If the answer is “Yes” to either of those questions, then this blog may be a great resource. My personal journey of selling/buying a home was completed on June 7th, 2007, however, the housing market has gone from bad to worse.

If you’re a home seller looking to share your stories, experiences, or ideas regarding the current, past, or future process of a selling a home, please fill out the contact form and let us know! There is no fee or experience required, just your ambition to write about your own journey. This site could be the reason why your house sells! It was for me!

If you’re a realtor looking for another way to spread your knowledge of what it takes to sell a home and willing to contribute to this blog, please also fill out the contact form. Who better knows the industry than a realtor?

Any contributor will be able to place an advertisement of their current property on the website (free of course) with all the details (sample). For realtors, any marketing material will also be allowed.

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The grand finale came to a close on June 7th, 2007 (our closing date for our home and our new one). We had spent a few weeks prior getting packed up and organizing every possible item we owned (you never know how much you own and have collected until you move..). The big move-out day was June 6th, 2007. We chose Dibble Moving and Storage in Lombard to complete the process of moving out and moving in. This was our first time using a professional moving service, especially since there seems to be such a negative connotation regarding the industry. The company said they would be on-site at 8:00 AM. They showed up at 7:45 AM. In three short hours, everything was out of the house and on the truck. I was amazed that three people could do it that fast. After the moving company left, I cleaned up the house so it was spotless for the buyer’s final walk-through. At 4:00 PM that day, my wife and I went to the final walk-through of our new home and found one of the items we wanted fixed (per the home inspection report) was not done to our liking or code. We indicated this to our agent and he called the seller’s agent immediately. Then we walked out the garage and tested the garage door. Unfortunately, it broke when we closed it. Great, another issue. I told our agent that this needed to be dealt with in order to close the deal. This was a bit tense, especially the day before closing.

Seeing as our current home was completely empty, we decided to stay the night at one of our family members home. The next morning we got up and went to our closing for our current home. In 40 quick minutes, the deal was done. Our house was sold. Unfortunately, we had to wait until 3pm for the other closing, so we were both technically homeless. I went to work as my office was five minutes away from the title office (on a vacation day..) and got some work done and returned some phone calls that were urgent. It quickly was 2:30 PM and I made my way to the title office.

I was a tad nervous about the closing for our new home. I knew we had some issues to deal with and was nervous that the seller’s agent/attorney would create some problems and make the closing go forever. I was wrong. Once again, the closing took 40 minutes. We were all done and had the keys to our new home. Since we had the movers keep our stuff on the truck overnight, I had to call them to let them know the closing was completed. I gave them a call and told them we were done. The dispatcher said, “They’ll be there in 20 minutes”. I figured this was almost impossible seeing as I just gave them notice. They showed up in 25 minutes. I was really impressed and they got started quickly. In three short hours, they had everything in our new house exactly where we wanted it. The day finally ended at about 8:00 PM and it was a good one.

The next morning we got up and started to provide some normalcy to our home by unpacking. We also had some new furniture coming and wanted to have some things cleared out before that showed up. By the end of the weekend, we pretty much had the house the way we liked it. We still have to put up some pictures and tend to smaller items, but for now we are all set.

We had some minour issues with Comcast (our phone, cable, and internet provider). They should up an hour late (outside “their” four hour time window) and they couldnt get service when they came. The next morning a technician came out to install a new line to our house and a second technician came that afternoon to get everything up and running. You don’t know how bored you can get without TV.

We’re just getting to know some of our neighbors and adjusting to our new living space. One thing is for sure, I’ll try to avoid moving again if at all possible…

Technorati Tags: Chicago Real Estate, Illinois Real Estate, Home Seller, Buying a Home, Selling a Home

I have to say, we’re going to miss our home. It was our first and we loved it. Each day we walk around the house, look out a window, or simply sit on the patio and say, “This is the last time we’ll look out this window, walk down this hallway, or sit on this patio..“. I know that sounds a bit weird, but there is always an emotional attachment to the biggest asset you own. While we’ll miss our first home and always remember it, we’re definitely excited about our lives in our new home.

We have a few more things to do to get ready, but everything should be aligned after this weekend.

Well, things have been picking up and as we near the date of the closing, it will only get busier. I’ll try to keep this blog up-to-date regarding new information as time allows.

Technorati Tags: Buying a Home, Selling a Home, Illinois Real Estate, Chicago Real Estate

This can appear to be a little intrusive, however, you’re not borrowing fifty bucks. Instead, you’re borrowing hundreds of thousands of dollars over an extended period of time. The lender cannot predict your future, however, they can verify your past. Fortunately for us, this isn’t an issue and its just a matter of providing documentation and writing our signatures and initials on a multitude of forms.

