Week of July 30 - Evergreen Park Calendar

Fri - July 30th - Evergreen Park Chamber of Commerce Golf Classic at EP Country Club, 9140 Western Ave. Shotgun start at 9am. Lunch to follow at American Legion Post 854 beginning at 1:30. Lunch only $50. All are welcome. Call 708-423-1118

Sat. - July 31st - Free Electronics Recycling 8am-1pm @ Stagg High School 8015 W. 111th St, Palos Hills. For more info call 815-931-8318.

Sat. - July 31st - South Side Theology on Tap at 6:30pm hosted at St. Bernadette for all area parishes, 93rd & Francisco. Geared to college age and 20 to 30 yr olds. Great food, beer and wine and conversation all for free. Call 708-692-7078 for more info.

Sat. - July 31st - Rummage Sale in parking lot of Most Holy Redeemer School 95th & Lawndale benefitting "Christmas without Cancer"

Mon. - August 2nd - Village Board Meeting, 2nd floor of Village Hall at 7:30pm. All are welcome.

Tues. - August 3rd - EP Chamber of commerce Meeting at the Library, 9400 S. Tray 9am.

Tues. - August 3rd - Tee off with SXU at their 14th Annual Golf Classic at Silver Lake Country Club, 147th St. & 82nd Ave. Shotgun start at 9am. Call 773-298-3311 for more info.

Thurs. - August 5th - Evergreen Park Farmer's Market at Yukich Field, 89th & Kedzie Ave from 7am - 1pm. Lots of vendors offering fruits, vegetables, flowers, crafts and much more.

Fri. - August 6th - Free Concert in the Park featuring Cirrus Falcon at Klein Park 97th and Homan from 6-8pm.

Join the YMCA Father & Daughter Adventure Princess Program. New season will be starting in September. Visit their website for more information at http://www.blackhawkprincess.com/

EP Youth Commission is going to have a tour of White Sox Park on Mon. Aug. 9th from 9:45am - 1pm. Includes tour, lunch and transportation. Call 229-3377 to make a reservation.

EP Recreation Department has openings in Cooking classes, outdoor soccer league and tickets for Shrek the Musical(Cadillac Theatre) August 13th Call 229-3373 for info.

Beginning this month, the State of Illinois is offering a new service connected to your driver's license. You can click on the link below and add two emergency contacts to your license data. Therefore, if you are incapacitated in some way, your license can be scanned and the emergency contacts retrieved so your loved ones can be contacted.
http://www.cyberdriveillinois.com/departments/drivers/ecd/home.

Chicago Area Rentals

Did you know that I have access to 1,000’s of rentals in Chicago? Actually, right now, the north and west side of Chicago alone has over 2,000 active rentals looking for you!

NOTE: Please visit the "original post" below to get your local neighborhood rental prices!


The process is quite similar to buying a home, but it is usually fast. I do the homework; you get to help in deciding the location, the properties, the amenities and more…

Start your own rental search at http://www.anopenhome.com/ and if you want to save your search so you can be updated as new rentals come on the market, you can create an account!

Thank you!
Robert Jarvis









Keller Williams Realty® - West Loop
Direct: 773-572-2362
Text: 773-852-7759
RobertJarvis@AnOpenHome.com

Bill Gassett reports "A Guide to Short Sale Facts & Myths"

I found this blog post to be completely informative and think all buyers and sellers facing today's short sales should look at this. After your done reading and would like to search for short sales in IL, please use this link from www.AnOpenHome.com

Via Bill Gassett Metrowest Massachusetts Real Estate (RE/MAX Executive Realty):

Understanding Short Sale Transactions A Guide to Short Sale Facts & Myths

A short sale unfortunately has become a common buzz word in the Real Estate industry. For those that have been hearing the term "short sale" and don't quite understand what it means, a short sale is a legal lender approved solution designed to assist a home owners who is financially strapped to get out from under their mortgage debt.

A short sale is negotiated through the mortgage holder of an owners home where by the mortgage holder agrees to take less than what home owner owes on the property.

A quick example of a short sale would be if a home owner owes $400,000 on their current mortgage and their home is only worth $350,000. The lender in this example would agree to take a short fall of $50,000 at closing.

In some cases the mortgage holder may completely wipe out the debt and the home owner does not have to repay the 50,000. Many lenders may require a seller to sign a note and repay the debt over a certain amount of time. Typically the debt will be reduced and the owner may receive favorable repayment terms of the short fall.

