Take a $250,000 condo where you put 20% ($50K) down.  Assuming you secure a 4.5% 30 year fixed rate your monthly payment will be approximately $1,023 per month.  Now assume your interest rate jumps to 6% suddenly your payment becomes $1,210 per month – an increase of nearly 20%!!!  If you put less money down the increase in the monthly mortgage payment will be even more substantial.

Point being – if you are in the market for a new home, strike while the iron is hot and take advantage of these historically low interest rates.  The advertisements in this are not misleading.

If you are interested in meeting to discuss these new guidelines and/or to learn how to become a licensed real estate agent, please send email to info@frankelgiles.com.  Weichert Realtors® Frankel & Giles will also host a seminar to discuss the new license law and requirements.  Please email info@frankelgiles.com if you are interested in attending Seating will be limited.

 Information provided below is a summary of new guidelines. 

ILLINOIS REAL ESTATE LICENSE LAW
Information provided by IAR

Highlights for the license changes which will begin in 2011 include:
   
Once the transition is complete, there will be only two license categories in IL:  Managing Broker and Broker.  The salesperson license will no longer exist after 4/30/12.  All existing licensed salesperson will need to transition to the broker license category before 5/1/2012.  Existing broker licenses will remain the same, and some brokers will transition to managing brokers.

The transition period begins 5/1/2011 and IAR will publish info to assist licensees with the transition. 

IF YOU ARE INTERESTED IN ATTENDING UPCOMING SEMINAR OUTLINING FULL DETAILS OF THE NEW LICENSE LAW SEND EMAIL TO info@frankelgiles.com  WEICHERT REALTORS® FRANKEL & GILES IS NOW INTERVIEWING AGENTS FOR SOUTH LOOP LOCATION!  CALL 312.225.9700 TODAY FOR DETAILS.

People will always need somewhere to live, whether they chose to buy or rent and this will never change.  The housing market has shifted, but agents are adjusting which is resulting in their continued success. With low interest rates and huge discounts being offered, shoppers are out in full swing looking to take advantage of this once in a lifetime opportunity. 

If you are self-motivated, dedicated, hard working, and a social networking expert, real estate could be the exact thing you need to consider.  Newer agents are finding success, because they are good at using social networking sites to get noticed!  They also are joining the industry doing it the “right way” and are willing to learn the basics of selling real estate, which experienced agents typically find hard to do.

Getting a license fairly simple, and can be done with a 45 hour on-line course.  The start-up costs are minimal, especially compared to a 4 year college degree, and your income is likely to far exceed any other profession.  If you are interested in finding out more about how to get your license and opportunities now available at our South Loop location, I would be happy to meet with you to point you in the right direction. Please email me at brivera@frankelgiles.com to schedule your personal meeting and visit our website at www.frankelgiles.com to see our company history.  I can guarantee…if you decide to get into real estate, you will be glad you did!

GET YOUR REAL ESTATE LICENSE TODAY!

Call Sales Center for appointment 312.225.1300.

 Why the South Loop?

Well first of all, location.  The growth of this market was fueled by the neighborhood’s proximity to the lake, the Loop and transportation. Public amenities abound here and include Grant Park, Millennium Park, the Museum Campus, public transportation and beautiful landscaping everywhere.  The investment in the area by City Hall over the past decade has been remarkable and has spurred an unprecedented amount of private investment over the past 15 years. I can easily say that the South Loop is the most desirable neighborhood in the City (ok, I am biased but a believer!). 

Second, services.  We have the three main food groups – Jewel, Dominick’s and Whole Foods; some of the best restaurants in town including breakfast joints (Bongo Room, 11^thStreet Deli, Yoke), Italian (Gioco, Café Biondi), Hispanic (Tapas Valencia, Zapatista and Quatro), Chinese (Yang’s, Opera and Chinatown is walking distance).  At night the buzz continues – Quatro turns into a hoppin dance club and celebrities often frequent The Shrine on South Wabash.  Live Entertainment happens at Buddy Guys, The Jazz Showcase, and others.  The boutiques are coming with Entourage on Michigan Avenue and five health clubs are here (Bally’s LA Fitness, Fitness Formula, Xport, and LA Boxing).  All of this because several thousand units are built and occupied – as they say, build it and the retailers will come!

Third land.  The area is zoned for high density development and big buildings will be built when the market rebounds.  There remains 60 acres of undeveloped land south of Roosevelt, west of Clark Street, north of 18^thStreet.  The land east of Central Station over the railroad tracks is also planned for three million square feet of residential, commercial and hotels.  Finally, there are still many infill development sites located between Congress, Cermak, the Lakefront and the Chicago River that will get developed in the next cycle.  When this occurs, demand and values will increase.

Since our first development Filmworks Lofts in 1994, Frankel & Giles has focused on the South Loop.  We are physically located in the heart of our neighborhood in our trophy development Dearborn Tower at 1530 S State Street.  We are true insiders and know this neighborhood better that anyone.  We understand values including new construction, renovations, rentals, retail and development.  We know the good buildings, the poor ones, the tough ones to sell and the easier ones. 

Our agents are committed to working harder and providing you the best, most professional real estate services in the City.  We look forward to working with you!

Keith Giles
Managing Broker & Principal

 As a result, they often hire less experienced appraisers and require them to rush their reports.  The reality is that many appraisers are not competent, have incorrect information on their reports, and are undervaluing homes. 

 If a value comes in low for an appraisal be sure to thoroughly check all of the comparables they are using.  We just had an appraiser at Prairie District Lofts who had to revise the appraisal 3 times before getting it right!!!

Please feel free to share your feedback with us – we are continuously trying to enhance our users’ experience and would love to hear from you.

Please stay awhile and thank you for visiting!