THIS WEEKEND IN CHICAGO- President’s Day Fun!

There’s nothing better than a three day weekend! With an extra day, you’ve got extra time to explore all the fantastic things Chicago has to offer!

Are you a car buff? Check out the Chicago Auto Show! This the nation’s largest and longest running auto exposition. It showcases over 1,000 domestic and imported vehicles, auto related exhibits, competition vehicles, as well as project, antique, and collector cars. Kiddos will also enjoy interactive displays throughout the show! Hours on Friday February 16, Saturday February 17, and Sunday February 18 are from 10 am to 10 pm. On Monday, February 19 hours are 10 am to 8 pm. The event will be held at McCormick Place, 2301 S. Lake Shore Drive. Adult tickets are $13, seniors and children tickets are $7. Buy your tickets here, now!

Wanna get out of the city for the day? Pack up the kiddos and head out to Rockford for the Presidents & Patriots Festival! This exciting event will be at the Midway Village Museum on Monday, February 19 from 10 am to 3 pm. This fun-filled day will feature patriotic games and crafts showcasing presidents and patriots from our country’s history. Make a Revolutionary soldier tricorn hat, take a picture at the presidential facial hair photo booth, participate in a Sacajawea treasure hunt, practice your “John Hancock” with feather quills, race the Paul Revere obstacle course, fire a “cannon” on an enemy fort, make Frederick Douglas freedom flags, and much more! The event itself is free, but you do have to pay museum admission. Find prices and more here!

Take your kiddos on a cooking adventure! Taste Buds Kitchen is hosting “Presidents Day Camp: Future Celebrity Chef” this Monday, February 19 from 9 am to 5 pm. Inspired by your favorite cooking TV shows, your kids will head to the kitchen for a unique cooking experience that includes new techniques and tastes. They’ll whip up both savory and sweet recipes, including Veggie Sushi Rolls, Matcha Turtle Bread, and Pocky Sticks. The camp is $60 and the day will be split by ages. From 9 am to noon, chefs ages 4-8 will be in the kitchen and from 1-4 pm, ages 9-13. Find more information here!

Just because we’re not in New Orleans doesn’t mean we can’t celebrate Mardi Gras! Spend your Mardi Gras weekend at Bourbon on Division! You’ll get the feel of Bourbon Street right here in Chicago with all the beads, masks, gumbo, and whiskey you need to celebrate Mardi Gras right! From Friday February 16 to Sunday February 18, there will be brass band pop-ups, $10 gumbo, and more!

Finally, if you’re looking for a little culture, get yourself to one of Chicago’s fantastic museums for Free Days! The Adler Planetarium, Shedd Aquarium and The Field Museum are all free on President’s Day! Check out the full calendar of free days here!

Are you ready for some President’s Day fun?!

The 4 “C’s” of Qualifying for a Home Loan

Qualifying for a mortgage is typically an in-depth process that involves several factors to be considered. If you’re in the market to buy a home and are looking to take out a mortgage to finance this big purchase, you might want to know what’s involved in the home loan approval process.

When evaluating loan applications to identify whether an applicant would be qualified for a mortgage, lenders typically look at four key factors – often referred to as the “4 C’s” – which include credit, capital, collateral, and capacity.

Credit

Perhaps the first thing that lenders do when assessing your ability to pay a mortgage is pull your credit report. This will tell them what your actual credit score is, which is the most important of all the 4 “C’s”. For this reason, it’s imperative that you take steps to ensure that your credit score is in good standing. If it’s not as high as it could be, now’s the time to take steps to improve it.

Several factors influence your credit score, including the following:

  • Payment history
  • Previous loans
  • Open and closed accounts
  • Recent credit applications
  • Collection accounts
  • Judgments

Of these, your payment history carries the most weight as far as how your credit score is calculated. In fact, 35% of your credit score is based on payment history over the past 24 months. So, if you have a history of missing payments – even just one – your credit score can be negatively affected.

That said, all of these items listed in your credit report will give your lender a better idea of what type of borrower you’d be based on your previous credit behaviors.

Capital

Obviously, you need a certain amount of money in order to qualify for a loan. When a lender assesses your financial profile, they look at your overall capital, and that starts with your income. The more money you bring in every paycheck, the higher your capital level will be and the better the odds of mortgage approval.

