Gene's Bit of Blogging
Chicagoland
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Gene Mundt, Mortgage Lender: Posted on Thursday, May 17, 2012 8:34 PM
Opening Night Coming
For Joliet Slammers Baseball!
Joliet's professional baseball team, the Slammers, will open their 2012 playing season next week on May 22nd. They'll be playing the Traverse City Beam Bums that evening, starting at 7:05 pm.
 Expectations are high for this year's season, as the Slammers will be defending their 2011 Frontier League title. A ring ceremony will be held prior to this year's first game to celebrate last year's League champions.
After the Slammer's opening day game, there will be a fireworks show for the fans.
If you would like more information regarding the Slammers' Opening Day game or future games and accommodations, please call Kelli Dreschsel at: 815.722.2287 or email: info@jolietslammers.com.
Hope to see you Opening Day!
* Contact me ... if you're hoping to buy or refinance a home in Joliet, Will County, or Chicagoland area. I'll put my 35 years of experience to work on your behalf. I can be found at any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 Conveniently at Skype: 630.219.1316
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Gene Mundt, Mortgage Lender: Posted on Wednesday, May 16, 2012 8:03 AM
Multiple Offers and Appraisals. Learning to Co-Exist Successfully We are presently in the time of year when Appraisers, Realtors, and Mortgage Originators ... as well as Home Buyers and Sellers are often "anxious". Both good anxious and bad anxious. This Spring, many of us find ourselves anxious, but hopeful, that our housing market is reviving itself after a long winter. This is especially true in the Midwest region where I live. Weather makes home sales somewhat more seasonal here. This year's anxieties are accompanied by the good-to-have-problem of rising house prices. In many areas, we are presently seeing multiple offers placed on strategically-priced properties. RISING home prices shouldn't be a problem, right??? Welllllll ... they can be ...  As an example, let's consider what the prior 6 months of property sales were in the Chicagoland region. Again, those months are typically the slower sales season in this region, but most certainly they have been even slower because of the health of the housing market this last year. This particular 6-month period showcased a housing market trying desperately to gain traction and stability. Now as someone that's a former Appraiser, it's my opinion that there are going to be some real challenges ahead for current-market Appraisers ... and those challenges will trickle-down to Agents, Brokers, and Mortgage Originators. And I most likely need to include Mortgage Underwriters in this mix too. Where are these challenges coming from? Many potential Home Buyers are now having to actually compete for homes in this spring's market. They've been caught a little off-guard at the return of a bewildering phenomenon ... multiple-offer bidding wars. If they are a Home Buyer that has been disappointed one or more times because of bidding wars, what happens the next time they begin a new home search?
My local referral partners are telling me that the fear of getting outbid again is motivating these potential Home Buyers to aggressively pursue and price their next offer to purchase. Contracts are being signed AT or ABOVE the asking price of a home.
Let's see ... new Home Buyers are securing a historically low interest rate. The Sellers have sold their home (more quickly and for perhaps higher than they had envisioned). Agents have helped facilitate and secure a successful contract. Mortgage Lenders have been called into action. The wheels are turning ... all cause for celebration. Right?
Again, yes and no. Things couldn't be that simple!! What's the issue?? Remember I mentioned the previous 6 month time-frame above? Well, during that period, sales were slower or stagnant. Most times, housing prices were lower. And now?? A home has been sold. And an appraisal must be ordered and completed to facilitate the mortgage financing. But finding Comparables to support the sales price of the home might prove tricky. The question becomes ...
 At what point do Appraisers recognize market changes that seem to be taking place in many housing markets? When do they choose to support and make adjustments reflecting these new trends for home sales prices? JMO, but not only do Appraisers need to recognize this trend, but so do Underwriters who eventually REVIEW, approve the Appraiser's work, and ultimately "bless" the final Opinion of Value. But therein lies the possible problem ...
