For Sale: 3BR/1.5BA Single Family House in Riverside, IL, $300,000
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Tuesday, August 11, 2009
Thursday, August 6, 2009
LGPK-Sign Up For E-Pay
Enjoy the convenience of paying your water bill from home. Sign up to use E-Pay by going to the Village’s website: www.lagrangepark.org or go to: http://www.illinoisepay.com/epay/GetSite?cmd=get&siteId=426.
There is a convenience fee charged for using this system. The fee is not charged or collected by La Grange Park. Payment can be made by: Visa, MasterCard, American Express, Discover, or E-Check. There is a maximum charge of $400 per bill.
There is a convenience fee charged for using this system. The fee is not charged or collected by La Grange Park. Payment can be made by: Visa, MasterCard, American Express, Discover, or E-Check. There is a maximum charge of $400 per bill.
Wednesday, August 5, 2009
LGPK-Concerts under the Stars
The Community Park District, with the help of local business sponsors is proud to bring the Concert Under the Stars program every
Wednesday evening through August 19th. Bring your family and friends and have an evening under the stars right here in town.
DATE GROUP STYLE SPONSOR
August 5 Mr. Blotto Variety La Grange Park Business Association
August 12 Chicago Groove Variety Dr. Jim Discipio, DDS Collection
August 19 Duke Tomato Self Styled 1st National Bank of Brookfield Oldies & Jazz
Wednesday evening through August 19th. Bring your family and friends and have an evening under the stars right here in town.
DATE GROUP STYLE SPONSOR
August 5 Mr. Blotto Variety La Grange Park Business Association
August 12 Chicago Groove Variety Dr. Jim Discipio, DDS Collection
August 19 Duke Tomato Self Styled 1st National Bank of Brookfield Oldies & Jazz
Tuesday, August 4, 2009
LGPK-Mr. Blotto This Wednesday, August 5! Concert Under the Stars
The Community Park District of La Grange Park and the La Grange Park Business Association bring Mr. Blotto to Memorial Park's Amphitheatre on Wednesday, August 5th. Mr. Blotto, also simply known by his friends as "Mike" lives right here in La Grange Park. The band has a large following, which will cause another packed house. Come early to get the best parking. Also, the first 500 attendees at the concert will receive a La Grange Park Business Association reusable grocery bag filled with goodies from local businesses. Mr. Blotto takes the stage at 7:30 p.m. Get to the amphitheater by 6:45 p.m. to hear La Grange Park resident and acoustical guitarist instructor Eric Olson open the night's entertainment. Eric and his accompanist take the stage at 7:00 p.m. Mr. Blotto's music is self-styled. The audience will hear headline favorites with tunes ranging from outlaw country to hip hop rock. Mr. Blotto is also known for their outstanding original music.
In the event of rain, the show moves to Park Jr. High School located at Brainard and Ogden Ave. The Memorial Park Amphitheater is located at Woodlawn and La Grange Road. Those who walk to the park from west of La Grange Road should use the cross walk button at Woodlawn Avenue. Be safe. The Community Park District, with the help of local business sponsors is proud to bring the Concert Under the Stars program every Wednesday evening through August 19th. Bring your family and friends and have an evening under the stars right here in town.
In the event of rain, the show moves to Park Jr. High School located at Brainard and Ogden Ave. The Memorial Park Amphitheater is located at Woodlawn and La Grange Road. Those who walk to the park from west of La Grange Road should use the cross walk button at Woodlawn Avenue. Be safe. The Community Park District, with the help of local business sponsors is proud to bring the Concert Under the Stars program every Wednesday evening through August 19th. Bring your family and friends and have an evening under the stars right here in town.
Monday, August 3, 2009
LGPK-Town Hall Meeting
– August 4th
State Representative Michael Zalewski, D-21st District, will host a Town Hall Meeting to discuss legislative developments at 1:00 p.m. Tuesday, August 4, at Aging Care Connections, 111 W. Harris Ave., La Grange. Residents are urged to express their thoughts on the many issues facing Illinois.
The event is free to the public and refreshments will be served. More information is available at 708-354-2121.
State Representative Michael Zalewski, D-21st District, will host a Town Hall Meeting to discuss legislative developments at 1:00 p.m. Tuesday, August 4, at Aging Care Connections, 111 W. Harris Ave., La Grange. Residents are urged to express their thoughts on the many issues facing Illinois.
The event is free to the public and refreshments will be served. More information is available at 708-354-2121.
