pinnacle team january/february 2010 newsletter

8/14/2019 Pinnacle Team January/February 2010 Newsletter

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Moving forward, we havedecided to send out ournewsletters bi-monthly sothat we’re not inundating

your inbox on a monthlybasis.

We hope that 2010 bringsyou wonderful things!

The Pinnacle Team

Happy New Year, Friends!

Our team is very excitedabout what 2010 has tooffer. We expect the first 4

months of the year to bebooming with the tax creditextension on the table andthe kickoff of the Springmarket.

If you have any questionsregarding the currentincentives or the state ofthe market, please contactone of us.

We’re holding a verycasual, yet informativeseminar on Thursday,January 21 (more details

on page 5). We encourageyou to come and inviteyour friends if you’re in aposition to be buyinganytime in the near future.We will have a panel ofexperts in the field that willbe at your disposal in a “nopressure” setting.

On January 1, 2010 theDepartment of Housingand Urban Development(HUD) established newrules that are intended tosimplify and clarify whatmortgage lenders cancharge to originatemortgages. Starting in

2010, all mortgage lendersare required to provide thenew Good Faith Estimate(GFE) form (http:// www.hud.gov/content/ releases/ goodfaithestimate.pdf) toall applicants. The newGFE is intended to makean apples-to-apples

comparison of the truecosts of loans fromdifferent lenders morestraight forward.

The new three page GFEform requires lenders todisclose fees in the samespots. The GFE helps

identify origination fees andpoints charged up-front toreduce the interest rate. Italso clearly lists the loanamount, terms of themortgage, monthlypayments, interest rate,prepayment penalties andwhether the interest ratecan change.

Please call me if you haveany questions.

I look forward to workingwith you!

A New Year

I n s id eth isissu e :

New GoodFaith EstimateForm

1

Recipe:

Sausage Stars

2

Restaurant:Osteria ViaStato

2

PreparingYour Home toSell

3

MaximizingYour Savings

4

HomebuyerSeminar

5

Pinnacle TeamListings

6

A GrowingTeam

4

New Good Faith Estimate Form

Pinnacle Team NewsletterJ a n u a r y / F e b r u a r y 2 0 1 0

S

Todd Johnson

VP of Mortgage Lending

Guaranteed Rate

[email protected]



P a g e 2

don’t sound very fancy, buthey, it’s pizza, it should besimple.

The wine list is worth

mentioning as well. It is abasic representation of popularItalian varietals, all priced veryreasonably, which reallysurprises me for LEY.

The last piece of the puzzle isthe service. The staff is verywell trained, courteous, andworks hard to make sure youfeel as though you are avalued guest.

If you are one of the tens ofthousands of people that call

the River North neighborhoodhome, or if you are looking tomove there, you should knowthat this area is a bitcomplicated with regard to realestate. This location is prettycomplex, with just a blockmaking a huge difference invalue, and the buildings arevery different in terms ofamenities, financial health,

etc. Values vary from buildingto building and you should becertain you are working with aReal Estate Professional thatunderstands this market. (Hint:we do!)

In general, this market iscomprised of high-rises withseveral other options availablein small quantities. Check outthese stats on availablecondos:

1 bed / 1+ bath: 233 units,$135k - $1.5M

2 bed / 1-2 bath: 213 units,$249k - $1.25M

3+ bed / 2+ bath: 84 units,$460k - $5M

620 N State

www.osteriaviastato.com/

This casual sister restaurant tothe popular Osteria Via Stato isa must-visit if you are in themood for delicious Roman-style pizza in a comfortablesetting.

Located just to the north of theEmbassy Suites lobby on Statein River North, I am oftenskeptical of restaurants thatare part of a large chain orcompany, but Lettuce EntertainYou delivers on thisventure. We have dined withPizzeria Via Stato three timesin the last two months andhave had three greatexperiences.

