Preservation Program Gives Frankfort Homeowners Incentive to Make Improvements

“FRANKFORT, IL – Homeowners in downtown Frankfort’s Old Town now have an incentive to improve their homes while keeping them in line with the historic parameters and feel of the neighborhood.

The village board approved a new “historic home preservation program” last month. It offers relief in fees associated with the improvements and recognition for homeowners who take part.

Jeff Cook, development services director for the village of Frankfort, said the incentives come at three levels.

For those undertaking a $1,000 remodeling project, the village will waive a $75 permit fee and $25 plan review fee. When the project is complete, the homeowner will receive a letter from the mayor thanking them for their investment.

Those undertaking a $10,000 remodeling project, a $225 permit fee and $50 plan review fee will be waived. They will also receive a certificate.

Anyone taking on a remodeling project valued at $50,000 or more will skip an $825 permit fee and $100 plan review fee and will get a plaque commemorating their work.

“These will be for the more extraordinary renovations that will make the structure more sound and to keep is marketable and up to standards for years,” Cook said.

It “recognizes those working to preserve homes in our downtown district,” he wrote on Facebook after the program was approved in mid-January.

Cook said the creation of the program began as a response to some structures in downtown Frankfort that have been demolished in recent years and replaced with ones that “don’t always fit today’s marketplace.”

“We realize people had the right to do so, but felt like we weren’t doing as much as we could to reward those who were maintaining their homes and keeping them marketable,” he said. “Here, we are acknowledging their efforts and encouraging investment.”

The preservation program isn’t modeled after any other specific community, but the result of “a collaborative process” that looked at what has worked in several places.

“We picked the one that fit for Frankfort,” Cook said.

Photo courtesy of Village of Frankfort”

See Full Article: http://patch.com/illinois/frankfort/preservation-program-gives-frankfort-homeowners-incentive-make-improvements

TWO HOMES JUST SOLD in Frankfort, IL

22052 Rosemary Rd & 20107 S Thorndale Dr, Frankfort, IL 60423

These two beautiful and modern homes just sold by the Baz Realty Network.

Looking to sell you’re property in the Frankfort, IL area of South Chicago? WE’RE A MOTIVATED TEAM THAT GETS RESULTS! Houses in the Frankfort area are selling in less than 30 days. Find out how simple selling your home can be.

Our Network’s Exclusive Offerings for Sellers:

• Aerial Bird’s-Eye View with Drone Footage
• Professional Property Photography
• Consistent Follow Up and Prestigious Marketing

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Baz Realty Network has Joined GPS (Keller Williams Global Property Specialists!)

Bart Basinski        Keller Williams Preferred Realty       bartbaz@kw.com       708-277-9229

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What is this GPS platform?

  • The GPS platform allows for our listings to be shown worldwide to real estate agents in hundreds of countries. The Keller Williams Global Property Specialist platform distributes our listing information to consumer real estate websites all around the world. This expands your ability to sell your home. This maximizes the opportunity to find qualified buyers. Our listings will be distributed across a network of over 80 publishers with coverage in Asia, Europe, North and South America.

Continue reading “Baz Realty Network has Joined GPS (Keller Williams Global Property Specialists!)”

Palos Heights home SOLD FIRST showing!

Bart Basinski      Baz Realty Network – Keller Williams Preferred Realty       BAZrealtynetwork.com    bartbaz@kw.com

 Address: 12203 S. 68th Ct. Palos Heights, IL 60463

Kitchen
The Kitchen has been completely remodeled. Brand new granite counter tops, new appliances and new cabinets.
Front Room
The front room has been completely remodeled, from the drywall to the fireplace.
Laundry Room.
The Laundry Room has been furnished with both a new washer and dryer.

Description of the Property

The 1450 square feet home in Palos Heights has been completely remodeled all the way down to the studs. This property offers brand new granite counter tops, custom tile work, custom molding and trim, windows, appliances, electrical and a restored deck for entertaining the the back yard.  Before the remodel this home suffered from a fire that started in the back bedroom.  Although the fire was contained to the back bedroom, the rest of the house suffered severe smoke damage. When we first took a walk through the house we could see the smoke damage to the windows and the walls. What a beautiful home this property turned out to be!

Details of Sale:

The list price for the property was $259,900. The property sold for $260,000. The buyer paid cash.

