Traveling via the Internet
Parents worry that their teens are spending too much online, rather than going outside “like we used to when we were kids,” but the World Wide Web is well-named, because a lot of traveling via the Internet can be done—moreson than on a bike.
The Internet also expands your horizons when buying condos and conducting other real estate-related activities. All aspects of business have been greatly enhanced by the Internet, and it is economical too. Using the Internet to view properties, obtain documents and even buy properties at auction, saves lots of time and money.
Business meetings are now customarily held using programs like Skype and GoToMeeting, so you can sit in your office or at home instead of an airport or on a plane in order to fly halfway around the world for a short face-to-face.
I have been doing a lot of traveling via the Internet myself, not necessarily for work, but through Internet forums, I have ended up meeting people from Ann Arbor, Mich., to the Netherlands who I originally just knew by a nickname online. You can very easily search for condos from the comfort of a couch or coffee shop instead of driving around in your car.
So whether you looking for foreclosed condos or $4 million mansions, with the Internet, you can do all your business with people in far-flung corners of the world.
Of course, for safety reasons, parents have to be vigilant when monitoring younger children’s traveling via the Internet. But the Web can truly be a window to the world, whether for teens playing World of Warcraft to entrepreneurs negotiating deals on Wicker Park condos.
OwnACondo.com finds a Discovery
Discovery, the world's most traveled spaceship, went into orbit for the final time Thursday, heading toward the International Space Station on a journey that marks the beginning of the end of the shuttle era. This is quite a similar journey for OwnACondo.com, which is marking the end of its long-time residence in Oak Brook, Illinois as brand new offices are being prepared at 540 N. Lake Shore Drive in Chicago.
This "discovery" of a new home and appears to be a perfect fit at the perfect time. It is a buyers’ market, plain and simple, so we need to captialize on that and work to help these buyers find the perfect deal. There are deals everywhere but it may be challenging for consumers to find them, so it is a good idea to have a real estate agent assist you with your search, especially if you are interested in short sales and foreclosures. Real estate agents can assist you with auctions which contain foreclosures and bank owned properties.
RealEstateAuctions.com is a great place to purchase or sell bank owned properties for auction. The specialists there can assist you with any questions that you have about the auction process. Auctions are becoming very prominent in this market, because there are a lot of bank owned properties that need to be sold. If you are in a position to purchase property, now is the time. The agents at OwnACondo.com can assist you with traditional real estate buying and selling, and the agents at RealEstateAuctions.com can assist you with purchasing and/or selling at auctions. It looks as though this disovery is worth looking into!
John Feminis
John Feminis is the newest addition to the growing team of Realtors® at OwnACondo.com, bringing with him a wealth of customer service, sales and appraisal knowledge and experience.
“Real estate is a fascinating business, and I really enjoy meeting people and helping them find their dream home or investment property,” said John. Before recently earning his real estate sales license, the Park Forest resident had been an associate appraiser for Blue Edge Inc. in Joliet for about five years. Prior to that, he worked for many years in customer service and retail sales. For the past year, he was a field technician for Air Serv Inc., an aviation company. But he found his calling in real estate.
“I just really enjoy the real estate industry,” said John Feminis, whose specialties include:
• Buyers' agent
• South Cook County real estate
• Chicago South real estate
• Downtown Chicago real estate
• Condos
• Multi-family buildings
• Du Page County real estate
• First-time homebuyers
• Appraisals
• Investors
• Real estate auctions
• Foreclosures
• Short sales
“I particularly enjoy working with buyers because I can focus on helping my clients find their dream home or ideal investment property, and negotiate the best deal possible. My experience and knowledge gained as an appraiser is very helpful to my clients too. Real estate is a fascinating business, and the best part of the job is meeting and working with people,” he said.
When he is not helping his clients find a condo or other property, John Feminis, who describes himself as a major sports fan, follows his favorite teams, which include the Chicago Bears, Blackhawks and White Sox. He may be reached at jfeminis@ownacondo.com or at 708-359-9496.
Tracenda Stenhouse
Tracenda Stenhouse has joined the growing team of Realtors® at OwnACondo.com.
Traycee, as she is known, brings four years of real estate experience to her new position, in addition to 14 years of sales and customer service experience.
“I like the hustle and bustle of the real estate business, of taking people out to find just the right property, and then negotiating to get the best deal possible. As I tell my clients, "I listen to what you want, and then I find it. It is out there.”
The Frankfort resident, who enjoys spending time at home with her four-month-old daughter when she is not working, studied business at the University of Illinois at Urbana-Champaign, as well as Illinois State University and DePaul University.
“I have been a real estate agent for four years, and have a total of 14 years of experience in customer service and sales. Before finding real estate, I worked for several companies as a salesperson and as a customer service manager,” said Traycee. Prior to coming to OwnACondo.com, she worked for Richmond Partners GMAC, Zip Realty and Century 21 Pro-Team.
