Category: Real Estate

Chicago Suburb Real Estate

The real estate market in the Chicago suburbs is as vibrant as it is in city itself. A large number of residential and commercial real estate are always available for sale or purchase in Chicago’s suburban areas such as Cook County, Lake County, McHenry and Boone counties, Kane and DeKalb counties and DuPage and Will counties. There are also other Chicago suburbs where real estate market continues to flourish.

There are real estate firms which deal exclusively with one particular suburb, and others that deal with all suburbs. The south suburbs are relatively new. The real estate prices are high here. Some of the buildings have still preserved the architecture of previous centuries.

Excellent commuting facilities leading into the city have resulted in relatively higher prices for real estate in this area as compared to some other suburbs. The northern suburbs are considered “elite.” Here we have villages with beautiful houses and magnificent churches, a good choice for those who are looking forward to buy residential real estate. The northwest suburbs cover huge tracts of land. The population density is low. The architecture of most of the buildings reminds one of a typical 20th century urban landscape.

Those looking for commercial real estate can go for vacant spaces in shopping malls. Residential real estate is also available in the countryside as one keeps on moving farther out in these suburbs. In the western suburbs one finds a variety of real estate, as these suburbs have a very diversified culture and economy.

There are affluent sections, as well as agrarian and industrial communities with their feet on the ground. One can get a range of real estate in western suburbs. It is clear that in general the real estate prices might be a bit on the lower side as compared to the main city area of Chicago, but as all of them have good connectivity with the main city area, one can settle down in one of these suburbs without having any major impact on one’s quality of life.

Chicago Real Estate

The Chicago real estate market is one of the most dynamic and diverse real estate markets in US. Buying a piece of property in Chicago, residential or commercial, is not an easy task, as the market environment is quite challenging. There are many real estate firms and attorneys available here to help you in completing the transaction. There are specific real estate laws that govern these transactions. At times, these laws are amended. For a buyer or seller of real estate it may not be possible to keep track of all these developments, so it is better to seek professional help and advice in such matters.

Useful information about the Chicago real estate market is available online as well as offline. If you need a mortgage, there is a list of mortgage brokers you can chose from.

If one is planning to buy or sell real estate in Chicago, the transaction can be completed in five steps. The first step is to deal with preliminary matters. Then one hires a broker or real estate agent. The broker or agent negotiates the contract for the buyer or seller (whoever has hired him/her/it). Then, pre-closing matters such as mortgage issues are settled. The final step is to close the deal.

Some of the biggest real estate firms in Chicago were able to cross $700 million mark in revenues in 2005. There are many small real estate firms also. Dealing in real estate is a lucrative business in Chicago, as thousands of properties are always available for sale or purchase throughout the year. There are firms which specialize in residential or commercial real estate transactions. There are other firms which provide services for buyers or sellers of both kind of real estate. They could always make available a piece of property that suits your budget.

Chicago Real Estate Developments

Chicago is also knows as the birthplace of skyscrapers, since the first high rise building was built here in 1885. Today, due to rapid strides made in the field of real estate, Chicago is amongst the top three cities in the world which can boast of the tallest skylines – the other two cities are New York and Hong Kong. There are more than 1500 high rise buildings in Chicago. They are lined up along the beautiful parks and beaches.

The suburbs around the main city have also developed both commercial as well as residential real estate at a tremendous pace. This has made Chicago one of the most dynamic real estate markets in the recent times. Of late, the trend of purchasing real estate from investment perspective is catching up. The business in real estate sector has been looking up as many top real estate firms were able to rake up more than $100 million of revenue in the year 2005.

As a number of Chicago builders have been offerings homes and commercial properties, the real estate sector continues to expand. The trend is greater particularly in Chicago suburbs, even though some of the suburbs have still large areas of vacant land, which have the potential of becoming a “hot” property in the near future if developed properly.

In the mean time, since one of the biggest developments in Chicago real estate sector is unearthing of a mortgage fraud, it calls for being well-informed about these developments in order to safeguard yourself from such frauds. Such occurrences have the potential of duping thousands of families who have interests in the real estate developments. But for rendering you a helping hand, there are a number of real estate development experts in Chicago whom you can contact for valid information.

Chicago Real Estate Agents

Are you selling your house? Are you interested in purchasing a home in the suburbs? Then you need a good real estate agent to handle your business.

Selling a house is a tricky business. The seller must make sure that he is making a logical and well thought out decision during each step. This is precisely why, if you are planning on selling your house or apartment, you should consider hiring a good professional real estate agent. If you are in Chicago, it shouldn’t be too hard for you to find a Chicago real estate agent. There are plenty of brokerages that have more than enough real estate agents in their roster to help you out.

The same goes if you are planning to purchase a home. First-time home purchasers usually make impulsive decisions that they regret and are left feeling short-changed afterwards. Looking for just the right home in Chicago can be a bit challenging, but with a reliable Chicago real estate agent everything should be a snap.

