The Foreclosure Fairytale

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The Foreclosure Fairytale

There is a lot of misinformation out there.

I would not be surprised to find out that you have heard that a foreclosure is sometimes the best option for you. Nothing could be further from the truth. For the vast majority of homeowners out there who are in danger of losing their homes, a short sale represents a vastly superior option.

The reality is that a foreclosure is a devastating option.

As a real estate professional with the Certified Distressed Property Expert (CDPE) designation, I have put together all of the benefits of a short sale over a foreclosure in a free report that is available to anyone.

Take a look at my site and download a copy of my free report entitled “TheForeclosure Fairytale” Then contact me for a free, confidential consultation.

House Passes Senate ‘Cliff’ Bill

House Passes Senate ‘Cliff’ Bill

An interesting article posted on Realtor.com's blog about the recent 'Cliff' Bill and its effects on Real Estate.

Rent Vs. Buy

The housing market is in a flurry of activity with a change in trend.  Out-of-towners moving to the Chicago suburbs are turning to message boards and their friends asking them for advice.  First time homebuyers are confused by their options.  The question is, do you buy now or wait?

To answer this question, we need to consider market conditions nationwide.  I refer to a recent Q2 2011 Rent Vs. Buy Index conducted by Trulia.com covering 50 of the most populated cities in the United States.  The site compares rent of a two-bedroom apartment with median list price of a home to create price-to-rent ratio. The study divided these cities into three groups: a) where it is beneficial to buy a home; b) where the choice would be made on a case-to-case basis; and c) where renting is much less expensive.

The results, in brief — to bring it back home again — showed that New York residents were better off renting (a 31 – 35 ratio), in comparison to our market — Chicagoland residents were better off buying (an 11 to 15 ratio), we were beat out by Phoenix and Jacksonville with a 6-10 ratio to buy.
Right now, for buyers interested in Chicagoland properties, ‘buying a home is more affordable than renting an apartment’.

(Source: The Huffington Post)

Here is some news from the other side of the fence — people are buying homes because they’re taking advantage of the lowest mortgages in history, the lowest prices in history, and the best options in history.  Ryan Hill Realty has had several happy buyers during these ‘down times’.  We’ve been fortunate because our clients trusted us with such an important decision in their lives.  I urge you, if you are considering buying a home, get informed and choose a Realtor who knows their stuff.  You can have your ‘American Dream’ in spades.

20 POWERFUL QUESTIONS TO ASK A REAL ESTATE REALTOR® BEFORE YOU SIGN A LISTING CONTRACT TO SELL YOUR HOME

1. How long have you been selling real estate?
2. What is the percent of Sellers compared to Buyers that you serve?
3. Can we cancel the listing if we’re not happy?
4. Do you recommend that I hire an attorney?
5. May I see your resume or personal brochure?
6. What systems do you have in place that will keep you in constant contact with me during the listing and the transaction?
7. Are you fully automated with your own personal computer, fax machine, copier, pager, mobile phone, etc.?
8. May I see all the paperwork that you are going to ask me to sign?
9. What professional designations do you have?
10. I want to give my home the advantage of the latest marketing strategies. How much time and money do you invest each month in professional training?
11. Why are you personally motivated to sell my house?
12. Why should I list with you rather than any other REALTOR® who is calling on me?
13. What kind of experience and training do you have in negotiations?
14. How many homes do you sell in a year?
15. Will you personally be there when contracts are presented and handle all the negotiations?
16. Do you have a web site?
17. Will you directly market the property on the Internet?
18. Do you follow-up on all showings on the house and report the comments back to me?
19. What part of your business is from referrals/past clients?
20. Do you market with direct mailings on my property?

It’s likely that you don’t interview people very often. And yet, in order to find the REALTOR® who is right for you, you may interview several. The quality of your home selling experience is dependent upon your skill at selecting the person best qualified.

It’s interesting that in the real estate business, someone with many successfully closed transactions usually COSTS THE SAME as someone who is inexperienced. Bringing that experience to bear on your transaction could mean a higher price at the negotiating table, selling in less time, and with the minimum amount of hassles.

The world is populated with REALTORS who are wrong for you. For example, the housewife who sells an occasional house because she needs a little pocket change, or the insurance salesman who believes he can handle two careers, or perhaps your cousin, who really needs your business.

The sale of your home could well be the most important financial transaction you have ever been involved with. The person you select can make it a satisfying and profitable activity, or a terrible experience. It’s your home, and your money. The choice of your REALTOR® is up to you. Make the selection carefully.