Deer Park & Barrington IL Real Estate

New Short Sale Listing - Great looking!

The Obama administration outlined these guidelines on December 1st to hopefully roll out in the next few months for Short Sales.  Typically a Short Sale (when the lender accepts less than what the balance is on a mortgage as paid in full) takes a long time (months) to accept from the lender and is very labor intensive as far as guidelines and paperwork from each individual lender.  Sometimes the offer is not accepted and all the work is for nothing.  The new guidelines will help the process tremendously in my opinion and many others.

New guidelines:

Sellers that successfully sell their homes through a Short Sale are awarded $1500 to help pay for relocation costs.

Up to $1000 per case awarded to the lenders if they successfully close

Up to $1000 for investors per closing

Up to $3000 for 2nd lien holders per closing

Realtor commissions will not be negotiable (banks cannot cut in order to accept the deal)

Many bigger banks are implementing changes to get in line with the guidelines.  My real estate team and I have already experienced some of the bigger banks changing their systems to smooth out and shorten the process of the Short Sales.  This will allow us to do more Short Sales and less foreclosures.  Now all we have to do is educate the general public on what a Short Sale is and how it can benefit them over a foreclosure. 

If you are looking at your options and want to know what this all means, contact me and I will help you in whatever way I can.

New Short Sale Listing in East Dundee Illinois - Shows Great with so many Upgrades

Are you thinking about how to get out from under your mortgage?  You have more month than money?  So many people are in the position of letting the bank foreclose on their home and don’t know about doing a short sale.  A short sale may be a better choice for you. 

Real Estate Agents today are either leaving the business, learning how to work with this market through education or just winging it at the expense of clients that don’t know the difference.  Not all Real Estate Agents should do short sales, the best thing for an agent that doesn’t know how is to refer it out to someone that does know how.  I just received another assignment for a foreclosure listing that was listed as a short sale for 6 months - overpriced and no price change for the 6 months.  Big red flags that the agent was not trained, maybe it could have been sold short if it was handled properly.  Training is available through many sources, one of them being the CDPE and another great program is through Harris University, both of which I am involved in now and have been for a couple years. 

If you are looking for some information on what to do in your situation, look for experience in Short Sales in a Real Estate Agent.  Not just one listing. And ask were they trained?  The market is changing weekly/Daily and so are processes and the way we need to work with the banks with Short Sales.  In my opinion and much of what I am hearing is the Short Sales will be getting easier to get through, but there will definitely be a process we must follow for that to happen.

 If you would like more information on Short Sales or the process, contact me and we can have a confidential consultation and I can help you whatever way I can.  You don’t have to live in Northern Illinois for me to help, I have many resources.

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO

Now that the Holiday Season is upon us, many home sellers are waiting until the holidays are over to list their home.  Some home buyers are also waiting. 

What we are finding is that if you list your home for sale now during the holiday season, we have less showings but the home showings we get are serious buyers.  Let’s face it, it is probably the best time in our lifetime to buy real estate and many home buyers are realizing that.  Prices are low, interest rates are low, FHA loans are available with a minimum down payment and let’s not forget about the credits for first time home buyers and repeat buyers until spring of 2010.  This is bringing home buyers and investors out even during the busy holiday season.

The competition is also lower now vs the spring time when a majority of home sellers list their homes for sale, so you can really stand out and shine.

If you are facing a challenging time (facing a possible foreclosure or shortsale) and are procrastinating in calling a Realtor for a consultation due to the holidays.  Wouldn’t it be nice to go into the holidays and know what your options are?  My real estate team meets with people all the time and helps them see thier options and timing.  Sometimes there are options that don’t require you to sell your home.  Information is free from us.

Have a Happy Holiday Season! 

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO

New Home for Sale in Kildeer

With the ending of the New Buyers Credit and now the extension, my real estate team has not seen any change in activity.  We seem to be having the typical end of the year cash buyers looking to invest in great priced properties and a good mix of other home buyers looking to purchase when they find the right home. 

