Wednesday, February 24, 2010

Having a Buyer's Agent is Worth the Price

Some of our earlier posts have covered topics regarding buyers working with real estate agents and how to select them. But one of the major advantages is often overlooked.

We've been asked on several occasions "What would it cost for you to help me find a great deal?". The answer is (almost always): Nothing...it's free.

The way agency typically works in Illinois is that the seller pays a commission to the listing agent that they hire. Then that listing agent offers part of his commission to any buyer's agent who can bring a buyer that closes on the property. The out of pocket cost to the buyer is $0.

Often, because people don't know that they can be professionally represented at no cost to them, they will just let the seller's agent represent them to try to save money. This is called "dual agency," and it is something that should be entered into with caution. Basically, the natural conflict here is that seller's agent is being paid by the seller, but negotiating for both the seller and the buyer. Wouldn't you be better off having someone with only your best interest in mind? CNNMoney thinks so. And they mention RealEstate.com, so they must be smart.

Do you have any questions about agency or real estate in general? Let us know.



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Tuesday, February 23, 2010

R.I.P. McMansion: Enter a Believable Concept Home

Sure, something called a McMansion probably wasn't going to last forever, but a lot of them were built. McMansions resulted from the excesses of a real estate boom obsessed with resale and "moving up" the housing ladder. No one asked about energy bills or seemed too concerned about how much they really needed that third car in the garage. They assumed they could sell to someone else in a few years for more money.

Those times are certainly over, and perhaps with them, McMansions.

The Home for a New Economy was the 2010 Show House at the International Home Builders Show in Las Vegas. Designed by fellow Notre Dame Architecture graduate Marianne Cusato, among a team of important consultants, the 4 BR / 3.1 BA home is billed as a direct response to current economic, environmental, and demographic concerns.

The house is affordable ($85/sq. ft. construction), livable (no wasted space, no extraneous features), sustainable (green materials, efficient mechanical systems), and adaptable (rooms can be re-purposed as the household changes).

Check out this video on WSJ.com


After taking a virtual tour of the home here (sign-in required), it is clear to the author that this home is a great start as a prototype to show people how they can live just as well in 1,700 square feet as they can in 3,500. While this home is attractive and highly functional, it is important to note that this is not the only physical form a small, usable house can take; well-designed condos, apartments, and other multi-family residential solutions can succeed in this regard, as well.

All of the problems that the prototype addresses are also greatly affected by its ultimate location. As Inside the Brackets previously wrote, we believe strongly in the affordability, livability, sustainability, and adaptability of existing cities as an alternative to new suburban growth.

Would you live in this house? Do you think you could live there for the rest of your life? Let us know what you think.

More about the Home for the New Economy:
Main Site: Home Page of the Home for the New Economy
Builder Magazine Article: Show Home 2010 Tour
CyberHomes Blog Article: Concept Home for the Times


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A/E/C New York City Networking Opportunity



Attention all NYC-metro based architecture, engineering, and construction professionals:

I have been a part of the AEC-NYC Professionals Circle networking group since its inception in late 2008 and currently serve on its board. We just wrapped up a membership feedback period and we are looking forward to implementing the ideas generated to make the 2010 events even better.

There are a lot of these types of groups, so here is a little bit about what makes AEC-NYC different:

  • No structured networking, just casual conversation and mingling
  • No lectures or panel discussions to sit through
  • Great venues, food, and beverage supplied by the AEC-NYC sponsors
  • Opportunities to meet people in the building industry, but not in your specific field

I highly recommend that you consider the upcoming event on March 11, or any future event to check out the group for yourself.



AEC-NYC Professionals Circle Networking Event
Sponsored by HAWORTH: Thursday, March 11th, 6 - 9 PM, $5
Meet · Engage · Succeed

HAWORTH
125 Park Avenue
2nd Floor (entrance on 42nd st)
New York, NY
10017


Registration is REQUIRED. Security at the
front desk is strictly enforced.
Please register here.

About AEC-NYC Professionals Circle
The AEC-NYC Professionals Circle is a regional networking community that brings together the finest architecture, engineering and construction professionals in the New York City area. Taking much of the “work” out of networking, our monthly social events provide ample opportunity for members to make meaningful, industry-specific connections.

Social networking is all the rage these days, but there is nothing like meeting face to
face, exchanging ideas in person and making real, live connections with people who share your professional interests and goals. We welcome you to join our growing network and discover for yourself how the AEC-NYC Professionals Circle can help you further your business goals through the power of relationships. You never know where you’ll meet your next valuable contact.

Registration is REQUIRED. Security at the front desk is strictly enforced.

Please register here.

AEC Professionals Circle Website
You will find member profiles, future event announcements and photos.
Join the AEC Professional Circle group on LinkedIn.


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