Tales From the Conscious Real Estate Agent

I am preparing a property for sale. To do this I've been over to preview the condo and become more intimately familiar with the building it is in. It's a very large loft building. The condo currently has a tenant leasing the unit. Her lease is up at the end of March, then she plans to live there on a month-to-month basis with a 60 notice for move out. Luckily, this is a conscientious tenant who keeps the place in immaculate condition. I've had cases where this isn't so and it's a real nightmare! The unit is a small one bedroom with edgy loft features. There are brick walls and timber ceilings and it's on the top floor of a low-rise courtyard building. It's very cool with its hardwood floors, stainless steel appliances and huge windows. Its a first-time buyer's perfect first home. I just hope that first time buyers are active and not too worried about losing their job or their 401k. We've got to get this economy rolling again and first time buyers can take advantage of the latest incentives that President Obama just signed into law.
I will be posting the listing tomorrow morning. Meanwhile, tonight I am thinking about all my sellers and hoping that they will have some showings scheduled really soon. Open houses are great, but some buildings do not allow them. What other ways can I market that will excite a buyer in this market? Will I sleep tight tonight?

Confessions of Shopaholic-ism

I hate to admit that I saw the movie, but I did. Even worse, I dragged my husband along.. We stayed through the entire movie and rather enjoyed ourselves. We chose the movie because we’ve seen every single movie out right now that was worth seeing, including He’s Just Not That In to You. Both are silly movies that actually left us smiling. But I digress. What I wanted to share with readers are the thoughts that ran through my head after the movie. It’s the tale of a young woman who gets enthusiastic about over consumption and incurs massive debt. She finds her way to happily ever after, as movies sometimes do. But debt burdened American’s won’t be saved within a 2 hour story line.

Of course the movie was conceived and made well before our national economic crisis. But you have to wonder how the movie company made the decision to release this film right now. I think it’s exactly because of the times. Hello, may I introduce you to a picture of you, America? Did you incur massive credit card debt? How about your home, did you purchase one that you truly could not afford? Or may be you sucked the equity out of your home in order to purchase, well, everything! Are you running from debt collectors? Have you lost your job? You might as well be the young woman with the Gucci bag full of over-extended credit cards. We are a country of Shopaholics! We suffer from shopaholic-ism. We’ve been on the see it, charge it, and try to pay for it, program.

Whoops! Stop the train! Shopaholic-ism has been thrown off the track. We followed the heard to the over-consumption hotel and now we are having shock treatments at the asylum. The housing market has crashed and whether its because of the greed of lenders, “liar loans”, stupidity of buyers, what ever the reason…it’s over. So, go to your fearful place like the rest of the heard and stop. We’ve been forced to stop, we’ve been told to stop and now stopping has brought the rest of the economic crisis to a head.

No spending results in retail deaths. Obviously, we have to find some kind of balance, but how? Our homes may be gone or worth less and our retirement funds aren’t worth talking about. Now what? Now you shopaholics have no shopping power left. You’ll have to hope the President will give you a happily ever after ending scenario that will save you.

Meanwhile, I desperately hope this country can get over itself and become a bipartisan, love America, save America country. Let’s walk on the best path possible. I’m listing two small one bedroom condos in the West Loop in the very near future. Both will be listed at lower than expected, but current market value pricing. That means that those of you who did not loose your shirt in the stock market or over spend should read the signals. If you have not been a shopaholic, you actually have a job, positive credit rating and money in the bank, then you can take advantage of lower housing prices, lower interest rates and buy a condo or a house at a great price. Homebuyers step up to the plate. Americans are counting on you.

Breaking Down the Recovery Act

There has been so much news regarding the programs President Obama signed this past week, I thought it might be helpful to break down a couple of key points that effect the real estate/housing issues. This past Tuesday President Obama signed The American Recovery and Reinvestment Act of 2009. I know how complicated it all sounds. I don't pretend to understand it all, and it is very early to say how much and how quickly relief will come. I have chosen a couple of big items that I thought might be helpful information to break down.

