Geneva, IL Real Estate for Sale - 0n315 Armstrong Lane - The Cadwallader Group

Geneva, IL Real Estate for Sale - 0n315 Armstrong Lane - The Cadwallader Group, CBRB STC, NRT,LLC, EHO For More Information, Visit www.TheCadwalladerGroup.com

Real Estate Client Representation in Illinois

For years and years ("good ole days") buying a home through a real estate agent was similar to going to Sears to buy a stove: you were not legally represented by the agent with whom you were working. Since the Seller usually paid the commission and the listing broker shared that commission with the selling broker, the buyer's "agent" was in fact a subagent of the Seller. In the 90's a class action law suit (dual agency) involving one of the largest brokerage firms in the country resulted in a settlement rumored to be a bunch of money. Agency immediately became of great interest and concern for both real estate companies looking to avoid similar problems and state governments.

Today all states have laws defining real estate agency: buyer agency, seller agency, and dual agency, although some still allow for "facilitators," where no agency has been established. Agency laws define the relationship between the agent and his client, or principle, and the duties of each. Illinois has, by statute, established the duties of the agent to the clients: care, obedience, accounting, loyalty, confidentiality, and disclosure (remember the Boy Scout oath?). The simple rule is that, excepting unlawful demands, the client's interest must be placed above the agent's interest. The client would be obligated to treat the agent honestly, cooperate toward fulfilling the goal for which the agency was formed, and to compensate the agent as agreed.

Establishing agency requires competent parties, a lawful purpose, and agreement between the parties. An agency can be express (written or oral, but written is pretty important) or implied (by words or actions) and once established must be taken very seriously. Obviously if an agent has discussed the job, duties, objectives, compensation, etc. with a prospective client or customer, and they have agreed to work together, an agency relationship has been created. Some acts can be performed without creating an agency: things like answering questions without giving advice. Just answering questions about a home, for instance at an open house, is considered "ministerial" and does not create agency: the other party is considered a consumer: a potential client. A problem can arise if the agent begins to give the consumer advice or moves beyond providing information about a specific home. The Illinois law says, "Licensees shall be considered to be representing the consumer they are working with ...," so an unintended agency relationship may be created.

While most agents will represent either a buyer or seller in a transaction, Illinois license law allows Dual Agency in which the same agent "represents" both buyer and seller. As an example, if an agent had a listed property (a seller client) and a buyer for whom the listing seemed perfect, with the informed written consent of both clients, the agent could show and perhaps negotiate a contract between his/her two clients. It's difficult to understand the term Dual Agency in this transaction: by definition, agency demands working in the best interest of the client and the two clients have opposing interests (purchase price). The agent in this case more intermediates than advocates. The potential for claims of unfair representation are much greater in this type of transaction and utmost care must be taken to insure that both parties are fully informed and agree before any showing takes place. (Undisclosed dual agency is the basis for the law suit mentioned in the first paragraph.) While most agents would like to receive both ends of the commission, it is probably safer from a legal perspective and certainly better service to the client, to avoid dual agency. Illinois uses the "designated agent" approach to allow a Broker to appoint one agent to represent a Seller and another to represent a Buyer in the same transaction without creating a dual agency within the same brokerage.

When beginning to work with a client, get the relationship in writing (if at all possible). It is mandatory for a listing, but sometimes buyers are reticent to sign agency agreements. That may be because the agreement is not properly explained. The Illinois buyer agency forms are pretty non-threatening if explained correctly. Always disclose your position and any information (other than confidential) you have about the property or the agency relationship. If a potential buyer at an open house expresses interest in the property, for example, make certain to disclose that you represent the Seller and that the "buyer" should not rely on your assistance for other than ministerial acts.

Disclosure, agreements in writing, and making sure the client's interest always comes first are the main points, but training and study of agency law is extremely important.
The State of Texas, for instance, requires 30 hours of Agency in its pre-license course.
Illinois includes it in core curriculum for continuing education. The Illinois License Act of 2000 (Article 15) lays it out in detail and can be found most easily at http://law.justia.com/illinois/codes/chapter24/23835.html (it took me quite a while to find it at the State of Illinois General Assembly site and the URL runs off the page).

Southest Rangers escorted the burial of Col. (Ret.) Ralph D. "Hoot" Gibson 01-09-2009

Southwest Rangers escorted the funeral of Col.(Ret.) Ralph D. "Hoot" Gibson Col. (Ret.) Ralph D. "Hoot" Gibson Ralph D. "Hoot" Gibson was born in Keensburg, Illinois and raised in nearby Mt. Carmel. His military career began in 1943 when he joined the US Air Corps. During his 31 years as a fighter pilot, he served in the occupation of Japan after WWII; in the Korean War, where he became the world's third jet ace; and in Vietnam. Other assignments included two tours in Germany and a tour as Leader of the USAF Thunderbird Air Demonstration Team. Hoot retired from the Air Force in 1974 and came to Tucson to begin a second career in real estate. As broker of Hoot Gibson Realty and his own best sales agent, he sold hundreds of properties and touched thousands of lives in Tucson and southern Arizona. Hoot was an energetic member of the Tucson community. In addition to realty-related organizations, he was active in Kiwanis, the Business Association of Tucson, Caballeros del Sol, Executives International, and SAHBA as well as several military-related organizations: the Air Force Assoc., Daedalians, Fighter Aces Assoc., Thunderbird Alumni Assoc., River Rats, Sabre Pilots, Super Sabre Society, QB's, and the Pima Air Museum. In recent years he was inducted into the Illinois Military Aviation Hall of Fame and the Arizona Aviation Hall of Fame. Among the decorations Hoot earned in the Air Force were two Silver Stars, two Legions of Merit, four Distinguished Flying Crosses, Bronze Star ...

