Tag Archives: renovations

9 Experts Every Home Buyer Should Have On Their Team – Part I

Real Estate wasn’t the first industry to require a 9-person team.

First time buyers tend to focus entirely on their choice of Realtor when it comes to choosing the associates that you’ll work with over the course of the purchase and moving process. It’s their general hope that a Realtor will be sufficiently well-connected to hook them up with all the other experts that they will need to get the job done right. This is potentially true.

However, no Realtor can know every expert in every area, and very few can know precisely what issues will arise during the course of your particular search. While your Realtor may be able to make some very solid recommendations for these 10 roles, your personality type and learning style may demand someone outside of their sphere. As is always the case here at StrawStickStone, I recommend doing some research on your own to find the team members that are best at making you feel comfortable with the process.

1. Credit Counselor.

If you’re like most of the renters out there, your credit is not in the best condition. You’ll need a credit score in the high 600 range to even be considered for a loan, and in the low to mid 700’s to get a prime interest rate. According to Andrew Ross, the NYU professor who recently wrote the controversial “Are Student Loans Immoral” for Newsweek’s DailyBeast.com, 41% of the college class of 2005 is already delinquent or in default on their student loans. These former students are now in their late 20’s, what used to be prime position for becoming first time buyers. They will need help.

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Making It Your Own vs Just Owning

Today: Extreme home decorating, TRON style! (Just kidding. Well, about the TRON bit, at least.)

I used to work in Chicago’s ample theatre scene for several years before I got into real estate. In fact, theatre is what brought me out here – I started my Chicago tenure with a year-long stage management internship at Steppenwolf in the late 90’s. The best introduction to this article that I can think of involves reaches back to those days for the story of a set designer who was pretty well known in Chicago for her adventurous scenery endeavors.

Normally when a set designer first visits a performance space he or she will take measurements of the existing dimensions so that they can create a set that will fit on the existing stage. This is logical. The designer I’m speaking of would walk into the theatre with her plans already fixed in her mind and start her assessment of the space with “okay, first off we’ll need to knock out the back wall of the building.” Most of the time she was quite serious about this opening volley and would have to be negotiated down to something that left the masonry reasonably intact.

Oddly enough, her sets wound up being the most creative and best suited to the scripts they surrounded than any of the others I’ve seen to date.

So what does this have to do with the real estate market?

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