Many of the First Time Home Buyers are still sitting on the fence. Even when time was running out, it didn’t seem to phase many of them.  The $8000 didn’t seem to make much of a difference to the First Time Home Buyers we met.  Some did take advantage and still are planning to.  It is free money that I wish I had when I bought my first condo at 18% interest with no help from the government.

The new Current Home Owners Credit will help many that wished the first time credit was for them.  Now is their chance to take advantage of the real estate market.

Some of the highlights of the programs include:

First Time Home Buyers Credit -

Same $8000 Credit ($4000 if married filing seperately)

Must have not owned a home for the last 3 years

Termination of Credit is purchases after April 30, 2010

Income limits $125k single or $225k married with additional $20k phase out

Move Up/Repeat Credit-

Credit amount $6500 or $3250 married filing seperately

Effective Date November 7, 2009

Current homeowner must have lived in the home being or is sold for at least 5 of the last 8 years

Termination of Credit is purchases after April 30, 2010

The contract has to close before July 1, 2010

Income limits are $125k single or $225 married additional $20k phase out

$800k limit for new home purchase

The property cannot be purchased by a dependant

The purchaser must provide proof of purchase with tax return (see your tax accountant)

Click here > NARs website link for specifications and more information including charts on the First Time Home Buyers Credit and the Current Homeowner Credit 

This is my intrepretation of the new programs, please see your accountant or attorney for specifics on if/how you qualify.

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO

Happy Halloween to all my neighbors in Deer Park, Barrington, Lake Zurich and Palatine.

Our day was chilly (44 degrees was the highest I saw) with the sun shining for most of the day.  Aside from summer, fall is my favorite time of year with the leaves colorful and a little chill in the air.

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 Are you looking to buy a home in the Lake County Illinois Area to enjoy the midwest fall?  Give us a call.

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO

Halloween is approaching and the search is on for Haunted houses in Lake County.  Here is a partial list with their websites to discover.

 Dungeon of Doom in Zion -  http://www.dungeonofdoom.com/

St Matthews Haunted House in Hawthorn Woods - http://www.stmatts.net/haunted/

X-treme Hauntings Haunted House in Fox Lake -  http://hauntedhousechicago.com/

Realm of Terror Haunted house in Round Lake Beach - http://www.realmofterror.com/

Fright Fest in Gurnee at Great America - http://www.sixflags.com/national/index.aspx

One in the City of Chicago not to miss is http://www.hotelmassacre.com

If you are looking for a home in the area of any of these haunted houses contact my team and we will help you take advantage of the opportunities in the housing market.

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO

2008 Art in the Barn -  Look for updated pictures after the event

This weekend Saturday and Sunday - 35th Annual Art in the Barnat the Good Shepard Hospital Campus located at 450 W. Route 22, Barrington from 10-5 Saturday the 26th and Sunday the 27th.  There will be over 170 Local and National Artists that will display their work.  Some of the items will be Acrylics, Drawings, Ceramics, Photography, Glass Art, Sculpture, Wood carving and more.  Aside from the art there will be food, music and children’s activities. Admission $5 and children under 12 free.  Free parking.  I will see you there…

October 2-4 Long Grove Apple Festival -  The apples should be delicious this year with what I hear was perfect apple growing weather.  There will be at least Apple pies, Apple Cider, Apple Donuts, Caramel Apples, Apple Skewers,  Apple filled cookies, Lattes, Martinis , Slushies,Apple Butter mmmmmmmmmmmm!!!!!!!!!!!  Lots of food and music to enjoy.  There will be music for everyone to enjoy and children’s activities including pony rides, face painting and the girls Apple Pageants visit www.applefestivalcontests.webs.com.  For a schedule of events visit www.longgroveonline.com.

