Northwest Suburbs of Chicago Only Real Estate Info Blog

The Facts About FSBOs

2006-07-18T20:14:00.000-07:00

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A close look at "For-Sale-By-Owner" (FSBO) data from NAR's 2005 Profile of Home Buyers and Sellers

Each year a small army of home sellers throw caution to the wind and “go it alone” – without the assistance of a licensed real estate professional.

This ever-decreasing band of risk-takers, ventures into the land of pricing, marketing, screening, scheduling, showing and paperwork, with the goal of saving some money. It's often an experience they find less than rewarding. The numbers (if not the sellers) tell the story.

Last year, 13 percent of all sellers chose the FSBO (“For Sale By Owner”) route, according to NAR’s 2005 Profile of Home Buyers and Sellers. This is down from about 18 percent eight years ago. But more telling than the decline in FSBOs is the fact that more than a third of all FSBOs sold their homes to someone they knew prior to the transaction. This means that only 8 percent of all home sales are arm's-length FSBO transactions. From NAR's 2005 Profile of Home Buyers and Sellers

Only half of last year’s FSBOs say they plan to go it alone again, so expect to see these numbers go down even further in the years ahead.

Several factors appear to account for the decline in for-sale-by-owners: the increasing complexity of the transaction process, with more disclosures and legal requirement than ever before; the amount of time required to market and show property; and security concerns about the motivation of strangers dealing directly with owners and walking through their homes. And, getting back to the money part – after all is said and done, FSBOs don’t always come out with fatter wallets.

Again, the numbers tell the truth. Sellers make more money when they use a real estate professional.

Homes sold with the help of a real estate professional last year sold on average for 16 percent more than FSBO sales. The median FSBO selling price in 2005 was $198,000, compared with $230,000 for agent-assisted transactions.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Podcasting’s Impact on Real Estate

2006-07-10T05:52:00.000-07:00

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Is this new medium the next big thing or just another overhyped technology?

BY FREDERIK HELLER

The relatively new medium known as podcasting has come a long way in just a few short months. The term podcast was coined and first used in February 2004 by The Guardian newspaper, describing audio MP3 files that could be downloaded to a computer or other device (but not to be confused with MP3 music files).

Podcasts started as a kind of audio blog. Inexpensive recording software and weblogs allowed people to record and distribute their own audio programs, talking about technology, music, religion, and just about anything else under the sun. The new medium quickly caught on with technology buffs, radio stations, and amateurs, and the number of available podcasts grew exponentially.

Then last summer, Apple effectively endorsed the podcasting phenomenon by creating a podcast directory on its wildly popular iTunes online music store, helping to propel the technology into the mainstream. Now it seems that everyone from the kids next door to multinational corporations is podcasting. Teachers, real estate professionals, accountants, automobile manufacturers, and even National Public Radio and President Bush have all joined the ranks of podcasters around the world.

What Is a Podcast?

The proliferation of Apple's iPod audio player certainly has helped the podcasting trend, but despite the name, you don't need an iPod in order to listen to a podcast. A podcast is simply an audio program that listeners can subscribe to via an RSS feed. They are often, but not always, updated regularly, and can be downloaded to any computer or device capable of playing audio files — desktop computer, laptop, MP3 player, iPod, PDA, cell phone, etc.

Podcasts are often described as a kind of TiVo service for audio content. They offer a convenient way to distribute, download, and listen to all kinds of Internet audio “broadcasts,” whenever and wherever the listener chooses. Podcasts cover just about any topic, ranging from interesting and educational to downright pointless. In fact, it’s almost as easy to create a podcast as it is to download one — all you need are a microphone, recording software, and access to the Internet.

The main advantages of podcasts are their portability, convenience, and low cost. Since they are compatible with just about any device capable of playing audio files, they can be used on the go, in the office, and at home. Unlike traditional and Internet-based radio, you can listen to a podcast whenever you like, without having to schedule your listening to broadcast schedules. The vast majority of podcasts are free, although a few are beginning to require paid subscriptions.

Potential Uses and Future Trends

To help understand the potential impact of podcasting, take a quick glance at some numbers. In an April 2005 report, the Pew Internet & American Life Project found that more than 22 million people, or 11 percent of the U.S. population, owned an iPod or other MP3 player. Of those 22 million, 6 million people (29 percent) had downloaded and listened to podcasts. Those 6 million people weren't just teenagers; the Pew survey found that high percentages of baby boomers and other older generations were among those who had listened to podcasts. Men and women were equally represented among podcast listeners.

Since the Pew survey was conducted last year, much has happened in the podcast world. And the general consensus is that the technology has certainly exploded in popularity in recent months.

For the most part, podcasting is still in its early stages of development. Like blogs, Web sites, and so many other Internet-based technologies, podcasts started out as a grassroots innovation by amateurs and hobbyists and only recently began attracting the attention of the business world. Now, companies large and small are exploring ways to profit from the podcasting boom. For some, this means creating their own podcasts as a way of attracting customers and generating business. Automakers, consulting firms, and others offer informative podcasts with news, interviews, and tips, all while promoting their products and services.

Here a few other trends to watch for:

Advertising. As might be expected, the possibilities of podcast advertising are being vigorously explored. Marketing firms are beginning to buy and sell advertising space on some of the most popular podcasts, which can pull in hundreds of thousands of listeners per month. Many podcasts also are funding themselves through sponsorships, with a short audio ad promoting the sponsoring firm at the beginning of the program. There are at least 20,000 podcasts out there, according to some estimates, and most of them cater to subscribers with very specific interests, creating endless potential for niche marketing opportunities.

Search engines. Besides advertising, another interesting development to watch is that of podcast search engines. Although there are dozens of podcast directories available on the Web, and general search engines can be used to help find programs, new search engines specifically for podcasts are beginning to crop up. Podzinger and blinkx both create indexes of keywords used in podcast broadcasts, making it possible to search for terms used in an actual program. For example, a search for “real estate” in Podzinger will find recent podcasts that mention the phrase. These audio search engines can be used to locate podcasts that discuss a particular interest, and can help track programs that mention specific names, places, or companies. The technology that enables searching of audio content can only improve, and more podcast search engines can be expected to come online in the near future.