“I like how OwnACondo.com is dedicated to its clients and its employees. Being an exclusive buyers’ agency is something else that drew me here,” Traycee added.
Tracenda Stenhouse’s real estate specialties include:
- Condos
- First-time homebuyers
- Short sales
- REOs
- Foreclosures
- Chicago South
- Chicago North
- Downtown Chicago real estate
- South Cook County
- Frankfort real estate
- DuPage County real estate
- Will County real estate
- Downtown Chicago real estate
In addition to spending time with her newborn daughter, Traycee's many interests include traveling, shopping and helping with the homeless outreach program at her church.
If you would have questions or would like Tracenda Stenhouse to help you find your dream home or investment property, contact her at Tstenhouse@ownacondo.com or at (708) 601-2304.
Chicago’s Blizzard 2011 Has Passed, But a Spring Storm is Already on Its Way
By Noel Christopher
If you thought Chicago's blizzard of 2011 was bad, wait until you see the storm that is coming this spring. The OREO storm that is. OREO, or Other Real Estate Owned, is the term that banks use for the distressed properties they have on their books. RealEstateAuctions.com is poised to service banks and institutions nationwide through our innovative auction platform offering boots on the ground in all our auction markets.
We keep hearing about the “shadow inventory” in the real estate market, right? Well, a recently released Standard & Poor’s study shows that in Chicago there is a 54-month and growing inventory of distressed properties. Many of these properties are in the shadow inventory of bank properties that are waiting for one reason or another to be put out into the market. Lately there has been a hold on foreclosures due to the Robo Signing controversy, which has added to this shadow inventory. Also adding to this inventory are all of the previously foreclosed properties that were held back from the banks to make sure they filed the right paperwork. You can see why we are drawing comparisons with Chicago's blizzard of 2011.
Although the last four months in the distressed real estate market has been a little slow here in Chicago, that is all about to change. Industry sources tell me that banks are opening up the flood gates in the second quarter of 2011. So while we just had the great Chicago Blizzard of 2011, we are about to see a deluge of REO properties hit the market, much like the snow that recently buried us all. This is more than the market can absorb through the traditional Multiple Listing Service model.
RealEstateAuctions.com is the perfect solution to fill the need of banks by supplying an accelerated marketing option through auctions. A well-marketed auction puts the most eyes on a property with qualified buyers in the room, thus getting a great price for the bank and a good opportunity for a savvy buyer pick up a great deal.
Shadow Inventory–A New Name for an Old Problem in Real Estate
By Dean Delisle
It’s no secret that there is plenty of foreclosures, Bank REOs and troubled real estate. Now we have a new term coined by Standard and Poors called “Shadow Inventory.” The true definition as stated in the article is: Shadow inventory is defined as distressed properties in which borrowers are 90 days or more delinquent on mortgage payments and where properties have recently fallen into foreclosure or are real estate owned (REO).
So it seems like the distressed properties that are actually in their transition stage. As a business guy who launches brands, products, services and companies, this breeds true opportunity in this marketplace. As you notice the launch of companies like BankREOs.com and others, you will see that real estate as we know it will never be the same. Does that mean we will have call center-based agents in Bangladesh or that auctions will increase or that ALL real estate will be purchased online from anywhere in the world? It will be interesting the watch the movement of this massive wave which has only just begun!
Foreclosed Condos
As the number of foreclosures steadily increases, so do the opportunities to take advantage of the slumping housing market and to take the leap from renting to owning. Foreclosed condos are affordable investments that can provide you with the potential for return in your future. Now is the perfect time to purchase your own property instead of throwing all of your money away paying monthly rent.
If you have been stuck in the viscous cycle of renting for a number of years now is the time to break the cycle. Monthly rents are on the rise in order to accommodate a number of rising costs. Energy prices are steadily increasing and so are property taxes as cash strapped cities and villages that are running out of other options. With monthly rents on the rise, how much longer will you be able to afford the cost of living?
Instead of throwing your money away every month you could be applying your monthly payments towards your own property. The money that you spend every month will be recouped when you sell your property. Instead of merely paying a price to live somewhere, you will be investing in property that you will be able to sell for a profit in the future. If you purchase a foreclosed property that is selling below market value and you hang on to the condo for a couple of years until the real estate market improves, you will see a significant increase in value.
Foreclosed condos are selling well below market value. Banks are requiring low down payments in order to get rid of the properties. There are many incentives currently available for buyers. You may find that the monthly payments on foreclosed condos may be even cheaper than the monthly rent payments that you were making. There are also a number of tax incentives that are being offered to first time buyers and anyone that purchases a personal residence.
With the high number of these condos available you can even be selective in which unit that you choose. Many complexes have several condo units that are being foreclosed on and you will be able to find a condo that has the number of baths and bedrooms that you would like. Many of the condos are new construction or have recently been remodeled. It is a complete fallacy that foreclosed condos are in a state of disrepair or are old and dilapidated.
