Condos in Hanover Park this Sunday!
Refreshments, entertainment and the opportunity to win a $250Â gift card are in store for visitors to the grand opening celebration this Sunday, May 25th, 2008, at Pebblewood Court Condominiums, 2230 Breezewood Terrace in Hanover Park.
The developer of Pebblewood Court is throwing open the doors on what promises to be a beautiful, 80-degree day, inviting individuals and families to drop by for a visit. One- and two-bedroom condos will be available for touring and friendly Realtors from OwnACondo.com will be on hand to answer questions.
"Come on out!" says Diane Farino, organizer of the event. "We've got great, affordable housing right near the Hanover Park commuter train station and we want to let everyone know about Pebblewood Court."
The fun-filled afternoon will run from 1 to 4 p.m. and will include free Old Neighborhood hot dogs to the first 150 attendees; magic, balloon creations and face painting with Hokey the Clown; a visit by the Hanover Park Fire Department (depending on availability) and games of bean-bag toss.
Visitors will tour the condos and have a chance to talk with a financial representative from Wells Fargo, who can discuss the financing programs available. The Grand Prize drawing for the $250 gift card will be held at 4 p.m., no purchase necessary.
Even more excitement is reserved for people who purchase a condo at Pebblewood Court, says Diane.
"We've got an incredible buffet of incentives," she explains. "Purchasers can choose one of the following: a one-year lease of a new Toyota Corolla; pre-paid association fees for one year; or free furnishings for their new condo!" The offer is good for a limted time only, and anyone interested in learning more can call or stop by the Pebblewood Court sales office.
"We've also got several options available to investors," says Diane.
Call 877-841-0977 for more information about Sunday's event or the special incentives.
Buying Chicago Real Estate
Rule Number One for potential buyers, according to Money Magazine:
"You can't time the bottom (of the market); you can pick a great home."
Frankly, we couldn't have said it better.
We know there are untold numbers of you wanting (and needing) to buy a condo, but the current market keeps you waiting, and waiting, and waiting...
It's understandable, but remember a couple key factors:
You won't know we've reached the bottom of the market until prices are on the rise again.
Cycles have always occured in the real estate market. Currently, it's the best buyer's market in many years. Choice is plentiful and prices have come down recently. It's undeniable that real estate ownership is the best path to building wealth over time. If you're interested in buying, the time is now.Â
More real estate rules for buyers and sellers by Money Magazine can be found conveniently compiled here on Yahoo.
Condominium Financing
It can be a tough world out there in mortgageland, with recent restrictions making it harder to get a loan for a condo or a house. Ironically, this comes at a time when demand is increasing again, as more and more people want to take advantage of the best buyer's market in 35 years.  Â
OwnACondo.com has access to a revolutionary new mortgage product that allows you to buy with many substantial benefits, including:
- no downpayment
- no closing costs
- no application fees
- no private mortgage insurance (PMI)
- no requirement for perfect credit
- a fixed (not adjustable) interest rate typically a point below prime
This program offers free, personalized and comprehensive counseling and can be a great fit for low- to moderate-income first-time condo homeowners, many of whom have neither perfect credit nor substantial savings.
For more information, please call OwnACondo.com, toll free, at 866-696-2266.
Condos and Billionaire Warren Buffet
In our blog entry of Friday, April 18, we included an interesting quote by Warren Buffet about the potential benefits of being contrary to the market. When others are selling, he has found it's a great strategy to buy. And it's not just because he's rich that he can do this. It's likely that this type of thinking is how he became successful.Â
Today Bill Dominick, one of our Condo Specialist Realtors, sent along an interesting e-mail containing a baker's dozen of additional, interesting quotes from Mr. Buffet, who clearly knows a thing or two when it comes to investing and building wealth through real estate. Â
We offer the following quotes strictly as food for thought. Warren Buffet is not offering investment advice to OwnACondo.com website readers, nor are we suggesting that anyone bet the farm on generalities posted here. Real estate investing, like swimming naked, is always done at your own risk. But that's the legal disclaimer we are obligated to provide. If you'd like more information about purchasing a condo for your residence or investment in this current market, be sure to contact us at 866-696-2266.
Enjoy!
13 QUOTES FROM WARREN BUFFETT (TRANSLATED)
1. “Only when the tide goes out do you discover who’s been swimming naked.â€
Translation: Keep plenty of tools (investing techniques) in your tool belt so that you can adapt to a changing market. What worked best in 2005 doesn’t work best in 2008. Today, we’re seeing first hand that those with only one investing strategy are taking a beating.Â
2. “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.â€Â
Translation: Today’s market fluctuations are your friend because they’ve scared off your competition … other investors. They’re also your friend because the fluctuations have caused there to be a flood of motivated sellers. And as any savvy investor knows, buying from motivated sellers is the only way to make it in this business.