Vodcasting. If podcasting is the current big thing on the Internet, the next big thing, some analysts say, will be vodcasting. Short video-based podcasts are already available on the Web, and the number is expected to continue increasing, spurred on by the recent introduction of Apple's Video iPod and the widespread availability of digital cameras, cell phones, PDAs, and other gadgets capable of recording video. Just as podcasts are making it possible for anyone to create their own online radio station, vodcasts are predicted to do the same for television.Potential Impact on REALTORS® and the Real Estate IndustryFor members of the real estate community, podcasting can be an interesting and useful tool, whether you're considering becoming a podcaster yourself or are just content to listen to a few.

Here are some possible uses for real estate:

Marketing. A quick search for “real estate” in podcast.net, iTunes, or any other podcast directory is all it takes to prove that practitioners and home owners alike are beginning to take advantage of this new medium. Hundreds of podcasts are available covering homebuying and selling tips, market conditions in specific local areas, viewpoints of real estate and the economy, real estate investment trusts, real estate investing, and more. At least two technology providers offer services that turn property listings into podcasts. For real estate professionals, podcasting can be a low-cost method of sharing expertise and reaching customers, but it also can be time-consuming and requires imagination to create a program that will keep listeners and potential customers coming back for more.

Business. In addition to creating and using them as marketing tools, there also are plenty of podcasts that cater to the personal and professional interests of practitioners. Podcasts on local news and issues, the economy, new sales techniques, technology, cultural diversity, and countless other topics can be downloaded and listened to whenever it's convenient.
Company info. Real estate firms and local associations also can use podcasting in any number of ways. Some firms have already begun using podcasts as a way to automatically bring updates on benefits and company information to sales associates and other employees who spend most of their time working away from the office. Associations also can offer podcasts on local industry news, recordings of education sessions, and other presentations.

Advertising. Podcast advertising and vodcasting are two trends the real estate industry should keep an eye on. Sponsoring or advertising on a podcast may prove to be a great way to reach niche audiences, but keep in mind that the business models for podcast ads are still very much in their infancy. Costs, potential audience, and the podcast content and update frequency should all be carefully considered when buying ad spots in this new medium.

Innovative practitioners might consider delving into vodcasting to deliver online neighborhood tours, highlight new listings, etc. While podcasting has already taken off, whether or not vodcasting will become as popular as expected, though, remains to be seen

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Choosing the Best Contact Management System

2006-07-10T05:25:00.000-07:00

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Learn about available software offerings, including a new industry-specific version of ACT!

BY MIKE ANTONIAK

A contact management system can help you make more productive use of your time, keeping you focused on the day-to-day activities and responsibilities that build your client base and move each transaction along. Once you’ve decided that you want to use a system, the question becomes whether you’ll be better served with a generic contact manager or one developed specifically for the real estate industry; one installed on your PC or one offered as a Web-based application. Here, I’ll explain your options and introduce you to a brand new software product that’s made just for real estate practitioners.

Generic vs. Industry Specific

Generic contact management systems tend to be updated more frequently and boast a broader mix of features that you can customize. Typically, they're also the most affordable options. The downside? Adapting these programs for real estate takes time and requires a thorough understanding of how contact management can be used best specifically for your career. Then there are real estate-specific solutions, such as Powermate’s Agent Business Builder and Top Producer, which already have been developed for your career needs. That removes the burden of customization, although you must pay more for that convenience.

However, there are other options — products that fall somewhere in between generic and real estate specific. Some examples include template sets such as ActiveAgent from Sonoma Enterprises or add-ons to the generic software such as Goldmine. A New Product Hits the MarketSage Software, publisher of the generic ACT! contact management/customer relationship system, has created a new program geared to real estate professionals: ACT! Premium for Real Estate . The product aims to appeal to those who are already familiar with the generic version. Sage estimates that 6 percent, or 150,000, of the generic software’s 2.5 million registered users are real estate professionals. Users of the generic version of ACT! can upgrade to the real estate-specific version, while new users can buy it off the shelf.

Brandon Balsley, senior product manager of ACT! Premium for Real Estate, says company surveys show that real estate practitioners “had to spend a lot of time customizing the program to their real estate business and how they operate.” With the new version, “we set out to make it as easy as possible for anyone in real estate to get up and running,” he says.

The software combines the regular features of ACT! with contact record, planning, marketing, and lead-management features customized for residential real estate salespeople and brokers. Included are six real estate reports, 30 letter templates for marketing and correspondence, and automated scheduling for 20 real estate activities. The package also includes software to synch contact and calendar information between a computer and Palm or Pocket PC handhelds. Balsley also notes that features such as the database and activity planner can be shared or accessed using other ACT! Products — which must be purchased separately — including ACT! Premium for the Web and ACT! for Palm OS,a full-powered version of ACT! for Palm devices.

As you may expect, ACT! Premium for Real Estate carries the higher pricing one would expect of an industry-specific solution: $469.99. However, users of the generic version can upgrade to the real estate version for $199.95 from ACT! 2006, or $299.95 from ACT! 2005 and earlier versions.

Review Your Options

If you’re new to contact management, or looking to replace an older solution, the new real estate version of ACT! may provide the ease of use and specialized features that merit the investment. But before you commit to this or any other system, look at all of your options and balance you real estate needs with what you’re willing to pay. Visit Web sites of vendors, compare features, and take advantage of trial versions to find the best match for your needs. Key considerations include flexibility for creating customized records and report functions, data import/export compatibility with other applications, and integrated activity planning and alerts.

Contact management should be approached as a cornerstone of a tech-driven real estate strategy. It allows you to operate more efficiently as it boosts productivity and improves services to consumers. With so much to gain, take the time to make sure whatever solution you choose is one you can confidently entrust with your career.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Office Vacancy Rate Falls, Pushing up Rents

2006-07-10T05:24:00.000-07:00

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The nation’s office vacancy rate continues to fall for the ninth straight quarter giving landlords still more reason to raise rental rates.

The average vacancy rate in the second quarter was 13.8 percent, down from 14.2 percent in the first quarter, according to Reis Inc., a real estate research firm. Best in vacancy rates was the District of Columbia at 6.6 percent, followed by Orange County, Calif., New York City, suburban Maryland and Miami, all with vacancies of slightly less than 9 percent.