The Home Buyer Tax Credit, which has gone through many alterations, here is the final facts as they are now written:

– The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

FHA, Fannie Mae and Freddie Mac Loan Limits -The bill reinstates last year's 2008 loan limits for FHA, Freddie Mac, and Fannie Mae loans. These limits were equal to the greater of 125% of the 2008 local area median home price or $271,050 for FHA and $417,000 for Fannie and Freddie, with an overall maximum cap of $729,750. For the few areas where the 2009 limits were higher, the higher limits will apply. In addition, the bill includes language providing the HUD Secretary with the discretion, if warranted, to increase the loan limit for any “sub-area”, i.e.an area smaller than a county. The Secretary's discretion is again limited by the $729,750 cap. These 2009 limits will expire December 31, 2009.

The inclusion of these loan limit provisions in the final bill is a victory for homeowners, buyers and Realtors. While these new limits were included in version of the original stimulus bill approved by the House, the bill first approved by the Senate did not. The National Association of Realtors worked hard with partners to get this provision through the Senate.

Energy Efficient Housing Tax Credits & Grants - To promote green jobs and energy independence, ARRA invests significantly in efforts to make homes and buildings more energy efficient. The bill provides state and local governments with $6 billion in energy efficiency and conservation grants for energy audits, retrofits and financial incentives. Through 2010, homeowners will be able to claim a 30% tax credit (up from 10%) for purchases of new furnaces, windows and insulation. Another $5 billion will be available to modernize the nation’s electricity grid and install smart meters on homes that help to save consumers money. There is also $5 billion for weatherization assistance for low income households and $2 billion for federally assisted housing (section 8) efficiency efforts.

As President Obama continues to push for aid and reform we can all do our part by being educated, voicing our opinions and showing support where ever we can.

Yes, You CAN Live on Lake Shore Drive in Chicago

Did you think you’d have to pay $1,000,000 to live on Chicago’s famed Lake Shore Drive? Try this out and tell me what you think. I have a listing for the luxury buyer who knows the value of location and quality design. The building is magnificently located on the corner of the ultrachic Oak Street and beautiful Lake Shore Drive. Just across the street from the tip of Chicago’s Magnificent Mile where everything fine is at your fingertips. 1000 N Lake Shore Plaza is the address. The building, built in 1964 was once the tallest residential building in the city. Now, some of the units are dated and in need of renovation. The building itself is in fabulous condition. That is way this unit is such a tremendous value! The sellers completely redesigned their home from its original 1964 condition. It is understated and elegant. From the cherry hardwood floors in the living/dining/den area to the top-of-the-line appliances in the gourmet kitchen, every detail is a delight! No, this unit does not face the lake. You get a peak of the lake from the kitchen and dining room. However, to get a unit in this location facing the lake that has all new windows, interior doors, flooring, appliances, luxury baths, custom closets, surround sound system, brand new washer/dryer, balcony, and so much more, you would absolutely have to pay at least $1Mil! This unit is listed for sale at $875,000. A great price! AND you are still right on Lake Shore Drive!

Situated on the 31st floor the home has 2100 sq. ft. of perfect space. There are two large bedrooms, 2 ½ baths plus a lovely library/den with built-ins that are perfect for your entertainment center and books. From the window of the kitchen you can enjoy your morning coffee and the view right down Michigan Avenue. From your master bedroom suite you can be in awe of the sunset every night. My sellers love to take photographs of them because they are just so gorgeous.

The amenities in the building are unbelievable. A recently redesigned exercise room offers all of the latest equipment. And that is not all! There is an indoor swimming pool, sundeck, party room and dry cleaners in the building. The parking is valet and each resident is allowed 2 cars. The highly professional staff in this building makes life so easy. The front door staff will help you with anything from getting a cab to bringing your groceries up to your unit. I can’t rave enough about this building!
Get more information about this Gold Coast/Lake Shore Drive condo by contacting me at 312-264-5878 or www.rubloff.com/randee_simborg. Or shoot me an email at rsimborg@rubloff.com. I love showing this listing!

Post Holiday Smiles in Chicago

When I woke up this morning the first thing I said to my husband was, I can't believe the holidays area already over! Wow! That went by so fast! We had our quieter than usual New Year celebrations that were the best ever. We gathered with close friends and toasted the end of 2008 with relish! Not a year we were sad to see go! We are putting on our best optimistic faces for this new year. Our world is more aware than ever of global stresses, so this will be a year where we will see hands stretch out to work together. Our new president will take office and will bring with him much needed changes. The auto industry will be forced to become more in tune with out current ecological and economic needs. Retool! America must get it's act together, hold our heads up and rebuild. It's time to look into our own lives and see what we can do to improve our lives and those around us.