Real Estate Short Sales - Basics

In these tough economic times, many people consider getting involved in a short sale of real property. However, most do not understand what it takes to close short on a piece of property. The term "short sale" for real estate means that the sale proceeds are less than the balance of the mortgage or mortgages for that real estate. It takes a lot of time and effort to accomplish a successful short sale. Cooperation and hard work is needed. The seller and lender are both in tough positions. The seller can no longer afford their home and can not pay the mortgage. The lender has no desire to take the home or go through costly foreclosure proceedings.

The seller has to start the ball rolling by finding the right department and person within their lender to assist in this process. It takes many phone calls and letters to get a person with authority from the lender. Also, do not make the mistake of trying to go through the lenders mortgage work out department if you really just need to get out of the property and mortgage.

The seller has to provide the lender with many documents before lenders even consider the option of a short sale. Some of these documents include: (1) preliminary net sheet, (2) hardship letter, (3) proof of income and assets, (4) copies of bank statements, (5) comparative market analysis, and (6) letter of authorization.

The seller should contact a real estate agent, accountant and attorney. Many agents will reduce their commission amount on a listing that needs to sell short. Accountants can explain and go over the tax ramifications (which vary for each individual). Attorneys can help negotiate with the lender and buyer, determine if the loan qualifies for a deficiency judgment, work within foreclosure proceeding, and close the transaction.

Be aware that the lender is not in a hurry to agree to a short sale. The lender will take as much time as it wants and will periodically ask for more information. Lenders will only agree to a short sale if it makes financial sense. The buyer has to have a lot of patience, be willing to cooperate with the lender and, most importantly, have the money to purchase the real property.

Non-Resident Decedents With Florida Property

When a resident of another state dies owning real estate in Florida, proceedings are necessary in Florida to transfer the property. Even if a personal representative has been appointed in the decedent's home state, neither that person nor the home state's probate court has jurisdiction over the Florida property. As a result the out-of-state personal representative cannot validly execute a deed transferring the Florida property.

This issue often comes up when a family member is trying to sell a non-resident decedent's Florida property. It is usually discovered after the contract has been executed and can jeopardize the ability for the Seller to perform by the Closing Date.

Time can become a major factor. Buyers don't want to wait months to get clear title. Cost is another factor. The Seller doesn't want to spend tens of thousands of dollars on a probate proceeding. Depending on the circumstances, it is possible that the procedure needed to effectively transfer the property can be quite simple.

In these circumstances, there are 4 alternatives:

1). Admission of the Foreign Will to Record in the Florida County where the property is located,
2). An Ancillary Probate proceeding,
3). A Short Form Ancillary Proceeding, or
4). Summary Administration.

Admission of the Foreign Will to Record. This is by far the easiest, quickest and least expensive alternative. An authenticated copy of the will of a nonresident that devises Florida real property, or any right, title, or interest in the property, may be admitted to record in any Florida county where the property is located at any time after 2 years from the death of the decedent or at any time after the domiciliary personal representative has been discharged if there has been no prior proceeding to administer the estate of the decedent in Florida.

As you can see, this is only available to testate estates (with a will) that have been fully probated in another state. Further, the will must have been executed with the formalities required by Florida law.

A Petition to Admit a Foreign Will to Record may be filed with the Florida court by any person and shall be accompanied by authenticated copies from the out-of-state court of the foreign will, the petition for probate, and the order admitting the will to probate.

If the Florida court finds that the requirements of this law have been met, it will enter an Order Admitting the Foreign Will to Record. When admitted to record, the foreign will shall be as valid and effectual to pass title to real property and any right, title, or interest therein as if the will had been admitted to probate in Florida. Title would be vested in those persons to whom the decedent has devised it in the will, and those devisees must personally convey title to any third party.

Ancillary Probate Proceeding. Once a personal representative (or executor) has been appointed by the court in the decedent's home state, he or she can petition the Florida court for authority to act as an ancillary personal representative in Florida. The Florida ancillary personal representative must qualify under Florida law. This means that he or she has to be a Florida resident or be related to the decedent. Once appointed, the personal representative conducts the proceedings in the same manner as a Florida probate. This alternative does not require that the estate have a will, but it does require the appointment of a Florida personal representative and the conducting of a full formal probate proceeding in Florida.

Short Form Ancillary Administration. The Florida Probate Code provides a less cumbersome procedure when the value of the property subject to Florida probate does not exceed $50,000. In this case the out of state personal representative can file the authenticated transcript of the out of state probate proceedings with the Florida court to show the will and beneficiaries.

Summary Administration. If the total value of the property subject to Florida probate is less than $75,000, or the decedent has been dead for at least 2 years, Summary Administration is available to non-resident decedents. Summary Administration avoids the necessity of the appointment of a personal representative. It is accomplished by petitioning the Court to order the distribution of the decedent's assets to those entitled to it under the Will or under law. If the Court deems the petition to be proper, it will issue an Order of Summary Administration which authorizes the assets to be distributed to the proper beneficiaries.

For Sellers looking to complete a transaction for real estate owned by a non-resident decedent, The Law Offices of Dean Hanewinckel, P.A. will review the situation, determine the most effective course of action, and provide good and marketable title to the property.

Fox Meadow townhome tour

Built less than 10 years ago, Fox Meadow is one of the newer developments in Northfield. It includes single family homes (often priced upwards of $1M) and 21 individually-owned rowhouses. The development is distinctive for its extensive ponds and fountains, its lush landscaping, the unity of the architecture, and the adjacent Meadow Park. It's directly across Willow Road from Kraft Foods corporate headquarters, and convenient to both I-94 and I-294 and the extensive shops at The Glen.

10 Things Every Buyer Needs - To Close A Commercial Real Estate Loan

For nearly 30 years, I have represented borrowers and lenders in commercial real estate transactions. During this time it has become apparent that many Buyers do not have a clear understanding of what is required to document a commercial real estate loan. Unless the basics are understood, the likelihood of success in closing a commercial real estate transaction is greatly reduced.

Throughout the process of negotiating the sale contract, all parties must keep their eye on what the Buyer's lender will reasonably require as a condition to financing the purchase. This may not be what the parties want to focus on, but if this aspect of the transaction is ignored, the deal may not close at all.

