Peak House Prices ..when will they return?

Thought this was a very interesting article from Diana Golobay....

Peak House Prices Will Return to Sand States after 2025: Fiserv

by DIANA GOLOBAY

Housing markets that experienced the greatest inflation in house prices — including certain metro areas in sand states California, Florida, Arizona and Nevada — will not see a return of peak-level home prices before 2025, according to financial services technology provider Fiserv.
According to the Fiserv Case-Shiller indices measuring historical home price data and forecasts for more than 375 local markets, scattered metropolitan areas could recover home prices before 2013 (highlighted below, in blue):

“Nationally, Fiserv Case-Shiller data points to a further 7% decline in home prices through the end of this year, with a prolonged recovery beginning early in 2011. In many markets, the emphasis is on the word ‘prolonged,’” said Fiserv chief economist David Stiff in a statement this week.
Other factors besides a run-up in house prices are dragging down recovery times in the industrial Midwest — including Michigan, Indiana and Ohio — where steep job losses in the manufacturing sector could keep housing demand low for some time.
But the data is not “uniformly grim” across all states, Stiff added.
A number of trends have defined initial signs of recovery in the housing market in recent months, including rising home sales. In particular, Pittsburgh, PA; Columbia, SC; and several metropolitan areas in Texas, Washington and upstate New York could see peak-level prices return within the next few years.

Remember "knowledge" is power! And I am here to help you make the right real estate decisions for you!

Latest Foreclosure News..I can help!

News from Realty Trac:
Top 10 Foreclosure Metro Areas February 2010 - Total Properties With Foreclosure Filings


1.Miami-Fort Lauderdale FL 19,033

2.Los Angeles-Long Beach, CA 18,118

3.Chicago-Naperville, IL 16,186

4.Phoenix-Mesa, AZ 13,830

5.Riverside-San Bernardino, CA 12,840

6.Detroit-Warren MI 12,078

7.Atlanta-Sandy Springs, GA 9,096

8.Las Vegas-Paradise 9,012

9.Orlando-Kissimmee, FL 6,823

10.Tampa-St Petersburg, FL 6,681

According to Realty Trac, Foreclosure filings-default notices, scheduled auctions and bank repossesssions were 2% lower than previous month but still 6% higher than reported in Feburary 2009. 1 in 418 US hones recieved foreclosure filing. Though is is the smallest increase since January 2006.

Remember, if you have any questions regarding purchasing a foreclosure or short sale or if you know anyone that might be late on their payments and possibly facing losing their home...I am here to help. I am a Certified Distressed Property Expert as well as an Shortsale Foreclosure Resource.

The Harder I Work The Luckier I Get!!!

I don't need the "Luck of the Irish" to help you with your Real Estate needs...and that's "No Blarney"
Here a few of my favorite Irish Blessings and Sayings:

May you always have
Walls for the winds,          
A roof for the rain,
Tea beside the fire,
Laughter to cheer you,
Those you love near you,
And all your heart might desire!

May you be in
Heaven a half hour before the
Devil knows you're dead!

When Irish eyes are smiling,
Tis like a morn in spring.
With a lilt of Irish laughter
You can hear the angels sing
When Irish hearts are happy
All the world is bright and gay
When Irish eyes are smiling
Sure, they steal your heart away.

May your blessings outnumber
The shamrocks that grow,
And may trouble avoid you
Wherever you go.

There are many good reasons for drinking,
One has just entered my head.
If a man doesn't drink when he's living,
How in the hell can he drink when he's dead?

May the best day of your past
Be the worst day of your future.

I'm looking over a four leaf clover
That I overlooked before
One leaf is sunshine, the second is rain,
Third is the roses that grow in the lane.
No need explaining the one remaining
Is somebody I adore.
I'm looking over a four leaf clover
That I overlooked before.

May you live to be a hundred years
With one extra year to repent.

May those who love us, love us
And those who don't love us,
May God turn their hearts
And if he can't turn their hearts,
May he turn their ankles
So we will know them by their limping!

As you slide down the banister of life,
May the splinters never point in the wrong direction!

May luck be our companion
May friends stand by our side
May history remind us all
Of Ireland's faith and pride.
May God bless us with happiness
May love and faith abide.

Leprechauns, castles, good luck and laughter
Lullabies, dreams, and love ever after.
Poems and songs with pipes and drums
A thousand welcomes when anyone comes.
That's the Irish for you!

There's a dear little plant that grows in our isle,
'Twas St. Patrick himself, sure, that sets it;
And the sun of his labor with pleasure did smile,
And with dew from his eye often wet it.
It grows through the bog, through the brake, through the mireland,
And they call it the dear little Shamrock of Ireland.

May your neighbors respect you,
Troubles neglect you,
The angels protect you,
And Heaven accept you.

May you have:
A world of wishes at your command
God and his angels close at hand
Friends and family their love impart,
And Irish blessings in you heart.

May God grant you many years to live,
For sure he must be knowing
The earth has angels all to few
And Heaven is overflowing.

These things I warmly wish to you-
Someone to love
Some work to do
A bit o' sun
A bit o' cheer
And a guardian angel always near.

Here's to a long life and a merry one
A quick death and an easy one
A pretty girl and an honest one
A cold beer and another one!

