Skip to main content


Showing posts from August, 2013

The City of Chicago's and Chicagoland Housing Market is Gaining Strength

Back in January of this year, a report from Standard and Poor's/Case-Shiller showed that Chicago and the Chicagoland Suburbs housing market was "lagging behind" other U.S. metropolitan cities as it related to the housing recovery.  And through my contact with other real estate and mortgage professionals outside of our area, I certainly agreed with that assessment at that time.  
     Although our Chicago and Chicagoland housing market did seem healthier to me at that point than it had previously, I didn't sense that I was seeing the number of interested Home Buyers or the rebound in sales and prices that professionals in other markets were reporting.  I remained hopeful that changes were coming.

And after what seemed like forever,  many of those changes have arrived.  Our local housing market is showing positive signs that indicate we're healing and moving in a better direction.

         The Illinois Association of REALTORS  has reported that during the month o…

Questions and Attention to Detail Make For Successful Chicagoland Mortgage Closings

Questions and Attention to Detail Make For  Successful Chicagoland Mortgage Closings

"It's the little details that are vital.   Little things make big things happen" ...  John Wooden

     I've been blessed with some very intelligent and highly-engaged Mortgage clients.  From our very first communication, these clients have been completely immersed in the details of their mortgage process and thoroughly educated about it.  

     They've questioned me about every step of their process too.  Why this?  Why that?  And it has been welcomed ...

     One client, after receiving his Appraisal Report, actually took the time to read the full Report in its entirety.  He asked me detailed questions about the terminology used within the Report, specifically terminology that pertained to his financing.  Every question he asked was well thought out.  I was blown away by it.

     Another Buyer wanted to know why I cared so much about the background and details of the Condominium Assoc…

What Helps a Chicagoland Appraisal and its Comparables Survive the Scrutiny of Underwriting?

Mention the words Appraisal and Underwriting together in the same sentence these days ... and you likely better stand back.  The reaction you receive could be fast and furious!

     In Mortgage Lending and Underwriting, nothing is taken
at face value.  Verification of everything is called for.  Re-checks and reviews are the norm.  And the Appraisal (the collateral for the Mortgage financing) is certainly a key component and focus of today's Underwriting.  

     Most Chicagoland Mortgage Lenders and Agents will tell you that they suffer a bit of anxiety regarding Appraisals currently.  That it's one thing to receive the Appraisal Report with a stated view of Value.  It's quite another thing for that Appraisal Report to stand-up to an Underwriter's review of the data and narrative contained within the Report.  

     Agent and Mortgage Lender both worry ... will the data contained on the Appraisal Report prove accurate and trustworthy?  Will the narratives and explanati…

2nd Installment of Will County (IL) Property Tax Payments Due September 3rd, 2013

The Second Installment of Will County Property Tax Payment is due on September 3rd, 2013.  

     Payments of your Second Installment Will County Property Taxes can be paid in a variety of ways:
Pay in Person at a Will County Bank or Credit Union.  A list of those banks and credit unions accepting Will County Property Tax Payments can be found:  HEREPay by Discover Credit Card.  The form to do that is HERE.  (A convenience fee applies for payments made by Discover Credit Card)Online at  A variety of methods, including other Credit Cards, are available for making payment.  eChecks and Debit Cards are also an accepted method for payment.  There is a fee involved for each online method of payment.  Those are as follows:

In person:  The Will County Treasurer's office located at 302 North Chicago St., Joliet, IL, has full-time cashiers available during tax payment time (May 1st to December 4th, 2013).  They accept Cash, Check, and Credit Card…

Tackling Millennial Student-Loan Debt: Getting on Track to Buy a Home in Chicagoland

Tackling Millennial Student-Loan Debt:   Getting on Track to 
Buy a Home in Chicagoland  

     Being the father of two Millennial-age sons, I can tell you from personal experience ... this age group is facing some serious financial issues.  

One such issueis student-loan debt ...

     It's much higher than my generation's was.  And student-loan debt is currently slowing, stalling, or keeping the younger generation out of the housing market.

     Luckily, one of my sons dodged this economic bullet.  College costs were limited and minimal because he received a college scholarship.  

     My other sondid much the same while attaining his Bachelor's Degree.  But he decided to pursue further education and attended law school.  In New York.  Ouch!  

     He's made steady headway on repayment of his student loans, but the debt still takes a toll.  And to this point, it has kept him from buying a home.  

Statistics prove he's not alone.  A report released by the Federal Reserve Ba…