Chicago Suburb Real Estate & Area Guide

FHA has once again removed the ability to do an FHA spot approval on condominium purchases.  They seem to have gone back and forth over the past year.  They took it away, brought it back and took it away again.

Here is one of the excerpts from a 2009 Mortgagee Letter from the Department of Housing and Urban Development:

"“Spot Loan” Approval Process
Mortgagee Letter 2009-46B eliminated the Spot Loan Approval Process as defined in Mortgagee Letter 1996-41 for all FHA case number assignments effective on or after December 7, 2009. However, to address concerns involving the volatility in the condominium market, the new effective date for the elimination of this practice is for all FHA case number assignments on or after February 1, 2010. FHA may perform additional monitoring to ensure compliance with the “Spot Loan” Approval Process."

That is just one tiny little paragraph in a lengthy letter regarding FHA changes for condominium purchases.  It would be difficult to write all of the new changes for FHA loans in condos, but suffice it to say that it will be difficult to get an FHA loan on a condo that is located in a complex that is not already approved for FHA financing.

To attempt to get an entire complex approved for FHA financing will now be a very lengthy and arduous process.  Another new rule states that even if a condo complex gets FHA approval, only 30% of units will be eligible for FHA financing.  On a small complex it’s almost not worth it.  For example, in a complex of 10 units, only 3 would be eligible for FHA financing.  Small complexes will not want to spend the money required for FHA approval nor the paperwork and time necessary to get approval.

I have a beautiful condo listed at 18001 S. Oak Park Ave., Tinley Park IL  60477.  The seller purchased the unit with FHA financing by getting FHA spot approval for the unit.  He didn’t understand why I could not promote his Tinley Park condo as FHA approved.  I did a lot of investigating and I found out that with his association, it would have been almost impossible to do on his unit.  

The interesting thing is that his large complex has multiple associations and some buildings were able to do spot approvals as they were willing to comply with FHA rules.  His association made it difficult.  Now none of those units will be FHA approved unless each association goes through the rigors of getting approved.  I can’t see that happening.

I just had a buyer that insisted we only view true townhomes because she would have to put down more money if she purchased a condominium.  Many mortgage companies consider condominiums a financial risk and they are tightening lending on them.  This does not bode well for condominum owners.  It will be more difficult to sell and for truly motivated condo sellers, prices will continue to decrease.

It’s statistics time to see how different southwest suburbs have fared over these tumultuous years.  The first chart is for Oak Lawn homes for sale and the second chart is for all attached Oak Lawn properties.

Detached Oak Lawn Homes Sales Statistics 2008-2009

As you can see, the number of Oak Lawn homes sold has increased and has the highest amount of homes sold comparing the 3 top southwest suburbs reflecting most homes sold (Oak Lawn, Orland Park and Tinley Park).  That’s the good news, but as you can see, prices have dropped 17.1%.  Ouch!  Average prices of Oak Lawn homes is back in the $100,000 range, high $100’s, but no longer in the $200’s as has been experienced for many years.  These are simply the facts and many sellers will be discouraged by this, although buyers will rejoice.

 Oak Lawn Condos and Townhomes Sales Statistics 2008-2009

The MLS compiles data combining any attached property such as Oak Lawn condos, townhomes or duplexes.

As expected, we are seeing drops in units sold and prices for all Oak Lawn condos and townhomes.  And they are double digit decreases.  There have been price decreases since 2007.  When will it stop?  Have we hit bottom?  I cannot tell you that since I do not have a crystal ball.

With expectations of higher interest rates, prices might have to continue to drop in order to get properties sold.  It is my belief that the price boom we experienced was not able to sustain itself.  Prices were increasing disproportionately to earnings.  The market continues to correct itself.

If you’re in the market to buy or sell an Oak Lawn property or any other southwest suburb, please fill out the Automated Home Finder Form and/or Internet Market Value Form. 

