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1.  On Sunday, March 14 2010 at 2 am, Spring Forward into Daylight Saving Time and move your clocks one hour ahead (aka..."lose" an hour).    2.  Check the batteries in your home smoke detectors and make sure they're working    3.  Make a photocopy of the front and back sides of all your credit cards and ID cards and keep these copies in a safe place at home, just in case your wallet or purse is ever lost or stolen. This way, you'll be able to quickly run through to make calls and cancel each card. As economy worsens, theft typically increases, so use this as a preventative measure.

On April 5, 2010, the U.S. government will implement the Home Affordable Foreclosure Alternatives Program. Part of the Home Affordable Modification Program, HAFA helps homeowners who are unable to retain their home under HAMP by simplifying and streamlining the use of short sales and deeds-in-lieu of foreclosures. Homeowners must meet certain requirements to participate and incentive payments are provided to homeowners and servicers.

March is here and in Chicago that means our hopes are getting piqued for warmer days, greener scenery and an even greener Chicago River for St. Patty's Day. But did you know that March is also National Women's History Month? How are you going to celebrate?
Why not drop casually into conversation that it is women's history month? Read up a little about the women in the field you are most interested in. Love sports? Learn about women warriors in Japan. Have fervor for politics? Did you know Victoria Woodhull was the first woman to run for president in 1872? Like art? Check out Judy Chicago. Music? Learn up on Kathleen Hanna and how she changed rock. You don't have to have a pair of x chromosomes to want to enjoy and celebrate this observance, women's empowerment and strides help everyone. So save the mugs of beer and partying for later in March, and get a little cerebral with your celebrations, learning about the great women in our history as you get together with friends.

The National Association of Realtors approves applications of agents qualified
to help clients in short sale and foreclosure transactions, and less than 5% of
the licenced agents in the city of Chicago have this certification.  I am proud
to say that I am SFR Certified.  Please feel free to contact me with your real
estate questions or needs.
 
John Edfors, Realtor
SFR, CREN, CAR, IAR, NAR
SourceOne Realty
Printers Row
312-264-666 Anytime
jedfors@SourceOneRealty.com
 

 
IRS Tax Tip 2010-27
If you purchased a home in 2009 or early 2010, you may be eligible to claim the First-Time Homebuyer Credit, whether you are a first-time homebuyer or a long-time resident purchasing a new home.
Here are seven things the IRS wants you to know about claiming the credit:

Bueller? Bueller? The “Ben Rose” home on 370 Beech Street in Highland Park, IL is on the market, listed for sale. In the film, this was the home of Matthew Broderick’s friend Cameron (played by Alan Ruck). The home was featured in the unforgettable scene where the 1961 convertible 250 GT Ferrari went crashing through the glass into the ravine. A. James Speyer and David Haid were the architects of this famed North Shore property. Make the 4 bedroom, 4 bath home yours for only $1.8 million. It’s a piece of Hollywood history. Click to View Property Details http://www.sourceonerealty.com/Listings/161/07218797/IL/HIGHLAND-PARK/370-BEECH-STREET.aspx  or contact a SourceOne Realty associate today at 800-498-0967  info@SourceOneRealty.com

Even if you’ve not sold your home before, the process can be daunting. Here is a quick outline of how the initial home selling process works.  Step 1. Hire a Realtor - Find one who is knowledgeable, who listens carefully to your needs  and makes you feel comfortable. The laws and disclosures are continually changing, so it helps to have a pro on your side. Buyers link up with Realtors to find homes, so it makes sense to have yours in the pool!  Step 2. - Discuss your needs for your next home. If you've not identified a house to purchase, discuss different neighborhoods in Chicago or suburbs and also go over home criteria that will suit your lifestyle. Step 3. - Establish your price and time frame. Your Realtor will prepare a comparative market analysis (CMA), which compares your home with other similar homes that are on the market in your area. This will be key in pricing your home correctly the first time. Step 4. - Develop and implement a marketing strategy for your property. It should include ample online exposure, mixed with a few more traditional means of promotion. Should you need assistance placing your home on the market this spring, contact us! We have many talented professionals here to help! 800-498-0967  info@SourceOneRealty.com

Elburn, Illinois was originally called, Blackberry Station. The village officials later changed the name, due to pressure from the C&NW Railroad group, who felt it got confused with Blackberry Township. Melbourne became the village’s new name and at a later point became shortened to Elburn, by the same pesky Railroad folks who pressured the first name change! Ah, politics! Elburn's more recent unveiling has been its new Metra commuter train station (Union Pacific West), extended to reach Elburn residents and allow them easy transport to downtown Chicago!
 
Residents treasure Elburn’s small town feel. Festivities in town include the Memorial Day Parade, Elburn Days (the largest village event, parade and sidewalk sale in town, held the third full weekend of August),  Veterans Day Parade, Holiday Stroll (hay rides, trolley tours) and the big, bright, “Day in the Park,” 4th of July fireworks festival.
 

A reminder to all of you working with folks who hope to use those tax credits (1st time or move up buyers) we are now inside of (70) days for contracts to be signed, sealed and delivered for closings by June 30, 2010.
There are some motoviated sellers, plenty of inventory and a ticking clock for finding one of the many great values we are seeing everyday in every area of the market.
Add in the first of many indicators the Federal Reserve is focused on inflationary pressures more than a continuing environment of low rates (this week's bump in the discount rate) and you can conclude today's overall conditions (and opportunities) will soon be behind us.
Buying at the moment may not be for everyone, but the market has seldom offered such discounts, rates and potential long term rewards in real estate than we are seeing right now.