COME JOIN ME AT MY NEW BLOG

It has been pleasure blogging with you all here and I invite you to visit my new Blog at www.realestatenorthernillinois.com/blog to receive more great Real Estate information and resources.

MAKE OR BREAK A SALE WITH FIRST IMPRESSIONS

You only have one chance to create a powerful first impression with potential buyers and this will normally start with the exterior of the home. Curb side appeal is important in grabbing the buyers attention to the home and leaving them with the feeling that your home is inviting them to take a closer look. First impressions don't end there. Buyers will have a definite impression of your home within a couple of minutes of walking in the front door. This is where you want to "wow" the buyer and draw them into the rest of the home.

The following article has some great tips on how to create a powerful first impression with curb side appeal and interior decorating ideas.

PRICE REDUCTION OR BUYER INCENTIVES?

In a slowing market similar to what we have been experiencing lately, many home "sellers" and agents are faced with the challenge of pricing properties right in order to sell.

Typically what will happen, is if after a predetermined amount of time passes and the property has not sold, the agent will implement a price reduction to the sale price of the home; something "sellers" are generally reluctant to do.

What other option do they have if they want the property to sell? There are options to be discussed with your agent, and you can read more about them in the following article here.

AN ALTERNATIVE SOLUTION TO SUBPRIME LOANS

As the subprime mortgage industry is in a downward spiral, many first time home buyers and people with less than perfect credit are wondering how, and if, they will be able to secure a mortgage.

There is hope. The Federal Housing Administration (FHA) is expanding their offerings to credit-impaired and first time home buyers with insured mortgages. You can read more about the FHA and their insured loans in this article FHA a mortgage source amid subprime loan mess.

CITIGROUP TO ACQUIRE ABM AMRO MORTGAGE GROUP

Merger with CitiMortgage would create third-largest

home loan originator

Citigroup Inc. says it will acquire ABN AMRO Mortgage Group, and move ABN's $224 billion mortgage servicing portfolio and 2,500 wholesale brokers to CitiMortgage Inc. in the process.

The combined companies will be the fourth-largest mortgage loan servicer and third-largest originator, Citigroup said in a press release today. Terms of the sale, which is expected to close this quarter, were not disclosed.

ABN AMRO Mortgage Group's primary originations business is via wholesale lending under the InterFirst brand. ABN AMRO Mortgage Group is a subsidiary of LaSalle Bank Corp. and ABN AMRO Bank N.V., and is headquartered in Ann Arbor, Mich.

Headquartered in St. Louis, Mo., CitiMortgage Inc. specializes in residential home lending through retail, wholesale and correspondent loan origination channels.

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Monday, January 22, 2007

Inman News

YAHOO REAL ESTATE LAUNCHES SCHOOL TOOLS

Users can view test scores, class sizes, reviews

Yahoo Real Estate has launched new tools, at http://realestate.yahoo.com/Schools, that allow users to research neighborhood schools across the nation.

Users can get view a list of schools and a map of schools in a selected area and sort those schools by name, grade level and type (such as public, private or charter school). The information is provided through a partnership with not-for-profit GreatSchools.net.

The school information can include test scores, reviews, student-to-teacher ratio and average class size, and teacher and student data including dropout rates, student demographics and teacher credentials. Site users can also enter their own reviews of a school.

There are school comparison tools offered through the site and a search tool that allows users to view other amenities such as parks and local businesses in the area.

In addition to the new "research schools" tools at Yahoo Real Estate, which launched Jan. 18, users of that site can post home listings, research communities, search for a Realtor, request a credit score and access home-valuation tools.

Monday, January 22, 2007

Inman News

HUD AWARDS $31 MILLION FOR LEAD PAINT CLEANUP, EDUCATION

Detroit, Milwaukee, Austin and San Francisco get biggest grants

Local efforts in 12 states to eliminate lead-paint hazards in thousands of privately owned low-income housing units have been awarded more than $31 million in grants from the U.S. Department of Housing and Urban Development.

HUD's grants will help local projects in California, Illinois, Michigan, New Hampshire, New York, Rhode Island, Texas and Wisconsin reduce lead-based-paint hazards and improve living conditions. Eligible jurisdictions for the grant program include those with at least 3,500 occupied rental-housing units built before 1940.

Detroit and Kenosha County, Wis., landed the biggest grants ($4 million each), followed by Milwaukee ($3.9 million); Austin, Texas ($3.8 million); San Francisco ($3.3 million); Albany, N.Y. ($3 million); Woonsocket, R.I. ($2.8 million); Manchester, N.H. ($1.8 million); Lansing, Mich. ($1.4 million), Winnebago County, Ill. ($1.2 million); Buffalo, N.Y. ($1.1 million); and Schenectady, N.Y. ($1 million).

Detroit will produce approximately 200 lead-safe homes, conduct community education and outreach, and perform blood lead testing of young children, HUD said in a press release.

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Monday, January 08, 2007

Inman News