A BELATED HAPPY NEW YEAR

Time sure flies…… It has been awhile since I last wrote. It is a new year. I hope everyone got off to a good start. After all, this is going to be your best year ever. Now that the holidays are behind us we can get on with our lives. The real estate market is still sluggish but there are signs of improvement. The tax credit is a good thing for both first time home buyers and also move up buyers. we are hoping the interest rates stay at the present level and do not start an upward trend. The inventory has gone down somewhat, but there are still bargains to be had out there. With the inventory shrinking investors are starting to think maybe the market has reached the bottom and is ready to start climbing again. We all believe they are right and the whole economy is on its way up. How about you? I would like to hear your thoughts on this or any other real estate issue. Email me ( skip@Riverwalk-Realty.com ) or call me (630)420-1300. Give me some imput for future discussions.

With the slow down after the holidays, most of the local restaurants are still having specials to generate additional business during this slow time for them, offering “bar bites” or other “Happy Hour” enticements. One of the locals – CityGate Grill – has a complete new menu (Both for lunch and dinner). They are offering drink specials Monday thru Saturday and music on Fridays and Saturdays. You can check out the various places on their websites for their individual offerings.

As the Year Draws to an End

As 2009 comes to an end I wanted to get this out before things get too hectic. Our real estate market is still slow, but there are positive signs that things will start to improve in 2010. There will still be plenty of short sales but hopefully the number of foreclosures will diminish. (If you are considering going the short sale route – either as a seller or a buyer – please contact me as not everyone can benefit from a short sale.) You can reach me via email at skip@juckins.com of by phone at (630) 420-1300. Enough for real estate for now. I want to let you know about a couple of things going on this month.

First of all, CityGate Grille is hosting “Toys for Tots” again this year on Monday, December 14th at 6:00 PM. Your donation of one new, unwrapped toy or monetary gift will entitle you to: CityGate Grille’s Special Complimentary Buffet, passed hors d’oeuvres, a specialty drink of your choice, and one entry for distinctive raffle prizes. It will be a fun evening, with music and dancing,  for a great cause. Please call and make a reservation – (630) 718-1010. CityGate Grille is located at 2020 Citygate Lane in the Calamos Corporate Campus on RT 59 just north of I-88.

Secondly, Morton’s The Steakhouse is offering a special holiday lunch. On December 4,10,11,17,18,21 and 22 for $25. per person you can get a three-course Prime Lunch. It includes a choice of soup or salad, choice of a special entrée, and dessert. Morton’s is at 1751 Freedom Drive in Naperville.

As usual, I will leave you with a quote: “Everyone thinks of changing the world but no one thinks of changing himself” – Leo Tolstoy

‘Til next time………..

Apparent Good News

I thought I would followup my last remarks on the state of the economy with some interesting local information. As you can tell from my previous comments, I am not a fan of the national statistics. They are what they are, but in most cases we both could use the same statistics to support our points of view – even though we are on opposite sides of an argument. So, instead of statistics, let me share what I see going on in my local area (remember – real estate is very local).

During the past 60 – 90 days I have seen an increase in activity. More buyers are buying. This is a good sign. I know some of you are thinking “that’s because of the $8,000 tax credit for first time home buyers. That maybe part of it but if you want to believe the exit polls – four out of five first time home buyers would have bought anyway; even without the tax credit. Another plus for the market is the inventory is shrinking – not as many homes on the market as there were four months ago. The third big plus is that the movement is in all price ranges – not just the entry-level homes. Does this mean we have reached the bottom of the slide? I can’t say that for sure, but a lot of people are realizing that this is the time to buy if they want to take advantage of the present market. There are too many unknowns out there to forecast this marks the upturn in the real estate market, but in my area the signs are positive. As the holidays approach I hope this trend continues throughout our nation and we move forward. I think this would be a great Christmas present for all of us.

Instead of a quote this time, how about a riddle? In many liquor stores you can buy pear brandy with an actual pear inside the bottle. The pear is whole and ripe, and the bottle is genuine; it hasn’t been cut open in any way. How did the pear get inside the bottle? If you think you have the answer, contact me. Phone: 630-420-1300 or email: skip@juckins.com .

“Til next time………..

Is the Recession Over?