May your pockets be heavy and your heart be light,
May good luck pursue you each morning and night,

O Ireland isn't it grand you look
like a bride in her rich adornin?
And with all the pent up love of my heart
I bid you the top o' the mornin!


May the lilt of lush laughter lighten ever road,
May the midst of Irish magic shorten every road.
May you taste the sweetest pleasures
that fortune ever bestowed,
And may all your friends remember
all the favors you are owed.

Go mbeannai Dia duit
(May God Bless You)

May your home always be too small to hold all your friends.
God is good, but never dance in a small boat.

May you live as long as you want,
And never want as long as you live.

If you're enough lucky to be Irish...
You're lucky enough!

My wild Irish rose
The sweetest flower that grows
You may search everywhere
But none can compare to my wild Irish rose
My wild Irish rose
The sweetest flower that grows
Someday for my sake she may let me take
A bloom from my wild Irish rose

'Tis better to buy a small bouquet
And give to your friend this very day,
Than a bushel of roses white and red
To lay on his coffin after he's dead.

For each petal on the shamrock
This brings a wish your way-
Good health, good luck, and happiness
For today and every day.

And remember...Everybody is Irish on St. Paddy's Day!
See you at McGonigal's in Barrington (105 S Cook Street)?!!
Cheers!

Spring Break or Spring Broke???

Just remembering the days of taking the kids on Spring Break. I would be exhasted before we left the house.
I would start to pack and realize the girls had grown over the winter..thus spring clothes would have to be purchased..except of course for the littlest one..oh hand me downs weren't so bad! Except if they were in pink..pink was not and still is not her color! Then off we went...always happy to be heading somewhere warm and a change of pace from Barrington!
Now, the thought of packing up the family is a distant memory...sports, jobs and the price of airline tickets have changed the way we think of spring broke..I mean spring break!

PS..if you are heading somewhere for Spring Break and find a fabulous condo or home you would like to purchase..STOP..call me and I will find you the best agent in the area to help you make a smart decision!

What is a short sale?

I am not going to mince words in my blog today...DO NOT WALK AWAY FROM YOUR HOME!
Yes, we are all feeling the pinch of this economy and many of us have had a "change" in our circumstances--from losing a job,health issues,divorce, a fluctuating mortgage and/or the inability to refinance... just to mention a few.
There are ways to work out a settlement with the bank/mortgage holder.
Currently in Barrington , there are 151 homes (about 50 is vacant land) that have missed payments on their mortgage. 17 are going through the auction process and 41 are bank owned.
Most of these properties are not even on the market! Please if you or someone you know has missed a payment or will be soon..Let's talk about the possibility of  a "short sale"
A short sale is when you sell your home for less than is owed on the mortgage.
I have been awarded a Certified Distressed Property Expert Designation as well as an SFR..Shortsale Foreclosure Resource. You know how I feel about Knowledge...it is Power!!!
Remember, I am here to help!
Cheers,

Living Large in a Small(er) Home...

After years of super-sizing, Americans are looking for more modest living spaces.

Baby Boomers are now becoming “empty nesters” and are looking for simplification in their lives and downsizing fits the bill to a “T”!  Young adults are keen on leaving less of a “footprint” and women lead the way in head of household homes that are being purchased. With the average home size declining, owners are being more creative with the square footage they have or will purchase.

Baby boomers are retiring, young adults are delaying marriage and the economy is still sputtering along. Although the average square footage of a new house is still double what it was in 1960, in the last year, it decreased slightly to 2,215 square feet from a high of 2,277 square feet in 2008, according to data from the U.S. Census Bureau.

Smaller houses require owners to rethink what they have and how they use things.

Often I have to work with my clients on “placing” furniture as we walk thru a prospective home and it can become a sticking point if “grandma’s dining room table won’t fit. I have also seen clients walk away from a gorgeous new home because the T.V wouldn’t be able to sit front and center!

This is where my staging expert comes in…

Mary Kalesz of McKenna and Me is a certified staging and redesign expert that has been helping clients re size their lives. Mary can help rearrange their furniture to maximize floor space, reuse and re-purpose ….  Mary understands that the average size of a new home has decreased for the 1^st time in nearly 30 years. Also, Mary works with me to help you get your home ready to sell!

Mary says “If you wanted to move into a certain neighborhood 40 years ago, you'd only have one or two homes to choose from. Now you've got six homes on a block. People need to take that extra step. Staging will preserve more of the purchase price. And that's what people need to do - all that they can to increase the perceived value of their home ".

Here is a list of a few of Mary’s comprehensive services:

Home Staging and curb appeal consulting, de-cluttering and re-organizing, wall color and  lighting schemes,inspired room configurations,window treatments, and attention grabbing finishing accents.You can contact Mary at 847-209-3221 or email her at mcandmedesign@sbcglobal.net. Check out  Mary's website

Remember..I am here to help!

Cheers!

Once upon a time in a far away land...

Ok..don't hate me because I was able to leave the frigid temps in Barrington,Il for the island paradise of Koh Samui, Thailand. WOW! Am I lucky or what!!  We really enjoyed ourselves and meeting the wonderful Thai people..but there is no place like home!  My father always would say "take your time going..but hurry home!"
http://www.youtube.com/my_videos