First Time Home Buyer Tax Credit Extended!

First Time Homebuyer Tax Credit Extended Into 2010! Plus…A New Tax Credit for Certain Existing Home Owners! It’s official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time. So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn. Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible. Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked Questions Here are answers to some commonly asked questions about the tax credit. What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual’s primary residence. What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000. Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible. As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500. How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf). Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place. Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property. Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due. You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild. You do not use the home as your principal residence. You sell your home before the end of the year. You are a nonresident alien. You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.) Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.) You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009. Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed. Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes. Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA. So, get on out there today and start shopping.  There is some great inventory, and many great deals waiting to be purchased. Contact us today to discuss this awesome opportunity further.  kjpremier@atproperties.com

Good News for FHA Condo Buyers!

New FHA Condo Approval Process Will Mean More Options For Chicago Condo Buyers 1st July 2009 With an upcoming change, FHA will be able to finance a lot more condominiums here in the Chicago area and throughout the nation. A recent FHA mortgagee letter detailed the new process that will streamline condo project approval and will open up a lot of properties which up until now have not been eligible for FHA financing.

Over the last 2 years condo financing has become increasingly harder with tightening guidelines, restrictive mortgage insurance policies and loan level price adjustments which made condo financing much more expensive for anyone without a big down payment. Over the last 10 years almost all the condos in Chicago were financed with conventional loans and as more and more condo units came on the market through new construction or conversions from rental units, few of these properties applied for FHA project approval. The bright spot for many lower down payment condo buyers was the FHA spot loan. The FHA spot loan approval process allowed home buyers a way to buy units in condo buildings that weren’t FHA approved with the better terms that FHA offered (including competitive rates and a low 3.5% down payment), as long as the building met certain guidelines. This has been a great program, and it has helped a lot of new buyers, but there were a lot of otherwise well managed properties which have been excluded from this program.

With the new changes, set to take place on October 1st, some of the problems in the program will be fixed and more condo units will now be available for FHA financing. The FHA spot approval was a great program, but there were some glitches: Any property which had a “right of first refusal” in its Decs and By-laws was automatically rejected. Because of rules regulating how many units in a project could be FHA funded, the condo project had to have at least 5 units. This meant that all the smaller condo units, including a lot of 2 and 3 unit buildings which were converted over to condos during the housing boom, were not eligible for spot loans. The project had to be 90% sold out, meaning only well established properties were eligible, and more recent conversions or new construction condo would not be able to be approved. The spot loan was for a single unit only. If someone else bought in the same building after a spot loan had been approved, they had to go through the same process again. The new FHA condo approval process changes each of these, meaning more properties will fit the terms and be able to qualify for FHA financing. As of October 1st FHA will do away with the spot approval process and begin the new process. Under the new terms, properties won’t be restricted if they have the first right of refusal in their condo docs as long as they don’t discriminate, buildings with 2 units and up will be eligible, newer properties will work once they are 51% sold. The approval is not for the individual unit but the project itself, so once approved other units will then be eligible for FHA financing up to maximum concentrations (1 FHA financed unit in buildings of 3 units or less, and up to 30% FHA financed in larger buildings). One big change in the guidelines is that going forward the approvals will be handled by only FHA direct endorsement lenders (my company is FHA direct endorsed) with “staff knowledge and expertise in reviewing and approving condominium projects”. This means that the lender will be responsible for collecting all the documentation needed and putting together the full project approval. This means more paperwork and responsibility for the lender (though this is similar to what is needed for many conventional approvals now), but once the approval is complete the project will be added to the FHA approval list and then any FHA lender or broker will be able to do loans in the building. The company I work for is gearing up for this program by hiring a condo specialist who will work with our underwriters and processors to get these approvals out as quickly and smoothly as possible. I think this will be a big help to the market and will give buyers a lot more selection to choose from. Here are some of the particulars of the new process taken directly from the mortgagee letter:

The new rules go into effect on October 1st 2009:

Projects consist of two units or more.

Projects must be covered by hazard and liability insurance and, when applicable, flood insurance.

Right of first refusal is permitted unless it violates discriminatory conduct under the Fair Housing Act regulation in 24 CFR 100.

No more than 25 percent of the property’s total floor area in a project can be used for commercial purposes.

The commercial portion of the project must be of a nature that is homogenous with residential use, which is free of adverse conditions to the occupants of the individual condominium units.

No more than 10 percent of the units may be owned by one investor. This will apply to developers/builders that subsequently rent vacant and unsold units.

For two and three unit condominium projects, no single entity may own more than one unit within the project; all units, common elements, and facilities within the project must be 100 percent complete; and only one unit can be conveyed to non-owner occupants.