I have been on Facebook for quite some time.  My friends range from family, actual friends (some that I’ve grown up with), clients and other real estate related people.  I don’t post a lot but I’ve discovered a new item that will automatically send my Twitter Tweets to Facebook and my LinkedIn account called Hootlet which makes it much easier.  

If you’d like to join me on Facebook then go to my Facebook Badge on my sidebar to the right.  

I just started a Twitter account and I still don’t understand what all the interest is.  I can’t keep up with all the tweets and prefer the Facebook experience much better.  But if you’d like to follow me go to my Twitter button to the right.

And if you’d just like to start searching for a new home fill out my Home Finder Form or you can start out with an MLS search.  Get your Facebook & Twitter buttons by clicking the link. 

This is the 2nd of 3 posts regarding survey results from IAR (Illinois Association of REALTORS).  The question asked was "In choosing your most recent home, other than price, which of the following was most important in deciding where you would buy?"

Like my first post about What Services Buyers Felt Were Most Helpful, I will add my comments in blue after each result.

IAR HOMEBUYER BENCHMARK 2009
ALL RECENT HOMEBUYERS | n=1000, Margin of Error= 3.09%

PROXIMITY TO YOUR WORK ……………………………………………………..22.8%

I am not surprised at this at all since I’ve always hated doing a daily commute, especially if it’s far.  My first real job was working in an office downtown and I hated wasting so much time driving to the train station and the train ride.  I love trains and I did a lot of reading and even got into crocheting, but I hated the daily drudge of commuting.

However, most people accept that the commute is a part of life and there are many buyers who want to be near a train because they work downtown Chicago.  I also get couples that settle on a mid-area between jobs in two different directions. 

QUALITY OF SCHOOLS NEAR THE HOME …………………………………. 19.9%

I do get a lot of buyers with children that are definitely interested in an area because of the schools.  Most of them already know which schools they prefer but I do sometimes get inquiries on what is the best school system?  I cannot give my opinion on that (read my post here) so I refer them to a website like Great Schools.

PROXIMITY TO FAMILY OR FRIENDS…………………………………………. 18.6%

Although most buyers don’t cite this as a reason, it is reasonable to expect that many buyers don’t want to live too far away from parents and siblings, if possible.  Many buyers that state this is a primary concern have parents that babysit and need to be close enough to drop their children off and pick them up.  Other buyers want to live near an elderly parent to offer help when needed.

To me, this figure is higher than what I see, or maybe most buyers don’t mention that fact to me when they tell me the towns they want to live in.  Many years ago my Mom invited me to move to Arizona.  I declined because all of my friends were here - but at the time I had no interest in Arizona.  Now we own a Scottsdale, AZ townhouse and would love to move there full-time, although I’d miss my grandchildren too much.  So we’ll always keep a place here - I think!

SAFETY AND SECURITY OF THE NEIGHBORHOOD……………………. 16.8%

I think for most people this is a given.  Everyone wants to live in a safe neighborhood if they can afford it.  Again, I get asked this a lot and I have to refer buyers to statistics so they can make their own choice of what they consider a safe area to be.  I cannot offer my personal opinion.

In fact, I think this is such a reasonable expectation that this choice skewed the results.  This is probably every buyer’s most important desire when searching for a home.  The largest response was a home close to their work, but if they deemed the area closest to their job unsafe they would search for an area acceptable in distance to their work place that they considered a safe neighborhood.

PROXIMITY TO PUBLIC TRANSPORTATION…………………………………. 8.5%

I do get this request from time to time.  Many people who take the train to work prefer to be able to walk to the train depot instead of having to drive and park.  I’ll also get the request from senior citizens that no longer drive that want to be very close to a bus stop.  That is why many properties listed in the MLS state that they are close to public transportation.

