Tuesday, July 17, 2007

True Story...albeit a little off the subject


True Story. I sat next to a one-armed girl in typing class back in the 8th grade. I know it shouldn't have... but it freaked me out and I couldn't ever really concentrate on the teacher's instructions. I forget the girl's name now although our surnames must have been similar (alphabetical seating, and all), but I do recall that she was the fastest typist in the school. That fact was well broadcasted and she received constant praise from the Faculty of Secretarial Curriculum. Thinking back I guess maybe she had two arms but only one hand. I can't say for certain. I tried not to look too closely but I do remember the way she returned the carriage with her left elbow at the end of each line or paragraph.. So yes...two arms, two elbows, one hand. I'm pretty sure.

Ironically, I would later in life lose most of my hair (to absolutely no praise or acclaim) and the majority of sight in one eye (drinking accident), and come to understand how one adapts to such curveballs Fate hurls ones way. Anyway, the result was I became among the worst typists in the grade.--me and everyone else that didn't sign up for the class to begin with, although I wasn't given that choice. As you might suppose, most of the guys who enrolled in Intro To Typing did so because of the obvious high 'girl to boy' ratios in such classes. Mine was just a bad handwriting issue and a mandate from my Guidance Counselor. Typewriters were 'the way of the future,' I was told. I didn't buy it, though. One armed girl or not, I hedged my bets and went in the opposite direction saving up my paper route money for something called a calculator. And even though they were $200 at the time for the simplest model, it was my only hope of getting through four more years of Math. I eventually bought a guitar instead and graduated in the bottom third of the class with all the other smart alecs.

So, I didn't become a rock star because of the hair loss issue (although I understand the drummer of Def Leppard has only one arm and one leg), a pilot because of the bad eye, an architect because of low Math IQ or a writer because of horrible handwriting and equally bad typing skills. And as luck would have it, typewriters were not the 'way of the future,' but computers were, leaving me on the sidelines in about every way imaginable from a career standpoint. Ultimately, I sold Insurance for a living until I was 40.

Add on another 10 years in the Real Estate arena and the mercurial cycle of life completed yet another revolution and landed me back to where I was in 1969--in front of a keyboard with a lot to say and only two fingers with which to say it. At this stage of the life game I would almost gladly give up a hand--or even a hand plus an elbow (no return carriages necessary on a laptop) to be able to spill out a couple hundred volumes of work at a 120WPM. There are not only Real Estate related blog posts floating around this shiny dome of mine, but novels, short stories, essays, and screenplays, as well--or so I imagine as I peck away in earnest trying to complete a sentence before I forget the driving thought. As a result, I am seriously considering enrolling in an adult typing class just to help extract these ideas from my brain to the screen via my fingertips in a speedier manner. It certainly couldn't hurt

I met a one-armed man on a cruise a few years back. Sat next to him in a whirlpool almost everyday on the pool deck as we cruised the Caribbean at Christmas for the umpteenth time each, it turned out---St Maartens, St. Kitts, who cares. Anywhere but the Midwest in December, is my credo. His too.

"Let the wives shop and we'll just get a tan on whatever is left of our aging bodies," my new friend said one morning, including me some way in his own personal quagmire of physical shortcomings. He probably meant the hair, come to think of it, or perhaps it was the slight limp from an old high school football injury that pops up every so often. He sold cars in Detroit. Judging from the gold Rolex on his remaining wrist he seemed to be doing pretty well for himself. I can only hope that my junior high school typing companion found a similar route to success in her life---or at the very least, simple happiness and a decent computer programming career.

Sunday, July 08, 2007

Send Lawyers, Guns and Money...


When I attended my very first Closing of my very first deal with my very first client I sat at the Title Company table feeling a little like a simple house cat trying to wrap his mind around calculus. Honestly, I never paid much attention to what I was signing for the six or seven properties I bought and sold as a consumer before I was an actual Realtor. I just always assumed that my agent and mortgage guy 'had my back' and figured that they wanted to get paid as much as I wanted to move in or out. If I learned one thing in my pre-Realtor Fortune 500 career it was the concept of 'Recruit and Delegate' and there was no reason to believe it shouldn't spill over into my personal affairs, as well.