LGPK Village Sidewalk Program
The Village is preparing for sidewalk improvements throughout the Village. Residents may have noticed sidewalk areas painted with white markings. These marked areas will be
included in this year’s sidewalk improvement program. 400 sidewalk squares are marked
with white arrows designating them to be removed and replaced. 350 sidewalk squares are
marked with white dots to be raised to grade with the method of slab jacking. The purpose of the program is to repair sidewalks that are a potential hazard to those walking in the neighborhood. To have your sidewalk inspected or to report a potential hazard call Public Works at 352- 2922 ext 100. There is no cost for inspection requests and/or the replacement of problem areas. However, the potential hazard must be significant enough to require action and is based on specific established criteria.
included in this year’s sidewalk improvement program. 400 sidewalk squares are marked
with white arrows designating them to be removed and replaced. 350 sidewalk squares are
marked with white dots to be raised to grade with the method of slab jacking. The purpose of the program is to repair sidewalks that are a potential hazard to those walking in the neighborhood. To have your sidewalk inspected or to report a potential hazard call Public Works at 352- 2922 ext 100. There is no cost for inspection requests and/or the replacement of problem areas. However, the potential hazard must be significant enough to require action and is based on specific established criteria.
LGPK-National Night Out Crime Prevention Walk!
This Tuesday, August 4th!
The La Grange Park Police Department Crime Prevention Unit will sponsor a “Crime
Prevention Walk” on Tuesday, August 4, 2009 in celebration of National Night Out.
National Night Out is a yearly event in which thousands of communities across the
country participate in activities to promote crime prevention. The 1.5 mile walk will
begin and end at the Memorial Park band shell in La Grange Park. The Walk, which is
used to promote crime prevention awareness, will begin at 7:00 p.m. The evening’s
activities will also include a clown and entertainment for children, a laser spacewalk,
raffle drawing, ice cream, hamburgers and soda pop. Residents who are not able to participate at the park
can show their support of crime prevention by turning on their porch lights from 7:00 p.m. to 10:00 p.m.
The La Grange Park Police Department Crime Prevention Unit will sponsor a “Crime
Prevention Walk” on Tuesday, August 4, 2009 in celebration of National Night Out.
National Night Out is a yearly event in which thousands of communities across the
country participate in activities to promote crime prevention. The 1.5 mile walk will
begin and end at the Memorial Park band shell in La Grange Park. The Walk, which is
used to promote crime prevention awareness, will begin at 7:00 p.m. The evening’s
activities will also include a clown and entertainment for children, a laser spacewalk,
raffle drawing, ice cream, hamburgers and soda pop. Residents who are not able to participate at the park
can show their support of crime prevention by turning on their porch lights from 7:00 p.m. to 10:00 p.m.
Saturday, July 25, 2009
Park District of La Grange Community Family Fest
Friday, July 31
Gordon Park, La Grange, 60525
5 – 10 p.m.
Free!
Celebrate the Park District’s 80th Anniversary with games, moon jumps, pony rides, music & more. Call 708-352-1762 or visit www.pdlg.org for more information.
Gordon Park, La Grange, 60525
5 – 10 p.m.
Free!
Celebrate the Park District’s 80th Anniversary with games, moon jumps, pony rides, music & more. Call 708-352-1762 or visit www.pdlg.org for more information.
Thursday, July 9, 2009
New home appraisal rules are under fire
By Kenneth R. Harney
July 3, 2009
It's by far the hottest controversy in real estate this summer, and it could directly affect the value of your house –– probably negatively –– by tens of thousands of dollars.
The issue concerns lowballed valuations and the new rules guiding appraisers in both price-depressed and rebounding markets. Consider these snapshots of what's going on:
--In San Diego, Steve Doyle, division president for Brookfield Homes, is trying to close out the final 20 houses of a 120-unit single-family subdivision. Prices range from $340,000 to $350,000. But recently there's been a major hitch: Appraisers assigned by banks are coming in with valuations $60,000 or more below Doyle's selling prices. The appraisers, who Doyle says are unfamiliar with local market trends, inexperienced or both, are using distressed sales -- foreclosures and short sales of existing houses -- as their "comparables." Some of the distressed properties are in poor condition, and all of them offer fewer amenities, according to Doyle.
--In Wilmington, N.C., a loan applicant with a house in excellent condition, and an umblemished payment record, sought to refinance into a 4.75 percent mortgage. She had purchased the property four years ago for $160,000 and made about $20,000 worth of improvements in the interim. Her loan application, according to Paul Skeens, president of Colonial Mortgage Group of Waldorf, Md., was "a slam dunk. Nothing to it." The house was worth $180,000 to $200,000, according to a local realty estimate.
But when an appraiser with little local knowledge was sent in by a bank to value the house, he chose two short-sale properties that had both closed in the mid-$140,000 range, and one inheritance sale around $155,000. The last property was "in horrible condition," said Skeens. "I'd call it dog meat." The deal-paralyzing appraised value that came in for the cream-puff refi: $149,000.
