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Looking for something exciting to do on Thanksgiving Day before the turkey and the football? If you live in Glenview, Wilmette or other Chicago locations, consider a trip to Chicago's State Street Thanksgiving Day Parade on November 26th. Started in 1934 and dubbed the "Christmas Caravan", the parade was an effort to liven up the holidays and lift people's spirits during the Great Depression. Modern parades attract over 400,000 attendees each year.

This year's parade begins at 8 a.m. and goes until 11 a.m. CST. The parade steps out on State Street from Congress to Randolph led by this year's Honorary Grand Marshall, that old redhead himself, Ronald McDonald. The procession features over 100 units, including Ringling Brothers and Barnum & Bailey Circus performers, horses, dancers, drill teams, and marching bands from all over the U.S. You'll want to enjoy all the fancy floats as well.

Giant inflatables will be bouncing their way down State Street, some over 50 feet high. In attendance this year will be such notables as the Cookie Monster, the Pink Panther, Popeye, Kermit, Bear in the Big Blue House, Big Bird, and another big bird Tom Turkey, Rudolph, Elmo and Strawberry Shortcake.

For those living in Chicago or nearby areas but unable to attend in person, Chicago's own WGN, Channel 9 will be broadcasting the parade in its entirety, live and in high definition. WGN America will also show the parade live nationally.

Are you planning a move to the Chicago area? No better place to live than Glenview, Wilmette, Northbrook or the North Shore. And no better real estate office than the Marla Schneider Team to help you find want you want. Planning to sell your Glenview or Wilmette home? Marla can help with that too, giving home buyers and sellers much to be thankful for this year!

P.S. here are some useful links to heighten your enjoyment of the pratrade:

Hotels Near the Chicago Thanksgiving Parade

Palmer HouseW Hotel City CenterHotel Monaco Chicago

More Christmas in Chicago

Magnificent Mile Lights FestivalChicago ShoppingChristkindlmarket Chicago

Chicago Attractions

Navy PierSears Tower SkydeckLincoln Park Zoo

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If you read my recent post Basics of the Newly Revised Home Buyer Tax Credit, you're already aware that Congress passed an updated version of the First-Time Home Buyers Credit. There are a few other ways that home buyers can get some financing help when purchasing a home as well. Let's look at a couple of these options now.

1. The Illinois Down Payment Assistance Program. This bill, which became law on October 30th, will lend a hand to Illinois first-time home buyers and veterans in coming up with their down payment. Qualified buyers can get a forgivable loan in the amount of 3% of the purchase price of the home they're buying, not to exceed $5,000. The loan is only to be used towards the home's down payment. Along with the loan, the home buyer must come up with their share of the down payment in the amount of 1% or $1,000 of the purchase price as well. The new homeowners are also required to take homeownership counseling from a HUD-certified counselor. For more info, visit the Home Start Program Overview.

2. Veterans Administration (VA) Home Loan Program. If you're one of America's more than 23 million honorably discharged veterans, you may qualify for a new VA loan, featuring low rates and up to 100% financing in some cases. To qualify, home buyers must have a credit score of 620 or above. There is no age restriction. The maximum amount available for this type of loan is $417,000 and presently rates are under 5.5%. The seller is frequently required to pay the closing costs. Visit the HUD site for more info on this and other help you may qualify for.

For help finding a home in the Glenview or Wilmette area, call on the Marla Schneider Team. They can help you find the perfect home and a suitable loan with which to purchase it from the many resources they have available.

Here's a great way to get in the Christmas spirit and maybe start a new annual family tradition as well. It is Chicago's 18th Annual Magnificent Mile Lights Festival, marking the start of Christmas holiday shopping on Chicago's North Michigan Avenue.

Held every year on the Saturday before Thanksgiving, this year's festival lands on November 21st, 2009. Free to all, the activities begin at 11 a.m. and run through the ultimate Lighting Procession with none other than Mickey Mouse himself as its Grand Marshal.

Throughout the day, activities including great musical entertainment located at the Harris Stage/ Pioneer Court, 401 N. Michigan Avenue, demonstrations of local cuisine, photo ops with Santa and dazzling displays of all sorts of holiday decorations, give strollers ample opportunity to have a memorable day.

