Real Estate In Chicago Land Area: 2009

Thursday, December 31, 2009

reBlog from viralurls.com: Official ViralURL Blog

I found this fascinating quote today:

1. If you don’t have this already, get a free video recording software like e.g. CamStudio (PC) or Screenflow (Mac)viralurls.com, Official ViralURL Blog, Dec 2009

You should read the whole article.

Wednesday, December 30, 2009

HEALTH ALERT: FDA Posts Expanded Tylenol Recall

FDA Posts Expanded Tylenol Recall
Details...
http://www.emergencyemail.org/newsemergency/anmviewer.asp?a=445&z=43

Selling Your Home In 2010

If you are thinking or know someone close to you
that is going to sell their home in 2010 you need
the proper Exposer in the Market.

Do You Know The Top 10 Marketing Sites To Sell
A Property?

Free Neighborhood Market Analysis On Your Property:
http://www.drigney.com

A Buyers First Step In The Process of Buying A Property
(88% of Time) First Looks On Line (A Website) then
Calls A Realtor or Drives By The Property.

Just One Of The Sites in 2009 Has Over 4.3 Billion Dollars
worth of inventory.

One of The Top 10 Sites Click-Throughs for 2008-2009:
+41.56% Property Unique Viewed, +75.40% Property Page
View and Average Time On A Website +10.83%
Source: Google Analytics

Free Neighborhood Market Analysis On Your Property:
http://www.drigney.com

Tuesday, December 29, 2009

Check this out

I found this brand new list builder that lets you build
MULTIPLE lists with one url.

Plus you can earn some pretty big commission when your downline
upgrades.

Here's the link:

http://www.ListJoe.com/j/rigneyrealty

I think the site is very well put together. What do you think?

Talk to you soon,
David Rigney

Follow Me On Twitter:
http://twitter.com/rigneyrealty

Monday, December 28, 2009

Want to build your Twitter followers list virally?

Hey check this out...

I just found this site that shows you a way
of getting 1000's of new followers on twitter,
I just started using it myself and it's
starting to work already. :)

http://ViralFollowers.com/rigneyrealty/vu
Thought it might interest you.

David Rigney
Follow Me On Twitter:
http://twitter.com/rigneyrealty

Homeowners more cautious on remodeling projects

'Twas only a few years ago, when the housing boom was in full roar, that homeowners didn't have to fret too much over whether the money they invested in remodeling would be paid back at resale time. Indeed, it was practically a no-brainer: Home sale prices were going up so high and so fast that remodeling the kitchen or the master bath would nearly pay for itself. Some remodeling companies had so much backlogged work that clients passed the time on waiting lists.

As Buyers Respond to Tax Credit, U.S. Existing Home Sales Jump 7.4% in November 2009

Existing home sales rose again in November 2009 as first-time buyers rushed to close sales before the original November 30 deadline for the recently extended and expanded tax credit, according to the National Association of Realtors®. Existing home sales–including single-family, townhomes, condominiums and co-ops– rose 7.4% to a seasonally adjusted...

Northeast
Regionally, existing home sales in the Northeast rose 6.6% to an annual level of 1.13 million in November, and are 52.7% higher than November 2008. The median price in the Northeast was $223,400, down 13.1% from a year ago.

Midwest
Existing-home sales in the Midwest increased 8.4% in November to a pace of 1.55 million and are 53.5% above a year ago. The median price in the Midwest was $140,800, a decline of 0.4% from November 2008.

South
In the South, existing-home sales rose 4.8% to an annual level of 2.39 million in November and are 44.8% higher than a year ago. The median price in the South was $151,400, down 1.4% from November 2008.

West
Existing-home sales in the West increased 10.6% to an annual rate of 1.46 million in November and are 28.1% above November 2008. The median price in the West was $231,100, which is 4.1% below a year ago.

Friday, December 18, 2009

=> Psst! ... Have you Heard the Buzz? <=

There's a new, fully automated traffic-generation system that can send 1000s of targeted prospects to your website, every single day, for FREE! It takes just 5 minutes to set it up, and it's totally "viral" ... Checkit out and create a FREE account at http://www.trafficswarm.com/go.cgi?989486

7 Free Videos On Manifesting Your Freedom.

Easily Manifest Financial Freedom
Download Your 7 Free Lessons Now
http://fire1612.thesgr.hop.clickbank.net/?s=online/lessons/

Thursday, December 17, 2009

What's the deal with Downline Secrets 2?

I highly recommend you check this out...

James Grandstaff has just released Downline
Secrets part 2 where he is grilled for over
an hour by Chris Zavadowski (another 6 figure
earner) about how he brought in almost 14,000
members into just one of his downlines.

The great part is I learned stuff that I can
implement right away without having to buy
anything.

The call is totally free and here's what
these guys go over in great detail:

==> How to use the internet to generate
endless leads for free!

==> Why promoting a certain page (revealed
on the call) is a bad idea and what you can
do instead to convert more prospects!

==> You will learn about James' ingenious 3
step strategy that exploded his downline to
over 14,000+ in 18 months.

I was given private access and was told I
could share it with my friends only, so I
wanted to send it to you...

Go right to the member's area here:
http://www.downlinesecrets2.com/?r=39654

Talk to you later,

David

Tuesday, December 15, 2009

Boeing 787 takes flight after two-year delay

Boeing's new 787 jetliner finally got airborne Tuesday, the long-delayed inaugural flight of the world's first commercial plane constructed with half its components made from lightweight composite materials.
The sleek jet lifted off from Everett's Paine Field on a flight over Washington state, beginning an extensive testing program needed to obtain Federal Aviation Administration certification.
"It's very historical. I can't think of a thing about it that I'm not impressed with," said Joe Bierce, a flight instructor for Delta Connection in Jacksonville, Florida, who was among the 25,000 people who gathered to watch the takeoff.

http://www.msnbc.msn.com/id/21134540/vp/34434392#34434392

Saturday, December 12, 2009

Effective Tracking That You Can Bank On!

Pro Tracker Plus includes marketing, advertising, training
and income earning tactics all in one website.

See why the Pro's use Pro Tracker Plus!

Check us out today: http://www.protrackerplus.com/?rid=6312

Illinois foreclosure activity down in November

More than 16,400 Illinois properties got a foreclosure-related notice last month, down almost 18 percent from October, according to Irvine, Calif.-based RealtyTrac Inc.

The Treasury Department is expected to release updated figures Thursday, but data through October showed that fewer than 5 percent of homeowners who completed the trial periods had their mortgage payments permanently lowered to more affordable levels.
Under the program, eligible borrowers who are behind or at risk of default can have their mortgage interest rate reduced to as low as 2 percent for five years. They are given temporary modifications, which are supposed to become permanent after borrowers make three payments on time and complete the required paperwork, including proof of income and a hardship letter.

City of Chicago Property Tax Relief Program

The City Is Doing Something To Help The High Real Estate Tax Increase In Chicago.
It is meant to provide relief between $25 and $200 to City homeowners
hit hardest by increases to their 2008 property tax bill for their primary residence.
This program is needed largely because of the phase-out of the state law
that put a 7 percent cap on the annual increase in the taxable value of
home property, and because the drop of this year's exemption under
that law went to $20,000 from $26,000.
The amount of tax relief you might receive is based on a combination
of income level and the amount of your property tax increase.
For example, the lower your income and the higher your property tax increase,
the more relief you’ll be eligible for.
On this website, you will be able to find an application, instructions and
helpful tools to guide you through the application process.

http://webapps.cityofchicago.org/PropertyTaxReliefWeb/

Wrigley Field Rink Opens Next Week

11 December 2009 –The new owners of the Cubs and Wrigley Field will offer the public a new attraction this year. On December 15th, an ice skating rink will open in the parking lot adjacent to the field. Admission to “The Rink at Wrigley Field” will be $10 for adults and $6 for children. The rink will be open for three months and scheduled to close on February 28th. Yet another great family attraction on the north side.