PROXIMITY TO GROCERIES, SHOPPING AND RESTAURANTS……… 5.3%

This one is interesting to me because as much of a city girl I am and I love my current location where I can walk across the street to the grocery store, this would not be my first criteria for buying a home.  It’s nice (to my husband and I) to be close enough to a popular franchise restaurant that we could actually take the pager home with us, but it would not be our major choice of consideration in buying a home.  However, it was to 5.3% of respondents!

PROPERTY TAX RATE WHERE THE HOME IS LOCATED……………….. 3.6%

This one surprises me since it’s so low.  Buyers mention areas based on perceived taxes all the time.  Sometimes I have to dispute their thoughts that one village has so much higher taxes than another.  I have to show them listings to prove to them that taxes are no higher in village A than village B.  I guess I figured this would at least be more important than being close to shopping and dining.

UNSURE/REFUSED [DO NOT READ]…………………………………………… 4.6%

If you’re interested in purchasing a property in the southwest suburbs such as an Oak Lawn home for sale, give me a call at 708-536-8200.  Remember, you can search the MLS from my website to get a feel for areas and prices.

I recently read an interesting article from the IAR (Illinois Assoication of REALTORS).  I have added a couple of the survey responses that I thought were pertinent.  This is the first in a 3-part series I’ll be posting.

The survey results below are from the IAR Homebuyer Benchmark 2009 and comprises recent homebuyers with a 3.09% margin of error.  My thoughts are written below the results in blue ink.

The survey question was: "Which one of these services did you find most helpful in your home buying?"

WORKING WITH A REALTOR® ………………………………… 54.6%
I would have hoped "working with a REALTOR" would have been higher than 54.6%, but it is the highest number, so that’s good.  Of course, unless a buyer purchased a For Sale By Owner (FSBO), I’m assuming more than 54.6% actually used a REALTOR or agent to purchase their home.  Maybe some weren’t happy with their agent so did not feel that their agent was the "most helpful service" in buying a home.

SEARCHING THE INTERNET ……………………………………. 25.3%
The small number of 25.3% answering that the Internet was the most helpful service might make sellers think that the high numbers we’re giving them of 85% or more buyers searching the Internet as being incorrect.  But keep in mind, that was the number of buyers that felt their Internet search was the most helpful service.  Many Internet searchers end up using a real estate agent and might have voted for that as being the most helpful service.

LOOKING IN THE NEWSPAPER …………………………………. 2.0%
I’m actually surprised at the high percentage of 2% of buyers that actually chose the newspaper as being the best service available to help them buy a home.  Again, I realize that not everyone uses the Internet, but I expected this number to be smaller.  Even if a non-Internet user searched newspapers for their home purchase, I cannot imagine that anyone would choose this as the most helpful service at all.  These might have been buyers that purchased a FSBO through the paper.  Which shows you why newspaper advertising doesn’t work very well and why around 90% of FSBO’s end up listing with a REALTOR.  Newspapers might have worked for a small percentage of buyers, but many in the industry are ending their relationships with newspaper advertising because it doesn’t work well enough and isn’t worth the high costs involved.

DRIVING AROUND THE AREA………………………………….. 10.8%
I’m also surprised at the high response rate of 10.8% for driving around an area as being cited as the most helpful service!  In my opinion, it is not a service at all.  We know that there are many sellers that don’t use For Sale signs and many condo/townhome associations don’t allow them.  I currently have a Tinley Park condo for sale that I cannot use any kind of sign located at 18001 S. Oak Park Ave.  With the price of gas today, driving around trying to find a For Sale sign is a waste of time, money and resources.  A buyer cannot tell the price of a home, how many bedrooms it has or other information unless there is a brochure box with brochures in it or some kind of 800-number.  Unless you really have nothing better to do and are interested in a very specific area, I cannot imagine that this would be chosen by many buyers as one of the most helpful services in their home buying transaction.

HOMES MAGAZINE…………………………………………………… 0.5%
Another surprise was the very low percentage (0.5%) for homes magazines.  I honestly thought these magazines did a better job than newspapers, although print advertising is a very low response marketing technique today, which is why less and less agents and brokers utilize either.  They are very high priced for the little to no response generated.

