Real Estate News

Chicago is home to great improv theater (Second City, I’m looking at you), jazz, pizza deep enough to bathe in and great sports teams like the ever-lovin’ Cubs! It also has some lovely homes for sale — including President Barack Obama’s home.

So, what can you buy in Chicago for $1,000 to $4,000? Let’s take a look.

(Note: These monthly mortgage payment figures are based on a 30-year fixed loan, using the current Illinois mortgage rate, with a 20% down payment. Estimated taxes and insurance are not included).

Monthly mortgage of $1,000-$2,000/month:

This lovely home was custom-built in the Bronzeville neighborhood and includes a Jacuzzi tub and granite counter-tops.

>  See more Bronzeville real estate
>  See Bronzeville home values

If you are a fan of hardwood floors, this house in the West Lawn neighborhood will pique your interest. Plus, it’s on a lot that is larger than the standard city lot.

>  See more West Lawn real estate
>  See West Lawn home values

*****

Monthly mortgage of $2,000-$3,000/month:

Need lots of room? Love the retro look? This boxy, 6-bedroom, 5-bath home could be right up your alley in the Jefferson Park neighborhood.

>  See more Jefferson Park real estate
>  See Jefferson Park home values

This quaint, robin’s-egg blue home is as lovely on the inside as it is on the outside and can be found in the Andersonville neighborhood.

>  See more Andersonville real estate
>  See Andersonville home values

*****

Monthly mortgage of $2,000-$3,000/month:

This pristine home, located in the Irving Park neighborhood, was built in 2005 and looks like it hasn’t seen a speck of dirt since.

>  See more Irving Park real estate
>  See Irving Park home values

This recently remodeled home in the Wicker Park neighborhood has a great kitchen and a wonderful backyard with large deck.

>  See more Wicker Park real estate
>  See Wicker Park home values

Source:
What You Can Buy in Chicago With a Mortgage of $1,000-$4,000 a Month

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Just when you thought you have heard the last of Nadya Suleman (aka “Octo-mom”) comes word that she could be evicted from the home she occupies with her 14 kids.

Suleman leases this home from her father, who has a mortgage agreement with Amer Haddadin. Haddadin sold the home to Octo-mom’s father in March 2009 for $450,000 under these conditions: Monthly payments of $4,139, and a final balloon payment was due on March 10 to fulfill the entire $450,000 mortgage. Haddadin reports the last $4,139 payment was never made, as well as the final balloon payment. Now, Haddadin is planning on going to the courts to foreclose on the family.

> See more celebrity foreclosures

Read more here:
Foreclosure Looms and Octo-Mom Could Face Eviction

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Need a mortgage rate prediction? I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week’s survey may help you. I predict mortgage rates to fall in the next 7 days.

Here is the original post:
The Mortgage Rate Prediction For The Next 7 Days (March 18, 2010)

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Good news, all you Android users….we just rolled out the Zillow Android App!

We heard from many of you that you’d like to be able to access Zillow’s rich real estate info (we have data on 95 million U.S. homes) on-the-go from your Android device, and today we’ve responded with the launch of the free Zillow Android App. With our app, you can view Zestimate® home values, homes for sale, homes for rent, recently sold homes, and more.

You can search for any home using Android’s voice search feature in which you simply say an address,  neighborhood or city and the app will instantly take you there. You can also check out homes as you walk or drive through a neighborhood with the built-in GPS technology. When you see a home you’re interested in, just click through to see photos, home details and contact info. And unique to the Android, you can view homes curbside with Google Street View. We think it’s pretty useful.

Give it a try: Go to the Zillow Android App page and watch a video, read about the features, and download it — for free!

Have an iPhone? Download the most popular real estate app on iTunes, the Zillow iPhone App.

See original here:
Zillow Introduces the Zillow Android App

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A great question just popped into Zillow Advice from the South Side neighborhood of West Palm Beach. The question from home384 is:

Can I dispute an appraisal as ordered by the bank?