Your capital also includes any money in savings and checking accounts, as well as capital that’s tied up in investments, real estate, 401(K) accounts, and IRA accounts that can be sold off to liquidate some equity. Having more capital that can be easily accessed can offer a financial cushion to fall back on should there be a sudden interruption in income.

Collateral

Collateral is an important factor that lenders consider before offering loans to borrowers, as it provides a way for lenders to recoup their funds if borrowers ever default on their loans. In the case of a mortgage, collateral is the home itself. If the borrower fails to make their payments, the lender can repossess the property, sell it, and recoup their losses through the proceeds of the sale.

As such, lenders consider the current market value of the home that’s being used as collateral for a home loan. An appraisal will usually be ordered by the lender in order to determine the exact value of the home before extending a mortgage. After all, lenders will want to make sure that they’re not loaning out more money than what the home is actually worth.

Lenders will also use the collateral for the loan to determine a borrower’s loan-to-value ratio (LTV), which is a critical piece of information needed to assess the risk level of a particular borrower. The LTV is the ratio of the loan amount compared to the value of the collateral (in the case of a mortgage, the home). 

In the eyes of a lender, a higher LTV is associated with a higher-risk borrower. If you’re borrowing an amount that’s close to the value of the home, you’ll be considered high risk to the lender. For instance, if you borrow $400,000 to buy a property worth $425,000, your LTV would be 94%. Ideally, lenders like to see LTV’s under the 80% mark in order to improve the odds of mortgage approval and to secure a lower interest rate.

Not only does your capital play a role in your LTV, so does the value of your collateral.

Capacity

The job of the lender is to assess whether or not a borrower actually has the capacity to pay back the mortgage. To do that, lenders will look at your debt-to-income ratio (DTI), which is the percentage of your total monthly debt payments (including credit cards, car payments, student loan payments, and your future mortgage payments) relative to your total monthly income. The purpose of this ratio is to give lenders an idea of whether or not you’d be able to comfortably handle more debt in the form of a mortgage.

If your debt load is already high, the odds of you being able to comfortably cover your monthly mortgage payments are lower. Ideally, lenders like to see DTI’s no higher than 43% before approving a borrower for a conventional mortgage.

For instance, if you currently have $500 in monthly debt obligations and will need to pay $2,000 per month for your mortgage, your total debt would be $2,500. If your gross monthly income is $7,000, then your DTI would be 36%. Most lenders would work with this DTI since it’s under the 43% threshold. DTI’s provide lenders with a good indication of a borrower’s capacity to pay the mortgage over time.

The Bottom Line

The more you know about the factors that are considered during the mortgage application process, the better able you’ll be to position yourself to maximize the chances of approval. The “4 C’s” play critical roles in how lenders will perceive you as a potential borrower.

Understanding how your credit, capital, collateral, and capacity affect your ability to secure a mortgage will help you figure out how your lender came to the conclusion about either approving or rejecting your mortgage application. In the case of the latter, understanding your 4 C’s might help you identify areas that require improvement in order to increase the odds of mortgage approval in the future.

CHICAGO NEIGHBORHOOD NEWS: Lakeview, Bucktown and Wicker Park, Lincoln Park, River North, Lincoln Square, Portage Park

Lakeview: When’s the last time you cleaned out your closet? If you’re anything like me, it’s been a while! Now you have an opportunity to clear out your closet clutter and donate to a great cause at the same time. CD One Price Cleaners has partnered with The Cara Foundation, an organization that prepares and inspires individuals to break the cycle of homelessness and poverty and forge paths to long-term success. Cara teaches specific skills, like computer classes and how to interview, all while helping individuals find full time jobs. CD Cleaners is asking its customers to donate their gently used men’s and women’s clothing, including suits, skirts, blouses, and dress pants. You can drop off your items at any of their 36 locations. Donation begins on February 23 and runs until March 31. Find a list of locations on their website!

Bucktown and Wicker Park: It’s not too early to make plans for St. Patrick’s Day! Get ready for the 2018 Chicago St. Pat’s Bar Crawl in Wicker Park! The crawl begins at 11 am on Saturday, March 17. Check-in is at The Flat Iron (1565 N Milwaukee). Your package includes two $5 gift cards for food or drink, drink specials ($3, $4, and $5 specials), a St. Pat’s Shot Glass medallion, no cover fee at participating venues, and a photo hunt/ online contest for Best Green Group photos! Tickets start at $12, but admission will increase, so get yours soon. Buy your tickets and find more information here!