If you’re interested in purchasing a home, I would hope you enjoy working with a full-time, experienced REALTOR like myself.  Feel free to search the Chicago suburbs MLS or better yet, fill out the Automated Home Finder Form and get new listings sent directly to your e-mail - no more need to search and possibly miss the perfect home.  My search includes foreclosures, short sales and regular seller resales.  Here is a list of the Chicago Suburbs real estate areas I work in personally, but if your area does not appear please contact me as I have a great referral network.Feel free to call me direct at 708-536-8200 or use my Contact Form.

This isn’t really news by the time I’m posting this and most of you probably know it has been extended. 

Well, everyone figured it would get extended - right?

There was word that it would get extended but until it was signed, sealed and delivered, it was just "talk."  I had no idea if it would be extended or not.  And I certainly had no idea what the rules would be.

Details of the Home Buyer Credit

Notice I did not put "First Time" Buyer Credit, because now it isn’t just for first-timers!  The credit is the same for first-time buyers as before but with a maximum earnings increase (up to $125,000 for an individual, $250,000 for a couple), allowing even more to qualify for the credit.  It is still 10% of the purchase price up to $8,000. 

And for anyone that has owned their home for at least the past 5 years that also falls within those earning maximums, a $6,500 credit is available!  This tax credit keeps offering more every time it is renewed.  Remember, the prior credit had to be paid back and those buyers are expected to do so.  

Some are saying it is still leaving out a big section of would-be buyers

Anyone that bought a property less than 5 years ago and want to sell will not be eligible for the credit.  And those same people might be the one’s that are trying to get out to try to save their credit and possibly get another home at a better price.  Of course, if they paid top dollar during the seller’s market they might have a difficult time trying to get what they owe on it (depending on what they put down).

What is the time frame?

You must have a signed contract in place by April 30, 2010.  However, you don’t have to close until June 30, 2010 to be eligible for the credit.  This extension isn’t very long in my opinion, especially since the winter months are historically slower sales months, especially in the Chicago suburbs real estate market with our cold weather.

Will this cause a busier Fall and Winter season?

Only time will tell.  There were already buyers sitting on the fence waiting to see if this next extension would offer them more.  They might expect another extension next April if the market hasn’t picked up much.  And if it does get extended again, buyers will start expecting this and won’t feel the need to buy something by the end date because they’ll expect another extension.

This is actually giving me a push to get my house on the market so I can take advantage of the credit.  I won’t gamble that it will get extended again.  If I didn’t have this "push" I’d just take my time and probably wouldn’t even get my home on the market until March.  Now I’m hoping to get it up asap so I can get it sold and start my search.

If this extension has given you new hope to purchase a new home feel free to search the Chicago area and suburbs MLS or even better, fill out the Automated Home Finder Form to receive new listings daily via e-mail.  

I am hearing different things about the current First-time Buyer Credit that is set to expire at the end of November.  I’ve been told that an extension is in the works but we won’t know until it is officially announced that it was accepted and in force.  Will it remain the same - $8,000 and only for first-time buyers? 

If you are waiting to purchase to see if there will be an extension and if it will be better, you are taking a gamble.  However, if you don’t already have a contract in the works you might not hit the current deadline to close your sale.

Has the credit helped the sagging real estate market

I have heard different opinions and I guess it depends where an agent works and what kind of market they work in.  Some agents have been very happy with the credit and have seen an increase in sales because of it.  Other agents have not noticed an increase in sales at all due to the credit.

I have sold a few homes to first-time buyers that will be eligible for the credit.  However, each of the homes were already vacant.  That means that in these cases the credit did not cause a domino effect by helping a home seller sell their home so they could move up to their next purchase.  A lot of other agents are seeing the same thing.  Either way, whether it’s foreclosures, short sales, estate sales or regular sales, these are homes that were part of the large inventory that are now sold and closed.