I discovered during my 15 years in a suit and wingtips that a person can recruit, if not delegate himself into and out of almost any business situation. I was even going to write a book about it once but only got about as far as I've communicated to you here before I began looking for someone else to write it for me. I'm not sure how many words per minute I type these days but I've already been at work on this for 20 minutes so you can do the math if you like. An IBM Selectric typewriter was my weapon of choice in those days so without the technology that now rests at my fingertips (and that would be exactly two with my typing technique) the man hours involved in such an endeavor would be have been brutal. And as usual, I have digressed...

So at my first Closing as a licensed Realtor I was like that actor in that dream about to go on stage with a pretty good idea of what the play is about but not the slightest idea of what the exact lines are--a cross between that, and the calculus curious cat I mentioned above. I watched and listened in amazement as the real estate Attorney went through the scores of pages in both packets--first the loan and then the title. He explained in detail what each form meant; where to initial, where to sign, and what to expect if too many late payments occured or how to make an extra payment every now and then to reduce the principle and accelerate the mortgage.

"This goes to the city. This goes to the state. This goes to your broker," glancing my way with a nod and a wink. His voice and the occasional sigh from my client were the only sounds in the room besides the furious scratching of ink on shuffling paper. Like I just said, I didn't know my lines back then so I wasn't saying a thing although I did want to interject the fact that whatever was coming to me was actually coming to my brokerage office instead and I would receive but my mere cut of the proceeds. Whatever. I just looked on in silence as I've learned to do at every Closing since.

My point here is that a Real Estate Attorney is a 'must have' for any transaction in Chicagoland. Rarely do they come into the picture before an Offer is accepted but they certainly earn every cent of their flat fee, in my opinion, from the Review Period onward. And an FYI to those of you from neighboring states or places far beyond the boundries of Cook County; Title Companies here only record and check the paperwork and distribute the funds. It is the Attorney who does all the explaining. Even after witnessing a hundred or so of such escrow closing ceremonies myself, I would be remiss in thinking I could accurately guide a trusted client through 200 pages of legal documents. And since my transaction activity spans the entire gamut of six and seven figure properties, there are just too many zeros and virtually no room for error in these scenarios for this cat.

Same holds true with the banking end of my deals. I defer to my Mortgage Guru almost 100% of the time I write an Offer. He's helping one of my clients out of a jam even as we speak, as her 'low interest rate internet loan' suicide bombed itself a week before Closing. Recruit and delegate, I'm telling you.

So okay...maybe it's not enough subject matter for an entire book but if you are still reading this by now then I am happy I guess. As I often tell people requesting my advice in real estate legal matters, "I purposely didn't go to law school because I purposely didn't want to be a Lawyer. Besides, have you ever tried to explain the Pythagorean Theorem to any of your family pets? Sure, they will listen but it's pretty obvious from the look on their faces that they are really quite content not knowing what they already don't know. What they do know is how to get fed and watered at regular intervals and I'm pretty sure that's a form of delegation, even if at the lowest of intellectual levels.

Anyway, that would be me. I'm real good at stalking down and retrieving property in Chicago and will even mix it up with the opposing licensed tomcats in the alley if necessary. But my suggestion to you when I show back up with the goods is, if you havent already surmized...call my Guru then get a Lawyer.


Tuesday, June 26, 2007

A Yankee's Guide to Chicago


Chris Hendricks, an Active Rain blogger friend of mine from Cali, is coming to Chicago to watch his beloved Giants take a few swings at our hapless Northsiders. I just looked up the word 'hapless' in my synonym dictionary to be certain I was using the correct adjective and sure enough, directly below the definitions: unlucky, unfortunate and woebegone...was a copy of the 2007 Chicago Cubs schedule. To me this posed yet another question: If 'hap-less' means unlucky, unfortunate, and woebegone...what does 'hap' mean? I looked it up too. And yes, it's a word as well. Definition: one's luck or lot. Funny, eighteen years of Liberal Arts education and I never heard of it. And, if the Cubs weren't already a half dozen games below .500, we wouldn't even be having this discussion.

Anyway, Chris and his wife are coming to Chicago and requested an insider's list of 'non-touristy' things to do while in town. I was thinking as a joke I might arrange a tour of the stockyards (or what's left of them) followed by a trip to the basement of the Sears Tower (think about it...nobody pushes the Down button in that elevator) then maybe a quick dip in the Chicago River after dinner at Charlie Trotter's (average dinner for two---$600. With wine, an easy grand, out the door---but a swim in the only river in the Midwest that flows in opposite directions---priceless,). Like I mentioned, Chris is a blogger friend of mine. I've never really met him in person. Please don't call Dateline.

