Major credit agencies agree to changes

Medical debts won't be reported until after a 180-day waiting period to allow time for insurance payments to be applied. People who contest items in their credit reports will recei





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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate

New Construction = New Competition | Keeping Current Matters

For the last several years, home sellers had to compete with huge inventories of distressed properties (foreclosures and short sales). The great news is that the supply of these properties is falling like a rock in the vast majority of housing markets (only 11% of homes sold in January). Many homeowners are now thinking of selling as the impact of this substantially discounted competition has disappeared.

However, every seller of an existing residential property must realize that there is a new form of competition in the market: newly constructed homes.

According to the National Association of Realtors’ Profile of Home Buyers & Sellers new home sales accounted for 16% of all homes sold in 2014. The graph below shows the top 5 reasons that a buyer would choose new construction over an existing home.

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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate

4057 Glendenning Road Downers Grove, IL 60515

4057 Glendenning Road Downers Grove, IL 60515

Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate

5 Ways to Prep Your Home for the Spring Selling Season

long with tulips and daffodils, "For Sale" signs soon will be popping up on neighborhood lawns. An improving U.S. labor market is expected to spur increased home sales in 2015, so if you've been wanting to sell your home, low interest rates and tight inventory levels should create an attractive environment.

"With the improving economy, we will see more people leaving their parents' homes. Living in your parents' basement isn't part of the American dream," says Lawrence Yun, chief economist at the National Association of Realtors. "Nearly three million new jobs were created in the last 12 months, and that provides incomes for families and confidence for making long-term decisions."

The NAR forecasts a jump in existing home sales in 2015 to 5.25 million, an increase from 4.93 million sales in 2014. The national median existing-home price was $208,500 in 2014, a 5.8 percent increase from 2013. Yun forecasts the median home price to rise again in 2015 to $218,300.

Inventory levels, or the number of homes for sale, remain tight, which could give sellers an edge. "For most of 2014, inventory stood at 4.5 to 5.5 months of supply. That compares with a more balanced market of 6 to 6.5 months' supply," Yun says.

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7-Step Guide to Selling a House - Real Estate News

Millions of existing homes are sold each year and, while each transaction is different, every owner wants the same thing: the best possible deal with the least amount of hassle and aggravation. 

Home selling has become more complex than it used to be. New seller disclosure statements, longer and more mysterious form agreements, and a range of environmental concerns have all emerged in the past decade.

More importantly, the home selling process has changed. Buyer brokerage, the process in which REALTORS® represent home buyers, is now common nationwide and good buyer-brokers want the best for their clients.

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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate

What is a Grandfather Clause? (with picture)

Sometimes a new city ordinance or building code change will immediately cause hundreds of older buildings to be in violation. Rather than penalize the buildings' owners, the government will insert a grandfather clause into the language of the new regulation. A grandfather clause is an exemption which allows current businesses or property owners to continue operating under the previous laws. A historic restaurant may be exempt from modern sprinkler laws, for example, because the retrofitting would be too expensive or difficult. A new restaurant built next door, however, would be required to meet the current fire safety codes.





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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate

Snow Blower Maintenance Tip - ConsumerReports

Don't let caked-on ice slow your snow blower

Clear the blades and chute of snow before stowing your snow blower

A little bit of snow left around the auger and snow-blower chute might not be a concern even if you store your snow blower in an unheated garage or shed. But if packed-in snow freezes into a block, you’ll need to chip it out before you can run the snow blower again.





Your better bet: Remove the excess before it freezes. First, run the auger out of snow for several seconds to shake off what you can. Then shut it off. You can use a windshield scraper for breaking off anything caked on though the chute-clearance tool that comes with many models works just as well. If you happen to have one, an air compressor with an air-gun attachment works wonders for this purpose. Be sure to clear excess snow from the chute as well as the auger and, with a two-stage model, the impeller in back.

Another piece of advice relates to salt from the snow municipal plows leave at the end of driveways. Once temperatures rise enough that ice is less of a concern, turn on your outside water, connect a hose and water down the chute and auger box. (Be sure to let it dry before stowing.) If you store your snow blower without rinsing it off, the salt can promote rust.

















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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate