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Sign in? Who do you think you are?

Wednesday, December 6th, 2006

Why would you want to register on a local real estate website?
Naperville IDX or VOW
Realtor.com is an advertising site owned by a company called Homestore and while it’s licensed to operate using the Realtor name it is a for profit company that has yet to turn a profit… forever squeezing out pennies and irritating the agents and companies that it is charged with helping. The properties are used to draw you in so that they can build ads around the listings… this makes the site painfully slow. Realtor.com is an opt-in site missing lots of data… it is notoriously out of date and doen’t let you know if a property is under contract… creating an unfriendly and tiresome homesearch. MLS systems are starting to pull out of Realtor.com as it has been discovered that eventually almost everybody chooses to find a local connection.

Eventually, as you get more serious in your home search, you will want to “go local“.


Most people don’t understand why agents ask them to register on their sites to get more information about properties for sale. The truth is that we don’t need it for our own listings or even those of our company (unless they have a rule) the problem lies with showing you another companies listings. 
 

 

In order to address this… two options were developed; IDX and VOW.

IDX stands for Internet Data Exchange. This is an opt in (or opt out… depending where you are) system. No registration is necessary.. the listings that you are looking at should say something about “compliments of” the listing company (probably in really tiny letters) This is kind of like walking into my office, plopping down in a chair and going through the various homes magazines… it’s fun, there is great information but it’s lacking in depth and missing a bunch…. and you are so close to all of the information.VOW stands for Virtual Office Website. This means that I can treat you like the person who walked into my office asking about homes… meaning we plug in your criteria and go through the whole Multiple Listing Service so that you don’t miss anything, except that you get to do it in
your own sweet time. The great thing about a VOW site is that you get access to all of the properties… there is no “opt out” for the Real Estate companies and you don’t have to wait for days to get the updated info. Some of us can also allow access to recent sold properties… The VOW solution is the ultimate in home information, but it comes with a price… just like if you came into my office, I would have some information about you (you could lie… but that’s beside the point) The National Association Of Realtors has set a national policy that all VOW sites require registration.
 

 

So, there you go….I currently feature two different VOW systems… one of them
 

 

WestSuburban Real Estate was the first of its type in Illinois and has been helping people find their homes since the spring of 2000. The other site that I use: NapervilleLuxury Homes

offers a different format for home searches. They both offer multiple pictures, virtual tours and e-mailed updates… it’s really
more a matter of preference.It’s not a matter of you giving up your anonymity… it’s about empowering you with information for you to enjoy some autonomy. The payoff for us is that we hope you grow comfortable with us and our services, that over time you decide we are the “right ones” to help you with this process.
 

 

If not… you can always unsubscribe… I promise, I won’t hold it against you :)

It’s attached… what is it? Condo? Townhome? What’s the difference?

Wednesday, December 6th, 2006
They both appear to be townhomes… they’ve got seperate entrances, no neighbors above
or below, attached garage etc… still one is a townhouse and the other is
a condominium.

What’s up with that?? We use the term “townhouse” loosely to describe a
style of attached home
, yet in a more specific sense… in a true townhome you
would own the land that the property sits on. In this case you would need true
homeowners insurance, even though the exterior may be maintained by the
association, you still

need to insure your share of the structure.

This is a Townhome in Cinnamon Glen at Butterfield in Aurora Illinois

Aurora townhouse

Condominium is a form of ownership. With a condominium association you own
your unit but the association owns all of the exterior walls and the land it
sits on too, you are part of the association so you are one of many owners.
Typically you need insurance that is akin to renters insurance, since your
monthly dues actually pay to insure the buildings.

A Condominium in the Woodlands at Oakhurst North in Aurora Illinois

 

Aurora IL Condo

As you can see, you can’t always tell by looking. Obviously if it’s
a large building… you are probably dealing with a condo (or a co-op in
some markets), but that’s because the term Condo describes the ownership.

In our area Multiple Listing Service (MLS) we lump them all together and call them “single family attached homes” and that that seems to cover it.

Manor homes, coach homes, garden homes are also condominiums, just good marketing offering a pleasant sounding way to describe smaller buildings. These can easily be mistaken for
townhouses as well

To search for single family homes (whether they are attached or not… visit)
Real Estate in Chicago’s Western Suburbs where you’ll have access to the full
gamut of available properties in the area.


Marketing 101 in the Western Suburbs

Sunday, September 24th, 2006


I was recently talking to another agent in the office about listings that only offer a picture of the front of the house… We agreed that we always think: ” it may be a bad agent… or it may be a bad house… I’m not really sure”

You see, in the Multiple Listing Service of Northern Illinois (MLSNI) we can add a total of seven pictures.. as well as a virtual tour to the listing. Not everybody likes virtual tours… but pictures are something that everyone wants (buyers and agents included) It costs nothing to use this feature and it can be done at the same time as the actual listing. I was wondering what other people thought about this and posed the question to a national group of real estate agents in one of my networking groups.

These real estate agents all said that if the MLS allows 7 (or more) pictures and the listing doesn’t include that many, they assume that something is wrong with the property. This is a real problem for those sellers in a slower market and it’s one that they are generally not aware of.

One agent from Florida said that if they talk about the pool in the remarks but don’t show a picture they assume that something is not right with the pool.

Another top agent said they definitely make assumptions based on the amount or lack of pictures. Like if the agent only uses interior pictures (or exterior only)

Of the 17 responses to my question 17 (100%) of the agents responded that they assume the worst when photos are not used properly……

One other thought is that these pictures automatically propogate throughout the system, showing up on real estate related sites all over the Internet (assuming that the agent elects to do that…that will be another marketing blog topic!) including Realtor.com if the agent pays a little extra for the expanded listings.

Sometimes it’s what you don’t say (or show) that influences people..

Best Place to live? You Bet!

Wednesday, July 19th, 2006

What many of us already know…. others are determined to share.

Once again, Money Magazine has ranked Naperville as one of the best places to live in the U.S. This year coming in 2nd to Fort Collins, Colorado.

Last year we were #3 and going back to 2003 we were named the best place to live in the midwest.

Not bad, but Naperville has so much going for it, that I’m not surprised.

Friendly people, safe neighborhoods, outstanding schools, park district amenities, library system (ranked #1 in the nation), Edward Hospital and the fine transportation choices are just a few of the standards… But the Riverwalk, charming downtown with it’s multitude of fine restaurants and shops, the Naper Settlement, Childrens Museum, millennium Carillon, scattered artwork (murals and sculpture!) and our excellent town parties (like Ribfest & Last Fling) are the icing on the cake!

County Market Statistics

Monday, May 1st, 2006


I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Market Watch for Active Listings April 29, 06
Avg List Price
Median List Price
Avg Days On Market
DuPage County, IL
Single Family under $500K $318,760 $317,500 54
Single Family over $500K $1,040,004 $824,900 92
Condo/Townhome under $300K $184,276 $181,000 57
Condo/Townhome over $300K $442,849 $394,394 99
Kane County, IL
Single Family under $500K $282,844 $274,000 71
Single Family over $500K $797,175 $685,000 96
Condo/Townhome under $300K $204,668 $206,900 69
Condo/Townhome over $300K $369,632 $335,140 100
Will County, IL
Single Family under $500K $272,572 $262,500 65
Single Family over $500K $818,588 $689,900 86
Condo/Townhome under $300K $188,584 $189,900 60
Condo/Townhome over $300K $436,174 $372,900 90
Kendall County, IL
Single Family under $500K $275,021 $268,000 71
Single Family over $500K $703,473 $635,000 101
Condo/Townhome under $300K $186,078 $189,900 69
Condo/Townhome over $300K $349,927 $339,000 >66

MORTGAGE. National Averages (April 29, 06)*

30-year fixed Rate – 6.13% APR – 6.32%
15-year fixed Rate – 5.78% APR – 6.08%
5/1 ARM Rate – 5.78% APR – 6.97%

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.