There is quite a bit to know about short sales from both a buyer's and seller's perspective. I have been successfully been completing Massachusetts short sales over the last three years. In fact (knock on wood) I have never had a short sale that did not get approved! Successfully completing a short sale is about understanding the process.

Many consumers make extremely poor choices by working with Real Estate agents that don’t have a lick of experience with getting short sales approved. Picking a good short sale Realtor is critical to your success.

The following is a number of specific topics about short sale transactions that you would want to be aware of if you are planning to either buy or sell one of these types of distressed properties.

Stop making mortgage payments during a short sale? ~ Whether or not a home owner should continue to make mortgage payments is a common question that many sellers want to know when considering a short sale. The most common answer to this question is YES, however it really depends on the lender! Click the link to understand all the considerations.

Picking the right short sale Realtor ~ Picking a Realtor to work with in a short sale is very different than a traditional transaction. You want to work with an agent that has experience successfully closing this type of transaction. Remember as a seller you could potentially be facing a foreclosure. There are many mistakes that are made by agents handling short sales. Don't get caught with your pants down!

Questions to ask a short sale listing agent ~ If you are thinking about buying a short sale there are some specific questions you can ask the listing agent to determine the probability that the short sale will be approved or not. These short sale questions will also help determine if the Realtor handling the short sale knows what they are doing!

Acceptable hardships for a short sale ~ On many occasions when doing a short sale the lender is going to require some kind of hardship on the part of the seller. Short sale hardships however, have become less rigid recently and some lenders are becoming more concerned strictkly on whether the short sale would benefit them more than a foreclosure sale.

Short sale tax consequences ~ Understanding the tax consequences in a short sale is one of the most important considerations for a home seller. Whether the short sale home was a primary residence or an investment property can have different tax implications.

Getting short sale debt released ~ Getting the debt released on a short sale is obviously a very big deal. Many Realtors that are working with short sales don't have any knowledge of how to get the debt released. A seller needs to pay particular attention to this detail as you can expect to be hearing from a collection agency without it!

When to do a short sale home inspection ~ This topic is important to understand from both a buyer's and seller's perspective. A home inspection should be done before short sale approval and NOT after. Read the article to understand why it benefits both the buyer and seller to do so.

Strategic default vs short sale ~ There are many home owners who are deciding just to walk away from their homes. Fannie Mae has started to crack down on this practice and is now penalizing borrowers from getting a mortgage for up to seven years! A perfect alternative to a strategic default is a short sale.

These articles were published on my Massachusetts Real Estate blog where I talk about numerous topics that are important to consumers who may be thinking about buying or selling Real Estate.

I am successfully completing short sales through out the Metrowest Massachusetts area. So far, knock on wood, I have a 100% success rate for short sale approval! If you need to complete a Massachusetts short sale please feel free to get in touch.

If you are outside of the Metrowest Massachusetts area and need to do a short sale please give me a call or email and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country.

__________________________________________________________________________________________________

About the Author: The above Real Estate information on understanding short sale transactions was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.

Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!

For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham and Douglas MA.

Click here to view Bill Gassett's Real Estate profile.

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years.

Daily Herald reports imposing a new stamp on homesellers

Read the full story here http://www.dailyherald.com/story/?id=394690&#storycomments and take note of the case of foreclosures.... with 1,000's of foreclosures in Kane County, that's a lot of homes!

My response is NOT to introduce this new stamp on foreclosures. The buyers ultimately will have to pay these unpaid bills prior to closing on that property, especially when the stamp can be refused for unpaid ambulance bills or parking tickets!

Now Cook County is looking to follow a similiar path. See the article here: http://www.chicityclerk.com/legislation/sublegmatters/2010/june9/Aldermanic/26MALDO%20PR2010-46.pdf and contact your local officials to help the real estate market recover, not hurt it more.

An increase in the transfer tax on foreclosure or in lue of foreclosure properties imposed on the banks will ultimately fall on the buyer of foreclosure properties. Most area's in Chicago will not benefit from this additional tax, especially today when we have half number of qualified buyers!

Robert Jarvis Signature Properties

When selecting a Realtor, select a friend who you trust - someone who will give you all the facts you need to make the right decision. I promise to always remember my job IS that important!

Robert Jarvis

mailto:robertjarvis@anopenhome.com

Website: www.AnOpenHome.com

Direct: 773-572-2362
Text: 773-852-7759

Mission Statment

To create long lasting relationships and trust through knowledge, integrity and commitment.

