Rubloff agent, Maureen Moran, understands that four opinoins are better than one. Gain market insight from Maureen’s blog on her four part blog series that provides her market insight, as well, as opinoins from a home inspector, real estate attorney, real estate appraiser, and a loan officer. For more information, visit Maureen’s blog at http://www.chicagodreamhome.blogspot.com.

 When you think of a Realtor the first thing that comes to mind (fairly or unfairly) is the flashy cars they drive. Whether it is a Mercedes, Lexus, or BMW real estate agents are known for driving nice rides. I remember being told to drive a nice car because it demonstrated to my clients that I was successful (of course in those days the only choice was a Cadillac.) Among Realtors in Chicago, Jill Press is among a small but growing minority: realtors who do not own cars. In the following interview, Jill Press explains why she made this lifestyle choice and how it affects her practice of real estate:  

by crandell | 02/15/2009

Jill Press takes the express bus to downtown.

Jill Press is a Chicago Realtor who manages her work and home life without a car. Born in Chicago, she received her BA in Journalism from Temple University in Philadelphia and remained in Pa. before returning to her home city in 1995. Jill has been a Realtor since 1997 and specializes in lakefront properties in the city. She lives in East Lakeview. You can read more about her experience as a carfree Realtor on her new blog, Jill Press Box.

How long have you been carfree and why did you choose that lifestyle?

I’ve been car-free since 1983.

I’d moved to Philly in August 1982 along with my then four-year-old son, leaving our 200-year-old log cabin-turned-three-bedroom-house on two secluded, wooded acres in rural Berks County, Pa.

After a few short months living in Center City, I came to realize that owning a car in an urban environment was just not for me. I was not geared up (!) for auto maintenance; insurance rates were sky-high; finding parking was a major debacle if I’d get home after 8 p.m. Sound familiar?

Plus, Center City was such a cute, self-contained little neighborhood. I had all the shops, my gym, everything within easy walking distance; there was no reason to keep a car.

So I bought a bicycle, a Fuji 12-speed which I still ride, placed an ad for my white VW Rabbit in the Philadelphia Inquirer, sold it for my asking price and never looked back! In fact I have had a goal ever since: never to own a car again…

I’m guessing being a buyer’s agent, you have to travel around the city a lot with clients. How do you show clients properties without a car?

As a car-free realtor, working with buyers is easy and enjoyable! First, understand that most people in the city own a car; couples often own more than one. Example: I’m working with a couple, Mr. and Mrs. Buyer, and we’re scheduled to see six houses one afternoon in the Jefferson Park/Portage Park areas. Depending on where I’m meeting them and where I’ve been just prior to our appointments, I simply take CTA (bus or train) or a taxi and meet them at our first showing; then I ride along in their car for the remaining five showings. When we’re done, I make my own way to my next destination.

I feel I add far more value to buyers as their agent when I am pointing out neighborhood sites, answering their questions, and discussing pertinent real estate issues while one of them does the driving and the parking.

Before I start working with a new buyer I let them know that I am a “hard core urbanite” who doesn’t believe in having a car in the city; that it is a personal lifestyle choice, one that I embraced long before getting into real estate; then I proceed to explain how I work and no one has ever objected!

In the rare instance that a buyer of mine does not own a car, he or she will be looking to live somewhere along the lakefront in close proximity to CTA. Makes sense! So, again, I will meet the buyer at the first location, most often a downtown high-rise. Then we can usually walk to the other buildings in the same vicinity. If it’s not an easy walk, I take us in a taxi.

One out-of-state couple actually asked me to show them how to take the CTA. They said, “We want to be like Jill.” So we took a bus, we took the Red Line, we took taxis; and they bought a condo and moved to Streeterville. Shortly after they moved in the lease on their car was up and they did not renew the lease! That was over two years ago; and to this day (I just had lunch with them last week) they are thrilled to be car-free; they shop locally and if they need to go out to the ‘burbs they rent a car. Quite simple!

I love the idea of showing the local train stop along with the property. In the city, I feel like you’re not just buying a home with real estate, you’re buying a neighborhood. Considering how many people in my neighborhood take transit even if they own cars, I’m curious how important you think transit is to the real estate market in Chicago.

