Did you resolve that 2012 is the year you own your own home? Making this type of purchase requires a lot of planning. Realtor® Robin Jones of Norfolk, NEgives some first steps on getting ready to be a homeowner: As promised, my next few posts will be about how to prepare to buy a home. Today we’re starting with what you’ll need to do one year out to start getting ready. No surprises…it’s all about credit. 1. Review your credit report. You can get free copies of your report from Equifax, Experian and TransUnion at AnnualCreditReport.com. It’s important to get all three because some may show different things than others. Look carefully for errors. It’s up to you to make sure they’re removed. They affect your interest rate and your ability to get a home loan. 2. Check your credit score. Y... 01/07/2012

If you’re contemplating buying your first place, try to stay within your comfort zone and not get swept away.  As local real estate expert in Chicago, Illinois area, I want my valued buyers to have access to the right information to make better decisions.  1) Don’t Guess …. Determine what you can afford: Figure out your financial comfort zone,  before  you really start looking for a place to buy.    Start by jotting down the basics:  your  income,  savings,  any portfolio investments …  account numbers,  income tax returns …  along with a list of contact names and numbers  for any banks/loans/investments .  Make a list of  expenses …  Include groceries, gas, car payments, insurance premiums,  loans you are in the process of paying off (including credit card balances).    Those will hel... 01/07/2012

Planning a trip to Chicago in the near future?  Here are some links to some fun things to do while hear.  You'll discover why it is my kind of town! http://chicago.cubs.mlb.com/chc/community/rink_at_wrigley.jsp http://www.chicagosketchfest.com/ http://www.newlenoxparks.org/component/jcalpro/view/126/1 http://www.villageoffrankfort.com/assets/pdf/events_2012/Winter%20on%20the%20Green%202012_Single%20Sheet.pdf 01/07/2012

  "Winter on the Green" to be Held in Frankfort, IL on Sundays, January 8th to February 12th, 2012              Breidert Green, located at Ash and Kansas Streets, in the historic downtown region  of Frankfort, IL, will once again be the site for the "Winter on the Green" series of festivities starting this weekend on January 8th.       January 8th, 2012  -  Between the hours of 1 pm to 3 pm, professional ice sculptors will be hosting demonstrations of their sculpting expertise.  You can see displays of their work throughout the downtown while riding on a heated trolley ... all FREE of charge.       The Illinois Alaskan Malamute Rescue Association  will also be in attendance.  Visitors to the "Winter on the Green" festivities will be able to interact and meet with the dogs and learn of t... 01/05/2012

Hawaii home owners tend to take on the most debt in their home purchases with an average home loan amount of $677,299, according to a recent study by LendingTree.com, which revealed the average loan amounts on residential real estate purchases in 2011. That means the average home owner in Hawaii would have a monthly payment of about $3,234 for a 30-year mortgage, before taxes and insurance, according to LendingTree data.  Meanwhile, in Mississippi, home owners take on the lowest loan amounts at $137,182or $655 monthly mortgage payments, on average.  The national average for a home loan is $222,261 with a $1,061 average monthly payment for a 30-year mortgage at 4 percent, according to LendingTree.  The following are the top states with the highest loan amounts, including the average clo... 01/05/2012

The Federal Housing Administration is extending its “anti-flipping” waiver through the end of 2012, which allows buyers to purchase homes that have already been sold in the last 90 days.  The waiver, which was soon set to expire, is “intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight,” Carol J. Galante, the acting Federal Housing Administration commissioner, said in a statement. “FHA remains a critical source of mortgage financing and stability and we must make every effort to promote recovery in every responsible way we can.” An anti-flipping rule originally took effect in 2003 to stop a spike in home flipping that was being blamed on driving up home prices during the housing boom. The rule ... 01/05/2012

Before we review the 2011 housing market, here is an informative report my Valued Financical Asset Advisor just sent me on the 2012 economic and market outlook for 2012... ...https://saf.wellsfargoadvisors.com/emx/dctm/Research/ASG/Investment_Strategy/outlook_report.pdf The “government, the mortgage industry, and forces of nature all shook the housing market in 2011,” according to a recent Time magazine article, which highlights the key issues that had the greatest impact on the real estate market this year--and what’s expected to have a major impact in the new year as well.  Here are a few of the issues that the Time magazine article by Jed Kolko, Trulia’s chief economist, notes as having some of the greatest impact:  1. The robo-signing scandal The issue: Banks were accused of approvi... 01/05/2012