Rent growth was highest in New York City at 3.9 percent, followed by Orange County, Fort Lauderdale, Fla., Miami and Austin, Texas, all with growth above 3.2 percent.

Source: The Wall Street Journal, Jennifer S. Forsyth (07/07/2006
Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Falling Land Prices Batter Builders' Stocks

2006-07-10T05:23:00.000-07:00

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Many builders purchased large amounts of land at the height of the housing boom. Now that may come back to haunt them. Pessimistic stock analysts say the companies’ land might not be worth what they paid for it, which could lead to painful write-downs – subtractions from the companies’ bottom lines. Writes-downs are likely to further reduce the value of home builders’ stocks, which have already fallen an average of 28 percent this year.

Last month, Hovnanian Enterprises Inc. reported plans to take $5 million in write-offs on land deposits, a small percentage of its total, and luxury home builder Toll Brothers Inc. wrote down roughly $12 million, mainly from land that it owned in the sluggish Detroit market. Builders say they often adjust their land values to the market, even in boom times.

Home builders always have had a hard time getting respect on Wall Street, where investors often take a short-term view of the sector's performance potential. "The adage has been 'buy them at book value and sell when they get to two times book value,'" says Arthur Oduma, a senior stock analyst who covers the home builders at Morningstar. "So, that would tell you it's time to buy."

Source: The Wall Street Journal, Michael Corkery and Ian McDonald (07/06/2006)

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Study: Piggyback Loans More Likely to Default

2006-07-10T05:19:00.000-07:00

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A study of the performance of piggyback loans by influential ratings agency Standard & Poor’s has found them to be from 43 percent to 50 percent more likely to go into default than comparable stand-alone, first-lien purchase transactions.

Piggyback plans were developed in response to soaring home prices to help buyers without much cash avoid private mortgage insurance premiums. The borrower takes out a traditional mortgage for 80 percent of the property value, then obtains a second lien for a portion or all of the balance, resulting in no PMI payments..

As a result of the study, Standard & Poor’s is forcing lenders that fund piggyback deals to have more capital on hand, which is likely to raise interest rates and fees for home buyers and reduce availability of the piggyback loans, mortgage experts say.

Ted Durant, vice president of analytic services for MGIC, a large Milwaukee-based private mortgage insurer, says, "We were not surprised" by Standard & Poor's action. "The securities market has recognized the risk" that piggybacks entail for some time.

Essentially they are low- or no-down-payment loans — which always carry higher default risk than loans with conventional 20 percent down payments — but with no insurance to handle that elevated risk."

Source: Washington Post Writers Group, Kenneth Harney (07/06/2006)

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Cooling Market Sparks Interest in Foreclosures

2006-07-10T05:18:00.000-07:00

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Higher interest rates and a slowdown in the housing market have raised projections for U.S. property delinquencies and foreclosures. The prospect of more foreclosed residences hitting the market increasingly has encouraged investors and first-time home buyers alike to log onto RealtyTrac.com, Foreclosures.com, and other Web sites that list real estate that has been — or is about to be — seized by lenders.

While the sites, usually free to browse but requiring payment for full access, do contain some useful information about the foreclosure process, they should be utilized with caution. Critics point out that many of the sites include outdated information or listings of properties that are not ready for sale; while many are heavy on promotional materials.

Source: The Wall Street Journal (07/06/06), Ruth Simon

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Is It Subprime or Predatory? How to Tell

2006-06-26T06:27:00.000-07:00

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When does a subprime loan turn into predatory lending? It can be hard to tell the difference. But there are some distinctions, according to Joe Ridout of Consumer Action, a nonprofit consumer education and advocacy group. While subprime interest rates can be high, lenders can justify them in terms of the risks they are taking. In predatory-lending territory, a lender issues loans without regard for the borrowers’ ability to repay. When a lender aggressively bundles unrelated products — like a life insurance policy — or unusual fees into the mortgage loan, that’s probably a predatory loan.Predatory lenders love large prepayment penalties that lock borrowers into pricey loans, which cannot be easily refinanced when the borrower’s credit score improves.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

How to Stage Your Home For Sale

2006-06-13T19:20:00.000-07:00

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So you've decided to abstain from hiring a real estate agent and are selling your own home. Good for you! While selling your own home amounts to a full-time job, it could be the best-paying part-time work you'll ever do UNLESS you try a Flat Fee Full Service Broker like Market To Sell. But if you are really interested in giving it a go, read further for tips on how to stage your home for sale.

You may have heard talk of "staging" homes, and the importance of staging to a quick, profitable sale. It's true- staging your home is IMPORTANT!

Clean and tidy: Carpets vacuumed, floors swept and mopped, windows sparking clean. No papers piled up on the kitchen table, no magazines, toys or dirty clothes on the floor.

If you have a lawn, make sure it's mowed and raked free of leaves, and remove any dead plants from the garden.

If you have a cat, make sure to scoop the litter box at least twice a day, and do a dump-and-scrub weekly.

If you have a dog, make sure the yard is scooped daily, and before every showing!

TV design shows tout the use of storage bins, making it sound as though every seller absolutely must put half their belongings into storage. Storage bins are extremely expensive, and there's a great deal of work involved moving your stuff into them, then getting it back out later.

Unless your house is so cluttered, you have to make paths to walk through it, skip the storage bin. Pull up a trash bin instead and throw away all the junk you never use anymore; anything that's too good to go into the trash bin can be donated to a thrift store or sold at a yard sale.

Some people wait until they're ready to move to do this, but it's more logical to do it just prior to putting your home up for sale: Fewer things in your house mean less things to deal with when tidying up.There's also no reason to remove all of your paintings and family pictures from your walls, with the caveat that you do not want too many things on the walls. If every square inch of wall is covered by a picture, buyers may wonder if you're trying to conceal a problem.

Remember that the objective is for the buyer to actually see the house. They must be able to see that the walls are not cracked and full of holes, the windows are not broken, the carpet isn't torn up, etc.You don't have to empty closets, but straighten them up as much as possible to make them look as big as possible. Don't keep a pile of tee-shirts thrown haphazardly all over the shelves; fold and arrange them neatly. Arrange shoes neatly at the bottom of the closet, preferably on a shoe rack.

