If your search to purchase a home for the first time had you in a flabbergasted state
to hastily make a choice from what's available on the market... guess what? GOOD NEWS!! The deadline date for qualifying for the tax credit awarded to home buyers has been prolonged!
Agents and buyers can both cease from holding their breath... a bit, for Congress has extended AND expanded the tax credit for qualifying buyers. The official last day for filing (income) taxes with the IRS is April 15Th, 2010. The official last day to have a written binding purchase contract for a home is April 30Th, 2010. As long as the house closes by July 1, 2010, the credit can be taken.
If you are a CURRENT homeowner, and will buy a new home between November 7, 2009 and April 30,
2010, a tax credit benefit of $3250 or $6500.00 (depending upon your filing status) has been made available for you also! This is EXCEPTIONAL news for homeowners who have used their principal residence for 5 of the prior 8 years consecutively.
BEST NEWS OF ALL?? THE TAX CREDIT DOES NOT HAVE TO BE PAID BACK!!
Confused? Do not fret. The National Association of Realtors, has a more thorough explanation at their website. A helpful chart denoting the distinction between the old tax credit rules and the new extended tax credit has been issued by Governors Affairs Division and can be accessed here.
We encourage you to contact your local REALTOR® to acquire personalized information tailored to your needs. To start your search for available homes in the South Suburban or Chicago-land Area, click the Rice Property Management logo below.
"Where the RIGHT Price is the RICE Price!"
Rice Property Management & Realty, located in South Holland, Illinois, has agents that work with first time home buyers seeking homes in Illinois and Indiana. Give us a call at 708-862-7423
(Images courtesy of Bing)
My last showing appointment last night, was with one of our investors who purchases rental property for us to manage. 
He was so excited about this single family home because it passed every item on his check list:
With flashlight in hand, my client had arrived 30 minutes EARLY in his eagerness to case out the neighborhood, visibly inspect the roof, and walk around rear of the vacant potential investment.
We have gone on such appointments in the past, and have found some short sales and pre-foreclosures to be undesirable, but THIS ONE WAS DIFFERENT!!! (So he thought!)
Our eyes are continually on the outlook, for we know that in some areas it's an INVESTORS FLEA MARKET, AND BUYERS CAN RACK UP!!
Upon opening the door, we were both surprised to see the electricity on! Good! We then noticed the beautiful hardwood floors!
So far so good!!! Now, I KNEW in my mind this deal looked too good to be true... so, obviously there had to be SOMETHING wrong....
My thoughts went to an earlier transaction done with the SAME investor, who has a "gift" for locating some of these diamonds in the rough. Could THIS be one of them?
Here w
e go... this nose of mine detected that familiar water smell.....!! Sure enough, we looked up and there it was.. the beautifully textured ceiling was dotted with circlets of grey!! Upon quickly surveying the home, we discovered infiltration of moisture that bred spores of .... MOLD!!!!!
Let's get OUT of here, "i said!" I want us BOTH to be around to enjoy many business transactions in the future! Mold like this needs to be DISCLOSED prior to permission for access!! It's a detriment to the health of the Realtor and the client!
I was EXPOSED and INAPPROPRIATELY DRESSED!!!! - If you are an agent of investors seeking a deal....don't let this happen to you... From now on, i will be dressed for the occasion and so should you!
"Where the RIGHT Price is the RICE Price!"
Rice Property Management & Realty, located in South Holland, Illinois, has agents that work with first time and experienced investors desirous of obtaining single family homes as rental property.
(Images courtesy of Bing)
Have you ever done something that was STOOPID? Not stupid.... STOOPID!! Stoopid is a dumb thing you 
did but didn't know it was dumb until you looked back. When you did, all you wanted to do was to hide, and stoop as to not bring attention to onlookers that YOU were the one who did it! Did you wish, "if ONLY i could do it all over again... i'd do it differently!!" Bummer! Instead you keep kicking self in butt... stewing over it time and time again!
GOOD NEWS!! Your redemption time is here! How so? Pile up ALL of your mistakes, regrets, and stoopid stuff, and bring them over to the 2:00 AM Sunday Morning time, November 1st. Why? Because this is the only chance this year you get to FREELY redeem the time! You get another hour to redo your mess ups... whatever they were!