The city of Chicago encourages green living by requiring residential buildings to participate in recycling programs. We have a green roof initiative here. We have a smoking ban in all restaurants, pubs and public buildings. Like many other eco-friendly cities, Chicago also has a recycling program for Christmas trees. You may be over the holidays, but that tree still needs to come down. You don't want to be one of those people that still have the tree up on Valentine's Day!

Alderman Reilly of the 42nd Ward, which covers the Gold Coast, Streeterville, River North, Old Town and some of the Loop and South Loop neighborhoods has this information to share with us.

Christmas Tree Recycling Program

Please do not throw your Christmas trees into landfills--- recycle them instead! The Department of Streets and Sanitation will be recycling trees at many locations throughout Chicago, including the following near the 42nd Ward:
Grant Park, 900 South Columbus Drive
Lincoln Park, Cannon Drive at Fullerton (parking lot east of Cannon Drive)

These drop-off tree recycling centers will be open from Saturday, January 3 through Friday, January 16. Trees will be chipped and turned into mulch to be used in City and residential landscaping projects-- free bagged mulch will be available to residents to pick up beginning Friday, January 9th.

Please also remember to recycle your used gift wrap and boxes! For more information about recycling in Chicago, please visit www.chicagorecycles.org, the Chicago Department of Environment website.

We may have a below zero degree day or three, but we love our city! As we all know, it takes an entire village to raise a child. It takes this grand city and all of our citizens to keep Chicago as beautiful and progressive as it is. Just don't google "Blogojevich!"

Happy new year everyone!

The Spirit of Giving Lasts All Year Long

The holiday spirit lives 52 weeks a year at the First St. Paul’s Evangelical Lutheran Church located at 1301 N. LaSalle Drive, in the Chicago Gold Coast neighborhood. The church was the first Lutheran church in Chicago, founded in 1847 and has remained in the same spot ever since.

Every Saturday morning for over 30 years volunteers have manned the kitchen to serve what the modestly call “Community Meals”. The volunteers come from the community and also from corporations like Allstate Insurance. There are 6 rotating teams made up of 10-12 people who arrive at the church around 9 am, roll up their sleeves and start cooking. Under the benevolent guidance of the program leader, Sandy Wilborn, they heat up the ovens, haul out the tables and chairs and get ready for their guests. The program is mostly funded by individual church parishioners, but also from outside companies including a grant from American Express. From time to time there are volunteers from The Latin School and Concordia College.

Generally there are 120 to 180 guests served each week. People find out about it by word of mouth. There has been a marked increase in recent months, reflecting these difficult times. The guests are served a hot meal consisting of a meat course, a vegetable, bread, and fruit. Coffee and juice are offered. The guests begin lining up outside the church a couple of hours before the doors open at 11 am. The meal time is over around noon. All together, the volunteers are there from about 9am until 1pm when everything is cleaned up.

Two generous area Podiatrists come in once a month and volunteer their services to help people with foot problems. They give away socks and shoes, and occasionally other items. Their service is confidential and invaluable.

I have gone to help out a couple of times, brought into the program by my husband Phil, who has volunteered there for about 1.5 years. We are not members of the church, but we live nearby and enjoy helping.

I was especially struck by two gentlemen whose record of service is nothing less than heroic. One of the regulars is Jim Warneck, from Allstate, who has come almost every week for 6 years. The other is Pat Laure, also from Allstate, who has been coming for 2 years. These two incredible men have been known to shlep to places like Costco and Walmart hunting down bargain socks and gloves, like those given out one cold morning to each guest. That’s a lot of gloves and socks! Jim and Pat are two of the many people who give their time, their smiles and their hard work to people who truly are grateful for that warm meal. And ladies….they are single.

It’s exciting to live in the Gold Coast and see that in the heart of one of the wealthiest communities in the world there are people who care for those less fortunate and do something about it. The program is always in need of volunteers and donations. If you would like to help, please give Sandy Wilborn at call at 312-642-7172

Hello Chicago Gold Coast Neighbors and world! Today I am reflecting on this holiday season. The year has been amazing in many ways. Between the stock market, economy and the scandals, the politics and the election results, we haven't been bored. Chicago in December has it's beauty and it's challenges. We've been snowed and iced, tomorrow we expect to be frozen stiff! So, whether you are reading this from the comfort of your Chicago home or from your vacation or family retreat, I want to wish everyone the happiest of holidays and the very best in the coming new year. Below I have copied a newsletter from 42nd Ward Alderman, Brendan Reilly. There is a lot of great information here. Enjoy! Happy Holidays from Alderman Brendan Reilly!