In the kitchen, make sure your dishes and cooking instruments are arranged neatly on the shelves.Arrange your furniture in a way that makes each room look as large as possible. You may wish to relocate some furniture from one room to another, or even store a piece or two in your shed or basement, to achieve this effect.

Make sure curtains and blinds are clean, and that each room is as light and bright as possible. If you have heavy drapes, pull them back for showings -- or better yet, buy some light curtains. They're inexpensive and can really brighten up a room.Arrange your garage and (if you have them), basement, attic and shed as neatly as possible, but keep in mind that most people expect these areas to be cluttered; they don't have to be as neat as the living room. These are areas where you can relax a little, and maybe store some of the things you've moved out of other rooms. Just make sure there isn't so much junk packed in that the buyer cannot see anything (for example, make sure the buyer can see that two cars fit comfortably in the garage).

Finally, put any pornographic or political material (books, signs, etc.) into a box and store it out of view. You do not want a buyer getting hysterical because they brought their 10-year-old with them, and he saw your Hustler. In addition, everyone has their own strong opinions on abortion, marijuana, the War in Iraq, etc.

There's an old adage about keeping religion and politics out of business, and as mentioned in the first paragraph, selling your home is a part-time business. A home showing isn't the time to get into a political debate; you want the buyer to concentrate on your product--the house--not your politics.

If you're still a little challenged regarding decor or furniture arrangement, pick up a copy of Better Homes & Gardens or a regional home and garden publication like Sunset or Southern Living. You don't have to mimic everything you see in the magazines, but they're full of great tips on topics such as making a small home appear larger or brightening up a dark room.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Experts warn of day of reckoning with buy now, pay later loans

2006-06-09T15:01:00.000-07:00

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It’s called the Stress Free Mortgage. The interest rate is advertised as a rock-bottom 0.99 percent. Better still, initial monthly payments are almost a dream, nearly half what a traditional mortgage holder would pay. With the Stress Free Mortgage, offered by Great Financial Mortgage in Fullerton, Calif., a buyer looking at a $310,000 loan would pay only about $995 a month. For the first year.

The stress could come later.

Minimum payments rise each year, so in five years the minimum is $1,330 a month. Even at that, borrowers have not even begun paying for the house. In fact, they haven’t even paid all the interest they owe the bank. After five years of rising payments, the mortgage balance is actually higher, closer to $329,000.

At that point, the real stress begins. When the loan payment is reset, because of the rising outstanding balance, the new minimum payment is $2,015 — more than double the initial payment. And that assumes interest rates are flat. Were interest rates to rise slowly – say from the current 5.5 percent to 6.4 percent — the new minimum monthly payment would be a knee-buckling $2,243.

Welcome to the high-stakes world of the negative-amortization loan. With skyrocketing home prices in America’s hottest markets, lenders have become increasingly creative in their efforts to stretch consumers into pricier homes.

Interest-only loans, nearly unheard of three years ago, have jumped in popularity. “IO” mortgages, which come in many shapes and sizes, can shave 20 to 30 percent off monthly payments because they temporarily relieve borrowers of the need to pay any principal. But after that temporary reprieve, mortgage payments jump sharply. Fully one-third of mortgages opened last year were interest-only loans, causing a stir of concern among economists including Federal Reserve Chairman Alan Greenspan.

But interest-only loans seem conservative compared to the latest lending rage, the negative-amortization loan. Consumers who sign up don’t even have to pay the full interest owed the bank each month. Instead, they borrow more money as time goes by, making minimum payments in a way that echoes the world of revolving credit card debt. In a housing market that goes suddenly flat, such a loan guarantees the buyer will be “upside down” after a few years — meaning their home will be worth less than the mortgage on it.

Offered 'alongside Viagra ads'Few financial experts or even mortgage brokers see these loans as a sound borrowing technique for most consumers. Yet according to UBS analyst David Liu, 40 percent of mortgages over $360,000 that have closed so far this year are “neg-am” loans. And the Internet is crawling with all manner of come-ons, offering products with names like “Name Your Payment” loans.

“I always remind people that those things are offered on the Internet alongside Viagra ads and deals with shady folks from Nigeria,” said UCLA economics professor Edward Leamer. He believes the rise in riskier mortgages is a sure signal that America is indeed in a housing bubble, and he worries consumers who are anxious to buy high-priced homes are getting in over their heads. “I can't say everybody doesn’t know what they are doing, but this is a direction that is very worrisome.”

There is still plenty of debate about the size and scope of a possible housing bubble. But there is little debate that soaring prices are stretching home budgets like never before. Harvard University's Joint Center for Housing Studies recently found that nearly one in three American households spends more than 30 percent of income on housing, and more than one in eight spend close to 50 percent.

There is also growing consensus that the rising popularity of creative home loans could spell trouble. The gyrations of lenders alone should give consumers pause.
Interest-only loans haven’t been this popular since the late 1920s; negative-amortization loans since the early 1980s California housing boom. Both those trends ended badly. But today, there are entire families of adjustable-rate, interest-only loans.

Consumers who choose negative-amortization loans — also called option ARMs — are not locked into additional borrowing each month. Loan holders can choose one of four options — a minimum payment that results in “deferred interest,” increasing the mortgage balance; an interest-only payment; a payment that represents a traditional 30-year mortgage rate; and a larger payment that represents an accelerated 15-year mortgage payment. But a UBS study recently suggested that 70 percent of neg-am mortgage holders make just the minimum payment.

'That's the risk you take'Such monthly borrowing from your house spells real trouble, financial experts say.

“The only way you can assume that kind of risk is you are saying the house is going to appreciate substantially, you are assuming your income will increase significantly, or you are assuming interest rates will fall or remain the same,” said Robert Manning, author of "Credit Card Nation" and a personal finance expert. “If interest rates rise, property values fall or your income stays the same, you are absolutely screwed.”