Sellers and their agents often express the attitude that the Buyer's financing is the Buyer's problem, not theirs. Perhaps, but facilitating Buyer's financing should certainly be of interest to Sellers. How many sale transactions will close if the Buyer cannot get financing?

This is not to suggest that Sellers should intrude upon the relationship between the Buyer and its lender, or become actively involved in obtaining Buyer's financing. It does mean, however, that the Seller should understand what information concerning the property the Buyer will need to produce to its lender to obtain financing, and that Seller should be prepared to fully cooperate with the Buyer in all reasonable respects to produce that information.

Basic Lending Criteria

Lenders actively involved in making loans secured by commercial real estate typically have the same or similar documentation requirements. Unless these requirements can be satisfied, the loan will not be funded. If the loan is not funded, the sale transaction will not likely close.

For Lenders, the object, always, is to establish two basic lending criteria:

1. The ability of the borrower to repay the loan ; and

2. The ability of the lender to recover the full amount of the loan, including outstanding principal, accrued and unpaid interest, and all reasonable costs of collection, in the event the borrower fails to repay the loan.

In nearly every loan of every type, these two lending criteria form the basis of the lender's willingness to make the loan. Virtually all documentation in the loan closing process points to satisfying these two criteria. There are other legal requirements and regulations requiring lender compliance, but these two basic lending criteria represent, for the lender, what the loan closing process seeks to establish. They are also a primary focus of bank regulators, such as the FDIC, in verifying that the lender is following safe and sound lending practices.

Few lenders engaged in commercial real estate lending are interested in making loans without collateral sufficient to assure repayment of the entire loan, including outstanding principal, accrued and unpaid interest, and all reasonable costs of collection, even where the borrower's independent ability to repay is substantial. As we have seen time and again, changes in economic conditions, whether occurring from ordinary economic cycles, changes in technology, natural disasters, divorce, death, and even terrorist attack or war, can change the "ability" of a borrower to pay. Prudent lending practices require adequate security for any loan of substance.

Documenting The Loan

There is no magic to documenting a commercial real estate loan. There are issues to resolve and documents to draft, but all can be managed efficiently and effectively if all parties to the transaction recognize the legitimate needs of the lender and plan the transaction and the contract requirements with a view toward satisfying those needs within the framework of the sale transaction.

While the credit decision to issue a loan commitment focuses primarily on the ability of the borrower to repay the loan; the loan closing process focuses primarily on verification and documentation of the second stated criteria: confirmation that the collateral is sufficient to assure repayment of the loan, including all principal, accrued and unpaid interest, late fees, attorneys fees and other costs of collection, in the event the borrower fails to voluntarily repay the loan.

With this in mind, most commercial real estate lenders approach commercial real estate closings by viewing themselves as potential "back-up buyers". They are always testing their collateral position against the possibility that the Buyer/Borrower will default, with the lender being forced to foreclose and become the owner of the property. Their documentation requirements are designed to place the lender, after foreclosure, in as good a position as they would require at closing if they were a sophisticated direct buyer of the property; with the expectation that the lender may need to sell the property to a future sophisticated buyer to recover repayment of their loan.

Top 10 Lender Deliveries

In documenting a commercial real estate loan, the parties must recognize that virtually all commercial real estate lenders will require, among other things, delivery of the following "property documents":

1. Operating Statements for the past 3 years reflecting income and expenses of operations, including cost and timing of scheduled capital improvements;

2. Certified copies of all Leases;

3. A Certified Rent Roll as of the date of the Purchase Contract, and again as of a date within 2 or 3 days prior to closing;

4. Estoppel Certificates signed by each tenant (or, typically, tenants representing 90% of the leased GLA in the project) dated within 15 days prior to closing;

5. Subordination, Non-Disturbance and Attornment ("SNDA") Agreements signed by each tenant;

6. An ALTA lender's title insurance policy with required endorsements, including, among others, an ALTA 3.1 Zoning Endorsement (modified to include parking), ALTA Endorsement No. 4 (Contiguity Endorsement insuring the mortgaged property constitutes a single parcel with no gaps or gores), and an Access Endorsement (insuring that the mortgaged property has access to public streets and ways for vehicular and pedestrian traffic);

7. Copies of all documents of record which are to remain as encumbrances following closing, including all easements, restrictions, party wall agreements and other similar items;

8. A current Plat of Survey prepared in accordance with 2005 Minimum Standard Detail for ALTA/ACSM Land Title Surveys, certified to the lender, Buyer and the title insurer, including items 1 through 4, 6, 7(a), 7(b)(1), 8 through 11(a) and 14 from the Surveyor's "Optional Survey Responsibilities and Specifications" referred to as "Table A";

9. A satisfactory Environmental Site Evaluation Report (Phase I Audit) and, if appropriate under the circumstances, a Phase 2 Audit, to demonstrate the property is not burdened with any recognized environmental defect; and

10. A Site Improvements Inspection Report to evaluate the structural integrity of improvements.

To be sure, there will be other requirements and deliveries the Buyer will be expected to satisfy as a condition to obtaining funding of the purchase money loan, but the items listed above are virtually universal. If the parties do not draft the purchase contract to accommodate timely delivery of these items to lender, the chances of closing the transaction are greatly reduced.

Planning for Closing Costs

The closing process for commercial real estate transactions can be expensive. In addition to drafting the Purchase Contract to accommodate the documentary requirements of the Buyer's lender, the Buyer and his advisors need to consider and adequately plan for the high cost of bringing a commercial real estate transaction from contract to closing.

If competent Buyer's counsel and competent lender's counsel work together, each understanding what is required to be done to get the transaction closed, the cost of closing can be kept to a minimum, though it will undoubtedly remain substantial. It is not unusual for closing costs for a commercial real estate transaction with even typical closing issues to run thousands of dollars. Buyers must understand this and be prepared to accept it as a cost of doing business.

Sophisticated Buyers understand the costs involved in documenting and closing a commercial real estate transaction and factor them into the overall cost of the transaction, just as they do costs such as the agreed upon purchase price, real estate brokerage commissions, loan brokerage fees, loan commitment fees and the like.

Closing costs can constitute significant transaction expenses and must be factored into the Buyer's business decision-making process in determining whether to proceed with a commercial real estate transaction. They are inescapable expenditures that add to Buyer's cost of acquiring commercial real estate. They must be taken into account to determine the "true purchase price" to be paid by the Buyer to acquire any given project and to accurately calculate the anticipated yield on investment.

Some closing costs may be shifted to the Seller through custom or effective contract negotiation, but many will unavoidably fall on the Buyer. These can easily total tens of thousands of dollars in an even moderately sized commercial real estate transaction in the $1,000,000 to $5,000,000 price range.

Costs often overlooked, but ever present, include title insurance with required lender endorsements, an ALTA Survey, environmental audit(s), a Site Improvements Inspection Report and, somewhat surprisingly, Buyers attorney's fees.

For reasons that escape me, inexperienced Buyers of commercial real estate, and even some experienced Buyers, nearly always underestimate attorneys fees required in any given transaction. This is not because they are unpredictable, since the combined fees a Buyer must pay to its own attorney and to the Lender's attorney typically aggregate around 1% of the Purchase Price . Perhaps it stems from wishful thinking associated with the customarily low attorneys fees charged by attorneys handling residential real estate closings. In reality, the level of sophistication and the amount of specialized work required to fully investigate and document a transaction for a Buyer of commercial real estate makes comparisons with residential real estate transactions inappropriate. Sophisticated commercial real estate investors understand this. Less sophisticated commercial real estate buyers must learn how to properly budget this cost.

Conclusion

Concluding negotiations for the sale/purchase of a substantial commercial real estate project is a thrilling experience but, until the transaction closes, it is only ink on paper. To get to closing, the contract must anticipate the documentation the Buyer will be required to deliver to its lender to obtain purchase money financing. The Buyer must also be aware of the substantial costs to be incurred in preparing for closing so that Buyer may reasonably plan its cash requirements for closing. With a clear understanding of what is required, and advanced planning to satisfy those requirements, the likelihood of successfully closing will be greatly enhanced.

Homes for auction Naperville Illinois

Magnificent home in Naperville, high tech smart house design with every amenity you can imagine! Walk to Naperville's District 204 Grammar school, Middle school, and local Restaurants and shops! Located in Naperville's West Highlands and priced to sell at $1275000. Call Jackie for a tour of this lovely home at 630-878-5779!

Taking Out Mortgage Protection Cover to Give Peace of Mind

Mortgage protection cover is important because many people in the world are losing their jobs. Homeowners can get peace of mind by purchasing the extra protection. The fact is that about 15 million people in the United States are unemployed right now.

Mortgage protection cover is available to homeowners. In the event that they lose their jobs, the insurance company will make their mortgage payments. If you have this kind of insurance and you lose your job, you will be able to keep your home while you look for a new one.

This kind of policy is very affordable and rates vary among insurance carriers. Insurance agents will use numerous factors to set the prices of your insurance premiums. For example, if your employer has been getting rid of many employees, you will pay a higher premium for coverage. If the risk of losing your job is high, you will pay more. The value of your property will also affect your premiums. If you live in a million dollar mansion, you will pay a higher premium. If the value of your home is not too high and you make modest payments on your mortgage, you will be charged a smaller premium for coverage.

It is important to note that people who purchase the coverage may not have to get a medical exam done in order to obtain a policy. Also, keep in mind, if you die when you have an active policy, the benefits will be used to pay off your mortgage balance. If your loved ones depend on your income to pay the mortgage and other household expenses, you should definitely purchase the extra protection.

If you want to find mortgage protection cover for a great price, you should shop around. The insurance will replace your income if you lose your job. You can obtain free quotes online to find out what insurers are charging for coverage. If you obtain several quotes online, you will find insurance for a reasonable price. Keep in mind that if you obtain quotes online, you are not obligated to purchase a policy. Just make sure you choose an insurance carrier that is doing well financially. Financially sound companies offer affordable policies that are more valuable to consumers. Financing a home can be scary, so if you are worried about losing your job, you should search for an insurance policy that suits your needs.

Developing Anecdotes for the Job Interview

Anectodes? For a job interview?

The purpose of developing anecdotes for the interview is to be able to illustrate your skills and abilities to the prospective employer. Stories SHOW the employer what you are capable of rather than simply tell them what you have done in the past.

During the interview process, an interviewer may talk to 5-10 candidates for a single position. In order to stand out from the crowd, you have to be able to answer each question in a way that the interviewer will approve of and remember.

When you are able to communicate clearly with the interviewer and relate specific events which capture the essence of a particular skill or ability, you will be well ahead of your competitors.

Think of it this way:

The interviewer asks this question of candidates #1, #2 and #3: "Have you ever been in a situation when you have had to calm down an employee who felt as though he'd been treated unfairly by another employee?"

Candidate #1 responds: "Well, I remember doing that once, although it was a nightmare."

Candidate #2 responds: "Yes, I listened attentively until he went away."

Candidate #3 responds: "Yes, I have been in that situation before. In fact, not long ago, a co-worker in a cubicle next to mine was furious that her boss was asking her to stay late 3 days in a row. I asked her to come to my cubicle and sit down while we worked out a way for the two of us to share the work load so that she could get home at a decent hour."

Who do you think the interviewer is going to remember? The storyteller will be remembered because the story itself has value and makes a statement.

When you are able to answer an interviewers questions (not all of them, mind you) with anecdotes that show the employer HOW you solved problems, motivated others, communicated well, saved the company money, worked efficiently and so on, you will be the one they offer the job to.

Employers are looking for people who show results. They want to hire individuals who can make a positive impact on the bottom line. If you can show them how you are one of those individuals, then you will be a part of their team.

As you think about the anecdotes you want to use, please heed these words of caution: Be positive, energetic and confident. Do not belittle anyone else. Do not offer negative comments about your previous/current employer. Identify yourself as someone with integrity, pride and determination and you will be successful.

