To Do BY DECEMBER 31ST to Lower your Tax Bill

• Pay your 2018 property taxes by 12/29.  You can deduct your local property taxes from your federal income tax bill, but starting Jan. 1, there's a $10,000 limit on all of your state and local taxes, including property taxes.
• Make your business expenses now.  Buy everything you can by year end.
• Max out as many other deductions as you can.  The general rule of thumb is: Try to take the credit or deduction in 2017.
• Put more money into your 401(k) or IRA retirement plans if you can.
• Prepay your home-equity loan interest.  That deduction goes away next year.
• Another deduction that's going away in 2018 is for tax preparation services.  Pay it now, you can still deduct it.
• Try to prepay investment management fees, since those are going away, too, in 2018.
• Delay income until 2018.

Pay your property taxes TODAY!

Cook County Treasurer Maria Pappas has expedited next year's first installment bill in order to allow more accurate prepayments.  The bills are available at her website cookcountytreasurer.com and prepayments can be made online through Chase banks for the first time, she said.

Essentially, homeowners can prepay an amount equal to their previous year's tax bill since the pending year's tax bill is unknown, officials said.  They can prepay only up to one year.  They will be billed for any increase in their taxes or sent refunds in the slim chance their property tax burden was reduced.

Prepayments need to be made by Dec. 29, the last business day of 2017, to count on this year's tax returns.

Information Viewed on Several News Sites: Builders Blast Tax Proposal; Realtors not Smiling Either

According to National Association of Home Builders (NAHB) and Chairman Granger McDonald, the Republican tax reform proposal: "the bill eviscerates existing housing tax benefits by drastically reducing the number of home owners who can take advantage of mortgage interest and property tax incentives. Capping mortgage interest at $500,000 for new home purchases means that home buyers in expensive markets will effectively lose this housing tax benefit moving forward."

It cuts the corporate tax rate from 35 percent to 20 percent but appears not to eliminate many of the current exemptions that cut the average corporate tax bill to 18 percent.  The bill would reduce the current six tax brackets to four; 39.6 percent for households making more than $1 million annually, and 35 percent on incomes from $260,000 to $1 million.  A 25 percent rate would apply from $90,000 to $260,000, and 12 percent from $24,000 to $90,000.  Households making less than $24,000 would pay no income tax.

The plan: 

• Caps the mortgage-interest deduction on new home sales at $500,000 rather than the current $1 million for couples filing jointly.
• Caps deductions for state and local property taxes at $10,000 and repeals other state and local tax deductions.
• Eliminates deductions for student loan interest
• Taxes endowments at large schools at a 1.4 percent rate.
• Raises the childcare tax credit from $1,000 to $1,600, and 
• Leave provisions for 401 (k) retirement savings plans untouched.

"Meanwhile, as corporations receive a major tax cut, small businesses, which generate the lion's share of job growth, get limited relief.

According to Granger, "Congress is ignoring the needs of America's working class families and small businesses.  And by undermining the nation's longstanding support for homeownership and threatening to lower the value of the largest asset held by most American families, this tax reform plan will put millions of home owners at risk."

How and What to Recycle

Goodwill, the Salvation Army, and similar organizations take used clothing and household goods (use thethriftshopper.com to find shops near you).

Animal shelters: old linens

Earth 911: The ultimate recycling resource; takes items such as crayons, keys, golf balls, trophies, corks- and a whole lot more (search: earth911.com/what=)

Freecycle.org: Your trash may be someone else's treasure.

Some grocery stores: Foam egg cartons; yogurt cups; butter tubs; deli containers; plastic shopping  bags and those from news papers and dry cleaners; wraps from bread, bathroom tissue, paper towels, etc.

Habitat for Humanity (habitat.org): Paint, tile, lumber, cabinets, fixtures

Terracycle.net: Transforms loads of used products into new ones.

Latest Mortgage Rates as of 9/29/2017

Mortgage rates have held steady since my last update.  I keep seeing many sources forecasting higher mortgage rates heading into 2018.

Here are the latest mortgage rates:

Conventional: 

• 30 year fixed = 3.875%
• 20 year fixed = 3.75%
• 15 year fixed = 3.25%
• 10 Year ARM = 3.75%
• 7 Year ARM = 3.50%
• 5 Year ARM = 3.375%
• FHA / VA = 30 year fixed rate = 3.875%
• 
  
• Jumbo (loan amounts over $424,100) 
• 30 year fixed rate = 4.125%
• 15 year fixed rate = 3.50%
• 5 year ARM = 3.25%
• 7 year ARM = 3.50%
• 10 year ARM = 3.75%

** Above rates considering 740+credit score, 25% down payment, owner occupied, 30 day rate lock, $250,001 minimum loan amount, purchase & escrows. Rates can change at any time without notice..


