Park Ridge TodayPark Ridge Illinois Real Estate and More

 

Outdoor water restrictions are in effect from May 15 through September 15. Residents may use outdoor City water only on even or odd-numbered calendar days, corresponding with the last digit of their house number. Zero is considered an even number. Outdoor water use includes use on lawns, gardens, trees, shrubs and for washing vehicles. A special permit for watering newly installed sod, valid for two weeks, can be obtain at the Public Works Department at City Hall. Call 847-318-5227 for more information.

Here’s the calendar for the events this week in Park Ridge, IL.  There are some great things to do, free classes on computers, story time for kids, career consulting and many more.

Here’s a great website with a calendar of events for Park Ridge as well info on municipal/community meetings. 

This weekend there are events for infants/small children, a Rock Band tournament and a Dr. Suess musical at Maine East.  There’s an Irish Fest on Sunday as well as an Indoor Famer’s market and an orchestra all within Park Ridge.

Hope you all have a great weekend!

 

Another by-product of the economy has been reduced prices on collectibles, musical instruments, home furnishings and more. Every once in a while, I’ll just look at what is for sale just in Park Ridge on Craigslist.  Here’s the link if you would like to do a little browsing.  There are some fantastic offerings from cars to furniture.  If you have kids, all kinds of great stuff can be had at a huge discount.  There are even high-end offerings at prices you just cannot find anywhere else.  Even Real Estate!

 

Here is yesterday’s Business front page from the Daily Herald:  “Home Sales Still on Shaky Ground”
Here is today’s Business front page from the Daily Herald:  “Home Prices, Confidence Increase”Â
Get the facts about your local market, just like you would anything that will impact your life as much as a Real Estate purchase.  One thing is still certain in this market – It is the time to buy your first home or move up in price if your career is stable (Is there such a thing?).  The media certainly loves drama – but I work with the facts – Please let me know if you need market statistics for Park Ridge or the surrounding areas and you be the judge as to which headline is most accurate.

Now – How confusing is this?

 

I was doing some research on the HARP program and other mortgage plans that have been introduced and I stumbled onto a message board for people that are purposely walking away from their mortgages and mailing the keys to the lender, thus Jingle Mail.

Researching (sometimes called surfing) I found more on “Planned Foreclosures” in other parts of the country that have been affected the most by the housing markets.  I have to say, the argument is a good one, albeit one with many repercussions, mostly negative.

Without a doubt, this affects not just that homeowner, it affects the entire neighborhood. I’m sure most would agree that our lives have been affected by this; bad mortgages, overzealous lenders and fictional applications for homes. On the other hand, it is impossible to have 10% – 12% appreciation annually on a home, so something had to give.

We’re in the midst of pulling out of the worst of this, thankfully Park Ridge hasn’t been hit as hard as other parts of the country.

Wow, where did those last ten years go? I know we might be saying where did those last 25 years go as well. Time flies and throughout these last 25 years, real estate has seen dramatic shifts in both directions as well as the mortgage industry.

I can say this for sure: This is one of the very best times to move up or buy your first home. The pricing will start to come back up and we have seen that already starting. Interest rates are still extremely low and we all know this cannot last.

Many are taking advantage of the tax credits and that has been the genesis of the latest surge in home sales. Inventory is declining and spring is not far off, which should allow for a continuation of the growth we have seen recently.

Here’s to a great decade!

The recent report on November Sales was very encouraging, to say the least. Homes are starting to sell thanks to the new tax credits that were introduced and extended for new homeowners. Us REALTORS are excited and thankful for the boost and would advise lookers to get moving because these programs do have expirations.

Here’s more info in the new tax credits.