Simply place every last one of these mishaps at the last strike
e of the 2:00 AM time period... never to be seen again! After you've done that, change the hand on the clock to read 1:00 AM! That simple? Yep! You get a whole NEW hour! Now, when the second 2:00 AM comes.... don't repeat that same act that made you stoop, OK??
This is EXACTLY what you have been waiting for.... TURN THE CLOCK BACK!! And start anew!
I count not myself to have apprehended: but this one thing I do, forgetting those things which are behind, and reaching forth unto those things which are before.....
See then that ye walk circumspectly, not as fools, but as wise, redeeming the time, because the days are evil.
Images courtesy of Bing
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Blog post written by Diane Rice, owner of Rice Property Management & Realty, located in South Holland, IL. Information about rentals, property management, & houses for sale can be found at www.862RICE.com
In Illinois and parts of Indiana, there are currently 425 ACTIVE listed homes on the Multiple Listing Service for $30,000.00 and under! (There are 1196 in the $30K to $70K range) These all have 3+ bedrooms and are ideal for first-time or seasoned investors seeking to develop their single-family-home rental portfolio, because they are so affordable!
Of the 425 listings, 199 of them have 1 & 1/2 + baths. (Of the available 1196 homes in the 30 to 70K price range, 611 of these 3 bedroom homes have 1 & 1/2 baths.) Certainly some of them need entire rehabs, however, there are many that just need light-weight cosmetic work! The locations of these houses are in varying neighborhoods from the North Side of Chicago to the South Suburban communities as well as Northwest Indiana. These would make excellent rental homes, for the demand NOW is huge! It's an investors flea market!!
Financing for these types of homes (including rehab loans) are available from different lending institutions, which we highly recommend doing research about prior to agreeing to a specific loan. If you have cash, which is more favorable, your negotiation power is higher, for many of these houses were foreclosed and are owned by banks which are prepared to settle to get them transferred to new owners.
A licensed Property Management company and a reputable building and construction company can become your best partners with this investment venture. A Property Management company that specializes in managing rental homes can oversee every aspect of your property, like screening, rent collections, maintenance, annual inspections, and all other tenant matters, freeing up your time to tend to new prospective enterprises! A construction company can get your house in habitable condition.
For help with your transaction from beginning to end, it is recommended to choose a company that can walk you through every aspect from selecting a profitable rental property, successfully bargaining the purchase of it, overseeing the managing of it, and assisting with it's re-sale if your interest level changes in the future!
It's an INVESTORS FLEA MARKET in Illinois & Indiana - Get Ready to Rack Up!
"Where the RIGHT Price is the RICE Price!"
Rice Property Management & Realty, located in South Holland, Illinois, has agents that work with first time and experienced investors desirous of obtaining single family homes as rental property.
(handshake graphic courtesy of Bing)
If your credit is good, it shows you take responsibility for yourself and will most likely make an excellent tenant. Property Management companies have the task of seeking occupants who will faithfully make monthly payments and exercise good housekeeping skills.
At times, available rental homes will remain vacant too long because property managers refuse to take risks in selecting a candidate who has not shown evidence of wise credit usage which reflects on their report. It's always a pleasure to present positive findings back to property owners.
Scores of 600 and up are considered to be good rental potentials. Ratings of lesser points indicate troubling challenges, and could be reasons for denial of a rental home.
Annual credit reports for consumers are available and offered FREE by three major credit reporting bureaus. Credit scores can be obtained for a charge. More information can be found online at: Annual Credit Report or by phone at:
If you are searching for a rental accommodation and possess good credit, the door is wide open with multiple choices in housing, while those with poor credit are limited.
Diane Rice is Broker/Owner of Rice Property Management & Realty, LLC., located in South Holland, Illinois with licenses in Indiana and Illinois. Rental agents of the company can be reached at 708-862-7423.
© Copyright 2009 Rice Property Management, All rights reserved
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Commercial & Residential Property Management & Real Estate servicing Suburban Illinois & Northwest Indiana locations. Our clientele includes investors, owners, renters, buyers, and sellers.
