"You've Caught the NET!"

Hey, from Chicago, folks!

In today's edition of Chicago Neighborhood News, our Team Member Cathy Mallers explores the Chicago Neighborhoods of Norwood Park, Lakeview, The West Loop, Lincoln Square, and Old Town, as well as the Chicago Suburb of Oak Park IL.

Got something going on in Chicago you like us to help publicize for you and your group?  Please let us know, and we'll help you spread the word.

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NORWOOD PARK

At just 87 years young, local resident Cecilia Jakubowski relishes her first time as a celebrated artist for the Norwood Crossing 7th Fall Annual Art Exhibit.  As a Norwood Crossing resident, 20 of Cecilia's paintings were shown earlier this winter in the Northwest Café at the Norwood Park METRA Train Station.

"This is my first art show, and I was surprised when I was offered the opportunity for my own show," said Cecilia.  Cecilia is a member of the Norwood Crossing Expressive Arts program where she's learned to fine tune her artistic talents.

LAKEVIEW

Don't forget about Third Thursdays on Southport.  From 5pm to 8pm, you can join local merchants along Southport Avenue between Belmont and Irving Park.  The Third Thursday of Every Month, you can enjoy appetizers, complimentary beverages, discounts, freebies and much more.

Join in on the fun that's sponsored through Shop Lakeview.

THE WEST LOOP

Now this is going to be some performance.  This Friday and Saturday the Merit School of Music will feature more than 360 of their most advanced jazz and classical students.  The "Performathon" is celebrating its 29^th year.  There is no admission fee for the event which runs from 7am-8pm on Friday, February 19 and 8:30am-7pm on Saturday, February 20.

Students are accepted into the school's Tuition-free Conservatory (TfC) through auditions.  Not one student pays tuition as costs for this esteemed program are fully-funded by the program's generous donors.

OLD TOWN and LINCOLN SQUARE

Just up the street from the Dean's Team World Headquarters, the Old Town School of Folk Music filed an application for a new building on vacant land at 4543 N. Lincoln.  The structure would include dance studios, classrooms and a 133-seat performance venue. 

The total cost for this expansion is estimated at $18 million and groundbreaking is expected to begin later this year.  Scott Hargadon, a past board chairman and current board member, said, "To have music and dance classrooms built specifically to our needs with soundproofing and sizing would be a tremendous asset for the school."

The Old Town School of Folk Music has venues in both the Lincoln Square and Old Town Neighborhoods of Chicago.

OAK PARK IL

It's a Neil Simon classic but with a special twist.  In its final week, Village Players Theatre showcases Lost in Yonkers, presented by the Oak Park River Forest Community Foundation in association with Community Bank of Oak Park River Forest.

The local reviews have been fantastic. The play runs through February 21^st, so be sure to get your tickets now.  And if you can't see this amazing run, be on the lookout for A Chorus Line coming in March.

Here's a link to Cathy's Chicago Neighborhood News Blog Archive, via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

Hey, folks! 

Came from Chicago, down the Mississippi to New Orleans, LA . . . for the Keller Williams Annual Agent Conference, Keller Williams Family Reunion, 2010. All set to be educated, motivated, and inspired.

My headline today - you consider it Heresy?  Disrespectful?  Insensitive?

Repeating again . . .

YOU DON"T ALWAYS NEED RELIGION!  But You've Gotta Have FAITH!

So often, during tough times, and through the course of history, folks have relied on their Religious Faith to get them through tough times.  The Faith in a Spiritual Being more powerful than themselves.  Ever Present.  Omnipotent.

And, for many, the power of their religious convictions pulled them through rough seas, and on to the serene shore beyond.  Nearly without exception, tough times stabilized.  Struggle turned to success.  And success evolved into a flourishing, lasting business.

But not everyone is religious, you see.  I am not, never have been.  The same is true for millions of others, worldwide.

However, many of the non-religious find success.  Because they have FAITH!  Faith in themselves, faith in others.  Belief in the power of the positive, and the interdependence of those you love and those who love you, to get them through the tough times.

