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Home Buyer Tax Credit - Act Now, before it expires April 30, 2010 - Chicago Homes for Sale

First-time Home Buyers - The Worker, Homeownership and Business Assistance Act has extended the first time home buyer tax credit (up to $8,000) for qualified buyers who may be purchasing a principal residence.

The tax credit applies to sales occurring from January 1, 2009 to April 30, 2010. If a binding sales contract is signed by April 30, 2010 and the home purchase is completed by June 30, 2010, it will still qualify.

If the sale occurs after November 6, 2009, the Act establishes an income limit of $125,000 for a single taxpayer and $225,000 for a married couple filing joint returns.

Income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.

Non First-Time Home Buyers - The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified repeat (move-up) home buyers. If you are an existing home owner and you are  purchasing a principal residence home between November 6, 2009 and April 30, 2010 (or if sale is complete by June 30, 2010 with binding sales contract signed by April 30, 2010).

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Sugar Grove, Illinois History and Community Profile - Chicago Homes for Sale

The wooded village of Sugar Grove, Illinois (located approximately 50 miles west of Chicago) has quite a history. Settlers stumbled upon this forested area in 1834. At the time it was an abandoned “Sin-Qua-Sip” camp (translation from the native Indian language, “Sugar Grove camp.”) In the early 1890’s, Kitty Lorah was the owner and proprietor of Uncle Tom’s Cabin, known to all the locals as the “Old Hotel.” It is said that she prepared Sunday dinners that were to die for, attracting folks from all over the region. Over time, as Sugar Grove grew and got it’s first train depot and added modern amenities like electricity, gas, water/sewer and phones, the Old Hotel was THE centralized hub for literally all of those aforementioned services. The House of Plenty was another hugely popular dining establishment and it’s still in operation today under the name of “the Fireside Grille,” located at Route 47 and Junction 30 (www.thefiresidegrillesugargrove.com).
 
Sugar Grove originally had a volunteer fire department (1942). In 1972, the village had 13 active firewomen and it was the very first department in the entire Midwest area to have active women on their fire squad.
 

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Members of Ferris Bueller Fan Club – Buy the Home Featured in Blockbuster Movie!

Bueller? Bueller? The “Ben Rose” home on 370 Beech Street in Highland Park, IL is on the market, listed for sale. In the film, this was the home of Matthew Broderick’s friend Cameron (played by Alan Ruck). The home was featured in the unforgettable scene where the 1961 convertible 250 GT Ferrari went crashing through the glass into the ravine. A. James Speyer and David Haid were the architects of this famed North Shore property. Make the 4 bedroom, 4 bath home yours for only $1.8 million. It’s a piece of Hollywood history. Click to View Property Details http://www.sourceonerealty.com/Listings/161/07218797/IL/HIGHLAND-PARK/370-BEECH-STREET.aspx  or contact a SourceOne Realty associate today at 800-498-0967  info@SourceOneRealty.com

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Process of Selling Your Property - Chicago Homes Tips and Advice Blog

Even if you’ve not sold your home before, the process can be daunting. Here is a quick outline of how the initial home selling process works.  Step 1. Hire a Realtor - Find one who is knowledgeable, who listens carefully to your needs  and makes you feel comfortable. The laws and disclosures are continually changing, so it helps to have a pro on your side. Buyers link up with Realtors to find homes, so it makes sense to have yours in the pool!  Step 2. - Discuss your needs for your next home. If you've not identified a house to purchase, discuss different neighborhoods in Chicago or suburbs and also go over home criteria that will suit your lifestyle. Step 3. - Establish your price and time frame. Your Realtor will prepare a comparative market analysis (CMA), which compares your home with other similar homes that are on the market in your area. This will be key in pricing your home correctly the first time. Step 4. - Develop and implement a marketing strategy for your property. It should include ample online exposure, mixed with a few more traditional means of promotion. Should you need assistance placing your home on the market this spring, contact us! We have many talented professionals here to help! 800-498-0967  info@SourceOneRealty.com

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Elburn, IL Community Profile - Chicago Homes and Advice Blog

Elburn, Illinois was originally called, Blackberry Station. The village officials later changed the name, due to pressure from the C&NW Railroad group, who felt it got confused with Blackberry Township. Melbourne became the village’s new name and at a later point became shortened to Elburn, by the same pesky Railroad folks who pressured the first name change! Ah, politics! Elburn's more recent unveiling has been its new Metra commuter train station (Union Pacific West), extended to reach Elburn residents and allow them easy transport to downtown Chicago!
 