OMG! Transit is very important to most city buyers even if, as you correctly point out, they own a car. First, as buyers (and not yet owners) they’re always thinking “resale value” and inherently understand that “Close to Transportation” is a very good place to be. Location Location Location, the prime mantra of any real estate market.

But more important, once they become owners, they want the convenience of hopping on the “L” for an evening concert at Millennium Park; or taking the 135 LaSalle Express downtown and back each workday; or the Red Line to a baseball game; the Blue or Orange Lines to the airports! And they want all of the above easily accessible from their homes! So, yes, transit is very important to the Chicago real estate market. If only more people knew it…

I couldn’t agree more that people buy not only the real estate but they buy into a neighborhood. In relation to the downtown buyer without a car: Our real estate search is, in effect, a practice run for how the buyer will live her life on a daily basis. We walk, we see, we feel the fabric of the neighborhood. We board a bus for a short ride and we are connected to greater humanity. And I’m not being melodramatic.

I know that without a car in Center City I got to know Philly in a way that I would never have experienced if I’d stayed in my car. Walking from river to river, biking to the Italian Market and beyond, what a great way to feel the neighborhoods, to get to know the people! I got my degree at Temple University in North Philly via the Broad Street Subway and my trusty Fuji!

Chicagoans KNOW that the city is way too congested; they want the transit to be there for them when they want it. They know good public transportation increases the value of their real estate. Easy access translates into more commerce, more diversity and opportunity — in sum: a greater quality of life.

Do you have a favorite memory of a moment when a bus or train ride gave you that feeling of being connected to Chicago and greater humanity?

I could enumerate many dramatic moments that would be of interest, but for me it’s not about one favorite memory.

The feeling I have as a commuter — a deeper connection to Chicago and greater humanity — has developed over a great deal of time. Remember, I’ve been car-free by choice for longer than some of your readers have been alive! So, call it a cumulative effect.

When I’m surrounded by strangers all being transported to different destinations, I am drawn to a sense of mystery; and at the same time I detect a similarity. Whatever the case may be, I suppose I merely enjoy being part of, contributing to the mystery that is humanity!

Check it out: http://carfreechicago.com/node/565

 Posted: January 26th

In light of the upcoming holiday, President’s Day, this article is based on the Kenwood neighborhood in Chicago. For more information on President Barack Obamas’ Chicago residence click here http://www.cyberhomes.com/content/blog/09-02-13/Obama_s_neighborhood.

NAHB estimates that the $15,000 tax credit would boost home sales by almost 500,000

RISMEDIA, February 11, 2009-(MCT/RISMedia)-The Senate, with only scant Republican support, passed an $838 billion economic-stimulus plan Tuesday that would provide significant tax breaks for new car and home buyers but sharply trim billions in aid that states have been seeking. The vote was 61-37.

The House of Representatives passed similar legislation last month, and a negotiating committee of top congressional tax and budget experts plans to begin reconciling differences immediately.

Their goal is to produce legislation that costs no more than $838 billion -the House version was $819 billion – by the end of the week, so that President Barack Obama can sign it Monday, on Presidents Day.

The Senate vote came on a historic day, as the Federal Reserve and Treasury Department unveiled details of their effort to bolster the banking industry and credit markets and Obama took his stimulus campaign to Fort Myers, Fla., which has been rocked by the mortgage foreclosure crisis.

At the Capitol, the drama now shifts to the negotiators, and the final Senate debate Tuesday illustrated the difficulties that they face.

Part of the problem is political, as the vote reinforced the notion that despite Obama’s efforts at bipartisanship, the legislation is very much a Democratic bill.

Democrats hailed the bill as historic and necessary. “Every generation must face up to its own challenge. This economic emergency is ours,” said Senate Finance Committee Chairman Max Baucus, D-Mont. “Let us pass this bill and rise to the economic challenge of our generation.”

Most Republicans, however, dismissed the measure as loaded with spending that would do little to stimulate the economy. Sen. Kay Bailey Hutchison, R-Texas, noted that the bill costs “$1 billion per page.”

