Buyers are beginning to realize in a big way, that NOW is the time, particularly if you're thinking of purchasing higher end homes. There's not going to be another opportunity like this for years! The money that's lost on the sale of a home is more than made up on the buy side when upgrading. The benefits of buying now are great, including a reasonable amount of inventory, though the good ones disappear quickly! Along with the fact that indications are interest rates will rise. If you wait until spring, you may have to scrap your move entirely when you discover that your proposed investment won't buy you much more than you currently own. Sellers are motivated now.
If you sit on the fence too long, you may just find the fence has fallen beneath you.
Find yourself a good REALTOR and check with your favorite lender or ask you REALTOR to recommend one, and take advantage of the opportunity of a lifetime.
Can it be? It doesn't seem possible, but it's that time again already! Time for Naperville Jaycee's Last Fling. The Fling begins Friday, August 29th and runs through to Monday, Sept 1.
Come out and celebrate the end of summer in true Naperville fashion! Activities are planned for those of all ages ranging from the parade of course, to the Big Wheel Race, Senior Bingo, Craft Fair, Skater Activities, Soccer Activities, Diaper Derby & even Four Legged Follies (dog show) to name just some.
Big Name Entertainment including but not limited to the Doobie Brothers and Gavin DeGraw.
For more information on times and events go to http://www.lastfling.org/ .
Get out there an enjoy - it's shaping up to be a wonderful weekend.
Proceeds from the Fling go to support local charities.
Foreclosures are not limited to a particular segment of the market. Although our market here in the Midwest (particularly in Naperville, DuPage & Will) has not been hit as hard as many other parts of the country, that's not to say that some homeowners, even luxury homeowners, are not feeling the pinch. Reuters article on the Hinsdale market.
If you've had the unfortunate experience of having had to deal with a foreclosure, or you're feeling the pressure of impending foreclosure, read on.
The following applies to real estate that you're underwater or in trouble (impending foreclosure) with. It specifically applies to short sales and foreclosures for 2007 and 2008.
Prior to this year if you had a piece of real estate that you couldn't make your payments on - you were foreclosed on, so you sold it and you sold it for less than you owed the bank. The bank agrees that you can sell it for the loss - that's called a short sale. Prior to this year you'd have to pay taxes on the amount you were short. So for example if you sold it for $400K and you owed the bank $450K you were short $50K. You used to have to pay taxes on that $50K. As of 2008 you no longer have to pay taxes on that amount. This is now classified as "Lender Forgiven Mortgage Debt". It is not tax deductible, but you don't have to pay tax on it.
Private Mortgage Insurance (PMI) - if you have annual income of less than 100K your PMI is tax deductible. This deduction was supposed to end in 2007, but has now been extended through 2010.
Capital Gains Tax break for Surviving Spouse - If a spouse passes, you now have 2 years to sell a home and not have to pay capital gains tax on the spouse's portion of proceeds.
This information is strictly for informational purposes - you should consult with a tax professional for your specific case.
If you're wondering where you can go to get rid of all the junk accumulating in the basement:
Disposal of Hazardous Waste
1979 Brookdale Road, Fire Station #4
Naperville, IL
www.naperville.il.us
Saturdays and Sundays except holidays 9 a.m. - 2 p.m.
Businesses, institutions, governments, non-profits and other non-household entities may NOT drop off waste at this facility. Household hazardous waste includes only materials purchased for cleaning or maintenance of a home.
Accepts: Oil-based paint, stain, varnish, solvents, automotive fluids, aerosol cans, household cleaners, mercury, 20-lb propane tanks, poisons, pesticides, insecticides, flammables, household batteries, sealed fluorescent light bulbs and tubes, hobby chemicals, expired and unused prescription medications.
Not Accepted: Latex paint, smoke detectors, fire extinguishers and ammunition.
The facility is located approximately 1 mile south of I-88 tollway off of IL RT 59. Turn east onto Brookdale Rd. from IL RT 59.
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