Lincoln Park: Are you craving summer weather and activities? Well, we can’t do much about the weather, but we can help with the activities! Join Summer House Rum Club for “An Island Luau” this Tuesday, February 20 at 6:30 pm. Escape the cold weather and go on a journey to paradise on the back patio, complete with tiki-inspired drinks and passed Hawaiian classics. Food includes: Coconut Shrimp with orange sweet chili dip, house-made Crispy King Crab Dumplings with sweet and sour sauce, Ahi Tuna Poke with plantain chips, Chicken Kabobs with lime and rum, Prime Beef Satay, and Banana Leaf Roasted Kalua-style Berkshire Pork with sweet Hawaiian rolls, corn and flour tortillas, pineapple chutney salsa, and pickled red onions. Tickets are $65 per guest, plus tax. Please call 773-634-4100 or email Michelle at shsbparties@leye.com for tickets. Find more information about this summery event here!

River North: Mark your calendars! It’s time for the 2018 Chicago Wine Fest- a River North wine tasting! The event is on Saturday, March 10 from 12 pm to 4 pm. Located at Moe’s Cantina River North, the event will feature wine tastings of over 35 wines from all over the world and a cheese plate. Tickets are $60 and are available for purchase now!

Lincoln Square: Looking for something new? On the fourth Friday of every month, DANK Haus screens modern German films with English subtitles. They have a brand new screen and projector to further enhance your viewing experience! DANK Haus encourages participants to engage in discussions about the film and to suggest films they’d like to see in the future. Admission is free and there are drinks and snacks available for purchase. DANK Haus is located in the German American Cultural Center at 4740 North Western Avenue. The next film is called Honig Im Kompf and will be screened on Friday, February 23 at 7:30 pm. Find more information here!

Portage Park: Need a little relaxation? Breathe and Brunch is the event for you! This yoga and superfood feast will feature a gentle and rejuvenating yoga class followed by fresh and healthy eats. The event is Saturday, March 10 from 10 am to 12 pm at Anne’s Haven (5629 W. Irving Park). Tickets are $25 and space is limited, so be sure to reserve your spot early. Find more information and reserve your spot here.

RACHEL HOOVLER & DEAN’S TEAM CHICAGO

Restaurant Review – Big & Little’s

I kept hearing about Big & Little’s- a colorful restaurant splashed on the corner of Belmont and Kenmore. As I was walking through Lakeview earlier this week, I decided it was finally time to try this spot I’ve heard so much about. I stopped in on a Wednesday evening, around 7 pm. The restaurant is counter service and there were only a few other diners in the restaurant, so I had no problem finding a cozy table by the window. The space is small, so I can see how on a busy weekend night, it would be packed. When I first went up to look at the menu, I was shocked by how low the prices are: $1.99 for a breakfast taco, $2.99 for a carnitas taco, $6.49 for a burger. I asked how large the tacos were and the server told me they recommend 2-4 tacos per person, depending on how hungry you are. I had come with an appetite, so I decided to order 3 tacos. I chose the Mahi, the Spicy Beef Short Rib, the Hawaiian Pork, and the Truffle Fries (I couldn’t resist). The Truffle Fries were absolutely delicious- crisped to perfection. I ordered them with a side of chili aioli, which perfectly complemented the richness of the truffle oil. The Mahi taco was piled with a generous amount of fried mahi (you can also order it grilled), lettuce, cabbage, “special sauce” (the chili aioli), Asian sesame sauce, and lime juice. I love fish tacos and this did not disappoint. The sauces were flavorful without being overpowering and the vegetables were bright and crunchy. Next, I dug into the Spicy Beef Short Rib: seared shredded short rib, onions, and cilantro topped with a spicy Thai sauce (the menu describes it as a sweet and spicy chili sauce). The short rib was perfectly seasoned and had a nice crisp on the beef. And finally, the Hawaiian Pork: seared shredded pork, pineapple, chipotle peppers, queso fresco, and samurai sauce (a soy based sweet sauce). I wasn’t expecting the pork to be spicy, but it had a really nice bite to it. I loved it with the sweetness of the pineapple. I can’t wait to come back and try more things on the menu!