I guess that depends on who you talk to – or listen to. I recently read a report from an investment company (which will remain nameless) that listed 8 reasons it believes the recession is over:
1. The leading economic indicators are positive.
2. Global economics are recovering.
3. The job market is improving.
4. The Federal Reserve’s efforts to stabilize the financial system worked.
5. Bank lending is increasing.
6. Expectations for 2010 economic growth continue to improve.
7. Housing has bottomed.
8. Manufacturing is on the rebound.
Now, I’m certainly not a financial expert and I am sure the people who put that report together have a lot more expertise in financial matters than I have, but I certainly have some questions on their statements. I won’t comment on most of them but i will touch on the ones that I am familiar with. As far as the job market is concerned I see no improvement. There are far too many people who have lost their jobs and are still out of work. Yes, some have found employment in different fields – many at a lower pay scale. Remember – because someone drops from the unemployment rate does not mean that they are employed. For many the benefits have run out and they are still without a job. Bank lending is increasing – I also don’t see this. Lenders have more stringent policies now. This is a good thing in many cases, but realtors are finding that some of their sales do not close because , at the last minute, lenders decide to lessen the amount they will lend on a property because of the declining values of homes.  I want things to improve for everyone. I also want to read and hear the truth about our conditions – not someone’s spin on it (whether positive or negative). Just the facts – plain and simple.

Let us change the subject. The season is changing and the holidays are coming.There are a lot of needy people out there. We all have something to share. It does not have to be money. It could be used clothing or just donating your time to a charitable organization that helps those in need. Do something to make the place a better world for all. If you don’t know any organizations that could use your help, contact me and I will be happy to suggest a few to you. You can email me at skip@juckins.com or visit our website www.Riverwalk-Realty.com You can also find my phone number on the website.

I’ll leave you with this quote:
“We make a living by what we get, we make a life by what we give.” (Unk)

“Til next time………….

Alfresco Dining

By now you know we like to dine out frequently. We also are huge on patio dining. Time is quickly passing so we will not have this option available much longer. Before that happens you should know that there are several great restaurants with great patios – some even have outdoor heaters that can extend the season. Here in Naperville we have Jimmy’s Grill, Timpano’s, Quigley’s, Potter’s Place, Hugo’s Frog Bar, Catch 35, Zaidi’s, and both Francesca restaurants. I’m sure I overlooked a few, but you get the idea. If you enjoy patio dining, do it now while the weather is cooperating.

Now onto real estate. The question always comes up – “How is the Market?”. I have heard a lot of encouraging comments of late, but the fact remains there are still far too many properties either in foreclosure, near foreclosure, or the lender already has title to the property. The truth of the matter is that before the real estate market can rebound this inventory needs to be reduced. In Naperville there over 1,000 single family homes in this situation. We will call them “distressed properties”. Add to this figure the condos, townhouses, and duplexes – over 500- and you can see it affects all of us. In Aurora there over 1,600 single family homes and another 600+ condos, townhouses and duplexes. What that means to us is that for our homes to increase in value, this inventory needs to be depleted. We need more people to purchase these properties. There are incentives for the first time home buyer and investors have plenty of bargains to choose from. Hopefully we will see a new trend in the market very soon. Until then we just have to ride out the present conditions. If you have any thoughts on this, please let me know. You can reach me via email at skip@juckins.com or visit my website – www.Riverwalk-Realty.com .

I’ll leave you with this quote - “Success is not a secret — it never has been. There are only a
few really good ideas, and not one of them is a secret.”
— Larry Winget

‘Til next time………..

 

Real Estate Market Update

It has been awhile since I posted any of my musings so I am probably a bit rusty. I will attempt to catch up. Because I am a Realtor I am constantly asked, “How is the real estate market?” The answer, in general, is it is showing signs of improvement – the inventory is smaller, interest rates are still historically low, first time home buyers (and those who have owned a home in the past 3 years) are taking advantage of the $8,000. tax credit. (NOTE – the tax credit currently expires 12/1/2009.) These are the positive notes. On the other side – the foreclosure numbers are still rising as the entire economy continues to suffer. Lenders are extremely slow to work with sellers that are either in foreclosure already or rapidly approaching that stage. Has the market bottomed out? No one can say for sure but the signs are pointing in that direction. That being said, remember that the real estate market is extremely localized, right down to your local neighborhood. None of the percentages you hear or read about can be applied to each individual piece of property. To find the true value of your home, contact your realtor and ask her/him to do a market analysis on your home. Your realtor can not only give you their opinion on what your home is worth, but can also give you a list of the comparables they used to arrive at that figure.