Consider this current scenario: As an Agent, you've priced a new listing via your MLS, supported data, and info. You've worked hard. Potential Home Buyers are now actively pursuing your listing. You've generated offers. One Buyer, a veteran of bidding wars, has made a solid, aggressive offer. They want this home! But the Sales Price on the home is at the high end of the previous 6-months' supported data, or higher. Question ...
Are the Closed sales from that previous 6-month sales period, (November, December, January, February, etc.), going to support that newly-arrived-at-much-anticipated Sales Price you just received? How are Appraisers going to approach it? If not, what can be done to facilitate and safe-guard the sale? First ... let me qualify what I think is an important bit of information. EVERY HOUSING MARKET IS DIFFERENT. Those differences must be taken into consideration.
That said, Listing Agents experiencing a healing, "correcting" housing market must be well-prepared to go to battle. They must be willing and capable to provide Appraisers current listings, pending sales, and March-April-May Closed Sales information that is relevant and comparable to their Subject Property. And very importantly ... Appraisers must be willing to accept and utilize valid, "fresh" sales and info from that period, as well. Add mortgage lending Underwriters into that mix. Securing successfully closed transactions for our clients must be ALL of our goals. If we don't get on the same page during this transitional period, if we don't work hand-in-hand, we will disappoint often.
An unwillingness to broaden the scope of properties considered via Appraising and Underwriting ... and the data accepted and utilized within transactions ... will sink transactions completely. That will hurt our clients and further delay the healing of our housing market and real estate industry.
This is going to call for a bit-of-a-shift in mentality. My guess, but there is probably going to be a bumpy adjustment period ahead regarding appraisals. Challenges to be sure.
This particular situation once again provides strong proof that ... the choice of real estate and mortgage professionals working on any transaction is vitally important. Experience, knowledge, and past successes should and must count greatly for clients when making those choices. Being anxious to buy. Being anxious to sell. Being anxious to celebrate ... to move ... to decorate ... to landscape. Those are all positive. But being anxious over whether you can seal a deal with a property appraisal certainly isn't ...
* Contact me today to work with a mortgage lender that has 35+ years of education and experience to assist you throughout your entire home buying and mortgage financing transaction. I can be found at any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 Convenience @ Skype: 630.219.1316
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Buying a Home, Mortgages, Working with a Mortgage Professional, Appraisals, Chicagoland, Agents and Brokers, Selling Your Home, Working with a Real Estate Professional, Real Estate Professionals, home buying, Appraisal changes, Realtors, Pricing a home for Sale
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Gene Mundt, Mortgage Lender: Posted on Tuesday, April 24, 2012 11:19 AM
Enjoying Just One of the Many Great Chicagoland Music Venues
The Dominican University Performing Arts Center in River Forest, IL
My wife, Marilyn, is a huge country music fan. Traditional country. Old country. Bluegrass. Iconic country performers. The more "twang" the better for her.
Knowing his mom's long-standing love affair with the genre, our youngest son and his wife gave her a Christmas gift of a pair of tickets to see Marty Stuart and the Fabulous Superlatives for this last Saturday night.
To say she enjoyed herself, would be an understatement. Let's just say I see a whole new side of her during shows like this.
The Performing Arts Center and the Dominican University itself, is surrounded by some of the most beautiful homes you'll find within Chicagoland too. There are just blocks after blocks of them. Old and new. Varying architecture.
Prior to the concert, we enjoyed just driving around and soaking up the River Forest area. (What else does someone with 35 years in the real estate industry subject their spouse to??) Massive trees are everywhere within this City. I swear, we could have just enjoyed driving for hours in River Forest. Gorgeous.
During our show on Saturday night, we were right smack in the middle of the Performing Arts Center, just 11 rows back. When Marty Stuart came out to showcase his "pickin'" abilities and speak to the crowd, I thought we could reach-out and touch him.
Now for those that don't know much about Marty Stuart, here's a little taste:
If you ever get the chance to see and hear Marty Stuart and the Fabulous Superlatives, jump on it.