Richard and Jamie Henriquez just refinanced their home in Granada Hills, Calif., with Great Financial Mortgage and chose a negative-amortization loan with low initial payments.
“We looked at 30-year fixed,five-year fixed, three-year fixed, and we chose that one because with the payment, you can’t go wrong. It’s flexible,” Henriquez said. Asked if she was worried about what might happen in three or four years, she said, “I'm really not. I could sit here and worry about that right now, but I don't know what's going to happen three or four years down the road. I know if interest rates skyrocket that’s going to put us in a bad position, but that’s the risk you take.”

In Congressional testimony last month, Greenspan called such loans “exotic” and said their popularity was a development of “particular concern.” Federal banking regulators have made noises about additional scrutiny on banks that make such loans. And credit rating firms Fitch and Standard & Poors have announced they are mulling a re-examination of investments tied to such loans.

Yet the popularity of these loans has turned the mortgage industry on its head, confusing consumers, said Liz Weston, author of “Your Credit Score” and a personal finance columnist at MSN.com.

“I'm talking to mortgage brokers in their 20s who say that only an idiot would have a 30-year fixed mortgage right now,” Weston said.

Blamed for extending the bubbleSome experts say these non-traditional loans are artificially extending the housing bubble. The math is simple — consumers who can make a $2,000-a-month mortgage payment can afford a $350,000 loan using a traditional mortgage. With an interest-only loan, their buying power jumps to over $430,000. With a negative-amortization loan, that payment could get an eager couple into a $600,000 home. Consumers who want to buy a home with a traditional mortgage are easily outbid by those with exotic loans, pushing prices higher.

Not all interest-only loans are equally risky.
The real danger is an interest-only mortgage tied to an adjustable rate. Should rates rise a point or two, consumers could face a punishing double-whammy when the interest-only period expires and they are forced to start paying higher rates along with principal. Monthly payments could double for some.

“A lot of people getting that loan don't understand the risk. If this is the only way you can get into a house, it's the worst possible choice,” Weston said. “Even if rates stay the same — and no one expects they will — you have a guaranteed time bomb ticking away.”

Brokers are so willing to peddle interest-only mortgages that a note posted on a housing bulletin board by a reporter looking for nervous mortgage holders elicited this e-mail response: “My name is Oscar and I'm a Senior Loan Officer and Mortgage Analyst, give me a call to qualify you for an Interest only loan. No Obligation.”

Brokers who offer such loans say they are helping people who might otherwise not be able to afford the American dream of a new home.

“It's a strong product with a real purpose in today's economy,” said California-based mortgage broker James Rothstein. “Quite simply it has allowed more people to buy a first home than ever before.”

A lack of understandingBut the idea that an interest-only loan can get you into a home you couldn’t otherwise afford is a fallacy, other experts say — unless you are the only one shopping with that kind of loan. As a rising tide lifts all boats, the availability of risky mortgages lifts all prices.

“An interest-only loan is an admission you can't afford the house you are trying to buy,” said Bill Fleckenstein, president of Fleckenstein Capital, an investment firm. “The assumption is you will refinance. The unsaid assumption is prices are going up and you will get bailed out. These loans are being made when both sides must know that the loan wouldn't work if it weren't for this little fudge. … But if the math doesn’t work, sooner or later, you’re going to be tripped up.”
Manning has just completed a set of focus groups around the country quizzing people on their understanding of the mortgage market. The results were alarming, he said.

“What's intriguing about Americans is that they have bought into the world view that everything will be better in the future,” he said. “People are willing to spend money because credit companies convince them that things will be OK. In our focus groups, people said they are counting on their house doubling in value in 5 years. … People are in worse shape then I thought.”

Gavin Fenske, president of Great Financial, said people who accept his loan offer are willing to make that gamble.

“(In California), people are not making money by paying down principle. They are making money because the market moves,” he said. “So who cares if I go down $20,000 in negative amortization when my property just went up $120,000? That's the logic behind it.” But he cautioned that the loan is not for first-time home buyers with little money for a down payment.
Some observers find the logic flimsy. They sense an eerie similarity to the technology stock bust five years ago. And there is an additional concern: In many large cities there is no such thing as affordable housing, says Ben Jones, who runs a popular blog called The Housing Bubble.

“I don't understand why it's not a national crisis,” Jones said. “Housing is a basic need. If you saw the price of milk or bread going up like this, Congress would be asked to do something. ... The market didn't need to be juiced with all this easy money.”

Confusing elements for consumersThere is a story economists tell about the difference between locals and tourists when selecting restaurants. Tourists usually overpay for average food because they don’t know better; locals have figured out where the best cooks are and who’s overcharging. The problem with the mortgage market is that consumers are almost all tourists because most buy homes only a few times in their lives. That makes them vulnerable to come-ons like low introductory interest rates and low monthly payments. But the new loans have complex elements many consumers might not immediately grasp.

Jack Guttentag, author of "The Mortgage Encyclopedia,” points out many pitfalls on his Web site, Mtgprofessor.com. Many people seem to believe that interest-only and negative-amortization loans give them access to lower interest rates; they don’t. In fact, lenders charge a premium rate for the right to pay less each month. Rates for such loans are lower only because most interest-only loans are also adjustable-rate loans. An interest-only option on a 30-year fixed loan — which is offered by some lenders — would have a higher rate than a traditional version of the same 30-year-fixed loan.

Many mortgage buyers also confuse the time schedule of the interest-only loans — principal payments can be put off as long as 15 years — with the time their interest rate is fixed, which can be as short as six months. That can lead to major monthly payment surprises.
Of course, the most confusing element of all is amortization, which is the rate at which the consumer actually buys the house from the lender. While low early payments look attractive, they can be costly.

For a $400,000 option-ARM loan, a borrower who chooses minimum payments over 30-year fixed payments will spend $50,000 more in interest over the life of the loan, assuming interest rates remain flat. If rates climb slowly by one point during the 30 years, the penalty is $70,000. In a nightmare scenario, where interest rates steadily climbed to 9.95 percent, a negative-amortization loan holder would pay $1.1 million for that $400,000 home, compared to $816,000 for the holder of a 30-year fixed loan — a $300,000 penalty.