Friday, December 11, 2009

Kennedy Center Honorees at the White House

Thursday, December 10, 2009

New Illinois laws

There are a number of new Illinois laws soon taking effect that could impact your mobile business. Beginning January 1, drivers can no longer text while driving (with some exceptions) or use a cell phone in school speed zones or highway construction zones. License plate fees will increase along with car title fees and transfer of vehicle registration fees.

Email me and I will send you the complete new laws
drigney@ksgmac.com

Customer Appreciation Events at Oases Thank You

During the week of December 14 through 18, stop in for complimentary refreshments at an Oasis near you as we celebrate the completion of the Tollway's Rebuild & Widen Projects and the vital role you played in making it all possible. Each Oasis has one event scheduled at a specific date and time.

http://www.illinoistollway.com/portal/page?_pageid=133,2519584&_dad=portal&_schema=PORTAL

Monday, December 07, 2009

FHA Releases FAQs on New Condominium Rules

FHA released a frequently asked questions (FAQ) document on the new condominium rules. The FAQs provide some additional guidance to the rules, announced in Mortgagee Letter 2009-46A and Mortgagee Letter 2009-46B. ML 2009-46B provides the formal condominium rules, in accordance with the Housing and Economic Recovery Act of 2008 (HERA), placing condominiums under the FHA 203(b) Single Family Program. ML 2009-46A provides temporary guidance on concentration requirements, the Spot Loan Approval Process, owner-occupancy requirements, and pre-sale requirements. The new condominium rules go into effect on December 7, 2009.

Let me know if you would like the free doc.
drigney@ksgmac.com

Sunday, December 06, 2009

FDA Post Nationwide Recall of Slim Fast Drinks

All Slim-Fast-Ready-to -drink products in cans has been posted
by FDA due to the possibility of comtamination with Bacillus
cereus, a micro-organism, which may cause diarrhea and possibly
nausea and/or vomiting.

CDC Issues H1N1 Phishing Alert and Warning to Potential Victims

CDC has received reports of fraudulent emails(phishing)
referencing a CDC sponsored State Vaccination Program.

Please click on the link:
http://www.emergencyemail.org/newsemergency/anmviewer.asp?a=436&z=29

Saturday, December 05, 2009

Tax Credit Expands Home Buyer, Economic Opportunities; On Pace to Help 70% of Potential Home Buyers Read

RISMEDIA, November 19, 2009—The National Association of Home Builders (NAHB) is spreading the word to consumers about an important new law that extends and expands an attractive tax incentive for potential home buyers. The Worker, Homeownership, and Business Assistance Act of 2009, signed into law by President Obama on Nov. 6, extends the deadline for the first-time home buyer tax credit and gives a larger group of home buyers the chance to take advantage of this government program.

“The tax credit has already proven to be an effective means of boosting economic activity,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “We hope that the government’s action to enhance it will have the intended additional stimulative effect that will help get housing and the economy back on solid ground.”

The new law extends the $8,000 first-time home buyer credit through April 30, 2010, giving buyers who have signed a sales contract by that deadline until June 30 to close their deal. A new credit of up to $6,500 was created for repeat home buyers who buy a principal residence if they have been residing in the home they currently own (or previously owned) for five consecutive years out of the eight years preceding the purchase of the new home.

Thursday, December 03, 2009

10 Year anniversary of a fire at the abandoned Worcester, Mass., Cold Storage facility that claimed the lives of six firefighters

It was the worst loss of life for firefighters in a building fire in the U.S. at the time for two decades — and a day that left one fire department forever changed. Today marks the 10-year anniversary of a fire at the abandoned Worcester, Mass., Cold Storage facility that claimed the lives of six firefighters — Lt. James F. Lyons, Jeremiah Lucey, Paul A. Brotherton, Joseph T. McGuirk, Thomas E. Spencer, and Timothy P. Jackson.

Please keep them your thoughts today.

http://link.brightcove.com/services/player/bcpid1336871426?bctid=50877856001

http://link.brightcove.com/services/player/bcpid1336871426?bctid=50009263001

Wednesday, December 02, 2009

What is a Squeeze Page??

Learn Squeeze Page Traffic Secrets:

http://www.iwantafreecopy.com/r/RigneyRealty/traffic1ar.html

Do You Have A Web Site? Do you Want To Capture Leads???

Then you need a Squeeze Page.

Click On The Link Below:

http://www.iwantafreecopy.com/r/RigneyRealty/traffic1ar.html

Saturday, November 28, 2009

Chicago Dog Permit Information

WHAT IS THE PERMIT AND TAG FEE?

The permit and tag fee is a total of $5.00

HOW LONG IS A PERMIT AND TAG GOOD FOR?

Any permit and registration tag will be valid only for a single season no matter when purchased. A single season is defined as the period running from January 1st of any year through December 31st of the same year.

WILL THERE BE A SLIDING SCALE FOR SENIORS OR VISITORS?
There will not be a sliding scale. Visitors must follow the same procedures for obtaining a permit and tag.

WHERE CAN I GET A PERMIT AND TAG?

Permits and tags will only be available at participating Chicagoland veterinary offices. If you are an out-of-state resident you must also contact one of the participating Chicagoland veterinary offices to determine what paperwork is necessary to obtain the permit and tag. Most of these veterinarians will help those whose own vets are not participating. You should call them first to confirm that they will assist you and to determine how much they charge for an office visit.

WHEN CAN I GET A PERMIT AND TAG?

Permits and tags will be available at participating Chicago veterinary offices beginning February 1st, 2006.

WILL THERE BE VISITOR OR DAY PASSES

There are no visitor or day passes. Any visitor wishing to bring their pet to a Chicago Park District Dog Friendly Area must follow the same procedures for obtaining a permit and tag.

WHAT ARE THE PERMIT REQUIREMENTS?

Pursuant to regulations under the new Cook County Ordinance, dog owners must show proof of:

Current dog license issued by the City of Chicago, or proof that the dog has a current rabies vaccination.
Examination within the past year for any communicable diseases including an examination of a stool specimen for internal parasites.
Current vaccination or titer if possible for Distemper, Hepatitis, Para-influenza, Parvovirus, and Bordatella (kennel cough) unless an exemption to this requirement has been granted by the Administrator upon the written recommendation from the Owner’s veterinarian.

WHO WILL ENFORCE THE RULES AND REGULATIONS?

The Cook County Department of Animal and Rabies Control will enforce DFA rules and regulations and issue tickets to violators. Violators, along with the Chicago Park District, will face a possible fine of $500. Dog owners must carry their permits at all times when attending DFAs. Each DFA will have a sign posted at the entrance stating all DFA rules and regulations

WHAT HAPPENS IF I LOSE MY PERMIT OR TAG?

If a patron loses their dog tag or permit, they must reapply for a permit and tag for a $5.00 fee with a participating Chicagoland veterinarian.

WHY DO I NEED A PERMIT AND TAG FOR MY DOG TO ENTER A DFA?

Pursuant to a regulation issued by the Administrator of the Cook County Department of Animal and Rabies Control, all dogs entering a DFA must have a permit and registration tag from a licensed veterinarian. People bring dogs into a Chicago Park District DFA must have both a permit with them and a registration tag for each dog. The registration tag must be on the dog’s collar or harness. The permit and registration tag may be used at any officially sanctioned Chicago Park District DFA.