Good question, home384! See the answer to that question and other refinance questions in Zillow Advice.

Go here to see the original:
Can I Dispute an Appraisal as Ordered by the Bank?

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Former boxing champ Thomas Hearns might be in retirement, but he’s facing a new opponent: foreclosure.

According to the Detroit News, Hearns is past-due on taxes and mortgage payments, owing a total of $961,156. Just on Hearns’ home alone, he owes $512,965 and the bank has filed notice that his home is scheduled for a foreclosure sale on March 23, according to The Legal News (free subscription required to access article).

Hearns is an eight-time world champ whose 15-year pro boxing career spanned six different weight categories.

According to Hearns’ lawyer, the former champ is working on keeping the house and paying off his debts.

> See more celebrity foreclosures.

Read more:
Former Boxing Champ Thomas Hearns Facing Foreclosure

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Heads up: If you’re in need of a new refrigerator or washer or dishwasher or other home appliance, you might want to buy one now under the “Cash for Appliances” program that is underway.

The savings could range from $50 to $250, depending upon the product being purchased, the purchase price, and other variables. Appliances that could qualify include:

• Boilers
• Central air conditioners
• Clothes washers
• Dishwashers
• Freezers
• Furnaces (oil and gas)
• Heat pumps (air source and geothermal)
• Refrigerators
• Room air conditioners
• Water heaters

When I saw this list, I wondered “What about clothes dryers?” Click on that link and you’ll see the answer. The biggest thing to watch out for is to make sure you purchase “a qualifying ENERGY STAR-appliance.”

Even though the money comes from the federal government through the “American Recovery and Reinvestment Act,” it will be handled on the state level and will run until 2012 or until states run out of money. For example, Iowa, Kansas and Minnesota have already spent their funds.

>> FIND YOUR STATE’S APPLIANCE REBATE PROGRAM

Related articles:

> Let Uncle Sam Pay to Replace Your Drafty Windows

> Incandescent Light Bulb Ban in 2012

> Federal Tax Credits for Energy Efficiency

More here:
Cash for Appliances Program

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Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent.

Excerpt from:

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Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.78%, up from 4.76% at this time last week. The 30-year fixed mortgage rate rose and fell the past week with a Monday spike to 4.85 percent.

Additionally, 15-year fixed borrowers were quoted on average, 4.22% and for 5/1 ARMs, 3.52%.

What are the rates right now? Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates for your state.

Read the original here:
30-Year-Fixed Mortgage Rates Rise Slightly to 4.78%

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Real estate pros in San Diego: We just wanted to give you a heads up that Zillow COO, Spencer Rascoff, will be in San Diego on April 5 to talk about how Zillow — one of the most popular real estate Web sites — can help you and your business.

Spencer will address:

• Zestimate® values and accuracy
• Networking with consumers in your local area
• How to leverage Zillow’s 8M+ monthly users to promote your listings, yourself and your expertise
• How to dominate ZIP codes where you work

What: Zillow A to Z: From Advertising to Zestimates, Learn How to Make Zillow Work for You
When: Monday, April 5, 11:30 am to 1 pm
Where: DoubleTree Hotel San Diego Mission Valley

Free lunch will be provided and parking is free!

>> PLEASE REGISTER HERE

Hope to see you there!

View other Zillow events.

Continued here:

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The Federal Reserve doesn’t set mortgage rates. Mortgage markets do.

Continued here:
Correlating Mortgage Rates To The Fed Funds Rate

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As actor Mel Gibson proceeded with his highly publicized divorce from wife Robyn last year, it was revealed that a lot of Gibson’s wealth is tied up in real estate. Last year, he put his Old Mill Farm estate on the market for $35 million and it looks like it’s still for sale, but at a big price cut. The Greenwich, CT property is now listed for $29,750,000. (See more celebrity price cuts).

