Park Ridge Real Estate News

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Posted by Park Ridge Real Estate | Posted in Park Ridge, Real Estate Info | Posted on 25-07-2016

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Skyline of The City of Park Ridge, Illinois

Skyline of The City of Park Ridge, Illinois (Photo credit: Wikipedia)

As we head into August and the impending “back to school” sales, it’s important for prospective buyers to stay diligent with their searches.  Homes are selling briskly and are receiving multiple offers in many cases, especially in Park Ridge and the surrounding areas of Niles, Des Plaines, Mount Prospect, Prospect Heights etc.  It’s in your best interest to act quickly with new listings and to always make sure you are in touch with your lender, if you have one.

Summer is headed into its final month and we all know what that means; fall is coming, the NFL is coming and before you know it, winter! ugh!

If there’s anything I can do to help you buy or sell your home in/around the Park Ridge area, please contact me at your earliest convenience. I can help….

Hope you have a good week…..

 

 

Real Estate – What to do in a Seller’s Market

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Posted by Park Ridge Real Estate | Posted in Market Stats, Park Ridge, Real Estate Info | Posted on 03-05-2016

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English: An icon from the Crystal icon theme. ...

Seller’s Market

There is no doubt that Park Ridge and the surrounding area is seeing a true seller’s market. If you are the seller, this is a great position to be in for many reasons:

  • You will most-likely see multiple offers for your home
  • You can pick the buyer that is most-ready to close
  • You will hopefully get more for your home than you asked for
  • You should be able to sell your home quicker in a seller’s market
  • Real estate inventory levels are low
  • Rent is getting more expensive
  • It’s Real Estate Season

If you are the buyer in a seller’s market, here are some points to consider as you look for your new home:

  • Make sure you are looking at new homes immediately as they come on the market (other shoppers will be doing this)
  • Get Pre-Qualified before looking at any homes
  • Be aggressive with your offer if you find something you like
  • Do not try to over-negotiate with your seller – they may choose another buyer
  • Be ready to move (get your quotes for movers)
  • Don’t settle for a home you don’t want (even if you feel pressured to just buy a home, don’t buy it for that reason)
  • Be flexible with your time if possible (you have to act quickly in a seller’s market)

If you have any questions about how to successfully buy or sell a home in a seller’s market – please feel free to call/email me with your needs.

 

St. Patty’s Day and Real Estate

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Posted by Park Ridge Real Estate | Posted in Park Ridge, Real Estate Info | Posted on 17-03-2016

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St. Patty’s day and forwarding our clocks ahead is typically the start of our busy season in Real Estate. Park Ridge homes, townhomes, condos will be listed and sold with more frequency the closer we get to summer. Although we have still had a very busy winter, REALTORS® know that Spring/Summer in Chicago and the suburbs like Park Ridge is the start of the listing season. Many “listers” have children in school and try their best to time the market with the end of the school season.  It’s the same with buyers, especially in Park Ridge.

With that, Happy St. Patrick’s Day to you and watch out for the green beer!

 

Building Permits for Park Ridge

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Posted by Park Ridge Real Estate | Posted in Building Permits, Park Ridge, Real Estate Info | Posted on 10-02-2016

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Building permit from 1921

Building permit from 1921 (Photo credit: Wikipedia)

This question comes up a lot at parties, gatherings, picnics, etc. – Do I need a permit to Build a BLANK?

Oftentimes, I can offer up a definitive yes or no – but in other instances, it’s important to check the source as permit requirements can change from year to year.

Here’s the building permit info straight from the source…The City of Park Ridge…

“A building permit is generally required for most construction, including new building construction and additions, garages, interior and exterior alterations, driveways, heating and air conditioning work, electrical and plumbing work, swimming pools, fences, patios, decks, sheds, re-roofing and siding. Routine maintenance that does not change existing electrical, plumbing or mechanical system or any structural walls will not require a permit. No permit is needed to change windows unless the window opening is being enlarged. Reshingling a roof does not require a permit.  Building Permit Application Form.

Citizens of Park Ridge can call the Building Department at 847-318-5291 or 5292 to find out if a project requires a building permit.

Most Building Permit applications are processed in less than a week; however, it may take up to 15 working days to obtain a Building Permit for larger construction projects. The time it takes to obtain a permit depends on the type of construction work being done and what needs to be reviewed.

Building Permits for residential structures are valid for a period of one year. If work is not completed within one year, the applicant may request up to a six month extension. A permit may be extended only once. Permits may be renewed after expiration but the applicant will have to pay half the cost of the original permit fee.

When considering building a new home, the size of the house that may be built is determined by the Zoning Ordinance. The floor area ratio, the amount of open (green) space, amount of lot coverage and the required setbacks all influence how big and where a house may be built on a zoning lot.

All new construction, including residential construction and major additions, but not including detached accessory structures on single family residential parcels, must be approved by the Appearance Commission prior to the issuance of a building permit. Permits should be applied for well in advance of the proposed construction starting date.

