By Patty Boysen
I just returned back to work from my honeymoon and so much has changed since I have been gone! I drove in to work, put my flashers on and ran in to grab my parking pass that I had left at work for someone else to use while I was away. It was that moment that I decided to take a look around and see all of the new improvements that OwnACondo.com had made. I took a quick lap around our brand new office at 540 N. Lake Shore Drive to see that most of the boxes were unpacked, furniture was cleaned and pictures were hanging on the walls. I then hopped back in my car, parked it and entered back into work. Just as I sat down to start my day, my co-worker comes through the door. The questions that of course come out of my mouth right away was, “Hello, How are you?” and “What did I miss?”
After a short pause my co-worker says, “Oh, you didn’t hear what happened while you were away?” I said, “No, what?” He goes on further to say that I needed to get up right away and follow him to the conference room. Here I am thinking, oh maybe we got a new table or a new TV for the conference room or something.
As soon as I walk into the room, I immediately gasped! Yes, he explains someone drove into our conference room early Sunday morning. Needless to say there was glass everywhere, blinds broken, windows boarded up, and the bumper with the license plate on it. So my co-worker proceeds to say, nothing much really happened while you were away, just this small mishap!
So, just as OwnACondo.com gets the office spruced up and looking beautiful, a little surprise comes our way. This does not stop anything or anyone however, and work is resuming as usual. We are still recruiting and expanding all over the United States. Let’s just say, a car driving into our office doesn’t even stop us!
Moving is never easy and most of us hate to do it but for most of the moves we make we are not only moving our possessions but moving forward with our lives. Probably your first experience with moving was when you went to college. Remember how exciting it was to unload the car into your new apartment, meet your roommates and feel that excitement but also the uncertainty of being in a new place with new people. This most likely will be the first of many moves whether it is new job or just a move across town to a home more suited to your needs.
Moving into your first home or condo can be the most exciting move of your life. Moving your possessions is just a small part of making a move. The psychological aspect of moving can be both exciting and somewhat intimidating but it is an indication that you are moving forward with your life, career and maybe even family. We still look at owning our own home as one of the major goals of our lives giving us the satisfaction of a place we can call our own. That sense of satisfaction is what motivates many of us to move forward with life, family and career.
Moving can also mean moving your business as we have recently done. This also involves moving possessions but more importantly it is moving forward with your business life offering many more opportunities and relationships that can mean a step to a more rewarding and successful life.
Jesse Martinez has joined the OwnACondo.com team of dedicated Realtors®, many of whom have earned accredited buyer representative (ABR) designations .
Jesse, a licensed real estate broker, has more than 15 years of real estate experience, getting his start as an investor at age 21, when he bought his first multi-unit investment property in 1994. From 1998 to 2008, he owned several companies, including Barrister Mortgage Co., BMI Title and Jesel Properties, all in the Chicago area. He worked for Exit Elite Realty in Naperville from 2009-2010. As the owner of E-list Realty, which he opened in 2010, he purchased, rehabbed and sold more than 25 properties.
He has a wealth of experience handling the purchase and sale of properties valued at $500,000 and above. Jesse Martinez also is a licensed investment and insurance broker. In addition to high-end properties, the Naperville resident's real estate specialties include:
- Investors
- Condos
- Townhomes
- Single-family homes
- First-time home buyers
- DuPage County real estate
- Downtown Chicago real estate
- Kane County real estate
- Will County real estate
- Chicago-North real estate
- Chicago-South real estate
- North Cook County real estate
- South Cook County real estate
- Naperville real estate
- Kendall County real estate
- Lake County real estate
- McHenry County real estate
When he is not helping clients either sell or buy real estate, Jesse Martinez enjoys spending time with his wife and two young children. He likes sports such as biking, ice hockey, basketball, baseball and football, and is involved in the Big Brothers, Big Sisters organization, serving as the “big brother” for an 11-year-old boy.
“I have 15 years of real estate experience, as a Realtor® and broker, and as an investor myself. I am very familiar with the real estate market throughout the Chicago area, and I am eager to share my knowledge with my clients,” said Jesse Martinez.
Contact Jesse at jmartinez@ownacondo.com or (630) 418-0611 if you have questions or would like him to help find your dream condo.
Loretta Lomax has joined the growing team of dedicated Realtors® at OwnACondo.com, many of whom have earned accredited buyer representative (ABR) designations.
She brings to our company more than three years of experience in real estate sales, as well as a professional philosophy. In addition to being a Realtor, she is also a business owner and has a professional background in computer technology. The companies she has owned since 1997 include Lomax Enterprises and Lomax Real Estate Solutions.