--In the suburbs near Cleveland, Enzo Perfetto, manager of Enzoco Homes, builds custom houses on clients' lots. Recently, according to Perfetto, banks have begun assigning appraisers from far outside the area to value lots as part of mortgage packages on new homes. Some of the comparables they use are foreclosure situations, and that depresses land valuations. A young couple who paid $75,000 for their lot recently had it valued at just $30,000 by an out-of-area appraiser who only looked at online data, according to Perfetto -- discouraging the young couple from proceeding.
"I think the pendulum is swinging way too far in the wrong direction on appraisals," said Perfetto. Bank-assigned appraisers often "don't know the local market and they're going for low numbers to be 'safe.' "
Complaints about lowballed appraisals -- from builders, realty agents, consumers and mortgage companies -- have erupted since May 1, when government-sponsored Fannie Mae and Freddie Mac put their new appraisal rules into effect nationwide. Critics charge the new system is fostering the use of appraisers willing to work for low fees -- sometimes 50 percent below previous standards -- and who are willing to conduct home appraisals far outside their typical areas of activity.
The Fannie-Freddie system -- known as the Home Valuation Code of Conduct -- is complicated by the fact that it is a byproduct of a legal settlement in 2008 between New York Attorney General Andrew Cuomo and the two government-sponsored mortgage investors.
Under the code, appraisers are now routinely assigned by appraisal management companies rather than being selected by local mortgage companies or loan officers. The management companies pocket as much as 40 percent to 50 percent of the appraisal fee paid by the consumer.
Frustration with the new system boiled over and made its way to Capitol Hill late last month. The National Association of Home Builders called for an immediate change in the rules governing the use of foreclosures, short sales and other distress transactions as comparables for appraisals on non-distressed, typical homes, whether new or resale.
Two congressmen -- Travis Childers (D-Miss.) and Gary Miller (R-Calif.) –– have introduced legislation calling for an 18-month moratorium on the appraisal code. In identical letters to James Lockhart, the top regulator of Fannie Mae and Freddie Mac, and Cuomo, the National Association of Realtors also requested a moratorium and complained that the code is raising consumers' costs, distorting property values and killing sales.
Asked for comment, Lockhart said through a spokesperson that his agency is "monitoring" the situation, and considers "the views of market participants important."
Bottom line: Be aware of the issue. It affects your equity, even if you're not currently buying or selling. And watch whether Congress fixes the problem.
Washington Post
July 3, 2009
It's by far the hottest controversy in real estate this summer, and it could directly affect the value of your house –– probably negatively –– by tens of thousands of dollars.
The issue concerns lowballed valuations and the new rules guiding appraisers in both price-depressed and rebounding markets. Consider these snapshots of what's going on:
--In San Diego, Steve Doyle, division president for Brookfield Homes, is trying to close out the final 20 houses of a 120-unit single-family subdivision. Prices range from $340,000 to $350,000. But recently there's been a major hitch: Appraisers assigned by banks are coming in with valuations $60,000 or more below Doyle's selling prices. The appraisers, who Doyle says are unfamiliar with local market trends, inexperienced or both, are using distressed sales -- foreclosures and short sales of existing houses -- as their "comparables." Some of the distressed properties are in poor condition, and all of them offer fewer amenities, according to Doyle.
--In Wilmington, N.C., a loan applicant with a house in excellent condition, and an umblemished payment record, sought to refinance into a 4.75 percent mortgage. She had purchased the property four years ago for $160,000 and made about $20,000 worth of improvements in the interim. Her loan application, according to Paul Skeens, president of Colonial Mortgage Group of Waldorf, Md., was "a slam dunk. Nothing to it." The house was worth $180,000 to $200,000, according to a local realty estimate.
But when an appraiser with little local knowledge was sent in by a bank to value the house, he chose two short-sale properties that had both closed in the mid-$140,000 range, and one inheritance sale around $155,000. The last property was "in horrible condition," said Skeens. "I'd call it dog meat." The deal-paralyzing appraised value that came in for the cream-puff refi: $149,000.
--In the suburbs near Cleveland, Enzo Perfetto, manager of Enzoco Homes, builds custom houses on clients' lots. Recently, according to Perfetto, banks have begun assigning appraisers from far outside the area to value lots as part of mortgage packages on new homes. Some of the comparables they use are foreclosure situations, and that depresses land valuations. A young couple who paid $75,000 for their lot recently had it valued at just $30,000 by an out-of-area appraiser who only looked at online data, according to Perfetto -- discouraging the young couple from proceeding.