  Winter on the Green 2012 Season Sundays, 1-3 pm Breidert Green in Downtown Historic Frankfort HOT CHOCOLATE BONFIRE January 8: Ice Fest Experience the magic when an ice sculpture unfolds before your eyes during a demonstration by professional ice sculptors. Ride the heated trolley (free of charge) through downtown Frankfort and view ice sculptures on display. The Illinois Alaskan Malamute Rescue Association will be on hand with their beautiful dogs for your enjoyment. What a "cool" way to spend your Sunday afternoon! January 15: Winter Carnival Why wait until summer to enjoy an outdoor carnival? Dance away the cold with Frosty, DJ Don Gray, Rainbow the Clown and your friends at the Winter Carnival! Play carnival games, walk in snow shoes & get that balloon animal made just for you. Ja... 01/04/2012

REAL ESTATE AS A HEDGE AGAINST INFLATION We haven’t heard a lot about inflation recently. However, prices have started to creep upward over the last year. As examples, here are a few categories that increased from November 2010 to November 2011: Food at home – up 6.2% Housing fuels and utilities – up 3.5% Transportation – up 9.2% Here's a look at the issue of inflation and the advantages of owning real estate. The National Association of Realtors (NAR) took an historic look at the impact of inflation. Here are some inflation numbers over the past 30 years:We can see that real estate has fared very well. The most important number is the $0 increase in mortgage amount. The study assumed that the homeowner took a 30 year fixed rate mortgage thereby locking in the housing expense for the th... 01/04/2012

Among all the other challenges of purchasing a home, today’s buyer often has an added burden: the advice of friends, co-workers and family. And what do these well-meaning-advice givers saying their very ‘knowing’ tones of voice? Well, a sampling of advice might include: (a) How dirt cheap ‘those foreclosures’ are;(b) How much of a discount you should be able to negotiate;(c) Exactly how much is too much for you to pay, or,(d) That banks/sellers are sooo desperate to sell. I recall a first-time homebuyer with whom I was working deciding to withdraw his offer on a property that did meet his criteria for location and amenities and price point. Why? His co-workers thought he should be able to get a ‘bargain-basement’ price. He told me, “I don’t want to look like a fool paying too much money... 01/03/2012

What does it really cost to buy a home? Can you afford it? You obviously have to pay the purchase price and mortgage interest, but what else is involved? Potential homeowners are often surprised to discover just how many hidden costs there are in buying and owning a home. Many of these aren't even hidden at all, but are common things people are aware of but overlook when thinking about the cost of home ownership, such as utilities and maintenance costs.   It's hard to pin these costs down exactly, because they vary widely from home to home, according to such factors as size, age, location, condition, amenities, mechanical systems and more. But generally speaking, you need to account for and have a reasonable estimate for each of the following before making the decision to buy.   Purcha... 01/03/2012

Purchasing a home is a big step, and a big decision. The average person spends around 1/3 of their income on their home. The home that you choose has a big impact on your life, and can have a big impact on your finances, as well. It always surprises me when Buyers attempt to “go at it alone” because of the possibility of mistakes. A good Buyer’s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare. 1) Full Access to the MLSThe Multiple Listing Service (MLS) is a powerful tool that only Realtors have access to. When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase. The MLS is a database of all homes listed by Realtors, and represents... 01/02/2012

Marc Rasmussen a Realtor serving Sarasota, Florida, offers valuable tips for homebuyers below, reminds me of a recent Client I was serving on the purchase of a home in Dolton, Illinois.  The target home was an "as-is" cash foreclosure this Client won the bid on for $23k.  There was only one small problem.  The Village of Dolton requires their own home inspection, reserving the right to create a repair escrow to insure the Buyer will complete the required repairs to earn an occupancy permit.  The Village Inspector determined the property needed around $6k in repairs, thus creating a $4k repair escrow.  The Buyer felt the repair escrow amount was unusually high, resulting in the transaction failing to go to closing.  As Marc points out below, there are some really great deals in the marke... 01/02/2012

Should You Purchase or Rent? There are many factors to be considered when deciding to move to a new location with the first critical decision being whether to purchase some property or rent. Depending upon your circumstances, it may either be a clear-cut decision or one that requires a more thorough analysis to make that determination. Factors to Consider Career - For some individuals, it may not be practical to purchase property if their career will require them to relocate frequently. Although some people have the resources and inclination to accumulate property each time they move, for most of us that is either not an option or would be an undesirable outcome to find ourselves in the role of landlord. For the majority of us, that means we need to sell property each time we move, so c... 01/02/2012