Republicans railed against such inclusions as $200 million to consolidate the Department of Homeland Security in Washington, $100 million for grants to small shipyards and about $1 billion to improve parks.

“In every version of the stimulus we’ve seen, wasteful spending has attracted the most attention,” said Senate Republican leader Mitch McConnell of Kentucky. “But even more worrisome to many is the permanent expansion of government programs.”

Republicans, though, control only 178 of the House’s 435 seats and 41 of the 100 Senate seats, giving them little say in the final product.

More crucial will be the three Republican senators who became the only Republicans in either house of Congress to vote for a stimulus bill, Maine’s Olympia Snowe and Susan Collins and Pennsylvania’s Arlen Specter.

They agreed to join the Democrats after winning agreement to cut about $110 billion from the original Democratic-authored Senate package last week.

They’ve signaled that they’re reluctant to see those cuts restored, however, which could prove a problem for House Democrats.

Collins, for instance, has made it clear to the White House that, as she put it, if the bill ends up with “a lot of the unnecessary expenditures crammed back in it” and less tax relief, “the Democrats will lose my vote.”

House Speaker Nancy Pelosi, D-Calif., has called some of the Senate cuts “very damaging,” suggesting that negotiations will be rough.

NAHB: $15,000 Home Buyer Tax Credit Will Get U.S. Economy Back on Track

In a statement released by the National Association of Home Builders (NAHB), the organization applauded Senate passage of economic stimulus legislation.

“The enhanced $15,000 tax credit offers a powerful incentive for home buyers to get off the sidelines and represents the best opportunity for economic recovery,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “Congress must make sure that the full $15,000 tax credit remains in the final stimulus plan.”

The bipartisan amendment to the stimulus package, offered by Sens. Johnny Isakson (R-Ga.) and Joe Lieberman (D-Conn.) and approved by unanimous voice vote, would create a $15,000 home buyer tax credit available to all purchasers of a principle residence for one year after its date of enactment. The tax credit would not have to be repaid and buyers could claim it against their 2008 and/or 2009 tax returns.

The $15,000 home buyer tax credit would replace and sunset a much narrower tax credit that was enacted last year. Available only to first-time home buyers, the current $7,500 tax credit works like an interest-free loan that must be repaid over a 15-year period. It is set to expire on July 1.

Extending and expanding the home buyer tax credit will spark the activity the economy needs to stop shedding jobs and begin creating them, said Robson.

“Increasing demand for housing will create jobs and help reduce excess inventory, stabilize home values, mitigate foreclosures, bolster consumer confidence and set the stage for a broader economic recovery,” said Robson.

NAHB estimates that the $15,000 tax credit would boost home sales by almost 500,000, create more than 255,000 jobs, generate $12.3 billion in wages and salaries and increase federal, state and local tax revenue by $8.7 billion.

The Senate bill also includes several other provisions that will help small businesses and bolster the housing market.

The legislation would:

- Increase bonus depreciation and Section 179 small business expensing;

- Allow a five-year carry back for net operating losses;

- Provide $2 billion in gap financing for the Low Income Housing Tax Credit (LIHTC) program and accelerate credit claims for LIHTC investors;

- Provide up to a 10-year deferral for income taxes arising due to cancelled or restructured business debt;

- Extend the New Markets Tax Credit; and

- Provide an Alternative Minimum Tax patch for 2009.

To lead the economy back to higher ground, Robson said that House and Senate conferees must ensure the $15,000 home buyer tax credit remains intact and is part of the final legislative package.

“The $15,000 housing tax credit has strong support on Main Street and will start working the day the bill is signed into law,” he said. “It offers the best chance to revive housing and the U.S. economy.”

‘Treasury’s New Plan Is Right on Target’

The Real Estate Roundtable also enthusiastically supported the sweeping efforts aimed at removing illiquid assets weighing down the nation’s financial institutions and threatening the economy.

“The Obama Administration’s comprehensive approach to stabilize financial markets by bringing liquidity back to the economy through responsible fiscal policy is right on target,” said Real Estate Roundtable CEO Jeffrey DeBoer.

