Rochelle Grossley
OwnACondo.com welcomes Rochelle Grossley to our growing team of experienced, condo-specialist Realtors®.
After being a Chicago mortgage broker for many years, overseeing an office with 20 loan officers and two loan processors, Rochelle earned her real estate license in 2008, and worked for Coldwell Banker before joining OwnACondo.com. From a customer’s perspective, her experience and skills are very valuable assets to have access to. The Evanston native has lived in Chicago neighborhoods such as Wrigleyville, and worked in Hyde Park. She now lives in Naperville, so she is very familiar with the real estate market throughout Chicago and the suburbs.
“I decided to get my real estate license because I love working with people, and seeing their eyes light up when they find that right house is. That is what I most enjoy about real estate, helping people. I can share my knowledge about mortgages also, and the importance of being pre-qualified for a loan.”
Rochelle Grossley’s specialties include:
- Condos
- First-time homebuyers
- Single-family homes
- Townhouses
- DuPage County real estate
- Will County real estate
- Downtown Chicago real estate
- Chicago North real estate
- Chicago South real estate
- Mortgage lending
- Real estate auctions
- Foreclosures
- REOs
- Open houses
“I was attracted to OwnACondo.com due to the company’s prime location at 540 N. Lake Shore Drive, and the plans for expansion into other cities. I want to be part of the growth,” said Rochelle, who also is a transportation operator for FirstGroup America. When she is not showing houses or assisting clients in other ways, Rochelle Grossley enjoys spending time with her two children, NeCole, 8, and Nicholas, 6. Her hobbies include cooking, sewing, skating, bowling, and writing poetry.
Contact Rochelle Grossley at rgrossley@ownacondo.com or (630) 386-6856 for help buying or selling condos and other real estate.
Housing Market: Prices Down While Gas Prices Climb
Unlike the housing market, gas prices have risen sharply over the last few weeks and it looks like they are going to continue to rise in the future. According to Atlantagasprices.com, local gas prices have risen by almost thirty cents in the past month and by a dollar in the past year. Atlanta’s gas prices are cheaper than the national average, but have risen at the same rate. Chicago's gas prices, on the other hand, are now the highest in the nation. According to a forecast by the U.S. Energy Information Administration, gasoline prices could rise above four dollars per gallon nationwide this summer. In many markets, including Chicago, priceas are already well above the four dollar mark.
Although gas prices have risen, it appears that the prices of housing are still declining. It doesn’t appear that the market is going to turn around anytime soon. So I suppose, instead of looking at the negatives and complaining about gas prices, see the positive that housing prices are still low. A positive, you ask? It can indeed be a positive for people who want to purchase. Combined with historically low mortgage interest rates, the prices of condos, townhouses and single family homes right now make it easier for first-time homebuyers to own real estate.
For all those who are in the housing market and looking to purchase a home, just keep two things in mind. Make sure that you work close to your home. If not, try to use public transportation, and remember to budget for the transportation costs. Calculate how much you spend on gas or public transportation and add that into your monthly bills. This way you are well-prepared for the cost and can plan ahead for the worst case scenarios.
Take advantage of the housing market and purchase as inexpensively as possible and also remember to budget for increased transportation costs these days and everything will balance just right. Go to OwnACondo.com to search for housing housing in your affordability reange and find your dream home.
Effects on Credit Scores
Many people know that things like bankruptcy and foreclosure can cause heavy damage to a credit score, but a recent FICO-led study found that seemingly small things can have detrimental effects on credit scores also.
Lenders use credit scores to measure how well a person handles debt, and decide interest rates on loans—or even whether to issue a loan. The scores range from 300 to 850, with 650 and below considered poor credit. A good credit score is important not just for financing home purchases, but employers increasingly check credit as well as landlords when seeking rentals. Also, poor credit scores can also mean higher costs on car loans and credit cards.
For this study conducted in March, 2011, FICO, the most prominent public company providing credit-scoring services, and VantageScore, a new credit-scoring model, looked at three circumstances experienced by three types of mortgage holders — a borrower with a great credit score (780), a borrower with good credit (720), and a poor credit borrower.
A mortgage, the biggest loan most people will ever get, often is the most important part of a person’s credit profile. Among other things, the study as reported on Realtor.org found that just one missed mortgage payment can hurt credit scores significantly. For instance, a 780 credit score borrower saw her credit score fall to 670-690; a 720 credit score borrower’s fell to 630-650; and a 680 credit score borrower falls to 600-620.
Conversely, loan modifications, when lenders approve new loan terms, have a “very, very minimal” impact to credit scores, possibly dropping the borrower’s score by 10 or 15 points, according to FICO officials. The effects on credit scores caused by short sales and foreclosures also were looked at.
In the case of short sale, deed in lieu of foreclosure, or settlement, assuming the balance has been wiped out: The 780 credit score borrower falls to 655-675; the 720 credit score falls to 605-625; and the 680 credit score drops to 610-630.