Her specialties include:
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Townhomes
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Downtown Chicago real estate
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North Cook County real estate
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South Cook County real estate
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Will County real estate
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Lake County real estate
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DuPage County real estate
When she is not working on helping her buyers, Loretta Lomax has a wide range of interests, including running, tennis, sewing and cooking. She also donates her time to non-profit organizations such as Jobs for Youth and Urban Prep Academy. She also is assistant manager of the Chappel Condo Association and holds membership in several industry organizations. These include Association of Information Technology Professionals, and e-Marketing Association Network, as well as National Association of Realtors®, and Computing Technology Industry Association (CompTIA) Certified Professionals.
Her educational background includes a degree in Business Administration from Harold Washington College and certification in information technology and digital media from the Computer Systems Institute.
“Having bought and sold a personal residence, and lived in and assisted in the management of a condo complex, I feel I have an up-close and personal connection with consumers interested in buying real estate. Prompt, patient and professional is my philosophy,” Loretta Lomax said.
Contact Loretta at llomax@ownacondo.com if you have questions or would like help finding your dream home.
OwnACondo.com welcomes Sotiraq Vando to our growing team of dedicated Realtors®, many of whom have earned the accredited buyer representative (ABR) designation.
Sotiraq Vando, in addition to being a civil engineer, has more than five years experience as a Realtor® and is a licensed real estate broker. He has qualifications in accounting and as a loan originator also. His specialties include:
- Condos
- Foreclosures
- Single-family homes
- Investment real estate
- Financing condos
- Rental properties
- Downtwon Chicago real estate
- Chicago North real estate
- North Cook County real estate
“I like to work with people and because of that, real estate has always been an interest of mine. I like working with people and finding a way to help them get their condo financing, even in difficult situations.”
Fluent in Albanian in addition to English, Sotiraq Vando is married with two daughters. He earned a degree in civil engineering from the University of Tirana (Albania) in 1977, and has several other professional certifications also.
“I am always learning and adjusting in this changing industry,” Sotiraq said, adding that he enjoys all the customer-focused aspects of real estate, from helping buyers find just the right property for them to preparing presentations and contracts. He said he is very proficient in using the Multiple Listing Service, allowing clients to narrow their search and save time and money.
You can reach Sotiraq Vando at svando@ownacondo.com if you have any questions or would like him to help you find your dream condo, an investment property, or any other piece of real estate.
OwnACondo.com welcomes Denise Arnold, an experienced Realtor® and appraiser, to our team of dedicated professionals.
She brings a wealth of real estate experience to our staff, including 10 years as a certified appraiser and six years as a Realtor® with nationally known companies. Her specialties include:
• Appraisals
• Investors
• Foreclosures
• First-Time Home Buyers
• Condos
• Rental properties
In addition to her real estate qualifications, Denise Arnold also has a Bachelor of Arts degree in communications from Eastern Illinois University. She is a member of the Illinois Coalition of Appraisal Professionals, and said she uses her appraisal knowledge to benefit her clients.
“I am not going to let my clients overpay. If they want to, it won’t be because they were not informed,” she said. A resident of Chicago’s south suburbs, she is married and has one daughter and a stepdaughter.
“The best part of being a Realtor® is working with people, helping them find the right condo or house. I like meeting new people and I have an outgoing personality, which helps in this industry,” said Denise Arnold, who focuses on the real estate market in the Chicago Loop as well as the North Side, South Side, and suburban Cook County.
Denise can be reached at darnold@ownacondo.com if you have any questions or would her to help you find a condo or other property.
The prospect of winning the lottery is on a lot of people’s minds these days, especially as the Mega Millions jackpot continues to roll over. It was at $355 million just before the Jan. 4 drawing.
While “you have to be in it to win it,” the odds of winning Mega Millions, which is played in 41 states and Washington, D.C., are something like 175 million to 1. Not many of us can say we have won that sort of lottery, but if you think about it, finding a condo you like is something like winning the lottery too, with much better odds. You do have a better chance of finding your deam home.
And unlike the lottery, the odds of finding the right condo are actually improving across the United States, because there are so many available. This is due in part to the market being flooded with foreclosed condos following the downturn in the economy.
Most are quite affordable too, so winning the lottery is not a prerequisite to buying a condo either. In addition to the foreclosures, there are also quite a The foreclosed condos are not necessarily in bad shape, in fact, many can be in move-in condition.
The fact that interest rates continue to remain at historic lows is also helpful for people shopping around for a good mortgage rate. So instead of pinning all your hopes on winning the lottery, why not get out there and start condo shopping. Our condo specialists can help you narrow the odds of finding your dream home even more.
This is the second in a series of blogs regarding the purchase of real estate and is taken from the seller’s perspective. Real estate transactions are a complicated process and the need for a professional real estate agent is crucial to complete the transaction so all parties involved are satisfied with the outcome. Traditionally sellers are always represented by both real estate agents in a transaction. Obviously, the listing agent who has a signed legal document with all the responsibilities lined out represents the seller. What many buyers do not know is the agent who is finding and showing them properties is also legally responsible to the seller. But in the past several years a new type of representation has emerged with the buyer being exclusively represented by their agent. This type of representation is known as Buyer’s Agency.
