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July 19, 2023
Say I saw it in The Shopper
Financial Advice Column An independent newspaper serving this area since 1957. ©The Shopper 924 E. 162nd Street • South Holland, IL 60473 HOW TO REACH US Phone: 708-271-8971 • www.myshopper.biz • Email: general@myshopper.biz CIRCULATION Published every week covering the towns of South Holland/Thornton, Lansing, Dolton/Calumet City, Munster, Highland, and Schererville. Our circulation is independently audited by CAC. ERRORS We proofread all Classified ads. However, should a mistake occur, it can easily be corrected, provided it is brought to our attention. Call 708-271-8971 to rectify an error. We cannot be responsible for more than one incorrect insertion. Adjustment for error is limited to republication. In any event, adjustment for errors or omissions is limited to the cost of the space occupied. CLASSIFIED ADS The Shopper offers FREE non-business Classified Ads (20 word maximum). Business Classifieds are $25 for 20 words, $1.00 per word over. Place ads online at www.myshopper.biz NEWS Email news items to general@myshopper.biz Some content courtesy of Family Features and Capital News Illinois. DEADLINE Friday 4:00 pm for the following week’s issue. PUBLISHER’S NOTICE The Shopper reserves the right to edit any content supplied for publication as it sees fit, including but not limited to clarity, grammatical and factual accuracy, and to accommodate available space. All real estate advertising in this newspaper is subject to Fair Housing Laws which makes it illegal to advertise “any preference, limitation or discrimination based on race, color, religion, sex, national origin, familial status, sexual orientation, marital status, military status, age, ancestry, parental status, source of income, military discharge status or housing status,” no matter how large or small the property. This newspaper will not knowingly accept any advertising for real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertised in this newspaper are available on an equal opportunity basis. To complain of discrimination call HUD toll-free at 1-800-669-9777. The toll-free telephone number for the hearing impaired is 1-800-927-9275.
Retirees: Talk finances with your grown children SUBMITTED BY PATRICK ZAMKIN When you’re retired, you’ll likely have some financial concerns — just like all retirees. However, if you’ve invested regularly and followed a long-term financial strategy, you should be able to address most issues that come your way. But there’s one important action that’s sometimes overlooked by retirees: sharing their financial situation with their grown children. And this knowledge can benefit everyone in your family. You might be surprised by the concern your children have for your financial wellbeing. Consider these findings from a 2023 study by Age Wave and Edward Jones: • 66% of millennials (generally defined as ranging from 27 to 42) worry that their parents or in-laws may not have enough money to live comfortably in retirement. • 83% of millennials would rather know their parents are financially secure in their retirement, even if it means their parents pass on less money to them. If you have children in this age range or older, or who soon will be, how can you address their concerns and potentially improve your financial outlook? Communication is the key. By openly communicating with your family about your financial status, you can reduce anxieties and misperceptions. If you’re in good financial shape, your adult children may be reassured that you won’t be needing their assistance. And if you are feeling some financial pressures, you can inform your children of the steps you are taking to improve your situation. One such step may be to reduce your cost of living — the less you spend day to day, the better your ability to preserve your investment and retirement accounts. You may be able to reduce costs in many small ways, such as ending streaming services you no longer use, but you could make an even bigger impact by downsizing your living arrangements. In fact, 72% of today’s retirees
Real Estate Specialists
Personal Trainer to the Real Estate Consumer
Are Realtors Essential Today? MIKE BUDER In a normal market, it’s good to have an experience guide coaching you through the process of buying or selling a home. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market changes we have experienced the past few years are far from normal. As a result, an expert isn’t just good to have by your side…an expert is essential. Today’s markets are full of extremes. Mortgage rates going from record lows to doubling within ten months’ time. In 2020 through 2022 the absence of sellers created record low housing inventory. This imbalance in supply and demand lead to a skyrocketing rate of bidding wars and more houses selling over their asking price which drove home price appreciation and gains of home equity quickly. Today’s mortgage rates have affected the affordability and therefor have pulled back on some of the escalated gains. These market conditions aren’t just extreme, they can be overwhelming. Having a trusted expert to coach you through the process of buying and selling a home gives you clarity, confidence, and success through each step. Here are some reasons why Realtors are invaluable in today’s market. Realtors help with the disclosures and contracts necessary in today’s heavily regulated environment. Realtors are well versed in real estate and experienced with the entire sales process, including the ways it has changed over the past year. Realtors act as a buffer in negotiations with all parties throughout the entire transaction while advocating for your best interest. Realtors can simply and effectively explain today’s market conditions and decipher what they mean for your individual goals. Realtors