 

Local School’s:

Palos Heights local school district is 128. The four main schools in the district are: Indian Hill Preschool, Chippewa Elementary School, Navajo Heights Elementary School and last but not least Independence Junior High School. Indian Hill school primarily educates the prekindergarteners.  Chippewa Elementary School educates students in the first through third grades and also offers a kindergarten program. Navajo Heights Elementary School educates students that are in the fourth and fifth grade. Independence Junior High School educates students that are in the sixth through eight grade. Chicago High School District 218 is the primary high school provider for Palos Heights and the surrounding area. CHSD 218 consists of five different high schools, they are: Eisenhower, Richards, Shepard, Delta and Summit. Alan B. Shepard High School which is located in Palos Heights serves as the communities primary high school. To get a complete look at all the schools and their ratings visit our website BAZrealtynetwork.com.

Community Features:

Palos Heights offers many places to go, and things to see. Downtown Palos Heights offers many restaurants/bars that offer unique eats and treats.  Many local businesses flourish in Downtown Palos Heights. To see all the local businesses in Palos Heights click here.

Palos Heights Pool 

Palos Pool
Palos Heights Pool

The Palos Pool offers a very large z-shaped pool, along with a body slide, drop slide and a diving board. Along with the main pool, a wading pool is available for the young ones. Palos pool also offers swimming lessons to those who want to learn how to swim. Located next to the Palos Pool are five large baseball fields.

Lake Katherine Nature Center and Botanic Gardens

Lake Katherine

Lake Katherine Nature Center & Botanic Gardens is one of the best parts about Palos Heights. Lake Katherine has miles of walking trails and biking trails. Their are many sights to see at Lake Katherine, from the beautiful lake, to the beautiful water fall and down stream river. While walking on the trails, you will see an abundance of different tree’s, wildlife and spectacular views. Lake Katherine also offers youth programs to get your children connected with Nature. Lake Katherine also offers Adult Education Programs.

Oak Hills Country Club

Oak Hills Country Club

Oak Hills Country Club offers a 9-hole golf course. The golf course itself is surrounded by large tree’s and 50,000 acres of forest preserves. The Oak Hills Country Club is located at 13200 South 76th Avenue, Palos Heights, IL 60463.

Dining in Downtown Palos Heights

Joe Daniels

Sam Buca’s

 Bon A Pit

Thai Smile

Capri

 For more eat’s click here.

It is my goal to make your Real Estate experience as smooth as possible.  By utilizing state of the art technology and providing superior customer service your Real Estate transaction will be handled with professionalism and competency.  Whether you are a first time buyer, moving up, downsizing, or investing rest assured I have the experience and knowledge to guide you through the process with ease.  I would love to be your “Realtor of Choice”, so please feel free to contact me regarding all of your Real Estate needs!

Bart Basinski 2015
Bart Basinski

Bart Basinski

(708)277-9229

bartbaz@kw.com

Serving Chicagoland & Suburban Illinois

www.BAZrealtynetwork.com

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Home Sales Jump More Than 11 Percent in West,South Suburbs

Home Sales Jump More Than 11 Percent in West,South Suburbs

Sales of single-family detached homes went up 11.6 percent in July compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), indicating the second consecutive monthly increase.

MORe measured activity on homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC. Last month’s data also showed a 1 percent increase in home sales.

“I think we’re seeing a combination of very reasonably priced houses on the market and a built-up number of buyers who recognize now is a good time to take advantage of a large inventory and low pricing,” said Christine Chase, Secretary/Treasurer of MORe, and a REALTOR® with Ryan Hill Realty, LLC in Naperville. “The sale increases indicate the federal and local incentives for first-time homebuyers are working; and with a fast-approaching deadline for the federal incentive program, people really need to act rapidly.” Continue reading “Home Sales Jump More Than 11 Percent in West,South Suburbs”

Home Sales Show Year-to-Year Increase in West, South Suburbs

Home Sales Show Year-to-Year Increase in West, South Suburbs
TINLEY PARK, IL – Sales of single-family detached homes went up 1 percent in June compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), the first such increase since December 2006.

MORe measured activity on single-family detached homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC.

In addition, the number of homes under contract (but not yet closed) in the same West and South Suburban Chicago area was 40 percent higher than a year ago, the seventh consecutive month of year-to-year growth in pending sales.

“Many first-time home buyers are taking advantage of the $8,000 federal tax credit. This is helping to reduce the inventory of homes on the market,” said Mike Drews, president-elect of MORe, and a REALTOR® with Charles Doss, REALTORS®, in the Aurora and Oswego areas. “First-time buyers can receive the tax credit if their home purchase closes by December 1st, so to take advantage of that credit, they really need to have a home under contract by October 1st.” Continue reading “Home Sales Show Year-to-Year Increase in West, South Suburbs”

Short Sales – What’s with them?