Source: Chicago Park District

Dog Friendly Locations in Chicago Land

Belmont Harbor – Belmont & Lake Shore Drive

Challenger Park—1101 W. Irving Park Rd.

Churchill Park—1825 N. Damen

Coliseum Park—14th & Wabash

Grant Park—Columbus Drive & 9th Street

Hamlin Park—3035 N. Hoyne

Margate Park—4921 N. Marine Dr.

Montrose Beach—Wilson Street & the Lake

Park No. 511 – 630 N. Kingsbury

Park No. 546 – 450 E. Benton Place

Park No. 551 – 353 N. DesPlaines

River Park – 5100 N. Francisco Ave.

Walsh Park—1722 N. Ashland

Wicker Park—1425 N. Damen

Wiggly Field—2645 N. Sheffield

Source: Chicago Park District

Friday, November 27, 2009

Huh? 31.95% DON'T know what a "Squeeze Page" is?

Recently, James Grandstaff revealed something
that I found quite interesting...

If you've been around the IM (internet marketing) scene for awhile, you've most likely heard the term "squeeze page" before, right?

At least that's what I thought.

Well, James surveyed approx. 500 people on his list who are interested in making money online. Many stated they were interested in affiliate marketing, product creation, MLM, etc...

One of the questions was "Do you know what a
"Squeeze Page" is?"

68.05% answered yes and 31.95% answered NO.

To be honest...

I was shocked that 31.95% said no.

What about you?

In light of this shocking survey data I decided to
write this post today to go over the very basics
of what a squeeze page is and why you should
be using them in your business (if you are not
already.)

And for those of you who already use them, pay
attention. You will probably learn something too.

Here goes...

A squeeze page which is also known as a "lead
capture page" or "name squeeze page" is a simple
web page with one purpose; to get your visitor
to give you their name and email address so you
can follow-up with them. That's it.

One of the best ways to get someone to opt-in
to your squeeze page is by offering something
of high perceived value such as a mini ecourse
or a highly targeted eBook.

For example, let's say you are promoting a multi-
level marketing business opportunity. The products
are great and you are a raving fan.

Most people would just start promoting the website
the company supplies. I say no. This is a perfect
opportunity to implement the use of a squeeze page and offer something of value first.

That way, you collect the leads, you follow-up with
an introduction of yourself and begin building a
long lasting business relationship.

In sales, what we are really selling is "us" first,
then the product.

You always want to provide value first. Once your
prospects warm up to you, then it's time to ask the
right questions to determine if your product or
business opportunity can help solve their needs.

If you'd like to see a high quality, high converting
squeeze page that James has put together, you
can visit the link below.

It's important to read the "thank you" page on the
other side you can get an idea of how the whole
process works.

http://iwantafreecopy.com/r/RigneyRealty/rich1a.html

Until next time...

Yours in success,

David

99 Ways to Skin a Cat by David Rigney

It seems like everybody has their own theory on how to survive the recession. Just some of the kind of stuff you’ll see across the internet and blogosphere is advice like:

1. Protect your job
2. Move while others are distracted
3. Earn extra money
4. Evaluate your mortgage
5. Refinance high interest credit cards
6. Reduce spending
7. Haggle your way to savings
8. Conserve and reduce your energy bills
9. Avoid taking on any unnecessary debts

I really could go on to reach 99 just to represent the saying, “99 ways to skin a cat”. But I won’t waste your time. I know you can Google it for yourself and find hundreds more advice from every Tom, Dick and Harry out there.

So let me get straight to the point.

With so many ways and advice, how come not everyone gets rich? How come not everyone who reduces their spending get rich? How come not everyone who has an education get rich? How come not everyone who starts a business get rich?

Because it’s not about what you do, it’s about how you do it. Cause while there are 99 ways to skin a cat, if you don’t do it RIGHT — whichever method you have chosen — it won’t bring RESULTS.

So what is the ONE right thing that you need to do to get rich?

Bob Proctor knows. And he wants to tell you that there is a science — a formula — to get rich. It’s about doing certain things in a certain way. And this blueprint has been proven to make anyone get rich across centuries.

So before you waste your time trying out 99 ways blindly, get this one formula that will transform your financial future.

To learn more about the Science of Getting Rich – go to http://fire1612.thesgr.hop.clickbank.net/?

Wednesday, November 25, 2009

For 2009 Home Purchases

The American Recovery and Reinvestment Act of 2009 expanded the first-time homebuyer credit by increasing the credit amount to $8,000 for purchases made in 2009 before Dec. 1. However, the new Worker, Homeownership and Business Assistance Act of 2009 has extended the deadline. Now, taxpayers who have a binding contract to purchase a home before May 1, 2010, are eligible for the credit. Buyers must close on the home before July 1, 2010. [Added Nov. 12, 2009]

For home purchased in 2009, the credit does not have to be paid back unless the home ceases to be the taxpayer's main residence within a three-year period following the purchase.

First-time homebuyers who purchase a home in 2009 can claim the credit on either a 2008 tax return, due April 15, 2009, or a 2009 tax return, due April 15, 2010. The credit may not be claimed before the closing date. But, if the closing occurs after April 15, 2009, a taxpayer can still claim it on a 2008 tax return by requesting an extension of time to file or by filing an amended return. News release 2009-27 has more information on these options.

For 2008 Home Purchases

The Housing and Economic Recovery Act of 2008 established a tax credit for first-time homebuyers that can be worth up to $7,500. For homes purchased in 2008, the credit is similar to a no-interest loan and must be repaid in 15 equal, annual installments beginning with the 2010 income tax year.

10 Important Facts about the Extended First-Time Homebuyer Credit

If you are in the market for a new home, you may still be able to claim the First-Time Homebuyer Credit. Congress recently passed The Worker, Homeownership and Business Assistance Act Of 2009, extending the First-Time Homebuyer Credit and expanding who qualifies.

Here are the top 10 things the IRS wants you to know about the expanded credit and the qualifications you must meet in order to qualify for it.

You must buy – or enter into a binding contract to buy a principal residence – on or before April 30, 2010.
If you enter into a binding contract by April 30, 2010 you must close on the home on or before June 30, 2010.
For qualifying purchases in 2010, you will have the option of claiming the credit on either your 2009 or 2010 return.
A long-time resident of the same home can now qualify for a reduced credit. You can qualify for the credit if you’ve lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the new home is purchased and the settlement date is after November 6, 2009.
The maximum credit for long-time residents is $6,500. However, married individuals filing separately are limited to $3,250.
People with higher incomes can now qualify for the credit. The new law raises the income limits for homes purchased after November 6, 2009. The full credit is available to taxpayers with modified adjusted gross incomes up to $125,000, or $225,000 for joint filers.
The IRS will issue a December 2009 revision of Form 5405 to claim this credit. The December 2009 form must be used for homes purchased after November 6, 2009 – whether the credit is claimed for 2008 or for 2009 – and for all home purchases that are claimed on 2009 returns.
No credit is available if the purchase price of the home exceeds $800,000.
The purchaser must be at least 18 years old on the date of purchase. For a married couple, only one spouse must meet this age requirement.
A dependent is not eligible to claim the credit.

Tuesday, November 24, 2009

Recovery Act Projects Map

This map allows you see where and how the United States Department of Agriculture, United States Department of Housing and Urban Development and United States Department of Commerce projects funded by the American Recovery and Reinvestment Act of 2009 are putting Americans back to work and rejuvenating the nation's ailing economy.

USDA - Map

Monday, November 23, 2009

Pent-Up Demand and Tax Credit Drive October Home Sales Rally Sales Up 24.2% Statewide and 33.3% in Chicago Region

Like holiday shoppers in search of a good bargain, first-time home buyers were out in force last month, scooping up homes to grab a federal tax credit that was to have expired Nov. 30.