All kidding to the side for now, I do think that a weekend trip in Chicago using only Public Transportation, specifically the Elevated Train system (EL), would be an awesome way to see our city. So to Chris and his lovely (I'm assuming) wife, here is what I propose:

Friday Afternoon: Fly into O'Hare field, collect your baggage from the lower level of whichever terminal your gate is located and follow the overhead signs to Ground Transportation and CTA (Chicago Transit Authority). Wait for the train to arrive at the platform and take the Blue Line east to downtown. While it may at first seem you are waiting for eternity, it's still a much quicker passage into the city than navigating the expressway with a kamikaze (I'm being polite) taxi driver during rush hour. (BTW, it is always rush hour from the airport to the city.) You will enjoy an interesting, if not scenic view of the urban topography that lies at the feet of our extended city limits. (The airport is actually about 17 miles northwest of the Chicago Loop and was annexed into the city limits by some back room gerrymandering decades ago.) Upon arrival, it's a short walk or cab ride to any downtown hotel.

Saturday Afternoon: Take the Red Line north to the Addison Stop. This is Wrigley Field, home of our hopefully soon to be 'happed' Chicago Cubbies. Come a few hours early to stroll through the surrounding neighborhoods. You may want to skip the likes of the Cubby Bear, Hi-Tops and other such tourist attractions and instead, walk a few blocks east before the first pitch. Boystown is always a fun place to stop for a drink or coffee. Just follow the rainbow flags along Halsted Street. I can't really describe it but you'll know it when you see it. Halsted Street between Addison and Belmont, you can't miss it.

Saturday Evening: If you haven't had too many $7 beers and you managed to arrive safely back to your hotel (Caution: the Red Line ride back after a Cubs game can in itself, be a David Mamet play) consider jumping on the Blue Line west to Bucktown for dinner. This is one of my favorite Chicago neighborhoods and this Metromix link will tell you what's happening there on a daily basis or simply walk the sidewalks and pick a place that feels right for you. You'll love it there. The train stops at the intersection of North/Damen/Milwaukee Avenues.

Sunday Brunch: Take the Brown Line northwest to Lincoln Square. This Northside neighborhood has a German heritage with plenty of local cafes, bistros and restaurants. Get off at the Western Avenue stop and wander eastward. The town square is beautiful.

Also, if you are coming from a northern or southern destination along Lake Michigan the Red Line can drop you within a few blocks of Millennium Park, a must see for everyone including Chicago natives. If you are staying downtown, it is walking distance east from most of the finer hotels and a few of the rattier ones, too. The Crown Fountain, Kappor Sculpture, Lurie Gardens, and Pritzker Pavilion, located in the Park, are all 'must sees' if you are visiting Chicago. The Art Institute is adjacent to the complex so pat one of the guardian Lions on the snout as you walk in to view a Picasso.

I must now admit that I am also a visitor of sorts in this amazing city. Born on the East Coast, I arrived here in the mid-1990's against my corporate will. For the first year or so I wouldn't take off my hat or galoshes in protest of the longitudinal relocation package that landed me here-- even in July. Finally I opened my eyes and learned to embrace the beauty of a 6 week Summer. The dozen or so times I myself have ridden on the EL in Chicago, it's been to the locations I mention above. (Personally, I own two cars and would drive to the mailbox if it wasn't just in my lobby.) Anyway, it's only a thought. Try the CTA if you'd like to give your Chicago visit an added twist of adventure.

As for my friend Chris and his wonderful (I'm pretty sure) wife--I hope this gives them a few ideas. Maybe try one rapid transit excursion this trip--perhaps the Red Line to the game and back or the Blue Line to Bucktown, to be sure. I happen to have house guests in town the same weekend the Hendricks are here so we may very well still never meet in person. My two young nieces from Doylestown, Pennslyvania will be anxious to see what big city surpises my wife and I have in store for them. First stop, Sears Tower...bottom floor....just for laughs.


Geno Petro

Friday, June 22, 2007

SUNDAY OPEN HOUSE 2 UNTIL 5 PM









2746 N. Wolcott Ave, 1 North


{CLICK BELOW FOR MY SUNDAY OPEN HOUSE VIRTUAL TOUR}



...Come to 2746 N. Wolcott Avenue from 2 until 5PM on August 19th. Be among the first dozen guests and receive a bottle of wine, compliments of the house! This is our personal residence and truly, the showpiece of the neighborhood.










Click Here for a 'Virtual' Sneak Peek!


