Rob Gow - Real Estate and Shoreline Lifestyle

Wednesday, November 9, 2011

Avoid These 4 Mortgage Mistakes When Buying Your Chicago Home!

Buying a home in Chicago can be a really exciting time, however it’s also a large financial decision. Currently, the Chicago Real Estate market is filled with a wide variety of homes from which to choose and, with the market leaning in the favor of buyer’s, many people are finding the confidence to jump into the home buying process.

If you’re one who’s considering buying a Chicago home, it is important to remember that lenders have tightened the reigns on who qualifies for a home loan. While you may have great credit, there are a few mistakes you’ll want to be sure to avoid in order to secure your home loan. As the Shoreline Property Advisors team, we thought we’d point out four mortgage mistakes that you may not even consider when buying a Chicago home. Take a look!

1. Avoid any major purchases before closing your mortgage loan- Just because you have your mortgage approved and lined up doesn’t mean the deal is done. Banks are not afraid to pull out of the deal if they see the homebuyer makes a significant purchase such as a car or another major buy. They see this as a sign of further debt for the homebuyer and are nervous about the potential risks if the buyer can’t come up with the money. To be safe, avoid any major purchases until after your signed the contract on your Chicago home. This goes for cash purchases as well since banks will look at your cash reserve before you get approved for a loan.

2. Don’t make any big career changes- While this may be the reason you’re searching for a Chicago home, it’s better to avoid any career changes during the home buying process. Banks want to know that your financials are stable. If there is a career change pending, try to delay it until after you’ve bought the home. Or, delay the home purchase if at all possible until you can show that your new job is given you the financial resources to pay on your new home.

3. Prepare for a last-minute credit check- This may come as a surprise to some, but with Fannie Mae’s loan quality initiative that came out in June of this year, lenders are likely to do a second credit check right before you close. Make sure that you keep up with your credit card payments and avoid applying for a new credit card during the home buying process as they may see this as a sign of desperation and can call for another credit score check, which could hurt your credit score.

4. Watch out for closing-cost surprises- Avoid putting all of your money into the down payment as you’ll need cash for closing costs. Don’t be caught off guard! At times, closing costs can be as much as 3% of the home price, so be sure to keep this in mind and set enough aside.

We hope being aware of these four mistakes will help you avoid them and allow you to have a smooth home buying experience in Chicago! Our team of trusted advisors and Prudential Rubloff real estate agents are here to help and will provide you with the up-to-date Chicago Real Estate market information you need to know!

If you’re considering buying a home in Chicago, but have questions or have not yet found a Chicago Real Estate agent; please feel free to contact us. We would enjoy working with you and helping you through the entire home buying process.

Shoreline Property Advisors

@ Prudential Rubloff

Wednesday, November 2, 2011

An Old Thyme New Buffalo Favorite Seeks to Carry on it's Tradition of Quality and Charm!

As the Shoreline Property Advisors Team, we enjoy working with people and various businesses along Lake Michigan’s Shoreline. We get excited about new opportunities that come our way as we have the chance to showcase what we do best! We also love interacting within the communities in which we serve whether it’s Chicago’s North Shore, the Indiana Shoreline or Harbor Country Michigan.

We wanted to share with you a new client marketing engagement that the Shoreline Property Advisors Team is undertaking. It’s a project we’re really looking forward to using our expertise to help one of our loyal clients find a new owner for her thriving business.

Whether it’s stopping in for an afternoon cup of joe, or a chance to find unique gifts; Michigan Thyme Cafe & Shops has been a welcoming encounter for anyone visiting or living in New Buffalo, Michigan along the shores of Harbor Country. This charming cafe and shops is a favorite of the many vacationers to Harbor Country and New Buffalo, as well as locals who enjoy browsing the Michigan Thyme shops for specialty food products, gifts, fine home accents and clothes for men and women. Since 1994, Michigan Thyme has been expertly owned and operated by Janet Clark whose dream was to create an environment “dedicated to simple pleasures of wholesome and gracious living, celebrating the beauty of life” as her mission statement reflects.

