Chicagoland Northwest Suburbs | Real Estate & Community » Consumer News

Chicagoland NW Suburban IL Real Estate: What is Your Property Wish List?

joestacy — Thu, 15 Jul 2010 03:44:16 +0000

So, what do you want when it comes to a home?

Imagine this situation: you are shopping for a new home in the Metro Chicago area – you have narrowed your search down to somewhere in Northwest Chicagoland. BUT! Here is the dillemma. What do you do next? What do you want from a home?

Well, making a wish list of features is probably a good idea ! So start by making a list of dream home features. This sounds easy! But, it might be tougher than you think!

Take some time to stop and have a good think – what do you want from a new home in Schaumburg, Hoffman Estates, Bartlett or the surrounding area? What do you see in your mind as the perfect home?

Here some categories to divide the list into:

Location – Or shall I say, “Location, Location, Location”! How far is work? Where are shops and restaurants?

Neighborhood – Are their features in a particular neighborhood you like? (a clubhouse or community park for instance) or is there a school district you want to be in or remain in?

Style – Modern? Traditional? Open Floor Plans? How about the type of properties – condos or single family homes mostly?

Property Features – a pool? Hot tub? a mother in law suite? three car garage? games room? are these features sounding less than usual? Decide what you want from a home that could help narrow the search!

Property Condition – did you want brand new home, a fixer upper or something in between!?

Of course this list is not exhaustive and there are many factors that influence a home purchase – in essence this is just the starting point, but don’t worry I am here to help!

Whether you are a first time buyer trying to determine how much you can afford, or an experienced buyer who is selling your current property and ready to buy your next home I can help you with all your real estate needs in the Chicagoland Northwest Suburbs Area.

Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Bartlett IL, Schaumburg IL and the Hoffman Estates using our complimentary MLS Search service. You can also view our fantastic range of featured properties!

Alternatively please contact me today if you need more specific assistance in your real estate needs. You can call the office on: 847-874-6731 or Cell phone on: 847-913-2606 or of course email me at: Joe@JoeStacy.com

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & Community News: Making a Dent to those Summer Power Bills – Cutting Electricity Costs

kinetic — Tue, 13 Jul 2010 04:28:24 +0000

Here in Suburban Chicago we are so lucky, we have some gorgeous real estate in Schaumburg, Hoffman Estates and in Bartlett, our homeowners enjoy great communities and an enviable quality of life which causes us to be a relocation destination considered by many.

However, while we as a community may be unique and desirable, there are always those boring, everyday life situations that you cannot avoid – such as; bills! Namely your electricity bill.

As we all know, small habit changes can add up to big savings when it comes to electricity. During the summer of course we turn the air down and our bill goes up! Here are some tips to use this summer to help cut the bill down to size:

1. Unplug devices: don’t just switch them off! Unplug from the outlet!

2. Replace Bulbs: switch out old fashioned lightbulbs with compact fluorescent Light bulbs – these last ten times longer than traditional bulbs and will pay for themselves in six months.

3. Replace Appliances: Energy Star Rated only! These use alot less energy and save you big bucks over their lifetime.

4. A/C Timing: Turn it up when you are out during the day and turn the temperature down when you are in.

5. Lights Out: Turn off the lights in rooms you are not using.

Savings are not always immediate but these small habit changes will pay dividends over months and years!

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & Community News: County Sales Tax Being Reduced – Great News For Chicago Suburbs!

joestacy — Wed, 30 Jun 2010 15:47:56 +0000

Exciting news for all of us – particularly those shoppers, here in Cook County!

Ok, I know that the talk of taxes and tax rates can either make people fall asleep or stand bolt upright to attention, but this change in taxes is a great thing for Cook County and the NW Chicagoland suburbs as a whole.

Sales taxes are dropping half a percentage point.

There is a rollback in the county portion of the sales tax, which was originally increased back in 2008. This drop will mean that here in Schaumburg, Hoffman Estates etc rates will be 9.5% from 10%. Withing the City Limits of Chicago it will drop to 9.75% from 10.25%.

These may sound like small savings but over a year or so they can really add up. Small business owners in the area are delighted at the move as it can help drive more local foot traffic.

Don’t forget that Schaumburg has international shopping destinations like the the Streets of Woodfield shopping center and more!

