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Archive for October, 2009
Saturday, October 31st, 2009
OwnACondo.com is hiring Illinois and Florida real estate agents for their Oak Brook, Chicago and Miami offices. OwnACondo.com focuses primarily on representing buyers and sellers interested in condominiums, but have a real estate auction division that sells all types of real estate.
When a bank solicits OwnACondo.com to sell their REO condo portfolio at auction, OwnACondo.com uses their real estate agents to service the listings. The OwnACondo.com Realtor has to get all information on the listing coordinated with the employee staff to get ready for the auction. The listing agent needs to conduct at least three open houses and handle all the leads associated with the condo or townhouse listing. During the real estate auction the agent is expected to be present and help with the contracts and hosting of the event. After the auction, the real estate agent is expected to follow up with the financing process up until the day of closing.
OwnACondo.com is hiring real estate agents to service all the listings coming in from banks and developers. Developers are also turning to the OwnACondo.com auction to finish out their developments and close outs. There are too many listings versus real estate agents currently. OwnACondo.com will be hiring 25-50 agents over the next three months to handle to volume of listings.
If you are a licensed real estate agent and looking for a career opportunity with OwnACondo.com, you can email Brian at BK@ownacondo.com or call directly at 877.627.5543. OwnACondo.com is in need of full and part-time real estate agents, seasoned veterans or rookies.
OwnACondo.com is well known for providing hundreds of leads to its realtors and its World class training programs. OwnACondo.com markets its brand with billboards, search engine optimization, taxi cabs, newspapers and dozens of other lead generation sources. This produces hundreds of buys and sellers a day flocking to the OwnACondo.com website. Once a lead registers with OwnACondo.com, it then gets transferred to a real estate agent that handles the area the client wants to be serviced in. Our real estate agents service all areas of Chicago. If you as an agent want to service one area or all areas of Chicago metro, that’s solely up to you. We just want to make sure you service the lead professionally.
OwnACondo.com will also have classes starting in February to get licensed if you’re currently not a real estate agent. If you’re interested in these classes, call 877.627.543 as well.
Tags: chicago jobs, hiring real estate agents, illinois real estate jobs, real estate agents
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Friday, October 30th, 2009
Time is almost up for first-time homebuyers to take advantage of an incredible benefit, but OwnACondo.com’s Nov. 8 Auction can beat the $8,000 Tax Credit deadline.
“With a drop-deadline of Nov. 30, there’s really only once chance left to purchase—and close , which is part of the requirement—and that’s by attending the Chicago Real Estate Auction this coming Sunday,” says Brian Kuzdas, owner/founder of OwnACondo.com, the company presenting the event.
The auction will be held November 8, 2009 at 11 a.m. at the Chicago Marriott Oak Brook Hotel, 1401 West 22nd Street, Oak Brook, Illinois. Registration for buyers begins at 9:30 a.m.
Properties available at the auction will include condos, townhouses and single family homes, all of which are eligible in the federal tax credit program if used by the buyer as his or her primary residence. Buyers who have not owned a residence in the last three years are eligible for the tax credit. Other qualifications apply and with the calendar pages turning as fast as leaves are falling, it’s important to remember that OwnAcondo.com’s Nov. 8 Auction can beat the $8,000 Tax Credit deadline.
“Individuals and families who want to make this deadline and claim their tax credit of up to $8,000 need to act quickly,” Mr. Kuzdas explains. “Getting pre-qualified by a lender is a must, and we can offer referrals, if needed. Then, with financing approved, potential buyers should register with us as bidders, do an inspection of the property at an open house and attend the November 8th auction to bid.”
Every effort will be made to meet the Nov. 30 deadline to close. Professionals at mortgage companies, real estate offices and title companies are all on high alert with the deadline approaching quickly.
“Auctions are an accelerated way to bring buyers and sellers together under one roof at one event,” Mr. Kuzdas says, “and with the tax credit deadline so close, the word ‘accelerated’ has even more importance.