Alderman Reilly's Illegal Billboard Ordinance Approved by City Council The City Council voted this week to approve Alderman Reilly's ordinance to crack down on sign companies that erect and operate billboards illegally without the required city approvals and permits. This ordinance increased the fines to $10,000 per offense for off-premise advertising billboards that are larger than 499 square feet. There are hundreds of billboards operating illegally in the City, many of which are located downtown in the 42nd Ward, and enhanced fines for violations will help ensure that the City's ordinances and approval processes are respected and followed by sign companies. _____________________________________ Kingsbury Alley Update Alderman Reilly successfully resolved the "Kingsbury Alley" issue, a blighted and inoperable extra long private alley that runs east-west between Orleans and Kingsbury Streets. Representatives from the two condominium associations who owned the alley signed the property plats over to the Chicago Department of Transportation, and Alderman Reilly will sponsor the enacting ordinance to memorialize the official dedication. The City of Chicago has a mandatory "construction moratorium" during the holiday season and winter weather conditions will preclude any large-scale reconstruction efforts prior to this Spring 2009. However, at Alderman Reilly's request, Commissioner Tom Byrne of the Dept. of Transportation graciously agreed to perform temporary patching to improve the alley for the winter months until the permanent improvements commence. We are pleased to report that this temporary patching has been completed. Alderman Reilly is looking forward to delivering a brand-new, fully reconstructed public alley to River North this coming spring. _____________________________________ Snow and Ice Removal With the accumulation of more snow last night and this morning, the Department of Streets and Sanitation has been working around the clock to plow and salt the streets to ease today's commutes. While the City streets are being cleared, we would like to remind business owners and residents to please keep sidewalks free of snow and ice, for the safety of our entire community! For special concerns with snow removal, please do not hesitate to contact our office or the Office of the 42nd Ward Department of Streets and Sanitation at 312-744-5026. If you need assistance outside of regular office hours, please contact 3-1-1. ____________________________________ Join the 42nd Ward USPS Customer Advisory Council! Alderman Reilly is working with the United States Postal Service to recruit volunteers to participate in a neighborhood-based USPS Customer Advisory Council for downtown Chicago's 42nd Ward. This Advisory Council with help local postal officials and managers to clearly identify customer needs for the purpose of improving postal service for residents and businesses in downtown Chicago. Alderman Reilly is eager to work with the United States Postal Service to address the many challenges that local residents and businesses are experiencing with postal service in downtown Chicago. By working directly with the Postal Service and the USPS Customer Advisory Council, Alderman Reilly is looking forward to developing a keen understanding of customer expectations; resolving general service issues; improving community partnerships; and significantly improving mail service for the residents and businesses in the 42nd Ward. Members of the Postal Customer Advisory Council will be asked to provide postal officials with recommendations and will be invited to assist Alderman Reilly's office with the implementation of solutions to help improve mail service. The next Advisory Council meeting is scheduled for January 14, 2009 at 6:00 pm at Fort Dearborn Post Office, located at 540 North Dearborn. Please consider joining the 42nd Ward Postal Customer Advisory Council to help Alderman Reilly and the United States Postal Service develop creative solutions and fresh ideas to improve USPS customer satisfaction in downtown Chicago. If you are interested in joining the Advisory Council, please contact Nuntida Sirisombatwattana in Alderman Reilly's Constituent Service Office at (312) 642-4242 or via e-mail at Nuntida@ward42chicago.com. _____________________________________ 18th District Police Department Events and Holiday Safety Reminders Warm Hands, Warm Hearts Join the 18th District Police Department in a holiday drive to help Chicago's elderly! Donations of new gloves, mittens, scarves and socks are needed. Donations can be dropped off at the 18th District community policing office at 1160 North Larrabee Street. For more information, please contact Officer Ferguson at 312-742-5778. Holiday Food Drive The 18th District Explorer Scouts need your help in collecting donations for their annual food drive. Non-perishable food items can be dropped off in the lobby of the 18th District police station at 1160 North Larrabee Street from November 1 until December 19, 2008. For further information, please contact Officer Robert Minor at 312-742-5778. Holiday Safety Reminders The Chicago Police Department is committed to your safety and security, and would like to encourage the use of crime prevention methods and safety techniques, in the spirit of cooperation with the public they serve. The