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301 Greenview Drive, Crystal Lake, IL 60014

773.818.9054 office/cell
866.381.4238 efax

Check out my interview, Expert Advice on Buying a Foreclosed Home on Illinois Homes, one of the top sites for Illinois homes for sale, including Wheaton, IL real estate. Illinois Homes also services Michigan homes for sale and Pennsylvania homes for sale.

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Thursday, November 29, 2012

Tenancy by the Entirety for Couples in a Civil Union
Recently I have had a few couples who are parties to a civil union in Illinois purchase property together. In the State of Illinois, those couples can now take property as married couples do in "tenancy by the entirety". That means that you have extra legal homestead protection against personal liens, lawsuits, judgments, etc. (This does not include joint debt or lawsuits that affect both people). The State of Illinois has not yet verbalized how the deed should read, but taking from Vermont and a couple of other states that are farther along in the process, I have been using their verbiage of "Joe Doe and Bob Buck, parties to a civil union in the state of Illinois" for my clients. Remember when you purchase property together to ask your attorney about this option in taking title!
1:48 pm cst 

Tuesday, November 6, 2012

Make sure you go and vote today! :)
1:33 pm cst 

Home Sales Jump in the Burbs, Sink in the City

From Chicago Real Estate Daily - Local new-home sales are surging in the suburbs but dropping off in the city, a tale of two markets as the homebuilding business rebounds from a six-year slump.

The nascent homebuilding recovery has been more sprawling than skyscraping in Chicago, with suburban new-home sales jumping nearly 22 percent at a seasonally adjusted annualized rate in the third quarter, while city sales fell nearly 43 percent, according to a report by Tracy Cross & Associates Inc. Area builders overall are on pace to sell 3,221 new homes this year, up 11.1 percent from the recorded total last year.

Such an annual gain would be the first since 2005, but the recovery isn't being felt everywhere. The housing bust all but stopped condominium development downtown, where many urbanites are choosing to rent instead of buy in a city with shiny new apartment towers and a still uncertain condo market.

“The former buyer now becomes the renter in the city,” said Mr. Cross, president of his Schaumburg-based consultancy.

 Yet single-family sales have jumped 36 percent on a seasonally adjusted annualized basis over last year in the suburbs, where builders face less competition from the rental market. Sales of suburban condos and townhouses also rose 6 percent in the third quarter.

“People are tired of waiting around, whether buying a new home or downsizing, the buyers we're serving are ready to move on with their lives,” said Brian Brunhofer, president of Deerfield-based Meritus Homes, which has sold five homes in northwest suburban Long Grove after opening a 20-home development there 90 days ago.

Meritus bought the site, as well as others it is relaunching in Naperville and St. Charles, after the housing bust wiped out prior developers.

 “We're not getting close to 10, 15,000 permits anytime soon, but you see people are believing it's a good time to buy right now,” Mr. Brunhofer said.

 Without annualizing sales and adjusting for seasonality, developers sold 740 homes in the third quarter, up 8.2 percent from 684 sales a year earlier. Only 84 of those sales were in the city, where new-home sales dropped 42.5 percent from the same period last year.

Though the data is encouraging, builders are nowhere near the peak of the market in 2005, when they sold 33,287 homes.

Read more: http://www.chicagorealestatedaily.com/article/20121030/CRED0701/121039990/new-home-sales-jump-in-burbs-sink-in-city#ixzz2BTLgS9m3 

1:29 pm cst 

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