Make your yard an oasis

 Economic uncertainty has many families skipping expensive vacations and opting for so-called “staycations” in their own backyards. They’re cooking, camping and enjoying outdoor activities right at home, making their lawns the perfect spot for an oasis of fun and relaxation.

Because people are spending more time around their homes, there is a renewed emphasis on the health, maintenance and vitality of grass, trees, flowers, shrubs and other plants and natural areas in the yard. Rising sales at garden centers for items like shrubbery, decorative accessories, fertilizers and pesticides show that consumers are creating inviting, usable lawn and landscape environments.

The benefits of healthy lawns and landscapes are numerous. Trees, shrubbery and plants can create a private and tranquil personal retreat. Well-maintained green spaces have been proven to lower blood pressure, reduce muscle tension related to stress, and reduce feelings of fear, anger and aggression. Lush lawns act as a soft cushion for play areas, remove dust, dirt and allergens from the air, and can significantly decrease carbon dioxide levels. Lawns also act as a filter to help improve water quality by reducing erosion and absorbing runoff so it doesn’t find its way into the gutter and eventually into public drinking water and other sources.

‘When healthy and functioning at their best, lawns and natural areas provide a limitless array of benefits for individuals, communities and the environment,’ says Allen James, president of RISE (Responsible Industry for a Sound Environment) — a national organization representing the manufacturers, formulators and distributors of pesticide and fertilizer products. ‘To reach their full potential and keep them free from harmful pests, many lawns and landscapes require the judicious and responsible use of fertilizer and pesticide products. Especially as people are spending more time in their yards, using these products as directed to grow healthy plants and protect against potential pest threats is increasingly important.’

While this is the time of year when people can enjoy their lawns and other outdoor settings with pets, family and friends, it is also important to remember that encounters with certain common pests are more frequent during warmer weather. Tick activity and the prevalence of Lyme disease, as reported by the Centers for Disease Control and Prevention (CDC), is especially high during summer months. According to information from the CDC Web site, approximately 75 percent of all reported cases are acquired from ticks picked up during activities in back yards and around home. Lyme disease is an increasingly common problem, now documented in 49 states as well as parts of Canada, Europe and Asia, and the number of positive cases here in the United States is on the rise. In the 15 year span from 1992 to 2007, CDC reports of Lyme disease across the nation have steadily increased from approximately 10,000 cases per year to more than 27,000 cases nationally.

Though Lyme disease and similar pest-related health risks are a problem, paying attention and taking a few simple, preventative steps can help homeowners and their families reduce the risk of these pest dangers that affect millions of Americans each year.

‘Human health conditions like Lyme disease, West Nile virus and others are spread and transmitted through the bites of ticks, mosquitoes and other pests we encounter in our backyards almost every day,’ James says. ‘Taking the time to eliminate high grass, standing water and other potential pest habitats is a very simple, very effective measure for reducing the prevalence of these unwelcome and unhealthy annoyances.

‘Also, insecticide sprays can be applied to turf, plantings and natural areas,’ he adds. ‘As for personal protection, applying insect repellents and inspecting ourselves and our children regularly and thoroughly after having been outside are some simple precautions that go a long way toward preventing many of these common, but serious health risks.’

By taking the proper precautions and a few easy steps to maintain a healthy, vibrant and pest-free yard, it is easy to create an enjoyable, usable backyard oasis for outdoor fun all year long.

Any questions regarding your house and making it a home, or to prepare it to put on the market, please contact us today- kjpremier@atproperties.com.

Experts Predict that Low Mortgage Rates Won’t Last Forever!

We’ve been hearing about historic low mortgage rates for months now, but they could be going away if buyers don’t act quickly enough. CBS 2’s Vince Gerasole explains why some analysts say those sitting on the fence may want to hurry.

Those low rates have encouraged many buyers who were hesitating to jump into the housing market, especially first time buyers. But just as more are deciding they might take the plunge, rates are heading back up. Market watchers say if buyers wait too much longer, it may cost them.

At 25, Alex Filin is buying his first place and he’s hunting down the perfect condo.

“It’s a little headache, but the adrenaline rush, the excitement is getting me going,” Filin said.

An $8,000 tax credit for first time buyers, sellers lowering their asking prices and historically low interest rates are pushing people like Filin into the mark in numbers real estate agent Paul Fortman with @properties hasn’t seen in two years.

“Just within the last four weeks I have accepted seven contracts, and I have five closings in the month of June,” Fortman said.

But buyers like Filin who have decided to jump into the market may want to act fast. Mortgage interest rates in the past week have jumped at least half a percentage point, from an almost unheard of low of 4.75 percent to a still impressive 5.25 percent. But critics caution they may not drop again.