It is still a buyers’ market – that has not changed. So; if you are a seller who does not have to sell, you may want to wait before putting your home  on the market. If you have to sell, sit down with your realtor and explore all of your options. If you are looking into a short sale or foreclosure, be sure to consult with your lender and attorney before you do anything. If you are a buyer contact your lender for a pre-approval letter and start looking. There are plenty of bargains out there but like any good thing – they will not last forever.

If you have any questions, contact me via email at skip@juckins.com or call at (630) 420-1300. Also, visit our website at www.Riverwalk-Realty.com .

I’ll leave you with a quote from Benjamin Franklin -”Tell me and I forget. Teach me and I remember. Involve me and I learn.”      ’til next time.

 

A Realtor’s biggest problem

After talking with many realtors about today’s market, I came away with an interesting discovery. Naturally we always asked each other “How are you doing in the slow market?” I usually follow up “What is the biggest obstacle?” The answer was pretty much the same – getting our clients to understand that the market is extremely local. By that I mean that it varies, not only from city to city but also from neighborhood to neighborhood. Regardless if the client is a buyer or seller, the problem remains the same. All the information the media keeps putting out about the percent of depreciation homes have declined in the past few years is just an average. It can give you a very distorted picture of the market you live in. Just remember – its an average. Depending on where they received their information from will determine if the numbers really mean anything to you or not. Your best source of the real picture of you market is a full time Realtor who uses his or er expertise to give you the factual data you need. This is the individual who works this market and has the insight as to what is truly happening in the community. Whether you are a buyer or seller this is the person you should talk to. Remember also that the dynamics change from neighborhood to neighborhood. This is important if you are selling and then buying in a different area. The better informed you are, the more intelligent decision you will make. Feel free to contact me with any questions. You can reach me at (630) 420-1300, or email me at skip@juckins.com . You can also visit our website – www.Riverwalk-Realty.com .

Now to the local restaurant scene: Morton’s Steakhouse in Naperville is offering two June events. On June 8th they are hosting a book-signing reception benefiting Feeding America and on June 18th they are having a premium cigar event on their patio called “Puff on the Patio”. You can call them at (630) 577-1372 for price and/or more information.  I’ll leave you with a quote from Wayne Dyer - .“If you change the way you look at things, the things you look at change.”………… ’til next time.

More Help for Homeowners

The Obama Administration has initiated several programs designed to help financially strapped homeowners retain their homes. The specifics of the these plans can be found on the FHA or HUD website. But what about the homeowners who are keeping their heads above water for now? Maybe they should consider re-financing their present home. Why? If you have a ARM (adjustable rate mortgage) or your APR (annual percentage rate) is over 6%, this could be a wise thing to do. I will insert a disclaimer here – be sure to consult with a qualified lender before you make any decision. But back to the re-financing; mortgage lenders are advertising 30 year fixed rate loans at 4.5% for a conventional loan and 4.75% for a FHA or VA loan. By re-financing now you can lower your monthly mortgage payment significantly if you have a fixed rate mortgage. The difference on the ARM might not be as great this year, but what about the next few years? You can lock in a rate that is the lowest it has been in the last 50 years or more. If you plan on staying in your present home for awhile, this is a huge financial benefit. If you don’t own a home, consider taking the plunge now, not just for the low interest rate, but also – if you are a first time home buyer or have not owned a home in the last three years – you are entitled to a $8,000. tax credit as long as you close on the purchase of your home before November 30, 2009. This is really an opportunity for someone to purchase a home and their monthly mortgage payment could be less than what they are paying for rent right now. The choices are yours – just know that there are options and opportunities out there. Again, consult with your lender, tax accountant and/or attorney before you make any decisions. We work with several great loan officers. If you need a referral or have any questions, please contact me. I can be reached at (630) 420-1300 or email me at skip@juckins.com . You can also visit our website at www.Riverwalk-Realty.com . If everything is correct for you, move forward but do it now. Remember – opportunity knocks but YOU have to open the door. ‘Til next time………….