Now, another Gibson estate is up for sale, but this one is on the other coast. Gibson’s Lavender Hill Farm is for sale for $14.5 million. Located in a secluded area of Malibu known as Serra Retreat, it is Gibson’s own private escape. The 2.75-acre grounds have mature trees, a fruit orchard, and organic gardens.

The home is newly remodeled and has 6 bedrooms and 6 baths with a hardwood/stone floors. The master bedroom is on the upper floor and includes a sitting room. Extras include a lighted tennis court, pool, three guest houses, two offices, a detached gym, library, and a garden cabana with game room. It sounds, well, divine. But, don’t take our word for it — see more photos of Mel Gibson’s Malibu home.

> See Malibu real estate

> See Malibu home values

See the rest here:

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Real estate pros in Houston: We just wanted to give you a heads up that Zillow COO, Spencer Rascoff, will be in Houston on March 30 to talk about how Zillow — one of the most popular real estate Web sites — can help you and your business.

Spencer will address:

• Zestimate® values and accuracy
• Networking with consumers in your local area
• How to leverage Zillow’s 8M+ monthly users to promote your listings, yourself and your expertise
• How to dominate ZIP codes where you work

What: Zillow A to Z: From Advertising to Zestimates, Learn How to Make Zillow Work for You
When: Tuesday, March 30, 11:30 am to 1 pm
Where: Hilton Houston Post Oak

PLEASE REGISTER HERE

Hope to see you there!

View other Zillow events.

Read the rest here:

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It’s been a tough couple years for borrowers who are looking to secure a home loan or to refinance an existing loan. Today, the Wall Street Journal reports in the article “Where to Find the Money,” that “…U.S. banks posted a 7.5 percent decline in 2009 in total loans outstanding — the steepest drop since 1942 — and consumer lending fell by 3.8 percent as roughly 7,200 banks and credit unions pulled back on mortgages, credit cards and other loans.”

What is interesting, according to the article, is that while the largest 10 percent of banks by asset size shrank their consumer lending by 4.7 percent, consumer loans actually grew nearly 3 percent at smaller financial institutions — the ones that fell in the bottom 50 percent of the industry in assets. Seems like there is some money to be had if borrowers know where to look.

That’s just part of the beauty of using Zillow Mortgage Marketplace to shop for a home loan.  Zillow’s network of lenders range from individual brokerage firms and small local banks to the larger, national banks.  Borrowers simply submit an anonymous loan request and receive custom quotes from a wide range of financial institutions almost instantly.  Even better, borrowers can compare all of these quotes on an apples-to-apples basis inclusive of all fees, and review lender ratings and reviews before deciding which lender to contact.

As the WSJ writes, the trick to getting a good deal on a loan is to compare costs and there is no easier way to do so than on Zillow Mortgage Marketplace.

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When an agent uploads a photo, you’ll notice their name is attached to the bottom of the photo when you are on the overview page of a listing (aka the home details page).  Occasionally, agents think that the agent under the photo is falsely claiming the listing.  This is not the case. This simply means the agent uploaded the photo. To get rid of the agent’s name, you can do two things:

1)  Rearrange the photos so that the main photo is a photo you uploaded. This will ensure that your name pops up under the main photo on the home details page.

2)  Delete all photos not uploaded by you.

We have seen many posts asking how to remove old or incorrect photos on owners’ home details pages. Until recently, only the person who added the photo could remove it, or one of us Zillow folks would have to remove it for you.  Now you can remove photos yourself!

Caveat: You need to be the claimed owner or the current listing agent to remove photos from a home details page.

To remove photos as the owner:

• First, claim the home as the owner
• Remove photos by clicking the button. Then click the remove link on any photos you want to delete. (Note: Once they are removed, they cannot be retrieved by Zillow).

To remove photos as the agent:

• As an agent, once you have a home details page in your listings queue, you will have the same access to the photos as the owner. Read this thread to learn how to claim a listing

Read more:
Wrong Agent Underneath Main Photo!

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