Please let Scott know if you have any mortgage related questions.

Below is Scott's contact information. I have used Scott's services many times.

Scott Jacobsen
Vice President of Residential Lending
Cell #: (630) 673-3103
E-fax #: (312) 592-2232
Email: Scott.Jacobsen@KeyMortgageServices.com
Website: www.KeyMortgageServices.com/ScottJacobsen
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173

Independent Lab

Latest Mortgage Rates as of 9/8/2017

Mortgage rates have dropped slightly again since my last update and are currently at the lowest levels in 2017.  Here are the latest mortgage rates:

Conventional: 

• 30 year fixed = 3.75%
• 20 year fixed = 3.50%
• 15 year fixed = 3.125%
• 10 Year ARM = 3.625%
• 7 Year ARM = 3.375%
• 5 Year ARM = 3.25%
• FHA / VA = 30 year fixed rate = 3.875%
• 
  
• Jumbo (loan amounts over $424,100) 
• 30 year fixed rate = 3.875%
• 15 year fixed rate = 3.50%
• 5 year ARM = 3.00%
• 7 year ARM = 3.25%
• 10 year ARM = 3.50%

** Above rates considering 740+credit score, 25% down payment, owner occupied, 30 day rate lock, $250,001 minimum loan amount, purchase & escrows. Rates can change at any time without notice..

Please let Scott know if you have any mortgage related questions.

 

Below is Scott's contact information. I have used Scott's services many times.

Scott Jacobsen
Vice President of Residential Lending
Cell #: (630) 673-3103
E-fax #: (312) 592-2232
Email: Scott.Jacobsen@KeyMortgageServices.com
Website: www.KeyMortgageServices.com/ScottJacobsen
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173

Latest Mortgage Rates as of 9/1/2017

Good morning,

I wanted to wish you a fun & safe Labor Day weekend!!!

Mortgage rates have remained surprisingly unchanged since my last update and still at the lowest levels in 2017. Here are latest mortgage rates:

Conventional: 

• 30 year fixed = 3.875%
• 20 year fixed = 3.625%
• 15 year fixed = 3.25%
• 10 Year ARM = 3.75%
• 7 Year ARM = 3.50%
• 5 Year ARM = 3.25%
• FHA / VA = 30 year fixed rate = 4.00%
• 
  
• Jumbo (loan amounts over $424,100) 
• 30 year fixed rate = 4.00%
• 15 year fixed rate = 3.50%
• 5 year ARM = 3.25%
• 7 year ARM = 3.50%
• 10 year ARM = 3.75%

** Above rates considering 740+credit score, 25% down payment, owner occupied, 30 day rate lock, $250,001 minimum loan amount, purchase & escrows. Rates can change at any time without notice..

Below is Scott's contact information. I have used Scott's services many times.

Scott Jacobsen
Vice President of Residential Lending
Cell #: (630) 673-3103
E-fax #: (312) 592-2232
Email: Scott.Jacobsen@KeyMortgageServices.com
Website: www.KeyMortgageServices.com/ScottJacobsen
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173

Keep your personal information safe

Account takeover fraud: a thief uses your personal information to access your financial accounts and reroute your account communications in order to keep you in the dark. The thief might clean out your funds, request credit cards, or pose as you to borrow money.

Card-not-present fraud: crook uses your stolen credit card information to buy things online or on the phone. That way they can circumvent EMV cards since the card doesn't need to be physically present.

New account fraud: a new account is fraudulently opened in your name and you aren't aware of it because all account information is sent to the thief who created it.

W-2 fraud: a crook sends an official-looking email that purports to be from a company executive or the IRS, requesting W-2 or payroll data. These emails are designed to get information that can be used for crimes like filing fraudulent tax returns for refunds.


The most obvious ways to protect yourself from identity theft is to check your accounts often. Utilize account alerts and look at transactions to make sure they are yours. The more immediately a financial institution or credit card issuer is notified that fraud has occurred on an account, the sooner they can act to limit the damage. Early notification can also help limit your liability in some cases.


Other basic protections:

Don't use simple passwords. Create strong, unique passwords that use a mix of numbers, symbols, and letters. Avoid using common words, obvious passwords like "1234567" or personal information. Have different passwords for all accounts and utilize two-factor authentication.