Developing anecdotes is not hard. When reflecting on the possible questions a prospective employer might ask, simply go a step further and ask yourself, "Can you think of a time when this happened?"

Doing so may make the difference between you getting a job offer - or one of your competitors getting that offer.

Reach inside and find those anecdotes; those amusing, creative and positive stories. You will be SO GLAD you did.

Carla Vaughan

http://www.professional-resume-example.com

A drive through city Winnetka

Linda Martin of Coldwell Banker's Winnetka North office has lived in East Winnetka for more than 20 years, and volunteered to show me around her neighborhood. This is one of a series of videos in which Linda drives me around, and we talk about a variety of topics. In this episode we pass through downtown Winnetka's Elm Street commercial district, with a brief stop at Dwyer Park

Open Floor Plan Decor

It seems that the majority of new homes these days are designed with open floor plans. They give a nice open feeling and make the living space appear larger. It can however, create a decorating challenge.

Where do paint colors begin and where do they end? How do you distinguish between different areas? How much furniture is too much?

The following suggestions will help you deal with these as well as other common problems that arise when decorating an open concept living space.

Furniture Layout

- If your room has a slanted ceiling, place your larger pieces of furniture closest to the highest wall.

- Don't position sofas across the corner of a room, but do position large chairs at an angle to use up corner spaces.

- Position your larger pieces of furniture first and then add the smaller pieces gradually.

- Allow plenty of open space between the various pieces of furniture. Using the decorating Rule of Thirds, your furniture should take up about two thirds of available wall space.

Paint

- Try to choose neutral colors, but add an accent color on a few walls. Add accessories to complement your accent color.

- Restate colors or themes in various areas to create a flow.

Create Rooms or Themed Areas

- Open floor plans allow various members of the family use the same large area for different uses. The kids could be in the dining room playing a game while dad is in the kitchen and mom is watching TV. There are no walls dividing all of this interaction, so it's important to create decorative walls with furniture and accents.

- Divide your room according to uses. For example, a rectangular shaped room may separat into two separate living spaces. Take a great room and split it into a sitting area and a dining room. Or a large dining room could have a couch at one end for relaxing after dinner.

- Define the different areas with an area rug, an accent paint color or wallpaper.

- A subtle dividing wall can be achieved by placing a narrow table behind a couch. Decorate with floral displays or vases to create the illusion of height.

The North Side market: prices, Blaine School District, Southport and Ashland corridors

Realtor Jenny Ames of Coldwell Banker Residential Brokerage offers some observations on the North Side home market, from buyers' tendencies to look at homes from Andersonville to Ukrainian Village instead of focusing on one particular neighborhood, to the cachet of the Blaine School District, to the pros and cons of streets like Southport and Ashland.

Writing Real Estate Brochures That Work

Whether you need a facelift for your marketing tools, or a new promotional medium to promote your real estate business, you would need a marketing campaign that will deliver a strong and lasting impact among your target readers.

One marketing tool that is very popular among business owners for their marketing campaign is a brochure printing project. Brochures are collateral materials made to provide your target readers with a message that would generate interest in your real estate business.

Simply developing a brochure printing project won't do you any good because everyone in the real estate business would most probably be doing the same thing. As brochures are very popular among real estate agencies, creating a brochure printing project that is unique and distinguishable from the rest of your competition should be your main goal.

If you're really set in doing your brochure printing project for your business, you should understand that there is a need for you to create a distinct real estate business image that would make a great impact and positive impression on your prospective clients. And this can be done by having a brochure printing project that delivers an original message.

With your real estate brochure printing project, you have the opportunity to build an image among your prospective clients that can motivate and persuade them to try what you have to offer. Your real estate brochure printing project then can be an exceptional marketing tool in your arsenal that includes intelligent content, unique visual design, engaging headlines, as well as a logical and organized format that conveys a powerful message.

So how do you write an effective real estate brochure that will work for your business? By providing your target readers with an original and distinct brochure printing copy that gets their attention, pique their interest, convey a professional business image, as well as give a brief but snappy call-to-action.

Here are a few suggestions to help you write an effective real estate brochure that works for your business:

The Front Page. This is the most important part of your real estate brochure printing project. Your front page provides the 'teaser' that gets your target readers' attention. If you're not able to get your target readers interested in your front page, how do you think will they ever discover the valuable information inside your brochure printing pages?

Your real estate brochure printing front page should have a powerful slogan and visual elements that provide a great impact. It should encourage curiosity among your target clients, enough to make them want to open your real estate brochure and read more.

The Inside Pages. When your front page is able to get your target clients interested to learn more, then your inside pages should be able to make them want to stay. Your real estate brochure printing inside pages should contain all the relevant and useful information about your real estate business.

Use brief and easy-to-understand words in your brochure printing copy, and as much as possible, stay away from jargons that only you and other real estate agents could understand. Apply illustrations, diagrams and images not only to create a visually appealing content, but more than anything else, to emphasize your brochure printing message.

The Last Page. Your brochure printing last page can be used to encourage your target readers to take action and call you. Include all the necessary contact details, including your website address if you have one. And don't be afraid to leave an empty space in your back page. White space can make your real estate brochure printing project more attractive and helps your real estate brochure to breathe.

In summary, your real estate brochure printing project can work effectively if you provide it with content that describes all your products and services, emphasizing the advantages and benefits to your target readers. That's how you get clients. And that's how your real estate brochure printing project can make your target readers become loyal clients.

The GREATEST GIFT.............for YOU

To find out more about me, and how I might be able to assist you.............. Go to: www.linkedin/in/pattipuckett profile.to OR WRITE ME AT: patti.vpoperations@gmail.com

Nailing it at Teddie Kossof Salon

If you tour the Teddie Kossof Salon in Northfield, as I did recently, you're impressed with the sheer scope of it - and with the care that's gone into making it a very personal enterprise. Teddie Kossof occupies a sprawling space, but segments it into personal care areas that are more intimate and approachable. Long-term relationships between beauticians and clients make the Teddie Kossof yet more personal. Watch Vanda do Bonnie Larson's nails -- as she's been doing for many years now. Larson is a real estate agent at Coldwell Banker's Winnetka North office, and is sponsoring a series of videos showcasing the places she frequents in Northfield..