Consider these interesting facts, presented by the National Auctioneers Association (of which OwnACondo.com is a member):
- More than $58 billion in real estate was sold in 2008
- Within the next few years, 30 to 35 percent of all real estate sold nationally will be sold at auction.
The auction is open to anyone interested, with advance registration requirements for buyers and sellers. The auction process is exciting and fun, with great potential to land a great deal on a great home. Add the extra thrill and importance of knowing that OwnAcondo.com’s Nov. 8 Auction can beat the $8,000 Tax Credit deadline!
More information about taking part can be obtained by visiting the OwnACondo.com website or calling 877-676-6300. Don’t delay!
Tags: auctions, auctions in Chicago, Chicago Condos, Chicago Real Estate, Condo Auctions, Condo financing
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Friday, October 30th, 2009
After months of planning, all the details are coming together for OwnACondo.com’s first Chicago real estate auction, which is being held from 11 a.m. to 2 p.m. Sunday, Nov. 8, at the Chicago Marriott Oakbrook hotel, 1401 W. 22nd St.
The well-advertised real estate auction, the first of many that Oak Brook-based OwnACondo.com is planning in the coming year, is shaping up to be quite an event. Hundreds of spectators and prospective buyers are expected to gather as at least 22 Chicago-area properties of all types go under the gavel of Illinois state champion auctioneer Vinnie Zaffarano. Properties going up for sale will include condos located everywhere from Alsip to Wheeling; vacant residential lots in Palos Park and Orland Park; luxury single-family homes in Oakbrook Terrace; and condos and townhomes all over Chicago.
Developers, individual owners and banks are making use of the Chicago real estate auction to sell their properties at fair-market prices. Pre-qualified buyers can look forward to the opportunity to get deals on some great properties. Both buyers and sellers benefit from the auction method because sales can be completed in a much shorter space of time, usually 30 to 45 days. Several open houses are held prior to the auction so people can see and inspect the properties that interest them.
Buyers who come prepared and have their home financing in place are guaranteed to get clear title to a property, and motivated sellers get to expose their property to the most prospective buyers with the least amount of hassle. Additionally, if the deal is completed by Nov. 30, first-time buyers can take advantage of the $8,000 federal homebuyer tax credit that was created as part of the President Obama’s stimulus package. Congress is considering extending the popular program, but so far, has not done so.
OwnACondo.com has taken care of all the advertising and marketing of the auction, so owners just can sit back and wait for the offers to come in. Unlike the traditional method of selling real estate, all the offers are made publicly, so there is no need for the time-consuming, wait and see process of making and offers and counter-offers.
Admission to the Chicago real estate auction is free, and everyone is welcome to just stop by for a cup of coffee and see how the auction process works. Serious bidders need to register but casual observers can just watch, and need not worry about mistakenly bidding on a property, which is a common misconception.
Tags: auctions, auctions in Chicago, Buying a condo, condos for sale in Chicago, First Time Homebuyers, Homebuyer tax credit, real estate auctions, sell a condo
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Thursday, October 29th, 2009
Where can you find the best Chicago condos? Chicago is such a mix of cultures and nationalities with over 77 different neighborhoods that condo buyers have a variety of choices from the more upscale Gold Coast to the excitement of River North. There is no place like the city of Chicago and all it has to offer from the dozens of museums to professional sports for those who want to live in one of the most exciting cities in the world. Chicago condos have become one of the fastest growing segments in the residential real estate market for first time homebuyers or those looking to experience the excitement of downtown living.
There are literally hundreds of condos to choose from at almost any price. There are several major developments currently going on downtown and many developers are rolling out new incentives for pre-construction Chicago condos. Some developers are offering credits as high as $30,000 toward furniture as well as the services of a professional interior designer who sign up before a deadline. Others developers are offering a wide range of incentives from free parking spaces to options on floor plans at no cost and price guarantees.
Some of the best Chicago condos are scattered throughout the city and below are just a few.