No more than 15 percent of the total units can be in arrears (more than 30 days past due) of their condominium association fee payment.

At least 50 percent of the total units must be sold prior to endorsement of any mortgage on a unit. Valid presales include an executed sales agreement and evidence that a lender is willing to make the loan.

[1] At least 50 percent of the units of a project must be owner-occupied or sold to owners who intend to occupy the units.

[2] For proposed, under construction or projects still in their initial marketing phase, FHA will allow a minimum owner occupancy amount equal to 50 percent of the number of presold units (the minimum presales requirement of 50 percent still applies). Legal Phasing is permitted for condominium processing. It is recommended that developers submit all known phases for initial project approval. For purposes of calculating the owner-occupancy percentage: a. On multi-phased projects the owner-occupancy percentage is calculated on the first declared phase and cumulatively on subsequent phases if the ownership of the condominium project b. remains the same; c. If multi-phasing includes separate ownership per phase, each phase is calculated individually; or d. Single-phase condominium project approval requests must meet the owner-occupancy percentage requirement.

· FHA Concentration a. Projects consisting of three or less units will have no more than one unit encumbered with FHA insurance. b. Projects consisting of four or more units will have no more than 30 percent of the total units encumbered with FHA insurance.

· Reserve Study – a current reserve study must be performed to assure that adequate funds are available for the funding of capital expenditures and maintenance. A current reserve study must be no more than 12 months old – if recent events or market conditions have affected the finished condition of the property that information must be included. When reviewing the reserve study, consideration must be given to items that have been replaced after the time that the reserve study was completed.

Information courtesy of:
Peter Thompson

Illinois Mortgage Broker

 

For more information about this our how to get started finding your dream home, contact us today at kjpremier@atproperties.com.

 

Life Lessons Always Come When You Never Suspect Them!

 

Today I am not blogging about Real Estate or a great recipe, I am blogging about the life lesson that I experienced this morning…. 

 I am in a mentoring group through @properties that meets weekly with the intention of  helping you expand your own personal real estate business through a collaborative group of peers.  Ironically, I was asked to give a short lesson on how to blog to the group today as our fearless leader was going to be out of town.  I arrived 10 min. early with my laptop in one hand  and a small plat of baked goodies to share with everyone in the other hand.  I figured that at least if my presentation was just ok everyone could enjoy something good to eat!   I set up , I waited , I waited, and I waited some more, and no one showed up.  It was me and the plate of blueberry coffee cake in the conference room.  At first I will be honest I was pissed as it takes me an hour to get to work in the city.   But, than I took a deep breath, ate a piece of really good blueberry coffee cake, and I thought this is such a good life lesson for myself.  I realized how it does not matter what you do in life or who you are, you must be accountable to yourself and the people around you.  I’m not mad at the fact that no one showed up  and will not for one second act holier than thou and lead you to believe as if I have never wasted someones time in the past, or not fully fulfilled my obligations to a group, or  just was not considerate of others.  All I can say is from this experience I will be more accountable and considerate to myself and to others from now on.  I too know that this is not new information.  Its is just we all know what to do and how to do it, we just don’t always do it!

If I was asked what this difficult economic time has taught me I would say it has made me a more conscious and grateful person.  We all need to look into ourselves and when things go wrong find something to change about ourselves.  Don’t always look to others to change.  I am a better mother, wife, real estate agent and all around person because of what I have experienced in these past two years.

During my short lesson today about blogging I was going tell my fellow group members to play to their strengths and try to reveal something about yourself to your readers.  These are two tips that have helped me become a more consistent blogger with a purpose.  This is why I love blogging…it is interactive and I can be me.

A teacher, teaches lessons first and then takes the exam.  Life takes the exam first, and then teaches a lesson.  Keep Learning! 

                                                                       -Anonymous

Do you have a C.L.U.E!

Lead- paint, mold, and asbestos raise red flags to agents and their buyers but, do you know what a CLUE Report is?

CLUE — an acronym for Comprehensive Loss Underwriting Exchange — is a national insurance industry database with more than 40 million personal property claims. A CLUE report is the equivalent of a credit report for a house, which examines all claims reported to the insurance company for a given property over a five-year period, including water damage, fires, and mold. Reports show the date of loss, type of loss, and amounts paid out.

You can order a report online through ChoiceTrust,a unit of Alpharetta, Ga.-based data provider ChoicePoint Asset Co.  Under the Fair and Accurate Credit Transactions Act of 2003, property owners can order one free report every year. 