Geno Petro

Friday, June 15, 2007

Hey Jude...Dude.




{A few days ago}

While standing in the Starbucks line with one of my younger clients the other morning I noticed Paul McCartney's latest attempt to puncture the demograhically unforgiving shield of the twenty-something buyer we all seem to be expanding toward with near Einsteinian adequation. Word on the web and beyond is that the ex-Beatle averaged less than a million paid downloads for each of his last three singles (Dude!) and is now banking on the 'check-out line of choice' for Realtors and housewives of all ages, to boost his shrinking musical market share in the U.S. I stood silently looking at the CD display ironically titled, "Memory Almost Full," waiting for my beverage. I tried hard to remember if I even own a CD player anymore. I don't think I do. Great excuse for not forking over the other half of the twenty-spot I just handed the Barista.

To put it in persepective, Hey Jude--a record I did buy with my paper route money--sold 4 million records in as many months back in '67 when the same time adjusted dollar bought you an actual piece of circular vinyl in a mini record jacket with Peter Max artwork, liner notes, and an extra 'B-Side' for all the yet-to-be morphed Trivia Pursuiters in unknowing early gestation. Even compared to a contemporary talent as benign as... say, Hannah Montana of current Disney Channel fame, the old rocker from Liverpool is at best these days, just barely "like...so whatever." (translation: not very popular.)

And while my own twenty-something client was fairly certain she'd heard of the man, she wasn't really sure of anything he'd recorded. "Oh wait...I know. Satisfaction...right?" I should add that she also refers to me as Mr. Petro which pretty much makes me feel like the junior high school Science teacher I never wanted to be. And upon exiting the coffee shop, one last glance over at the air brushed album cover only reinforced the fact that while I'm at least a decade younger, I may actually look older than Sir Paul. Hey, at least my beautiful wife still has both of her own legs and a much sweeter disposition, from what they've been telling me on the on E! Channel.

{40 years ago}

And since I now find myself rapidly digressing down the Abbey Road of my youth I should probably take a moment to mention that the last song of every dance I recall attending during those junior high soirees of the late 1960s was in fact, Hey Jude. It was during these same awkward middle years that I, along with a few of my closest inner-sanctum buddies, would hover close to the Boys Locker Room entrance in the gym only to stand and watch as the marginally cooler upperclassmen and really pretty, older girls (tenth grade) swayed insufferably for the full 7 minute 7 second 'long version' of the ballad. And by the time my buds and I were old enough to get our own pretty girls, Hey Jude had been replaced by Miss American Pie and a dance was the last destination we had in mind as we flew through those remaining high school nights in our Fords and Chevys, with no foreseeable end in sight. And according to my client, herself a 1998 high school graduate, Smells Like Teen Spirit was the long playing finale at her spring formal...from what she understood. Apparently, her and her date never made it to their big event either.

{Back to the future}

We took our Ventis back to my car and quickly navigated through the Northside Chicago traffic before turning onto Lake Shore Drive, headed north to meet her fiance at the Uptown property. We had collectively--on our own and together, in all combinations of accompaniment--already looked at 30 similar places. There was no reason to imagine (hope) that this one would be any better or worse than the others. The light wasn't 'right' at one, 'too bright' at another, 'on the alley,' 'off the alley,' "What...no alley?" 'too close,' 'too far'....and the thing is, I totally get it. Everything is just 'so whatever' these days, from music to condos and everything in between, that I decided to quit fighting it and instead... just get it.

You see, I can't just slap my product at the end of a check out line like Paul McC and expect some unsuspecting young housewife, fiancee or whomever to impulse buy a condo too close or too far from an alley, with or without too much light., based on my past reputation and successes, no matter how much I air brush the promotional photos on my website. My typical internet clients have many, many options so the fact they are even in my car is remarkable in itself. So what, if we have to look at 30 properties together. They've no doubt looked at hundreds on line before we even made a connection. So like I already said, I get it.

I turned up the radio and we listened to NPR in silence as we drove along the lake. They were airing story about the Israeli/Palestinian conflict. Go figure.

"Have you been following that conflict over there?" she asked me, trying to make general conversation I guess, obviously sick of talking about Real Estate and all it has to offer to society. I was lost in thought about how bad Paul McCartney sucks these days.

"Yeah. My entire life." I said. "I've been hearing about it over there, in one way or another, ever since I can remember." And this is true. Be it 1967 or fast forward to 2007, that is the one situation on this Earth that has remained constant, the way I see it. The two best Beatles have already died and nothing has changed for the better in the Middle East. Not even close.

