Chicago Relocation
 

Selling the ‘Green’

January 27, 2015

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General
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John D’Ambrogio

As the demand for green (housing) grows, NAR just released its “Green MLS Implementation Guide“ in hopes of helping MLSs promote ‘green’ housing initiatives by implementing such environmentally friendly data into MLS fields.  I think the idea is brilliant.

NAR is proposing fields for both LEED (Leadership in Energy and Environmental Design) and Home Energy Rating System (HERS).  In addition, it seeks expand the promotion of features not verified by outside sources – an approach that would promote solar panels, Energy Star appliances, etc.

It’s not just about the sizzle.  NAR’s home buyer profile recently showed that consumers are concerned about heating and cooling costs, and these initiatives, while often costly up front, are major energy savers over the life of a home (the trick is living there long enough to get the savings).

So now that the market is back, it may finally be time to go green with a vengeance!

 

Survey Says – Renters Want to Own!

January 13, 2015

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John D’Ambrogio

Fannie Mae recently released it’s national housing survey, and it showed that 2/3 of ‘young renters’ (defined as between 18-39, which is quite a spread in my opinion) think owning makes more sense than renting.

Why?

* Protection against rent increases

* Secure long term investment

It did note that these same ‘youngsters’ have major concerns about qualifying for a loan. That age group often carries over 30k in revolving debt and student loans. A BIG credit score rag down. In addition, that seriously cuts into their ability to put even 10% down on a property.

So what to do? Some are moving back with mom and pop to pay off debt and save, others are going in with roommates in less traditional buyer partnerships. Regardless, it looks like the American dream is alive and well in our nation’s youth!

 

 

Million Dollar (Parking) Baby? Or “Another Reason Why Living in Chicago is Better than NYC”

January 4, 2015

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Chicago Real Estate
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John D’Ambrogio

$30K, $40K, maybe $75K for parking downtown, I get it. I paid a pretty penny for my spot in the south loop.  But when I read what recently happened in The Big Apple, it made me “heart” my little provincial outpost even more.

A recent  Manhattan development at 42 Crosby Street is offering parking at over $6K PER SQUARE FOOT.  That’s for your car, not you.  Although you could probably sleep there.  It’s pretty big – 200SF.

I did the math – I think you could convince Uber Black Cars to give you 24/7 service, forever, for that price.