Does everyone want the credit extended?

There are some people unhappy with this tax credit.  They feel they will be paying for this for a long time and are angry to have to foot the bill for something that didn’t benefit them directly.

There are some that feel the credit only helped a small percentage of people, including real estate agents.  Again, I feel it helped the housing market a little by getting some of the bloated inventory off the market.

Others feel that the government should back off and let the housing market heal itself by hitting bottom and then repairing itself naturally.  They feel the credit is a band-aid that will simply prolong the declining market.

Have you heard the market is getting better?

Keep in mind, when you read a national news article describing the housing market, the key word is "national."  Real estate is very local and although some areas might be seeing prices and sales increase a bit, many other areas are still declining.  I just listed a house that we did a CMA on a while back.  Prices have declined since the last time we did the market analysis by about 2.75%.  That’s not a bad decline but it’s still on a downward trend for the popular town of New Lenox.

On the other hand, I’m still quite busy for this time of year.  Normally, the southwest Chicago suburbs real estate market is seasonal and after the school season begins things start slowing down.  I’m not really seeing a big slowdown right now, which is a good thing.

If you’re looking to buy or list real estate in the southwest suburbs of Chicago please give Judy Orr a call at 708-536-8200 or use the Contact Form.  

In preparing a Comparative Market Analysis for an Orland Park home for sale, I wanted to see how Orland Park is faring in today’s declining market.  The easiest way to check this out is to collect the data created for us by our local real estate board. 

The data shows us the following, which is based on what has happened during the first half of 2009 vs. 2008:

Amount of homes sold:  2008 = 124               2009 = 118  - showing a decrease of 4.8% of total sales of single family homes

Median Sale Price:        2008 = $325,000       2009 = $294,500 - showing a decrease of 9.4% in the median price

How does this affect sellers?

I’m reading more and more about properties not appraising.  There are different reasons for this, some are as follows:

• The house is simply priced too high for today’s market, but something about it made a buyer interested enough to make an offer that was accepted by both parties.
• Because of the new appraisal rules (HVCC), an appraiser was sent out that is not familiar with the area - this seems to be happening a lot since the new rules went into effect.
• There are little to no comparables in the immediate area and the home was difficult to appraise to sustain the contract price.
• The only area activity is foreclosure and short sales, bringing the value of the area as a whole down.
• The appraiser is taking a percentage off the final appraised price to reflect a declining market.  In the case of a 12% annual decline rate, for example, if a home appraised at $300,000, 1% would be deducted to reflect the declining market.  That would bring the final appraised value down to $297,000.  In the above scenario, I’m not 100% sure if only 1% is deducted to reflect a month’s worth of decline or if a higher amount would be used.

Sellers can no longer "test the market"

OK, technically, they can.  If they find an agent that will do this for them (or as we say in the business, an agent who "buys the listing" by taking it at an inflated price, thus making the seller very happy - at that point in time at least) then they can list at whatever price they want to.  However, in today’s market that will definitely mean a listing that does not sell.

For the agents that take these high priced listings, they have to face the wrath of a seller that is receiving few, if any showings.  Without showings, there are no offers.

A listing might not sell at market value

In a declining market, there is no guarantee that a home will sell even if it is listed at market value.  With a declining market, today’s market value is based on homes that have already sold and closed.  As prices continue to decline, those prices become stale (and high) quickly.

Other sellers that have been on the market and are motivated are becoming pro-active and reducing prices to spur activity.  Even the best agents and very motivated sellers can "chase the market", trying to find the correct price that will bring in more buyers and offers.

The question I always get asked

Many sellers don’t want to list at market value.  They want to pad the price, knowing few buyers will offer full price, especially during our current recession.  They accept the market value, but they now want to add $5,000 or more to that value.  And that might be the difference between getting showings and offers or not.