New approach to borrowing
There is hardly universal agreement that non-traditional mortgages are bad. In fact, some suggest they merely represent a change in mind-set among house buyers — namely, that they have no intention of buying their house. Instead they are essentially renting the home until they move to another one.

“Consumers are managing mortgage debt like revolving credit. I don't think it's necessarily bad. It's different,” said Pam Martin, a spokeswoman for RMA, a Philadelphia-based association of bank and thrift risk managers.. “Consumers look at a mortgage differently than they did 20 years ago. ... There is a new emerging phenomenon. People don't look at paying off their mortgage because they know they are going to go buy something else in a few years.”

But that is a gamble of timing. Consumers who aren’t buying equity in their homes through their mortgages are betting on a force beyond their control — an unpredictable housing market. A falling, or even flat market could leave many “upside down.”

Should they have to relocate, they will not be able to sell their homes without paying the bank. And refinancing likely will be too costly. Manning, who lived in Washington, D.C., in the early 1990s, recalls entire blocks of homeowners simply “walking away” from their places in the 1990-91 recession because they were tens of thousands of dollars upside down.

“People couldn’t sell their homes because they didn’t have $50,000 to pay the bank at closing,” he said.

For consumers who choose these non-traditional loans, there is most certainly a day of reckoning sometime in the future — perhaps one, three or five years out, depending on the terms of the mortgage. Unless the buyer has sold or refinanced by that time, their mortgage payments will rise, perhaps substantially.

© 2006 MSNBC Interactive

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Single, Female, and Ready to Buy

2006-06-09T06:32:00.000-07:00

Brought to you by www.markettosell.com Your Premiere Flat-Fee FULL SERVICE Brokerage!

Single women may be helping to fuel the real estate market, but they still face unique challenges when buying or selling a home.

REVIEWED BY KELLY QUIGLEYThe Single Woman’s Guide to Real Estate by Donna Raskin and Susan Hawthorne (F+W Publications Inc., 2006)Buy this book from Amazon.com.

Single women accounted for more than one out of five home buyers last year, a 7 percent jump from a decade earlier, according to research from the NATIONAL ASSOCIATION OF REALTORS.

It’s safe to say this demographic is making quick progress in the real estate world. But according to the authors of this book, single women face a distinct set of challenges — emotional, financial, and otherwise — when buying and selling a home. This nuts-and-bolts book aims to help single women overcome these unique challenges, as well as the usual ones, to make solid housing decisions. Most of the book is written for a general audience, with information on obtaining a mortgage, making an offer, buying an investment property, and building a home; the final chapter of worksheets and sample reports is particularly useful. What sets the book apart from other how-to books (besides the floral-print paper separating each chapter) are single women’s personal real estate stories sprinkled throughout and a special chapter on post-divorce housing. “Women have, traditionally, been the people in families who decorate, clean, and care for houses,” the authors write. “So isn’t it about time that woman claim their purchasing power and actually own the homes they nurture?”

Tips From the Book:

Consider potential problems before sharing a vacation home. Sometimes it makes financial sense to purchase a vacation home with another person, possibly a good friend or family member. But you must make sure it’s someone you trust and with whom you can be honest about any problems that arise — and problems will arise. Plan ahead for what you’ll do if someone wants to sell or move there permanently. Maintenance fees, taxes, expenses, and earnings also need to be divvied up equally.
At a second showing, focus on the details. At the first showing, you’re somewhat detached and look for the general features you want: a fireplace, a home office, a big deck. When you come back for the second showing, you have to dig into the details. Bring a tape measure and a digital camera. You’ll want to turn on the showers and sinks, flush the toilets, open every cabinet or drawer, and look in the attic. Write down everything you notice — anything loose, leaky, or cracked. This will help you as you discuss with your real estate practitioner a fair price to offer. Keep finances in check during divorce.
Oftentimes during a divorce, bills go unpaid, credit cards are used irresponsibly, and financial surprises are uncovered — all of which could result in an unflattering credit report. If this happens to you, don’t panic. Instead, get a grip on your finances and figure out how you can repay your bills. After correcting the problems, contact credit agencies and explain you situation, showing that you’ve returned to your responsible ways. Ask them to fix your credit report; they often will.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Does Remodeling Pay?

2006-06-09T06:23:00.000-07:00

Brought to you by www.markettosell.com Your Premiere Flat-Fee FULL SERVICE Brokerage!

MAJOR KITCHEN REMODEL
Update an outmoded 200-square-foot kitchen with new cabinets, laminate countertops, and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, and garbage disposer. Add custom lighting and new resilient floor. Finish with painted walls, trim, and ceiling. Include 30 linear feet of semi-custom grade wood cabinets, including a 3-by-5-foot island.

National AverageJob cost: $42,660

Value at sale: $33,890

Cost Recouped: 79.4%

BATHROOM REMODEL
Update bathroom that's at least 25 years old. Replace all fixtures to include standard-sized tub with ceramic tile surround, toilet, solid-surface vanity counter with integral double sink, recessed medicine cabinet, ceramic tile floor, and vinyl wallpaper.

National AverageJob cost: $9,861

Value at sale: $8,887

Cost Recouped: 90.1%

MASTER SUITE ADDITION
On a house with two or three bedrooms, add a 24-by-16-foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid surface countertop. Bedroom floor is carpet; bath floor is ceramic tile. Paint the walls, ceiling, and trim. Add general and spot lighting and exhaust fan.

National AverageJob cost: $70,245

Value at sale: $56,257

Cost Recouped: 80.1%

FAMILY ROOM ADDITION
Add a 16-by-25-foot room on a crawl space foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with batt insulation, prefinished hardwood floor, and 180 square feet of glazing, including windows, atrium-style exterior doors, and two operableskylights. Tie into existing heating and cooling.

National AverageJob cost: $52,562

Value at sale: $42,347

Cost Recouped: 80.6%

WINDOW REPLACEMENT
Replace 10 existing 3-by-5-foot double-hung windows with vinyl- or aluminum-clad, double-glazed, wood replacement windows. Wrap existing exterior trim as required to match. Don't disturb existing interior trim.

National AverageJob cost: $9,273

Value at sale: $7,839

Cost Recouped: 84.5%

ROOFING REPLACEMENT
Remove existing roofing to bare wood and dispose of properly. Install 30 squares of fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing.

