Pinnacle Team April 2009 Newsletter

Pinnacle Team Newsletter Inside this issue:

Nadine

Find Your Place in Chicago

Cashing in on eBay

A p r i l

2 0 0 9

Three’s Company 1

2

3

Healthy Condo Associations

3-4

Tapas Las Ramblas

4

Pinnacle 5-6 Team Listings

Hello Friends, April brings us great things - baseball in Chicago, warmer weather, new and improved El stations, and a recovering real estate market. We are feeling great about the status of the market and definitely seeing movement. The Pinnacle Team is excited about this growth and what the spring and summer seasons will bring. On that note, we’ve decided to grow our team

to prepare for the upcoming market change. Ryan and I brought on a new team member, Nadine Shehaiber, in March. We feel that she’s going to be a great addition to our already thriving team. We’ll introduce Nadine in more detail below… Welcome Nadine! For this month’s newsletter, we decided to reach out to some of our clients for tips and information that would be of value to you. We are very grateful to Brad Lazarus, Kathy Gillespie,

and Shirley Feldmann for this month’s contributions. If you have any friends or family that would appreciate the following information, please forward the newsletter or send us their email and we will be happy to send them a copy. Thank you so much for your business and interest in our newsletters. Have a great April and be well! Ryan, Sarah & Nadine

Nadine Shehaiber Nadine comes to @properties after working with Coldwell Banker Residential Brokerage for five years in the southwest suburbs. Nadine’s background in technology, real estate, sales and management consulting, along with an outgoing personality and enthusiasm, has led to a successful and awardwinning career. Nadine makes a significant investment in the

properties she sells. She works with her sellers to optimize the presentation of their home, identify their target market, develop a strategic marketing plan, analytically assess market value, and prepare all marketing materials including brochures, photography, and virtual tour photography. Nadine is originally from Dubai, in the UAE and came to the US twelve years ago. She attended Loyola University in

Chicago. She has also taken management level courses in real estate, international business and finance at Northwestern University. Nadine currently lives in the west loop. She is fluent in Arabic, English, and Spanish. For more on Nadine, please visit: http:// www.atproperties.com/ agent/nadineshehaiber

Find Your Place in Chicago

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interest you pay on your mortgage each year. TaxSmart is also available for home improvement loans. TaxSmart can be used by eligible homebuyers citywide TaxSmart Mortgage Credit to purchase one to four unit Certificate buildings – single family If you’re buying a home in homes, condominiums, Chicago, you can save townhomes or 2, 3, or 4 flats. thousands of dollars in Applicants must meet income federal income taxes with and purchase price TaxSmart, a mortgage credit guidelines. Homebuyers in certificate program offered by non-target areas must be first the City of Chicago in -time homebuyers or have partnership with local not owned a home in the last lenders. TaxSmart turns your three years. mortgage into one that gives you a federal income tax credit equal to 20% of the

a few of these outstanding incentives. To learn more, visit www.findyourplaceinchicago. com.

Building on existing publicprivate partnerships, the City of Chicago and its partners have assembled a variety of resources to maximize benefits for homebuyers and communities. The incentives are available to homeowners across a spectrum of incomes to purchase a home that is right for them. The partnership between the City, philanthropic partners such as the Partnership for New Communities, developers, and lenders makes “Find Your Place in Chicago” a historic initiative that offers a great opportunity for home buyers. Below are details on Income Limits

Non-Target Area

Target Area

1 Person Household

$60,320

$72,384

2 Person Household

$75,400

$90,480

3+ Person Household

$86,710

$105,560

Written by

Lender Incentives The City of Chicago is working with partner lenders to offer special mortgage products to buyers of Find Your Place in Chicago homes. Most developments are eligible for this incentive. Harris Bank will offer the following incentives to buyers: • For households purchasing a home in a target area: a grant of $1,500 to help cover closing costs • For households with an annual income equal to or less than $57,280* purchasing outside of a target area: a grant of $500 to help cover closing costs

• A 30-year fixed-rate mortgage with 3-5% down depending on credit score. NOTE: Buyers are not required to purchase a mortgage through a partner lender. They may still receive other incentives if they purchase a mortgage through another lender. Employer-Assisted Housing Grants Through Employer-Assisted Housing (EAH) programs, various public and private employers in Chicago and the suburbs offer housing assistance grants or forgivable loans to employees who buy homes in certain geographical

Brad Lazarus Omega Advisors, LLC [email protected]

areas. Depending on their employer’s EAH program a buyer may benefit from programs that: • Provide down-payment and closing-cost assistance in amounts ranging from $2,500 to $10,000. • Leverage additional matching funds from the State of for eligible households, depending on household income. • Prepare them for homeownership with a stepby-step homeownership education course. • Help resolve poor credit history.

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Cashing in on eBay Whether you are organizing for a move or just spring cleaning here are some tips on putting extra cash in your pocket. eBay is a great venue for turning your cast offs into cash.

Here are some recently completed listings: Coach "Carly" Handbag $350 7 For All Mankind "Edie" Jeans $90

If you don't already have an Ebay account, the process is fairly simple. Log onto https:// scgi.ebay.com/ws/ eBayISAPI.dll? RegisterEnterInfo and get started!