We began our business after we received divine instructions: "start the business, and whatever you touch will turn to gold"! At the time, we were living in a basement apartment surviving mainly on potatoes for a whole year. With no money saved, and not knowing where to start, "it came to me" that what i can do is what i have already been doing all my life, "naturally" Well, i knew how to clean, so i made calls offering to clean homes. Our first customer was a relative. I grabbed a can of Comet Cleanser, a few rags, and mounted the $5.00 bike my husband purchased me from a resale store.
It took a whole day cleaning her 3 level home. When my husband saw my efforts, he then picked up a paint brush and announced, "well, i can paint"!
We called the landlord and informed him that he needed his building painted and cleaned, then offered our services. The next week he called and took us up on it. Unknown to us, he had 38 units, which we began to clean and paint. Later, when we were "divinely instructed" to move to a different location, we continued our business with him.
It was after we moved that our former landlord asked us to manage his properties. We became his part-time employees, seeing to the needs of tenants.... cleaning, painting, and most of all listening, hearing, observing. Later on, we were divinely instructed to get licensed, and we did. We believe one of the reasons we have been called into this business is to service a sector of people who may have resigned to become life-time renters due to low credit scores, hindering past histories, and lack of knowledge needed to assist in advancement. There is an immense degree of joy witnessing the gratitude shown on faces of clients who did not believe they could become homeowners! As we continue to be directed by "divine instructions" we anticipate greater contributions to service lives of many.
Rice Property Management & Realty, LLC. - "Big on "U".... all the way to the letter"i"
Owners: The favor awarded to us gives us a resource advantage of being able to offer pre-qualified tenants to property owners seeking management in the States of Illinois and Indiana. Our large tenant-base can be utilized to accomodate your units needing occupants. We walk the owner-to-be through every step, encouraging them along the way. Our convenient South Suburban Rental Office located in South Holland, IL, is being equipped with state of the art property management support systems designed to give you quality professional monthly reports. Rice Property Management resolves to become your Full-Service Property Management Company. We encourage all interested owners to contact us for appointments. Investors: Rice Property Management seeks partnerships with investors desiring to contribute back to the community while enjoying profits made from wise business choices. Our endeavor is to expose others to investment visions that will impact lives for the betterment creating an acceleration in business as a result of liasons with us. New and seasoned investors are encourged to ask Rice Property Management regarding these programs. Renters: This is one of the main areas of focus for us. Our experience as Property Managers has given us the understanding, patience, and sensitivity needed to assist our clients into becoming homeowners. We appeal to tenants and those with challenged credit primarily concentrating where the needs are. We "use rent-to-own" strategies and have credit counseling plans. We have chosen communities that have high concentrations of renters in the South Suburban Illinois & Indiana vicinities to target. We have an "Urban Mission" message to prove..... "welcome to your OWN home!" We endeavor to: Convert renters into homeowners, homeowners unto investors, and investors into neighborhood developers. We will accomplish this through using on-going training through our memberships with Local Chambers, Neighborhood Coalitions, In-house training, and other sources. We are dedicated to getting results for anyone desiring a home regardless to past credit problems or low incomes. We are eagerly waiting to serve you! We belong to the following: Community Involvement:
"I needed to have run into this company earlier on, I called looking to rent an apartment, never knowing I would qualify for a home. Mrs. Rice took the time to walk me through every step and now I am a proud homeowner! I have and will continue to refer everyone I know to Rice Property Management. She is very professional."
"I have been working with Diane at Rice Property Management for 4 years and it has been by pleasure. They were not the first management company I hired to manage my property, but they are the best! They have systematically handled my problems that arose with professionalism and with a "personal touch". They are ethical, accountable, and highly efficient. Diane treats my property issues as if they were hers. I would definately recommend Rice Property Management to handle anyone's property needs.
Thank you, Aaron - Las Vegas, NV
Rice Property Management & Realty, LLC. - "Big on "U".... all the way to the letter"i"
To GOD be ALL the Glory for the things HE alone has done!
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