To understand how important my job is in the lives of others and to continuously ‘awe’ them with my customer service.

To ensure success to every family who entrusts me with their real estate by making the most of their hard earned equity.

To treat your investments as if they were my own because your home is where you build your lives.

To always remember that my job IS that important!

525 Hawthorne Place Condo's

Be sure to visit http://525Hawthorne.AnOpenHome.com for updated content!

Unit 408 at 525 Hawthorne Place FOR SALE! MLS # 07426800

See Complete Sales Data for 525 Hawthorne Place here

Built in 1969 as a rental property, Hawthorne Place converted to condo's between 2002 and 2005. There are 30 stories and 232 condominiums.

The building has two main elevators and one freight elevator. There are 2 on-site laundry facilities (2nd to open in August 2010), and exercise room, sundeck, pool, bike room, on site dry cleaners, vending machines, ATM machine, 24 hour security, on-site management office and maintenance and Parking Garage with 145 spaces.

In 2007, the building had under gone a $1.4 million to update the facade, window repairs and modernization of the elevators which did result in a 60 month special assessment.

In 2009 / 2010, the building undertook another multi-million dollar update of the heating, air conditioning and ventilation systems resulting in $100,000's of annual savings. This did not result in a special assessment to the owners.

Contact me for more information!

Robert Jarvis

RobertJarvis@AnOpenHome.com
http://www.anopenhome.com/

Open House / 739 Cornelia Unit N1

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MLS ID: 07444108

Stop by for a no hassle tour of the property and
ask about getting no hassle rental lists, over 2,000 throughout Chicago!

Visit www.AnOpenHome.com for more Details or access to Open Houses through out Chicagoland!

I just received a $25 Visa Card!

I just received a $25 Visa card for taking an online survey that was emailed to me and then suggesting to Fannie Mae a home-buying program that would buy down your interest rate for two years and that money would be put in an account for you to use however you wanted at the end of the two years!

Question: Would this program interest you or your buyers in buying a bank-owned property today?

I only ask because they were suggesting in the survey stuff like: inspection credits to take at closing, buy down rates for next two years, including pre-inspections for the buyer, and appliance reimbursements...

I know there are many home-buying incentives (many of which I am trying to learn), but it seemed to bother me a little when I saw "buy down your interest rate" and when I read between the lines, at the end of two years, the interest rate would hike back up. I feel that if a buyer where to become accustomed to a specific monthly payment for two years, then at the end, the monthly payment would raise to the predetermined figure, isn't that just slightly close to predatory?

The New Mortgage Approval

"Cleared to closed" may not mean "cleared to close".

We are all familiar to the Pre-Approval Process and most of us have migrated to Mortgage Bankers and Brick-and-Morter Banks. This past month, Fannie Mae has announced new updated requirements to the LQI (Loan Quality Initiative).

A second Credit Report will be pulled just prior to closing to assure that no new activities have occured on the buyers reports. Now, more than ever, the Home Buying Bible The Ten Commandments are more important than ever.

This also includes buying appliances, furniture, or any large ticket item on a credit card. DO NOT DO IT. All big ticket items must be paid in cash, or the loan will not pass the second credit report check.

Real Estate Agents, and Loan Officers, all need to reinforce these buying habits in our buyers.

The Ten Commandments when applying for a loan

When Applying for a Real Estate Loan

1. Thou shalt not change jobs, become self-employed or quit your job.
2. Thou shalt not buy a car, truck or van (or you may be living in it)!
3. Thou shalt not use charge cards excessively or let your accounts fall behind.
4. Thou shalt not spend money you have set aside for closing.
5. Thou shalt not omit debts or liabilities from your loan application.
6. Thou shalt not buy furniture.
7. Thou shalt not originate any inquiries into your credit.
8. Thou shalt not make large deposits without first checking with your loan officer.
9. Thou shalt not change bank accounts.
10. Thou shalt not co-sign a loan for anyone.

2645 W 98TH Street, Evergreen Park 60805

If the 30+ photo's in this photoblog do not display, click on the title bar and the slide show will begin! Let me know if you have any problem!

thanks, Rob...

Contact: Robert Jarvis - Keller Williams Realty
Call or Text: 773-852-7759
Website: http://www.anopenhome.com/

Newer! BEAUTIFUL OPEN 3 BEDROOM / 2 BATH MULTI LEVEL DREAM HOME READY FOR YOUR ARRIVAL!