NW Chicagoland’s suburbs make a great place to live, work, shop and play!

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & Community News: New Mortgage Modifcation & Short Sale Options

joestacy — Mon, 28 Jun 2010 13:59:50 +0000

With the economy dragging itself up often some of the issues we have talked about in recent history – i.e. the last couple of years – have started to be talked about a little less. Short sales, foreclosures etc.

However these are still important issues that should be at the forefront of everyones mind – short sales make an excellent bargain for buyers and a viable exit strategy for sellers.

Of course sellers may also be able to choose to modify their existing mortgage to easy their financial burden.

However, there are some new efforts by the current Federal Government which are sweetening both options.

Now, mortgage modificaitons can include second mortgages as well as first and there are cash incentives to make short sale deals better:

Mortgage modifications are designed to make the home loan more affordable, typically by reducing the interest rate, extending the term of the loan and, less often today than previously, by reducing the principal. Under Making Home Affordable’s new second-lien program, borrowers whose first mortgages are modified will automatically have payments reduced on their second mortgages as well, provided the first and second-mortgage lender participates in the program. Currently there are 12 mortgage servicers which do, including some of the big banks: including, Bank of America, Wells Fargo, Countrywide, Citibank, and Chase to name a few.

Homeowners looking to modify their first mortgage must be an owner-occupant of the home; have an unpaid principal balance that is no more than $729,750; have a loan that was originated on or before January 1, 2009; have a mortgage payment (including taxes, insurance, and home owners association dues) that is more than 31 percent of their gross monthly income.

Under the new second mortgage program, in addition to lowering the payment, lenders can also opt to erase a borrower’s second mortgage in exchange for a lump-sum payment from the government.

New short sale incentives; lenders can receive a $1,000 payment from the U.S. Treasury for allowing the owner to sell the house for less than the amount owed on the mortgage and for accepting the proceeds as full repayment, rather than treat it as a short sale.

Lenders can also receive $1,000 for accepting a deed-in-lieu transaction, in which the deed is simply transferred to the lender instead of going through a costly foreclosure.

Homeowners who agree to short sales or deed-in-lieu deals can receive up to $1,500 in closing costs. To help stop second mortgages from blocking the deal, the Treasury will pay second lien holders up to $1,000 to relinquish their claims in such transactions.

This is definitely exciting news for homeowners and buyers as these measures should hopefully speed up short sale transactions!

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & News: Summer Home Care in NW Chicago

kinetic — Fri, 18 Jun 2010 06:11:46 +0000

Summer is here and if you are like me, you are naturally looking forward to the barbecues, parties and 4th of July celebrations that signal the summer to many.

But, we have to be serious for a minute. It may sound boring, as looking after your home can be a tough task. But using this summers weather and longer daylight hours..get out there and do some work on your home! Remember that a well maintained home will give you less trouble and can maintain its value better. Spending a little time giving your home the once over can save thousands in potential future repair bills.

So here are my tips/areas to focus on in summer home maintenance in Northwest Chicagoland Suburbs:

1. Outside space – pressure wash the outside of the home, check patios for cracks and repair. If you have a deck, now is the time to check for any rot and replace any problem pieces of wood and if needed, treat and seal.

2. Roof – Debris and dirt can build up on a roof thanks to storms, heating and cooling, so the message here is CLEAN, CLEAN and CLEAN SOME MORE! Roof’s are fantastic as they last for years and work so well that people generally do not spend any time on them. But, a little time spent on maintaining it can save you thousands of dollars in potential repairs. Replace broken slates/tiles and visually inspect for problem areas. If you do not want to get on the roof yourself, get a roofing contractor/home inspector to have a look and inspect it for you.

3. Water/Piping – Check exposed pipes for loose joints, cracked pipes and leaks across your whole piping system. Also, a great thing to do is to drain your water heater tank if you have one – this will help clear any sediment build up. This can add years to the lifespan of the tank. Also, if you have a septic tank, why not get it pumped? Better than having the septic system back up in winter!

4. Air conditioning and heating system – give your heating and air conditioning system a maintenance check. Have the unit serviced by a professional. Change air filters to protect your home from allergent and air pollutants – this is very cheap and easy to do. This can be something that will help your general health. So worthwhile doing!