As a result, sales of existing single-family homes and condos in October were extraordinary, rising 33.3 percent from the same month last year, to 7,286 homes sold in the Chicago area. And they got those homes at a deal -- the median price in the Chicago area last month was $190,000, down 15.6 percent from October 2008's $225,000, the Illinois Association of Realtors said Monday.

Friday, November 20, 2009

Making the Transition from Renting to Buying

Here are a few points to consider as you weigh the pros and cons of home ownership.

No doubt you've thought of how nice it would be not to write a rent check every month, but have you done the math? Nothing can make you feel more secure than owning your own house, unless buying a home will create financial problems of its own. Here's a discussion of the most important financial costs associated with home buying to stack up against your monthly rent check.

Instead of the standard deduction on your income tax return, most homeowners itemize their deductions, allowing them to deduct the following (and save on taxes): home mortgage interest, property real estate taxes, state income taxes, gifts to charity, medical and dental expenses over 7.5% of your income, personal property taxes, and most moving expenses.

Figure your monthly payments if you were to buy. Compare your monthly rent to a calculation of the following: purchase price and down payment of your home, your annual income (and debt!), property tax rate, home insurance rate, interest rate and length of loan. For best results, contact a home-buying specialist.

Other costs
Expect other costs to homeowning. Along with your monthly mortgage and down payment, there's property tax and homeowners insurance premiums, and fees known as "closing costs." These include everything from a credit check to "points"- interest paid up-front in return for a lower interest rate. Others: title insurance fee, survey charge, attorney/escrow fees, and loan origination. So do your research!

Long-term equity
No discussion of home ownership is complete without considering the long-term benefits of owning. What your house will be worth when you sell depends on the state of your mortgage and the housing market, in particular. Consult with real estate professionals, read up, and do your math to get a realistic sense of your future home value.

Lifestyle and mobility
Mobility is part of renting. Freedom to take the next job or move for a relationship is easy to come by when you rent a home. And when you do move, there's often more choice of specific location, and price, when you seek rental housing. Want an apartment near a park in western Philadelphia? You may find an easier time looking to rent than buy.

Many renters say they love knowing they're not tied down - and don't have to assume financial responsibility for their living space. This is of course a big difference from home ownership: who does the work.

Who does the work
While you don't receive the joys of making a place truly "your own," you do have limited costs in renting. Landlords are responsible for general upkeep and safety, allowing you to focus on the fine points. Homeowning, in contrast, puts you in the driver's seat. You shoulder the expenses and reap the rewards of home improvement - both great and small. Think about whether you want to put in additional time and money.

Choices, choices
Whether you decide to take the step of home ownership is a personal choice with its own ups and downs. Hopefully we've helped dust off the magic ball a bit; what you see in your future is up to you!

How a REALTOR® Can Help You

A real estate agent can help you understand everything you need to know about the buying process.

The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity. If you give a real estate agent some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders -- banks and mortgage companies -- offer limited choices.

Looking
Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. This is the time to choose a real estate licensee. When picking a real estate agent look for one who is also a REALTOR®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS®, a real estate trade association, and all members agree to abide by a 17 article Code of Ethics. A REALTOR® has many resources to assist you in your search. Sometimes the property you are seeking is available but not actively advertised in the market. It will take some investigation by your agent to find all available properties.

Choosing a property
Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. Your real estate agent can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

Negotiating
There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

Due diligence
With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your agent can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your agent, title company or attorney can help you resolve issues that might cause problems at a later date.

Financing
As soon as you are reasonably sure the property is right for you, the process of obtaining financing begins. Your agent can help you in understanding different financing options and in identifying qualified lenders.

Closing or settlement
Finally, there is the closing, or settlement, as it is known in different parts of the country. Every area has its own unique customs. In some areas, the title or escrow company will handle this process. In other parts of the country, an attorney does it all. Again, your real estate agent can guide you through this process and make sure everything flows together smoothly.

Why use a REALTOR®?
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS®

are properly called REALTORS®. They proudly display the REALTOR "®" logo on their business cards or other marketing and sales literature. REALTORS® are committed to treat all parties in a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a high level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR® again.

You be the judge
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®!

Thursday, November 19, 2009

Reverse Mortgage Questions Answerd

A Reverse Mortgage can offers immense advantages to the right borrowers. However, since it is a heavily regulated product to safeguard seniors, that can sometimes make it harder to understand. We'd like to announce our original and easy to understand visual to help you get started on the right track.

Need A DOG? Dairyland Greyhound Racetrack in Kenosha, Wisconsin will be closing on December 31, 2009.

900 Greyhounds will need to be adopted otherwise they will be euthanized, now is a great time to consider adopting a Greyhound. They are very loving and laid back. They don’t need the space people think they need. They are great for an active family because they have been crated almost all their lives and they sleep about 18 out of the 24 hours a day. They are just looking for someone to love them and supply them with a warm bed!!!! They test the dogs to see if they are cat friendly and or small dog friendly. They also know if a dog should be a single dog or if they would be great in a 2, 3, or 4 dog house!!! Please help me get the word out; we only have 6 weeks to get this task done.

Contact: Joanne Kehoe Operations DirectorP: 312.559.0887 Or Dairyland Race Track Adoption Center direct at (262) 612-8256

Wednesday, November 18, 2009

USING THE FIRST-TIME HOME BUYER TAX CREDIT AS DOWN PAYMENT ON A FHA-INSURED MORTGAGE

On May 29, 2009, the U.S. Department of Housing and Urban Development (HUD) announced a program that allows borrowers to use the first-time home buyer tax credit for a down payment or closing costs on a FHA-insured mortgage. Since the announcement NAR has received many inquiries from our members regarding how this impacts first-time homebuyers in their state.

Who Qualifies for the Extended Credit For Buying A Home?

First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.

Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

"On the Outlook for the Economy and Policy"

Chairman Ben S. Bernanke At the Economic Club of New York, New York, New York November 16, 2009.

Are Roth IRA conversions right for you?

Beginning in 2010, investors converting assets from a traditional IRA to a Roth IRA are no longer limited by a $100,000 modified adjusted gross income cap. So now that you can convert, the new question becomes should you convert. The answer depends on a large number of variables, some of which require some educated guesses about the future of the tax system and your own situation.

@ Bradenton Herald Posted: 11/17/09 at 0320 EST

Tuesday, November 10, 2009

Here are some basics to know about the new tax credit.

First-time buyers who have not had interest in a principal residence for three years are still eligible, and the maximum amount remains the same – $8,000 (or $4,000 for married couples filing separately).
Current homeowners, who have consecutively maintained the home they want to sell as their primary residence for five of the last eight years, are also eligible. However, the maximum amount for those homeowners is lower: $6,500 (or $3,250 for married couples filing separately).
Qualifying buyers must sign a purchase agreement by April 30, 2010, and close before July 1.
The tax credit may not be used to purchase a home for more than $800,000. Vacation homes are ineligible.
The income limits to earn the maximum for both tax credits have been raised to $125,000 for single buyers and $225,000 for married couples.
All buyers who want to get the credit must include documentation of the purchase on their tax returns.
The credit is extended for through June 30, 2011, for members of the military serving outside the United States for at least 90 days.

President Obama signs tax credit extension/expansion

President Obama has approved the extension and expansion of the federal homebuyer tax credit. The measure is part of H.R. 3548, the Unemployment Compensation Extension Act. Under the bill, the deadline for the first-time buyer tax credit of up to $8,000 would be extended through April 30, 2010. Buyers would need to have a contract to purchase in place by April 30 and would have until July 1, 2010 to close. The credit also would be expanded to provide up to a $6,500 tax credit for qualifying prospective buyers who already own their home and who have lived in it as their principal residence consecutively for five of the last eight years. Eligible income limits would be increased and homes costing more than $800,000 would not be eligible for the credits.