Taking control of your email

Thought I would pass along some information on email that I learned. As a technology challenged individual I usually have to depend on our IT genius to show me many of our computer’s capabilities, but here is something I discovered on my own. It really started when one of our clients could not email me when he was away from his home computer. He could not use Outlook from his location to send emails as he was on a different wireless network. I realized that our computer guru had us set our email address using our domain. Now, no matter where we are – as long as we have a high speed connection – we are able to receive and send emails. As Realtors, this is extremely important to our business and enables us to stay in contact with our buyers and sellers. Even if you only use email for personal use, this would enable you to have the same option open to you as you travel.

Just a little update on our market; there has been a lot of activity in our local market. I’m sure much of it stems from the $8,000.00 tax credit for first time home buyers (as long as they purchase AND close before November 29, 2009). But there are also people out there that realize the opportunities available now will not last. Some people are not sure the market has hit bottom as yet, but if the buyer is going to stay in this home for a number of years and not just buy with the intention of “flipping” the property in the next year or so, now is the time. The inventory is high, the sellers are motivated, and if you credit score is high enough, you will certainly have a great investment. Prospective buyers should contact their lender and get pre-approved before they start looking in order to stay within their limitations. Remember – interest rates are lower now than in any time in the last fifty plus years. This won’t last forever so take advantage of the rates now. If you have questions or need the name of a lender, contact me at skip@juckins.com or check our website at www.Riverwalk-Realty.com .

Now an update on our local “Bar Bites” – Francesca’s Passagio at 95 St. and Rt 59 has several. On Mondays they have wines by the bottle for half price. On Tuesdays its a chef’s tasting menu – 3 courses for $22.95 or 5 courses for $25.95. Wednesdays and Thurdays its selected martinis for $5.00. On Friday the appetizers are half price from 5 PM to 7 PM and on Sundays kids eat for free. That covers almost everyday of the week with the exception of  Saturday.

Our quote for today – “worrying is the same thing as banging your head against the wall. It only feels good when you stop.”  John Powers

“til next time.

Sell your home fast and for top dollar

Selling your home is one of the more important steps you will take in your life. I want to list some things that will help you reduce the stress and get the most from your investment. First of all, what are the reasons you decided to sell. This will determine how much time and money you invest in getting your home ready for sale. Next, find a Realtor who you are comfortable with – one that you feel you can work with. He or she will help you determine the asking price and marketing plan. They can even help you with advice on what you really need to do to get your home in showing condition. One thing to remember about pricing; the average buyer is looking at maybe 15 to 20 properties at the same time they are looking at yours. They are comparing what you have to offer as opposed to the other homes AND the differences in price. If your home is not in range you just helped sell someone else’s home. The three factors involved in selling your home are location, condition and price. You can only control two -the price and condition. Location is what it is. Be sure your home is “model home” ready when being shown. Your Realtor will give you advise on how to handle showings. Information on your home should be readily available – 24 hour hot line, virtual tour on the internet are some of the tools most Realtors will use. Next, do not disclose your motivation for selling to anyone, especially any prospective buyers. Be sure to disclose all known defects to the buyer. Most States have laws concerning this. Full disclosure is necessary to avoid any lawsuits later on. When an offer is presented go over it thoroughly with your Realtor. Be sure all the terms and conditions are clear and acceptable to you. These are just a few of the nuances that go into selling your home. Discuss the whole process with your Realtor before you list your home. You can contact me with any questions either by phone – (630) 420-1300 – or email me at skip@juckins.com . You can also visit our website at www.Riverwalk-Realty.com .

Lets move onto another of Naperville’s “bar Bargains”. ZAIDI’S – located at 1975 Springbrook Square Drive on Naperville’s southwest side – has some great mid-week offerings. On Tuesday night,  $3.00 Sushi Rolls and $4.00 wine selections; on Wednesdays, $6.00 Margaritas and $5.00 Tacos (2 per order); on Thursdays, a variety of $2.00 Sliders and and Martini specials. There is something there for everybody to enjoy.

Our quote for today – “Getting caught is the Mother of invention” – Robert Byrne.   ‘Til next time.