Home with Heavy Hearts: Cappy Left Us

Cappy left us yesterday. He didn't want to go. We didn't want him to go, either.

But the little guy, our beautiful white Persian cat for 17-plus years, had to. We had rescued Cappy from abandonment as a kitten. It was not within our power to save him this time. Breast cancer was taking its unrelenting toll. He had a growth removed only six weeks ago. We got the worst news possible...it was cancer of a very agressive nature. At his advanced age, radiation and chemotherapy were out of the question. Cappy bounced back from the surgery with the heart of a champion. Considering what he had endured, he and we enjoyed a few good weeks. Then came the setbacks...diminished appetite, harder and harder to walk, sapped of energy, difficulty breathing. It would not be fair to let Cappy linger on.


With heavy hearts and tears that kept coming no matter how hard you willed against them, Carol and I carefully bundled Cappy up and took him for a solemnly silent ride to the vet's. We had called ahead, so the doctor, a young lady who had migrated to Chicago from Germany, was waiting for us. She had tended to Cappy just 48 hours earlier. Not that she knew Cappy well, but she seemed to genuinely share the sadness of our impending loss. Probably because Cappy had an uncanny way of quickly earning affection from virually anyone whoever met him. And in his final days, under the most dire of circumstances, Cappy gave you reason to love him all the more. He seemed to accept his fate with pride and composure. As beaten down as he might have been, he did not allow the ravages of his disease to diminish his regal disposition. His mellow behavior. His splendid good looks. Somehow he managed to keep it all togther right to the very end. Cappy, you were a Godsend. You will always be in our hearts.

Your pad need a whole-house facelift? Or just a bit of tucking here 'n there?

In the past few weeks, I have become quite familiar with the professionals at Hollender House in Chicago. What they offer when it comes to home improvement is a mixed and very impressive bag of services. From total gut rehab, to spiffying up a hallway, to simply making tired, old flooring regain its shiny glitter. Mainstays Rob, a gifted designer, and Mike, a personable, no-nonsense project manager, have for seven-plus years now been keeping clients happy. And, in the process, earning their accolades and referrals. Business is good, they report. Not suprising when a company lives up to its promises the way Hollender House does.

DINE AT NOOKIES: A RECESSION-SMART MOVE

What with the recession officially upon us, the decision to eat out becomes a more considered decision for many of us. For wife Carol and me, I'm sure we'll be dining more than ever at Nookie's in Chicago's Old Town. It's been favorite of ours, whether breakfast, lunch and dinner,for many years now. The casual fare, for our taste, has always been nothing less than outstanding. And now, the reasonable prices make just that much more sense. To boot, it's BYOB at dinner. Personal favorites: feta cheese omellette in the A.M., whatever soup of the day for lunch, and their incredible linguini with spinach/olive oil for dinner. Bottom-less coffee is standard. Service ambassadorial friendly.

Mortgage Rates Go Down, Down

Just got an e-mail from Lane Sears, an experienced, reliable Chicago lending agent that rate on 30-year fixed had dipped to 5.375%. Even lower if a buyer is ready to close within 30 days. That's more good news for people looking to purchase that first or next home.

Calling Off the Party: A Class Act

A real estate agent in downtown Chicago, I hang my hat (or license, if you will) at Rubloff Residential Properties. It' s a legendary independent institution with two owners who share one mission: whatever you do, do it with class. That's the culture at Rubloff. That's the only way to go. Everybody wins...broker clients, broker agents.

So how can the head guys cancel the company's awsome annual Christmas party, as they announced a couple days back, and still keep their class-act reputation intact?

Fair question. Easy answer.

Instead of footing the tab for the holiday hoopla, this one time around Rubloff's top honchos informed that they would be making a (no doubt significant) donation to the Chicagoland Food Depository. The gesture means a whole bunch of Chicago's neediest citizens can expect to receive food baskets a bit fuller than if the party had played on.

A very nice turn of events? Just ask the jolly guy in the vibrant red suit. At last sighting, he had a wide, wide Rubloff grin on his white-bearded face.

Happy holidays to all.

BAULER PARK: The Ugly Duckling that grew to be a Jewel

We've lived kitty corner for 28 years from Bauler at 1901 North Cleveland in Chicago's Lincoln Park area. Today, the park is teeming with toddlers expending endless enery as the bound from slides to swings to climbing bars. And other exciting play stations. It's a scene that goes from dawn to dusk. It was not always thus in this 60614 zip code. Early on, Bauler and its tacky environs, attracted ruffians and trouble seekers. Time and persisten homeowners have wrought a wondrous change. Sweat equity, creative fund raising and support from the park district have made Bauler a jewel. Just one of many in the city where I take great pride in helping peope sell and buy homes.