- Century Station
- Trump Tower
- Kinetic Condos
- Walton on the Park
- Silver Tower
- The Chicago Spire
- Ecologic Lofts
- University Commons
There is no better time to start looking for the best Chicago condos than now. Interest rates are low and pricing is the most reasonable in years with developers and sellers offering incentives to make their units stand out. That is why choosing the right Real Estate Agent to represent and market your property is a smart move. Your agent will review with you the different kinds of listing agreements or sales contracts and recommend the structure that would work best for your marketplace and property. But no matter who you choose, always look for these four parts in the agreement.
1. Timing – duration of the agreement should be clearly stated
2. Compensation – fee structure and payout
3. Cancellation – What happens if you wish to cancel the contract
4. Disputes – How will disputes be handled.
The agreement is an important document. Read and understand all sections and if you don’t ask a real estate professional or attorney.
Tags: Buy a Condo, Chicago condo developments, Chicago Condos, Chicago condos for sale, Chicago Real Estate, Chicago real estate agents, Condo Auctions, condos in Chicago
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Wednesday, October 28th, 2009
All Real Estate agents should have a list of daily activities that they should accomplish, especially if you are a new agent. Getting started as a new agent may be difficult. There are specific activities that agents should be doing to build more business and create a pipeline of clients. Now these are just suggestions, but I have found that doing these activities proved helpful.
It is always a good idea to block some time out of your day to educate yourself. I would always block a small amount of time each morning to read a Real Estate article or blog so that I was up to-date on what was going on presently in the Real Estate market. I would also block time out of my day, perhaps an hour or so, to read a chapter on an educational book. This is a good way to learn more so about techniques and strategies vs. what’s going on in the Real Estate market.
Another activity that is good to do every day is build business. There are several ways to do this but again if you are new, there are certain places where you should start. I would spend some time contacting expired listings and FSBO’s. It is a good idea to have a script when contacting the seller’s to make sure you know how to handle some familiar objections. It is also a good idea to set up a mass email campaign to all of your contacts who you already know and who know you. This is a good way to get the word out in a non-threatening way that you are in the real estate business. Make sure to set up at least a quarterly mass email and send out interesting tid bits to them as reminders.
There should always be some marketing that you do every day. Most agents starting off, do not yet have capitol. It is a good idea to try to advertise at the least cost possible. Emails and phone calls are going to be a majority of the marketing when you first start off. Fliers are another inexpensive way to get your name out and reach more people.
These are just some of the many activities that you can do to consume your day and be productive. It is always a good idea to track your results and have clear ratios when making your calls and sending out emails. If you track what you do, then you have a better idea of what works and what needs to be changed!
Tags: Daily activities of Real Estate agent, real estate, real estate agents, Real estate Business
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Wednesday, October 28th, 2009
The program today is called the American Recovery and Reinvestment Act of 2009 and authorizes up to $8,000 tax credit for first-time home buyers purchasing a principal residence. Many people have questions about the homebuyer tax credit and below are some of the answers for our buyers. Remember you should consult a qualified tax advisor or legal professional about your unique situation.
As the program now stands, which is scheduled to end on December 1, 2009, first time homebuyers purchasing any kind of home – new or resale – are eligible for the homebuyer tax credit. The definition of a first time home or condo buyer is as follows; a buyer who has not owned a principal residence during the three year period prior to the purchase. For married buyers the test is of both home buyer and his/her spouse. This year’s tax credit is different from last year’s because it does not have to be paid back. This year’s tax credit is a true credit, not an interest free loan. However, the home buyer must use the residence as their principal residence for at least three years or possibly face a recapture of the tax credit amount. Claiming the tax credit has also been made easier. All you have to do is complete the tax credit on IRS form 5405 to determine the amount and then claim the amount on line 69 of your 1040 income tax return. No other applications and forms are needed. This is what is now available but Congress is on the verge of modifying and extending the program to include more potential homeowners who can take advantage of the credit. The latest idea under consideration is a credit of $6,500 for homeowners looking to trade up to a bigger primary residence and who have already lived in their current home for five years. To qualify for the full credit homebuyers must have adjusted gross income of less than $125,000 or $225,000 for married couples filing jointly. The homebuyer tax credit will only apply to homes sold for $800,000 or less and contracts to buy a home must be signed by April 30, 2010 and must close by June 30, 2010.