also help you understand today’s real estate values when setting the prices of your home or making an offer to purchase one. A Realtor can be your essential guide through this unprecedented market, but truth be told, not all agents are created equal, a true expert can carefully walk you through the whole real estate process, look out for your unique needs and advise you on the best ways to achieve success. Finding the right Realtor should be your top priority when you’re ready to buy or sell a home. It starts with trust. You’ll have to be able to trust the advice your agent is going to give you, so make sure you’re connected to a true professional, an agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen at every turn, especially in this unique market. A true professional can, however, give you the best possible advice based on the information and situation at hand. They can help you make the necessary adjustments and best decisions along the way. The right professional will help you plan the steps to take for success, advocate for you throughout the process, and coach you on the essential knowledge you need to make confident decisions toward your goals. It’s crucial now more than ever to work with a Realtor who understands how the market is changing and what that means for home buyers and sellers. If you are looking to buy or sell real estate call Mike Buder at RE/MAX 10 (708) 418-4444, E-mail: mikebuder@remax.net, Website: www.BuderHomes.com. Facebook Friend request Mike Buder: your comments are always welcome. Mike Buder A local Christian Businessman
have downsized or are willing to downsize to reduce their housing costs, according to the Age Wave/Edward Jones survey. Downsizing isn’t for everyone, but if it’s a possibility for you, it may be worth considering because the savings could be significant. You may also be able to reduce or consolidate your debts. Start by understanding how much and what kinds of debt you have. Then, consider ways to lower your payments, such as refinancing. For example, if you’re carrying a balance on multiple credit cards, you might be able to transfer the amounts you owe onto a single card with a more favorable interest rate. Here’s another move to consider: Adjust your investment mix to possibly provide you with more income in retirement. During your working years, you may have invested primarily for growth — after all, you could be retired for two or more decades, so you’ll need to draw on as many financial assets as possible. But once you’re retired, your investment focus may need to shift somewhat toward income-producing opportunities. Keep in mind, though, that you’ll still need some growth potential to help keep ahead of inflation. One final suggestion: Let your children know if you already have a strategy in place to meet the potentially high costs of longterm care, such as a nursing home stay. This burden is certainly something you won’t want your children to take on. By informing your children about your financial picture, and how you’re trying to improve it, you can ease everyone’s minds — so keep the lines of communication open. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Patrick Zamkin, located at 18735 Dixie Hwy, Homewood, IL 60430. Contact us at (708) 798-9066. Edward Jones. Member SIPC.
Real Estate Questions & Answers CATHY & JIM HIGGINS Question: I purchased a 250-year-old home and had an all-around home inspection including termites, power post beetles etc. The house passed. The home was inspected in May and by mid-September I saw a white ant walking across my dining room floor next to my fireplace. I called a pest control company and they collected samples. The samples confirmed that we have termites. Who is ultimately responsible for taking care of this? Answer: Do you have actual termite damage or just a few bugs hopping around? A change in the weather could drive insects indoors, thus there may not have been termites in the house during the warm months when the house was first inspected. You say you had a “home inspection.” Was the inspector a licensed pest controller or a general structural inspector? If there is termite damage that was missed, then speak with the inspector about such warranties as they may provide. As to the current infestation, it should be treated by a licensed pest controller. Question: We expected to close on a house today, but then found out that the buyers’ broker neglected to mention the minor contingency of them needing to sell their home first. At contract, they specifically
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mentioned the buyers had no contingencies. Now they are having trouble closing on their home ... which they need to close on our deal. What happens if our deal falls apart? Answer: Read the sale agreement. Does it permit closing to be delayed until the buyer’s current residence is sold and title is transferred? Real estate agreements are in writing precisely because verbal understandings are worthless. The buyers have no right to unilaterally change the terms of a sale agreement, thus the purchasers may lose their deposit and face other damages if they do not meet all contract requirements. That said, your goal is to sell the home. A brief delay rather than the loss of the sale might be in your interest. Of course, it might be even more in your interest to allow a delay if the buyers paid more of the closing costs or made other concessions. Check with your attorney. E-mail us your Real Estate questions at Cathyah@aol.com. Thinking of selling your home? Call Cathy & Jim Higgins, Licensed Broker/Realtors in Indiana & Illinois. IN: 219-865-4361 IL: 708-828-3304. McColly Real Estate. Website: www.Cathyhiggins. com. Personal Real Estate Journal: www. Higginshousechat.blogspot.com
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