The Clue report can be used to warn buyers of a home’s potential pit falls but, it can also be a wonderful selling point if the CLUE report is clean.   Let KJ Premier help you get a CLUE when it comes to buying or selling your home.  Contact us at kjpremier@atproperties.com

 

 

 

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.

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.

Street Fest Time in Chicago Is Almost Upon Us!

Venetian Night

Here’s a quick list of some of the city’s most popular street festivals for 2009!  Some are free and some require a “donation!”  Hope to see you on Street this summer!

MAY 

15-17: Chicago Mayfest  

23-Sept. 27: Randolph Street Market Festival

24: Bike the Drive  

27-30: Chicago Turkish Festival

28-31: Free! Mayfest in Lincoln Square

30-31: Belmont-Sheffield Music Festival

30-31: Do-Division Street Fest and Sidewalk Sale 

JUNE 

5-6: Free! 57th Street Art Fair

5-6: Community Art Fair

5-7: The Raven: Experience the Magic of Ravenswood

6-7: Free! Chicago Gospel Music Festival

6-7: Free! Chicago Tribune Printers Row Lit Fest

6-7: New! Metronome Celebration

11-Aug. 23: Free! Chicago SummerDance Festival   

12-14: Free! Chicago Blues Festival    |

12-Aug. 30: Free! Movies in the Parks

12-14: Party at St. Mike’s

12-14: Ribfest Chicago

13-14: Andersonville Midsommarfest  

13-14: Old Town Art Fair

13-14: Wells Street Art Festival   

14: Q101 Block Party

15-21: Free! Fiesta Puertorriquenas

19-21: Free! Chicago Peace Fest

19-21: Close Up 2 Smooth Jazz Festival

19-21: Festa Pasta Vino

19-21: Taste of Greece on LaSalle Street Festival

19-21: Taste of Randolph Street

20: Free! Puerto Rican Day Parade

20-21: BAM! Belmont Arts and Music Fest

20-21: Chicago Summerfest   

24-27: Free! Chicago Arabesque

26-28: Chicago Soul Music Festival

26-July 5: Free! Taste of Chicago   

27: Chicago Pride Fest

28: Free! Pride Parade

JULY 

3-5: African-Caribbean International Festival of Life   

9: Bastille Day 5K Run, Walk and Block Party

10-12: Irish American Heritage Festival

10-11: Jeff Fest

10-11: Old St. Pat’s World’s Largest Block Party  

10-12: Free! Chicago Tribune Magnificent Mile Art Festival

11: Free! ‘I Have a Vision’ Community Gospel Festival

11-12: Chicago Folk and Roots Festival

11-12: Rock Around the Block  

11-12: St. Andrew’s Greek Festival

11-12: West Fest 2009

12-14: Ribfest Chicago

14-Aug. 25: Free! Outdoor Film Festival in Grant Park

17-19: Pitchfork Music Festival  

18-19: Sheffield Garden Walk and Festival

19: Free! Chinatown Summer Fair

25: Free! Dragon Boat Race for Literacy

25: Free! Venetian Night

25-26: Taste of Lincoln Avenue  

25-26: Wicker Park Fest

Retro On Roscoe

26: Free! An Arts Adventure

30-Aug. 2: Fiesta del Sol

31: Aug. 2: Gold Coast Art Fair

 

AUGUST

1-2: Northalsted Market Days   

1-2: Retro on Roscoe   

2: Free! Belize Day in the Park

7-9: Ginza Holiday

7-9: Lollapalooza   

8: Free! Bud Billiken Parade and Picnic

8-9: Free! Korean Street Festival

8-9: New! Lincoln Park Arts and Music Festival

8-9: Wrigleyville SummerFest

14-15: Free! Armenian Fest

14-16: Free! Edison Park Fest

14-16: North Side Summerfest

14-16: New! Chicago Ribs ‘n’ Soul Festival

15: Free! Croatian Fest

15-16: Free! Chicago Air & Water Show   

15-16: Free! Chicago Carifete

15-16: New! Green Music Fest

21-23: 60th Annual Greek Festival

21-23: Free! Glenwood Avenue Arts Fest

22-23: Lake View Music Fest

29-30: Free! Bucktown Arts Fest

29-30: Free! Taste of Greece 2009

29-30: Free! !Viva! Chicago Latin Music Festival

SEPTEMBER 

4-6: Free! Chicago Jazz Festival

4-7: African Festival of the Arts

4-7: Taste of Polonia

5-6: Bash on Wabash

11-13: Free! 89th Annual German-American Festival

12-13: Free! Celtic Fest Chicago

12-13: Groovin’ on the Grove Festival

12-13: Free! Renegade Craft Fair   

13: Free! 26th Street Mexican Independence Day Parade

13-14: Wells Street Crush, Music and Comedy Fest

RIBFEST!