I veered onto the ramp for our exit as her cell phone rang. Her fiance was running about 20 minutes late, she announced. He's always 20 minutes late. Historically, I've never been a late person and such last minute delays used to really tick me off. But lately, I've started to become a bit tardy as well. I mean, who really cares when it's all tallied up at the end of the proverbial day? I circled the block as it started to drizzle.

"There's a Starbucks at the corner," I said. "We can wait for him there."

"Cool," she said.

We stood in the Uptown Starbucks and found ourselves in a similar line staring at the same "Memory Almost Full" display as earlier. The same CD was playing through the speakers. Not very good, I thought again. Pretty lousy, in fact. I felt a little embarrassed for my generation. At least a more youthful icon like Kurt Cobain died before he had to trap consumers at a coffee house and he was actually from Seatlle. As the Barista topped off our half-emptied beverages my client turned to me and spoke,

"I think that Prince is around 50, isn't he?"

{Just the way it is}

I think it was her way of trying to identify with me more as a person than a Realtor now that we touched on such non Real Estate issues such as the Israeli/Palestinian conflict and music from the last 40 forty years. A little of that perhaps, mixed in with trying to find a way to fill the next 15 minutes with small talk until her partner showed up to nix yet another condo. Too 'uptownish,' was my best bet on this occasion, or maybe...'too close to the lake' (I haven't heard that one yet this year) but I chose to keep it to myself. (I stop biting my tongue however, after the 4oth showing-- or the second 'back out' or 'deal kill,' whichever comes first.)

But as I paid for the second and final round of the morning and caught my own middle-aged reflection in the scone and muffin glass at the counter, I couldn't help but think that just maybe I happened upon a connection to a generation that virtually no one--with the possible exception of me and Prince-- born before 1960 might understand. Truth is, a couple hundred grand is a lot of money to those of this generation and whether they plan on spending it on a condo, graduate school, or simply walking the Earth like Cain in Kung Fu, they are going to definitely do it in their own time and in their own way. And in my opinion, at least their music doesn't suck for the sake of being commercial. It's just generally bad on it's own terms.


image by mosaiccartsource

Geno Petro



Wednesday, June 13, 2007

Check Out The Crib








O.M.G! Your BFFs will die when they see your supermodel Duplex in West Lincoln Park/Lakeview. Jenn-air, Bosch, and Granite Kitchen. Marble Baths with Grohe body sprays in two Baths. 20 foot Living Room atrium with curio Fireplace. Two levels of custom paint in designer colors. Deck, so many closets, and 2 secured Parking Spaces make this condo a 'Best in Show.'









Oh, and B.T.W.....it's mine. ps...for $474,900...it's yours.




Wednesday, June 06, 2007

The Cobbler's Shoe


My wife and I just made an offer on a house and I think I've lost all voice of reason. Of course I, in my unbiased Real Estate opinion, think the place is undervalued while she, with her eye for detail and blessed with superior negotiational instincts, considers it overpriced. I like it the way it stands now with it's odd living spaces and turn of the century quirkiness (that's two centuries ago, mind you). Nothing I can't live with, I don't think. She already has plans on turning a guest suite into a private dressing room, as lack of substantial closet space is one of the above mentioned quirks. But then again, she does have a hundred (alright, 50) pairs of shoes and again as many handbags.

She wants to knock out walls and invite Emeril and Ina Garten over to redo the kitchen (which is pretty bad, I admit--and I can't believe I actually know who those people are) while I can live with the un-chic appliances and stenciled oak cabinets for now. She reminds me though, that "for now" can mean "for-ever" in my world and also that my idea of fine dining is airline food---First Class, of course but airline food, nonetheless.

See what I'm saying? I have very little control over this situation and it's not because of this 'God thing' I've been hearing about in the media (alright, NPR) or anything like that. It has to do with that whole Tailor wears a torn suit and Cobbler has a hole in his shoe phenomenon that's been floating around since Aesop's time. I'm an expert negotiator except when it comes to something that requires my own subjectivity. And while I've been called the Real Estate go to guy in Chicago when it comes to OPP*...I can't even buy groceries at Trader Joe's without getting stabbed and robbed in the check-out line (and they're 99.9% recycled and organic tree-muggers).