Over the last couple of years, Real Estate has been an up and down business for me and our Real Estate Team.   Months of "the high," sometimes followed by the depths of a weak Chicago Real Estate Market.  We have lost several Team members. 

And, these days, it seems you have to work twice as hard to earn half as much!

Perhaps you know of others in the same situation.  Or, perhaps YOU are riding in the same boat.

Opportunities for buyers, stronger than in recent memory due to dramatic fall-offs in home and condo pricing in every price range.  Disappointing results for Listed Properties due to incredibly high market times, lower eventual sales prices, heightened stringency for credit approval and appraisal, and fallen deals.

If times are tough for you . . . how do you find FAITH?  Do you look to God?

Or . . . do you find it inside?

I've gotta know!  We all do!   Can you share?

DEAN & DEAN'S TEAM CHICAGO

THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!

Hey, you dogs!  Of course, with today's high unemployment rate - nearly 11% here in the Chicago Area - I'm sure hoping all you reading my posts are gainfully employed!

What?  Are you a victim of a "temporary cutback."  A "necessary furlough?"  A "corporate restructuring?"   Unsure if your career is reaching its dogleg?

Is it tough to keep bones in the bowl these days?

Well, Chicago Mayor Richard M. Daley might have an opportunity for you - if you have the right stuff that is. 

According to a Staff Report in yesterday's Chicago Tribune, our mayor is looking to name two Chicago Aldermen.  Two spots need be filled in the Chicago City Council - in the 1st and the 29th Wards of Chicago.

In the 1st Ward, current Alderman Manny Flores was recently appointed by IL Governor Pat Quinn to head the Illinois Commerce Commission.  Alderman Ike Caruthers, in the 29th Ward, was forced to vacate his Chicago Aldermanic Post last month after pleading guilty to tax and bribery charges in Federal Court.

You an interested dog?

TODAY, you need to send your resume, a cover letter, and three letters of recommendation via the City of Chicago Website.  You must have lived in the Chicago Ward you are interested to govern in for at least one year.  And you must be free of any potential conflicts of interest, not be in debt to the City of Chicago, be current on all taxes, and . . . uhhhh . . . have no criminal record.  (For some here in Chicago, the last item might be the most challenging!)

To qualify, you must not currently hold any other elected or appointed government office.  And you must be registered to vote.

Well . . . you in?  Hit the web!

And don't worry, the City of Chicago says Political Clout will not be a factor in their decision.

Skeptical?   Naaaaaah!!!!!

Please peruse my post today via BlogChicagoHomes.com.

YOUR ACE REPORTER ON FOUR PAWS,

BUDDY HOLLY MOSS &  DEAN'S TEAM CHICAGO

THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!

Hey, you dogs!  I figured I would check out my latest Playlist on my Doggie Pod.  Unfortunately, it seems, the headband on my ear buds are a bit too big.  Guess I will have to make an adjustment!

All my life, I have been a Chicago Dog.  Proudly!  Well, except for the six weeks of my puppy hood I spent in Joliet IL, near The Big House - before  I got sprung.

And where do I live?   In Casa Moss, of course - the Historic Chicago Bungalow of our Human Team Leaders Dean & Sue Moss, in the South Edgebrook Neighborhood on the Northwest Side of Chicago.  

 The Moss home is a proud Chicago Bungalow, indeed!  Two courses of yellow brick, in a long-lost Checkerboard Pattern.  Stained Glass Bay Windows.  Hardwood Floors throughout.  Formal dining room, modest living room, and just enough kitchen.  Four big bedrooms - unusual for homes built in Chicago in the late 1920's (our home was completed in 1929).

 It's not yet a Certified Historic Bungalow, but we are working on that, and the home has all the requisite earmarks and distinctive features intact.  It's one-and-a-half stories, original roof line, all trim intact, detached garage (added later), and full basement - originally for coal storage, but now partially finished.  The home sits on a Standard Chicago 30 x 125 lot.

