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.