Chicago FSBO?

Attention: For Sale By Owners!

Why People Are Afraid To Buy From You!

Many homeowners believe that to maximize their profit on a home sale they should sell it themselves. At first glance, they feel selling a home is simple and why should they pay a broker fees for something they could do themselves? In fact, close to 25% of all the homes sold last year were sold for sale by owner (FSBO).

However, close to half of the FSBO’s said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO’s told us that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the broker’s fee which would have included many of these charges up front.

Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBO’s discovered that the lost money as a result of poor decisions outweighed the commission.

Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional. A little time spent investigating up front will pay off tenfold in the end.

Questions To Consider:

Do I have the time, energy, know-how, and ability to devote a full forced effort to sell my home?
One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes have sat on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBO’s as targets for low balling?
One of the challenges of selling a home is screening unqualified prospects and dealing with lowballers. It often goes unnoticed... how much time, effort and expertise it requires to spot these people quickly. Settling for a lowball bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?
One of the keys to selling, whether it’s a home, a car... anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had all your ducks in a row? By offering financing options you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably. A professional real estate agent will have a complete team, from lenders to title reps for you to utilize...they’ll be at your disposal.

Do I fully understand the legal ramifications and necessary steps required in selling a home?
Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.

Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?
Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals....title, inspector (home and pest), attorney, and escrow company?
Are you familiar with top inspectors and escrow companies? Don’t randomly select inspectors, attorneys, and title reps. Like any profession there are inadequate individuals who will slow, delay and possibly even cost you the transaction.

Article reprinted courtesy of Total Real Estate Solutions

News in Bucktown & Wicker Park

News from the West Town Chamber of Commerce...

DOMINICK'S DEVELOPMENT

5/1/06 Dominick's closed on the last piece of the land assembly (Perez property) necessary for them to proceed with the development. Having now invested well in excess of $1.5M on the project, the company is anxious to take the next step in the planning process. They estimate approximately 12 weeks to complete their plans and a further 60 days in the final building permit process. Subject to formal parent company approval, they are hopeful to begin construction soon, with a planned opening for late this year.

THE HISTORY:
The City's Committee on Zoning APPROVED the zoning change that Safeway needed in order to proceed with the Dominick's development on Chicago Avenue. The matter went before City Council on March 9th, 2005.
1st Ward Alderman Flores supported the zoning change after lengthy negotiations with Safeway. Safeway removed the non-competition clause from their lease and agreed to all of the conditions and recommendations made by the 1st Ward Alderman's office and by the West Town Chamber of Commerce.

CHICAGO AVENUE STREET IMPROVEMENT UPDATES

Construction has begun on the street improvement project for Chicago Avenue (between Laramie and Milwaukee Avenues). The 1st segment of the construction took place between Grand Avenue and Damen Avenue. The second phase of construction began in March '06 from Damen Avenue east to Milwaukee Avenue and from Laramie Avenue east o Grand Avenue. They will be working on one half of the street at a time - so there will be just one lane for each direction of traffic on Chicago Avenue within the work zones. The curb line will remain in place, pavement will be resurfaced to improve drainage, light poles will get painted, some sidewalks and curbs will get repaired, and signals will be updated at Noble, Ashland, Paulina, Wood, Damen, Leavitt, Oakley, Western, Rockwell and California. CDOT expects to finish all construction by July 2006.

To review, CDOT held a public meeting to present plans for improving Chicago Avenue between Milwaukee and Laramie in January 2003. Many residents and business owners were in attendance and it was clear that the majority had concerns in regards to one aspect of the plan: to widen the street thus reduce sidewalk width. Widening of the street was one of the Federal guidelines for the project in order to increase safety; however the majority of WTCC members did not want to see a reduction in sidewalk width nor a reduction in parking in order to accomplish this. The WTCC sent a letter to CDOT sharing our members' concerns; and CDOT shared our concerns with IDOT; thus IDOT approved to keep the existing cross sections of sidewalk on Chicago Avenue between the Kennedy and Pulaski. For more information call Mae Whiteside at CDOT 312-742-8122.

www.westtownchamber.org/page2.html

Bucktown Condos

Are you looking to buy a condo or loft in Bucktown/Wicker Park? If so, please email me your price range, bed/bath, parking, pets and your time frame. I will then email you a list of great properties.

If your currently working with an agent, please let me know.

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group

for all your real estate needs...

www.greatchicagorealestate.com/Comm_Bucktown.htm

Evanston Price Change, $849,000

Price reduced 25K!

Check out this amazing virtual tour!

www.pictureplan.info/il/2814grantst

Tons of curb appeal. Beautiful tree-lined street in Evanston...
Brick single-family with 4 bedrooms plus office (5th bedroom), 3.1 baths
Amazing home with little upkeep. Same owner for 25 years. Tons of detail, beautiful hardwood floors, large kitchen with breakfast bar & eat in kitchen, amazing dining room (featured in Better Homes & Garden and North Shore magazine), private & large master suite. Great house for entertaining. Step up family room with fireplace. Elegant built-ins. Professionally landscaped with sprinkler system. Brick patio.Close to Perkins Woods. Close to great schools. Great neighborhood.

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group
Founder/Realtor

www.GreatChicagoRealEstate.com

Chicago Developers

Would you like your project on the #1 web site in Illinois? Then give us a call. We would love to hear from you!

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group

for all your development needs...

Bucktown real estate...