The pizzas are paper thin,flavorful, and seem to alwaysbe cooked perfectly. Theappetizers are delicious, theingredients are fresh, and themenu items are verycreative. Favorites thus far arethe Roasted Garlic, SweetOnions, and the ClassicoCheese Pizza (add Pepperoniof course). I know these items

Osteria Via Stato

Ann Lund, Overland Park, KS

1 lb. mild or med. pork sausage (R.B. Rice)

1 small can sliced black olives, drained1 ¼ cup grated cheddar cheese¼ tsp. ground red pepper1 ¼ cup grated Monterey Jack cheese1 pkg. Won-Ton wrappers1 cup prepared Ranch dressing (May use lite)

Preheat oven to 350 degrees. Cook sausage and drain thoroughly. (I use mild butuse as spicy a sausage as you like.) Combine drained sausage with cheeses,olives, dressing, and red pepper. Set aside. Lightly grease muffin tins. Press onewon-ton in each cup and bake 5 minutes. Remove from tins and place on bakingsheet. Fill each won-ton with sausage mixture. (I use a small ice cream scoop.)Bake an additional 10 minutes until cheese is bubbly. Place on serving tray. Makes 2

dozen.

Sausage Stars



P a g e 3

Preparing Your Home to SellWhen selling your home, the most important

steps to take are actually before the unit

actually hits the market. You, along with your

agent, should be as proactive as possible

because you only have a chance to make a

first impression once. Taking the time to do

some homework up front will pay invaluable

dividends, create a smoother selling process

for everyone involved, and will even help

maximize the selling price. Our team firmly

believes in taking the following steps to make

your listing be the best it can be:

Purge: Go through every single belonging you

have and make a grouping of items you can

donate to Goodwill, items you can sell on

Craigslist or Ebay, and items that can be

thrown away. Although this process seems

daunting, it will help you immensely. You’re

going to be moving soon anyway, so why not

get a head start on minimizing the amount of

packing you’ll have to do for your move?

De-clutter: The best compliment an agent/

seller can receive is when a buyer walks into

the unit and asks, “Does someone live here?”

While you don’t want the home to look too

sterile, you want it to be depersonalized of

your belongings. Some quick tips: remove all

items from the countertops, remove all

personal pictures, remove all items/magnetson a refrigerator, and organize all closets and

cupboards. You want the buyer to focus on the

unit itself and not be distracted by personal

belongings.

Staging: Staging (or furniture placement) is an

essential part of listing a unit. The flow of traffic

within a room is important for a buyer to get a

sense of the amount of space a home offers.

Oversized furniture in a small unit generally

makes a unit feel cramped. Speak with your

agent about what works or doesn’t work with

your existing furniture. It may mean that youneed to store a couple of items or that you

need to purchase/borrow a piece of furniture.

Improvements: Make any necessary

improvements. The most common and helpful

are repainting and re-carpeting, if necessary.

You may also want to update a light fixture,

window treatment, or hardware (such a pull

knobs on cabinets).

Clean: Do a deep cleaning prior to listing. This

means cleaning the inside of all appliances,

touching up any paint scuffs, carpet cleaning,

powerwashing, etc. Having a unit clean before

all showings is imperative as well.

Good pictures: It is important that your agent

has professional pictures taken for MLS and

marketing collateral. Professional home

photographers have the necessary equipment to

make your place shine. A simple point and shoot

digital camera will not do the trick.

Document collecting: Collect all paperwork

necessary for attorney review – condo

declaration and bylaws, rules and regulations, a

year’s worth of meeting minutes, and budget/

financials. Although you won’t need this

information right away, it’s nice to have on-hand

so that you’re not scrambling around when you

receive an offer. Any items you don’t have, you

can generally obtain from the Association

President or management company.

Receipts: It’s also a good idea to provide any

receipts for repairs and/or improvements you’vemade as a homeowner. This could include

furnace/AC maintenance, plumbing work, etc.

Providing all of this up front will give the buyer

no doubt as to the condition and upkeep of the

home.

Healthy Associations: As the market is

changing, so is the importance of healthy

Associations. Make sure you’re involved and up-

to-date as to what’s going on in your building.

Several factors play an important role in a

healthy Association: regularly organized

meetings with agendas, concise minutes

documenting board decisions, realistic budget,

planned long-term maintenance, well-maintained

common areas, a healthy amount in the reserve

account (in proportion to the age of the building),

etc.



P a g e 4

Maximizing Your Savings

While it is true that most of the strategies I

outlined in last month’s issue needed to be

done before the end of the calendar year (loss

harvesting, mortgage prepaying, charitable

contributions etc) ,you can still do something

to manage your retirement savings that may

benefit your taxes for 2009.

Fund your IRA! If you are eligible to contribute

to a traditional IRA or Roth IRA you can still

make a full contribution for 2009 as long as

you do it before April 15, 2010. As long as

you declare it to be a 2009 contribution you

can shelter your savings into one of these

vehicles and still make a full 2010 contributionlater.