The first step in finding a Chicago real estate agent is to find a reliable real estate agency. Once you get in touch with the agency and let them know your intent, they will put a qualified Chicago real estate agent in touch with you.

For your agent to be effective, he or she must be familiar with the area in which the house you are either purchasing or selling is located. If you are buying a home, your agent should also be able to help you explore all the possible options available to you and inform you of the economics, i.e., taxes, maintenance, and insurance involved.

Selling something is always a challenge, so your Chicago real estate agent should be able to advise you how to make the best deal possible. Take the following into consideration: 1.) Don’t peg your price too highx97stick to what’s realistic; 2.) Do not push the envelope too farx97playing hardball is good, but too much negotiation might discourage the other party completely; 3.) Strut your stuffx97advertise your home, have people come in for and make sure it’s in tiptop shape.

Chicago Commercial Real Estate

There is currently a booming market for commercial real estate in Chicago. There are local firms and brokers who specialize in commercial real estate in Chicago. In addition, there are online resources available that can help one buy, sell, or research Chicago commercial real estate.

Retail businesses occupy a large percentage of the commercial properties in Chicago. Because there are a numerous federal and state laws that must be followed when to buying or selling commercial real estate, it is advisable to ask the advice of a professional real estate firm and/or attorney before doing so.

A number of websites provide online listings of commercial properties for sale. These lists are regularly updated. One can search these lists to gain a general idea of the quality of the properties that are available within a given budget. (The prices of commercial real estate typically vary according to their location, size, and quality of construction.) If you are planning to put one of your commercial properties up for sale, it might be to your advantage to add your property to one of these lists.

Although it is often more convenient to do research online, there is no dearth of professional service firms that can help one research commercial real estate in Chicago.

Some Chicago real-estate firms deal with only premium commercial properties. Most middle and small level firms, however, deal with all categories of commercial real estate. There are many individual brokers and commercial real estate attorneys who can help a buyer or seller close a real-estate transaction quickly and efficiently.

An attorney will complete and verify the necessary legal documentation. Real-estate attorney fees are usually commission based. The rates of commission vary according to the price of the commercial real estate being bought or sold and the reputation of the individual firm or broker.

Charleston South Carolina Real Estate

Charleston SC is one of the best places to invest your money in real estate. The city is known for the richness of its culture and history and has therefore become very popular in terms of real estate. The city’s popularity is encouraging the buying and selling of properties in Charleston.

Buying and selling land, houses or any other type of real property is not child’s play. At its simplest, buying and selling real estate involves taking a few natives’ points of view, checking a few locations and catalogues, deciding which one is best, and determining the right price. However, it is more difficult a task than this, as all properties are not the same. Addresses differ, streets differ, and construction differs – as do the costs, contract terms and financing schemes. In this, professional advice and suggestions matter a lot. You should find someone who not only understands your requirements but also your budget and can get you one of the best deals.

If you are also thinking to buy a home in Charleston you can contact the various agents or realtors. You can also go through the websites of the agents, which give you the complete and detailed listings. Get informed, so that it is all in front of you when you make a choice.

Such professional guidance in terms of real estate helps you to get the best property or home within your budget. It will guide your investment and, most important, it will help to determine what your future will look like.

1031 Tax Exchange Opportunities

The best thing about Section 1031 is that its benefits are available to large, medium, and small investors. The general misconception is that this section only provides opportunities to defer taxes on capital gains for owners of large commercial properties. But the fact is that if one has a qualified intermediary, then all kinds of investors can benefit from this section.

There is no dearth of real estate firms that provide an exhaustive list of 1031 properties. These firms generally also provide the services of a qualified intermediary. There are “simple gains” calculators available on the Internet that can help one to calculate the capital gains tax one would be able to save through the tax exchange transaction of a real estate property. Over the last one and one-half decades, there has been a phenomenal growth in transactions that qualify under the tax exchange laws. The IRS has also tried to make things easier by simplifying this law and plugging loopholes. Those who have lost out on the opportunity of utilizing this provision to save taxes can attend any of the seminars, which are regularly held in various cities to explain how to avail the opportunities under this section.

Prior to 1990, this section was quite complex and difficult to understand. But now, an individual can easily make out how this section operates. It is still advisable, however, that before you go for exchange you should consult your attorney or a qualified intermediary. There are certain issues pertaining to the partnerships, tenants-in-common, and transaction between spouses that need to be taken care of before you make a final decision.

However, large numbers of properties are now available in the markets that qualify under this section, and there are several firms that are exclusively dealing with the sale and purchase of such properties.

