Archive for 2012

14 Dec
Hyperion Homes
Posted On : 12 14th, 2012   By : Alice  |  Real Estate

“I have recently sold my home as a Short Sale, but would like to get back on track and own a home within the next 3-5 years.”  Do you know of anyone in this situation?

It has been a rough few years.  Sadly, so many people have lost their jobs or have been relocated because of their job.  Additionally, with unemployment the way it is, it is difficult to find a job overall.  Things may have spiraled down, causing you to make the difficult decision and short sell your home.  It has now been a few months or longer, and you are starting to get back on track.  However, you cannot get a loan to purchase a new home due to your current credit score.  We may have a solution for you!

Hyperion Homes is working almost exclusively with Coldwell Banker, to help employed individuals (who had to short sell their previous home) purchase a new home.   They offer a program in which you find your home through your Realtor, for example a Broker from The Alice Chin Team.  Once you have found a house that meets the standards of Hyperion Homes, they submit an offer to the seller.  Then, Hyperion offers a Lease with Purchase Right between you, the future owner, and Hyperion. The rent will be determined by the purchase price, closing costs and any repairs that need to be made. There is an application, credit and background check that must be completed by all occupants 18 and older.

We feel like this is a unique and positive opportunity for so many people who have felt the pains of the economy over the last few years.  If you think you might be a great fit, or if you know of anyone who may benefit from this program, please give us a call. We would love the opportunity to sit down and discuss the details with you!

26 Nov
My house is on the market. Do I decorate for the Holidays?
Posted On : 11 26th, 2012   By : Alice  |  Real Estate

Tis the season!  You walk out the door and everything you see is screaming the holidays are here. Regardless if your house is on the market, or you need to put your house on the market, it is okay to decorate. Just as you are getting your festive decorations out of storage keep in mind that at any time you can get an offer and may have to have all your decorations and belongings out of the house days around the holiday. Here are a few tips to keep in mind.

  1. Less is more. You may not need to bring out all of your decorations.
  2. Keep in mind the highlights of your home. Do not hide anything that stands out about your home.
  3. Watch out for tripping hazards.
  4. It is understood this is a Religious time of year, but Menorahs and Nativities should be discretely displayed.
  5. Try and keep lawn ornaments to a bare minimum. What you think is cute and whimsical a potential buyer may think it is tacky and cluttered. This could turn them away from your home.
  6. Keep in mind the time frame. All your decorations should be down and put away within 2 weeks after the holiday. Longer than that it can appear the house is neglected and a buyer can wonder what else is neglected in the house.

This is also a time to take advantage of the season. Lights can add an ambiance and allow your home to stand out.  If you have to show a home while your house is decorated for the holidays, keep in mind these tips and your house should give a potential buyer the same opinion as if your house was not decorated.

14 Nov
When Should I Sell?
Posted On : 11 14th, 2012   By : Alice  |  Real Estate

When should I sell?
This is a question that homeowner’s ask when they are thinking about putting their home on the market within the next year or two. A Realtor’s answer is always, “right now.” We say that because, yes, we would love the honor of listing your home; but also, because we truly mean right now is the best time to sell. We don’t know what the mortgage rates are going to be 6 months ahead, what financial state the country is going to be or what the housing market will be like. We read reports and listen to the trends, but we do not have a crystal ball to tell us what will happen. We hope the housing market will continue to get better, as it has been improving throughout 2012. However, we only know what the current market is right now, in addition to information based on past trends.

What season should I sell?
Waiting until spring is traditionally the rule of thumb. However, this is a time to go back to Economics 101. Supply and Demand may be able to answer your question. When a lot of homes go onto the market but there are not a lot of buyers, your home can sit on the market longer and price can go down. When there are not a lot of homes available for sale and there are a lot of buyers, your property suddenly becomes more competitive and a buyer can be found much easier- assuming it is priced accordingly. The best time of year to sell is usually based on your personal situation and also how much buyer activity/demand is currently in the marketplace.

Spring: Buyers are out looking and a property can get maximum exposure during this time. Additional, many buyers are starting their search in the springtime. They want to make sure they see everything before making a decision.

Summer: Lots of inventory and plenty of buyers. Typically this is a very busy and competitive market.

Fall: Inventory is lower and buyers are trying to wrap things before the holidays. Buyers typically are ready to buy.

Winter: Inventory is typically at its lowest point of the year and showings can be far between. However, buyers are serious. They will not be wasting their time in the cold, ice, and snowy weather.

As you can see there are pros and cons to selling your home during various times of the year. Once you have decided it is time to sell, there is no reason to wait. Right now is truly the best time to sell, since you know what the current market conditions and inventory levels are at.

17 Oct
The Alice Chin Team Is Green!
Posted On : 10 17th, 2012   By : Alice  |  Real Estate

For the past 2 months, my team and I have been working on transitioning to paperless systems. At the beginning of this journey, I have to admit that it was really daunting and I almost wanted to give up after the first 2 weeks. However, I am excited to announce that we have finally made it through! Here is what we have accomplished during these past 2 months:

 

  • All buyer home tours are now paperless. Listing sheets and notes from all home viewings are taken through Evernote. We can also add photos of the home and videos to our client’s Evernote file!
  • All of our client and business files are stored in Dropbox. I can now access and modify anything from my ipad, no matter where I am.
  • From contract to closing for our buyers, our transaction process is entirely paperless. We sign documents through Docusign and edit documents through PDF Expert. Our clients also have the ability to sign in person on the ipad with a stylus.
  • From contract to closing for our sellers, our transaction process is also paperless.
  • All of our clients can easily and securely access all of their purchase or sale documents in Cartavi. This makes it so much easier, if they need to review an attorney letter, a copy of their contract, or other documents. We have also been able to invite all of our other team members to Cartavi (attorney, lender, home inspector) and they also have securitized access to transaction documents. One of my favorite features is that we can e-mail and fax from Cartavi, which saves our precious e-mail inbox space.

I know that this is just the beginning of my team’s paperless adventure! During our 2 month process, I feel that we have just begun to scratch the surface of all the possibilities. We have been able to be more productive, get more accomplished, and most importantly, provide our clients with better service!

Now, my next challenge is to figure out what to put in the empty file cabinets, where all of the paper files used to be!

10 Apr
Naperville SD Boundary Changes for 2012-13
Posted On : 04 10th, 2012   By : Alice  |  Naperville

A few weeks ago, the Board of Education approved boundary changes for the upcoming 2012-2013 school year. They have named the changes “Phase I” and the main purpose is to alleviate student overcrowding at Mill Street and Beebe Elementary schools.

If you are like me, and have been following the turmoil and discussions regarding the proposed changes, you know that this has been a very emotional and stressful time, especially for many parents.

They announced that the remaining changes will be revealed in Phase II, so that the committee can have more time to make a decision on the remaining changes.

428 Elementary school students and 76 junior high school students will be affected during Phase I.

Here is the link of the map outlining the proposed changes:

http://www.naperville203.org/assets/D203%20Boundary%20Map%202012_2013.pdf