Chicago's North Shore - North and Northwest Suburbs Real Estate

Chicago North Shore, North and Northwest Suburban Real Estate Blog

Allyson Hoffman

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Tonight Leslie Stahl's interview regarding an alternative real estate model of discounted brokerage commissions mentioned that the State of Illinois is one of the states that has imposed a law making it harder for discount brokerages to offer their discounts.  In fact, this is absolutely true.  The implication was that full service brokerage firms are conspiring to undermine the discounters.    It is unfortunate that this one-sided discussion failed to mention why the law was enacted in the first place.

This law, which obviously affects all homeowners and property owners in the Chicago metro area, the Northern Illinois real estate community , as well as buyers and sellers of homes in Chicago's North Shore and Northwest Suburban areas, might lead one to conclude that it was designed to limit consumer options.  In fact, this law actually resulted from consumer complaints to the Illinois licensing authority, the Illinois Department of Financial and Professional Regulation (www.idfpr.com).  

Numerous instances of consumer dissatisfaction were brought to the attention of the licensing entity regarding the lack of services provided by some of those whose business model embraces the discount profile.  In an effort to assure that this dissatisfaction was addressed and resolved, Illinois enacted a law that required a minimal level of service be provided by those offering real estate brokerage services.  This was done not to undermine discounters and not to limit consumer options, but rather to assure  that consumers received a minimal level of service, a level expected based upon their complaints. 

Stahl's interview additionally failed to examine or highlight the benefits of full service brokerages and neglected to share the statistical data that shows a much higher average listing to selling price ratio for those who utilize full service brokers.  Had this been explored, it would have been clear that despite higher costs of sale in the full service brokerage model, there is an associated higher net on average that typically companions that cost and results in an overall higher net profit in the end.  Stahl failed to focus upon the most important issue which is ultimately what puts more dollars in the consumers pocket at the end of the day! 

For more information on this subject , read the Blanche Evan's  Realty Times article of May 11, 2007 which further explores this current controversial topic.  Blanche Evans is a highly respected, experienced and well known real estate journalist whose in-depth article can be found at http://realtytimes.com/rtapages/20060621_banksnewspapers.htm.

Image courtesy of Dan Wiedbrauk/Flickr.com

Home Appraisers; What You Should Know

by Allyson Hoffman

Home appraisers are a necessary part of your real estate transaction and it is important to know exactly what the appraiser's responsibilities are, and to whom.

I think the most common misconception about appraisers is that they work for the home seller. Appraisers are hired to be impartial and provide an accurate "value" to your home in order for lenders to determine if the collateral supports the debt. These same lenders are also putting a lot of pressure on appraisers which result in higher than market value home appraisals.

You can read more about it in the article Please don't hit the appraiser.

Image courtesy of Sherwood CC/Flickr.com

Chicago Makes Top 10 on America's Next Hot Neighborhoods List

by Allyson Hoffman

In a study done by BusinessWeek.com and Zillow.com, an online real estate service, Chicago's East Garfield Park ranked #2 as one of America's next hot neighborhoods.

Results were based on Zillow.com's Zindex, which translates to the median home-value, and how much this value has increased in a given location in the past five years. These increases are due to an areas improved crime rate, location and access to public transportation, schools and employment opportunities. They are factors like these that increase a community's desirability and investment potential.

 East Garfield Park's Zindex resulted in a 94.98% change from $110,142 in 2001 to $214,757 in 2006. To compare other hot neighborhood Zindex scores, read America's next hot neighborhoods.

Image courtesy of John Ashley/Flickr.com

Heads Up To Waterfront Lovers & Boating Enthusiasts!

by Allyson Hoffman

Mundelein's 150-acre Diamond Lake will be the setting for sixteen new luxury condominiums featuring lakefront settings and private boat slips included with each unit.  For those looking to combine a resort lifestyle with their brand new home, four plans featuring two or three bedrooms and up to three full baths can be customized to taste.  Quality finishes are included and pre-construction building incentives are now in place.  Prices will range from $494,900 to $594,900.  Watch for a grand opening around the middle of May, but in the meantime if you would like information now, details can be obtained on the website at www.DiamondCove-LuxuryCondominiums.com

Image courtesy of Virginia State Parks/Flickr.com

Cook County North and Northwest Suburbs Tax Reassessment

by Allyson Hoffman

Reassessment, by the Cook County Assessor, for all property located in the North and Northwest suburbs of Cook County will be completed during 2007.  Sellers and buyers of property in this area should consider the results of this process when determining how to resolve the tax prorations in their sales contracts.  Potential for 25% to 30% increases in the property assessments are predicted by some experts allowing for some possibly significant monetary implications. Evanston township has already released its changes on March  30th.  If you would like to look up a current tax assessment or are seeking additional information on Cook County Tax Assessement and how this may impact you, additional information can be found at http://www.cookcountyassessor.com/.

