Jennifer Kinzle, Realtor, E-Pro

The new rules are shaking up the condo world in the Chicagoland area and Elgin Fox Valley!

Wondering if the condo you're interested in purchasing is currently approved by FHA? Visit this site to find out: https://entp.hud.gov/idapp/html/condlook.cfm

Beginning 2/1/10, there will be some changes in the way FHA handles condo approvals. Spot approvals, meaning those that are done on individual condos (case by case) will no longer be allowed. In this difficult market, many condo buyers who are searching for FHA approved condos will need to look on a shorter list of approved properties. See the link above for assistance on that in your area. The alternative is to see if the condo board can get approval via HUD or DE Lender Review and Approval Process, however, these are far more complicated application processes than the FHA one page questionnaire that the condo's association Housing Authority did previously. If the association is thinking about getting an approval, they need to get the paperwork moving as soon as possible or lose potential buyers.

www.ElginFoxValley.com
Jennifer Kinzle, E-Pro Realtor
Keller Williams Fox Valley
Twitter @jkinzle

Our Real Estate Team for Elgin Fox Valley just signed up to use a new WikiMetro. This is a website that that is city specific that posts local information straight from Twitter. This means you don't have to search through Twitter to find great local posts. Sign up is free and you can even sign up to advertise your blog on other people's blogs!

Enjoy the site and happy house hunting!

Jennifer Kinzle, E-Pro Realtor
Elgin Fox Valley
Keller Williams Fox Valley
www.ElginFoxValley.com

This is not your everyday Keller Williams activity, I admit. It has nothing to do with lead generation, home selling, home buying, investing or even mortgages. Some might even say this is not a very practical business move. But, sometimes doing the right thing means more than making a business run. We are making a difference in our community by taking a step in the right direction and helping those who need it most. You can now drop off your used cell phones to our office. The cell phones that we can collect will either go to anther company which will use the parts to make new cell phones and they will give Mutual Ground Inc. a donation. Mutual Ground Inc., is a local social service agency and shelter which helps men, women and children who are victims of domestic abuse or sexual assault. Or if the phones are reprogrammable, they will do so and then give them to a victim to use for emergencies. Please be sure to include your phone's charger w/the phone. You can make drop-offs to our office at 1450 W. Main Street, Ste. G in St. Charles, IL or contact me and I can pick it up in person.

This is a great way to help out others, recycle and do something good in the process! And don't forget to ask, what has your agent done lately?

Jennifer Kinzle, E-Pro Realtor
Keller Williams Fox Valley
www.ElginFoxValley.com
Twitter @jkinzle

Fox Valley Area Banks and Your Money

Is it too late to put the money back under my mattress? Your best bet is to still shop around when looking for good deals on money markets, checking accounts and mortgage rates. Your corner bank may have a better rate, but may not be around when you need them.

I found a useful tool on the internet recently when I was curious as to how local banks in the Fox Valley area shape up compared to the rest of the country.

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx

A few local banks I thought of included Harris, First American Bank, Elgin State Bank and West Suburban Bank. All the banks I found were ranked on BankRate's star system, Safe and Sound, with 5 stars being the Superior rank, 4-Sound, 3-Performing, 2-Below peer group and 1-Lowest rated.

Here's what I found in Illinois:

Elgin State Bank on Randall Rd and Hopps St, has 3 stars/Performing.

Harris got 5 stars/Superior for Central National and 3 stars/Performing for Harris National Association.

First American Bank ranked at 2 stars/Below Peer Group for its Illinois location at 60110.

And Western Suburban Bank rated at 3 stars/Performing but they are apparently doing better than the larger First American Bank franchise.

There are just over 40 banks in Illinois that ranked 5 stars according to BankRate, so there are plenty more local banks that are not top notch, according to this system. I'd do some extra homework on BankRate and find out who the best and leave the rest.

www.ElginFoxValley.com
Jennifer Kinzle, E-Pro Realtor
Keller Williams Fox Valley
Twitter @jkinzle

6 Weird Ways to Sell your House in Elgin, IL

It's really a shame that nobody splurges anymore. I, for one, don't go anywhere unless I've got a coupon or it's "kids eat free after 4pm on Tuesdays" at such and such place. I've got a limited purchase plan to get through an average week and I'm always looking for cheap ways to indulge. I think a lot of homeowners who are looking to sell could use this "new stinginess" to their advantage. Here are a few weird ways (or incentives) to help a tired homeseller get off the real estate market rollercoaster and get on with the rest of their lives.

1-Offer a free chauffeur service for one year. Forget the Mercedes or Lexus! Why drive when someone can do it for you? If you live in Chicago, the ride downtown would take 2 ½ hrs one way during rush hour from the suburbs, but think of all the work your buyers can do sitting on the Dan Ryan in the back of a sleek black limousine!

2-Do a live auction. This requires additional advertising to get the word out and you'll need to bring in the real deal to get the atmosphere. But the kicker on this one is you might actually have to sell the house for the final auction price, so be careful!

3-Have the home professionally staged and offer to include all new furnishings of their choice.

4-Need to get rid of the empty nest in the sprawling suburbs? Offer a free tutor or au pair for a year for the couple who has kids that are probably heading to a larger home.

5-Bandit signs. These are the annoying signs that are illegal yet pop up in every weed infested field or nailed into a light pole by a busy street until a city worker takes pity on it and removes it. They don't last long, perhaps 3-4 days, but calls might come in to see your home. Put something on it like "Fast Sale, 3bed Home, No Money Down"

6-Offer 10 free roundtrip airline tickets for the out of town guests to come and visit the new homeowners. This helps bring families together as well as help to sell your home!


Good Luck!
Jennifer Kinzle, E-Pro Realtor
Keller Williams Fox Valley Realty
Jennifer@ElginFoxValley.com
Twitter @jkinzle
www.ElginFoxValley.com