Be sure to check your credit reports. Federal law requires each of the three major credit reporting agencies - Experian, TransUnion, and Equifax - to give you a free credit report at your request each year. You need to check your credit report to make sure the information is complete and up-to-date. If an identity thief uses your information to open a new credit card account in your name, for example, and doesn't pay the bills, the delinquent account is reported on your credit report. So check the history and status of your accounts.

Consider a freeze. Placing a credit freeze (aka security freeze) on your credit files lets you restrict access to your credit report, making it more difficult for thieves to open new accounts in your name. It doesn't stop a thief from accessing your existing accounts. Each state has its own rules about credit freezes and how much you pay for them. Contact the nationwide credit reporting companies for more info.

Latest Mortgage Rates as of 7/21/2017

We just received the most recent mortgage rates, courtesy of Scott Jacobsen, Vice President of Residential Lending at Key Mortgage Services.
"Keeping you informed and updated: the mortgage rate market continues to improve for buyers. Pricing has improved slightly on the 30-year fixed rate products since my last update."

Here are the latest mortgage rates:

• 30-year fixed = 3.875%
• 20-year fixed = 3.625%
• 15-year fixed = 3.25%
• 10-Year ARM = 3.75%
• 7-Year ARM = 3.50%
• 5-Year ARM = 3.25%
• FHA / VA = 30-year fixed rate = 4.00%
• Jumbo (loan amounts over $424,100)
• 30-year fixed rate = 4.00%
• 15-year fixed rate = 3.50%
• 5-year ARM = 3.25%
• 7-year ARM = 3.50%
• 10-year ARM = 3.75%

Below is Scott's contact information. I have used Scott's services many times.

Scott Jacobsen
Vice President of Residential Lending
Cell #: (630) 673-3103
E-fax #: (312) 592-2232
Email: Scott.Jacobsen@KeyMortgageServices.com
Website: www.KeyMortgageServices.com/ScottJacobsen
NMLS # 664645
Key Mortgage Services
475 N. Martingale Rd. Suite #100
Schaumburg, IL 60173

Latest Mortgage Rates 6/23/2017

We received information from Scott Jacobsen, Vice President of Residential Lending of Key Mortgage Services, on the latest mortgage rates. Keeping you informed and updated- "per scott". 

The mortgage rates markets were quiet this week, with very little movement. 
Here are the latest mortgage rates:

• 30 year fixed = 3.875%
• 20 year fixed = 3.625%
• 15 year fixed = 3.25%
• 10 year ARM = 3.625%
• 7 Year ARM = 3.50%
• 5 Year ARM = 3.00%

• FHA/VA = 30 year fixed rate = 3.875%

• Jumbo (loan amounts over $424,100)
• 30 year fixed rate = 4.00%
• 5 year ARM = 3.125%
• 7 year ARM = 3.375%
• 10 year ARM = 3.625%

Scott Jacobsen 

Vice President of Residential Lending

Cell: (630) 673-3103

E-fax: (312) 592-2232

Email: Scott.Jacobsen@KeyMortgageServices.com

Website: www.KeyMortgageServices.com/ScottJacobsen

NMLS # 664645

Key Mortgage Services

475 N. Martingale Rd. Suite #100

Schaumburg, IL 60173

Home-Warranty Policies

Offering to buy a one-year home-warranty policy for a prospective buyer is a good idea. A typical home-warranty policy provides for the repair or replacement of most appliances, the electrical and heating systems, the water heater, and a handful of other items that might break down or wear out within a year after the new buyer moves in. These policies give buyers an extra measure of confidence to make an offer and close a sale. $500 or so for all the coverage that a home-warranty policy provides would be a wise investment because it could help the property sell faster, but also because it would provide both you and the buyers another layer of protection. 

Some Home Safety Tips

Here are some basic tips to help you improve your home. 

Fire Safety. Check smoke alarms. Place in each bedroom and on every level of your home. Test smoke alarms once a month to make sure they are working. 

Home Security. Be sure your home is protected from unwanted visitors by boosting your home's security. Use motion sensor lights for the outdoors, and join a neighborhood watch program. Get electronic locks that allow you to control access to your home anywhere. Or you can install a security and surveillance system. 

Emergency Preparedness. Does everyone in your household know what to do in case of emergency? Create evacuation plans for different types of emergencies, such as fires, tornadoes, or hurricanes. Practice each plan with your family. 

The Latest Mortgage Rates

We received information from Scott Jacobsen, Vice President of Residential Lending of Key Mortgage Services, on the latest mortgage rates. 