As a Real Estate Agent sometimes we lose site of what the Home Seller already knows about listing thier home.  Here is some help if you are thinking of selling your home. 

Questions to ask a Listing Agent during your Interview to Sell Your Home

What is your marketing plan for this home?

What makes you different than other agents?

Why should I list with you?

Do you have a real estate team?  How accessible are you?   How quickly can you show my home?

Do you work Full Time?  Nights and Weekends? 

Where do most of your buyers come from?

How many homes have you sold this year so far?

Where are you on the internet?

How do you communicate with your clients?  Do you have a Blackberry?

Where are most of your listings?

Where is your Real Estate Agent Sphere?  How big is your database of Real Estate Agents?

What is your Listing Sales vs Buyer Sales Ratio?

How long have you been practicing Real Estate?

How will you find buyers for this home?

Will you have a Virtual Tour?

What awards to you have?

What do you think about Open Houses?

What is your Market Analysis on this home?

Where is your office? (if far) Is this going to be a problem?

I visited Makray Golf Course for lunch with a great friend today.  The golf course is beautiful, they have done a great job with the reconstruction of the course and clubhouse.  The ambiance could not be better.  How lucky are the home owners around the golf course?  We ate at the Oak Terrace Grille, they have a great menu, I have not ever had a dissapointing meal there.  Their banquet facilities are top notch and so elegant, with top service and food.  There is a lovely terrace with breathtaking views (see below) overlooking the golf course.  I have attended 3 golf outings there so far and look forward to the next.  What a great part of our Barrington community.

If you would like to find a home near this golf course or any other, contact my team and we would be happy to help you!

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO

Cook County Illinois is offering an up to $14999 American Dream Down Payment Initiative on top of the $8000 Tax Credit for those that qualify (Low to moderate income and first time home buyers).  This is a no interest, no payment, 5 year forgivable loan secured by a junior lien placed on the property after the first mortgage is recorded.  Yes that is right you could get $14999 plus $8000 which equals $22999 towards your new home. The $8000 Tax Credit expires at the end of November so don’t procrastinate and take advantage now if you have been sitting on the fence waiting for the right time to buy a home.  Interest rates are low, what else are you waiting for?  If only this was available when I was buying my first home.  I paid 18% Interest for my $69k 2 bedroom Condo in Ballard Point Subdivision in Des Plaines.  You are right, I am older

I will share some of the highlights of the Cook County American Dream Down Payment Initiative but there are too many to list here.

• Expiration - until the exhaustion of funds (last year exhausted in December)
• Eligible Mortgage programs - FHA
• First Time Home Buyers only - yes
• Income Requirements - yes
• Home Buyer Education - yes - http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?weblistaction=search&searchstate=IL
• Co borrowers - yes
• Property Location - Cook County (not all towns)
• Maximum purchase amount - $275200
• Eligible Properties - Owner occupied only, 1 unit, Existing/New Construction
• Assistance amount - 6% of purchase price of home or $10,000 whichever is greater, not to exceed $14999
• Acceptable use of funds - Down-payment, additional down payment or closing costs
• Interest - None
• Term - 5 years (if you stay in the home 5 years you don’t have to pay anything back)
• Payments - None
• Forgiven - Yes, 20% on each anniversary date
• Prepayment Penalty - None
• Shared appreciation - None
• Default - Sale, Transfer, Vacate Property or refinance.
• Timing - at least 30-45 days for approval

Too many other details to list, please contact one of my team members to assist you in finding out if you qualify and the details of this great program.

Posted By:  Julie Anne - The Julie Anne Real Estate Team at Keller Williams Success Realty

Northern Illinois Real Estate Agent - Barrington - Deer Park Real Estate Expert and surrounding areas

847-620-5815   julie@homesbyjulieanne.com

What is my homes value?              Homes for sale in Northern Illinois, Barrington Homes for Sale - Deer Park Homes for Sale

CDPE Certified for Short Sales and REO