Support of the changes is bipartisan which gives an extension a much better chance than ever before. Supporters maintain the current credit has helped boost existing home sales and more is needed going into 2010 to stabilize prices and generate jobs in a year when a rise in foreclosures is expected.
Tags: Buy a Condo, Chicago Condos, Chicago condos for sale, Chicago Real Estate, condos for sale in Chicago, condos in Chicago, Homebuyer tax credit
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Wednesday, October 28th, 2009
Many Real Estate agents do not understand the importance of a business plan. They do not look at their role as being an independent contractor. When you are essentially running your own business, you need to have a plan! When I was in Real Estate, I was very scattered. I was doing Real Estate in between jobs and then part time when I had a job. It wasn’t until the last time I was unemployed that I really took Real Estate seriously. I realized it was very easy to get off track and I knew that staying on track was essential if I was to take this seriously. The first step that I knew I had to do was to conduct a business plan. Without a business plan, I knew that I had no direction.
So where you start with the business plan, you may ask? I found a business plan online that I was able use that was very helpful. The idea of it was to calculate your bills every month and see how much money you needed every week, month and then year. After you figured out how much you needed to make, you then devised a plan as to how you were going to get there. This part included figuring out ratios. How many buyers and sellers would you have to meet with to reach your goal? How many closings would you have to make to reach your goal etc..
Once you got that far, it was then very important to figure out a plan to enable you to reach that goal. In this part, you need to then figure how many phone calls, how many meetings and how much marketing you need to do to get there. It is again very important to keep ratios in mind. How many people do you have to call to get one appointment? How many fliers do you typically need to send to get a response from someone?
After you have come up with your business plan and you know then what you need to do in order to reach your goals mentally and financially, then it is time to take action. This will make your days, weeks and months much more structured and you will also have a clear path toward reaching your goals. Goals are much more easy to reach once you set a clear path to get there! Become an Ownacondo.com Real Estate agent and get started today!
Tags: Business plan, real estate, Real Estate Business Plan, Realtors, we need real estate agents
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Tuesday, October 27th, 2009
When booking a mover from a moving company, it is important to consider the many aspects involved with moving in or moving out. I am in the process of moving out and therefore I have contacted many moving companies. As I called the many moving companies in my area, I came to realize that all the moving companies quoted different prices. The reason for this was because the quotes were all based on different things and different time frames as well.
The condo Specialist Realtors® at OwnACondo.com can offer many tips to help your move go smoothly: The first thing that I noticed when booking my move was that the companies quoted different time frames. Some of the companies quoted 2 hrs and some quoted 2 ½ Hours. Some of the moving companies had a minimum of 2 ½ hours where others could do a 2 hour minimum. If it is a small move, it makes a big difference to have the 2 hour minimum. They do not give you a quote right off the bat for moves that take longer than there specified time frame. The price significantly jumps if it is longer than 2-21/2 hours.
The second thing that I noticed was that some companies added in a liability fee which would cover your belongings if something were to break. Some companies did not even offer such a thing. I definitely wanted to have the liability considering the things that I was moving. If the company were to break one of my belongings, then I would like to somehow be reimbursed.
I also noticed that some companies included packing up the items and also assembling the items in the new place, where others just dropped off the items in the new place and did not offer to reassemble the items and place them in their appropriate places.
As the places in my area started booking up, I had to look at the surrounding areas where there were moving companies. If it comes to this, just make sure to also ask if they start charging you from when they leave their office or when they arrive at the destination. If you book movers whose office is far, they may charge you extra for gas and mileage.
I would venture to say that taking the extra time to see what the quote includes and explaining to the moving company all of the larger items that need to be moved, is well worth the time. This will avoid extra surprise costs that you didn’t anticipate! If you have any questions in reference to moving, OwnACondo.com can assist you with this process.