Analysts blame rising government debts from the bailout of the auto industry, for example, that push up all sorts of long term loans including mortgages that have looked so appealing in recent months.

Keep in mind with first time home buyers every dollar in mortgage payment can make a difference in whether they can afford the house or not. For example, for a house selling for roughly $250,000, with 20 percent down, the difference between last week’s interest rate and this week’s is roughly $60 more each month in mortgage payment.

Don’t wait for your opportunity to own a home to pass you by….email us at kjpremier@atproperties.com today to find your dream home in either the suburbs or the city.

Top 10 Summer Travel Hotspots

10 Top Summer Hotspots

Travelocity’s most recent summer travel data reveals some domestic destinations have increased in popularity despite many travelers reducing their vacation budgets. In Travelocity’s most recent poll, one-third of respondents reported a reduced summer vacation budget as compared to last year. These summer hotspots will benefit from an increase in popularity, despite a troubled economy.

 

In an analysis of the top 25 destinations for summer travel, Travelocity editors identified the 10 domestic summer hotspots with the largest share increases when compared to 2008. What makes them so popular now? These destinations have some of the steepest drops in airfare in the country and vacation deals are plentiful.

 

With hotel rates down in most places–in some cases as much as 30 percent–travelers will have no trouble finding deals in these destinations for their summer vacations. Airfare also continues to drop with an average domestic summer fare of $299, 17% less than last year.

 

“With travelers expected to take more domestic trips this summer these cities and their tourism businesses will benefit from a surge in popularity,” said Amy Ziff, Travelocity editor-at-large.

 

Top 10 Summer Hotspots Include:

 

Destination		Share Increase
Minneapolis / St. Paul		13%
Salt Lake City		13%
San Francisco		12%
Las Vegas		11%
Seattle		11%
Chicago		10%
Washington, D.C.		10%
Portland (OR)		9%
San Diego		8%
Boston		7%

 

Where are these destinations luring visitors away from? Some of the country’s closest neighbors have lost visitor share this summer: Canada (down 8%), Mexico (down 19%) and the Caribbean (down 21%).

Be sure to check out some of the local real estate while travelling this summer.  If you need a referral to see some local real estate while you are in a great place, give us a call and we can help, or a member of our extended team may be able to help!

Get out and enjoy your summer and be sure to contact us for all your real estate needs  kjpremier@atproperties.com.

 

HUD: Tax Credit Can Be Used on Closing Costs

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year–and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes, at REALTOR.org.

Source: Robert Freedman, REALTOR® Magazine Online

First-Time Homebuyer Credit: Scenarios

Many of our loyal readers have had questions about the first-time homebuyer credit.  Here are some scenarios that might help clear up your questions.                                                                            

Scenarios:

S1. If a single person (Taxpayer A) qualifies as a first-time homebuyer at the time he/she purchases a home with someone (Taxpayer B) that is not a first-time homebuyer and then later that year they marry each other, is the credit still allowed?

A. Eligibility for the first-time homebuyer credit is determined on the date of purchase. If Taxpayer A, a first-time homebuyer, buys a house and then later that year marries Taxpayer B, not a first-time homebuyer, the credit is allowable to Taxpayer A. Taxpayer A may take the maximum credit.

S2. Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?

A. Yes. Taxpayer B is not a first-time homebuyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A’s primary residence.

S3. A taxpayer owned her principal residence. Several years ago, she decided to relocate to a rented apartment, but did not sell the former residence. Instead, she rented it out to tenants. Now the taxpayer plans to buy another house and make it her new principal residence. Does she qualify for the first-time homebuyer credit?

A. A taxpayer who owned rental property within the past three years is still eligible for the credit. The taxpayer cannot have owned and used a home as his or her principal residence within the last three years.

S4. If husband and wife wanted to sell the home that the wife owned when they got married, and the husband had not owned a home within the past three years, could he qualify as a first-time homebuyer for the credit even though the wife would not qualify?

A. No. The purchase date determines whether a taxpayer is a first-time homebuyer. Since the wife had ownership interest in a principal residence within the prior three years, neither taxpayer may take the first-time homebuyer credit. Section 36(c)(1) of the Internal Revenue Code requires that the taxpayer and the taxpayer’s spouse not have an ownership interest in a principal residence within the prior three years from the date of purchase. The husband may not take the credit even if he filed on a separate return.

S5. Taxpayer purchased a home on April 24, 2008, while she was separated from her husband. Later in the year, they reconciled and were living together at the end of 2008. She has not owned a home since 2004 but he owned sold his home in 2006. They remained married the entire time. Is the taxpayer eligible for the first-time homebuyer credit?