Some reasons to think about this include:

catching up on your retirement savings needs,

saving more money on taxes (for 2009, in

retirement, or in your estate), lowering your

EFC to qualify for more financial aid if your

child is in college, or sheltering funds from

capital gains tax that can later be used for a

first time home purchase.

It is important that you consult a professional

to ensure your eligibility to make contribution

and help you determine if any of the above

reasons are right for you.

S

Christopher Davidson, CRPC®

Financial Advisor

Ameriprise Financial

[email protected]

A Growing Team

Our team have been fortunate to have seengreat success in 2009. We have decided to

expand our resources and grow our team so

that we can better serve our clients. We

proudly announce our newest addition, Emily

Gossett.

Emily comes to us from The Chopping Block,

a popular cooking school here in

Chicago. Emily has been in sales for the last 7

years and has been a huge help to Ryan (her

husband) in her spare time. She has learned

a lot about the Real Estate business over thelast few years, but more importantly, she has

demonstrated throughout her career her ability

and desire to make sure her clients receiveher undivided attention. She knows Chicago

the Real Estate market, and is ready to dive

to the business. As a member of The

Pinnacle Team, she will have our full support

as she works with her clients and we are

certain that she will fill the learning gap very

quickly. Please feel free to reach out to Emil

and welcome her to our team. She can be

easily reached at [email protected] or

312.550.0617.



P a g e 5



P a g e 6

Pinnacle Team Listings

Price Reduction! 1048 W. Byron, G -$264,900Very high garden unit in hot Wrigleyville!Features grade level separate entrance onfront and rear. This 2 bed, 1.5 bath condo iswell maintained and has been nicely updated.Large rooms. Master bedroom featuresprivate half-bath. PARKING INCLUDED!Unbelievable outdoor space for entertaining.Walking distance to train, restaurants andbars, Lake Michigan, this location is primo.Priced to sell! http://tours5.vht.com/Viewer/ PhotoGallery.aspx?ListingID=1208710&Style=IDX

Price Reduction! 6157 N. Sheridan, #18K -

$145,000Gorgeous 1 bed, 1 bath condo on LakeMichigan, north of downtown Chicago.Desirable floor plan w/ generous room sizes &panoramic lake views from the bedroom &living room. Freshly painted, new blinds & oakflooring thru-out. Updated kitchen with newmaple oak cabs, countertops, apps. Seperatedining area. Updated bathroom with marbletiles, new sink and toilet. 24/7 doorman,parking available, sundeck. Steps away fromtransportation! http://tours5.vht.com/API/ T1208540 1528 W Jonquil, D3 - $283,000This amazing 2 bed/2 bath condo is just under1500 Square feet. Built in 2005, this 6 unitbuilding is on a beautiful tree-lined street onChicago's northern edge. Just steps from thebeach, the red/purple line, Evanston, andJarvis Square, this Rogers Park find is one ofthe best deals in Chicago! Featuringhardwood floors throughout, cherry cabinets,and garage parking - this condo is ready for itsnew owner! FHA Financing Available! http:// tours5.vht.com/Viewer/PhotoGallery.aspx?ListingID=1174724&Style=IDX

1060 W. North Shore, #1 - $184,000Rare opportunity to live lakeside! Vintagecharm with modern updates and only 60 stepto the beach. Large 1 bedroom with sunroomthat could double as an office/guest room.Separate dining room and large living roomthat is wired for surround sound. Hardwoodfloors throughout, updated kitchen with newecabinets, and ss appliances. Tons of build-inthroughout. Two custom closets in master.Parking included. FHA Financing Available!http://tours5.vht.com/Viewer/ PhotoGallery.aspx?ListingID=1183534&Style=IDX

Price Reduction! 6400 N Sacramento, 3

Units - $114,900 - $174,900These wonderfully finished 1 & 2 bedroom, 1& 2 bath condos offer luxury and affordabilityThe intimate 16 unit building offers parkingincluded in the price, storage, and an elevatoEach condo is finished standard with doubleovens, marble baths, Kohler fixtures, granitecounters, central heat & air, oak floors, 42”cabinets, and Jacuzzi tub. Exceptional valueFHA and VA Approved!http://tours5.vht.com/Viewer/ PhotoGallery.aspx?ListingID=1184844&Style=IDX

For our commercial investors, we also have astorefront for sale:

3008 W. Devon - $224,900

pinnacle team january/february 2010 newsletter

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