National AverageJob cost: $11,376

Value at sale: $9,197

Cost Recouped: 80.8%

ATTIC BEDROOM
In a house with two or three bedrooms, convert unfinished space in attic to a 15-by-15-foot bedroom and a 5-by-7-foot shower bath. Add a 15-foot shed dormer and four new windows. Insulate and finish ceiling and walls; carpet unfinished floor. Extend existing heating and central air conditioning to new space. Retain existing stairs.

National AverageJob cost: $35,960

Value at sale: $29,725

Cost Recouped: 82.7%

BASEMENT REMODEL
Create a 20-by-30-foot entertaining area with wet bar, a 5-by-8-foot full bath, and a 12-by-12-foot auxiliary room. Exterior walls are insulated. Include five six-panel primed hardboard doors. Main room includes 15 recessed ceiling light fixtures, three surface-mounted light fixtures, and snap-together laminate flooring system. Bathroom includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, and recessed medicine cabinet. Bar area includes 10 linear feet of raised panel oak cabinets with laminatecountertops, stainless steel bar sink, single-lever bar faucet, under-counter refrigerator, and vinyl floor tile.

National AverageJob cost: $47,888

Value at sale: $36,457

Cost Recouped: 76.1%

SUNROOM ADDITION
Add a 200-square-foot sunroom to a two-story house. Form and pour footings for slab-on-grade foundation. Use exposed post-and-beam framing on interior side and extruded aluminum window frame-and-flashing system with insulated, low-E, laminated, or tempered glazing. Provide for natural ventilation using screens and ceiling fan. Insulate all non-glass areas; provide movable shades for glass area.

National AverageJob cost: $31,063

Value at sale: $22,002

Cost Recouped: 70.8%

DECK ADDITION
Add 16-by-20-foot deck using pressure-treated SYP joists supported by 4-by-4 posts set into concrete footings. Install composite deck material in a simple linear pattern. Include a built-in bench, a planter of the same decking material, and stairs. Provide a railing system made of the same composite material as the decking or a compatible vinyl system.

National AverageJob cost: $6,917

Value at sale: $6,000

Cost Recouped: 86.7%

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

17 Service Providers You’ll Need When You Sell

2006-06-09T06:21:00.000-07:00

Brought to you by www.markettosell.com Your Premiere Flat-Fee FULL SERVICE Brokerage!

1. Real Estate Attorney
2. Appraiser
3. Home Inspector
4. Mortgage Loan Officer
5. Environmental Specialist
6. Lead Paint Inspector
7. Radon Inspector
8. Tax Advisor
9. Sanitary Systems Expert
10. Occupancy Permit Inspector
11. Zoning Inspector
12. Survey Company
13. Flood Plain Inspector
14. Termite Inspector
15. Title Company
16. Insurance Consultant
17. Moving Company

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

6 Forms You’ll Need to Sell Your Home

2006-06-09T06:20:00.000-07:00

Brought to you by www.markettosell.com Your Premiere Flat-Fee FULL SERVICE Brokerage!

1. Property Disclosure Form: This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state.
2. Purchasers Access to Premises Agreement: This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move.
3. Sales Contract: The agreement between you and the seller on terms and conditions of sale. Again, check with your state real estate department to see if there is a required form.
4. Sales Contract Contingency Clauses: In addition to the contract, you may need to add one or more attachments to the contract to address special contingencies—such as the buyer’s need to sell a home before purchasing yours.
5. Pre- and Post-Occupancy Agreements: Unless you’re planning on moving out and the buyer moving in on the day of closing, you’ll need an agreement on the terms and costs of occupancy once the sale closes.
6. Lead-Based Paint Disclosure Pamphlet: If your home was built before 1978, you must provide the pamphlet to all sellers. You must also have buyers sign a statement indicating they received the pamphlet

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Tips for Holding a Yard Sale

2006-06-09T06:18:00.000-07:00

Brought to you by www.markettosell.com Your Premiere Flat-Fee FULL SERVICE Brokerage!

Use a yard sale to reduce the clutter in your home and get rid of items you don’t want to move.

1. Check with your city government to see if you need a permit or license.
2. See if neighbors want to participate and have a “block” sale to attract more visitors.
3. Advertise. Put an ad in free classified papers, put up signs and balloons at major intersections and in stores near your home.
4. Price items ahead and attach prices with removable stickers. Remember, yard sales are supposed to be bargains, so don’t try to sell anything of significant value this way.
5. Check items before the sale to be sure you haven’t including something you want by mistake. 6. Keep pets away from the sale.
7. Display everything neatly and individually so customers don’t have to dig through boxes.
8. Have an electrical outlet so buyers can test appliances.
9. Have plenty of bags and newspaper for wrapping fragile items.10. Get enough change, and keep a close eye on your cash.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

Is Your Buyer Qualified?

2006-06-09T06:09:00.000-07:00

Brought to you by www.markettosell.com Your Premiere Flat-Fee FULL SERVICE Brokerage

Unless the buyer who makes an offer on your home has the resources to qualify for a mortgage, you may not really have a sale. If possible, try to determine a buyer’s financial status before signing the contract.

Ask:

1. If the buyer has been prequalified or preapproved (better) for a mortgage. Such buyers will be in a much better position to obtain a mortgage promptly.
2. Does the buyer have enough money to make a downpayment and cover closing costs? Ideally, a buyer should have 20 percent of the home’s price as a downpayment and between 2 and 7 percent of the price to cover closing costs.
3. Is the buyer’s income sufficient to afford your home? Ideally, buyers should spend no more than 28 percent of total income to cover PITI (principal, interest, taxes, and insurance).
4. Does your buyer have good credit? Ask if he or she has reviewed and corrected a credit report.
5. Does the buyer have too much debt? If a buyer owes a great deal on car payments, credit cards, etc., he or she may not qualify for a mortgage.