As darkness falls, Mickey steps off the parade at 5:30 p.m. As the Lighting Procession winds down North Michigan Avenue, from Oak Street to Wacker Drive, the fabulous Christmas lights on the avenue are lit. The day's Grand Finale is a breath-taking fireworks display over the Chicago River.

Even though this special day's activities may end with the fireworks, most stores are having extended hours so shoppers can start their Christmas shopping with a bang.

Getting to the Magnificent Mile Lights Festival can be an adventure in itself, so be sure to plan ahead. There are several great ideas on parking and getting to the festival area, as well as more details on the day's activities, at The Magnificent Mile Lights Festival website so be sure to check it out before you leave your Glenview home to enjoy a great day in the city.

But wait, you don't have a Glenview home? That can be easily remedied by The Marla Schneider Team! With great listings in Glenview, Wilmette, Northbrook and along the North Shore, Marla and her team of agents can help you find a great home, close to all the wonderful activities Chicago offers throughout the year.

Thanks to a new version of the First-Time Home Buyer Tax Credit which was signed into law by President Obama on November 6, 2009, qualifying first-time home buyers in Glenview, Wilmette or across the country, as well as those who already own a home, now have until April 30, 2010 to sign a purchase agreement on a new home and until June 30, 2010 to close on their new home in order to qualify for the tax credit. Here are some facts about this program:

Who is eligible for this tax credit? Previously, only first-time home buyers were eligible for this tax credit. That has now changed and home buyers who owned their principal residence for at least the past eight years and lived in it for at least five concurrent years prior to purchasing the new home are eligible for the tax credit as well.

Which homes qualify for the tax credit? The home being purchased must be used as the home owner's principal residence and the purchase price must be less than $800,000. A vacation home or investment property will not qualify for the tax credit. Also homes bought from relatives or spouses do not qualify.

Does the tax credit have to be repaid? Unlike the tax credit of July, 2008, which was more of an interest-free loan, this one does not have to be repaid.

How is the tax credit figured? The tax credit is 10% of the home's purchase price, up to $8,000 for first-time home buyers and $6,500 for buyers having already owned a home.

When must the home be purchased? To qualify for the home buyer tax credit, the principal residence must be purchased on or after January 1, 2009, and before June 30, 2010.

Is eligibility based on the home buyer's income? Yes. Single taxpayers must have income of $125,000 or below to qualify while married couples income must be $225,000 or below. This is an increase from the previous bill.

How does the homeowner figure their tax credit? Taxpayers should complete IRS Form 5405 to figure the amount of credit they will receive. This amount is then claimed on their income tax form.

For answers to other questions and general information about the Home Buyer Tax Credit visit the Federal Housing Tax Credit site.

The Marla Schneider Team can answer lots of questions concerning buying a home in Glenview or Northbrook, whether it's your first home or not. See what other resources she has to offer.

Thinking of selling your beautiful home in Glenview or Northbrook but wondering what the tax implications of such a move will be. Well, here is the answer to one such question that may be "taxing" your mind: Do I have to pay taxes on the profit I make from selling my home?

Since the law was changed in 1997, single homeowners may be able to enjoy a profit of $250,000 while married-filing-jointly homeowners can make up to $500,000 without having to pay taxes on the profit. The only stipulation is that the homeowner(s) owned the house for at least two years before the sale and lived in it for at least two years during the last five years prior to selling.

There are also some loopholes for people with unforeseen circumstances who may have to sell their home before they reach the two-year residency requirement. The IRS lists the following situations as the circumstances which can qualify homeowners for this partial tax break:

• Death
• Legal separation or divorce
• Loss of a job that qualifies the homeowner for unemployment compensation
• Changes in employment that make paying the mortgage and basic living expenses difficult
• Multiple births resulting from a single pregnancy
• Sale caused by a man-made or natural disaster
• Property was "involuntarily converted" (for example, being taken over by the government under laws of eminent domain)

For homeowners in such circumstances, a partial tax-free amount of profit can be prorated.

If you meet the residency requirements or have suffered one of the above-mentioned unforeseen circumstances, chances are you can make some profit on your home that will be tax-free. Contact the Marla Schneider Team and let her help you with these and other questions you may have. Marla has many resources at her disposal and is ready to help in any way she can when you decide to sell your Glenview or Wilmette residence.