* Hoping to buy a home in River Forest, IL or nearby in Chicago or Chicagoland area? Work with a proven professional with years of experience and expertise at helping home buyers and clients successfully complete and close their transactions. Contact me today. I'll be happy to hear from you and have the opportunity to earn your trust and mortgage business. I can be found at any of the following: Direct: 815.277.4036
Cell/Text: 708.921.6331 Conveniently Through Skype: 630.219.1316 or Click Here 4 a: |
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Gene Mundt, Mortgage Lender - The Federal Savings Bank: Posted on Thursday, April 19, 2012 4:55 PM
Celebrate America's Beautiful Trees! Arbor Day Celebrations in Chicagoland
Did you know that trees are not only beautiful, they’re hard
working too??
Here’s just a small list of the many tasks that trees
accomplish for us each and every day:
- · Trees
renew our air supply by absorbing carbon dioxide and producing oxygen
- · One tree
produces nearly 260 pounds of oxygen each year
- · Trees
lower air temperature by evaporating water in their leaves. Shade trees can make buildings up to 20
degrees cooler in the summer.
- · A mature
oak tree can provide support for over 460 different species of insects, birds
and mammals in shelters and hollows, as well as fruit, flowers and foliage that
attract a huge variety of birds and insects.
- · Tree
roots stabilize soil and prevent erosion
- · The
amount of oxygen produced by an acre of trees per year equals the amount
consumed by 18 people annually
Not bad, huh?
So is it any wonder
that each year we set aside a day to celebrate the beauty, hard work, and
enhancements to our lives that trees afford us?
 Arbor Day in the U.S., is celebrated on the last Friday in
April each and every year. This year, many
cities and towns in Chicagoland are once again hosting Arbor Day festivities hoping to create renewed
love and awareness for trees … and also promote the planting of new trees
within their boundaries.
Some of the towns
taking part in this year’s Arbor Day festivities are:
Activities will
include a “tree tagging” event. The Glenbard East HS Ecology Club will be
working along with professional arborists and foresters from the Morton Arboretum to
identify and gather data regarding the trees located in the parkways near the
school. Each tree’s tag will show the
monetary value of the tree entered into the National Tree Benefits Calculator.
City of Crest
Hill:
Both residents and nonprofit organizations are invited to take
part in this year’s “50/50 Tree Program”,
sponsored through the City ... and held in conjunction with Arbor Day.
Only one (1) tree
per household is allowed. Anyone
receiving a tree through last year’s “50/50 Tree Program”, will not be eligible
for participation this year. Funds are
limited for this Program. If interest is
high, early applicants will be given first consideration. The goal set by the City is for 5 trees to be
newly planted within each of its 4 wards.
To download an
application for the City of Crest Hill’s “50/50 Tree Program”, go to:
 All trees must be
planted by the landscaper working in partnership with the City of Crest Hill, “The
Fields on Caton Farm”. For further info,
call the City of Crest Hill at: 815.741.5100.
A variety of trees
will be available at big savings, including:
Ornamental Pear, Magnolia, Redbud, various Maples, Crabapples, and
more. Prices and further info regarding
the trees are available at:
Trees can be
purchased by check or cash and removed from the Center by Noon. Naperville Public Works employees will be in
attendance to help residents load trees.
(No commercial sales are allowed).
An expert from the Morton Arboretum will
be in attendance at this event to assist residents with their questions and
offer planting advice. The City of
Naperville will be offering a copy of its informative tree booklet: The “Trees of Naperville - Tree
Selection and Planting Guide”, which can also be found and/or downloaded on the
City’s website.
Should you need
further info regarding this sale, please call 630.420.6095.
Arbor Day is being
celebrated in St. Charles this year on Friday, April 27th, at
Lincoln Park on Main Street, between 4th and 5th Streets. There will be live music, a tree raffle,
tree care demonstrations and more. Arbor Day festivities begin at 4 pm. The
artwork and photos of the participants and winners of the coloring and photography
contest will be on display.
In Illinois alone,
there are 186 Tree City USA
communities. Many are hosting their own
Arbor Day festivities. Think about
attending a celebration taking place near you … or go to The Arbor Day Foundation website and make a donation to help them
plant, nurture, and celebrate trees in your community and across the U.S.
