Loan Score

500-579 … 10% down!

580-579 … 5% down!

Down payment cannot be a gift.

For more information, contact Beth Lewis at Perl Mortgage:
BLewis@PerlMortgage.com

Based on a recent nationwide survey, HomeGain sites the following items as being the best return on investment under $5,000, for homesellers:

1. Cleaning and de-cluttering – ($290 cost / $1,990 price increase / 586% ROI)
2. Lightening and brightening – ($375 cost / $1,550 price increase / 313% ROI)
3. Home staging – ($550 cost / $2,194 price increase / 299% ROI)
4. Landscaping – ($540 cost / $1,932 price increase / 258% ROI)
5. Repairing electrical or plumbing – ($535 cost / $1,505 price increase / 181% ROI)

Cleaning and de-cluttering continues to rank as the top suggested home improvement, on average costing less than $300 and returning a value of nearly $2,000 to the home’s sale price, or a 586% return on investment.

Homes that have initial appeal have a better shot at selling faster and closer to the asking price than homes rushed to the market without  preparation.

Rounding out the top 10 low cost, do-it-yourself home improvements includes: updating electrical systems and/or plumbing, updating the kitchen and bathrooms, replacing or shampooing carpets, painting interior walls, repairing damaged floors, and painting the outside of the home.

If you have questions about getting your home ready to sell or would an evaluation of your home’s market value call me at 847-570-9911 or send me an email

Shakes, burgers, specialty fries.   It’s not fancy, you’re likely to wait in line – and it could be a long one at prime lunch time, but it’s worth it.

Edzo’s is located at 1571 Sherman in Evanston.  Check their hours at http://edzos.com/

What I do believe is, in our marketplace, Evanston and the North Shore, we should see a steady increase in market activity (number of units sold) with continued low interest rates. As a survivor of the wild rate climbs of the early 1980’s, I may have a different perspective on what low rates are. But I remember the rush to refinance when rates came down to twelve per-cent!

The Home Valuation Code of Conduct (HVCC) came into being May 1, 2009 requires the loan production staff not to be involved in ordering the appraisal. Those authorized to do so, call their list of appraisers in a rotational method. The lenders are not allowed to speak with the appraisers. So, as a result we’ve seen appraisers from Frankfurt, Elgin and Aurora appraising properties on the North Shore. This has caused a real problem. All real estate is local, each market is different. The best appraiser is a local expert. The appraisal scene is slowly improving. Lenders have begun to make mortgage money more available and fewer appraisals are coming in under agreed-upon contract sale prices.

It appears as though the worst is over for prices and should stabilize at what I think of, as about 2002 – 2003 ranges. While residential real estate may not be (at least temporarily) the ever-increasing investment opportunity it once was, a home is still a basic need. Growing or shrinking families, retirement, or a new job, are just some of the life changes, causing us to make a move.

If your plans in 2011 include making a real estate move and you need experienced, helpful advice, give me a call.

Let us know if you would like a copy of any of the pictures.

The local real estate market in Evanston, Wilmette, Skokie and Rogers Park is showing signs of improvement in most cases. The first 10 months of the year compared to the same period last year:

Evanston single family sales up 22%

Wilmette single family sales up 23%

Skokie single family sales down 3%

West Rogers Park single family sales up 3%

Tomorrow I will publish the statistics for Condos and other Multi-family homes which are even more impressive and up a minimum of 17%.

If you want to take advantage of the the great buys and interest rates available either call me at 847-570-9911 or vist my website.

If you haven’t already done so, it’s a good time to contact your existing lender for an Obama Plan – streamline refinance.  It’s pretty painless and may save you some dough.  Call the current lender of your property to see if it’s available to you.

Shopping to refinance with other lenders recently has not proven to be as productive, since the new lender will require an appraisal and employ appraisers, often-times from outside the market area of the property.  No kidding.

The chart above will give you a general idea of current rates but note rates and terms vary from lender to lender.

If you need help or suggestions for finding financing in the Evanston area, we work with several different lenders who are familiar with Evanston and the surrounding communities. Call me at 847-570-9911.