A. No. The purchase date determines whether a taxpayer is a first-time homebuyer. Since the husband had ownership interest in a principal residence within the prior three years, and the taxpayers were legally married, neither taxpayer may take the first-time homebuyer credit. Section 36(c)(1) requires that the taxpayer and the taxpayer’s spouse not have an ownership interest in a principal residence within the prior three years from the date of purchase. While individuals do not have to be married to get the credit, marriage (and legal separation) imputes ownership of a previous home upon the other spouse. The wife may not take the credit even if she filed on a separate return.

S6. have been estranged from my spouse for over three years and file married filing separate. I don’t know if my spouse has owned a main home in the last three years, but I have not. If I buy a house in 2009 that otherwise qualifies for the first-time homebuyer credit, can I claim the credit?

A. Section 36(c)(1) requires that the taxpayer and the taxpayer’s spouse not have an ownership interest in a principal residence within the three years prior to the date of purchase. While individuals do not have to be married to get the credit, marriage (and legal separation) imputes ownership of a previous home upon the other spouse. If your spouse has not owned a main home in the last three years, then you may claim the credit.

S7. I am separated from my spouse and considered unmarried, and qualify for the unmarried head of household filing status. My spouse has owned a main home in the last three years, but I have not. If I buy a home on May 1, 2009, that otherwise qualifies, can I claim the first-time homebuyer credit?

A. No. Section 36(c)(1) requires that the taxpayer and the taxpayer’s spouse not have an ownership interest in a principal residence within the three years prior to the date of purchase. While individuals do not have to be married to get the credit, marriage (and legal separation) imputes ownership of a previous home upon the other spouse. The taxpayer may not take the credit even if filed on a separate return.

S8. A qualifying taxpayer bought a home in August 2008 that needed a lot of work before occupying. They finished the renovations and moved in the home in January 2009. Can they claim the $8,000, since they did not occupy the home until 2009?

A. No. Taxpayers who purchase an existing home and renovate the property before moving in are eligible for the first-time homebuyer credit based on the date of purchase, not the date of occupancy.

For more info go to:
http://www.irs.gov/newsroom/article/0,,id=206294,00.html
or contact us at kjpremier@atproperties.com.

New Fingerprinting Law in Cook Co. in effect as of June 1, 2009

In an attempt to fight mortgage fraud, all purchasers of real property in Cook county will now be required to give a fingerprint, to be kept on file to complete the transaction.

Public Act 095-0988 amends the Illinois Notary Public Act by describing the manner in which a notary must sign each certificate at the time of notarization.The law requires that a paper or electronic form must be completed and retained, for a period of seven years, for each notarial act relating to real property in Cook County.

As part of the process, the new law will require the notary to have the individual to whom the property is being conveyed, as well as an agent acting on behalf of a principal under a duly executed power of attorney, to place his/her thumbprint on the transaction documents.

This is a currently a pilot program, and the new law is set to be in act July 1, 2013.  If you have questions about the Real Estate process or need assistance with buying or selling in this ever changing market.  Please contact us today at kjpremier@atproperties.com.

Upward Movement in the Chicagoland Housing Market

Kelly and I have never been so excited to have to clean our cars out to make room for clients.  We are happy to report that we have seen a nice swirl of activity in both the city and the western suburbs.  Clients are not only out looking but, they are snatching up the great deals that are out there.  From our experience the good foreclosures are selling in days and many times they are selling for more than the list price because of multiple bid situations.  This is a sign that the bottom of the market is stirring and this in turn will cause an upward ripple effect in the housing market.

 

The Chicago Tribune reported that March sales of previously owned single-family homes and condominiums in Illinois posted their second consecutive month-over-month gain, and for the first time since June, the statewide median price for a home rose from the prior month.  Suburban counties seeing among the largest month-over-month sales increases wee Lake County (65%), Kendall County (51%), and Cook County (38%).

 

 These recent statistics and our own experiences in this current market give us confidence that the housing market is headed in the right direction.  Don’t wait until the prices rise to buy your dream home or next investment.  Contact KJ Premier today at kjpremier@atproperties.com.

Neighborhoods at a Glance: Pilsen

It won’t take you long to feel the decidedly Latino beat of the South side neighborhood of Pilsen.  Catch a glimpse of some of the area’s famous murals near 19th and Ashland, or 18th and Wood.  Find silver and stone jewelry, beaded keepsakes, and other local art at shops like Oxala (1653 W. 18th St., 312-850-1655).  Also stop in the National Museum of Mexican Art, which highlights Mexico’s rich culture from ancient times to the present and from around the globe to down the street.  Then dine at the authentic,  Nuevo Leon at 1515 W. 18th St.  It’s a family-run BYO since1962 and it’s sure to delight!  Or a quick bite at the no-frills at Tacqueria Los Comales at 1544 W. 18th.  Need a snack?  Be sure to grab some Mexican candies or chili-spiked lollipops from Dulceria Lupitas (1730 W. 18th St.).  Lastly along the hopping 18th street strip, be sure to check out Knee Deep Vintage for some stylish duds and killer boots (1425 W. 18th St.)!