I am writing this as a mental exercise I suppose, to put aside my obsessive thoughts of lounging for entire weekends in a row on a hammock while the day's catch** smokes itself to perfection on the grill in an actual yard. I should stray from the idea of simply opening the back door in January to let the hound out into the sub-zero night with no residual 'pick-up' duties of my own until the Spring thaw, messy as that might be. I should not allow myself to believe that something as mundane (although it is architectually beautiful) as buying (overpaying for?) a house that someone else no longer wants, needs, whatever...will change my remaining time on this Earth in any significant way.

No, this purchase will not slow down the aging process I've been noticing these past several months in the mirror nor will it help me shed those 10 unwanted pounds (alright, 20) from my middle-aged girth or even make my lovely wife love me anymore than she already does-- or my pets any more loyal than they are, in their own simple ways. Hell, it won't even do anything to help me sell my own listings I have lingering on the Market including the Condo I live in now. Buying this house will simply make me feel good for a few months until I am forced off the hammock and into the garage to try and uncover the lawn care WMPs*. Come to think of it, all these reasons are why I bought a Condo instead of a House in the first place.



(* Other People's Property)
(** Nick's Fish House)
(*** Weapon's of Mass Procrastination)

Geno Petro

Thursday, May 31, 2007

Issues, Smissues...(bring out the tissues)


Real Estate negotiations have been relentless, if not downright brutal these past several months in my fair city of Chicago. Grown men have been spotted sobbing at Title Company closing tables and the legal mouthpieces are certainly earning their shekels as the bartering continues deep into the final hour, often times culminating just seconds before the final T is crossed and the keys to Heaven are exchanged for the balance of Escrow. Lately, everyone seems to be grabbing with both hands from the metaphoric candy aisle conveniently located at the check-out counter of the Buyer's Market.

As a Realtor, I too have found myself at the foreront of this high seas Trick or Treat line with open briefcase, taking as much as I can for my own Buyers while, likewise on the List side, slamming the door as quickly as possible on the masked marauders trying to steal a deal from my Sellers. They hover around our properties like pirates in business suits and BMWs--sword and pen in one hand, low-ball Offer in the other, ready to pounce on the residential booty with the longest Market Time. Arrghh.

And once a deal is finally agreed upon, it doesn't end peacefully with simple Mutual Agreement and Signed Contract much less, a bloody handshake. More now than ever it appears, The Inspection is becoming the 'Deal after the Deal.' Whether it's involves New Construction, Condo Conversion or Residential Resale, the Home Inspection Report is becoming the preeminant catalyst in most Real Estate transactions I'm privy to these days. What used to be addressed exclusively in the 5 Business Day Attorney Review Period--conveniently nestled between Signed Agreement and Mortgage Contingency Period--the Inspection Period as of late, has been running right up to and beyond the Final Walk-Through with dollars and Seller Credits being re-negotiated even as the last RESPA is being printed out at the Title Company.

Note From Above: All subsequent Real Estate-centric prayers should be immediately redirected from the Appraisal Department to the Inspection Issue Department. Amen.

I was at a Closing last week and got up twice and headed for the elevators with my Buyers. Twice, we were called back to the table to find a remedy for overlooked Inspection Issues that arose during our Final Walk-Through of the property. Finally, a number was agreed upon and the deal Closed. It was nothing that simple Disclaimer and Disclosure (The Double D's of Real Estate) couldn't have addressed months earlier, had the Seller's side of the deal been more forthcoming. In the third hour at the table, someone went into their pockets for $5,000 (and a few tissues, I believe) more to make the deal happen---and it wasn't me. Sad thing was, we all left the building in silence feeling that no one really won. Even the Attorney attempted to tack on an extra $250 at the end. Maybe brutal is the wrong word, but relentless...for sure.

Geno Petro

Saturday, May 19, 2007

I Ain't Cause I'm Not...


I was recently referred to as an 'anecdotal' writer by a Commentor on another blog I contribute to on occasion. Actually, she didn't even refer to me as a 'writer,' (which is okay with me as I didn't make a nickle last year from that craft)...just 'anecdotal.' And she didn't mean it in a nice way either, I don't think.

I was informed that 'bloggers' in general are not 'journalists' at all but rather, individuals who base their subjective 'spewings and conjecture' on, are you ready?... "personal observation or random investigations rather than systematic scientific evaluation...of the treatment of subject matter in representational art..." (I'll spare you the rest of the diatribe). "Especially real estate bloggers," she added. In closing she mentioned, in kind of a snooty tone to boot, something about, "Man On The Street Reporting" and that it was among the lowliest of literary genres...if even that. "Just look what it has done to local television news." Sounded to me like she got dumped by a real estate blogger sometime in her past, but that would be subjective conjecture on my part. And as she was quick to (or not to) point out, what do I know? I stepped back, put on my Chicago Realtor hat and thought for a few moments as I re-read her Comment.