Janet Clark has not only been dedicated to the success and growth of Michigan Thyme and the New Buffalo community, but she’s also highly dedicated to her family and the rewards of grand-parenting. Janet truly values spending time with the ones she loves, it’s on this note that she has entrusted our team here at Shoreline Property Advisors to successfully sell her delightful store.

We are more than honored to be given this responsibility and are looking forward to finding the right buyer who will carry on this New Buffalo tradition! As Clark noted, “This is a time to celebrate a job well done by all and to look forward to attracting a new owner for Michigan Thyme who will most certainly take the Cafe and Shops, and the Michigan Thyme brand to the next level.”

It’s endeavors like these that we, here at Shoreline Property Advisors, take on with great pride and exuberance as we have the opportunity to interact more fully within the community! We wish nothing but the best for Michigan Thyme and are excited to see it’s continued success in the future.

As always, we’re here to help in any way we can! If you have questions about the New Buffalo Real Estate market or are ready to buy or sell your home; we’d enjoy the opportunity to talk with you!

Feel free to contact us anytime!

Shoreline Property Advisors

@ Prudential Rubloff

Wednesday, October 26, 2011

6 Tips for a Successful Open House for Your Evanston Home!

Selling your home this fall in Evanston may seem daunting as the current market is leaning in the favor of buyers. However, selling your home is not impossible! Our team of Prudential Rubloff Evanston Real Estate agents on our Shoreline Property Advisors team have helped many sellers navigate their way through the home selling process in a timely and efficient manner and their efforts have been met with the greatest success!

As a seller, your first step is to find a trusted Evanston Real Estate agent as they will be your greatest resource and advocate for getting the return on investment you’re hoping for. However, we understand that sellers also want to play a role in selling their home and we are often asked what are some of the best ways they can help “sell” their home.

Besides making sure your Evanston home is in top condition and move-in ready, the open house can be a vital factor in getting your home sold. Buyers want to see the home in person so they can get a better sense of the home and how they would fit in the home. Having a stellar open house can make a great impression on buyers and will help make your home even more desirable. Below are six key things you can do to ensure a successful open house!

1. First Impressions- Believe it or not, a nice doormat or attractive porch can really set the tone for the entire open house. If there’s an old doormat, chipped paint or nothing special about the entrance to your home, buyers may feel that you don’t really care. A welcoming setting from the start will instantly let buyers know that your home is cared for and that each area of your home is well-maintained.

2. Make it Generic- It’s great to make your home personal; however your pictures, children’s art or your “to do” list on the refrigerator can be a large distraction to potential buyers. They need to be able to envision themselves in your home, so putting away those personal items will help buyers picture their life in your Evanston home.

3. Clear Counters- Look at your kitchen or bathroom counters from a outsiders viewpoint. Do you have too many appliances cluttering your kitchen counter? Clearing this space will give the appearance of more room for cooking or their own storage. If your bathroom counters are filled with perfumes, toothbrush holders, etc… take time to put them in cabinets or drawers so buyers can see the actual size of the space.

4. Set the Table- This may not seem necessary, but having your dining room table set with nice place settings add a touch of class and can help the Evanston buyer envision hosting their own dinner parties.

5. Get to the Heart- The best way to appeal to the buyers’ heart is through offering something special when they walk in the door. Whether you bake fresh cookies, have coffee or hot chocolate for them on your counter, these added touches will set your home apart. Lighting a mildly scented candle and having your home appropriately heated for the day’s weather can make your home instantly feel comfortable to the Evanston buyer.

6. Don’t Stick Around- While it may be tempting to want to hear what the potential buyers have to say, it can be awkward when the seller is present. They will feel that they can’t openly express their thoughts to the agent and will not feel as comfortable when looking throughout the home. Even if you take a walk through the neighborhood, being away from the home during an open house can make all the difference.

If your Evanston home is already listed on the Evanston Real Estate market, we hope these tips will help your next open house be your last!

Still considering selling your Evanston home this fall? Feel free to contact us! We’d enjoy the opportunity to answer any questions you have about the Evanston Real Estate market and to help you get your Evanston home sold!

Shoreline Property Advisors

@ Prudential Rubloff