Chicago Market: Sturdy As You Go

Year to date in downtown Chicago, condo prices have remained strong. In fact, in seven of eight popular areas, units have increased in value. Increases ranging from 3.2% to 46.5%. The areas inlcude The Gold Coast, Lincoln Park, Lakeview, Roscoe Village, The Loop, West Town and The South Loop. Prices in the Near Westside show a scant .59% decline.

My transactions are up 15% for the same period this year versus last.

Sure we are in the midst of tough times. But Chicago is relative fortunate in that it has an economy of diversified busines and industry and an allure that makes people want to call the Windy City home.

Tough times: sure. A buyers market: absolutely. Hope for sellers: without a doubt, providing they have an attractive property that is reasonably priced.

I am right now staring at the "Top Producer" certifcate awarded me by the Chicago Association of Realtors. A hard-earned recognition. A CAR executive observed recently that the "...feint of heart can't lay claim to the prestigious award. Only the best of the best can."

My absolute best. That's what I strive to deliver to each of my clients. No matter whether they are a seller client or a buyer client.

Want to talk about your real estate situation? And how I quite possibly could be instrumental in getting you to the finish line, to that goal you have in mind.
Let the dialogue begin at 312 264-5854. Or e/tmcgavin@rubloff.com.

Challenging times demand grit, savy and professionalism. That's what I am all about.

Rubloff Agents to Chicago Home Buyers: Your Advantage Won't Last Forever

NEWS RELEASE For Immediate Release
Contact: Tom McGavin 312 264-5854

Veteran Agents Advise:
Buy Now Or It Could Cost You In The Long Run

No doubt about it. Current market conditions markedly favor the home buyer. But they are not forever lasting.

That’s what a recent poll of sales agents at Rubloff’s corporate headquarters revealed. In fact, a high percentage of the agents, many of whom have witnessed other severe downturns in the past 20 years, say they are advising clients to buy now or face paying the price later.

History is on their side, the agents say, and they point to signs that indicate that the climate favoring buyers will one day disappear. Possibly sooner than later.

“We are already seeing signs of an uptick,” observes Tom McGavin, a broker associate at Rubloff. “The Federal Reserve running Fannie Mae and Freddie Mac is one. Others, mentioned in the survey, are the dollar beginning to rebound and oil prices spiraling downward. (And McGavin points to existing home sales rising nationally an unexpected 5.5% for September.)

McGavin, a Chicago Association of Realtors “Top Producer” award winner, says he and his colleagues keep a constant eye on…“ever-looming” inflation because a heat-up in inflation would cause a real spike in real estate prices.”

Further, he said, surveyed agents caution that waiting for more deterioration in property values could prove false economy. “They point out that the savings of a lower purchase price would be wiped out if interest rates suddenly begin to climb.”

McGavin said agents cite several advantages that buyers have working for them right now. Number one is interest rates running at their lowest levels in several years. Even dipping below 6% at one point. Also, sellers have grown weary of lagging market times and are eager to strike a deal before winter hits. And with fewer buyers showing up, sellers have become more flexible when offers do come in.
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McGavin said high home inventories, which translate into better selection, and more choices, which mean less compromise, are two other buyer advantages frequently mentioned in the Rubloff survey.

“As a group, Rubloff agents feel there are many good deals out there, but buyers must act to capitalize on them,” he emphasized.

McGavin, who specializes in working with sellers and buyers primarily in the downtown Chicago market, noted that the real estate business in the city has not suffered nearly as severely as in markets like California, Ohio, Florida and Nevada.

“Total unit sales are down and market times are up compared to last year,” he notes. “But prices have remained strong in many neighborhoods. For example, prices in Lakeview have increased 7.6% versus a year ago, Lincoln Park, 11.89%, Roscoe Village, 12.1%, South Loop, 46.5%.”

Buy while the buying is good. That’s the word Rubloff agents are spreading.


Notes: Rubloff Residential Properties, an independent brokerage, was founded in 1930. The company maintains seven sales offices in Chicago, The North Shore and in New Buffalo, MI. Active sales associates annually sell nearly 2.5 times the industry average. Tom McGavin’s sales in 2008 are up 15% over a year ago. He joined the company in 2001.

Zounds! Chicago home buyers are buying.

The resale housing market in Chicago is doing a lot better than in many parts of the nation. That was driven home to this broker associate just the other day. Left a showing request with listing agent for home in Lincoln Park that had been on the market for only three days. The response back: property under contract. Another indication that a combination of nice homes and reasonable prices make a market. At least in Chicago. Aren't we fortunate.

The Phone is beginning to ring again

Recently read an article in Barron's citing minimal increase in property prices in Chicago. A sign that the real estate market is heading north after its southerly sojourn all these many months.