1990 CONSTRUCTION, GORGEOUS SUN SOAKED EAT IN KITCHEN WITH SKY LIGHT, GLEAMING HARDWOOD FLOORS THROUGH OUT.

SPLIT LEVEL W/ ROOM FOR OFFICE, SEPARATE FAMILY ROOM OR KIDS PLAY SPACE, LARGE SUB BASEMENT TO EXPAND.

GENEROUS 2.5 CAR GARAGE W / EXTRA (3RD) SPACE FOR GUESTS.

GREAT SCHOOLS AND GREAT HOME.


2008 Taxes: $4,712

Master Bedroom: 14X11
2nd Bedroom: 14X9
3rd Bedroom: 10X10

Living Room: 16X12
Dining Room: 9X9
Kitchen: 14X10
Family Room: 21X12
Office: 10X10

#3. Get Rid of Evidence of Kids

OK, well, let’s not get rid of the kids! It's just that your home needs to appeal to the largest audience. It's ok to let potential buyers understand your home is "kid-friendly", but make sure it doesn't look like every neighborhood kid has a place in your home. You are not running a day care center; you're trying to sell your home.

Get rid of strollers on the porch, inflatable kiddy pools in the back yard and any toys that may be lying around in the hallway. Get rid of baby gates and make sure there are no handprints or crayon drawings on the wall. Studies have also shown that homes that have kid’s stuff strewn about are considered to be less hygienic or valuable than those that don’t.

MSN Home Page "17 secrets real-estate insiders won’t tell you"

Yup, 17 real estate secrets revealed", then to make it sound facinating, they script the text below to say: "Find out what the industry insiders don't want you to know. Like the fact that you can probably sell your home without hiring an agent."

I had to read all 17 pages and here are the results of their "real esate insider burns".

Real-estate agent: "My fees are negotiable."
Real-estate agent: "You can probably do this without me."
Real-estate agent: "I know zilch about zoning."
Home inspector: "Your idea of a home inspection isn't necessarily the same as mine."
Home inspector: "I'm not climbing up on your roof."
Home inspector: "I've been known to cause more damage than I find."
Homebuilder: “I’ll build your house on marshmallow.”
Homebuilder: “I won’t just cut corners — I’ll sever them.”
Homebuilder: “Your warranty may be worthless.”
Contractor: “My license is laughable.”
Contractor: “I’ll be back when I feel like it.”
Contractor: “If it looks good, I don’t care if it’s done right.”
Landscaper: “My sprays are real killers, all right.”
Landscaper: “Don’t expect a refund if your garden croaks.”
Landscaper: “What I’m doing won’t necessarily make your home more valuable.”
Architect: “You may not need me at all.”
Architect: “My drawings aren’t really builder-ready.”

Well, it was a fun read while it lasted... It's funny how the media can draw you in. But, buyers and sellers should be aware and check references, check with local ordinances, etc...

525 West HAWTHORNE Place CHICAGO IL 60657 | Keller Williams Realty

Be sure to visit http://525Hawthorne.AnOpenHome.com for updated content!

See Complete Sales Data for 525 Hawthorne Place here

525 West HAWTHORNE Place CHICAGO IL 60657 Keller Williams Realty

Flood Insurance Program Extension

Also on June 30, the Senate passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), extending it until September 30, 2010. This retroactive bill will allow transactions to move forward and covers the lapse period from June 1, 2010 to the date of enactment of the extension.

"This is great news for home buyers and sellers who live in flood-prone areas and the REALTORS® who work with them," said C.A.R. Past-President Mike Golden, co-founder of @properties. "Especially in the suburbs, where there tend to be more floodplains, this extends critical insurance coverage opportunities to people who might otherwise not be able to obtain it. I applaud this legislation."

** As reported by the Chicago Association of Realtors

Homebuyer Tax Credit Closing Extension

Homebuyers and REALTORS® in Chicago and nationwide can finally exhale: on June 30 Congress passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The new closing deadline for eligible transactions is September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law.

"The Homebuyer Tax Credit has had an extremely positive affect on the housing industry and the economy, and been a boon to thousands of American families who used it to achieve the dream of homeownership," said C.A.R. President Genie Birch, ABR, GRI, CIPS, Broker Associate with Koenig & Strey Real Living. "Without this extension, the tax credit’s full benefits would not have been realized. We are grateful to the Congressional leaders who helped enact this legislation."

NAR worked closely with Congress on both sides of the aisle to achieve the extension, which will provide additional stability to real estate markets in Chicago and across the nation.

** As reported by the Chicago Association of Realtors