3. “Our favorite holding period is forever.â€Â
Translation: To build true long-term wealth, you must buy and hold properties.
4. “Risk comes from not knowing what you’re doing.â€Â
Translation: Those who don’t know how to properly analyze, enter, and exit real estate transactions think today’s market is risky. Those who fully understand the intricacies of creative real estate investing continue to participate and profit.
5. “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.â€Â
Translation: Now’s the time to buy. In real estate and in life, it’s almost always best to act opposite to the crowd.
6. “Wide diversification is only required when investors do not understand what they are doing.â€Â
Translation: Naive real estate investors are putting their money into stocks, bonds, and savings accounts right now. Smart investors continue to invest in real estate, and they’re picking up more bargains than ever.Â
7. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.â€Â Translation: If you’re concerned that you cannot sell for full value, then buy lower – at about 60% of value – and sell lower –at about 90% of value.8. “We will reject interesting opportunities rather than over-leverage our balance sheet.â€Â
Â
Translation: Sometimes the best real estate deals are the ones you don’t make.
9. “It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.â€Â
Translation: If you’re going to hold a property long term, it’s far better to buy a wonderful house at a fair price than a dump at a bargain.Â
10. “A public-opinion poll is no substitute for thought.â€Â Translation: Most Americans think that now is a risky time to get into real estate investing. Do they know more than you? Most likely not. Only a handful of Americans know the specific techniques for profiting in today’s market. And that’s because they read blogs like this, they buy real estate investment courses, they attend their local investor meetings, etc. Most Americans get their “investing tips†from the daily media. There couldn’t be a worse source. Do you think journalists know how to wholesale houses, do short sales, take over a loan Subject 2, etc.? I think not. 11. “The most important quality for an investor is temperament, not intellect… You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.â€
Â
 Translation: Don’t worry what the masses are doing. Follow the advice of successful real estate investors, and use their techniques to profit in today’s market.
12. “You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.â€Â
Translation: Every deal must work on paper before it will ever work in real life.
13. “I really like my life. I’ve arranged my life so that I can do what I want.â€Â
Translation: Remember, that’s what real estate investing is all about. Arranging your life so that you can do what you want to do when you want to do it. Â
Condo Fair Housing
It's been 40 years since U.S. President Lyndon Johnson signed the Civil Rights Act of 1968, also known as the Fair Housing Act. What does this landmark legislation mean?
The 1968 act expanded on previous acts to prohibit discrimination concerning the sale, rental, and financing of housing based on race, religion, national origin and sex. It was amended in 1988 to include handicap and family status.
Housing discrimination had already been prohibited for more than 100 years previously, thanks to the Civil Rights Act of 1866, but ironically there were no federal enforcement provisions as part of that act. The enforcement "teeth" would not come about until the 1968 act was signed into law. In fact, some local states, municipalities and/or counties have expanded further on the federal act. Be sure to check locally for more information.
Realtors, including the condominium specialists at OwnACondo.com, abide by a Code of Ethics that requires "Equal professional service to all clients and customers irrespective of race, color, religion, sex, handicap, familial status or national origin." Read a summary of the REALTOR Code of Ethics here.
Here's the Fair Housing Act of 1968 in its entirety.
Condo Realtor!
It's the kind of day that turns grown men and women into quivering bowls of jelly.
The arrival of a brand new baby at OwnACondo.com headquarters meant that projects got temporarily put on hold as otherwise calm, cool and sophisticated office staff members suddenly found their inner child.
Infant Caylee Kathleen dropped by today with her mom, Brooke Krzyston, to say hello...well, as you can imagine, little Caylee didn't do much talking, but we sure had a good time cooing to her, making faces and getting the chance to hold her. Pictured with mother and daughter are Krystyna Kowalczyk (seated, left) and Vicki Donnowitz (seated, right) along with (standing, from left) Tim Litchford, Julie Wyatt and Joanna Buniak.
Brooke's little bundle of joy came into this world March 20, 2008, weighing 8 pounds, 2 ounces and measuring 21 inches long. Caylee is Brooke's first baby and mom was working almost right up until the time of delivery.
"While I was in the hospital, about six hours before she was born, I was still negotiating a deal for a house in Plainfield," says Brooke with a laugh. "My client thought I was a little bit crazy, but the closing should take place in about a week from now."
Helping celebrate Caylee's birth was Brooke's mother, who traveled from her home in North Carolina and stayed for three weeks. Brooke's grandmother and aunt live in the Chicago area and are frequent vistors.
"Caylee likes music and lights, and of course, she's learning mom's and dad's voices," says Brooke. With Brooke's passion for real estate, we can only wonder how soon it'll be until little Caylee starts thumbing through those weighty real estate training manuals.