Why Hand Out Flyers Are Effective For Your Real Estate Business

Before, it was not a usual occurrence to see real estate agents handing out real estate flyer printing pieces to people in commercial establishments such as malls and shopping centers. In fact, from a rare few, a real estate flyer printing piece has become part of the majority of the print flyers distributed in most of these areas.

So why is this the new pattern for real estate marketing nowadays? Because your flyer printing pieces have become indispensable marketing tools to help you introduce your business to your target clients.

Your flyer printing project, because of its flexibility, can travel with the recipient even if the one who received it is not interested in buying real estate. Although you might be somewhat discriminating with the way you hand out your flyer printing pieces (only to those who look like they have the means to buy a piece of land or real estate from you), it is a fact that your flyer printing project can be easily transferred and passed on to other prospective clients who are more inclined to your real estate offer.

Because of its flexibility and easy-travel capacity, your flyer printing project allows your prospective clients to bring them home and look it over. This would give your flyer printing project a better chance of getting your target readers to become serious buyers of real estate. And if not them, they would then have the opportunity to pass your flyer printing piece to someone who would need your business proposal.

I should know. Before, I used to get lots and lots of flyer printing pieces, as well as other real estate marketing materials such as brochure printing pieces, catalog printing items, and even business card printing samples, with the objective of someday I would need their services when I would buy my own house. Until now, I'm still saving up for my dream house, along with the different flyer printing pieces that I've amassed from every malls, seminars, exhibits and trade shows that I've been to.

But truth to tell, the flyer printing pieces that I have kept and filed in my cabinet have also been great sources of information not only for me, but for my relatives and acquaintances as well.

When before they were complaining about the junk I bring home, now they have been telling about how I've been a lifesaver when it comes to getting them the best and most affordable companies for their own homes.

More than ever, you are utilizing the most cost effective method of marketing your real estate business - the pass-on technique. Your flyer printing project has made this marketing campaign realizable because it allows for the generation of new leads. The one who received your flyer printing project becomes your real estate agent unbeknownst to him or her. This would translate then to more solid leads for your business, which is the end goal of every real estate business, I think.

Finding the Right Job - Are You on the Right Track?

It's important to know where you are going - in life, in your career. Finding the right job is essential.

Are you happy in your career? Do you want to make some changes? Perhaps it's time for you to consider your job options. When you are not satisfied in the work you do, you need to evaluate what is truly important to you.

If you are trying to find the job that best suits you, plan to take some time to reflect and re-focus your vision.

Many people start off in one career and decide later in life to pursue their hobby. The experience almost always is more enjoyable and more profitable. Whether you create the opportunity, fall into it or are given direction by someone else, you should always be open to the possibilities around you. Your dream career might not be what you anticipated when you start your job search.

One thing that can really help in this situation is understanding your basic expectations for a job/career. Do you know what you want? What is the minimum salary that you will accept for a position? Are you more inclined to work by yourself or as part of a team? How much variation do you like (day to day) in a position?

In order to realize what will make you happy, you need to spend some time analyzing your needs, desires and expectations. Unless you truly grasp what truly matters in your life, you will likely find yourself switching jobs somewhat frequently.

In addition to that, knowing what is of most importance to you will help you create your resume and cover letter in such a way that you identify those priorities. After all, when you specify your willingness to work on team projects, you are more likely to be offered a job interview where those desires will be met.

One other benefit of clarifying your priorities is that you are more confident. When it comes time for an interview, you will have a much better understanding of yourself and you will be better able to handle those often-frustrating questions, like: "Why do you want to work here?" or "What do you see yourself doing in 5 years?"

Finding the right job is important. It is important for you to have the right job so that you will be happy and it is important for your employer because happy employees are productive employees.

Be open to whatever opportunities come your way. Evaluate them by comparing them to your priorities. Whatever matches up, even if it was not something you originally considered, is worth looking into.

Sara Bonert, Director of Broker Services for Zillow.com

I work as the Director of Broker Relations for Zillow, responsible for making sure real estate professionals know about and are effectively using all the resources available to them on Zillow to connect with our audience of almost 9 million monthly users. This includes things like working with Brokers to set up free data feeds, making sure Agents have created Professional Profiles, and helping people understand how to use Zillow Advice. Prior to Zillow, I was the National Sales Manager of ebusiness for Network Communications who publishes title such as The Real Estate Book, Unique Homes, New Home Finder and Apartment Finder. All magazine inventory went online and I was tasked with merging a traditional offline product with an online media product. Prior to Network Communications I worked for Citysearch.com. I initially started by selling website across all business categories but later was tasked with working to build out the company's first Real Estate vertical and helping Agents learn to market themselves online. In addition to conducting individual meetings with Brokers, I also participate in many key Real Estate trade events such as: Inman Real Estate Connect, RIS Media, Real Trends, and various brokerage national sales events. I am a licensed Agent in Illinois and a member of the National Association of Realtors, the Illinois Association of Realtors, and the Chicago Association of Realtors. I earned a BS in Marketing from Iowa State University and currently reside in ...

How To Become A Realtor

People from all aspects of the active and retired world decide that becoming a Realtor for many reasons. Many enjoy working closely with the public, being able to answer to their own schedules, and seeing a higher reward for their efforts. Some are interested in buying real estate for themselves and think that as an agent they will have better access and knowledge to the deals found in the marketplace. Take a little time to become familiar with the realities of becoming a Realtor before you jump in and become licensed.