Big & Little’s Lakeview location is at 1034 W Belmont Ave. Their hours are Mondays through Thursdays from 8:30 am to 10 pm, Fridays from 8:30 am to 12 am, Saturdays from 11 am to 12 am, and Sundays from 11 am to 10 pm. They also have a location in River North at 860 N Orleans St. and one in Wicker Park at 1310 N Milwaukee Ave. You can find hours and other location information on their website. Big & Little’s is also available for online ordering.

RACHEL HOOVLER & DEAN’S TEAM CHICAGO

Kathy’s Home & Garden Tips – After a Big Snow Fall

Blowing the driveway and cleaning the sidewalks are just the first things we need to be mindful of after a big snow. This week we had our biggest snow in the last 2 years around Chicago. When you are shoveling and blowing snow, always be aware of where the snow is going. Before you know it melting will happen. A large pile of frozen snow doesn’t cause too much of a hassle but when it starts melting it could cause flooding or other problems. Always blow snow away from the house. Don’t salt until you know the snow is finished to save on salt being wasted and blown onto the grass and landscaping. If you can, pull heavy drifts away from the side of your house. Make natural paths for flowing water by making gutters in the snow along a fence or sidewalk to divert water away from your property.  Make sure all the drains around the house are clear of snow or leaves. This is especially important if you have an alley by your garage. Do the neighbors a favor and keep the alley sewer open. Often we’ll get some melting during sunny days, then refreezing when temps go down at night. Getting the most draining during the day will help with dangerous ice forming at night.

If you have roof areas on your house and garage that are accessible from the ground, it’s a good idea to invest in a roof rake. It comes with a wide shovel-like piece and three or four attachable poles. You thrust the shovel end as high as possible on the roof and pull off as much snow as you can. Snow can be extremely heavy depending on water content. Very wet snow can weigh as much as twenty pounds per square foot. We had a garage roof collapse and it was nearly a catastrophe. We’ve reinforced the garage since, but we also bought a roof rake and use it every time there’s more than six inches of snow. Then we look to the house. As you look at your neighbors’ houses, you will see massive icicles hanging from the roofs. You might think, “Oh well, the worst thing that could happen is the gutter might get damaged.”. But it can get much worse. At the top of the icicles is a solid sheet of ice. As snow melts from the heat from the house and refreezes, the ice line creeps further up the roofline. Ice often forms underneath the roof shingles. This damages the roof and can even cause leaking in the house. Removing as much snow from the roof will help prevent this. Also, always knock down as many icicles as you can by running a broom along the gutter.

As with many things around the house, a little prevention is worth a pound of cure.

KATHLEEN WEAVER-ZECH & DEAN’S TEAM CHICAGO

5 Elements of Feng Shui For Your Home

Your home should ideally be a safe retreat that you can feel comfortable and tranquil in, no matter what’s happening in the outside world. Interior designers go to great lengths to try and create a space that’s not only stylish and visually appealing to homeowners’ tastes, they also strive to create a home that provides a sense of balance.

That’s exactly where “feng shui” comes into play. It’s this ancient Chinese art and practice that aims to allow the natural flow of  “chi” or “qi” – the life force or material energy of the universe – in a space. Feng shui offers a specific way to fill a home with this balancing energy, and it’s done by incorporating five essential elements: wood, fire, earth, metal, and water.

1. Wood

Incorporating wood into the home is easy enough, given all the furniture pieces and decorative accessories available in this natural material. But not only is wood esthetically pleasing to the eye, it also evokes a sense of tranquility and balance when introduced into the home environment.

The wood element is associated with health and prosperity, as well as natural growth. It represents a new start, which makes it an ideal element to add to a new home. Wood is intricately related to two other feng shui elements: fire and metal. While wood feeds fire, metal controls wood. It’s this dynamic relationship between these three elements that helps bring balance into a space.

When it comes to color, anything in the green or brown families works well for the element of wood. To bring wood into your home, consider adding houseplants, wooden bowls, and wood shelving. And as for shape, anything with a rectangular or columnar contour works well. For patterns, anything with vertical stripes can add some vibrant energy into a space.