Friday, November 06, 2009

White Sox decline option on Jermaine Dye

By Mark Gonzales

The White Sox declined to pick up right fielder Jermaine Dye's $12 million option for 2010 and will give him a $950,000 buyout.

Dye is expected to file for free agency later Friday. He was unavailable for comment.

Dye, 35, hit 164 home runs during his five seasons with the Sox and was the 2005 World Series most valuable player. But he batted .179 with only seven home runs in the second half of the 2009 season.

He batted .278 with 461 RBIs during his tenure with the Sox, and his 164 home runs rank seventh in franchise history. He finished the 2009 season with a .250 batting average, 27 home runs and 81 RBIs.

T.R. Sullivan, mlb.com's Rangers reporter, writes Texas might be interested in Dye.

Thursday, November 05, 2009

Tollway Building Green

Since the 2005 launch of the $6.3 billion Congestion-Relief Program – Open Roads for a Faster Future – the Tollway has been reducing, recycling and reusing roadway materials across 120 miles of construction systemwide. Highlights include:

Recycling 100 percent of the old roadway pavement, more than 5 million tons, enough to fill Soldier Field three times.
Reusing about 230,000 scrap tires in asphalt mixes for new roadway shoulders and pavement.
Reducing dependency on new materials, saving nearly 4 million barrels of petroleum-based liquid asphalt.
"Building Green" has helped the Tollway minimize the environmental impact of new roadway construction by cutting consumption of new materials and decreasing the amount of scrap material disposed of in landfills. In addition it offers the benefit of cost savings by reducing the volume of new construction material purchases and eliminating the need to truck material off and onto construction sites.

The House has voted to extend and expand the tax credit.

The extension and expansion of the homebuyer tax credit is the pending business in the Senate. After a long week of negotiation on the credit, an agreement on the scope of both expansion and extension has been reached. The extension is part of a larger bill that has not yet gone to a vote, however. A Senate vote on the underlying bill will occur in the Senate during the week of November 1. The package will then go back to the House. The House is expected to accept the Senate amendments, vote on the package and send it to the President for signature. The underlying bill is an extension of unemployment benefits. Other provisions in the bill include expansion of the net operating loss carryback rules, new requirements for some tax return preparers and noncontroversial provisions that "pay for" these changes.

The agreement on the extension and expansion of the credit is as follows:

Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
New anti-fraud limitations are imposed.

The White House has indicated that President Obama will sign the legislation.

Senate Clears Homebuyer Tax Credit Extension

The homebuyer tax credit, due to expire at the end of November would be extended through April 30 of next year. First-time buyers who are in the process of making a purchase would not need to worry about qualifying for the $8,000 credit if they close after the November 30 deadline.
For the first time, the legislation that was recently cleared makes move-up buyers as well as first-time buyers eligible for a credit. The $8,000 maximum first-timer credit will continue and will now be available to couples with income up to $225,000, a nearly $55,000 increase above the level in existing law. A new $6,500 maximum credit would also be available to move-up homeowners who have lived in their current residence for five of the prior eight years.

Sunday, November 01, 2009

Did You Change Your Batteries In Your Smoke Detector When You Changed Your Clocks??

Here's NFPA's Sharon Gamache discusses, in the following YouTube video, the latest information on types of smoke alarms you need, their placement and special features. Working smoke alarms give you early warning to help you escape a fire.

Saturday, October 24, 2009

Illinois Home Sales Show First Increase in Over Three Years

SPRINGFIELD, Ill., Oct. 23 /PRNewswire-USNewswire/ -- Statewide Illinois home sales

increased year-over-year in the month of September for the first time since March 2006

with first-time buyers driving the rebound in sales. According to the Illinois

Association of REALTORS'(R) latest report, statewide total home sales (which

include single-family and condominiums) in September 2009 reached 10,350 homes sold,

up 3.3 percent from September 2008 sales of 10,018. The Illinois median price in

September 2009 was $160,000 down 9.3 percent from $176,450 in September 2008.

The median is a typical market price where half the homes sold for more, half sold

for less.

Friday, October 23, 2009

Contact Your Congress Person To Extent Buyers Tax Credit

Yesterday, Ron Phipps, First Vice President at the National Association of Realtors (NAR) stood in front of the Senate Banking, Housing and Urban Affairs Committee urging them to extend the buyer tax credit. According to the NAR website, Phipps was quoted as saying,
“The data on the present home buyer tax credit show that the credit has had its intended impact—sales have jumped in recent months to a projected 5.1 million for the year and housing inventory has been trimmed, thus stabilizing home prices noticeably.” He also pointed out that each home sale generates approximately $63,000 in additional economic activity, providing a tremendous economic boost to the national economy. “But it is a fragile recovery, and now is the time to build on home sales momentum by extending the tax credit throughout 2010 and expanding it to all home buyers,” he said. “The present credit, due to expire on November 30, cannot help new purchasers now who write a contract today—they won’t be able to close before the deadline, and will lose out on the credit. Without congressional action now, the market and our national economy may freeze again—possibly as soon as this month.”
If you are an advocate of extending the credit, click on the following link, you can quickly notify your local Congressman of your opinion:
http://takeaction.realtoractioncenter.com/campaign/hbtc?qp_source=dotorg

Thursday, October 22, 2009

Expanding Green Jobs And Energy Savings For Middle Class Families

WASHINGTON, D.C. - Vice President Biden today unveiled Recovery Through Retrofit, a report that builds on the foundation laid in the Recovery Act to expand green job opportunities and boost energy savings by making homes more energy efficient. Joining the Vice President today were Nancy Sutley, Chair of the White House Council on Environmental Quality; Steven Chu, Secretary of Energy; Hilda Solis, Secretary of Labor; Shaun Donovan, Secretary of Housing and Urban Development; and Karen Mills, Administrator of the Small Business Administration.

Initiative for state and local housing finance agencies HFA

WASHINGTON - As part of its comprehensive plan to stabilize the U.S. housing market, the Obama Administration today announced a new initiative for state and local housing finance agencies (HFAs) that will help support low mortgage rates and expand resources for low and middle income borrowers to purchase or rent homes that are affordable over the long term. Following up on the intent to support HFAs first outlined in February under the Homeowner Affordability and Stability Plan, the Administration's initiative has two parts: a new bond purchase program to support new lending by HFAs and a temporary credit and liquidity program to improve the access of HFAs to liquidity for outstanding HFA bonds.

Wednesday, October 21, 2009

2009 Flu Prevention H1N1

H1N1 What You Need To Know; Be Careful And Make Your Decision With Caution.

Friday, October 16, 2009

HUD takes action to expand jobs and training opportunities for low-income residents

WASHINGTON - The U.S. Department of Housing and Urban Development today launched a new campaign to increase hiring of low-income individuals and public housing residents by state and local governments that receive HUD funds. HUD is contacting more than 3,000 state and local agencies, including public housing authorities, to document their efforts to hire low-income individuals and to contract with companies who hire them. Agencies that fail to comply may be debarred, suspended, or denied participation in HUD programs.

Tuesday, October 13, 2009

The Quantum Physics Reality

You see all matter is composed of these tiny electrons or particles. These particles are everywhere - they are the building blocks of all matter. They are the foundation to your physical body, the house you live in, the cars you drive and the money in your bank account.

Our entire reality is filled with these tiny particles. And these particles respond to the way we observe them. We literally influence the cosmic waves of matter simply by observing. Or in other words, our observation of reality is what creates our reality. This idea has some huge implications and it begs the old question:

“If a tree falls in the forest and nobody is around to hear it, does it make a sound?”

