“Serial home sellers” take advantage of a tax exemption to turn their fixer-uppers into a healthy profit every two years.
Archive for November, 2005
Five steps to earning $125,000 a year, tax free
Monday, November 7th, 2005Buying a family affair for first-timers
Monday, November 7th, 2005From the Tribune
Traditionally, parents sometimes have helped their kids buy a home. But in the past three to four years, with real estate prices beyond the range of many first-time buyers, parents as well as grandparents increasingly are stepping in to seal the deal.
Should I stay or should I go?
Monday, November 7th, 2005As lifestyles and tastes change, homeowners wrestle with the decision to stay and remodel or move.
Every condo board gets complaints
Friday, November 4th, 2005Just about every condo association board deals with complaints from members. The most likely source of discontent is financial issues, from rising assessments to special fees. But a lot of the friction inherent in the relationship between condo boards and their constituents comes from the owners’ perceptions of community life.
New stores offer custom rec rooms
Thursday, November 3rd, 2005Rec Room Furniture and Games opened two new stores in the suburbs selling furniture and accessories for get-away rooms. The stores in Downers Grove and Deerfield complement one in Algonquin that the company took over last year. The store’s specialty is displaying “theme rooms” in the store, custom-designed home-scale vignettes of pool rooms, arcades, movie theaters, and sports bars. The company hopes to cash in on the growing trend of people buying bigger homes with built-in entertainment features.
Boom’s over, but no bust
Wednesday, November 2nd, 2005In an above-the-fold, front page column yesterday, the Tribune reported that the real estate boom is over, but not necessarily ending in a bust. David Lareah, chief economist for the National Association of Realtors admitted as much, but predicted a “soft landing” for most markets in which prices would stabilize, instead of a “hard landing,” in which home prices actually drop. The Chicago market shows signs of slowing, but so far no indication of a dramatic price drop.
Property taxes and green back
Tuesday, November 1st, 2005Today is the last day to pay Cook County property taxes. After the close of business today, unpaid bills will be charged a 1.5 percent late fee on the amount each month. But Mayor Daley announced that there will be no property tax increase for 2006, the third straight year. Instead, they are offering a $100,000 grant to small businesses and homeowners willing to grow gardens on their roofs. The grants are part of a program encouraging green roofs that can reduce energy costs by 30 percent.