From the seller’s perspective buyer's agency can eliminate any conflict of interest real estate agents may have when showing and negotiating for a buyer. The seller’s main focus is to sell their home or condo for the highest and best price which is the fiduciary responsibility of the listing agent. The main focus of a real estate agent acting as a buyer’s agent is to find and negotiate the sale for the buyer, representing their wants and wishes above all others. Sellers need to be careful about what they say, as well as their actions, when the buyer or their agent is present at showings. The seller needs to be aware that any information they may give the buyer’s agent can be conveyed to the buyer, which may or may not influence their price and terms when making an offer. Sellers also need to know that the buyer’s agent will most likely complete a Comparative Market Analysis (CMA) for the buyer which shows what similar properties have sold for in the area. The CMA is the basis for the buyer’s offer. This is where many times emotion enters the transaction and it is the job of both agents no matter who they represent to calm everyone down and present the facts to both parties. No one wants to complicate matters when as a buyer you may be making the most expensive investment you will ever make and as the seller you are trying to sell your home or condo and move on with your plans. From the seller’s perspective it is best to remember that as you are being represented, so is the buyer and both of you are trying to get the best deal possible.
Looking for downtown condos can be a daunting prospect in Chicago, because there are so many styles to choose from, in several different neighborhoods. But the good news is, OwnACondo.com has knowledgeable, experienced condo specialists who can help you find the right one—and looking is part of the fun.
While many cities have a specific downtown neighborhood, in Chicago, the area is not as clearly defined. It can encompass all or part of neighborhoods such as the Loop, South Loop, Streeterville, River North and the Gold Coast. While many of those areas are known for their luxury condos, don’t think that because they are not in your price range, there nothing for you. In addition to the many new luxury towers that arose during the building boom of recent years, downtown condos come in all shapes, sizes and price ranges in those areas.
Downtown condos are popular with people of all ages, because they offer something for everyone, whether amenities such as pools, fitness rooms and sky decks are on your wish list, or just a place close to work and play. Young professionals with jobs downtown like the idea of a short commute, as well as being close to all the great shopping and nightlife options in the lakefront neighborhoods. “Empty-nesters” who are downsizing are also are drawn to downtown condos, because they want to be close to all the downtown activities, and give up lawn maintenance—or even the need for a car.
Being close to Lake Michigan, with its beaches and marinas, as well as Grant Park and the many museums on the lakefront is another great selling point for downtown condos,
Besides the new luxury condos that have given neighborhoods such as the South Loop a whole new look, there are other vintage buildings such as Six North Michigan that have been turned into upscale condos. It is easy to forget that many of the most well-known condo high-rises—Lake Point Tower and Marina Tower just to name two, began as apartment buildings decades ago and were only converted to condos in recent years.
Loft condos have also become increasingly popular, and can be found in all the downtown neighborhoods. These include the classic lofts in revamped warehouses and other industrial property, as well as newer loft-style with the classic look and all the modern amenities.
So whether you are looking for downtown condos with views of Lake Michigan or the Chicago River, or close proximity to the Magnificent Mile, there is something for you. Even if you are not ready to buy yet, rental condos can be found in many buildings too.
While many people interested in buying condos take a break from their condo search during the holiday season, in part because of the winter weather, December is often a good time to get great deals from motivated sellers.
As the new year approaches, many sellers are very interested in finding buyers for their vacant properties, or renters as the case may be, before January rolls around. And qualified buyers can often find the home of their dreams at a discount, or with some sort of money-saving incentive. That benefits buyers and sellers, because everyone gets to enjoy a fresh start in January.
For instance, in addition to reducing the selling price of the condo, some condo owners, from the South Loop to the Gold Coast, and other attractive neighborhoods in Chicago and elsewhere, are now offering to give buyers a break on monthly assessments. Some are offering deals that would not require buyers to pay monthly assessments for the first three months of ownership, as long as the contract is signed before the end of the year. Imagine what a great holiday present that would be, worth several thousand dollars to a cash-strapped buyer.
In addition to those buying condos, in many cases people renting condos can also benefit by signing leases before the end of December. By doing so, they can often qualify for a reduction in rent for at least the first few months.
Many of these deals are not widely advertised, but working with one of our condo specialist Realtors ® at OwnACondo.com is a great way to find these sales. The condo specialist you are working with will know exactly what type of condo or townhouse you are looking for, in which towns or neighborhoods, and will be sure to negotiate with the seller to find the best deal possible for their clients.
Of course, many people with young families like to move during the summer so their children do not have to switch schools in the middle of the year. But to get the best deal, you wouldn’t have to move in this month, just sign the contract by then. So if you are ready to finance a condo now, don’t wait for the spring thaw because the sales might be over. When it comes to buying condos, December is as good a time as any to do it.
While everyone else is at the mall, you can get ready to ring in the new year on your own doorbell.
