Location, Location, Location
As the old saying goes, “location, location, location” is the most important consideration when valuing real estate. But with the price of gas continuing to go up, the location of the nearest train station or bus stop is of increasing importance for many commuters when they look for a new condo or house.
In other words, many buyers interested in saving on gas and traffic headaches are finding that homes within easy reach of a train station or bus route are more attractive to them than being close to highways or interstates. With gas at more than $4 a gallon, driving to work has just become too expensive for many people. The convenience of being able to walk to a train is a big plus for many
Of course, public transportation is not the only issue people looking for condos consider when thinking of “location, location, location.” Parents with school-age children are still interested in homes with good neighborhood schools and parks nearby, and depending on what your interests are, you might be most interested in finding a place near a health club, coffee shop, restaurant or your favorite bookstore or boutique.
If you are selling your condo or any other property, location, location, location is also important because location is taken into consideration when putting a value on a home. But no matter what your circumstances are, our condo specialist Realtors® can help you sort it all out, and find just what you are looking for.
Icelandic Volcanoes
By Dermot Connolly
The Icelandic volcanoes are back in the headlines again. Last year, it was Eyjafjallajokull and now comes Grimsvotn, which appears to be slightly more pronounceable for English-speakers (but I won’t chance it).
The way the ever-changing winds affect Grimsvotn’s traveling ash plume—and European air travel—is like the twists and turns of the economy affecting real estate sales and the market in general. Predicting how quickly things will improve in the real estate industry seems as difficult as figuring out where the ash will blow next. Hundreds of flights in Britain and Ireland were canceled due to the latest ash cloud—even President Barack Obama had to cut short his trip to Ireland due to fears that the ash would prevent Air Force One from taking off if he stayed overnight.
Grimsvotn is blasting roughly 100 times more material per second into the atmosphere than was released from Eyjafjallajokull last year, according to reports. But there are differences in the two Icelandic volcanoes. While the latest eruption caused the closure of Iceland’s main international airport, and as many as 500 flight cancellations in Europe, it is not expected to be as bad as last year because the ash is said to be heavier and thus falling to the ground more quickly. Experts hope that this means a quick return to normalcy. Likewise, the explosion of foreclosures across the United States caused a downturn in real estate prices, and as soon as that cloud clears, industry experts predict prices will rebound.
The eruption of Eyjafjallajokull in April 2010 forced air-traffic controllers to ground commercial aircraft for six days due to safety concerns, costing airlines millions of dollars in revenue, but the disruptions are not expected to be that costly this time around. So whether you are dealing with worries about Icelandic volcanoes affecting a trip to Europe, or looking for a condo, it is good to pay attention to the prevailing winds, but don’t necessarily cancel your plans because things could change for the better in an instant.
Rent-to-Own: Is It the Right Option for You?
By Jennifer Alcide
I recently had this discussion with a friend of mine. He asked me, “Why would anyone Rent-to-Own in the first place?” If you are at a place where you’d rather not be paying rent, but you don’t quite have the money for a home yet, then this alternative option may be fitting for you.
In general, Rent-to-Own is a good option if you desire your own home, but lack the ability to secure financing. However, this is not the best option for everyone. Rent-to-Own is a great way for you start on your journey of homeownership. You will enter into a lease giving you an option to purchase.
Benefits to the seller
“What benefits are there to the seller?” my friend asked. Rent-to-own is a great alternative for sellers who are having trouble selling, and need the monthly income to keep up with the mortgage. Subsequently, the selling price has already been established and is secure in the lease-option contract; therefore, knowing exactly what you will receive will eliminate any amount of worry if the market declines slightly during the lease period.
Benefits to the buyer
“So how does the buyer benefit?” If you are entering into a Rent-to-Own agreement, more likely than not, it is because of financial difficulties. If you don't currently have the down payment and/or the monthly income to qualify for a mortgage, but will within the next couple of years, a lease option allows you to speed up the process to homeownership rather than renting outright from a landlord. By signing a contract now, you will be securing a purchase price and you'll have no worries about home prices rising.
If you think you are not eligible to own your own home, you may want to consider the Rent-to-Own option; it may be a possibility for you! Get on the path to homeownership, and learn how to make your money work for you, not for your landlord!
Rent-to-Own applicants must qualify. Contact me today for more information via email at jalcide@ownacondo.com or call 847-414-5349.
The Perfect Marriage
By Patty Cunneen
Prince William and Kate Middleton seem to have the perfect marriage. They appeared happy and healthy as they wistfully tied the knot at their recent royal wedding in London.
The question is, what makes for a perfect marriage? Is it that two people are simply just “right” for each other? Or does it take a lot of hard work to form a perfect union? This question has been debated for many years and I don’t think there is a perfect answer. I believe that if you strive for the perfect marriage or perfect union, and that is what you set your mind on finding, then you will in fact find the perfect mate. What you put out in the universe, is what you get back in return.
At OwnACondo.com, we simply do not hire just any Realtor®. We try to find the agents who make for a perfect union here. This way, it makes our jobs easier and the company more successful. At OwnACondo.com, we only hire top producers, or agents who strive to be top producers. We encourage agents to join our office to work hard and close sales. We have, essentially, the perfect marriage.
Our state-of-the-art office on Lake Shore Drive is 6,500 square feet of space. We moved into an office this large to ensure that agents have enough space to make their phone calls, do their follow-ups and conduct meetings.
We have the perfect “marriage” here at OwnACondo.com, because we simply strive for excellence! We strive to be the best place to buy and sell condos, and forming the perfect marriage with our condo-specialist agents is key to achieving our motto.
Spring Cleaning
The arrival of spring leads many people to think of renewal, rebirth, reorganization and of course, spring cleaning. This spring, however, was marked by news that few will ever forget: the surprise announcement on May 1 that Osama bin Laden was finally hunted down and killed in Pakistan. This event has swept economic worries off the front page, at least for a few days, as Americans reflected, and indeed celebrated, the death of the man behind the 9/11 terrorist attacks.
But while the announcement of Bin Ladin’s demise caused an initial drop in oil prices on stock markets worldwide, gas prices at the pumps are still higher than ever, and it remains unclear how his demise might affect the United States in a whole range of ways the long run. Aside from the economic factor, we can expect heightened alerts to prevent retaliatory terrorism. In the meantime, those of us who are not directly involved in the crisis, we can take our minds off the matter by returning to our own spring cleaning, an annual tradition for many people whether or not they are planning on buying or selling a condo or other residence.
Spring cleaning is also a good time to recommit to some green living in your home, if you are so inclined. You might be surprised how simple, inexpensive and even healthy it can be. Green living can include everything from recycling and reusing household items, to walking whenever possible instead of using your car.
If you do have plans to move within the next year, spring cleaning can be a good time for you to assess your need for home repairs, or just begin to pare down your possessions to prepare for condo staging. That way, you can show your property in the best light to prospective buyers, and not have to pack so much “stuff” when you do move.