Becoming a Realtor is very expensive. The cost of licensing is high and you will be expected to spend a considerable amount of money before you can see a profit. The process is time consuming. When first becoming a Realtor, you must weigh the importance of ten important expenses to see which you are able to initially afford. Some of the fees involved with working as a Realtor are the fee to join a local Multiple Listing Service (MLS) and the fees to join a local board of Realtors. There are also ongoing fees for local real estate boards (quarterly or monthly). There are other general expenses of doing business, which will vary depending on the agency you work for. These expenses can include all of your postage, phone calls, copies, advertising and other kinds of overhead. You must also have a presentable and dependable four door vehicle and additional auto insurance to cover increased liability for business passengers. There are many expenses when working as a real estate agent.

You will probably work evenings and weekends and your hours can be quite long. You can make your own hours and you should not allow clients to control your time. There will be many occasions when you can only show a home or take a listing appointment in the evening, or when a weekend is the only time you can write up an offer. Your commitment to success will greatly depend on your success especially when you initially are becoming a Realtor. As well as realizing the dedication of time you must acknowledge you are not merely selling a house but you are locating and acquiring a properties and that the purchasing of a home is an extremely personal and sometimes frightening undergoing for people. Approaching becoming a Realtor merely as a sales job is a big mistake. Of course, you'll sell some properties, but will your clients tell their family and friends that you did a fantastic job for them? or that you clearly only had interest in making the sale.

Referrals from past clients make a good real estate agent's income grow each year. It takes extremely hard work and a great sense of devotion to get those referrals, stay with each job to its completion no matter how small the potential earnings for you now, the pay off later can be rewarding.

Wicker Park adjacency video from Dream Town

www.dreamtown.com Wicker Park joins the list of Chicago neighborhoods that have benefited from the past decadeýs housing boom. Once dilapidated, the area has blossomed into a hipster mecca, a spot that has welcomed new businesses, restaurants, and construction, while retaining a gritty edge. The area is known as a vibrant, artistic community, and continues to encourage and celebrate working artists. At the same time, itýs now known for some of the city's best shopping, dining and nightlife. See http for more Wicker park info

Illinois Business Lawyer - Business Law Update Q4 2009

Illinois Business owners should contact attorney Jay Kaufman at (847) 521-4910 to coordinate annual meeting with attorney, CPA, Financial Advisor, and insurance advisor to make sure all of your business goals are met. Business owners should be aware of risk of employees taking confidential information and customers. Confidential information and customers can be protected with covenants not to compete and confidentiality agreements. Business owners can acquire business real estate at unprecedented low prices. Chicago Jay Kaufman can help you get financing. Landlords and tenants in Northbrook or anywhere in Illinois should contact Jay Kaufman for help. Jay Kaufman can review your bank loan covenants, benefit plans. 401(k) plans, safe harbor contributions, group health plans, and health saving accounts.

Who Owns the Appraisal Management Companies?

With so many appraisal management companies (AMCs) in business, one can get lost inside the sea of guarantees, promises, and misrepresentations. It has been a frustrating time for appraisers over the past 12 months as they have worked through the mess that has become the appraisal profession. No more are the days of being rewarded for great customer service and building business relationships with clients and being a leader in your local business community. Now it is merely a profession of being at the ready when the call or email comes in from the AMC.

There has been much debate regarding AMCs and their contribution to the appraisal process. These issues have come from many different factions but some of the greatest concerns seems to be coming from individual appraisers who do work for these management companies. Long established, professional appraisers have been relegated to a role of waiting for their turn to come up on the AMC roster.

At the heart of the controversy are AMCs, through which the major banks arrange appraisals on mortgage loans that they intend to sell to Fannie Mae and Freddie Mac. The system that is in place has many tens or hundreds or thousands of appraisers enrolled with a particular AMC to do work in a given county. So, for example, and I'm making these numbers up, but say that with a particular AMC, there are 769 residential appraisers signed up with appraisal management company A to do appraisals in Cook County, Illinois.

Now, how do you think the appraisal management company decides who does a specific appraisal. That's right, it is based on the "rotation" of appraisers within that companies list. So, once you, as an appraiser, receive an order from Company A, you can expect that another 768 appraisals will be ordered by that company before it comes back to you in the rotation. Where is the business incentive in that model?

Appraisal management companies came to the forefront with the implementation of the HVCC. The Home Valuation Code of Conduct (HVCC) tries to eradicate potential appraisal influence by prohibiting mortgage brokers from hiring their own appraisers, and by encouraging banks to accept anonymous appraisals arranged by a third party. Although banks are allowed to hire appraisers directly, the employee choosing the appraiser cannot be involved in loan production.

The biggest problem is that banks are allowed to own the appraisal management companies they use. For example, Bank of America owns the appraisal management company LandSafe Inc. And almost every single AMC is owned at least in part by the bank or mortgage financier that engages them. That is just nuts, people.

The AMCs are already legitimized by the big banks with no rein on their business activities. Since the AMC's are not going away, I am in support of regulating them HEAVILY!

Emerging neighborhoods in Chicago

Garry Benson and Christine Lutz are, respectively, the founder and Senior VP of Chicago-based Garrison Partners, a national sales and marketing organization for home builders. They're thoughtful and well-informed professionals who are currently representing more than $2 billion in residential construction in 9 markets throughout the country, including several in Chicago. I visited with them to get their perspective on Chicago real estate, and to talk about a topic that's always of interest -- where's the next hot neighborhood? Stay tuned for more of this interview, which is part of our ongoing efforts to bring you a variety of views on current market conditions in Chicago.

Auburn Gresham, Model blocks project, Part one

See the mother of all bungalows, learn about property values and rents, and hear how the Greater Auburn Gresham Development Corporation is fostering change in this south side Chicago neighborhood.

15 Tips for Packing Like a Pro

So you're getting ready to move - congratulations! There's a lot that must get done when you move into a new house. Make this transition as easy as possible by reading these handy tips on getting you and your family prepared.

First, plan ahead by organizing and budgeting. Develop a master "to do" list so you won't forget something critical.

