The IRS has posted questions and answers about the homebuyer tax credit.  Basically, you qualify if

  • You haven’t owned a home in the last 3 years
  • You purchase a home as your primary residence between 4/8/08 and 5/1/10
  • You close on the home before July 1, 2010
  • Combined income for a married couple phases out between $ 225,000 to $ 245,000

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To download a PDF copy of the IRS Questions and Answers, select this link.

Search properties for sale in Chicago using Prudential Rubloff’s Map Search.

Or …

Sign up for the Homebuyers’ Club and see all listings for sale in the Chicago marketplace — all property types — real estate in all neighborhoods and all price ranges listed by all real estate agents in Chicago.

Anne Rossley of Prudential Rubloff can answer your Homebuyer Tax Credit Questions – select this link to submit any questions you have about your situation…

Now is the time to start your home search!

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For an in-town pied a terre or investment property, this one bedroom at 3950 N Lake Shore Drive is worth looking at…

3950 lake shore

For only $ 125,000, it’s across the drive from Waveland golf course and the harbors, the tennis courts and the lakefront bike paths.  At the corner of Irving Park and the drive,  you can catch buses west or express buses south.  This location is ideal!

The apartment is a freshly painted 1 bedroom  priced aggressively –  this is the lowest priced one bedroom south of Irving Park on the lake and it has a lake view (Montrose Harbor!).  The building includes a 24 hour doorman, commissary, dry cleaner, fitness center and sundeck.  There is a parking garage attached to the building and management is on site.

Let’s say you purchased this condo with 20% down and secured a 5.25% loan — your payments BEFORE tax deductions would be only $ 1188.20 — less that $ 2 per square foot per month!

To see this or other pied a terre condos in Chicago, contact Anne Rossley at Prudential Rubloff.  Anne can help you with all your Chicago real estate needs.

Anne is a Second Home Property Specialist (RSPS).

For further financing information on this property, Diane Pyshos (pyshos@msn.com) at Chicago Financial is a fantastic resource and I highly recommend her!
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New on the real estate market in East Ravenswood this week is

4630 paulina

4630 N Paulina, listed at $ 1,395,000…

The home is on an extra deep lot, typical of East Ravenswood homes.  In this case – 165 ‘ deep.  Tricked out with gorgeous finishes, it is the only one left from Landrosh.

Other homes for sale this month are…

Street # Str Name Beds Baths # Cars List Price MT
1605 CULLOM 4 2.1 0 $649,000 146
4436 PAULINA 5 2.1 3 $1,350,000 241
4322 HERMITAGE 5 4.2 2 $1,650,000 68
4032 HERMITAGE 6 4.2 3 $2,069,000 170
4605 HERMITAGE 6 7 8 $2,250,000 175
4145 HERMITAGE 6 5.1 3 $2,495,000 134

To see these, or other historic Chicago homes,

call Anne Rossley at Prudential Rubloff.

Anne sells historic homes using tomorrow’s technologies!
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Graceland West Real Estate Update

January 22, 2010

This month, 1422 W Berteau closed.  Originally listed at $1,395,000 , it closed this week at $ 1,019,000 after 202 days on market. The 20’s brick and stucco 3 bedroom home was situated on a 30′ lot.

This is the only home that closed this month — the following homes are currently for sale…

Street #
Str Name
BR
BA
# [...]

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Ugly Bathrooms

January 21, 2010

DIY is having an ugliest bath contest…
The funny thing is – as a Realtor, I’ve seen all these and worse!
As of this writing, the pink bath is in the lead.  Personally, I think the silver foil wallpaper is frightening.

What do you think?
To see pretty baths in beautiful homes, call Anne Rossley at Prudential Rubloff.
Select this [...]

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Lakewood Balmoral Real Estate Update

January 20, 2010

Lakewood Balmoral has been quiet this month.  The entry property (lowest price) is 5323 N Wayne, reduced to $ 595,000.  It’s situated on a 33′ wide lot, and  the neighborhood resales are high enough to support a lovely rehab on this property.

The top end of the market remains 5511 N Lakewood — Dave Kirk’s gorgeous [...]

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How do Chicago home price declines compare to the suburbs’?

January 18, 2010

I have a suburban client contemplating a cr0ss-country move, and like everyone else who bought 2-5 years ago, he’ll be taking a loss on his home.  In negotiating his relocation package, he contemplated how this loss would compare to what he’ll gain by buying in his new city.
Did home prices decline as much there as [...]

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Best Time to List Your Home for Sale

January 10, 2010

Traditionally, Chicago’s real estate market kicks off after the Super Bowl.  Our market is usually busiest between February and April — ahead of the suburban market.
Why?  Probably because of the traditional May 1 – Oct 1 lease renewal dates.  Why and how that started is a mystery to me, but it makes sense that if [...]

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Prudential Rubloff Leads Lakeview Home Sales

January 8, 2010

In preparing a listing appointment this week for a Lakeview Single Family Home seller, the market data was interesting…
1.  Prudential Rubloff does about twice the single family home business in the Lakeview Neighborhood.

2.  The market is looking more healthy — with 92 active listings and 63 sales in the last 6 months, we are edging [...]

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Andersonville – 1665 W Olive – Price Reduced to $ 579,000

January 7, 2010

It’s not often one can find a darling single family home in Andersonville for less than $ 600,000, but now 1665 W. Olive is available for $579,000.

This historic 1899 house has lovely hardwood floors, a newer kitchen, a sunroom, and a large back yard.  There’s a family room and office in the lower level and [...]

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