In the case of foreclosure, or short sale with a deficiency balance owed: The 780 credit score drops to 620-640; the 720 credit score falls to 570-590; and the 680 credit score decreases to 575-595.
These effects on credit scores can be repaired, but in the meantime, they can be costly, so it is wise to monitor your credit score.
Alexandria Pope
Another great real estate professional has joined the OwnACondo.com team: Broker associate Alexandria Pope.
Alexandria is a condo-specialist Realtor® with OwnACondo.com and she serves buyers and sellers with knowledge and care that can’t be matched by a real estate generalist. Her enthusiasm, experience and specific training in the condo market and lifestyle means that she can provide highly focused information and services that consumers demand and deserve.
From the beginning of her real estate career in 2003, Alexandria has been devoted to upholding the industry standard of C.O.A.L.D. for her clients: Care, Obedience, Accountability, Loyalty and Disclosure. And while there probably isn't a real estate agent out there who wouldn't claim the same, with Alexandria it's different. A new acquaintance can sense her energy and passion for real estate and for her clients within the first minute or two of beginning a conversation.
Alexandria Pope's journey into a real estate career started when she decided she needed to educate herself, her family, her friends and even her community at large about several things real estate-related, including first time homeownership.
"I knew a lot of renters who should have been home owners, but they didn't have the tools" she recalls. "I also found that a lot of people simply didn't trust real estate agents. I wanted to stand up for what a true Realtor® should stand for."
Alexandria's specialties include:
- Chicago Real Estate
- Condos
- Townhomes
- First-time homebuyers
- Real estate investing
- Real estate investors
- Real estate auctions
- Leasing
- Rentals
- Foreclosures
- REO
- Short sales
- Condo financing
- Downtown Chicago real estate
- Chicago North real estate
- Chicago South real estate
Alexandria earned a master's degree in inner city studies from Northeastern Illinois University and a bachelor's degree in African American studies from Chicago State University. She's the proud mother of a three-year-old daughter and a 19-year-old son. Her son currently attends college in Arkansas, where he is studying business.
When not busy with her real estate clients, Alexandria enjoys poetry, youth mentoring and community activism. She also assists graduate-level university students with preparation for their master's thesis.
Contact Alexandria Pope via email at apope@ownacondo.com or via her a call at 773-407-4018.
Chicago Real Estate Market
Chicago real estate professionals are hoping that Mayor Rahm Emanuel, who is scheduled to take office on Monday, May 16, following Richard M. Daley’s 22-year reign, will move quickly to reinvigorate the Chicago real estate market in whatever ways he can.
Emanuel has already ruled out raising property taxes to address the city’s major budget problems, which is good news for cash-strapped homeowners and anyone planning to buy a condo or other house.
Emanuel has also ruled out raising property taxes to address the city’s major budget problems, which is good news for cash-strapped homeowners and may encouraged wary homebuyers.
Emanuel noted during the campaign that local “real estate values have lost 30-40 percent during the recession–much more in low to moderate income communities.”
According to city estimates, there are approximately 19,000 vacant buildings and 10,000 to 15,000 vacant lots in Chicago. The crisis is evident looking at the high number of boarded- up homes in many neighborhoods. Emanuel has asserted that in neighborhoods hardest hit by the recession, there are severe barriers to private investment, and said city leadership and action are essential. He promised to “make sure Chicago utilizes every tool possible—like land donations, demolition liens, and non-cash bids on delinquent taxes—to make sure investments are targeted and comprehensive, to give communities the greatest chance to redevelop and succeed.” He wants to develop and implement plans for re-use of all buildings and vacant lots in targeted areas. This includes rehab and new construction, adjacent land donations, parking improvements, community gardens and urban agriculture.
During the campaign, he stressed the importance of a diverse housing market in helping Chicago remain a world-class city, and hopefully the Chicago real estate market will rebound and the sale of condos and other homes will rebound again.
In an interview with the website Hispanically Speaking News, Emanuel also pledged his support for rules mandating that new housing developments in Chicago set aside a portion of their units as affordable, to make home ownership possible for more people. In a further effort to strengthen the Chicago real estate market, he also plans to expand the Neighborhood Stabilization Program, allowing the city to acquire and fix up more vacant and foreclosed homes.
Nicholas Clancy
Nicholas Clancy has joined the growing team of condo specialist Realtors® at OwnACondo.com, and is eager to share his wealth of real estate knowledge gathered over several years in the mortgage industry.
“I bring seven years of experience as a mortgage broker and banker to my real estate career. As a lifelong resident of Chicago, I am very familiar with local condos and the housing market in general in the city and its many neighborhoods and suburbs,” said Nicholas, a diligent worker who specializes in assisting buyers.