Drive down our street and you'll see bungalow after bungalow - just sitting there, like freshly-made loaves of banana bread right out of the oven!

Again in 2010, the Historic Chicago Bungalow Association reminds owners of these historic, but often unsung Chicago Homes the opportunity to preserve their homes, maintain its value, and also improve it for better livability and energy efficiency.  Check out their website - ChicagoBungalow.org for more information.

This years HCBA Seminars will emphasize cost-effective, inexpensive improvements ranging from overall remodeling, keeping the overall bungalow motif intact, to green improvements, to landscaping, and masonry repair. 

Seminars in several parts of the city over the coming weeks will focus on "Going Green to Save Green."  Speakers from Commonwealth Edison, the area's Electric Utility, the Chicagoland Natural Gas Savings Program, the Midwest Energy Efficiency Alliance, and a large regional mortgage company will discuss ways of making your bungalow more energy efficient.  The lender will discuss ways of financing these improvements in a tough credit environment.

A HCBA Representative will also discuss a number of financial incentives available from the City of Chicago and the U.S. Government which would write down the cost of improving your Chicago Bungalow.

The next seminar on the North Side of Chicago is scheduled for Monday, February 25th, at the West Belmont Branch of the Chicago Public Library, 3104 N. Narragansett Avenue.  The HCBA Phone Number, for more info, is 312-822-0505.

Well, you dogs, I guess I better get my Nail Gun ready.  This Spring, our Historic Chicago Bungalow is going to get a sprucing up!

Please read my post today via BlogChicagoHomes.com.

YOUR ACE REPORTER ON FOUR PAWS,

BUDDY HOLLY MOSS & DEAN'S TEAM CHICAGO

You wanna live in Downtown Chicago or The Chicago Loop?  Desire to rent, rather than to buy?

Likely, you're going to save a lot of money by renting downtown! 

In 2010, in excess of 2,200 new rental units will be added to existing rental inventory in and near The Loop this year.  This is on top of the nearly 1,300 existing rental units in or near Downtown. 

Also, condominium units available for lease, after another difficult selling season for their owners, have flooded the market in Downtown Chicago.  For the 12 month period that ended June, 2009, nearly 4.500 condo units were leased to renters.  Today, more than 1,700 condo units are being listed for rent in online classified sites such as Craigslist and HotPads.

The estimated 10% oversupply will lead to high vacancy rates in many downtown buildings, according to Ron De Vries of Appraisal Research Counselors, as reported by Mary Ellen Podmolik in today's Chicago Tribune. 

To quickly rent out vacant units this spring, landlords are likely to steeply discount rents.  Already, rents are at their lowest level in five years in the most pricey rental buildings downtown.

Often, however, landlords don't stop there! 

Many lessors are throwing in free parking with their new leases, waived or greatly reduced security deposits, even vacation travel or free flat-screen HDTV's as an incentive to rent their units.

In Downtown Chicago, the lowest rents for one-bedroom apartments are in the West Loop, and parts of the South Loop.  The best value in two-bedroom apartments is in the West Loop.

A number of trophy rental residences are opening this year in The Chicago Loop, The West Loop, and River North.  These larger rental towers comprise the lion's share of new rentals coming to market in 2010.

After this year, the completion of new rental buildings is expected to decline considerably.  This reduced supply is expected to be felt in the rental market in 2012, when average rents may tumble as much as 8%, according to Appraisal Research.

Please read our post today via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

From Chicago - the land of expensive on-street parking, $100 red light camera citations, and now-more-infrequent CTA Bus Service - comes a new technology designed to generate more municipal and county revenue.  The technology -

LIDAR - Speed Guns that work with high-tech Laser Beams, rather than old-fashioned Radar Waves - will now be allowed as evidence of Speeding Violations in Traffic Courts  across Cook County IL, the county in which the City of Chicago is located.