Chicago Police Department would like to offer the following safety tips to make sure that your holidays are safe and secure: If you will be away for the holidays, give your home an "occupied appearance" by leaving some lights on, and let a trusted neighbor know if you will be gone for an extended period of time. Return the favor, and create a "neighborhood watch"! Never leave your purse in a shopping car or upon a counter unattended while you shop. Transfer valuables and shopping bags to the trunk of your car before, not after, you reach your destination. Keys should never be carried in your purse-- keep your keys in your pocket. Remain alert at all times! For more tips please contact the 18th District Community Policing office at 312-744-5778, or visit www.chicagopolice.org. ____________________________________ Use an I-GO Car For Your Holiday Shopping! Alderman Reilly is a vocal proponent of many initiatives that are helping Chicago to become an environmentally-friendly and sustainable city, including the I-GO Car Sharing program. I-GO is a Chicago-based non-profit organization dedicated to providing economical and environmentally-sound transportation choices. I-GO's goals are to reduce car ownership rates, lower family transportation costs, reduce urban congestion and improve air quality in all neighborhoods. There are I-GO cars at numerous locations in the 42nd Ward, within walking distance of thousands of households. To view a complete location map, please visit www.igocars.org/locations. Alderman Reilly requires that all new residential and parking garage developments include I-GO cars, ensuring that this program will continue to expand and serve even more Chicago residents. In further effort to improve transportation options in the City of Chicago, last month the Chicago Transit Board approved a proposal by the Chicago Transit Authority and I-GO Car Sharing to launch a joint smart card that can be used to gain access to I-GO cars and ride the CTA. For additional information, please read recent press releases here. _________________________________ Home Depot Weatherization Vouchers Winter is just around the corner, and Chicagoans will soon be faced with the challenge of heating their homes amidst rising energy costs. Our office has a limited number of $40 vouchers available for the purchase of a variety of weatherization materials (such as programmable thermostats, filters, insulation and weather stripping) at all Chicago Home Depot locations. Please call or stop by our Constituent Service Office for more information or to receive a voucher. _________________________________ Save Energy with a FREE Light Bulb Alderman Reilly, the Citizens Utility Board (CUB) and the Department of Environment want to help you save energy and money this summer. Compact Fluorescent Light bulbs are available at Alderman Reilly's Constituent Office (one per person). In order to receive a free bulb, please be prepared to sign up with your name, address and email. These bulbs last up to 9 years and use of up 75% less energy. That's 10 times longer than regular light bulbs! Feel free to stop by the Constituent Service Office during our normal business hours to pick up a free light bulb. For more information please visit www.citizensutilityboard.org or www.cityofchicago.org/environment. __________________________________ Street Closures and Construction Due to building work at 664 N. Michigan Avenue, the west sidewalk of Michigan Avenue between Erie and Huron and the north sidewalk of Erie between Michigan Avenue and Rush Street are closed. In connection with construction at 108 North State Street (Block 37), the underground Chicago Pedway from Dearborn to State remains temporarily closed. Dearborn, Washington and Randolph Street vehicle lanes are reduced, and sidewalks are closed around the construction area. The construction also affects some bus stop locations and one rail station entrance. The streetscape project continues on Wabash Avenue between Wacker Drive and Harrison Street. Two lanes of traffic and pedestrian access are maintained. For more information, see the CDOT website at www.cityofchicago.org/transportation The northbound curb lane and east sidewalk on Wabash Avenue from Wacker to Kinzie Street is closed through the end of December 2008 due to viaduct replacement for the Trump Tower building. ---- For the most up-to-date information regarding Chicago street closures affecting you, please click here for the Office of Emergency Management & Communication's Street Closure Permit database. This database provides online access to all street closure permits granted in the city. ____________________________ 42nd Ward Website The 42nd Ward website is designed to help local residents, businesses and community groups find quick answers to questions about city services and programs. On this site you'll find links to the most requested city services and other useful resources located within downtown Chicago's 42nd Ward. Please visit the Alderman Reilly's "virtual office" at www.ward42chicago.com. _________________________________________________________________________________

Office of Alderman Brendan Reilly 311 W. Superior St., Suite 212 (312) 642-4242 (312) 642-0420 (fax) Office of Alderman Brendan Reilly City Hall 121 N. LaSalle St., Room 300 (312) 744-3062