For more information about the Pilsen neighborhood, or other areas of Chicagoland, please feel free to contact us at kjpremier@atproperties.com.  Or, if you are looking at home values, be sure to check the @report for detailed up to date information about your favorite neighborhood.

Looking for a Spring or Summer getaway!?

 Be sure to check out our cottage located on the inner banks of North Carolina!  Touted as the sailing capital of the world, the fishing, crabbing, and relaxing are second to none!  Dates are filling up fast, so be sure to contact our Rental Manager Trish May (her info is below!) to book your stay today.  I’m also available for any questions you may have or how to buy and own a second home getaway of your own!

Kjpremier@atproperties.com

 

Cribbs Cove – Spring Vacation on the North Carolina Coast

Spring is in the air!!   Now is the best time to visit and enjoy a relaxing stay on the North Carolina coast.  Bring your friends and family to a waterfront retreat for a trip full of outdoors activities, relaxing family time, and laughs with friends.   www.cribbscove7.com

Spring Fishing  It has been a long cold winter and great spring fishing is just around the corner.  Here’s what is happening now and what to come over the next few weeks. Shad are in the Neuse and they are already being caught.  This great ultra- light fish can break the winter doldrums with its great fight and hot action.  Stripers and catfish can also be found in the same areas of the river in the Vanceboro area. A nice mixed bag of stripers, specks, flounder, redfish and a variety of fresh water fish are in the New Bern area and the fishing should be good again once we shake off this cold front. The ocean near Emerald Isle is full of top of the slot redfish.  This is a very weather dependent fishery but if everything is right the action can be unbelievable.  The fish are schooled in the thousands!   For the best guide around, we recommend: Capt. Gary Dubiel Spec Fever Guide Service Fishing New Bern, Oriental and the Crystal Coast. www.specfever.com 252-249-1520   Have fun! “Sailing Capital of North Carolina”     When you stay at Cribbs Cove #7, you will be minutes away from Oriental, North Carolina, where sailboats outnumber residents three to one!  Sailing happens all year around, but is especially fantastic in the spring and summer, when the conditions are perfect! <!– –>

You and your family desire a vacation and getaway to the beautiful coast of North Carolina!  Consider Cribbs Cove #7 for your next vacation plans – you will be happy you did! Cheers!   Trish May Rental Manager email: trishmay@mac.com phone: 252-422-1999 www.cribbscove7.com

Websites to check out: www.cribbscove7.com www.visitoriental.com www.towndock.net

Neighborhood Look: Roscoe Village

As our tribute to the summer, and all that there is to do in and around Chicago, we will kick the season off right  by introducing one of my most favorite neighborhoods in all of Chicagoland.  Roscoe Village is nestled among Lakeview to the East, Bucktown to the South, and North Center/Lincoln Sq. to the North, and the Chicago River to the West.  With two bustling stretches of commercial life located along Belmont and Roscoe streets, the neighborhood has everything to offer.  From Breakfast at Orange on Roscoe which offers “frushi”–fruit sushi, and the delicious “green eggs and Ham,” to the catching the game at the Roscoe Village Tap, for any beer on tap you can imagine, to a casual yet trendy dinner at Volo, an intimate wine and small plate stop, this neighborhood has everything.  Catch a softball game at Hamlin Park, or take the kiddies for romp in the park at the new and improved Fellger Park at Belmont and Damen, or stroll down Damen with your Starbucks and hit the candy shop and new children’s boutique Twinkle, Twinkle.

Over the last 10 years, plenty of new retail as added to the convenience of the ‘hood as well as the growth of residential development.  With only a few larger condo buildings to speak of (one being the Pencil Factory Lofts at 1800 W. Roscoe), the neighborhood offers mostly single family homes, and 2-4 unit walk up buildings, thus giving way to tree lined streets with yards and gardens, making it an inviting community to so many.  If you are curious about the home values here, be sure to check out the @report and search Roscoe Village to see what your home is worth or if you’d like to live here!

And while you’re out and about, be sure to check in on one of Roscoe Village’s fun and fabulous street festivals, like Retro on Roscoe.  For more information about Roscoe Village or other Chicagoland neighborhoods, please contact us today at kjpremier@atproperties.com.