[The] plan announced by Treasury Secretary Geithner [yesterday] dramatically expands the Fed’s Term Asset-Backed Securities Loan Facility (TALF) to include new commercial real estate securities. “The Treasury’s announcement today is an extremely positive step toward reconnecting the credit markets for the huge commercial real estate sector. Extending the Term Asset Backed Securities Loan Facility to newly originated AAA securities backed by commercial real estate loans is a prudent and common sense reform that will have direct, positive effects for the economy. One especially important element of the plan is how it would attract private capital, which is essential to strengthening the economy and minimizing the impact on the taxpayer,” said DeBoer.

He added, “Treasury is pursuing the right strategy now to help avoid a potential foreclosure disaster in the commercial real estate sector, which is a cornerstone of the economy. With hundreds of billions of commercial real estate mortgages maturing this year alone and no functioning credit market, many people are concerned that borrowers will technically default. Left unchecked, this could have extremely negative implications for local communities, jobs, and investors.”

Real estate directly and indirectly generates economic activity equivalent to about 20 percent of GDP. It creates some 9 million jobs and generates millions of dollars in federal, regional and local tax revenue. Credit to commercial real estate markets from many sources has been paralyzed and needs to be revived. “How and when the slide in property values is abated depends a great deal on policy actions in Washington, and we should pay careful attention to the details to make sure we get this crucial part of the plan right and the program can reach its full potential. Today’s announcement, coupled with the job creating stimulus bill being debated on Capitol Hill, starts to chart a path out of the current downward economic spiral. Additional steps may be necessary, but the essential foundation for restoring a credit market is now being laid,” said DeBoer.

Breaking It Down by State

States took the biggest hit in the Senate package, as members halved the House’s $79 billion State Fiscal Stabilization Fund, aimed at helping states pay education bills, and eliminated a $20 billion school construction fund.

The Senate offers more generous tax breaks, notably $70 billion to help some taxpayers avoid the alternative minimum tax this year, a tax credit of $15,000 or 10 percent of the purchase price of a new home and a tax break for new car buyers.

House Majority Leader Steny Hoyer, D-Md., conceded that the AMT fix probably will stay in the final bill- it has long had broad support- but the fate of the car and home tax breaks is uncertain. States and education groups also are lobbying fiercely to get money restored.

Looming over the deliberations is uneasiness about whether the bill will prod the economy significantly.
A Congressional Budget Office analysis of the Senate measure found that it would add $214 billion to the projected $1.2 trillion fiscal 2009 deficit, and add another $441.2 billion next year.

© 2009, McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to:realestatemagazinefeedback@rismedia.com.

This recording is from WGN’s “The Money Show” with host Bill Moller. Ron Goldstein, Rubloff, is a participant and gives his views on the current state of the real estate market. This show focuses on technology, identity theft, mortgage rates, and where to put your money.

Click here to listen. WGN The Money Show

On behalf or our outgoing referral production, Rubloff Relocation has been nomidated for the 2008 award of excellence. “To be nominated for this award is an honor,” states Rubloff’s John D’Ambrogio. Not only is Rubloff proud of this nomination but it also qualifies them for the 2008 Crown of Excellence award which is based on exceptional performance in outgoing referral production, outgoing sales production, and incoming conversion rates. Each award is presented to top companies with conversion rates exceeding 30%. These awards will be granted at the Awards Gala for the 2009 Annual Conference in Scottsdale, AZ held from March 26-28, 2009. This event,  hosted Leading Real Estate Companies of the World, will include all network affiliates across the country to participate in multiple workshops allowing its members to collaberate and boost production for 2009.

Rubloff agent Eric Rojas, a well-known blogger, comments on why he plans to refinance his mortgage. To add, Brian Cumpton a loan office with Rubloff’s in-house mortgage affiliate RWF, elaborates on who is eligible to complete the transaction of refinancing. To learn more, click on this link to watch a video clip http://news.medill.northwestern.edu/chicago/news.aspx?id=113215.