Ideas to Make Life Easier Why didn’t I think of that?! We guarantee you’ll be uttering those words more than once at these ingenious little tips, tricks and ideas that solve everyday problems.Hull strawberries easily using a straw.Rubbing a walnut over scratches in your furniture will disguise dings and scrapes. Remove crayon masterpieces from your TV or computer screen with WD40.Stop cut apples browning in your child’s lunch boxby securing with a rubber band.Overhaul your linen cupboard, store bed linen sets inside one of their own pillowcases and there will be no more hunting through piles for a match.Pump up the volume by placing your iPhone & iPod in a bowl. The concave shape amplifies the music.Re-use a wet-wipes container to store plastic bags.Add this item to your beach bag. Baby... 12/31/2011

If you are considering a home purchase, be sure you don’t go it alone.  Buying a home in today’s market requires help and guidance from a real estate professional.  With multiple parties involved in most real estate transactions, pursuing a home alone, whether new or resale, would make you feel like a goldfish in a pool of sharks. The following are some excellent home buying tips to consider and questions to ask when selecting a real estate agent to look out for your best interests: First and foremost, select an agent who will represent you exclusively.  This type of representation will only happen if you choose an agent who represents buyers ONLY in their business. The real estate agent’s experience and negotiating skills are paramount to your success.  Be sure to ask how long they ha... 12/31/2011

1. Know what you need. Start your search by making a list of what you’d like the management company to do. You can put anything on the list, as long as the HOA board keeps the responsibility to oversee the management company’s actions. Knowing what your HOA needs will help you focus your search.  2. Choose a person or committee to do the preliminary search. Expect to devote about 20 hours to choosing a company, says Elizabeth White, an attorney at LeClairRyan in Williamsburg, Va., who represents community associations. 3. Ask if your state requires some level of manager licensing. If so, seek out companies and candidates with the proper credentials. “We’re finding a lot of management companies in states that require licensing (that) haven’t gotten the license,” White says. States that ... 12/28/2011

Here are seven crazy examples of laws and HOA rules: 1. Can't park your car in your own driveway. In Odessa, Fla., a resident was fined by his board for parking his pickup truck in his own driveway because it wouldn’t fit in his garage. Not our problem, the HOA basically told him before slapping him with a lawsuit. After a protracted legal battle, he has since won the right to park his car, but only after two years and $200,000 in legal fees. 2. Don’t plant too many roses. While foreclosure is an increasingly real threat to homeowners, few expect to lose their house based on gardening infractions. But that’s exactly what happened to a Rancho Santa Fe, Calif., resident who planted too many roses on his property. After $70,000 in fees, he lost his legal battle against the HOA and ultimat... 12/28/2011

Schedule Emails & Set Reminders: Boomerang for Gmail Have you ever wished you could tell an email message to "go away and come back later"? Have you ever wished your email would remind you when you haven't heard back from someone? Have you ever wished you could schedule an email to be sent later? If you use Gmail, then you just might be in luck. Boomerang is a free plug-in for the Firefox 3.6+ and Google Chrome 5.0+ web browser which will allow you to add these great functions to Gmail. With this super handy plugin, you can turn Gmail into an assistant for your overworked memory. Since it integrates directly into your web browser, you don't have to hassle with switching to other applications to perform these useful functions. Try out Boomerang for Gmail today: http://www.boomeranggmail.... 12/27/2011

http://thetaylormaderealtor.housingtrendsenewsletter.com/ Link to NBA basketball schedule... http://www.nba.com/bulls/schedule/ Snow removal from roofs is rarely necessary, but when it is, it’s a dangerous job. Tips and advice about what to do when your roof is loaded with snow. When (if ever) is it necessary?The critical factor in determining excessive snow loads on your roof isn’t the depth of the snow, it’s the weight, says home improvement expert Jon Eakes. That’s because wet snow is considerably heavier than dry, fluffy snow. In fact, 6 inches of wet snow is equal to the weight of about 38 inches of dry snow.The good news is that residential roofs are required by building codes to withstand the heaviest snows for that particular part of the country."Theoretically, if your roof is b... 12/27/2011