JCrew Argyle Cashmere Sweater $152

Written by Kathy Gillespie Whimrose Projects eBay store [email protected]

As a long time eBay Power Seller ,I have some insider tips that may be helpful: 1. Name brand items are the most sought after and easiest to sell 2. Be honest with your descriptions, and make full disclosure of any flaws 3. Give all measurements of the item you wish to sell 4. Start listings on Sundays at 5 p.m. PST 5. Start your listings at $9.99 to get the bidding started - early bidding is key

For crafty upscale fashion projects visit Kathy at: www.froogal.blogspot.com

6. Check your listings everyday, and answer questions ASAP 7. Ship as soon as possible after payment is made and be in contact with buyer 8. Don't forget to leave positive feedback to encourage customers to do the same

Healthy Associations

Written by Shirley Feldmann Association Advocates, Inc. Shirley@associationadvocat esinc.com

In today’s competitive real estate market, a smart buyer will be assessing more than just the size, amenities, location and cost of their new home. A well-run association with stable finances and efficient management procedures will quickly surface to the top as a better investment—for both sellers and buyers alike. Every association should be run efficiently like the

multi-million dollar corporation that it is. If not, it could negatively impact all owners by decreasing the value of what may be one of their largest investments. Take the approximate value of each unit in the association and add them together to get an idea of the value of the property. For example, a 20-unit association at $250,000/each would have an approximate

value of $5 million, which could be considered a large business to manage in any industry! An association managed like a well-run business will provide a better return on investment. Improperly managed associations run the risk of budget shortfalls, unanticipated special assessments, inconveniencing owners and developing a poor industry reputation.

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Associations, cont. • Healthy Reserves held in a separate interest-bearing account

Checklist for a WellManaged Association:

(Note: If low Reserves, it is possible that a large repair project was recently completed.)

• Regular and organized board meetings with agendas

• Maintenance Plan is in place for annual and longterm needs

• Typed, well written and concise minutes documenting board decisions

• Well-maintained common areas

• Decisions are made by the Board and not by a consensus of all owners

• Rules & Regulations are in place and enforced consistently

• Budget is not unrealistically low and includes a monthly transfer to Reserves

• Low delinquencies and strict enforcement of Collections Policy

• High owner-occupancy • Responsive, communicative and knowledgeable Board & Property Manager (if applicable) Association Advocates Inc. helps homeowners protect their investment and specializes in Board & SelfManagement Training, Developer Turnovers, Management Searches & Transitions, and Project & Loan Management. To learn more about how Association Advocates can help your association or for many free resources available, visit: www.AssociationAdvocatesIn c.com

Tapas Las Ramblas Sarah Lawrence This wonderful tapas restaurant is brought to you by a former partner of Twist. After studying in Spain for a summer in college, I became intimately familiar with good tapas-style eating. While there are many tapas options in the city, I found Twist (in Lakeview/Wrigleyville) to be my all time favorite for its quality, price, and ambience. A friend who lives in Andersonville turned me onto Tapas Las Ramblas, and now it’s right there up there on my list of favorite tapas spots. Tapas Las Ramblas has a menu with wide variety. Some favorites among my group of 4 included: baked goat cheese, grilled

vegetables, bacon wrapped dates, and grilled lamb chops. We finished the meal with the carmelized banana and ice cream, which was heavenly. This restaurant has it all – it sits amid the hot Andersonville strip, has a fun and inviting atmosphere, is a great value, has great service, and serves consistently delicious fare. You can expect to pay about $25 - $30 a person with alcohol. The neighborhood: Andersonville, an old Scandinavian neighborhood, lies just north of Uptown. Its borders are loosely defined by Lawrence Avenue

on the south, Peterson on the north, Broadway on the east, and Damen on the west. Andersonville is comprised of restaurants, boutiques, bars and both walk-up condos and single family homes. There are currently 65 2 bedroom/2 bath units on the market that range from $229k to $479k, with the average being $350k. There are currently 47 single family homes on the market that range from $449k to $2M, with the average being $700k. 5101 N. Clark 773.769.9700 www.tapaslasramblas.com

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Pinnacle Team Listings NEW! 4022 N. Monticello, Unit G - $174,900 Beautiful 2 bedroom garden unit on a tree lined street in popular Old Irving! This fabulous split floor plan condo gets great light and features hardwoods throughout, w/d in unit, Jacuzzi tub w/ glass door, and plenty of closets w/ additional storage in building. Street parking is a breeze, the trains are a short walk, and the expressway is just minutes away. Great outdoor space out back door. Well managed bldg. http:// www.atproperties.com/listing/7171825 NEW! 720 Fairmont, Westmont - $449,900 Like new construction, 4 bed/2.5 bath townhome. Located on a quiet cul-de-sac, it boasts gorgeous high end finishes throughout. Huge, open, fully finished basement with rec room and bedroom. Main level master suite with walk in closet. Family room with fireplace, eat-in kitchen w/ stainless steel appliances, separate dining room. Second floor has 2 bedrooms with a full bath and office area. A must see! http://www.atproperties.com/ listing/7182513 th