2. Fire

The element of fire is all about high energy, emotion, passion, and creativity. It’s also associated with reputation, fame, integrity, and the way in which your inner light shines. Given these attributes – as well as its physical aspect – it should come as no surprise that the color associated with fire is red, along with related hues such as bright yellow, orange, and pink.

A simple way to infuse fire into your home is by simply illuminating it with lights, candles, and even a wood-burning fireplace. You may also add elements into your home’s decor that feature triangular shapes, which are also associated with fire. Things associated with life and living beings – such as animal prints or photos of real people – also add to fire.

Essentially, anything you can bring into the home that features some form of light and red color palette will help add the element of fire to contribute to your feng shui interior.

3. Earth

Stability, sustenance, knowledge, and support are all traits of earth in the realm of feng shui. The element of earth helps to create a sense of grounding when outside factors cause instability. It’s curative and healing in a way and brings back a level of control in a world that can often feel disorderly. The earth is meant to offer a sense of support, especially during times of chaos.

The square shape is most appropriate, as it’s the shape with the most stability. More specifically, flat, horizontal shapes are more heavily linked to earth. In addition, colors such as light yellow, tan, and light brown are earthy hues that can be incorporated into a space to tap into this feng shui element.

A simple way to add an earth element into the home is to add things that come from the earth itself, like natural stones, bricks, and ceramics. Square-shaped terracotta planters and stone tabletops, for instance, can easily accomplish the task of adding an element of earth into a home. Painting walls in pale yellow and light brown and adding accessories such as throw pillows in these colors is another simple way to bring in the earth element into an overall design.

4. Metal

Metal is considered to be the purest element of feng shui and represents organization, focus, strength, and achievement. It’s meant to establish an environment that fosters successful ventures, capitalized opportunities, and keen insight. The energy that metal brings to an interior draws things together in a coordinated manner.

Associated with metal are the colors white and gray, along with  the round shape. These colors and shapes can be incorporated into a space by introducing oval-shaped area rugs, circular picture frames or mirrors, and round tabletops in shades of white and gray. Of course, you can always use paint on the walls to express the element of metal in any room of the home.

Blending this element with fire can help soften the typically harsh traits associated with metal and bring a sense of balance to a space.

5. Water

The element of water works in two different ways in feng shui: stillness and movement. Still water is associated with self-reflection and the inner self, while moving water is an expression of communication and community. The addition of water completes the elements of feng shui to create a well-balanced home.

Water is associated with the colors black and blue, as well as irregular and undulating patterns. Incorporating items in these dark colors and combining them with things that have a transparent or reflective surface can help create an aura of balance. This works even better with the addition of sporadic patterns and when combined with the fire element.

The Bottom Line

If simplicity and balance are what you’re aiming for with your interior design strategy, you may want to consider adopting a feng shui method of decorating. When used properly, the five elements associated with feng shui can make your home both sophisticated and comfortable to spend time in.

Feng shui is all about living in harmony with your surroundings, and using these specific elements can actually help reduce feelings of stress and disarray while evoking feelings of calm and stability. In a world that is inundated with stressful situations, it’s nice to come home to an environment that can evoke a sense of calm and stability.

THIS WEEKEND IN CHICAGO – It’s February – It’s Cold – It’s Snowing!

Believe it or not, a great weekend is in store for Chicagoans! We are climbing the walls already and really need to get out; even though it’s February, it’s cold, and it’s snowing!

Nestled in Chicago’s Gold Coast neighborhood is a winter block party now that the 2018 Winter Olympic Games are officially on.  The Retro Ski Lodge Block Party “Winter Olympics Edition” is this Saturday with all participating venues opening their doors at 10:00 a.m.  It’s a retro-ski meets Winter Olympic-themed bash not to be missed.  General admission (Olympic Village) tickets include admission to all venues, one drink voucher for the crawl, DJ and Olympic watching entertainment, opening and closing ceremonies, access to drink specials, shot skis, Yeti sightings, charity donation, and much more!  Patrons are encouraged to dress in their Olympic attire such as neon, spandex, goggles, ear muffs, and leg warmers.  The first 400 will receive free Retro Ski Lodge sunglasses.  There’s no better “festive” viewing party around!!

