28 Oct, 2007 in Real Estate Tips by Cristina

There are many upgrades that will simplify your life and boost the saleability of your home but most of the time the simple things are just overlooked. Here are some tips on how to maximize the space in your house and make more more room.

1. Closet organizers - Canvas sorters

The simplest way to expand closet space is to buy sweater cubbies that hang from the closet rod, back-of the-door shoe compartments and storage boxes for the shelf and floor.

Price: $100 to $400 (for an eight-foot-wide closet)

Where to buy: $12 to $22 canvas bags from StacksandStacks.com

2. Closet organizers - Wood system

This setup looks professional, but be ready for a major project. You must first assemble boards into shelves and then hang them on the closet wall. For strength, go with boards that are three-quarters of an inch thick, not five-eighths of an inch, and a wood veneer or at least melamine (white laminate) finish instead of painted particleboard

Price: $400 to $1,000 for melamine and $800 to $1,600 for wood veneer

Where: EasyClosets.com

3. Closet organizers - Metal system

You can arrange these metal shelves and baskets in nearendless ways. European makes like Elfa (sold only at the Container Store) are higher quality than domestic products but pricier.
Metal shelves are easier to install than wood systems. Still, buy an electronic stud finder ($10 to $30) to ensure that your screws hit pay dirt, because the whole heavy array hangs from a single horizontal track

Price: $500 to $2,000

4. Cabinet organizers - Rollout trays

Install one and you’ll never have a hard time reaching the back of a low cabinet.
Look for a wood or chrome-plated steel tray with full-extension glides (so that it pulls out all the way) and at least four screws to hold it in place.

Price: $40 to $100 each

Where: organize.com

5. Cabinet organizers - Drawer inserts

Make all your silverware and odds and ends neat and easy to get to. With adjustable drawer inserts, you can move the dividers around to fit your needs.
Custom drawer inserts cost more but deliver a lot more too. The drawer insert and the dividers are sized to order, so you can accommodate odd-size drawers and supplies.

Price: $10 to $15 and $70 to $250 for a custom divider

Where: KitchenSource.com

6. Cabinet organizers - Corner Susans

This add-on will make that impossible-to-access cornercabinet usable.
Be careful to get the right configuration - full round, pie cut or half moon - for your cabinet’s shape

Price: $150 to $250

Where: Revashelf.com

28 Oct, 2007 in Real Estate News by Cristina

Number of vacant homes on the market nationwide has reached the 2 million mark. The number of vacant homes for sale rose in the third quarter, according to the latest government reading that casts new harsh light on the weakness of the housing market.

The Census Bureau report puts the number of vacant homes for sale at 2.07 million in the period, up about 2 percent from the second quarter, and 7 percent above year ago levels.

The number is down 5 percent from the record high reading reached in the first quarter, though.

For purposes of comparison for the current situation, imagine the Detroit metropolitan area, which the Census Bureau estimated had 2.08 million households in its 2000 Census. Now picture virtually every house or condo empty, with a for sale sign in the front yard of every home, from inner-city Detroit to its suburbs, all the way to nearby cities such as Flint and Ann Arbor.

There are always some homes vacant and for sale, even in a booming real estate market.

Read Full Article ->

6 Oct, 2007 in Real Estate Tips by Cristina

This is a great time for buyers to invest in second homes. Chicago has an abundance of great condos at good prices with great rental and appreciation potential. Besides appreciation and rental income, second homeowners can add to their income with great tax deductions.

Mortgage, taxes and insurance

  • Property taxes
  • Property insurance
  • Flood insurance
  • Liability insurance
  • Mortgage interest
  • Private mortgage insurance (PMI)
  • Refinance and closing fees

Homeowner’s association

  • Monthly assessments
  • Special assessments Read Full Article ->

6 Oct, 2007 in Chicago Real Estate by Cristina

Inventory is rising, sellers are running out of incentives and buyers are walking away from closings because of financing trouble. We are currently experiencing the effects of a free falling real estate market and one of the solutions for both sellers and buyers could be the “Rent to Own” option. Hardly used in Chicago’s real estate market in the past, -rent to own- seems to be the only option for buyers with blemished credit and sellers with the urgency to sell.

Developers started the –rent to own- craze, after the free plasma TV and the credit for closing costs trend wasn’t helping buyers become homeowners. Those last 2 – 3 units in a development are offered as a –rent to own- option to serious buyers. The trend has been accepted by all sellers that have a hard time selling their property. Read Full Article ->