According the conclusions of the double-slit experiment, it does not. The tree can only make a sound if it is observed. If you don’t pay attention to it, it did not happen.

Saturday, October 10, 2009

Biggert pushes to extend first-time buyer tax credit

U.S. Representative Judy Biggert (R-IL-13th) has introduced legislation that would extend the existing first-time homebuyer tax credit for six months as well as a second bill that would extend the tax credit for a full year, expand it to include those who aren't first-time buyers and increase the maximum amount of the credit to $15,000.

Read Rep. Biggert's news release to learn more about the pending federal legislation.
http://judybiggert.house.gov/NewsRoom.aspx?FormMode=Detail&ID=1085

Tax Credit Impact in Illinois:
http://www.illinoisrealtor.org/files/Government%20Affairts/Illinois%20Impact%20Tax%20Credit.pdf

Thursday, October 08, 2009

Overview of the Recovery Act of 2009

The American Recovery and Reinvestment Act of 2009 Web Site(Recovery Act) was signed into law by President Obama on February 17th, 2009.

It is an unprecedented effort to jumpstart our economy, create or save millions of jobs, and put a down payment on addressing long-neglected challenges so our country can thrive in the 21st century. The Act is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure, enhance energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need.

Obama Administration releases new data on Making Home Affordable program, achieves key milestone weeks ahead of schedule

WASHINGTON - Today, almost one month ahead of a November 1 benchmark set earlier this year, the U.S. Department of the Treasury and U.S. Department of Housing and Urban Development (HUD) announced a new milestone of more than 500,000 trial loan modifications in progress under the Making Home Affordable program.

O’HARE NOISE COMPATIBILITY INFORMATION

The O’Hare Noise Compatibility Commission has a
membership that includes 27 municipalities and over
40 communities surrounding O’Hare.
ONCC operates three standing committees: the
Residential Sound Insulation, the School Sound
Insulation and the Technical Committee.
The two sound insulation committees oversee
the very successful noise mitigation programs, some
of the largest in the nation.

Website: www.oharenoise.org

Wednesday, October 07, 2009

30-YEAR FIXED-RATE MORTGAGE LOWEST IN FOUR MONTHS, NEARING ALL-TIME LOW SET IN SURVEY IN APRIL

5-Year Fixed Mortgage Rates Are The Lowest Since Freddie Mac Records Began In 1991; 5-Year ARM Rates Also Hits Record Low

Daily Lane Closures

Plan Ahead – Know the Road

Daily lane closures are posted every day so that drivers can know what to expect ahead of time. The Daily Lane Closure Report (pdf) lists temporary lane and shoulder closures and long term closures by roadway. All closures are subject to weather conditions.

I-PASS Holders Take Simple Steps Today to Avoid Future Violations

October 2009

In This Issue…

I-PASS Users and Violations:
Learn how to avoid and clear up violations.

Ohio Turnpike Accepts
I-PASS/E-ZPass
If you are traveling through Ohio all plazas now accept
I-PASS/E-ZPass.

Fall Construction:
New traffic pattern
on I-88.

High-income taxpayers can start to tap into Roth IRAs in 2010

In 2006, President Bush signed the Tax Increase Prevention and Reconciliation Act into law. Starting in 2010, a specific provision in the law allows anyone to convert a traditional IRA to a Roth IRA regardless of their income level. In addition, if you make a conversion in 2010, for tax purposes, you’ll be able to report half the income from the conversion on your 2011 tax return and the other half on your 2012 return.
@ Bradenton Herald | Posted: 10/06/09 at 0419 EDST

Tuesday, October 06, 2009

High-Speed Rail projects

As part of the Federal Stimulus legislation, Illinois is competing for over $2 Billion in funds designed for High-Speed Rail projects. The proposal would connect St. Louis to Chicago, but would have a devastating impact on Springfield.

Tax increase - Partnerships & LLCs

Please contact your legislator and ask them to REPEAL this TAX INCREASE!

In the flurry of legislative activity just prior to the conclusion of the spring session of the Illinois General Assembly an amendment was adopted to the Illinois Income Tax Act. That amendment was included in Senate Bill 1912 which was considered by the General Assembly and signed into law by the Governor in a single day - the last day of the extended spring session (July 15th). This 273 page bill contained various budget related provisions and was titled the “Emergency Budget Implementation Act of Fiscal Year 2010”. The amendment to the Illinois Income Tax Act has the impact of increasing the state income tax on personal service income earned by service providers through a partnership or limited liability company.

Fire Prevention Week October 5-10

Fast facts about fire:

http://www.nfpa.org/itemDetail.asp?categoryID=1203&itemID=28255&URL=Safety%20Information/Fire%20Prevention%20Week%202009/Fast%20facts%20about%20fire

Smoke Alarm Saves Woman and 5-Year-Old - Action 3 News - Omaha, Nebraska News, Weather, and Sports | - http://www.action3news.com/Global/story.asp?S=11255413

Visit www.nfpa.org/firepreventionweek for the complete selection of Fire Prevention Week products and order at your convenience 24/7.

Visit Red Robin During
NATIONAL FIRE PREVENTION WEEK
October 5-10, 2009

Get a FREE Fire Prevention Activity Book when you purchase a Kid's Meal!

For every Kid's Meal sold from October 5-10, Red Robin will donate 50¢ to the National Fire Safety Council, Inc.

Sunday, October 04, 2009

Brazil to privatize Rio airport to prepare for 2016 Olympics

RIO DE JANEIRO, (RIA Novosti) - The international airport in Brazil's largest city, Rio de Janeiro, which won the bid to host the 2016 Summer Olympic Games, will be privatized and modernized to prepare for the Olympics, the authorities said.
Rio, which faced stiff competition from Chicago, Madrid and Tokyo, became the first South American city on Friday to be awarded the games.
Rio de Janeiro's Galeao international airport, the largest airport in Brazil, evoked the strongest criticism from members of the International Olympic Committee at the stage of Rio's preparations for the 2016 Olympic bidding, the State Privatization Council said.
The terms and the exact date of the airport's privatization would be determined later, the council said.
The issue of the airport's privatization was first raised a year ago by the governor of the state of Rio de Janeiro, Sergio Cabral, who said that the need to sell the airport was conditioned by its unsatisfactory infrastructure, poor airport services and ineffective management.

Thursday, October 01, 2009

Housing Market Update

Wednesday, September 30, 2009

Foreclosure blight: The cleanup crawls along

Washington put up billions to save blighted areas by buying abandoned homes. But states and cities are having trouble getting properties away from banks.

Latest Update On The Housing Market September 2009

Thursday, September 24, 2009

California SB 306 law/Short Sale Law

1) Once a short sale offer is submitted the lender would have 21 days to accept, reject or deny the offer. Understand, this means that the short sale package has to be submitted correctly…and completely.

2) A Short Sale offer is submitted WITH a HUD the lenders/ servicers have 4 days to reply to the offer.

3) The lender will have to submit all responses IN WRITING.

Bottom line, Short Sales (in California) are about to get way easier and close faster and hopefully it spreads to the rest of the U.S.

http://www.sandiegolifestyle.info/2009/09/sb-306-senator-calderons-omnibus-mortgage-legislation-signed/

As the markets slowly burn off the Foreclosures

Interesting points:

1) Up to 7,000,000 homes in ‘Shadow Inventory’

2) Most sales in the U.S. were for homes less than $250,000.

3) This is the ‘new normal’…this market, where Foreclosures and Short Sales dominate the sales.

4) Home price appreciation is a thing of the past for the next 5-10 years as the markets slowly burn off the REOs etc.