Chicago’s largest and coolest pizza festival is coming this Saturday to the Ravenswood Event Center (4043 N. Ravenswood Ave.).  The Chicago Pizza Party features 20 of Chicago’s top pizza restaurants serving up slices of their best pies ($2/slice) and vying for the title of “Best Pie in Chi!”  There are two sessions:  all ages (1:00 p.m.-5:00 p.m.) and 21+ event (6:00 p.m.-10:00 p.m.).  Guests can also expect a rooftop dessert lounge, local breweries, fun games, and top DJs!

For one day only (Saturday, 11:00 a.m.-6:00 p.m.), you can roll right out of bed and go straight to The Pajama Crawl in the Wrigleyville neighborhood.  Tickets include admission, a breakfast buffet, three $4 gift cards to use on the crawl, giveaways, and more!  After-party will be at Moe’s Cantina River North.  Just mention you’re there for “The Pajama Crawl” between 10:00 and 10:30 p.m. for two free gift cards to use from 10:00 p.m.-11:00 p.m.  Before midnight, you get one gift card.  Don’t forget your slippers!!

Reminder – Valentine’s Day is Wednesday!  Here’s what’s going on this weekend before Valentine’s:

No Pants!  No Problem!  Cupid’s Undie Run is this Saturday from 12:00 p.m. to 4:00 p.m. at John Barleycorn (3524 N. Clark St.) in the Wrigleyville neighborhood.  Join in the nation’s largest pants-less party and “brief” fun run in your undies to find a cure for Neurofibromatosis (a genetic disorder that affects children).  In fact, 100% of the net proceeds go to #ENDNF!  And, if undies aren’t your thing, wear a costume!  Be a part of something great!!

WAMI LIVE INC and Meet People Chicago will be hosting their Valentine’s Day Masquerade Party Saturday (8:00 p.m.-11:00 p.m.) at the Hubbard Inn (110 W. Hubbard St.) in the River North neighborhood.  Come dressed to impress as prizes will be awarded for Best Male and Female Masque.  Ticket includes admission, a complimentary drink, and drink specials.  Plus, you can enter to win the contest for Best and Sexiest Masquerade Mask for men and women!

It’s time to pawty with your dog at the For Paws Club Valentine’s Pawty on Saturday (3:00 p.m.-5:00 p.m.) at the Pooch Hotel (1214 W. Monroe St.) in the West Loop.  This indoor pawty not only features a Kissing Booth photo op, a Valentine Card making station, a curated collection of Chicago vendors and more, but 100% of the proceeds will benefit felines and canines!  Plus, Felines & Canines will be available to answer your questions about their organization and have fashionable swag for sale!!

Are You Climbing the Walls Already?

Sellers: How to Respond to Lowball Offers

The goal for every seller is to sell for top dollar within a reasonable amount of time. But it can be pretty disheartening to find out that there’s an offer on the table only to find out you’ve been lowballed.

So, how should you deal with a lowball offer that’s well below the price you’ve listed? Is it even worth considering and entertaining? Here are some ways to respond to offers that are far less than what you’re asking for.

Keep Your Emotions in Check

Before you respond to a lowball offer, make sure you’re not emotionally charged with your reaction. It’s not uncommon for sellers to be very offended by an offer price that’s well below the asking price, and their response is often heated and made in haste.

The process of selling a home is already an emotional one, and a lowball offer can make the situation even more heated. Try to keep your emotions under control, especially when making the decision to either dismiss the offer altogether or counter with another price.

Try to understand the possible reasons why the buyer may have submitted a low offer price. Perhaps the buyer is unaware of the actual market value of your home and has not done the appropriate research to find out. As such, they may have a distorted perception of what would constitute a valid offer price and submitted an offer they believe is fair.

Or, maybe the buyer is simply trying to get a heavy discount on the home and is trying their hand at getting a great deal. Maybe they’re not even serious at all about buying and are simply testing the waters to see what kind of deal they can potentially snag.

Whatever the reason for the lowball offer, your first step is to control your emotions, no matter how you feel, and approach the situation with a cool head.

Take Another Look at the Comps

If your home has been on the market for a little while, it’s possible that the comparable listings may have changed since you first listed your home. If that’s the case, you might want to have your agent pull another report listing all the recent sales of similar homes in your area in case there’s been a change in market value.