* Looking for a new home to plant those Arbor Day trees? I can help you with your financing ... whether in Will County, Chicagoland, or across the U.S. Contact me today. I'll put my 35 years of experience and expertise to work on your behalf. You'll be planting your new Arbor Day trees in no time! I can be found at any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 At Your Convenience on Skype: 630.219.1316
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Chicagoland, Localism Posts, Announcements and News, Chicagoland Activities, Staging your Home, Calendar of Chicagoland Events, Naperville, Community Info, Family Activities, Special Events, St. Charles, IL, Home Ownership, Holiday Events, Crest Hill, IL, Shopping, Charitable/Community Organizations, Arbor Day, Lombard, IL
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Gene Mundt, Mortgage Lender: Posted on Monday, April 16, 2012 2:51 PM
Coulda ... Woulda... Shoulda! That's What You're Going to Say, if You Don't Buy Now!
Missed Opportunities!
Regrets!
Lost Potential!
Coulda ... Woulda ... Shoulda!
That's what you're going to be hearing yourself say ... if you don't buy a home while the current unique and beneficial housing market's opportunities exist.
Why? How do I know this?? Because I've begun to hear some Coulda ... Woulda ... Shoulda's ... stories related to me. People are telling me they're kicking themselves over lost opportunities.
Reports from many agents and potential home buyers alike, say homes in many areas of Chicago, Chicagoland, Will County (and elsewhere) are moving more quickly once again. (One Example relating this change in the housing market comes from Chicagoland Agents: Read this post from Howard & Susan Meyers, The Hudson Company, regarding the housing market on Chicagoland's North Shore: "The Worm Has Turned".)
Many markets are
healing and seeing rebounding prices. Sellers are receiving multiple
offers for their properties.
Opportunities have been lost by some potential home buyers, leaving these potential home buyers wishing THEY had taken action sooner.
A few of my own clients have said they regret not regaining control over their own finances or taking action to improve their credit prior to talking to me. They wish they had checked their Credit Report sooner and more often. They now know they'd be much further ahead and have more financing options open to them when they buy.
Many have stated they simply wish they had listened and followed their real estate agent's advice better. They mistakenly thought they were going to "low-ball" a bid and steal a home at a ridiculously low price, then ended-up losing out. The "low-ball" philosophy just didn't work.
Still others have been fence sitters. They've delayed making a sales offer too long and lost-out to other buyers capable and willing to make a home buying decision.
 Good news does still exist! Interest rates and housing prices remain low.
But do not doubt this ... time is of the essence. You need to take action.
Take steps NOW to prepare yourself. At minimum, find and team-up with an experienced, professional mortgage lender. Get the home buying ball rolling.
There are no negatives to having your credit report run. Most mortgage lenders will do it for free. I do. And whether you buy a home soon or down the road ... you win. You save money on all sorts of services because you've improved your credit scores. Insurance. Cell phone service. Credit cards ... you name it. The better your credit, the less you pay, the more money you save.
Avoid the Coulda ...
Dodge the Woulda ...
Protect yourself from the Shoulda ...
* Discover what home buying and financing options exist for you, whether in Will County, IL, Chicagoland, or any of the 50 states. Contact me today! We'll work together to get you on the right path to homeownership ... now ... or for the future.
I can be contacted through any of the following:
Direct: 815.277.4036 Cell/Text: 708.921.6331 Conveniently thru Skype: 630.219.1316
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Credit, Credit Repair, Buying a Home, Credit Reports/Fico Scores, Importance of Credit, Mortgage Lender, Mortgages, Real Estate, Working with a Mortgage Professional, Chicagoland, Will County, Agents and Brokers, First-Time HomeBuyers, Chicago, Asking credit and mortgage questions, Home Buyers, home buying, Right Time to Buy a Home, Home Ownership, Los Angeles CA agents and realtors, Los Angeles Home Buying, Winnetka and North Shore, Interest Rates, Pre-Qualification/Pre-Approval
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