I always thought that this was the normal process in obtaining a mortgage. You provide every piece of your financial information and thus you get approved/denied. A while back, our mortgage broker told us that some individuals provide stated income vs. documented income. In essence, this means (and please correct me if I am wrong) you state your financial position and your mortgage application is reviewed based on that information. I couldn’t believe that by simply stating your income, you could get approved for a mortgage, however, this seems to be an accepted measure in the mortgage industry.

Initially, I thought this was part of the subprime lending issues and a good way to end up in default or even foreclosure, however, its for real.

I was reading a post today from Kit Mueller regarding how Illinois is trying to abolish the stated income applications, however, Kit makes a good point as to why this should be accepted for some situations. I’m not sure how this will effect the industry, but its something to think about when conducting a mortgage application.

Technorati Tags: Mortgage Application, Stated Income, HB 1478

1. Have an idea
2. Buy a domain name (or use one you already own)
3. Develop a blog, share your experiences, and treat it like its a blank canvas.

Simple right? For some, yes. For some, no.

As a primer, I work in the technology industry for a government entity and have been doing a lot of research on the utilization of the Internet and Real Estate on my own time. Besides, I was involved in selling/buying a house so the best place to start in today’s age is the Internet. Just using Google will give you a ton of insight on the real estate industry as well as any other subject you choose. So here goes…

Most of us (non-real estate professionals) work for some sort of company or organization. There are various departments, levels of responsibility and duties. Each person contributes some sort of expertise to drive the success of the company or organization to a profitable bottom-line. In short, you contribute your own knowledge per a certain focus to help the company develop and maintain a steady profit. Now imagine, that you worked for yourself to derive a profit for your business and put food on the table for your family. Realtors do just that everyday.

A realtor may work for a large brokerage, however, they are essentially self-employed professionals. In essence, what they bring in is what they earn. If they do not generate sales, they do not generate revenue. Unfortunately, that’s the reality of the business.

Okay, what’s my point? In short, realtors are not just using technology, they are determining it. How you ask? Well, just think of blogs. Okay, now think of companies that are using blogs? Probably a short list. If you do follow the real estate industry or are in the real estate profession, you’ve seen the true value of utilizing Web 2.0 (blogs/podcasts) to generate business leads and strengthen the knowledge of the individual. Those who are “in” are leaders and those who are “out” are simply trying to catch up.

We’ve all heard about Web 2.0. Well, there was a Web 1.0 and a Web 1.5. Web 1.0 was the evolution of websites. Static information, images, and links to associated information. Then came Web 1.5 that extended Web 1.0 in the utilization of using dynamic web sites that connected to databases and allowed for credit card transactions, etc. Today, we hear of Web 2.0 which is a fundamental basis of the previous from an indiviualistic point-of-view. If you pay attention, you’ll even hear about the inception of Web 3.0 that is focused on the end-user determining what content and resources are applicable to their usage. Don’t think so? Well, Google and every other majour search engine thinks so and has further scaled their developments to make searching on the Web easier and easier for the end-user to gain the knowledge and resources they require.

So what’s the buzz on realtors? In short, they’re trailblazers. Instead of utilizing “just another website” to promote their business objectives and expertise, they’re fully using the methodologies behind Web 2.0 (blogs/podcasts/RSS) to further promote the services they provide. There are a slew of articles about companies/organizations using blogs and podcasts to promote the mission, vision, and communication structure of their business objectives, however, real estate is the leader.

How? Well, with the inception of the Internet came companies focusing on using it to promote their services. Just think of Realtor.com and the MLS being on-line. Homes and related pictures, information and contacts were all now visible from the comfort of a users computer. For some real estate professionals, they’re going a step further. Instead of just having their listings online and a basic profile page on their brokerage’s website, they are creating their own blogs (and even podcasts in some cases) to separate themselves from the rest of the competition.

Today, most consumers use the Web for just about everything. Five years ago, consumers thought that buying things online, checking their banking information, and paying bills were something more risky than investing in Enron. Today, however, we do this without even thinking. We have our websites saved, login/passwords memorized, and know how to use Google like we know the alphabet. While this may be simple to us, the real estate industry has grasped this (probably more than any other industry) and seen the multitude of benefits of using the Internet to gain leverage in grasping further business from consumers.

There is Myspace.com and Facebook.com, but there is no better social network for a specific industry than ActiveRain.com. Think of a perfect social network (myspace.com) for work purposes and I’ll show you ActiveRain. No, I have no reason to promote them or have a business interest, but I’ve seen the true value of using Web 2.0 methods in perusing their site. I cannot say its perfect, but it does the job for realtors looking for a simple way to further communicate to consumers and utilize blogging.