Jeff Grillo
Managing Broker
www.markettosell.com
847-431-2544
jeff@markettosell.com

20 Low-Cost Ways to Spruce Up Your Home

2006-06-09T05:42:00.000-07:00

Brought to you by www.markettosell.com

Make your home more appealing for yourself and for potential buyers with these quick and easy tips:
1. Trim bushes so they don’t block windows and cut down on light.
2. Buy a new doormat.
3. Put a pot of bright flowers (or a small evergreen in winter) on your porch.
4. Put new doorknobs on your front door.
5. Put a fresh coating on your driveway.
6. Edge the grass around walks and trees.
7. Keep your garden tools out of site.
8. Be sure kids put away their toys.
9. Buy a new mailbox.
10. Upgrade your outside lighting.
11. Use warm, incandescent light bulbs for a homey feel.
12. Polish or replace your house numbers.
13. Clean your gutters.
14. Put out potpourri or burn scented candles.
15. Buy new pillows for the sofa.
16. Buy a flowering plant and put in a window you pass by frequently.
17. Make a centerpiece for your table with fruit or artificial flowers.
18. Replace heavy curtains with sheer ones that let in more light.
19. Buy new towels.
20. Put a seasonal wreath on your door.

12 Tips for Hiring a Remodeling Contractor

2006-06-09T05:40:00.000-07:00

Brought to you by www.markettosell.com Your premiere Flat Fee- Full Service Broker

1. Get at least three written estimates.
2. Get references and call to check on the work. If possible, go by and visit earlier jobs.
3. Check with the local Chamber of Commerce or Better Business Bureau for complaints.
4. Be sure that the contract states exactly what is to be done and how change orders will be handled.
5. Make as small a downpayment as possible so you won’t lose a lot if the contractor fails to complete the job.
6. Be sure that the contractor has the necessary permits, licenses, and insurance.
7. Be sure that the contract states when the work will be completed and what recourse you have if it isn’t. Also remember that in many instances you can cancel a contract within three business days of signing it.
8. Ask if the contractor’s workers will do the entire job or whether subcontractors will do parts.
9. Get the contractor to indemnify you if work does not meet any local building codes or regulations.
10. Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.
11. Guarantee that materials used meet your specifications.
12. Don’t make the final payment until you’re satisfied with the work.

Tips for Pricing Your Home· Consider comparables.

2006-06-09T05:37:00.000-07:00

Brought to you by www.markettosell.com Your premiere Flat-Fee Full Service Brokerage

What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?· Consider competition. How many other houses are for sale in your area? Are you competing against new homes?· Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months? · Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute (http://www.appraisalinstitute.org/) or ask your REALTOR® for some recommendations.· Ask a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value. · Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell. · Know what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.

Timeshare Approach Makes Stadium Boxes More Affordable

2006-06-09T05:36:00.000-07:00

(June 8, 2006) -- Los Altos, Calif.-based Owner’s Pass is applying the timeshare business model to stadium luxury suites. By offering timeshare packages for luxury suites, Owner's Pass lowers the entry price compared to full suite ownership and helps companies create a package of games that spans the entire calendar year and all professional sports. For example, an Owner's Pass package can be customized to a company's schedule and locations to include a few games for each of the San Francisco Giants, Los Angeles Dodgers, Los Angeles Lakers, San Jose Sharks, and San Francisco 49ers, to name a few.Owner's Pass offers memberships with as few as five events beginning at $25,000, compared with about $200,000 per year for full luxury suite ownership.The company is expanding the concept to major sports markets throughout the country.

Help Just a Call Away for FHA or VA Borrowers

2006-06-09T05:35:00.000-07:00

(June 8, 2006) -- The best thing a borrower with an FHA or VA mortgage who is unable to pay his loan can do is work out a payment schedule, says John Carson, Denver regional director for the U.S. Department of Housing and Urban Development.“We have an excellent loss-mitigation program for folks who are getting into trouble,” Carson says. “Our goal is to keep them in the mortgage if we can.”The federal loan help line — 888/297-8685 — is available seven days a week. Source: Denver Post, Beth Potter (06/07/06)

Next Winter's Heating Oil Costs Could Be Chilling

2006-06-09T05:34:00.000-07:00

(June 8, 2006) -- Expect the price of heating oil to cost about 45 percent more next winter than it did last winter, heating oil companies say.

In Concord, N.H., where summer is short and winter comes early, oil companies are already filling customers’ tanks. They say customers who lock in now will pay about $2.60 per gallon, up from $1.85 per gallon last year.

That translates into an additional $600 to heat the average home.

Source: Associated Press (06/08/06)

2006-06-09T05:27:00.000-07:00

jeff@markettosell.com Call us at 847-431-2544

Hybrids are IN!!!!

OK, so you are not quite ready to take on all of the challenges of listing your valuable property by yourself but you also aren't ready to lock in your listing with someone for 6 months only to share thousands of dollars in equity with them!!

It's simple, get all of the services of a full service household name brokerage for nearly the price of some FSBO sites. There's no catch. Ask as many questions as you can before you make your decision..

Here's a brief overview of what you get:- Welcome to the what we call the Flat Fee 5!
(For more details on specific features, please contact us directly)

1. A Dedicated Realtor to represent you!
The most important thing that we can offer you! There is no better asset than a local professional to help you through the ENTIRE transaction so you are never alone!

2. Marketing-
-Your listing will appear in electronic form such as on the MLS, Markettosell.com, Realtor.com and its affiliate websites, and IL real estate blogs.
-In addition, depending on your home, it will also appear in certain newspapers and community websites.
-All listings receive 6 photos for major publications and up to 12 photos for www.markettosell.com.
-Dedicated Website featuring your listing.
-We compose all marketing materials for you with your guidance to enhance your property's best benefits. As an added bonus we provide a special "Tour Guide" for interested buyers as they walk through your home!
-Each listing will receive a professional yard sign in the front yard which will be installed for you. If it makes sense to put an additional sign on the property, that is included also.

3. Dedicated Answering Service-
We are a full time brokerage and provide this service for you to answer questions, qualify buyers, set up appointments, and provide an overall professional "feel" to your listing.

4. Staging Advice-
We'll help you shape up your dwelling to stand out above the crowd!

5. Consultation-
This is YOUR home and the transaction has to work for YOU! We will only make suggestions and consult you so that you can make an educated decision for yourself.

That sounds great but what is it going to $ave me???? Click here to find out!