• 30 year fixed = 3.875%
• 15 year fixed = 3.25%
• 7 Year ARM = 3.375%
• 5 Year ARM = 3.00%
• FHA/VA = 30 year fixed rate = 3.875%
• Jumbo (loan amounts over $424,100) 30 year fixed rate = 4.00%

Maintenance Tip: Dryer Vent Cleaning

People are surprised to learn about the fire hazards associated with dirty dryer vents. You can see in the DryerVentCleaner.com video and according to the U.S. Fire Administration, 2,900 clothes dryer fires occur each year- ignited by accumulated dust, fibers, and lint in the vent. 

The following maintenance steps are recommended to keep your dryer working safely. 

• Clean the lint screen after each use

• Have a professional company clean your dryer vent annually 

• Keep your dryer from overheating by regularly inspecting the exhaust vent and by removing built-up lint and debris 

A warning sign your dryer vent may be clogged is your clothes take longer than normal to dry. 

Home in good repair before listing?

     If you own a home in the suburbs for less than $500,000 you will likely benefit from a strong "seller's market" shortage of inventory in the lower price ranges.
     Do not make the mistake of thinking you don't have to update that house or condominium. Paint it, stage it, and price it well.
     It still has to be priced right, in good repair, and be updated with the items that today's buyers are looking for. Like fresh neutral wall paint, hardwood floors, stainless steel appliances, granite, or quartz counter tops, and updated bathrooms.  

Older baths make a house look dated

     A bathroom in any house can always tell when it was built or last refinished.
     Bathrooms now feature much larger tiles. Taller tiles add perception of a higher ceiling in the bathroom. The hot tile colors today are gray tones, along with white porcelain.
     People are opting for stall showers with benches and multiple shower functions, such as hand showers and body sprays.
     Those who want bathtubs are gravitating toward air system tubs, known as       Thermomasseurs, blowing warm air into the tub without recirculating the water. These tubs allow people to use aroma therapy oils and bath salts that can ruin a typical whirlpool tub.
     Heated floors add comfort to the bathroom. 

SIX TIPS WHEN HIRING A HOME INSPECTOR

1. ASK a trusted Real Estate Agent, Lender, or your Better Business Bureau for a referral.

2. HIRE an experienced professional who belongs to the American Society of Home Inspectors (ASHI) and/or the International Association of Certified Home Inspectors.

3. BE SURE the Inspector has certification training and is licensed and also has insurance for general liability, errors, and omissions. 

4. ASK for a sample of the Inspection Report to make sure it covers everything important to you. 

5. A HOME INSPECTION should take about 2.5 hours or more and yield a written, thorough Report that indicates defects, recommendations, and includes photos. 

6. ASK yourself, are they answering all of my questions? Are they explaining things clearly? You should attend the Inspection and let the Inspector point out to you items of concern.

Deed in lieu: faster, simpler than foreclosure

Deed in lieu is a deed in lieu of a foreclosure.

The title goes back to the lender.

Depending on the facts, you may not have to pay anything.

A foreclosure means that the lender tries to sell the property at an auction sale or the through MLS, a listing service.

Vacation Break? Protect Yourself

It's that time of year - families go out of town. Here are some tips to consider, so you don't come home to a disaster. 

1. Hold Your Mail A pile of mail on the front doorstep, or envelopes pouring out your mail slot invites trouble. 

2. Forget The News Stop newspaper deliveries while you are gone. 

3. A Helpful Hand Ask a neighbor to keep an eye on your home.

4. Keep it Bright Leave a few lights on timers. 

Have a great and worry-free time on your trip!

Pace Express

My Priorities are Simple ... They are "Yours"

Maintaining the highest level of integrity & customer service while providing my clients with a personal commitment for successful results.
Understanding your emotions, both stressful and joyful that are involved in buying or selling a home.
Guiding your to make the best decisions.

A Homeowner in the Northwest Suburbs for over 40 years and a licensed Realtor since 1978, using my extensive knowledge & experience to serve you.
Specializing in Residential Real Estate and having earned the distinction of setting "top dollar" home sales in the Northwest Suburbs.

Celebrating over 38+ years of serving You!

Marylee Nowak

Real Estate Broker

Brokerocity, INC.

847-458-2875

MaryleeSoldEm@aol.com

Cheering Up Your Home

Bringing Nature Indoors

Add a couple of plants around your home. You can even plant flowering bulbs inside a large bowl. Or you can go to a nearby store and purchase fresh flowers.

Glimmer of Light

Employees at a nearby hardware store can help you find "daylight bulbs" which adds the illusion of sunlight to your home. Have at least three sources of light in any room.

Fur and Fragrance 

Add fragrance to a room like a nice candle or spices from your kitchen. Faux fur also creates a pleasing sensory experience to your home.