5. Recreation – service the ATV, clean the pool and hot tub, and yes, clean the grill! Use the better weather to your advantage!

We hope these tips will help you have a great, productive summer around the house!

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & News: Mortgage Market Update – Now is the time to Buy in NW Chicagoland – Rates are great!

joestacy — Wed, 16 Jun 2010 06:07:46 +0000

Mortgages, Mortgages, Mortgages!

NOT the most exciting topic of conversation – but something to talk about in the Real Estate market.

I know I have been pretty quiet about what is going on in the mortgage market. There is a reason for this – not much is going on! But this is a great sign – after the mortgage market collapse the banks and lenders have been slowly recovering and guess who gets to benefit – the consumer! If you are shopping for a loan right now you have some great deals on offer to select from – all of which contain some of the lowest rates on record!

Most buyers of course are shopping for a 30 year fixed rate mortgage – right now these are available at the lowest of around 4.375% for well qualified buyers – this is amazing! (assuming a standard origination of around 1%) – even more exciting is 15 year loans under 4% averaging around 3.875%!

Even FHA Rates are low – matching conventional mortgage rates! (Naturally FHA APR’s are higher due to MI and other FHA specific fees) – FHA loans are still popular due to their low downpayment option of only 3.5%.

Also, interestingly, Jumbo loans are stilla vailable with rates in the 5’s and VA loans are in the mid 4’s.

In short – NOW IS A GREAT TIME TO TAKE OUT A FIXED RATE MORTGAGE AND BUY A HOME IN NW CHICAGOLAND!

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & News: NAR Pending Home Sales & Home Equity Figures for the Chicago Area

kinetic — Mon, 07 Jun 2010 16:09:39 +0000

Here is some very exciting news – now just from the National Association Realtors on rising pending home sales but on Home Equity levels here in the Chicago Metro area.

However, before I mention about Housing Equity in the area I have to mention that Pending home sales have risen for three consecutive months, NAR’s Pending Home Sales Index rose 6% following gains of 7.1% in March and 8.3% in February. Pending home sales are at the highest level since October 2009. Regionally here in the Midwest the index rose 4.1% which is 17.9% above April 2009

The tax credits are of course a big part of the reason for the jump in numbers. As the home buyer tax credits brought close to 1 million additional buyers into the market which stabilized home prices more quickly and has preserved about $900 billion in home equity.

Which brings me nicely onto Home Equity news for the region from NAR!

Well, NAR has published its most current report on the wealth of current homeowners and how it changed as a result of home ownership.

The report creates a snapshot of the equity individuals who purchased a home at the median price 5, 10, 15, and 20 years ago would have built up if they had kept that home through 2009.

Interestingly for the US as a whole, the typical net worth of a renter is around $4,200 whereas the typical net worth of a homeowner is $205,200.

Locally here in the Chicago-Naperville-Joliet, IL statistical area in 2009 if a purchaser had bought a home 20 years ago they would have equity of $133,645, if 15 years ago $96,268 and if 10 years ago $62,160. Homeownership in our region is the way to go!

Click here to see the full PDF report

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate – A Green Roof For Your Home?

kinetic — Fri, 21 May 2010 17:18:17 +0000

Home renovations are expensive and when you carry them out you want to make sure they last and are worth your while! Having a “green roof” can really help save money on those monthly heating and cooling bills and make your home more attractive to eco-concious buyers when it comes time to sell!

One option for a green roof is using a Duro-Last roofing system which are designed to accommodate specific needs and are pre-engineered and manufactured specifically to decrease waste and increase the durability and energy efficiency of a building.

The Greenroofs.com Top 10 List of Hot Trends in Greenroof Design shows that there is much talk in the roofing world about green roofing. Including client specific ‘Boutique’ greenroofs, green roofing creating job growth, Rain Gardens, Stormwater Catchment and much, much more!

Why not think about a green roof for the future of your home? However, perhaps you are thinking that you might want to start with smaller renovations – simple draft excluders on doors, energy efficient light bulbs, more attic insulation can make a huge difference on your energy bill – as well as turning the heat down in winter and the air conditioning “up” a few degrees in the summer.

When I wrote about Earth Day 2010, I mentioned other programs around in the area which are part of the drive for greener living.