Remember the competition

There are other sellers out there - many others!  Some are not so motivated and will stubbornly keep their inflated prices and blame their agents for the lack of activity.  Some of those sellers will go through many different agents until something happens in their lives that finally motivates them (they find a home they want to buy or something else happens to make them much more eager to sell).  Then they listen to their last agent and finally price their home properly.  It’s almost a bad thing to be the first agent to take a listing in today’s market.

Orland Park real estate isn’t suffering a steep downward trend as some other towns.  There is a town I work in that has a price decrease of more than 56% for the first half of 2009 compared to 2008.  That’s debilitating for anyone that has to sell in that town.  Many towns have seen a decrease of 20% or more.  Only a few have seen very small declines.

When will prices stabilize?

I don’t think anyone has the answer to that.  I’ve heard the end of this year (I don’t believe that one), next year (we’ll see) and others say 5-10 years.  Many feel that once the decline stops, prices will remain stagnant for a period of time before rising again.  I wish I knew what the future will bring. 

It’s making our job as REALTORS very difficult.  Even appraisers are having a hard time.  I actually had an appraiser call me, sounding exasperated, asking me what I felt a property was worth that was located near one I had listed.  He didn’t seem to have a clue!

If you really need to sell then you must list your property at the correct price if you want to have a chance.  If you don’t really have to sell then it might be wise for you to wait and see how our economy unfolds.  It isn’t fun having your house up for sale waiting for those showings (that may never come), and/or showing your house to many buyers without an offer.

The bottom line is, it is simple supply and demand.  There are still too many homes on the market in any given area and any price range and too few ready, willing and able buyers, especially with today’s new and ever changing mortgage requirements.

If you are interested in selling, give Judy Orr a call at 708-536-8200 or use the Contact Form.  If you’re a lucky buyer in today’s market call Judy or fill out the Home Finder Form to get listings sent directly to your e-mail. 

I still have the feeling that sellers in the Chicago suburbs feel that the Midwest and our little market in Northern IL isn’t as badly affected as some of the other states such as Florida, Arizona, Nevada (especially Las Vegas), etc.  But IL is 8th out of the top ten states regarding foreclosures and it affects supply and demand which then affects price.

For the first half of 2009, here are the state foreclosure stats:

1.  Nevada (1 property in every 16 is in foreclosure)

2.  Arizona (1 in 30)

3.  Florida (1 in 33 which surprises me as I thought Florida was faring worse than Arizona, although they’re very close)

4.  California (1 in 34 - again a surprise as I thought California would be first)

5.  Utah (1 in 69)

6.  Georgia (1 in 70)

7.  Michigan (1 in 74 - again, I thought this would be higher based on bad news I’ve heard, but since this is the entire state, we’re not just talking about hard hit Detroit)

8.  Illinois (1 in 76)

9.  Idaho (1 in 79)

10.  Colorado (1 in 80 - another surprise as I haven’t read any bad press for Colorado)

I’ve said it before, when I go out to prepare a Comparative Market Analysis in some areas the only comparable sales that have sold and closed were all foreclosures or short sales.  Unfortunately, that sets the price for that particular area.  Some sellers ask why we can’t go back 12 months or farther.  It’s because appraisers make the final decision (well, nowadays some underwriters are doing that much farther down in the transaction, but that hasn’t happened to any of my sales yet) and we have to understand that they only go back 6 months.  In fact, in a declining market they try to go back only 3 months, but with the lack of sales that isn’t always possible.

I am very busy with buyers but most of my recent closings have been foreclosure properties (investors and first-time buyers) and one of my recent transactions is handling a short sale for an Oak Lawn home for sale.  These distressed properties are in all areas and all price ranges.  I am waiting to get confirmation to show a short sale of a brand new home in Lemont that isn’t 100% completed and is priced over $800,000.  If these short sales do not get accepted or fulfilled in a specific time frame, these homes will go into foreclosure.