Wednesday, September 23, 2009

2009 Flu Prevention PSA Contest

On July 9th of this year, HHS Secretary Kathleen Sebelius announced a video PSA contest on flu prevention. Americans were called to create a 15, 30, or 60 second video promoting good hygienic practices and submit this video over YouTube. This video was to inform people about the flu and motivate them to take steps that help prevent the spread of the flu. The winner received $2500 in cash and is featured on national television. Congratulations to Dr. John Clarke of Baldwin, New York for his video entitled H1N1 Rap by Dr. Clarke.

Urges Congress To Extend TAX Credit

Please call your congress person or write to extended the Tax Credit for firsttime home buyers.

http://link.brightcove.com/services/player/bcpid31763633001?bclid=31792087001&bctid=41665553001

CNBC takes you inside the controversial powerhouse Walmart.

What do you think of Walmart???

See what's next for Walmart, Tonight 9p ET

Wednesday, September 16, 2009

National Real Estate Industry Update

Economic indicators including industrial production and manufacturing activity are turning positive, and the housing market is slowly improving. For the first time in five years, existing-home sales have increased for four months in a row, according to the latest survey by the National Association of Realtors®. July sales rose 7.2 percent over the previous month, and, in fact, increased 5 percent over July 2008 sales: The first monthly year-over-year increase since November 2005.

Do I qualify for assistance?

Answer a few questions to determine what programs are available to help you avoid foreclosure and how you may be able to benefit from Program 3648.

Friday, September 11, 2009

The American Recovery and Reinvestment Act of 2009: Information Center

The IRS is implementing the tax-related provisions of the American Recovery and Reinvestment Act of 2009 (ARRA) as quickly as possible. More information on these and other provisions of the recovery program will be available on this Web site as it becomes available.

IRS On Youtube:
http://www.youtube.com/irsvideos

Thursday, September 10, 2009

What Happens when Engineers Own Dogs

Home Affordability Drives Buyers Into Real Estate Market

Home affordability is driving more than two-thirds (65.2 percent) of potential buyers back into today’s housing market, according to the new national REALTOR.com® Homeownership Survey. Home buyers are taking advantage of price declines and low interest rates in the most affordable market conditions in 28 years, though only one in ten of homeowners are putting off selling their home due to these factors.

Foreclosure bargains would motivate nearly one of five prospective buyers, or 19.6 percent, to purchase a home in their community. This same group also said that foreclosure bargains are the key factor in generating interest in buying in the near future.

A total of 15.5 percent of respondents said they are particularly motivated to buy soon because they think prices aren’t going to drop any lower. Additionally, a separate group of 15.5 percent want to buy now before interest rates rise. The $8,000 first-time home buyer tax credit is also motivating 14.6 percent of first-time buyers to buy a home in the future.

Though affordability is driving sales today, most Americans actually aren’t aware of how affordable homes are right now. A total of 76.4 percent of participants said that a median income family can afford only 50 percent or fewer of the homes for sale in their area. The fact is, a family earning the national median income can afford almost 75 percent of the current homes for sale on Realtor.com.

The survey also found that 87 percent of Americans are paying more (44.7 percent) or the same amount of attention (42.3 percent) to home values compared to a year ago.

The Realtor.com survey is based on 1,004 interviews conducted from June 19-21, 2009 by Omnitel, a weekly national telephone omnibus service of GfK Custom Research North America.

Don’t Miss the $8,000 Home Buyer Tax Credit Deadline

The deadline to qualify for the $8,000 first-time home buyer tax credit is fast approaching. There are only 12 weeks left to beat the clock by finding and closing on a property before the Nov. 30 deadline.

The $8,000 tax credit has proven to be extremely popular. Indeed, a total of 10.8 percent of buyers today say that this and relevant state incentives is the most important reason motivating them to buy, according to REALTOR.com®’s July Homeownership Survey. Already, about 1.14 million buyers have filed for the $8,000 first-time tax credit. A host of additional buyers will likely file paperwork to qualify for the credit come tax time in 2010 as well.

A key driver for first-time home buyers today is the high affordability of properties throughout the country. In July, the National Association of REALTOR®’s (NAR’s) affordability index was 36 percent higher than in July 2008. The typical median-income family can use 15.8 percent of their gross income for mortgage payments, which is significantly less than the traditional allocation of 25 percent. In addition to high affordability, low interest rates are another driver to buy. In July, rates were at 5.22 percent for a 30-year fixed rate loan.

IRS Warns Taxpayers About TAX SCAMS

Making Work Pay - Retirees From The IRS

Seven Tax Facts About Selling Your Home

IRS Summertime Tax Tip 2009-10

During summer months, some people sell their home. Many of those individuals will make a profit on the sale and still will not have to pay a single dime of additional income tax to the IRS.

Five Facts about the Making Work Pay Tax Credit

Working taxpayers may be eligible for the Making Work Pay tax credit, a significant tax provision of the American Recovery and Reinvestment Act of 2009.

Please Stop And Pause To Remember The Day.

This time of year, our thoughts naturally gravitate toward the evil events of eight years ago that claimed the lives of over 2,993 lives. 343 FDNY fire fighters, and paramedics, 23 NYPD, and 37 Port Authority Police. People tend to forget to stop for a moment and pay their respects to those that perished that day.

On Sept. 11, 2001 America had its worst tragedy since the attacks on Pearl Harbor. 19Al Qaeda terrorists hijacked 4 commercial airliners. Two were flown into the World Trade Centers in New York city. One was crashed into the Pentagon. The fourth was crashed into a field near Shanksviile , Pa. The attacks began when the first plane hit the north tower at 8:46 A.M. The second tower was struck at 9:03 A.M. At 9:45 the third plane struck the Pentagon. At 10:10 A.M. the fourth plane crashed in a field near Shanksville, Pa. after passengers over took the terrorists. It seems as the years pass, more and more is forgotten.

Wednesday, August 26, 2009

Waukegan Grand Prix critic grinds gears with mayor

When word spread that the city is bidding to bring a motorsport race to the downtown area, Sheridan Road resident Jeff Rothbart wondered if the cart was being put before the horsepower.

Tuesday, August 25, 2009

Survey finds Realtors hopeful

About 46 percent of the nation's real estate agents think home prices will stay the same during the next six months, according to a report released Monday from California-based HomeGain.

Is Your Home WiFi Network Secured?

Do you have wireless internet access at home? Is your connection secure? Do you even know what that means? Check out the link below for a list of quick tips to make your home wi-fi secure. This information is courtesy of NAR’s Center for REALTOR Technology.

Sunday, August 23, 2009

1948 Chicago the Beautiful

Golfer Greg Norman takes novel approach with sale price

As August dwindles away, I find my notebook filling up with sightings and skirmishes from the fringes of the real estate world:

When all else fails ...

Legendary golfer Greg Norman has been having trouble selling his luxurious home on Jupiter Island, Fla., an enclave of some of the most expensive manses in the country. It was first listed for $65 million in 2007. Norman waited a while and lowered the asking price to $47.5 million.

Still no action. What to do? Well, he apparently has decided to ignore the constant drumbeat of ever-lower prices. He has raised the price, this time to $60 million, which would get you nine bedrooms spread among six structures on the eight-acre estate, not to mention a wine cellar, 50-foot pool and 370 feet of waterfront.

