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Bryan Bomba

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How To Keep From Being Screwed By A Builder

by Bryan Bomba

When building a new home, there are a lot of ways that a consumer can get screwed by an unscrupulous builder. 

The easiest way to protect yourself is to do business with known entities. Whenever I broker a transaction which involves a builder, I emphatically advise my client about the pros and cons of doing business with that specific builder. Regardless of how strong of a construction contract that is drawn, there will be gray areas where the builder can harm you-or not.

The one minute short course on builder selection involves the following rules:

1. References. Get a completed and unedited list of every person the builder has worked for over the past three years. If you want to be extra thorough, personally go to the building department in the towns where the builder works and ask for that same list (you may need to file a freedom of information act form to get it). If names are omitted from the list which was given to you by the builder, ask why. Contact these references and ask about their experience with the developer. 

2. Credit score. This is an excellent measure of the builder's worthiness. If he has a history of not paying his subcontractors, he will be reluctant to to show you his credit score. Do not settle for excuses. 

3. Business entity. Reputable builders build under the same name for years. Sleazy builders change their names often. The bad guys go from one LLC to another. 

Please be careful. Improper builder selection is a gut-wrenching nightmare. 

Coolest Thing I'm Putting In My House

by Bryan Bomba

As a self-proclaimed house geek, it's important for me to be aware of the newest and best in housing trends. Also, it gives me the opportunity to make tax-deductible purchases to satisfy my inner gadget fetish. Yes, I already have the Nest thermostats. I'm past that. 

The coolest new thing I'm putting in my house is the Ring "doorbell" system. Formally known as Doorbot, this system replaces your old fashioned door bell. When someone rings your doorbell, it takes a photo and sends it to your smartphone. Not only do you see who's there, but you can talk to that person-or not. For example, if a delivery guy shows up and wants to personally deliver something to you, you can tell him to just leave it or the porch. In a better example, when an annoying salesperson wants to sell you a magazine subscription, don't answer. 

I've not actually installed my Ring system yet as they're on back order. Stay tuned. 

Residential Real Estate Market Peaked In September

by Bryan Bomba

While it's no surprise to anyone that residential real estate performance in 2013 was better than 2014, this year had the highest level of performance in September. Read the USA Today article.

Buy A 75' Wide Lot For The Price Of a 50' Lot In Hinsdale IL 60521

by Bryan Bomba

 

Buy a 75 x 125 lot in town Hinsdale IL 60521 for $499,900! With new construction as hot as it is in Hinsdale these days, the skinny 50 x 123 lots are selling at or about $425,000. And there is a monumental difference in what you can build on a 75' versus that of a 50' lot. In fact, mot buyers of homes on 50' lots in Hinsdale are those upgrading form 50 footers. 

This property is located in the Monroe elementary school district across the street from Stough Park. That's right, a park is directly across the street. Better yet, the walk to the west Hinsdale train station is measured in seconds, not blocks or minutes. Be the envy of everyone at the office as you brag about your fall-out-of-bed-and-I'm-at-the-train commute.

If you have interest, contact me at Bryan@Bryan Bomba.com  Even if you've never built before, I am happy to educate you on the process. I know all the architects, builders and every other player in new construction in this area. So, let's get going. Contact me for your private showing. 

 

The Best Home Automation System

by Bryan Bomba

Right now, my favorite home automation system is Control4. In my opinion, it offers the best combination of cutting edge technology with reasonableness in pricing. It's a stable system with functionality ranging from controlling your thermostats from an airplane to supporting over 40 audio streaming services. Check out the link to their website, above.

If you get serious about automating your home, contact Tim O of ABT Custom Audio. 

 

 

As of October 15, 2014, the Downers Grove Township Assessor's Office has posted their 2014 assessed real estate valuations. Property owners have been mailed the new valuations, which show the assessor's opinion of the value of the property as of January 1, 2014. 

If you believe a mistake has been made and/or that your property valuation is overstated, then now is the time to appeal. You have 30 days. And the clock started ticking on October 15, 2014.

The appeal process involves demonstrating that, as of 1/1/14, your property is worth less than the assessor says it is worth. You need to show comparables that have closed before 1/1/14. Anything after that date is ineligible.

If you have questions about this process and you are past client of mine, just call. If you are not a client and wish to be, call. 

New Car Dealership In Westmont IL

by Bryan Bomba

Beginning tomorrow, residents of Chicago's near western suburbs will have a new choice when looking to purchase a used luxury car or motorcycle. Ultimo Motorsports, owned by Ghaben Auto Group, will offer high end automobiles and motorcycles in an indoor showroom. The dealership owns and operates three other dealerships in Warrenville, Oak Lawn and Bridgeview. 


This new business is located at 150 W. Ogden Avenue in Westmont, IL. It is the former location of a Chevy dealer. 

 

Interest Rates Are Rising-You May Want To Buy Now

by Bryan Bomba

The Federal Reserve Bank is very likely to start increasing interest rates in early 2015. This longer term prediction is that the interest rates will continue to increase for the following three years.

The monthly periodical, Reserve Bank Survey, had accurately estimated that there would not be an increase in the cash rate at this week's meeting. However, the same group had indicated a gradual interest in interest rates beginning in 2015. 

Because housing is perceived as stable, there appeared not to be a need to cut rates further. The balance of the economy was perceived as average. As such, an increase in the interest rates appears to be a prudent move. 

If this occurs, a prospective buyer's buying power is reduced significantly. Also, the fourth quarter of the year tends to be the time when homes are taking a bit longer to sell. Together, these two factors are compelling reasons why a savvy buyer may not want to wait until next year to make a home purchase. 

Imagine a true "walk to" lifestyle where you commute to downtown LaGrange, the Metra commuter train depot and the local elementary school is measured in steps, not minutes or miles. Better yet, imagine a community where there are 57 restaurants contained within city limits. See for yourself, the restaurants in LaGrange are the envy of the western suburbs. 

413 S. Catherine in LaGrange is a four bedroom, 3 1/2 bathroom home idyllically situated in the historic district, the most coveted of all neighborhoods. All bedrooms are on the second floor. It has been updated and more than well-maintained. Attached two car garage.

Contact me for your own private showing. Priced at $675,000. 

 

Hard-To-Find Estate Home In Hinsdale IL On Acreage

by Bryan Bomba

Hinsdale Illinois is noted for many things. Excellent public schools. Extreme convenience into the city of Chicago by car or train. Low crime. Beautiful homes. Hinsdale Illinois is also know for having small lots. The lots are so small, we do not refer to them in terms of acreage, we refer to them in terms of front footage. And this is true in all price ranges (the average asking price is Hinsdale Il is $1,500,000 for a detached house).

I am more-than-excited to share with you a rare opportunity. In fact, I'd go so far to say that it is a once-in-a-lifetime opportunity. Here is a chance for your family to live in-town Hinsdale (if you don't know what this means, ask me) on your own 1.6 acre forest in a 5,600 square foot custom home built exclusively of the finest materials (stone, copper, slate). Imagine being able to walk to schools, train and downtown Hinsdale while still having the unimaginable privacy that other Hinsdaleans only dream of. Take a look for yourself:

 

And it is even more impressive in person. Contact me for your own private viewing to see what I mean.

 

Displaying blog entries 1-10 of 815

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