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland IL NW Suburban Real Estate News: NAR Says Home Prices Rise & FHA Still Important in the Mortgage Market!

joestacy — Fri, 14 May 2010 13:42:07 +0000

The Federal Housing Administration is still playing such a vital role in todays market.

It is still helping insure that there is plenty of capital in the mortgage market to keep the flood of new buyers wet with money in their pocket to purchase that home of their dreams.

In 2009, more than 50 percent of first-time buyers used FHA to finance their home purchase, and nearly 80 percent of FHA’s purchase loans were to first-time home buyers. FHA also serves those who need to refinance out of risky adjustable-rate mortgages or subprime loans with high interest rates. In 2009, approximately 835,000 borrowers refinanced into lower interest rate FHA-insured loans, saving them an estimated $1.3 billion.

What was once an obscure lending tool, has now become a mainstay product offering for many banks. However, despite its popularity, it is vital the traditional private financing be returned by the banks.

Excitingly, while there has been this increase in buyer activity, it has not just increased the number of sales, but in certain metropolitan areas across the country, home prices have RISEN!

In fact, in the first quarter, 91 out of 152 metropolitan statistical areas showed higher median existing single-family home prices in comparison with the first quarter of 2009, including 29 with double-digit increases! This is big news! Sales increased from a year ago in 44 states and the District of Columbia; 31 states and D.C. saw double-digit gains while two were unchanged and four were down. Where prices didn’t rise or fall they hovered unchanged – which is also GREAT NEWS as it is a sign of a stable market.

Here out in the Midwest, the median existing single-family home price slipped only 0.8 percent to $130,600 in the first quarter from a year ago. Existing-home sales are 10.8% above the first quarter of 2009.

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194

Chicagoland NW Suburban IL Real Estate & Community: Fathers Day 2010 is coming for Schaumburg, Hoffman Estates and Bartlett IL!

joestacy — Wed, 12 May 2010 13:06:34 +0000

Father’s day is a magical time for many dads – a chance for them to enjoy something from their kids in return for all the effort they put in all year!

According to Wikipedia, Father’s day is celebrated in 52 countries around the world on the third Sunday in June, here in the United States the day has mixed beginnings, but it was not until President Calvin Coolidge recommended it as a national holiday in 1924 and then in 1966, President Lyndon Johnson when made Father’s Day a holiday to be celebrated on the third Sunday of June that interest started to grow. However, that said the holiday was not officially recognized until 1972, during the presidency of Richard Nixon.

Here in Schaumburg, Hoffman Estates and Bartlett IL there are always many things to do with the kids to celebrate Fathers day. For instance there is the Fly in Breakfast at Schaumburg Airpark, sponsored by EAA Chapter 153 featuring the Woodfield Composite Squadron of the Civil Air Patrol IL-075, held on Fathers Day itself! Featuring airplane & Helicopter Rides.

Last year Schaumburg and Hoffman had great fishing derby’s – something which will hopefully be repeated this year. Last year in Schaumburg the fishing derby was held at Volkening Lake, 900 W. Schaumburg Road and featured hot dogs, chips and of course, prizes for those with the shortest, longest and most fish caught! In Hoffman Estates, the Chamber of Commerce Fishing derby also featured prizes, goody bags, t-shirts and more!

However, if you do not have time to go fishing with dear old dad, perhaps consider these other fathers day gift ideas.

1. A Home Improvement Store Gift Card – this may sound like a dull gift, but what man doesn’t love trapsing around a hardware/home improvement store? Plus it can help him get that push finish off those little projects that he never gets round to in the house.

2. A Swiss Army Knife – thousands of uses! Virtually indestructible and useful? Need I say more!

3. A bottle of his favorite – whether whiskey, wine or beer, this should do the trick nicely! If a teetotaller, when why not a gift card to his favorite restaurant!

4. Cufflinks/Watch/Tie Clip - yes, this may be a cliche but we love it!

5. Day out experience – Whether driving a stock car, a flying lesson or a ticket to that all important game – this is a great gift for the man that has it all!

So with June 20th 2010 coming up, you have time to plan. Any thoughts of what you would get your Dad on fathers day?

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!

Joe Stacy
2570 W. Schaumburg Rd
Schaumburg, IL 60194