Tags: booking a move, moving, moving companies, preparing for a move
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Tuesday, October 27th, 2009
Housing Tax Credit Working
Consumers are just starting to see a ray of hope for the housing market and the overall economy because of the Homebuyer Tax Credit. The housing market has been on the rise and numbers have been increasing for the last seven months. Although it is on the rise, it is up to Congress to make that hope, a reality by building on the momentum that was created by the $8000 home buyer tax credit. There are many ways that Congress can build the momentum and keep the housing market on the upswing.
One way to build momentum is for Congress to extend the home buyer tax credit. Home sales have jumped in recent months and the housing inventory has improved. This has resulted in a stabilization of home prices. Why not keep a good thing going.? If it’s not broke, then don’t fix it! If they stop this homebuyer tax credit too quickly, in other words before the economy turns around, then the economy could end up worse then it started and on top of it be way more in debt.
Now is the time to build on home sales and expand it to all home buyers. Prices are low and it is a great time to buy, especially with the Homebuyer Tax Credit that is slated to expire November 30th. However, this cannot help new purchasers now who write a contract today, because they won’t be able to close before the deadline. Without Congress acting now, the market and our national economy may freeze again, possibly as soon as this month.
There are a number of other actions that can strengthen the economy as well. First of all, make the FHA and Fannie May/Freddie Mac loan limits permanent, those programs are set to expire at the end of the year. Maintaining current loan limits would ensure that families would have access to low cost financing and also refinance problematic loans into safer, more affordable mortgages.
Also Congress should continue to aid in the secondary mortgage market. Without this help, market participants will have no incentive to reach out to lower incomes consumers who have great credit. They need the federal government involvement in the secondary mortgage market. We must ensure that the housing markets works in all aspects of the market at all times and the mortgage capital is provided to all qualified and potential purchasers in a way that promotes sustainable homeownership. It is time to end this downturn and finally recover from all the damage done!
Tags: $8000 first time homebuyer tax credit, $8000 Homebuyer Tax Credit, Homebuyer tax credit, more affordable mortgages, refinancing your home
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Tuesday, October 27th, 2009
So you are thinking about buying a condo but you are not sure where to start. There are many aspects to buying condos such as what areas, how big and what condo association questions should I be asking. Condo associations were originally created as a legal entity for the purpose of developing, managing and selling the development. It allows the developer to exit the financial and legal responsibilities typically by transferring ownership to the condo owners after selling off a pre-determined number of units. Once this is done the important thing for any condo buyer to know regarding the association that will be overseeing their common property is what are the responsibilities of all involved? You are spending your hard earned money and the last thing you want to do is get stuck with a lemon or live someplace that is not what you expected.
There are a lot of condo association questions to ask before you buy but we will only cover a few.
- 1. Ask to see the condo association board meetings minutes. What have the owners been talking about, what are their concerns and issues, are there a common thread for some of the complaints, etc.
- 2. What is the renter to owner percentage? If the renter population is very high are there rental policies in place either in the bylaws or by an amendment. Always remember the association can change its bylaws so make sure you are well informed of any changes.
- 3. Ask for a copy of the certificate of insurance from the association which is a summary of the association’s policy. Are the replacements costs enough to cover rebuilding if need be? Another important area to question regarding the association insurance policy is if it has a building ordinance clause. This clause insures that the building will be up to the current code if rebuilding is required.
- 4. How much is the repair fund? This will tell you if the association has the funds available for maintenance. If the fund is not high enough then the complex may not be as well kept as it should be or be living beyond its means.
- 5. Ask to see the delinquency rates of the current owners. When people do not pay their association dues on time it may be a sign of discontent and you will need to find out why.
Asking the right condo association questions is as important as finding the right real estate agent or the right financing. We all want to make sound financial decisions and the only way to accomplish this is with the right questions.
Tags: Chicago Condos, Chicago condos for sale, Chicago Real Estate, Condo Associations, condos in Chicago, Rent to Own Condos
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