Home prices fluctuate frequently, and if your listing has been lingering for a bit, your asking price might no longer be an accurate reflection of the current market. That could be a reason why the buyer submitted what you may consider a lowball offer.

Counter Appropriately

Your first reaction to the lowball offer is to reject it and refuse to entertain it at all. But it’s still an offer, and you’ll never know how much further you can get the buyer to come up in price if you don’t counter.

You’ve got some options when it comes to countering a lowball offer. For starters, consider countering with your absolute lowest and final price that you are willing to take. Make sure to communicate the fact that it’s your final offer in order to show the buyer that you are serious and avoid any unnecessary and time-consuming back-and-forth bantering.

You might also want to consider countering the offer back to the full listing price if you’re confident that what you’re asking is fair according to the current market. Again, this will tell the buyer that you’re serious and are therefore only willing to work with buyers who are equally as serious. However, you should understand that this tactic could discourage the buyer from continuing with the negotiations.

At the end of the day, you’re in charge of how much you accept, and countering a lowball offer can still keep the doors open to potentially reaching the price point you’re looking for.

Consider All the Terms of the Offer

Of course, the offer price is a crucial component of an offer that will play a key role in the decision of whether or not to accept. But there are other terms of an offer that shouldn’t be avoided. There are plenty of terms and contingencies in an offer that should also be seriously considered, and it’s important that they’re all carefully assessed before throwing out a lowball offer.

For instance, the buyer may be offering a hefty earnest deposit amount or a closing date that closely matches what you want or need. Or perhaps the buyer is keeping the contingency list as clean as possible without inserting any more than just financing and inspection clauses. While price is probably the most important component of the offer, it’s not the only one that should be considered.

Let Your Real Estate Agent Take the Reigns

You’ve got a listing agent for a reason, and a lowball offer situation warrants some guidance from this professional. This is one of the many reasons why you hired an agent in the first place. By having an agent on your team, you’ll have an experienced professional by your side to help you respond to offers appropriately and negotiate to help you achieve a successful deal.

The Bottom Line

While a lowball offer situation is far from ideal, it can still be salvageable depending on how you respond. Depending on why the buyer offered such a low price and what their true intentions are, it’s possible for there to be a meeting of the minds and a deal made. Rely on your real estate agent for advice and follow their suggestions to help you reach a deal you can be happy with.

CHICAGO NEIGHBORHOOD NEWS: Lincoln Park, Lakeview, Bucktown and Wicker Park, Chicago Loop, Edgewater, Oak Park

Lincoln Park: Still looking for the perfect Valentine’s Day plans? Geja’s Cafe has you covered with not one, but two Valentine’s events. First, join Geja’s for the Celebration of Marriage on Monday, February 12. Couples will receive 1% off their food bill for each year of marriage under their belts. Or, go for the Valentine’s Day Dinner Package! The package includes a cheese fondue appetizer with assorted bread, apples, and grapes; Geja’s salad with cucumbers and a dijon vinaigrette; lobster, shrimp, and beef entree fondue with assorted vegetables and eight dipping sauces; flaming chocolate fondue dessert; and a glass of sparkling rosé at any point during the meal. You’ll also receive a Geja’s keepsake to take home with you! Package seatings are at 4 pm ($100 per person), 6:30 pm ($115 per person), and 9 pm ($115 per person). Tax and gratuity are both included in the per person cost. The 6:30 seating is sold out, but the 4 and 9 pm are still available! Book your table now, here!

Lakeview: Want to get fit and give back this Valentine’s Day? Check out the Cupid’s Undie Run this Saturday, February 10. Run through Wrigleyville in your unmentionables and raise money for finding the cure to neurofibromatosis, a genetic disorder that affects 1 in every 3,000 children born. Participants can raise funds to earn prizes including shirts, undies, and engraved flasks. There’s also a kickin’ afterparty at John Barleycorn! The event is from 12 pm to 4 pm and costs $40. Check-in is at 12 pm, the run starts at 2 pm, the run concludes at 2:15 pm (it’s a “brief” one), and the party is over at 4 pm!