This affects current and future sellers as it can set future market value.  Although short sales can be a good value, foreclosures are usually even better, although the property might be in worse condition because it sat longer with no care or maintenance (and some damage does occur while sitting).  When buyers can find and get financed for a great foreclosure deal, many of them opt to make offers on those homes rather than spend a higher price on a regular sale, where they might still have to put some money into it to bring the property to their satsifaction.

What happens is foreclosures are getting multiple offers while regular sales are sitting with few to no showings, and no offers.  If a seller is truly motivated to sell, they need to keep reducing price to keep up with these foreclosures.

This is great for buyers because they can now afford homes they wouldn’t be able to before.  I just sold a nice home to a first-time buyer that wouldn’t have been able to get such a nice home for what he paid.  I sold a home to a first-time buyer in a popular village that she could never have afforded to purchase a home in until foreclosures started appearing.  

Did these homes need work?  Yes, a little.  But the difference in those prices and the prices of regular sales made it well worth the work that needs to be done in each property.  Again, these buyers would not have been able to purchase anything as nice or in a particular area had it not been for the distressed sale.

Bottom line, and I’ve been repeating this for a while now, it’s a bad time for sellers and if you don’t absolutely have to sell (unless you’re moving up) then maybe you should wait.  For how long, I have no idea.  But if you’re a buyer this is a great time to buy with low prices and low interest rates.  Get off that fence because you might regret not buying down the road when things get better.

If you’re ready to buy please fill out my Home Finder Form or call me at 708-536-8200.  If you have to sell give me a call. 

There are a variety of issues that go into buying or remodeling a home. After all, it’s the place where most will spend a few years and maybe even a lifetime occupying.  One important step deals with the prevention of asbestos.

Asbestos has been banned in the United States since 1980 but for older homes that are often remodeled, it can still be a problem. This is not to say that if you live in a home built before 1980 that you should live in fear.  On the contrary, asbestos is perfectly find as long as it goes undisturbed. Once the fibers are airborne, though, that’s when exposure is possible and the risk of future lung ailments rises.

The major medical complication that can arise is a deadly lung cancer called mesothelioma. This can be a very bad thing because the mesothelioma life expectancy is often very short. It should be noted though that diagnosis can take very long and mesothelioma symptoms may not appear until 20 to even 50 years after exposure.

Hiring a licensed abatement contractor in your area in clearly the way to go before investing in major remodeling work. Professional home inspectors generally operate at a reasonable price and provide the peace of mind needed for healthy living.

The insulation alternatives to asbestos are plentiful,  effective and much better for the environment. This includes recycled building materials such as lcynene foam, cotton fiber and cellulose.  Cotton fiber foam in particular has proven to lower energy costs up to 25%.

The American Recovery and Reinvestment Act, recently approved by congress, also has tax incentives for citizens opting for more ‘green’ materials. So not only can you save in the long run but you can also benefit quickly. Any remodeling done to a home shell is worth 30% of the installed cost, with only parts and not labor included in the price savings.

Problem Unique to Illinois

In Illinois asbestos in older homes and building is not the only problem to be aware of. The Johns-Manville Superfund Site is home to one million tons of asbestos waste in the form of wastewater sludge. Once in awhile this water is drained into Lake Michigan and water currents have carried asbestos fibers as far as Chicago’s Oak Street Beach.

Much of this asbestos settled on the bottom of the lake but dredging stirs it up and the fibers are washed on shore.  Some of this sediment has even been used to replenish beaches that needed sand. There are differences of opinion as to whether this truly is a health hazard to Illinois citizens but at the very least I think we can all agree it’s disgusting.

According to Illinois Dunesland Preservation Society President Paul Kakuris, "Waves wash fibers onto the beaches where sand releases asbestos during beach activities, exposing millions of unwitting victims to deadly asbestos fibers while corrupt public officials and polluters’ consultants rigged studies, using government funds." This particular group advices against relaxing at these beaches.

As always, awareness is the best prevention. Be aware of the potential threats and take preventative measures and you should be ok.