A permit is for your protection — it assures that the work is permitted under the law and that it is checked by City inspectors to make sure the work was done properly.”

Click here for a list of Construction Guidelines that may assist you in the permit / building process.
Click here for Permit Submittal Requirements.
Click here for Right-Of-Way/Easement Encroachment Agreement

Of course, if you have any questions about building a new home, please feel free to call on me to help answer any questions you may have about the Park Ridge or surrounding area of NW Chicagoland…..

Hinkley Park Townhomes in Park Ridge

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Posted by Park Ridge Real Estate | Posted in Park Ridge, Real Estate Info | Posted on 07-12-2015

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Hinkley Park Townhomes is a new development of 23  residences  in the heart of Park Ridge – just steps to the metra, shopping and eateries!

Beautifully designed by Baranyk Associates, Ltd, these 3 story 3 bedroom 2 ½ bath 2 car attached garage town home will have approximately 2850-3200 square feet of upscale living space with excellent natural lighting, open floor plan  and quality finishes. The terrace, balcony off the master suite and huge enclosed roof deck are a definite plus!

For more information, please call or email me. These will go quickly!

Coldwell Banker

Coldwell Banker (Photo credit: Wikipedia)

 

Stock Market Woes and Real Estate

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Posted by Park Ridge Real Estate | Posted in Market Stats, Real Estate Info, Uncategorized | Posted on 24-08-2015

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By now, I’m sure you’ve heard about the losses at the NYSE.  What does this mean?  How does this affect me?  What, if anything will happen in Real Estate. because of it?  The short answers – (Hopefully) not much, not much, and not much.

Now, that might seem a little dismissive and perhaps, too flip or succinct a diagnosis, but is it really?  Like everything in life, it’s about timing.  Now, please don’t get me wrong, this will affect a lot of people, but most of those affected are playing the market for a living.  Companies that were hardest hit – Apple, for example – aren’t going anywhere.  They will be here next year and once the market corrects itself, it’ll be like it never happened.

This will also affect anyone that was going to cash out a 401k this week, someone who had their escrow money in a stock account, as well as stall the gains they were most certainly counting on.  But what I’m really trying to say is – don’t freak out!

I empathize with anyone that was financially affected by this, but I’m hopeful that your money will come right back to you if you stay in the market.

It’s too soon to tell if this will affect the Real Estate market – we will see what happens but in the meantime, keep your wits about you and talk to a professional if you need to.

 

What makes up your FICO (credit) score?

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Posted by Park Ridge Real Estate | Posted in Real Estate Info | Posted on 21-04-2010

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fico_breakdown.jpgMuch like the Google Algorithms, how FICO scores are calculated has been a closely guarded secret.  Also like the Google Algorithms, some things are known to help or hurt a score. So how does FICO come up with your credit score?  Here are 5 main criteria used to calculate your score.

1. Payment History: 35 Percent of the Total Credit Score
2. Debt Amounts — 30 Percent
3. Length of Credit History — 15 Percent
4. New Credit – 10 Percent
5. Credit Mix – 10 Percent

For the entire article, please click here.

Information provided by creditcards.com

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April will be a very busy month

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Posted by Park Ridge Real Estate | Posted in Real Estate Info | Posted on 05-04-2010

I hope everyone had a nice Easter holiday.  April is a busy month and usually, the start of increased home buying and listings.  With the tax credit expiring this month, expect a flurry of transactions that will drive numbers up for the year.  REALTORS are certainly hoping that the tax credit will be extended after the month expires as it has done some very good things for the lagging market.

It’s coming!

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Posted by Park Ridge Real Estate | Posted in Real Estate Info, Tax Credits and Info | Posted on 30-03-2010

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Logo of the National Association of Realtors.
Image via Wikipedia

It has to be Spring because we are going to crack 70 degrees this week – The Cubs and Sox start their seasons in the next couple days and real estate activity is starting to pick up again.  The weather really does have an impact on Real Estate, certainly in our part of the country.  The National Association of REALTORS issued their latest report stating that the weather had impacted showings last month.  Flip that to our recent weather and things are looking better for Real Estate. 

We haven’t heard much about extending the tax credit yet, but there will be a flurry of activity this month to try and meet the 4/30 deadline.  Here’s to Spring!!!

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Here Comes Spring!

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Posted by Park Ridge Real Estate | Posted in Real Estate Info | Posted on 04-03-2010

After checking the weather reports, I’m so happy to see that we are headed for at least 10 days of weather over 40 degrees! This has been a long, hard, snowy winter and I think we are all happy to see the sun again. Good weather seems to affect people and soon we’ll start to see people walking around, washing their cars, and even grilling (probably this weekend).

Then, of course, comes the Real Estate season.  Spring and early summer are the busiest times for most REALTORS.  I’m hopeful the tax credit will be extended again, but we never know for sure. On top of that – Mortgage companies are talking about a future FED increase.  I’m expecting a lot more activity in the next 6-8 weeks and then even more after that.

For now, let’s enjoy a sunny, somewhat warm weekend.