“With the wide range of properties available for sale now, it is certainly a buyer's market. I know how important buying a home is, because for most people it will be the most expensive purchase they will ever make,” Nicholas noted.
A graduate of De La Salle High School, Nicholas Clancy studied at Harold Washington College before heading into the business world. Most recently, he was president and CEO of Real Deal Properties and Investments, a company based in Bridgeport, where he lives in the shadow of U.S. Cellular Field. the home of the Chicago White Sox.
He is very familiar with the city’s many neighborhoods and suburbs. His other specialties include:
• Condos
• Townhomes
• Multi-family buildings
• Commercial property
• Downtown Chicago real estate
• Cook County real estate
• Real estate investing
• Real estate auctions
• Leasing
• Rentals
• Foreclosures
• REO
• Short sales
• Condo financing
“An important part of the buying process is getting pre-qualified for a loan, and I am very good at helping clients with that. I will help my clients every step of the way, from the loan process to the closing. In addition to buying, I also help clients interested in leasing too, whether it is a condo, house, or four-flat. I handle commercial property too,” Nicholas added.
When he is not in the office setting appointments, or showing property to his clients, Nicholas enjoys spending time relaxing with his family and friends, and watching the White Sox and his other favorite teams.
If you would like Nicholas Clancy to help you buy or sell property, you may contact him at nclancy@ownacondo.com or by calling 312-217-3237.
Jennifer Alcide
Jennifer Alcide has joined the growing team of condo specialist Realtors® and broker associates at OwnACondo.com, bringing financial knowledge, and a caring and perfectionist attitude—all qualities that are very beneficial to her clients.
“I have always been interested in real estate, and I feel this is where I need to be. My educational background and skills in accounting and finance are beneficial in my real estate career,” said Jennifer, who earned a degree in accounting at the University of Illinois at Chicago in 2008 before getting her real estate broker’s license. She has been working for several years in the finance department of STATS, a Northbrook-based international sports statistics and information company.
Throughout her career, she has upheld the same strong work ethic. “I strive for perfection in everything I do. If I don’t have the answer, I will find it for you. I enjoy helping my clients get the best deal possible in this challenging market.”
A resident of Chicago's Albany Park neighborhood, her specialties include:
• Condos
• Single-family homes
• Townhomes
• First-time homebuyers
• South Cook County real estate
• Downtown Chicago real estate
• North Cook County real estate
• Suburban Chicago real estate
• Real estate investors
• Real estate auctions
• REO
• Short sales
• Condo financing
• Foreclosures
In her free time, Jennifer Alcide relaxes with water sports, such as swimming, snorkeling and boating. She also plays basketball and other sports too, and is very involved in her church. Travel is another passion. She spent many summers visiting relatives in Haiti, and most recently has gone snorkeling in Jamaica.
If you would like Jennifer to help you buy or sell property, she may be reached at jalcide@ownacondo.com or at (847) 414-5349.
Lizzette Jimenez
Lizzette Jimenez--condo owner, real estate investor and first-time homebuyer specialist-- joins the growing team at OwnACondo.com.
Fluent in English and Spanish, Lizzette’s story of how she chose OwnACondo.com is a good one, and one we’ve heard before.
“I had a great experience with one of the OwnACondo.com agents,” says Lizzette, who purchased two investment condos at a complex exclusively represented by OwnACondo.com. The service she received was obviously well-remembered.
Lizzette has 10 years of experience as a licensed real estate sales associate and is encouraged by signs the market is again warming up. She says that she decided to pursue a career in real estate because the experience she had purchasing her first condo at age 21 wasn’t particularly easy.
“I felt completely lost in the process when I was a first-time home buyer,” Lizzette explains. “I decided I had to go out and educate myself.” This led to her decision to become a real estate agent and now Lizzette loves sharing her knowledge and experience with people who are in the same position as she once found herself.
“Working with first-time buyers is so much more rewarding,” she says. “There’s so much more help I can provide.”
Lizzette Jimenez's specialties include:
- Suburban Chicago Real Estate
- DuPage County real estate
- Condos
- Townhomes
- Real Estate Investing
- Real Estate Investors
- Real Estate Auctions
- Leasing
- Rentals
- Foreclosures
- REO
- Short Sales
- Condo Financing
Lizzette moved up from that first condo she purchased at age 21 to a spacious townhome where she now lives with her husband and young daughter. Lizzette enjoys yoga, fitness, international traveling and she’s also an avid reader; although with the demands of a two-year-old child, she admits with a laugh “I’m lucky I can even fit in my industry-related reading these days!”
Lizzette currently serves on her townhome association board of directors. She knows first-time home buying, condos, townhomes and real estate investing—in short, she’s a perfect addition to the team at OwnACondo.com, the best place to buy and sell condos! Contact Lizzette Jimenez, an English- and Spanish-speaking real estate agent, at: ljimenez@ownacondo.com