Residents treasure Elburn’s small town feel. Festivities in town include the Memorial Day Parade, Elburn Days (the largest village event, parade and sidewalk sale in town, held the third full weekend of August),  Veterans Day Parade, Holiday Stroll (hay rides, trolley tours) and the big, bright, “Day in the Park,” 4th of July fireworks festival.
 

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Community Profile - Montgomery Illinois - Chicago West Suburb Fox Valley

The Village of Montgomery, Illinois is a warm and charming town, located about 40 miles west of Chicago, right on the Fox River Valley. It's in both Kane and Kendall County, depending on where you're standing. It's a charming place to live and work, especially if you love nature and tree-lined streets. Montgomery is known for it's historic gristmill (built by the original village settler Daniel Gray in 1853) and its high percentage of land that has been set aside for parks, natural spaces and walking/biking trails. There are ample shopping choices, especially in the nearby cities of Naperville and Yorkville. Montgomery Fest is a two-day fesitval, held the second week of August each year. It's a unique event, with a street dance and fishing derby, along with a parade, corn boil, craft booths, car show, live entertainment and festival drinks and fare. The fireworks show against the Fox River backdrop draws a huge number of area residents. The Village is located of Route 30, 34, 25, 31, 47 and Orchard Road, making travelling about town fairly easy. Interstate 88 is close and Chicago's major airports, O'Hare and Midway are approximately 45 minutes drive. Residents with jobs in downtown Chicago use the Metra train line in nearby Aurora.

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Community Profile - Elgin, Illinois - Chicago West Suburbs

Elgin, Illinois is the eighth largest city in Illinois and a wonderful community to call home. The Historic Victorian architecture, Fox River views, stylish clubs, fine dining and stunning natural landscape are just a few of the advantages to living in this west Chicago suburb. Elgin is said to have the most cobblestone construction homes, second only to those in Rochester, New York and many of these homes are on the national historic register. Elgin also has many Sears Catalog "Kit" Homes throughout the city.
 

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Community Profile - South Elgin, Illinois - Chicago West Suburbs

ABOUT South Elgin, IL - www.southelgin.com   South Elgin is a 100+ year old Village, filled with culture, history and incredible beauty of the Fox River. South Elgin is in the northeastern part of Kane County, about 40 miles from Chicago and a 30 minute drive to O'Hare International Airport. There are a wide range of wonderful housing options, which include River Place Townhomes, the LaFox Corridor developments, Cambridge Bluffs, Prairie Pointe, Parkside Woods, Raymond Square, Sterling Woods.
 
The Village has made smart decisions in keeping a mixed-use focus for the riverfront space. Parks, paths and streetscapes have been well-balanced with the area development of residential homes, industry and retail stores. Fishing, trail biking, jogging, in-line skating, canoeing, hiking, soccer, softball and golfing are just a few of the seasonal activities in town. The Library branches in town are outstanding, offering state-of-the-art computer center and a new 24/7 DVD dispenser and gardens area at the Rakow Branch.
 

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First Time Home Buyer - Choose Home Loan Carefully - Chicago Homes Tips and Advice Blog

As a first-time homebuyer in Chicago, it's important to do your homework on mortgage and home financing. Consider these topics (and ask your real estate professional or loan officer to explain them). When you decide on a lender (we recommend Bank of America Home Loans) be sure to get every detail in writing. Ask for a written explanation of the lock-in rate, ask about points or fees that you might be paying to secure your loan. Request an estimate of the closing costs (Good Faith Estimate). Inquire about pre-payment penalties. Ask that lender to attach an addendum to your contract specifying that no penalties will be imposed for prepaying your loan. Your loan can potentially come from a mortgage broker or through a bank itself. The benefit of setting up your loan directly through a bank is that you'll be dealing with that bank from start to finish (you won't be handed off to a 3rd party bank after the closing). Shop around. One bank may give you a great interest rate, but require you to borrow more than you actually need to borrow, in order to get that low interest rate. Above all else, request a complete copy of your financing contract and ask your Realtor for assistance in reviewing your loan documents before you sign. Your real estate agent will help you interpret the fine print.

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Shop Local - Support Independent Business in Your Community - Cinda Baxter 3-50 Project Way

Learn how the support of local independent businesses in your neighborhood can dramatically improve economics of your city or village! Minnesota business woman, Cinda Baxter explains the 3/50 Project here http://www.the350project.net/home.html

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