"Huh?" was my best retort, I concluded. The response seemed appropriate on so many levels--the old implied "I know, I know...I'm dumb, you're smart/you're right and I'm wrong" reverse-psycho, half-hearted sarcastic, ying/ yang 'come back' I learned in the 8th grade (when I also first learned what an anecdote actually was). After a minute or so of further mental debate I went ahead and pushed the Send button--admittedly a weak 'fire back' across the bow--adding my own monosyllabic Response to the modestly accumulating Comment Section below my piece. Let it be known from here 'til Deletion...The author's ('blogger's')reponse was "Huh?"...

I had most certainly happened across the dictionary definition of 'anecdote' in a past life but never thought it was a bad thing, necessarily. I've just always preferred to write in this manner (if I even felt like writing at all, to be honest). It's not like I'm applying for a Pulitzer or even a copy desk job at the Daily Herald, Bugle or wherever. I am purposely not a journalist because I purposely need to make about what a good attorney makes a year. I'm just a middle-aged fellow who sells Real Estate for a living in Chicago and spins the occasional yarn to keep things light--anecdotal, I am told...

I mean come on, do you really care about "Ten Things To Do Before Listing Your Home," "Spring Cleaning Tips," "Market Trends In Hot Neighborhoods?" or other such sophomoric (if even) real estate 101 crapola every other blogger in this field writes about 24/7/30/52/365/infinity...? Don't you already know these things anyway or at the very least, are you not able to figure them out on your own? I pay a monthly fee to have such items addressed in my sidebar or linked to my Home Page so I can write about...well...anecdotal stuff. You know, funny stuff.

So to my beloved Commentor, allow me to add to my three lettered, time stamped "Huh?" the following: The way I see it, I get to be funnier than most attorneys, live in the same neighborhood (two in my condo association alone although at last count, no 'newsmen' that I know of) without ever having had to attend law school or ever pass a bar--of any kind. And as far as whether I do or do not fancy myself a journalist, all I can add is I do have some experience in the field--I was a paperboy once. Oh yeah...... and I sold a house today. So there. That's about 10 grand after taxes, if you're counting.

Sincerely yours,

Man On The Street

photo by answers

Geno Petro

Thursday, May 10, 2007

Marvin Gardens, The Shotglass and Me




For the first seven years of my life I was an only child. Both parents had careers and my mom continued working (as she had for the 10 years of marriage before I was born) until then. When my first sister popped onto the scene in 1963 the Petro family dynamic would change forever in our new, single income home. And while on one hand I had newly found seniority over another living creature other than the dog, Shatzie, I likewise learned to accept my reduced share of cherished parental attention (yeah, right...it was the 1960's. Let's be real) with dignity. A few years later, 'sis' number two came along and instantly, it was an oligopoly--which, if Econ 101 serves me correctly, is at least one more than a duopoly and two or more than a monopoly. In other words, I no longer ran the entire show in the 'age 7 and under' category in our house and soon came to understand that any and all future familial credits and debits, material or emotional, would forever be split at least three ways, ad infinitum. Throw all that 'Only Child' psychological junk right out the window. Enter... 'Oldest Son.' It was my first promotion.

Two sets of Aunts and Uncles, a few blocks away, watched me on an alternating basis almost daily up until this point in time. So to my many cousins, I was the 'orphaned cousin Genie,' the skinniest child ever to walk the already crumbling sidewalks of Levittown, Pennsylvania. And to top it off, because one Aunt saw me "rolling my eyes a lot" she suggested to my parents I wear glasses--as it turned out...big, black ugly ones like Elvis Costello wore in the 80's and high school Science teachers wear to this day, I suppose. I had already narrowly escaped the big, black orthopedic shoe scenario with some quick think 'mimic walking' of my non pigeon-toed peers but my early onset sarcasm (the eye rolling, apparently) put me in thick black frames until I stopped cutting my hair in the 70's when all childhood bets were finally and ultimately, off for good.