Beverly Hills

Beverly Hills is a popular city in the state of California. The city originally was a land grant. As years went by the city was developed to what it looks like today. Now, Beverly Hills is a must visit city for the tourists. It is a city that is occupied largely by film stars. The city offers shopping, tours, restaurants, famous hotels and so on. Many prospective tourists confuse Beverly Hills with Hollywood. People come to Hollywood expecting to see their favorite stars, experience luxurious hotels, restaurants and shopping but are disappointed instead because the city of Hollywood is far from glamorous. It is in Beverly Hills where the stars actually stay, dine and shop. Beverly Hills is just a few minutes’ drive from Hollywood.

Beverly Hills offers all the charm and wealth that one would wish for. One could go shopping on the famous Rodeo Drive. Most of the rich and famous do their shopping here. The tourists visit here hoping to spot their favorite celebrities on the street. Almost all the famous designers have a boutique on Rodeo Drive. If one is not into shopping or stargazing, one can go for peaceful walks in the gardens. The lovely paths, fountains and blooming flowers definitely make one want to take a stroll in the gardens.

Beverly Hills also offers large and expensive hotels, for which Beverly Hotel is famous worldwide. It is believed that there would be no Beverly Hills if there wasn’t a Beverly Hills Hotel. The city grew up around the Hotel.

Another noteworthy factor is Crescent Drive and the Santa Monica Boulevard, where four famous buildings intersect. The city also offers restaurants that offer food to satisfy any palate.

Another major attraction in the city is the Beverly Hills Public Library, which is considered to be a treasure trove of exquisite books and renowned paintings, sculpture, prints and photographs.

With Rodeo Drive offering world-class shopping, family activities at the Farmers’ Market, concerts at the Plaza and the lovely gardens, the city offers a range of activities that any visitor would want to experience.

Adjustable Rate Mortgage Calculators

Before you agree to an adjustable rate mortgage, you should use an adjustable rate mortgage calculator to help you determine what your payments will be if and when the interest rates rise and fall. Having this information will help you make an informed decision about whether an adjustable rate mortgage is what you need or not.

Using an adjustable rate mortgage calculator, you should be able to accurately determine what your monthly mortgage payments will be at the current interest rates and at different interest rates as well. Basically, these tools give you an accurate idea as to what your initial payments will be, and make an estimate as to what your future payments will be.

It is very important that you understand that the future payments are just estimates. Since nobody really knows what the market is going to do, there is no way to determine exactly how much future interest rates will rise or fall. To use adjustable rate mortgage calculators, you must know the initial interest rate, the mortgage index, and the margin. Your financial advisor or lender should be able to provide you with this information. You will not be able to use the calculator and get accurate information without that information, and guessing at that information often proves to be a mistake.

Adjustable rate mortgage calculators can be found in a variety of places. Many websites have these calculators, and they are also found in money management software, such as Quicken and Microsoft Money. In most cases, the numbers that these calculators give you are accurate and can be depended on. However, use caution when using Web-based calculators found on the websites of mortgage companies. If possible, use several different Web-based adjustable rate mortgage calculators instead of just depending on the calculators found at one website.

1031 Exchange Services

In a 1031 Exchange, the main services come from a qualified intermediary (QI), also known by names like facilitator or accommodator. The services are offered on fee-for-service basis. The services from the QI include paperwork, oversight, escrow services and making a bona-fide exchange agreement under section 1031 of the Internal Revenue Code.

For Deferred Exchange treatment, the IRS and the Treasury Department have very rigid requirements. Therefore, to pass these requirements, the services from an experienced professional are essential.

To get the services right, it is essential to ascertain the credentials of the service provider before hiring. In a 1031 Exchange, physical possession or receipt of the money resulting from sale of the property is not allowed, and money is held by the QI only. Therefore, his credibility in terms of bonding, background, reputation and financial strength of are crucial.

The QI is supposed to put the exchange fees in a separate account for the taxpayer, and not commingle that money with any other exchange.

There are several private agencies that maintain a database of qualified intermediaries across the United States. They can be of use in selecting the right intermediary with a good reputation, high level of bonding, competitive fee schedule, financial strength, expertise and integrity.

In the exchange process, the quality of the services is marked by speed, accuracy and safety. A good QI will have concern for the safety of the client’s funds. Through unique exchange accounts he can ensure that the funds cannot be deposited or withdrawn without signatures from both the exchanger and the company. Many taxpayers had the bitter experience of exchange funds misused by unscrupulous intermediaries. Every aspect of the exchange has to be managed according to the IRS rules and regulations.

The build-to-suit exchange is now becoming popular, where the QI is a major player. Also called construction or improvement exchange, this variant has the QI himself acquiring fee ownership of the replacement property and making improvements to it.

After the necessary improvements are done, within the exchange period of 180 days, the ownership is then transferred to the Exchanger.

This new variant of the exchange gives the investors a high degree of flexibility and the opportunity to improve upon an existing property or construct a new replacement property itself. Thus, the range of services provided by the QI and associates are unlimited from the word go.