19: Guinness Oyster Fest    19: Musky Fest

25-27: Oktoberfest  

 

For more information about Chicagoland and the amazing things our city has to offer, please contact us today at kjpremier@atproperties.com.

 

Stretch your dollar on the Web with these 10 frequent shopper programs

Times are tough for everyone but, let me tell you worrying does not help!  If I had to find one good thing about this recession is it has made my family extremely thrifty and we waste a whole lot less of everything!  I hope these frequent shopper programs help stretch your dollar.  ShopSmart, from the publisher of Consumer Reports, shares 10 frequent-shopper programs in its May 2009 issue that can save you money: AMC Theatres – AMC MovieWatcher  Perks: Earn two points for every movie ticket you buy; redeem 10 points for a small popcorn or 30 points for a free movie ticket.  How To Sign Up: Go to www.moviewatcher.com. BORDERS – Borders Rewards Perks: For every $150 you spend, you get $5 toward another purchase within a month; you also get special discounts and offers. How To Sign Up: Sign up in the store or at www.borders.com. CVS Pharmacy – ExtraCare  Perks: 2% rebate on every in-store and online purchase; $1 “Extra Buck” for every two prescriptions filled; discounts on items featured in weekly circulars. How To Sign Up: Go to www.cvs.com or ask for an application in any CVS store. Office Depot – Worklife Rewards  Perks: 10% back on ink, toner, paper, design, print, and shipping services; 1% back on all other items; rebate is redeemable for future purchases.  How To Sign Up: Ask at Office Depot or go to www.myworkliferewards.com. PETCO – PALS (Petco Animal Lovers Save)  Perks: One free bag of food for every 10 bags of natural or premium food you buy within a 12-month period; one free grooming, bath, or wash for every eight you buy within a 12-month period. How To Sign Up: Sign up at your local store. PetSmart – PetPerks  Perks: Coupons; monthly exclusive online offers; discounts on some in-store items. How To Sign Up: Go to www.petsmart.com. Regal Cinemas – Regal Crown Club Perks: Get one point for every dollar spent on tickets and extra credit for concessions; redeem 50 points for a small popcorn or 150 points for one free admission. How To Sign Up: Ask at the theater or go to www.regmovies.com. Staples – Staples Rewards  Perks: 10% back on ink, toner, paper, and copy and print services; rebate is redeemable for future purchases. How To Sign Up: Ask at Staples or go to www.staples.com. Toys “R” Us – Rewards “R” Us Perks: $5 gift certificate for every $150 spent during select promotional periods, plus discounts on diapers and other items. How To Sign Up: Go to www.toysrus.com. Walgreens – EasySaver   Perks: Rebates on featured items; you must save receipts and submit them by mail or online. How To Sign Up: Go to www.walgreens.com.

Forbes Report of Most Liveable Cities

Does your city make the list?  Cities were determined based on the following criteria:

To form our list, we looked at quality of life measures in the nation’s largest continental U.S. metropolitan statistical areas–geographic entities defined by the U.S. Office of Management and Budget for use by federal agencies in collecting, tabulating and publishing federal statistics. We eliminated areas with populations smaller than 500,000 and assigned points to the remaining metro regions across five data sets: five-year income growth per household and cost of living from Moody’s Economy.com; crime data and leisure index from Sperling’s Best Places; and annual unemployment statistics from the Bureau of Labor Statistics.

15. Lounge with the Clinton’s–Little Rock, Arkansas.

14.  Peabody, Massachusettes

13.  There’s more than just cheese in–Madison, Wisconsin

Madison, WI

12.  Harrisburg-Pennsylvania

11.  If you’re in to the outdoors, then you’ll want to check out–Denver, Colorado

10.  Pittsburgh, Pennsylvania

9.  Just a short drive from Bean Town–Worchester, Massachusettes

8.  Baltimore, Maryland

7.  Where the intellects abound-Cambridge, Massachusettes

6.  Oklahoma City, Oklahoma

Cambridge, MA

5.  Tulsa, Oklahoma

4.  On the water’s edge–Stamford, Connecticut

3.  Des Moines, Iowa–Go Hawkeyes!

2.   Bethesda, Maryland

1.  Laid back living in–Portland, Maine

Several points considered in this were the cities’ cultural draw, affordability of living, income growth, low crime stats, and low unemployment rates.  To read more about these cities, feel free to check out the full story here.

To find out more on the cities near you that you should be investing in, contact us today at kjpremier@atproperties.com.