Image courtesy of geralt/Pixabay.com

Your Home and Air Quality

by Allyson Hoffman

In a time when the environment and air quality is a growing concern, how many people take the time to consider how everyday household items and appliances can affect the air we breathe in our own homes?

It is alarming to find out that it has been suggested that the air we, and our families, breathe in our homes is more polluted than the air outside. As a homeowner we can tackle and improve the air quality in our homes by following a few basic maintenance tasks listed in this article titled "Time to clear the air".

Image courtesy of Hans/Pixabay.com

What to Do About the NEW Daylight Savings Time & Your Computer?

by Allyson Hoffman

DON’T FORGET …

To set your clocks ahead for Daylight Saving Time!

MARCH 11, 2007

Perhaps you didn't know, but daylight savings starts three weeks early this year!  In an effort to create new energy savings, Sunday, March 11th has been designated as the new date for moving those clocks ahead.  Seems simple, doesn't it.  Just do what  we've pretty much always done only a few weeks sooner -- not so!  This change has the potential to wreak havoc with computers, programs and calendars.   A friend of mine from Washington State, Karen Schweinfurth, provided the following information to consider as we enter our longer Daylight Savings period for the first time this year:

 You may have heard about the change in Daylight Savings starting this year. DST will start three weeks earlier on March 11, 2007, and end one week later on November 4, 2007.

This could affect machines & computer programs that are set to coordinate time/date using Daylight Savings.

The first step is to ensure that your computer is prepared. For Windows XP users, click the below link to download and install the Daylight Savings patch:

http://www.microsoft.com/downloads/details.aspx?familyid=66F1420C-DF2D-400B-A8A9-EF9061A9A3CA&displaylang=en

Scheduling software, such as Microsoft Outlook, could also be affected.

If you use the calendar feature in Outlook, and have version 2000, 2002, or 2003, you will want to download and install the Time Zone Data Update Tool by using the below link:

http://www.microsoft.com/downloads/details.aspx?FamilyId=E343A233-B9C8-4652-9DD8-AE0F1AF62568&displaylang=en

You will also want to ensure that any fax machines that you use are changed to the correct time, as well as your digital phone at home, mobile phone, PDA, portable music player, programmable thermostat, digital camera, DVR, etc.

For other scheduling software, Smartphone's, & PDA's, check with the manufacturer to determine if you need to install updates to prepare for the new Daylight Savings rules.

The information above is courtesy of Karen Schweinfurth, RE/MAX Northwest Realtors, Inc., http://www.karensvillas.com.  Thanks, Karen!

Image courtesy of redjar/Flickr.com

Snow, Sleet, Ice ... Slippery Concerns!

by Allyson Hoffman

Looking outside today ... gray skies, intermittent snowflakes and semi-sleet accumulated into a pretty white wintery picture.   For those selling their homes or those looking at them, this is not a wonderful environment.  There's nothing like driving up to a property, excited customer in tow, to find that the lovely white stuff has amassed into at least an ankle-deep pristine pathless carpet with no way to the door but right straight through it.  Only the most adventurous and determined of agents and clients will brave the task and abandon their comfort and safety.   So to increase your odds of not inadvertently turning interested people away at the curb, make sure to clear those driveways and paths directly to your engaging front door.  That welcome is a subliminal good will message that will pay off in a good first impression ... that one time opportunity to make a positive impact from the start.  If you want to check that weather report, just in case, you can check your area at www.weather.com!

 Image courtesy of James DeMers/Pixabay.com

Displaying blog entries 831-838 of 838

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview IL 60025
847-310-5300
Fax: 847-400-0881

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview, IL, 60025

(847) 310-5300
Allyson@Allyson.com

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