Sort and get rid of things you no longer want or need. Consider having a garage sale, donate to a charity, or recycle. But don't throw everything out! If your inclination is to just toss it, you're probably right. However, it's possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you'd feel if you no longer had it. That will eliminate regrets after the move.

Try your best to pack like items together. Put toys with toys, kitchen utensils with kitchen utensils. It will make your life a whole lot easier when it comes time to unpack.

Decide what, if anything, you plan on moving yourself. Precious items like family photos, valuable breakables, or must-have items during the move should probably stay with you. Don't forget to keep a "necessities" bag with tissues, snacks, and other items you'll need that day.

Remember to use the right box for the item. Loose items are prone to breakage. Put heavy items in small boxes so they're easier to lift. Try to keep the weight of each box under 50 pounds, if possible. Don't over-pack boxes. That will increase the chance that items inside the box will break. Wrap every fragile item separately and pad the bottom and sides of boxes.

Label each box on all sides. You never know how they'll be stacked and you don't want to have to move other boxes aside to find what's there. Use color-coded labels to indicate which room each item should go in. Color-code a floor plan for your new house to help movers.

Keep your moving documents together in a file. Include important phone numbers, driver's name and moving van number in this file. Also, keep your address book handy.

Remember to back up your computer filed before moving your computer.

Inspect each box and all furniture for damage as soon as it arrives.

Most movers won't take plants. If you don't want them left behind, you should plan on moving them yourself.

It's a busy time, but with the right preparation it will go a little smoother!

Terrazio: Making the pitch

Mike Hulett of Jameson Real Estate talks about the state of sales and preparation for deliveries at Terrazio, located at 1935 S Wabash in the South Loop, and explains why he believes the mid-rise represents a good opportunity for buyers in a market flush with inventory.

Condo ethics in North Kenwood - Oakland, Chicago

Jerry Houlihan of Sutherland Pearsall Developers offers his take on how buyers should be analyzing today's market. Houlihan contends that price levels in North Kenwood - Oakland are unlikely to decline and that historically low interest rates make this a viable time to buy. He concedes that market softness enables buyers to negotiate a few extras.

Real Estate Agents - Discover How to Earn Extra Income With Broker Price Opinion (BPO) Orders

As a real estate agent your business may be hitting hard by the current economic downturn. Your listings no longer sell and your buyers are taking forever to make purchase decisions. Meanwhile you still have to pay office expenses, broker fees, MLS subscriptions, board dues, etc. In this article I will discuss how you can earn extra income with your real estate license in addition to selling houses. Specifically I am talking about performing Broker Price Opinions (BPOs) for banks. I will also reveal a technique I personally use to grab those BPO orders before other agents do.

BPOs are basically mini Comparative Market Analysis (CMAs). Banks order BPOs whenever they want to know the value of the properties. This could happen in many occasions; for example, the owner could be applying for refinance, or the owner could be in default, or the property could be in foreclosure or in need of a short sale. Currently there is a huge demand for these BPO orders due to the foreclosure crisis. Since banks require BPOs to be performed by licensed real estate professionals, you can put your hard earned license to good use.

There are two types of BPOs. An exterior BPO does not require you to get into the property and typically pays $40 - $50. An interior BPO requires interior pictures of the property and typically pays $60 - $90. Granted you don't earn a whole lot with each BPO order but keep in mind that a BPO can be completed in under an hour or so. Just do 3 to 5 BPOs a week will help pay for your basic expenses.

"Where do I find BPO orders?"

Although BPO orders are placed by banks, contacting banks directly would actually be a waste of time since most banks don't handle them directly. Instead, they order BPOs through asset management companies. A quick way to find these companies is to Google "asset management companies bpo." During your search you will come across some companies that are actually just directories. They usually require you to pay a fee to be listed as a BPO agent. They claim by listing on their directories the asset managers will find you. I have never had any luck with them so my advice is to save your money.

Once you find these companies you simply log on to their web site and register yourself as a "vendor." You will be asked to fill out an online application with your information. Most companies will require a copy of your real estate license, your E&O insurance information, a W-9 form, and a list of zip codes or city names of the area you covered. Once you are registered, you will begin to receive emails whenever a BPO order becomes available. To maximum your chance of getting orders, you should try to register with as many companies as possible. I personally have registered with 15 companies and I know some agents have registered with over 50 companies.

One thing to pay attention to is that some of these asset management companies are so called "BPO shops" where they only handle BPO orders. Clear Capital is a well-known example of such company. On the other hand, some companies may also handle REO properties for banks. If you do a good job with your BPOs for these companies, you will have a chance of getting REO listings. Some companies such as Integrated Asset Services will give you the listing of the property that you performed a BPO on if that property ever becomes an REO. Thus if your goal is to eventually become an REO agent (which it should be as listing REO properties is EXTREMELY lucrative), then you may want to avoid those BPO shops and focus only on companies that can give you REO listings.

"OK. I got registered but I can't get any BPO orders! What should I do?"

So you started to get emails of BPO requests. You were excited but when you replied to those requests you found the orders have already been taken by other agents. What happened? Well, when most asset management companies send out BPO requests, they don't just send to one agent but to all agents that cover that particular city or zip code. Whoever answers the email first gets the order. You may be answering your email the second you get it, but your email program may only be querying the mail server every 30 minutes. So you could still be too late by the time you respond.

What can you do about it? Do you need to sit by your computer all day to respond to emails? Here is my solution. I use a separate email address specifically for BPO orders. Then have all emails sent to this address also forwarded to my cell phone email address. Most cell phone numbers have email addresses associated with them. For example, a Verizon Wireless cell would have an email address in the form of cellphonenumber @ vtext.com where "cellphonenumber" is the phone number. You can contact your cell phone service provider to get that information. Once it's set up, every time a BPO request comes in, I get a text message to my cell immediately. I can then respond to the email right away. I have been able to get over 90% of BPOs since I implemented this technique.

You now have enough information to get into the BPO industry and the knowledge to beat out competitions. Start earning the extra money with those BPO orders when your regular business is slow and you may even be getting hundreds of REO listings in near future!