Bucktown and Wicker Park: Valentine’s Day is the same day as Ash Wednesday this year. Need a place to go? Try Mac’s Wood Grilled in Wicker Park, located at 1801 W. Division St. They’re doing a Lenten Fish Fry beginning at 5 pm. They’ll offer $12 Fish and Chips, fresh beer battered cod with crispy hand-cut fries. The deal will run every Friday from February 16 to March 30. Find more information on their website!

Chicago Loop: Looking for a little scandalous fun this Valentine’s Day weekend? Check out “The Naked at the Art Museum Scavenger Hunt”. This Saturday, February 10 and Sunday, February 11 at 1 pm, you can scour the Art Institute for their best nudes. Seek out bathing beauties, sultry sirens, and more provocative art, all while learning about art history. Tickets are  available through Watson Adventures on their website. They’re just $38 dollars, including admission to the museum.

Edgewater: Treat your sweetheart to an unforgettable dinner this Valentine’s Day! Join Francesca’s on Bryn Mawr for “Wine & Dine with your Valentine”. The menu begins with an Insalata Mista con Lampani: mixed greens with a raspberry vinaigrette, caramelized walnuts, and bleu cheese. Next is the Ravioli Degli Innamorati: heart-shaped four cheese ravioli with a white truffle cream sauce, chives, and fresh tomatoes. Then, choose from the Branzina alla Zaffarena: pan-roasted sea bass with shiitake mushrooms, red and yellow peppers, green onions, and a saffron cream sauce; or the Filleta al Gorgonzola: grilled filet medallions served on a bed of spinach with gorgonzola sauce and grilled portobello mushrooms. Finally, finish your romantic meal with the Cuore Bianca: a warm maple butter cake with vanilla gelato, fresh berries, and a chocolate heart. Make your reservation here, now!

Oak Park: Celebrate your Valentine with a romantic concert! Soprano Christine Steyer and company present “My Funny Valentine” at Nineteenth Century Club in Oak Park. This program of love songs will help you get in the mood to celebrate this month of love! A new tenor, Emanuel Carama, will also be featured. The program is this Monday, February 12 at 1:15 pm. There is a suggested $10 donation and you can make a reservation for lunch as well. Find more information on their website!

RACHEL HOOVLER & DEAN’S TEAM CHICAGO

Restaurant Review – Aloha Poke Co.

It’s always awesome to find easy, healthy food on the go. This week, I stumbled upon Aloha Poke Co. With seven locations in the city, it’s safe to say this chain has blown up here in Chicago. I went to the location in Lakeview, at 843 Belmont Ave. It’s an adorable counter-service spot, with brightly colored chairs and hula figurines adorning the walls. The menu is small and simple. First, you choose your size: little (8 oz.), big (16 oz.), or kahuna (24 oz.). Then, you select your base: white rice, brown rice, or mixed greens. Next, select your poke: ahi tuna, salmon, or tofu. You can choose to have your protein marinated in a sesame and shoyu sauce or “naked”. Next, you can either choose a House Bowl with pre-selected ingredients or a P.Y.O.B- pack your own bowl! My best friend decided to try the Aloha Bowl. She had chosen brown rice and tuna. The Aloha is packed with pineapple, cucumber, scallion, jalapeño, maui onion, and a sesame vinaigrette. She said it was absolutely delicious! The ingredients were perfectly proportioned and she really liked the sesame vinaigrette. I decided on a P.Y.O.B. I started with brown rice and marinated salmon. Then, I added cucumber, maui onion, jalapeño, edamame, pineapple, ginger, and avocado. Finally, I got to choose a sauce. I could choose from Samurai (sweet and savory), Spicy Aioli (tangy and spicy mayo), Wasabi (horseradish and wasabi), Sesame Oil (toasted and nutty), Sesame Vinaigrette (light, citrusy, and sweet), Volcano (chili and ponzu mayo), or Yuzu (Japanese citrus ranch). I love aiolis, so I decided on the Spicy Aioli. The whole bowl was wonderful! The mayo was creamy and spicy and really added to the fresh, crunchy veggies in my bowl. We will definitely be back to try another bowl!

This location of Aloha Poke Co. is open 10 am to 10 pm 7 days a week. You can find information about their other locations here. Aloha Poke is also available for pick-up and delivery. Check that out here!

RACHEL HOOVLER & DEAN’S TEAM CHICAGO