NEW! 10832 S. 76 , #2J - $169,900

Gorgeous, bright and exceptionally maintained 8 yr young condo has it all! 2 bed, 2 bath, huge family room with fireplace, spacious in-unit laundry room, large closets, 1 car att. Garage with storage space, and additional parking in back. All oak kitchen with island. Open, airy floor plan w/ beautiful view of trees. Enjoy the outdoors on extra large balcony! Quiet area, newer building. http:// www.atproperties.com/listing/7179806

2629 N. Dayton, #1N - $599,900 - Open House 4/19 11:00 - 1:00 2100 square foot 3 bedroom/3 bath duplex down in a fantastic location. Living room with fireplace opens to kitchen. Kitchen with granite and stainless with eat-in area and breakfast bar. Oak floors throughout main level. Master with walk-in closet. Lower level with huge family room with fireplace, 3rd bedroom, bath, laundry room with side-by-side W/D and tons of storage. Includes a private deck and garage. Convenient walk to everything! Freshly painted and carpeted. http://www.atproperties.com/listing/7154914 PRICE REDUCTION! 3443 N. Lincoln, #4B $419,900 This is a 4-year-old condo that looks brand new! With 2 bedrooms and 2 bathrooms, this stunning condo has it all – open floorplan with a huge kitchen that boasts granite and stainless steel. Other amenities include a wood-burning fireplace, balcony, side-by-side washer dryer, rooftop deck, and heated garage parking. This particular niche of Lakeview has exploded in the last couple of years and is now surrounded by great restaurants, new condo buildings and a brand new Paulina El stop just a block away. http://www.atproperties.com/listing/7132766 SOLD in 13 DAYS! 1148 W. Roscoe, #3W This extra wide, sunny 2 bedroom/2 bath unit is in an unbeatable location and only steps to the Southport corridor, Wrigley, and public transportation. Built in 2005, this unit has it all - a kitchen that boasts stainless steel, granite and a large island, open living/kitchen combo, large bedrooms, in-unit W/D, balcony, great storage, and garage parking. http:// www.atproperties.com/listing/7154898

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Pinnacle Team Listings PRICE REDUCTION! 5140 N. Albany, #2 $280,000 Welcome home! This 1400+ sq ft 2 bed/2 bath condo offers everything, including hardwood floors throughout, washer/dryer, garage parking, etc. The separate dining rooms is perfect for entertaining and the living room is expansive with loads of windows and natural light. Deck access through kitchen. Located in a cul-de-sac, this location is close to Lincoln Square and steps from a great park. The large gated lot is a dog owner’s dream. Check out the room sizes! http://www.atproperties.com/ listing/7145078 4434 N Racine, #1N $384,900 - Open House 4/19 1:00 - 3:00 pm This exquisite, 1700 sq. Ft. 2 bedroom, 2.1 bath condo features a spacious layout, contemporary finishes & classic vintage charm thru-out. New gourmet kitchen opens to formal dining room w/ original built-in hutch & walk-in pantry. Back deck extends off kitchen/dining, great for entertaining. Bright sunroom leads to huge living room w/ fireplace & attached bookcases. Both bedrooms feature private baths. washer/dryer in unit, garage parking & private storage are included! FHA Financing Available! http://www.atproperties.com/ listing/7118582 PRICE REDUCTION! 6400 N Sacramento 5 Units $139,400 - $199,400 These wonderfully finished 1 & 2 bedroom, 1 & 2 bath condos offer luxury and affordability. The intimate 16 unit building offers parking included in the price, storage, and an elevator. Each condo is finished standard with double ovens, marble baths, Kohler fixtures, granite counters, central heat & air, oak floors, 42” cabinets, and Jacuzzi tub. Exceptional value! FHA Approved! http://www.atproperties.com/listing/7118931

http://www.atproperties.com/listing/7118958 http://www.atproperties.com/listing/7118942

For our commercial investors, we also have a storefront for sale: http://www.atproperties.com/listing/7118973 PRICE REDUCTION! 1528 W Jonquil, D3 $289,000 This amazing 2 bed/2 bath condo is just under 1500 square feet. Built in 2005, this 6 unit building is on a beautiful tree-lined street on Chicago's northern edge. Just steps from the beach, the red/purple line, Evanston, and Jarvis Square, this Rogers Park find is one of the best deals in Chicago! Featuring hardwood floors throughout, cherry cabinets, and garage parking - this condo is ready for its new owner! FHA Financing available! http:// www.atproperties.com/listing/7098410 PRICE REDUCTION! 1060 W. North Shore, #1 - $224,900 Rare opportunity to live lakeside! Vintage charm with modern updates and only 60 steps to the beach. Large 1 bedroom with sunroom that could double as an office/guest room. Separate dining room and large living room that is wired for surround sound. Hardwood floors throughout, updated kitchen with newer cabinets, and stainless steel appliances. Tons of build-ins throughout. Two custom closets in master. Parking included. FHA Financing Available! http://www.atproperties.com/ listing/7096852