Let’s start with the first question that most people have, “What is a Short Sale?”  A short is essentially just what it sounds like, the seller is “short” of what they owe their lienholder in the “sale” of their property.

Why would a homeowner want to do a short sale on their property and secondly, why would a lender want to accept less than what is owed?

Short sales are not for everyone. And contrary to popular belief, just because you owe more than what you could sell your property for under current market conditions and want to sell does not mean that a short sale would be a reasonable answer.  In order for a lender to consider a short sale, the homeowner must have been faced with some sort of hardship or mitigating factors.  Instances which might qualify as a hardship are divorce, illness, death of a spouse or child, job loss, or in some instances a mortgage in which the interest rate is scheduled to adjust up.  Basically, the ability of the homeowner to continue to make regular monthly mortgage payments is no longer feasible.  From the homeowner’s point of view the short sale is not as devastating as a foreclosure with regard to both their credit report and emotional health.  From the lenders point of view the short sale alleviates the time and money for legal fees, the foreclosure process, and eviction, in addition to possible damage to the property from a distressed homeowner. Often times, the loss realized from the short sale could be much less than any profit realized after these factors.  You should, of course, consult with your attorney to determine if a short sale makes sense for your situation.

Why would a buyer want to buy a property listed as a short sale and what is the process?

In many instances a buyer could catch a bargain or gain instant equity in purchasing a property that is listed as a short sale, but they must make sure to do their homework first.  If you are not familiar with market values in the area of the property you are looking to purchase the short sale, have your Realtor provide you with a “buyers CMA (Market Analysis)” to determine if you are making a good investment decision.  You should also consider how long you are looking to keep the property and if you are going to occupy the property or use it for investment. If you are looking for a quick close on your purchase, then a short sale is definitely not for you.  The amount of time it takes to close or even the amount of time it takes to find out if your offer has been accepted or rejected by the bank can vary significantly.  It is not unusual to wait 90 days or longer for a response from the seller’s lender.  It is also important to know that your short sale will almost always be an “as – is” purchase, since the lienholder will be reluctant to negotiate once they have issued an approval.  If they are willing to do so, you could be back to square one waiting another 90 plus days.  The general rule of thumb is that if you have plenty of time to work with and are looking to get a bargain then a short sale might work for you.

What other things should I be aware of regarding purchasing a short sale property and what will increase my chances of having the offer accepted? 

There have been instances in which some lenders have accepted short sale purchase contracts on a property in shorter periods of time.  I personally had one lender approve and close a sale in less than 30 days. This, however, is not the norm.  It is also important that the listing agent or sellers attorney has provided the all of the requested documents to the lienholder for them to process the short sale. Each lienholder has a different procedure and time frame which they follow.  Generally, the lienholder will request all of the following before making a determination:  the executed purchase contract, the listing agreement, market time and property price history report, hardship letter, last two months bank statements, last two check stubs, and last two years tax returns.  Once these documents have been received the lienholder assigns the short sale to a “negotiator” who will evaluate the package and at this point often orders an appraisal or BPO (broker price opinion) of the property.  Having a properly prepared and organized short sale package sent to the lienholder increases the chances of success.  It is also important to note that in most instances a property that has had a significant drop in price below market value without incremental price reductions over an extend time on the market, may very likely be rejected by the lender.

If I am buying a short sale property, when should I apply for my loan and can I still have a home inspection? 

When purchasing a property listed as a short sale, a buyer should be aware that once the short sale has been approved the lienholder will want to close relatively quickly.  I recommend that buyers formally complete their loan application and have their mortgage company completely approve them subject only to title and appraisal.  It is not a good idea to allow your mortgage company to order your appraisal in advance of the approval from the seller’s lienholder, or you might be stuck paying for an appraisal on a property you cannot buy.  A home inspection is always recommended, even when you are purchasing a property as-is.  The home inspection could reveal major structural defects, making your bargain purchase not such a bargain.  It is well worth the few hundred bucks for the home inspection, when you are going to be investing several thousand dollars.

Whether you are a Realtor, Buyer or Seller you should educate and familiarize yourself with the short sale process.  With all of the changes in the economy and housing market, “short sales” will be a predominant part of the real estate market for quite some time to come.

Colleen & Bart Basinski

Thanks for reading our Tinley Park  Real Estate Blog!
Posted By: Colleen Basinki – Tinley Park Real Estate Agent – Team Baz
TeamBaz is a super team of Keller Williams Preferred Realty
specializing in
Tinley Park Real Estateand Chicago Suburban Real Estate
(708) 808-0229

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