Those who use it would probably say its brought further business in their respective area than those who disregard it. Many have also become leaders in the industry by simply communicating their knowledge to others in the network if not learning about other methods to develop their business.

I’m not exactly sure where the Web is headed (Web 3.0), but its a sure bet that the real estate industry will be the leader in helping it become what Web 2.o is now. Stay tuned…

Technorati Tags: Real Estate Blogs, Blogging, Podcasts, Realtors, Web 2.0, Web 3.0, ActiveRain

We also found a mover today. I was also nervous about this (regarding cost), but in the end, it was a lot less than I estimated. I also did some intense homework on the company and found a lot of credible referrals. The estimate was done by the president of the company and he was very friendly. Hopefully, everything works out as planned.

Technorati Tags: Home Inspection, Flat Roof, Roofing Contractor, Buying a Home, Chicago Real Estate, Illinois Real Estate

Some have asked what the future holds for this blog. Actually, I’m not sure. This isn’t a site developed for a profit in mind or for any other motive. Its a site from someone who was trying to sell a home and hopefully a future place for those selling in the future to gain knowledge. If possible, I’d like to have other home sellers (regardless of geographical area) share their own stories and knowledge regarding the sales process. Maybe even other realtors and home stagers if interested. Besides, that’s the beauty of blogging…its your own area to share your personal journey. Below are a few quick notes of thanks:

Fran Bailey: Fran, this whole blog derived from your idea. I never thought it would be an area for me to share my own story or for others to gain knowledge, but hopefully it has. You’ve been an asset to the Web 2.0 age of Real Estate and you’re a true professional. I greatly appreciate all the information you shared and the ideas you gave me.

Craig Schiller: Craig, you were one of the first people I met when I began to research about selling a home. I sent you a few pictures and asked for your advice. You responded to me the next day and even touched up the pictures I sent. If not for you, we never would have understood the whole premise of home staging and what a home should look like when you sell it. You’re a true professional. I didn’t use your services and probably didnt have the budget to do so, but you never asked for one cent and provided every possible tidbit of knowledge per your expertise. I wish you nothing but the best and will definitely always recommend you (and have) in the future.

Laurie Manny: I first met you on a few blog posts I submitted and often times I was ignorant about the real estate industry. Instead of creating a tense situation, you responded in a courteous and professional manner. You helped me gain insight to the industry and showed me the real intangibles that agents face in the industry. You always provided an insightful answer to every question I posed. If I’m every looking to buy in California, you’re the only agent I’ll ever use.

Geno Petroche: Geno, where do I start here? Besides someone who should write their own book or become a journalist, you always indirectly provided me with great knowledge (and humour) from your blog. My wife and I read it daily and love it! You never scoffed at my questions or looked at me as just “another consumer” who didn’t know the industry. Instead, you proved your status as one of Chicago’s best agents and your knowledge of the industry is a huge asset. I’d love to come back to Chicago and move into the neighborhood I grew up in and if I did, you’d be the first person I would call. I wish you and your family nothing but the best in the future.

I know I may be forgetting others, but this a debt of gratitude to those who helped us along in this endeavour. Thanks to everyone who helped us along…

I’ve made a few phone calls to area movers (some called, some did not), called PODS, and even called around asking about renting a truck. To be honest, I dont want to deal with the work of moving and want it to go as seamless as possible. I’d like to depend on friends, however, they all are married and have kids and schedules are not as flexible as they were a few years ago. Still, the option is there as its always cheaper to use friends. I called PODS as it seemed to be the “new” way to move and put things in storage, but I’d still need help to get things in and out and I’d still have to depend on someone else picking up and delivering the “pod” from old location to my new one.

I’ve pretty much decided to go with a professional moving company and I have a couple of appointments tomorrow regarding a good estimate. I know the prices can really range in difference depending on who you use, but I got a little nervous about moving when I found the website MovingScam.com. It really made me nervous as there seems to be a lot of problems and issues when using a moving company. The worst part about it is that they have your stuff on the truck and if there are any issues regarding payment, you have to pay the discrepancy in order to get your stuff. That can be a real problem if you’re working with a company that operates in this fashion. Unfortunately, it seems to be a popular trend.

Yes, I’ve heard the term “You get what you pay for”, but then again, I don’t want to spend a fortune on moving expenses. Honestly, I do not have all that much stuff and I am only moving approximately 3 miles from my current home. I called a moving company in my area and they are coming tomorrow for an onsite estimate. The other one I called does not do estimates and they charge by the hour for 3 guys and a truck. That made me a little uneasy especially when I asked if they did onsite estimates. The person said only for long distance moves, but I would think a reputable company would always do an onsite estimate regardless of the distance. There is one other large company I’m trying to get a hold of, but I’m still playing phone tag. I’ve also been checking the Chicago Better Business Bureau records for information on the companies I contacted and have only seen a multitude of issues with one company.

