FEATURED LISTING:
WWW.151DALE.COM4BR/2C GARAGE/HUGE YARD & POOL!
PLAINFIELD, IL
$224,900
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THE "HOUSE HUNTERS"
"Available 24/7/365"
Serving Chicago South Loop & Western Suburbs:
PRINTERS ROW - UIC - TAYLOR STREET- GREEK TOWN - LA GRANGE - RIVERSIDE - BROOKFIELD - WESTCHESTER - BELLWOOD & MAYWOOD (FORECLOSURE & REO) - DOWNERS GROVE - WOODRIDGE - LOMBARD - HINSDALE - ELMHURST - OAK BROOK - WESTMONT - DARIEN - BURR RIDGE - WILLOW SPRINGS - GLEN ELLYN - WHEATON - PLAINFIELD -ST. CHARLES - GENEVA - BATAVIA and More!
Click Below Link to Find out if You Qualify for VA Loan
VA Loan Eligibility Form
Or Call Edgar Villa - VA Loan Specialist (312)929-8060
We Welcome Back Our Military Heros!
SEARCH: HOMES - CONDOS - REO - FORECLOSURES
EMAIL ME FOR A LIST OF AREA SHORT SALES!
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BREAKING REAL ESTATE NEWS!MAY 14, 2010
Average Home Prices in Chicago's Western Suburbs are still dropping and vary from the low $200K's to $250K for a 3 bedroom home (not foreclosure or short sale). In researching, I have found that the Chicago Tribune has a Median Home Price Map that indicates areas and average prices of homes in these western suburbs. I recommend Westchester, Darien and North Bolingbrook Illinois for the best deals and move in ready homes near shopping and highway I-355 and Route 83.
APRIL 25, 2010
$8,000 HOMEBUYER CREDIT EXTENDED TO U.S. MILITARY:
- Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual's spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
- In many cases, the credit repayment (recapture) requirement is waived for members of the uniformed services, members of the Foreign Service and employees of the intelligence community. This relief applies where a home is sold or stops being the taxpayer's principal residence after Dec. 31, 2008, in connection with government orders received by the individual (or the individual's spouse) for qualified official extended duty service. The credit is still allowable even if this happens during the year of purchase. Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer's principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters. Extended duty is defined as any period of duty pursuant to a call or order to such duty for a period in excess of 90 days or for an indefinite period.
SOURCE: IRS.GOV (TAGS: VA Loans, $8,000 Homebuyer Credit U.S. Military, Military Homebuyer Credit April 30, 2011)
APRIL 20, 2010
NEW TREND IN REAL ESTATE "CONDO CONVERSIONS": While banks are reportedly expecting more foreclosures over the next 12-16 months, property values are expected to stagnate even more.A recent trend that I am seeing in the real estate market is with apartment buildings.Most have lost 20-50% of their value and one option is converting them to condos.
An (8) unit apartment building may be worth $300K in today's low market, a conversion can reap $100K-$150K per unit and buyers will be more ready to afford in that price range, especially new graduates just starting out in their careers or downsizers.
In today's Buyer's market, it's all about "affordability.
MARCH 26, 2010
SHORT SALE AND REO HOMES: The REO inventory is dwindling down (HAFA Short Sales 'new changes!') many more homes will arrive on the market heavily over the next several months. Most of these homes are still great buys at 30%-50% of market value and great opportunity for first-time Buyers, Flippers and Investors.
If you need Exclusive Buyer Representation on a REO or FHA home, don't delay. Call me today to get started (708)369-8094.
MARCH 25, 2010
EDGAR VILLA (Guaranteed Rate in Oak Brook) just informed me yesterday that the FHA upfront PMI insurance cost will jump April 5th from 1.75% to 2.25%. AND this summer FHA will possibly make additional changes that will affect QUALIFYING for FHA loan. FHA is looking to make the following changes:
1)If your credit fico score is less than 580, you will be required to put 10% down vs. the current 3.5%. These are major changes for Buyer's looking to save every penny and reap some value.
2)Seller concessions (Seller down payment assistance) may be reduced from the current allowable 6% to 3%
These are major changes and will require today's frugal buyers to dig deeper into their pockets to buy a home.
But on the other side of the coin, we have many homes (REO and new HAFA Short Sale changes) that many homes are still great buys at 30%-50% of value. Several hundred more are coming on the market over the next several months, so the deals are out there and will continue for some time until all these foreclosures are gone.