"I think the pendulum is swinging way too far in the wrong direction on appraisals," said Perfetto. Bank-assigned appraisers often "don't know the local market and they're going for low numbers to be 'safe.' "
Complaints about lowballed appraisals -- from builders, realty agents, consumers and mortgage companies -- have erupted since May 1, when government-sponsored Fannie Mae and Freddie Mac put their new appraisal rules into effect nationwide. Critics charge the new system is fostering the use of appraisers willing to work for low fees -- sometimes 50 percent below previous standards -- and who are willing to conduct home appraisals far outside their typical areas of activity.
The Fannie-Freddie system -- known as the Home Valuation Code of Conduct -- is complicated by the fact that it is a byproduct of a legal settlement in 2008 between New York Attorney General Andrew Cuomo and the two government-sponsored mortgage investors.
Under the code, appraisers are now routinely assigned by appraisal management companies rather than being selected by local mortgage companies or loan officers. The management companies pocket as much as 40 percent to 50 percent of the appraisal fee paid by the consumer.
Frustration with the new system boiled over and made its way to Capitol Hill late last month. The National Association of Home Builders called for an immediate change in the rules governing the use of foreclosures, short sales and other distress transactions as comparables for appraisals on non-distressed, typical homes, whether new or resale.
Two congressmen -- Travis Childers (D-Miss.) and Gary Miller (R-Calif.) –– have introduced legislation calling for an 18-month moratorium on the appraisal code. In identical letters to James Lockhart, the top regulator of Fannie Mae and Freddie Mac, and Cuomo, the National Association of Realtors also requested a moratorium and complained that the code is raising consumers' costs, distorting property values and killing sales.
Asked for comment, Lockhart said through a spokesperson that his agency is "monitoring" the situation, and considers "the views of market participants important."
Bottom line: Be aware of the issue. It affects your equity, even if you're not currently buying or selling. And watch whether Congress fixes the problem.
Washington Post
Countryside's Concerts in the Park Series Continues!!
Date: Thursday, July 9th
Time: 7 p.m.
Location: Countryside Park, located at 61st Street, ½ block east of Brainard Avenue
Rock out to the songs of Heart in Countryside with Heartless!
Each show Heartless performs features favorites from other classic rock icons including Led Zeppelin, The Who, Bon Jovi, Journey, Janis Joplin and more. Join us as we continue Countryside Live! and enjoy a free concert in the park.
Visit www.gocountryside.net for information on all of our events, or call 708-485-2595. See you there!
Food Vendor: Ledo's: Cheese Pizza ($2.00), Sausage Pizza ($3.00), Cookies ($1.50), Soda/Water ($1.00) Countryside would like to thank Vulcan Materials Company, our presenting sponsor of these special events.
We would also like to thank our additional sponsors, AT&T, Continental Motors Group, Hunt Printing and Graphics, Lyons Township, State Bank of Countryside, and The Doings.
Time: 7 p.m.
Location: Countryside Park, located at 61st Street, ½ block east of Brainard Avenue
Rock out to the songs of Heart in Countryside with Heartless!
Each show Heartless performs features favorites from other classic rock icons including Led Zeppelin, The Who, Bon Jovi, Journey, Janis Joplin and more. Join us as we continue Countryside Live! and enjoy a free concert in the park.
Visit www.gocountryside.net for information on all of our events, or call 708-485-2595. See you there!
Food Vendor: Ledo's: Cheese Pizza ($2.00), Sausage Pizza ($3.00), Cookies ($1.50), Soda/Water ($1.00) Countryside would like to thank Vulcan Materials Company, our presenting sponsor of these special events.
We would also like to thank our additional sponsors, AT&T, Continental Motors Group, Hunt Printing and Graphics, Lyons Township, State Bank of Countryside, and The Doings.
Sunday, July 5, 2009
“Jazz Under the Stars”
Saturday, July 11
La Grange Memorial Hospital Foundation
The Pavilions at Brookfield Zoo
6:30 p.m. – 11:30 p.m.
$150 per person – Sponsorship opportunities available
Relax and bid on fun auction items, enjoy delicious food and dance to live music, all for a good cause. Proceeds benefit the purchase of a wireless patient communication system for the hospital. For information contact Diane Lillwitz at 708-245-2904 or diane.lillwitz@ahss.org.
La Grange Memorial Hospital Foundation
The Pavilions at Brookfield Zoo
6:30 p.m. – 11:30 p.m.
$150 per person – Sponsorship opportunities available
Relax and bid on fun auction items, enjoy delicious food and dance to live music, all for a good cause. Proceeds benefit the purchase of a wireless patient communication system for the hospital. For information contact Diane Lillwitz at 708-245-2904 or diane.lillwitz@ahss.org.
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