Bucktown
By Julie Farby

Bounded on the North by Fullerton Street, on the South by North Avenue, on the East by the Chicago River, and by Western Avenue on the West, Bucktown is fast becoming one of Chicago’s hottest, most desirable neighborhoods. Likewise with its neighbor to the south, Wicker Park, Bucktown’s increasingly high rents and upscale, new condos “priced well into the six digits” have started to displace the “local artist population in favor of the yuppie crowd.” Yet despite the influx, Bucktown still retains much of its bohemian flavor and remains populated by a diverse mix of artists, young professionals, students, and many others.

Perhaps one of the most frequent questions asked about the community is the origin of the name “Bucktown.” According to the Bucktown Community Organization, “it is believed the term was coined early in the area’s history, probably during the 1830s, since many of the Polish settlers raised goats (the male of which is called a buck) in their backyards.” The Polish people called the area “kozie prery” or “goat prairie,” the legacy of which still remains today. Though the Poles have all but been replaced by a Latin community (which is in turn fleeing Bucktown for cheaper rents), the influence of early Polish immigrants persists in Bucktown’s remarkable, ornate churches.

Latin immigration in the 1960’s brought a new culture to the already cosmopolitan area. During the mid 1970’s, another group of newcomers began trickle into the area, only this time the people could not be put into any ethnic category. “Mostly middle class and native born, they recognized the amenities of Bucktown – affordable housing, both rental and ownership, good transportation, and proximity to the Loop and lakefront activities”—that make Bucktown one of the prime locales in Chicago. Still, a walk “north from the large six-way corner of Damen, Milwaukee, and North Avenue will quickly take you from posh and hip to downright coarse.”

According to the Bucktown Community Organization, remains of the “good old days” can still be found in Bucktown: “cobblestone alleys; streetcar tracks peeking through potholes; a water pump in a yard near Leavitt and McLean; old street numbers in stained glass on Oakley; privy rooms under vaulted sidewalks; and, of course, the beautiful, sturdy century-old buildings.” Clearly, Bucktown’s history is grand, but it is future is just as promising. Small neighborhood bars are found on every corner, and both North and Damen Avenues boast smoky late-night clubs and stylish bars, shops, and restaurants. Bucktown has no shortage of culture—“Gallery Point,” is the area’s central art colony, (bounded by Milwaukee, Damen, Wabansia and North Avenues), and the "Bucktown Arts Fest," continues to attract 30,000 plus art lovers to the area every August, a beloved Bucktown tradition for well over 20 years.

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group

if your thinking of buying or selling in Bucktown...

Buyers Agents in Chicago...

15 BENEFITS OF WORKING WITH A BUYER’S REPRESENTATIVE

15 things your agent should be doing for you:
1. Locating suitable properties.
2. Previewing properties.
3. Verifying the properties’ condition.
4. Suggesting necessary inspections by experts.
5. Helping buyers determine what they can afford.
6. Verifying property taxes and utilities.
7. Verifying the value of the property.
8. Advising clients on structuring an offer.
9. Presenting the offer to the sellers’ representative.
10. Negotiating favorable contract terms for the buyer.
11. Explaining legal documents needed for closing and helping secure them.
12. Assisting in securing financing.
13. Assisting buyers and their attorney in clarifying title, zoning, building codes, and access easements.
14. Referring them to qualified vendors.
15. Analyzing the future salability of the property.

per Realtor.org

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group
Ron@SaffronRealtyGroup.com

Investment & Commercial Properties in Chicago...

for all your investment needs...

Are you looking for 4+ apartment buildings, mixed use buildings, or commercial listings? If so, please let me know your requirements and I will email you a list of properties.
Please include purchase price, area, type of building, timeframe, pre-approved, and whether or not your working with an agent.

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group
Owner/Realtor

GreatChicagoRealEstate.com/chicago_investment_properties.htm

Wicker Park condos...

for all your Wicker Park real estate needs...

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group

www.wickerparkbucktown.com

Why you should buy...

7 Reasons to Own Your Own Home

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, as well as some of the costs involved in buying your home.

2. Gains. Over last five years (1998-2002) national home prices have increased at an average of 5.4 percent annually. And while there’s no guarantee of appreciation, a 2001 study by the National Association of REALTORS® found that the typical homeowner has approximately $50,000 of unrealized gain in a home.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your mortgage payments don’t go up over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will rise.

6. Freedom. The home is yours. You can decorate any way you want and be able to benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

per Realtor.org

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group

Open House in Old Town

RECENT PRICE REDUCTION TO 649K. STUNNING LAKE, CITY, AND LINCOLN PARK VIEWS, A 'WOW' FACTOR. 2 BED/2BATH PLUS DEN PENTHOUSE WITH EVERY BELL & WHISTLE. AMAZING KITCHEN & BATHS ALSO F/P,W/D IN UNIT,ALL H/W FLOORS, BALCONY. FLOOR TO CEILING WINDOWS. WALK TO THE LAKE & WELLS ST. WELLS. QUICK CLOSE POSSIBLE! . OPEN HOUSE 5/7/06 FROM 1:00-3:00. RING ...

Ron Knoll @ 773 330-2353 cell
Saffron Realty Group

happy house hunting...

List of Chicago Open Houses for the weekend...

Let me know where your looking, your price range, number of bed/bath and I'll email you a list of open houses.

If your curently working with a 'buyers agent' please let me know.

happy house hunting...

Ron Knoll @ 773 330-2353 cell
Buyers Agent
Saffron Realty Group

www.GreatChicagoRealEstate.com

Bucktown Condos

all you have to do is go to:

www.GreatChicagoRealEstate.com and ask for Ron

Saffron Realty Group
773 330-2353 cell
Owner/Realtor