Bottom line, Buyer's are still ahead of the game.
MARCH 25, 2010
SHORT SALE NEWS: As More Short Sale Homes Expected to Come on the market through 2011, more servicing will be needed - Starting April 5, 2010 HAFA will allow short sale/foreclosure homesellers to know at what price and terms their lender is willing to accept a short sale in advance. This will make it easy for buyers of short-sale homes by knowing in advance what a minimum offer a bank is willing to accept. And the federal government will begin offering lenders financial incentives to hasten the process. Under the new rules, banks will seek a BPO (BrokerPriceOpinion) before the property is listed for sale and let the sellers know a minimum number they are willing to accept. If the sellers bring a buyer with a good offer, the lender must accept it within 10 days. Not all sellers are eligible for the program, dubbed the Home Affordable Foreclosure Alternatives (HAFA), but enough are that it is probably worth waiting. Read more here...
FEBRUARY 20, 2010
FED RATE HIKE - What does it mean? It means rates are on the rise, SLOWLY but surely the economy is revamping itself!FEBRUARY 16, 2010
Find out if YOU Qualify for the $8,000 First Time Buyer Credit and $6,500 Credit for Exisiting Homeowners
JANUARY 29, 2010
URBAN LAND INSTITUTE REPORTS ON FUTURE OF REAL ESTATE: GEN X, GEN Y AND THE NEXT 10 YEARS JANUARY 23, 2010
THIS WEEKS TOP PICK COMMUNITY IS NAPERVILLE - 30-50% price reductionse $250K, $280K Naperville Central High School District CALL TODAY FOR LISTINGS 708/369-8094
JANUARY 19, 2010
FORECLOSURE BANK OWNED HOMES JUST LISTED - Hillside $109K, Berkeley $135K, Bellwood $87K, Downers Grove $125K, Woodridge $130K, Darien $139K - FREE SEARCH AT bottom of page or call for details (708)369-8094!
JANUARY 16, 2010
GORGEOUS HANOVER PARK Homes - for under $150K! (Bank owned homes) Call for details (708)369-8094!
DECEMBER 29, 2009
NEW ILLINOIS LAW - STARTING JANUARY 1ST, 2010 TO BAN USE OF CELL PHONE USE IN SCHOOL ZONES AND TEXT MESSAGING WHILE DRIVING - NEW ILLINOIS DRIVING LAW
DECEMBER 10, 2010
CHANGES TO FHA - MORE MONEY FROM BUYERS, 3.5% DOWNPAYMENT TO BE INCREASED AND MORE - HUD TO PROPOSE
DECEMBER 9, 2009
FHA proposing higher down payments, other changes. Citing a need to boost its reserve fund solvency, the Federal Housing Administration (FHA) is proposing program changes that could include higher down payments, changes to premiums, a possible FICO score floor and reduction of seller contributions. Read NAR President Vicki Cox Golder's testimony before a Congressional committee on the proposed changes.
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PLANNING A ROOM ADDITION OR REMODEL? Contact the best local architects and contractors for your next project: Bathrooms, Kitchens, Redesign, Additions, Sunrooms and more. Licensed, bonded, insured.
Michael Finder, ARCHITECT - NCARB, LEED AP: LA GRANGE, IL 773/860-1969
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BUYERS TAKE ADVANTAGE OF MY $1,000 CASH BACK COUPON!
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Click here to access useful tools and information  that will assist you in finding the "perfect" home -- begin searching home listings now, set up automatic email "alerts", get a free homebuyer's checklist, and more ...
For FHA, VA LOANS and 203K LOANS contact Edgar Villa at (312)929-8060 and get pre-qualified in 10 minutes! |
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To get a pre-qualification, all you have to do is call! Takes 10 minutes of your time to find out what you qualify for based on the information you give the lender and pre-approval takes 10 days. You will be ready to purchase your new home within 4-6 weeks!
My Top Choice Lenders are:
Margaret Kapolka - Northwest Mortgage 773/586-6400
"The Mortgage Advisor" - Greg Zaccagni 630/480-0876
Edgar Villa - Mortgage Broker 312/929-8060
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Barbara Martino-Silva, Realtor®, TRC , e-PRO: Florida, Vero Beach, Chica, Islamorada