In the City of Chicago itself, however, the jury on LIDAR Guns is still out.  The city's Law Department is having its own hearing in March to determine if the newer, but not brand new, speed detection technology is admissible in Chicago Speeding Cases.  However, the Cook County Ruling might bear good precedent, as will the successful use of the new Light Beam technology in nearby DuPage County IL, as well as across the states of Maryland, Idaho, Hawaii, and Washington.

As reported by Megan Twohey, Staff Reporter for the Chicago Tribune,  Cook County IL Judge Eileen Burke did not have her own hearing on the acceptability of the LIDAR Speed Guns.  Instead, she referred to precedent in the Illinois Appellate Court, which last month ruled that Speeding Tickets issued based on the findings of the Light Guns were admissible as evidence against the offending motorist.

Last year, before Burke's ruling, Cook County Courts threw out contested speeding tickets based on LIDAR Data, as it was not yet proven these devices were acceptably reliable.  With the new ruling, however, such tickets would likely stick.

No longer reserved for Star Trek and other Science Fiction tales of the near and distant future, LIDAR is here today.

And, likely, if you speed in Chicago, it will make you pay up!

Please read our post today via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO

From Snowy Chicago, Good Evening, All!

You must remember - it wasn't all that long ago - the seeming never-ending cycle of homeowner migration and move-up.  Young singles and newly-married couples around Chicago would start with a small condo as their first home.  They would move up to a townhome, with more room, and more amenities.

When children came, the next move often involved a larger house in the suburbs, with shopping malls nearby, top schools aplenty, and lotsa room to grow. 

Often, further prosperity and job security led to the purchase of a larger home, with even more deluxe features.  Then another. Perhaps a third "trophy" home.

Many purchased second homes.  A summer home in Rural Wisconsin, in the woods, or near a lake.  Later on, a Retirement Home or Condo in Arizona, Florida, or The Carolinas.  A ski condo in Utah, or Colorado.  A timeshare in Costa Rica, even Panama.

Times have changed . . . yes?

According to the Urban Land Institute, in their study, "Housing in America: The Next Decade," and as reported in the Chicago Tribune by Real Estate Reporter Mary Ellen Podmolik, many older Baby Boomers - those in the Age 55-64 Group - have seen their home values slip dramatically.  Many have little home equity left, and some are underwater - their current market value is below what they owe on their home mortgage (or, in many cases, MORTGAGES)!

Many Suburban Homes - especially those with larger homes distant from Chicago - are now not as appealing to younger buyers.  Many prefer houses closer in to the city, to reduce commuting time and expense.  Homeowners of every age may find the larger homes too big for their needs, and too costly to maintain.

Virtually every homeowner has seen the value of their investment and stock portfolios - those with components not related to real estate - dramatically fall in value.  The additional disposable income needed to upgrade to a larger, more deluxe home, or add a second vacation property, is simply not there anymore!

All homeowners still in the labor force see their incomes have flattened - the promise of unbridled income growth, taken for granted just a few years ago, is not guaranteed now for most.  Unemployment is still excruciatingly high, and a new air of frugality seems to have come of age.

So, what will result?

Those staying in their homes longer will now make improvements and upgrades that might not have been made when changing homes was so easy.  Second home markets - beach towns on the Michigan side of Lake Michigan, for example, and those warm-climate golf-course communities in AZ or FL - may not quickly and permanently recover.

And homes will sell, buyers will still buy them - but it will likely take longer than it used to, stalling those impetuous "I want it all - NOW!"homebuyers so prevalent just a few short years ago.  At least in the mid-term, many in Real Estate predict, those old-time, incredible gains and profits will be muted, even after the Chicago Real Estate Market truly recovers.

Perhaps that means a bit of a resurgence for Home Remodeling Contractors, trades people like plumbers and electricians, and those working, and running, the Home Depot and Menard's down the street.

We'll see!

Please read our post today via BlogChicagoHomes.com.

DEAN & DEAN'S TEAM CHICAGO