook elementary school
• Attea Middle School 6-8
• Glenbrook High School District #225

Northbrook, Illinois Schools

• Glenbrook High School District #225
• Glenbrook North
• Northbrook schools district 28
• Northbrook School District #27

Northbrook/Glenview schools district # 30

• Maple, Wescott, and Willowbrook
• Northbrook Middle School

Morton Grove, Illinois Schools

Niles North High School District #219

 

• Niles North High School
• Niles West High School

District #67

• Hynes Elementary School K-4
• Golf Middle School 5-8
• Morton Grove/Skokie Schools District 69
• Tomas Edison School

View District Profile for Morton Grove School Dist 70

• Park View Elementary School

East Maine School Distric 63

• Mark Twain
• Nelson School
• Melzer School
• Hynes Elementary School

School Information

 

• Chicago Public Schools
• School Matters
• GreatSchools.net
• 2008 School Report Cards
• School District Information:
  Illinois State Board of Education
  (School Report Card)100 W. Randolph, Suite 14-300
  Chicago, IL 60601
• www.eschoolnews.org
• Colleges
• Foundation of Excellent Schools
• Special Education
• National Education
• College Graduate Directory
• American School K-12
• Illinois College Benefits
• Online College Directory

 

 

 

 

 

New tool simplifies mortgage shopping

New tool simplifies mortgage shopping. Great information to understand the differences when  borrowing at higher interest rates as opposed to borrowing at a lower interest rats and paying points. It’s WORTH the read!

   Jack Guttentag
   Inman News

Click Here For More Details 

   

Warren Buffett buys Koenig & Strey

Great News for my company! We’re all very excited and proud.

 Click Here For More Details

Truth in Lending disclosures may be of little use

Today’s Real Estate News

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Selling Your Home

Selling Your Home Read More

Doing whatever you can to put your house’s best face forward is very important if you want to get close to your asking price or sell as quickly as possible. Short of spending a lot of money, here are several ideas for making your home show better:

 

 

Tax Credit Can Be Used for Down Payment

Daily Real Estate News
Tax Credit Can Be Used for Down Payment
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.

Previously, most buyers wouldn’t receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

“We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at “The Real Estate Summit: Advancing the U.S. Economy,” at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.

Other Solutions for Today’s Market

During his address at the summit, Donovan went on to say that the Obama administration plans to further stabilize the housing market. “I do think we have some early signs that the market overall is stabilizing,” Donovan says. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”

The morning session included a panel discussion that was moderated by CNBC’s Ron Insana. Panelists examined cutting-edge solutions necessary to promote and preserve homeownership and real estate development, stimulate the economy, and protect the nation’s taxpayers. They also shared their ideas on what the role and responsibility of the federal government is in the revitalization effort.

“Right now the Federal Reserve is the market,” said panelist Jay Brinkman, chief economist for the Mortgage Bankers Association. “What will be the effect when the Fed stops buying?” Brinkman explained that an exit strategy must be planned for the long-term; the federal government cannot continue to support the mortgage markets indefinitely.

“We are thrilled that so many high-caliber individuals were able to join us today at this important meeting to promote stability in the housing market and the U.S. economy,” said NAR President Charles McMillan. “We look forward to an ongoing dialogue and action toward this goal, during our midyear meetings this week and beyond.”

The real estate summit is part of the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo. During the week ending May 16, more than 8,500 REALTORS® will attend meetings, visit lawmakers and inspire action on Capitol Hill.

Source: NAR

Home sales in Chicago area start to show more signs of life.

Optimism grows as sales increase slightly, median price up from previous month

By Mary Ellen Podmolik | Tribune reporter

In the past few weeks, agents say an undeniable scent of sales is in the air, and data released Thursday gave credibility to their talk.

March sales of previously owned single-family homes and condominiums in Illinois posted their second consecutive month-over-month gain, and for the first time since June, the statewide median price for a home rose from the prior month.
Suburban counties seeing among the largest month-over-month sales increases were Lake County, 65 percent; Kendall County, 51 percent; and Cook County, 38 percent.

Realty agents are taking pains to not get too giddy. After all, that 38 percent one-month gain in sales in Cook County translated to 2,409 properties sold. In March 2008, 3,432 homes sold in Cook County.

Real Estate Glossary

 Learn the definitions of the real estate terms.

Click Here for Real Estate Glossary

A

Abstract of judgment, law
The summary of a court judgment that creates a lien against a property when filed with the county recorder.

Accelerated cost recovery system
A tax calculation that provides greater depreciation in the early years of ownership of real estate or personal property.

Accelerated depreciation
A bookkeeping method that depreciates property faster in the early years of ownership.

Acceleration clause
A provision that gives a lender the right to collect the balance of a loan if a borrower misses a payment.

Acceptance
The seller’s written approval of a buyer’s offer.

Access
Any means by which a person can enter property.

Accessibility
The degree to which a building or site allows access to people with disabilities.