Sellers and Buyers Looking for Some Action? Jump into the Real Estate Market!

Since January 2013, a scarcity of housing inventory in the Chicago ‘burbs has caused a figurative gold rush in the real estate marketplace! In the North and Northwest Suburbs, for example, investors and buyers engage in bidding wars on almost every townhouse or single family home that pops up on the MLS Multiple Listing Service! Depending on the property’s location, condition, and price, it’s common for sellers to receive two to ten multiple offers within a matter of days!

This sense of urgency on part of buyers is especially apparent during the months leading up to the fast-approaching school year, as parents want their families settled into their new dwelling when school begins.

Two other driving forces include slowly climbing house prices, coupled with rising interest rates. In January 2013, a fixed-rate, 30-year mortgage could be had for 2.5% interest, while current interest rates waver between 4.5 and 4.75%. This increase adds a couple hundred dollars on to the buyer’s monthly mortgage.

I am a Realtor with Coldwell Banker. If you or someone you know is in need of real estate advice and numerous property listings Imagefrom a experienced real estate professional (and not working with another Realtor), feel free to reach out to me at 847-293-5696 or realtorjennie@aol.com. http://www.jenniespallonerealtor.com

Short Sales and Re-Financing Doing Fine, Thank You!

As of March 1, 2012, President Obama’s new program on Short Sales mandates that lenders holding a property in Short Sale must give an answer to a prospective buyer within 60 days. Bank of America, one of the largest holders of Short Sales, has adopted a new program to shorten the time frame required to complete its research  — as long as the Hardship Package and all pertinent documents have been turned in at the onset. 

Obama also cut the credit requirement for a current owner to get refinanced to stay in her/his home. The thinking is that it’s more productive for the bank to assist the current owner, the person who is emotionally and financially invested in the house,  rather than put it on the market as a Short Sale or Foreclsoure. In the past, three month refinancing trial periods have resulted in the owner owing more than what she or he started with. This is another area that is being investigated. For more information, contact realtorjennie@aol.com or another Realtor who specializes in these matters.

Buffalo Grove Great Frame Up

Have you gone through an economic period where puzzles were the only art pieces you could afford? Ever thought about reframing those hand-me-down pictures, paintings, posters, or maps? How about brand new wall hangings? The Great Frame Up www.lifeissimplyart.com in Buffalo Grove at 765 S. Buffalo Grove Road, 60090 can effectively service all your framing needs — all for a great price.

When my kids were little, I put together my share of puzzles during their nap time. Everything from Rousseau to Renoir, with a little bit of wild animals thrown in for good measure. The Great Frame Up made them all look authentic — a bit scary for the kids, but whatever!

Recently, The Great Frame Up worked with me to re-frame a handful of paintings I’d picked up at local arts & crafts fairs. What I liked was that I had a choice of assembling those frames under the manager’s expert instruction, or having her assemble them for me. This time around, I chose Option I. My husband even joined me in the endeavor — a new shared adventure, to say the least.

Give Sharon at The Great Frame Up in Buffalo Grove a call and tell her Jennie Spallone from Coldwell Banker Real Estate in Buffalo Grove sent you. You’ll be glad you did!

Rechargeable Batteries in Mt. Prospect

Batteries Plus in Mt. Prospect, Ill. gave me back my sanity — or should I say, rechargeable battery

Fifteen months ago, I bought a display model, palm-held Samsung video recorder from Best Buy in Arlington Heights, Ill. Rather than try out my new video recorder right away, I stored it in a “safe place” so it wouldn’t get lost. When it was time to record my son’s basketball game, I’d forgotten the location of that “safe place.”

By the time I found my video recorder, the one year warranty was over. The Geek Squad at Best Buy referred me to Batteries Plus where Glen sold me the difficult-to-find rechargeable battery. Batteries Plus sells every kind of battery imagineable. When it comes to batteries, they’ve got the answers! Check them out at www.batteriesplus.com

They’re Terrific Real Estate Attorneys!

These days, it’s common to plop down in a seat at the real estate closing table  only to learn the mortgage banker didn’t come through with the buyer’s loan, or the seller neglected to get a final water meteor reading! Minor bumps in the road, to be sure, but still annoying.

That’s why, whether I’m representing a buyer or a seller, I love using Buffalo Grove Attorneys David Stollman, Elliott Hartstein, and their wonderful paralegal, Patty Jacobson, www.davidstollman.com. They’re right on point when it comes to getting documents researched, questions answered, and staying in communications with all parties.

Most important, they’ve smoothed many a ruffled real estate transaction in their time. For this, I say thanks guys….

Sing, Meditate, Play Chess!

With our busy work and kids schedules, it’s sometimes fun to veer off the blacktop and take an alternate route! Indian Trails Library in Wheeling, Illinois is hosting some cool events this month you might be interested in doing:

Do you or a family member like to sing, dance, recite poetry, act? Tomorrow, Sat. Oct. 2, from 2:00 to 3:30 p.m., the library’s having a variety show in which you can participate! Yes, I’ll be there singing my little heart out! Call Alva at 847-279-2252 to participate or just enjoy!

The next day, Sun. Oct. 3, the library’s scheduling a Chess for all Ages gig from 1:30 to 3:30 p.m. for newbies and veteran chess players. These chess classes always appear action-packed when I happen to walk through that section of the library!

And on Wed. Oct. 6, join me from 1 to 2:00 p.m. when I participate in a Guided Meditation session. These free sessions meet every Wednesday throughout October. Free is such a good price to get in touch with yourself!

Register at www.indiantrailslibrary.org. Let me know if you’re coming to any of these awesome programs! www.jenniespallone.facebook.com or www.jenniespallone.twitter.com

Jennie

Then on Wed

You Need to Know!

Everybody says I’m the best resource for anything they need to find out about! Probably that’s because being a Realtor, I’m a published suspense author. In both realms, I’m accustomed to asking lots of questions and getting lots of answers!

For my very first blog on WordPress, I’d like to introduce you to a high school in the northwest suburbs. Wheeling High School in Wheeling, Illinois on Rt. 83 and Hintz Rds. is a school you need to know about, especially if you’ve got a student who excels in math, science and technology.

This fall, Wheeling became one of a handful of high schools in the state to receive a grant implementing the STEM program; a comprehensive high school with a focus in Science, Technology, Engineering, Math. In August, educators, business leaders, and political leaders throughout Illinois came to WHS to discuss new programs and initiatives that will prepare students for the workforce of the future.

This Program will focus on teaching students of all socioeconomic levels to achieve success in the new economy. As a former educator, I envision higher performance scores in the math and science subtests of the ACT, leading to increased college/university options for these students.

For more information, log onto Wheeling High School http://www.d214.org, or just give me a holler!