Friday, August 21, 2009

The world economy has stopped shrinking. That’s the end of the good news

IT HAS been deep and nasty. But the worst global recession since the 1930s may be over. Led by China, Asia’s emerging economies have revived fastest, with several expanding at annualised rates of more than 10% in the second quarter. A few big rich economies also returned to growth, albeit far more modestly, between April and June. Japan’s output rose at an annualised pace of 3.7%, and both Germany and France notched up annualised growth rates of just over 1%. In America the housing market has shown signs of stabilising, the pace of job losses is slowing and the vast majority of forecasters expect output to expand between July and September. Most economies are still a lot smaller than they were a year ago. On a quarterly basis, though, they are turning the corner....BUT

Strong Gain in Existing-Home Sales Maintains Uptrend

For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®.

August 21, 2009 - For the first time in five years, existing-home sales have increased for four months in a row, and the monthly increase is the largest in 23 years.

Lawrence Yun, NAR chief economist, said he is encouraged. “The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales,” he said.

Existing-home sales in the Midwest jumped 10.9 percent in July to a level of 1.22 million and are 8.0 percent above a year ago. The median price in the Midwest was $157,200, which is 5.9 percent less than July 2008.

Thursday, August 20, 2009

New Study Shows More Walkable Homes Are Worth More

Though housing values are still slow to rebound from the collapse of the real estate market, a new analysis from CEOs for Cities reveals that homes in more walkable neighborhoods are worth more than similar homes in less-walkable neighborhoods, pointing to a bright spot in the residential real estate market.

The PGA TOUR® FedExCup® Trophy

The PGA TOUR® FedExCup® Trophy
Handcrafted by Tiffany & Co. silversmiths
in tribute to the game of golf

Sears posts surprise loss

Sears Holding Corp. reported a surprise quarterly loss that dimmed investors' hopes that Chairman Eddie Lampert could succeed in turning around the struggling retailer

Hawks star Kane indicted in NY cabbie attack

Patrick Kane was indicted Wednesday in Buffalo, N.Y., on misdemeanor assault and theft charges after he was accused of beating up a cab driver over a fare dispute.

Financial woes of major Irish developer could flood the market with cheap properties

The beleaguered Irish property market could be flooded with cheap apartments and half built office blocks after the country's Supreme Court ruled that companies belonging to Dublin's biggest real estate developer, Liam Carroll, should be placed in liquidation. Carroll is reputed to have built more apartments in Dublin than any other developer and is also a major investor in the Irish stock market. If his business goes under it would be one of the biggest corporate failures in Irish history.

House: Let foreclosed homeowners rent

When homeowners lose their houses to foreclosure, should they be able to stay in the property, leasing it back at fair market rent from the lender? Before leaving for their August break, Democrats and Republicans in the House took a rare, unanimous stand on both questions by passing the Neighborhood Preservation Act.

Illinois Incentives/Policies for Renewables, Efficiency, & Rebate Program

DSIRE is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency.

State Incentives Web Site for Renewables & Efficiency (DSIRE)

DSIRE is a comprehensive source of information on state, local, utility, and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995, DSIRE is an ongoing project of the NC Solar Center and the Interstate Renewable Energy Council funded by the U.S. Department of Energy.

Monday, August 17, 2009

How Foreclosure Affects Your Credit Score

How Foreclosure Affects Your Credit Score

Posted using ShareThis

Friday, August 14, 2009

Beware of Foreclosure Rescue Scams - Help Is Free!

Scam artists often target homeowners who are struggling to meet their mortgage commitment or anxious to sell their homes. Recognize and avoid common scams.

Assistance from a HUD-approved housing counselor is FREE.

Beware of anyone who asks you to pay a fee in exchange for a counseling service or modification of a delinquent loan.

Beware of people who pressure you to sign papers immediately, or who try to convince you that they can “save” your home if you sign or transfer over the deed to your house.

Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

Never make a mortgage payment to anyone other than your mortgage company without their approval.

Tuesday, August 11, 2009

Making Home Affordable Program

In support of the Federal Making Home Affordable Program, Freddie Mac and Fannie Mae will offer two initiatives that will help keep more families in their homes, stabilize communities and assist homebuyers during this difficult time. Under the plan, eligible homeowners can:

Refinance your mortgage to a new, potentially lower interest rate, with additional flexibility to assist many homeowners who have previously had difficulty refinancing due to declining property values. You'll need to be current on your mortgage payments to qualify for this refinance.

Obtain a modification on your mortgage that can potentially reduce your monthly payment, or offer other alternatives that can help you keep your home. This program is for homeowners who are delinquent in their mortgage payments, in the foreclosure process, or are current on their payments but have recently experienced significant hardship. Significant hardship includes circumstances that may make it difficult for you to pay your mortgage going forward.

Wednesday, August 05, 2009

Do You Recycle???

Sunday, August 02, 2009

Appraisal Rules Challenge Real Estate Video

Real estate professionals are finding the new Home Valuation Code of Conduct a challenge as appraisal snags prevent transactions from closing. REALTOR® Magazine talks with NAR government Affairs about the issues.

Friday, July 31, 2009

IRS Warns Taxpayers to Beware of First-Time Homebuyer Credit Fraud

The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme.

On Thursday July 23, 2009, a Jacksonville, Fla., tax preparer, James Otto Price III, pled guilty to falsely claiming the first-time homebuyer credit on a client’s federal tax return. Price faces the possibility of up to three years in jail, a fine of as much as $250,000, or both.

To date, the IRS has executed seven search warrants and currently has 24 open criminal investigations in pursuit of potential instances of fraud involving the credit. The agency has a number of sophisticated computer screening tools to quickly identify returns that may contain fraudulent claims for the first-time homebuyer credit.

Full details and instructions are available on the official IRS Web site, IRS.gov. See: http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Federal clunker program on hold

Federal clunker program on hold. Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent. But dealers raised concerns about large backlogs in the processing of the deals in the government system, prompting the suspension. A survey of 2,000 dealers by the National Automobile Dealers Association found about 25,000 deals had yet to be approved by NHTSA, or nearly 13 trades for each store.

Thursday, July 30, 2009

The Truth about Cell Phones and the Do Not Call Registry

The truth about cell phones and the DNC Registry is:

•Contrary to the e-mail, cell phone numbers are NOT being released to telemarketers, and you will NOT soon be getting telemarketing calls on your cell phone.

•There is NO deadline by which you must register your cell phone number on the Registry.

•Federal Communications Commission (FCC) regulations prohibit telemarketers from using automated dialers to call cell phone numbers. Automated dialers are standard in the industry, so most telemarketers are barred from calling consumers on their cell phones without their consent.

•The national associations representing telemarketers have stated that their clients do not intend to start calling consumers’ cell phones.

•There is only ONE DNC Registry. There is no separate registry for cell phones.

•The DNC Registry accepts registrations from both cell phones and land lines. You must call from the phone number that you want to register. If you register online, you must respond to a confirmation e-mail.

•While the telecommunications industry has been discussing the possibility of creating a wireless 411 directory, according to the FCC, even if a wireless 411 directory is established, most telemarketing calls to cell phones would still be illegal, regardless of whether the number is listed on the federal government’s National Do Not Call Registry.

For More Information
To learn more about the National DNC Registry and the rules that enforce it, visit the FTC at www.ftc.gov or the FCC at www.fcc.gov. For more information about a planned “wireless 411” directory, visit http://www.iq411.com/wireless411/index.shtml.

HUD Secretary Donovan announces new FHA-Making Home Affordable loan modification guidelines

WASHINGTON - U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced the Federal Housing Administration (FHA) has implemented changes to its loan modification program to ensure consistency with the Obama Administration's Home Affordable Modification Program. By August 15, FHA borrowers will be able to significantly reduce their monthly mortgage payments by seeking a loan modification through their current mortgage company or loan servicer under the new FHA-Home Affordable Modification Program (FHA-HAMP).

Housing Market Up, First Time In 3 Years.

Why to be optimistic about the housing market, with Robert Shiller, S&P Case-Shiller