TAKE HEART CHICAGO

Patriots’ Super Bowl stumble could bode well for stocks/housing

The Super Bowl casts a magical spell over much of America. More than 40 per cent of us were glued to the telecast of the latest re-enactment of this annual fisticuffs of all football fisticuffs. Viewers included die-hard fans and once-a-year, join-the-party interlopers. The game elicited screams from the normally passive. Hugs by strangers who suddenly became new best friends. Tears from grizzled men groping to cope with the demise of their Sunday heroes.

Now another Super Bowl phenomenon comes to light. In years when an NFC team wins (as did the Giants this year), the economy goes on to enjoy much rosier days than in years when the AFC prevails.

This the finding of Avram Goldberg, of Inman News, who took a look at data dating back to 1967. Details of Goldberg's study:

1) In NFC win years, the S&P 500 delivered a positive performance 86% of the time versus 63% when the AFC won.

2) The S&P 500 grew an average 16.4% in years when the NFC won, compared to 7.1% when the AFC dominated.

Goldberg points to an uncanny direct correlation between how equities and real estate perform. For the past 11 years, for instance, when one was up so was other and vice versa.

He uncovered another interesting nugget in his analysis. In the other two years when the Giants were champs(1987,1991), the economy faced challenges similar to those confronting us in 2008. And the economy in both years ended up on a winning note. Nice, realistic stuff. And all thanks to the Patriots for allowing history another chance to occupy its customary role.

GIVE YOURSELF AN INSTANT PAY RAISE

Last fall, I was working with a first-time buyer. He was seriously interested in becoming a homeowner. At the same, he was extremely cautious about " ...overspending and becoming house poor." Therefore, he established what I believed to be too conservative a purchase budget (based on his salary and other financial obligations). And, as it turned out, we were not having much success finding a home that he liked.

One day, I asked my buyer about his income tax situation. Specifically whether he usually got a tax refund from the IRS. He said he always received a substantial refund.

My response was that the big refund was indication that his semi-monthly payroll deductions were too high. That he could/and should increase his take-home pay by increasing his number of dependents and, thereby, reducing the withholding amount . Especially so as a homeowner who would be able to deduct mortgage interest and property taxes. I suggested that my client check with his lender or accountant to verify that my advice was sound. Which he did. And figured out that there would be no problem with upping his purchase budget by $50,000.

Within a week we successfullly negotiated a purchase offer in a newly converted high-rise building in the West Loop of Chicago. A happy client sent me a note of thank you for helping him "...buy more home" than he thought he could afford.

CONTRACTOR BRINGS PLENTY OF REHAB EXPERTISE TO THE JOB. PLUS OLD-SCHOOL WORK ETHIC TO BOOT

Got to know (and respect)Felipe Villanueva in 2005 when he spearheaded heavy duty remodeling of our town home's well-worn kitchen, dining room, master bath, wet bar and flooring on two levels. His non-stop display of finesse, guile, energy and expertise was infectious to his workers and held us in awe. He paid a visit this morning, two years after job completion, to "fine tune" some recessed lighting cannisters. (No love 'em and leave 'em contractor,is he. A truly rare breed in today's time.) Felipe (shown above being served by customer in writer's new kitchen) performed equally impressively on major gut rehab work for several of my clients since the work he did for us. His workmanship is evident in many Chicago neighborhoods, including Lincoln Park, the Gold Coast, Lake View, Bucktown, River North and South Loop. He can be reached at 773.934.8841. A good number to keep handy. This realtor does.

Gotta Keep Shooting, Gotta Keep Showing

The Blue Devils left me blue Saturday night by coming up short to the Tar Heels, who scored last 12 points to win heated battle of SEC rivals. Final score doesn't matter. Duke missed shot after shot. Can't get discouraged, though. Got to keep shooting in upcoming games. They'll start falling.

As an experienced real estate agent, I've learned that you gotta keep showing. It only takes one buyer to get the deal done. I tell my clients that I'll work for as long as it takes. That's important, more so in today's topsy turvy market.

I see activity gaining momentum. At a listing appointment yesterday, I showed owner of multi-unit property a similar property that sold in one day. He perked up and is now excited to get his 3-flat in the Lincoln Squaare area on the market. That's happening this week

Gotta keep shooting. Gotta keep showing.

Duke 'Em Duke

Duke just has to beat North Carolina tonight. Why am I such a huge booster of Duke's? The school's academic demands and a classy Coach K, stalwart from Chicago that he is. That's why. Go Duke. But no matter who you root for, I'm here to give Chicago's home sellers and a buyers a gung-ho effort. That's because I am an unbiased, hard-working real estate pro.