Beach Boy Brian Wilson's former home for sale

From Curbed.com: House of the Week

By Curbed.com

Location: St. Charles, Ill.
Price: $1,490,000
The Skinny: Shouldn't rock stars have outrageous, tricked-out, MTV "Cribs"-style pads? Well, Beach Boys frontman Brian Wilson apparently doesn't think so, judging by his staid former home in St. Charles, Ill. (above), and for all that talk about wanting to go surfing, the genius singer-songwriter lived about as far from the ocean swells as possible. Anyway, back to the house at hand, which -- with its beige facade, beige interiors, and beige patio -- is hardly the image of rock star extravagance. Down in the basement things get more convincing, with a large-scale professional recording studio ready for the next owner's attempt at crooning. This five-bedroom, 6,500-square-foot mansion, located an hour outside of Chicago, is asking $1.49 million.
Source: curbed.com

On March 31, 2011, Wall Street Journal reported that a Russian billion dollar investor had bought a French chateau inspired mansion in Silicon Valley, CA for a hundred million.  It is 25,500 sq ft.  It is the highest known price ever paid for a single family home in the US.  The new owner is 49 yrs old.  The house has indoor and outdoor pools, a ballroom, a wine cellar, a tennis court.  Wow!

·         Here are excerpts from an article in the Wall Street Journal on February 26, 2011 entitled, "Five Signs That Say 'Buy':

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  1. Jobs.  Jobs data are about one month old and can show the direction of the local economy.
  2. Recent Sales Activity.  Look at a composite of housing inventory, sales volume and prices.
  3. Construction.  Check the number of building permits issued recently.
  4. Mortgage Availability.  Gauge local lending patterns
  5.  Anecdotal Evidence.  Check out open houses and talk to local agents

If you are having difficulty making your monthly payments on your mortgage, contact your lender.  See if there are options for you...perhaps a new interest rate, or a modification of some sort on your loan.  If that doesn't seem like it will work, speak to a real estate professional who has successfully completed several short sales.  They can be a difficult transaction...and time consuming.  An important piece of adivce is to be clear who has their name on the deed (you will need everyone listed as an owner of the deed to approve the sale) and who has their name on the loan (that is who can negotiate a possible payoff of the loan for less than is owed).  Also, be sure there are no additional liens attached to the property.  There may be a home equity line or a second mortgage.  There may be bills from credit card companies or contractors who went unpaid who have attached liens to the property.  These will need to be dealt with.  Either they will have to be paid off before the sale of the house, or they must be negotiated for a payoff at the closing. 

"Colleen and a Cape House Realty has been extremely helpful in our search for our first home. We looked all over The Cape and off and she was happy to show us anything and everything. She goes above and beyond as a realtor. It seems like some realtors are in it for the money and even though are starting price range for a house was $100,000 and under she treated us as if it was $1,000,000. It's nice to know that there's someone out there that genuinly loves there job and loves helping people buy/sell a home."  Kristen and Kevin, Wareham, 2011

If you owe a debt to someone else, and they cancel or forgive that debt, the canceled amount may be taxable .  This is common in a short sale or foreclosure.  The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence.  Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.  This provision applies to debt forgiven from 2007 thru 2012.  Selling your home through a short sale or losing your home to foreclosure is complicated.  You can read more about this act on the government website, www.irs.gov  .  You should also consult a tax professional. 

Congratulations to both the Buyer and Seller of this home in Plymouth which was a great deal!  SOLD FEBRUARY 2010!!

Remodeling Magazine puts out a report each year that shows you the cost of various remodeling projects and then the value you recoup when you sell.  It breaks down by region.  It also describes the project so you know what they are talking about when they say, for example, a bathroom minor remodel.  Then you can compare to a project you might have planned.  www.costvsvalue.com

A Buyer Agent represents the Buyer.  They work for the Buyers best interests.  They have to adhere to a code of ethics that includes disclosing everything they know about the property to the Buyer.  They have to be accountable for paperwork and where the funds are.  The Buyer Agent works under contract - a signed agreement - and is paid out of the transaction.  When the seller lists the property with a realtor, they have agreed to pay a certain percentage to the agent who brings a Buyer (the Buyer Agent) and a certain percentage to the agent representing them (the Listing Agent).  Choose a Buyer Agent you like to work with, that you get along with and who you trust.  You will spend a lot of time with this person so you should be enjoying your time together.   Someone with experience and continuing education certifications will know how to advice you and what to look out for.  Check their website for testimonials. ask your friends for recommendations, see who is doing a lot of business in the areas you like.  Buying a home can be an amazing, great experience with a trusted Realtor by your side.

Declutter.  Clean.  Look inviting.  To elaborate a little:  declutter your house.  Have you ever gone into a staged model home or model condo?  You know how new and clean and neat it looked?  You probably even said "I'd buy it as is with all the furniture and everything!"  That is what you want to strive for.  Empty closets, garage, basements.  Remove pictures from walls.  Clean everything.  When the house is clean, it makes Buyers think "Here is a property that has been well cared for."  The idea is for Buyers to see themselves living there, not for them to see how you live there.  Finally, the front of the house that the public sees first should be inviting.  A new welcome mat, some flowers on a table by the front door, new shrubs.  Fresh mowed lawn.  Make them want to come inside.  Most buyers drive by a property before they make an appt to see it inside.  Make them really want to come in!