News and Articles 
There are currently 96 blog entries related to this category.
Negative Home Equity by State
Thursday, February 2nd, 2012 at 3:47pm. 41 Views, 0 Comments.
I rarely give out links to other websites as I usually present local real estate statistics and things that I can write a full blog post on my own without outlinking to other sources. But I happened to find an interesting article with a map showing negative home equity in all 50 states.
Since I own an Orland Park home (a Homer Glen home with an Orland Park address) plus own a 2nd home in Scottsdale, AZ, it was interesting to see how those states stacked up.
When you link to the map, you'll notice that Illinois has 21-30% of negative equity mortgages. This means that 21-30% of Illinois home owners that have a mortgage owe more than what their home is currently worth.
In Arizona, that figure jumps to 41% and up, which was not surprising.
…Lots of News for 2012
Saturday, December 17th, 2011 at 12:24pm. 154 Views, 0 Comments.
Lots of "News" for 2012
For the first time in a while I feel optimistic for the upcoming year. We are busier than normal at this time of year, so I feel 2012 will be even better, and might show a quicker start to the selling season. We have some new things coming up and I'd like to briefly go over them here.
There's a new team in town
I have already introduced my husband Jimmy Herter and my son Matt Orr. Jimmy got licensed last year and is now a Broker. My son Matt has helped us out on and off over the years and he has committed to giving us more time. Matt is our "new" photographer with his new camera. Our photos have always received compliments from happy sellers, but we've now kicked them up a notch.
We have a new newsletter
…Is Home Ownership Losing Popularity?
Wednesday, April 13th, 2011 at 6:57pm. 544 Views, 1 Comments.
Everyone knows that prices continue dropping in many areas, including Illinois suburbs. But those low prices could
be good enough for buyers to consider making a purchase this year. An easy way of figuring out if it's worthwhile purchasing a home vs. renting is to figure out what your mortgage payment would be compared to current rental prices. You also need to take into consideration tax deductions for mortgage interest and real estate taxes for home owners, although they might not last forever. Feel free to use my mortgage calculator, although this does not compute any tax deductions.
There is More to it Then Just Monthly Payments
Even if your mortgage payment is more than a local rental, there is a completely different lifestyle in owning
…Reviewing 2010
Tuesday, January 4th, 2011 at 1:51pm. 629 Views, 0 Comments.
It's been an interesting year and I'm looking forward to year-end sales statistics this year more than any other. We keep losing agents that can no longer earn a living selling real estate. However, 2010 has been one of my best years. It hasn't been easy and I've had to make some changes, but I've done well in a challenging market.
I Moved to a New Home
I moved to the Orland Park/Homer Glen area and sold my Oak Lawn home. I'm glad 
I had my own home for sale as it helps me explain the market to my other sellers. I sold my Oak Lawn home for less than what we paid for it in 2003. Add the new windows, two new bathrooms, remodeled family room, new carpet, hardwood floors, interior & exterior paint, etc., and we lost a lot of money.
Will We Hit Bottom in 2011?
Wednesday, December 22nd, 2010 at 12:50pm. 648 Views, 1 Comments.
I just read an article in Inman News about a report put out by Altos Research. Altos Research is a real estate data 
company and their prediction is that we should hit bottom in real estate pricing in 2011.
They feel we'll see our normal surge in the upcoming Spring selling season, but it won't mean prices will necessarily escalate. In most areas in the southwest suburbs, prices have been declining since 2005. The spike in sales that usually occurs during our best months do not necessarily bring about price increases, just a clearing of inventory.
We will still have a glut of foreclosures and short sales
In my opinion, until the amount of distressed properties slows down there is going to be more inventory than available buyers. Distressed
…Rethinking Remodeling with an Emphasis on Safety
Tuesday, November 16th, 2010 at 6:59pm. 1091 Views, 0 Comments.
Whether shopping for a new home needing renovation or giving an old home a new look, several considerations 
need to take place. The most important consideration is, of course, safety. Sure, home renovation can be an exciting process. We get to open up floor plans, replace fixtures and tear off faded wallpaper. However, renovating an older home can present some unique challenges. Though details like wiring and structural integrity might need to be addressed, especially in Northern climates, other serious concerns need to be addressed. Older homes were not subject to current codes and building restrictions, so many precautions should be taken before you start to tear out walls and burrow through layers of linoleum.
Chemical awareness, specifically, is
…Short Sales and Buyers
Thursday, September 30th, 2010 at 3:10pm. 716 Views, 1 Comments.
I still meet buyers that don't really know what a short sale is. A short sale listing is a property the seller is trying to sell for less than what is owed on the mortgage. A short sale can actually take a very long time, the "short" is referring to the fact that there will be less money to the mortgage provider than what is owed, not the length of time from contract acceptance to closing. Short sales are available in every town and every price range.
Data suggests that only about 50% of short sale offers ever make it to closing. Agents, buyers and sellers don't understand why a mortgage provider would rather foreclose than sell short, especially when it seems like most closed short sales sell for higher prices than foreclosures. Not to
…Have We Hit Bottom Yet?
Sunday, September 19th, 2010 at 1:56pm. 649 Views, 0 Comments.
Have we hit the bottom of low home price values? The optimists keep saying we should see an improvement at the 
end of 2011 and into 2012. They might be somewhat correct, let's face it, they're talking a year down the road.
Today's low interest rates are tempting
Others are saying that the current low interest rates are another government ploy to keep buyers in the market. And they might be correct, depending on how low prices drop in the future. At today's current rates, you'd be better off with 4.5% interest rates vs. a 10% reduction at 6% based on an average home price of around $300,000. You can try out my financing calculator to play around with rates on different price ranges.
How low will prices go?
No one can say for sure,
…New look complete for Chicago Suburbs Real Estate Website
Wednesday, September 1st, 2010 at 5:54pm. 587 Views, 1 Comments.
I hope you like the new look for the #1 "local" website for the southwest and near west Chicago suburbs real estate (from where I'm looking, Realtor.com is above me in the organic searches on Google for "Chicago suburbs real estate"). I think this is a cleaner look and I'm always trying to keep the site easy-to-use and organized.
New and Improved MLS Search
Part of the update was a better, custom MLS search. You have more search parameters and a lot more information for each listing. I'll create a new post just to show all of the data that is available when searching for homes on this site.
There are specific searches already set up for the featured areas and accessible from each specific page. For instance, on the Orland Park homes page
…New Look Coming for Cook & Will County Real Estate Site
Sunday, July 25th, 2010 at 2:25pm. 806 Views, 1 Comments.
There have been several different websites and looks over the years on this site. I even made some tweaks to the Cook & Will County Real Estate website last year to make it easier to read and navigate. Below is my prior look for the Cook County Real Estate website:
The upcoming change will be more drastic. Although I chose a layout that is similar to the look above, the colors, heading and other items will be different. Again, I will strive to keep the site relevant with great real estate content but easy to use.
Maybe you're a buyer that doesn't need to read how to buy a place as you might be on your 3rd home. You just want to search the MLS. And that will be another site improvement. A better MLS search offering even more data
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