My ideal goal is to have the movers pick up all my belongings the day before closing and keep it overnight. Then, close on both properties the next day and move everything in. I’d really like to use a professional company as they are insured and experts in the process of moving, but right now I’m not so sure that is going to happen. I hope the company that comes tomorrow gives me a good price and estimate and I can just use them. If not, it looks like I’ll be calling the friends and U-Haul again.

If anyone has any referrals for moving companies in the Chicagoland area, please leave a comment. Any other advice regarding moving and negotiating with moving companies is also much appreciated.

Technorati Tags: Moving, Selling a Home, Buying a Home, Chicago Real Estate, Illinois Real Estate, FSBO, Moving Companies

I knew not to ask the home inspector about this as its not his job to negotiate. He’s just there to provide an honest assessment of the home and let us know what issues exist and what may be a potential issue in the future. We kind of felt out our realtor about what we should really ask for in the letter from our attorney to the other buyers attorney. We dont want to blow a deal being forceful about repairs, but we want to make sure we are not buying a house that is nearly brand new, however, may have minour flaws that result in thousands of dollars.

We asked our realtor about what we should request in the report. He never mentioned a particular item to be repaired or to be documented in the letter, however, he brought up one great point. In short, his reasoning was not argue over a few hundreds of dollars, instead document things that could end up in the thousands of dollars. Okay, that makes sense, but I’m not a construction person and have no idea what costs what. We were hoping he would give us an idea of what we should request in the letter, however, he told us to speak to our attorney as he would have better insight regarding these items.

Okay, fine. My only fear was that our attorney would simply ask us what we wanted in the letter. No surprise, but the phone call from our attorney the next day was just that. Fortunately, the night before, my wife and I documented the most crucial items we would like to see addressed. I provided these (a total of 5) to our attorney and he drafted and sent the letter on Wednesday.

We have not heard anything yet, but its my assumption that the seller will respond with a “NO” answer to all our inquiries. This is where things will get hectic, but we’ll see. Personally, I would do the same thing, however, I just dont want to be standing with a pile of bills totalling thousands of dollars a year later.

Technorati Tags: Buying a Home, Real Estate, Chicago Real Estate, Illinois Real Estate, Selling a Home, FSBO

First, we sold our house (of course its not sold until closing), but we accepted an offer and had the home inspection. I thought it would never happen, but we’re glad it did. I was fortunate enough to briefly meet the new owners of our home when they came for their first showing. I actually thought it was going to be a no-show, however, the door bell rang and thus I had a showing. I was going to leave, but the realtor (who was very nice and friendly) said I could stay. That was good as the Cubs game had just started. I didn’t want to get in the way and I know people probably find it annoying when the owner is present at a showing. I answered some questions (I think) and provided some of the best facets of the house (without trying to be a sales person…at least I hope not..).

A couple days later we had a second showing. We were happy, but we’ve had second showings before with no follow-up. We left the house a bit early for our volunteer duties and the people came and went. Later that evening our realtor called and said there was an offer. We were excited, however, these were unchartered waters for us. We eventually came to an agreement and thus everything was in motion. Later the next week, we had our home inspection with only two minour issues that we agreed to take care of on our part. Right now, we just have to wait until closing.

To be honest (and after briefly meeting the buyer) we were so happy about how this all transpired. Everyone says not to make a real estate transaction an emotional one, but when the buyers came for the first showing, it reminded me of my wife and I looking for our first home. Its a difficult and an important decision, but we hope they enjoy it as much as we have over the past few years. Its going to be a bit sad leaving our neighbors whom we have become so close with as friends. I dont necessarily mind moving, however, I wish we could bring our neighbors with us. They are the nicest people in the world. I hope all goes well and thus far, it has.

Second, our home buying process has extremely changed. We were supposed to move to the East Coast due to a recent job location transfer, but after really thinking about it and knowing my wife wasn’t all that on board, I decided to see if I could get the relo cancelled. After a lot of paperwork (ahh the joy of working for a government agency) and some favours I “remarkably” remembered were owed to me, I was able to stay in Chicago. Its nice to stay especially seeing as we’ll still be with our families instead of using email or Skype to communicate. Thus, we had to begin looking for a new home in the Chicago area.

If you’re like me, you’d rather be watching the Cubs game or an NBA playoff game versus looking for houses. So much out there and so little time. Fortunately, after two days, we found “that house” and put an offer in on it. The seller accepted and we have the home inspection tomorrow. I just hope it goes well and without any issues. I’ll try to be more diligent on posting in the upcoming days….

Technorati Tags: Buying a Home, Real Estate, Chicago Real Estate, Illinois Real Estate, Selling a Home, FSBO