So....until that second grade Catholic school year I spent most of my unquality time at my cousins' respective households where I was among the youngest and smallest of the Petro males. There were a lot of Petro kids of all grades and sizes in that particular era, 15 besides me--at least 15 if I recall correctly, so we played a lot of games to pass the time--the kind of games made out of cardboard and toxic lead pieces in taped up boxes--not silicone chips, LCD screens and joysticks, if you know what I'm saying. And being an hour or so west of Atlantic City, we always played Monopoly. It was the best game ever invented, we were sure.

Now, hovering around the bottom of the family foodchain meant my game face persona was, as you might guess... The Thimble. Not The Dog, nor The Racecar.. not even The @#&%ing Iron.

No, GenieWeenieJellyBeanie (that nickname hung in the air until I got bald and heavy and everyone became convinced I was either in The Mob or auditioning for The Sopranos) almost always got stuck with The Thimble. And with such a status symbol handicap (even The Shoe could at least be mistaken for a boot, which is pretty cool) and little, if no knowledge at all of how to best allocate the multicolored $1500 stake, the most I could mentally muster back in those wonder years was to aspire for the yellow corner of the Monopoly Board--Atlantic, Ventnor, and my all time favorite--Marvin Gardens. Maybe even someday hope to own a few little green houses here and there before inevitably--parking illegally in some Park Place tow zone, blowing my Boardwalk rent money at the Casino or searching frantically for my last Get Out Of Jail Free favor from an ex-inlaw--and going belly up for good. I strived to obtain the little green houses. We all lived in Levittown which was nothing but little green houses in the 1960's, if you think about it.

I learned to become risk aversive before the 3rd Grade. I knew to always keep a hidden orange $500 bill in my wallet in case of emergency. My cousin Eddie taught me how to play the game 'on credit', how to collect from a deadbeat sibling, and as I got older...the beauty of compound weekly interest and the importance of passing GO for the 'two big ones.' The biggest, if not the oldest of my males cousins, he took me under his wing and even let me borrow his silver car on occasion, allowing me to move for him or play in his place if he got bored and left the game for greater, greener pastures--usually a girl down the block.

And when Eddie was in the game, no one much argued with the way he counted the dice when it was his turn to move even though the difference between a seven and an eight can be significant in such a game of spaces. In a few years time I began to earn some family respect of my own at gaming table (bedroom floor). I purposely cracked a lens (to look tougher) of my heavy, back-up specs, wore three and four shirts to show (imply) bulk and swore the most venial curse words whenever possible, mostly beginning with H and D, to prove my entrepreneurial points. I was learning about the Real Estate game. Later in life, more than a few of these lessons proved invaluable. Eddie thought my thimble was a shotglass, or at least called it that to make me feel bigger and stronger, I imagine.

"Snake-eyes!...Shotglass Genie passes GO and collects 'two big ones,' he'd say, grabbing half for the rent I couldn't pay a minute earlier on his Boardwalk penthouse. Eddie was always the bank, too. He'd give me a 'side job' as a Teller which meant I was in charge of all the heavy counting, passing out 1500 'big ones' to start the game, and putting everything away in order, back in the taped up box, when all the fun was over.

If you play Monopoly your whole life you eventually learn how to sniff out the dirty dogs and stay away from the dirty deals that usually follow. You learn to pick your partners wisely and keep a cousin Eddie around, if needed. You learn to count in your head and dollar cost average your losses and not invest in the Railway system in lean economic times. You realize that the meat of the market may very well lie in the 'yellow properties' and the not in the heavily mortgaged and luxury taxed 'blue corner' of the city and if you indeed win 2nd Place in a Beauty Contest, just shut up and take the $15. But most of all...you learn how to have fun doing it.

house and thimble image by hasbro

Geno Petro

Thursday, May 03, 2007

The $4,000 House







I once had a chance to buy a house for $4,000. That's right, one four, one comma, and three zeros. Granted, it was last century (scary thought) and about 25 years ago. The town was Slippery Rock, Pennslyvania and was (is, I admit) also home to my alma mater. Yes, I somehow managed to accumulate a couple hundred hours of college credits and a degree or two from Slippery Rock State College and yes again, such a monikered place does in fact, exist. And finally, in summary of this seemingly unending paragraph down Long Term Memory Lane (or what's left of it from that era), it's probably the main reason you are reading this article here and not in The New Yorker, Atlantic Monthly or any of the assorted 'top shelf ' publications that barely allow writers like me (with degrees from such places) a subscription on credit much less a by-line in the actual magazine.

The rent was $80 a month, the landlord, Charlie--a fall down, snowstorm drunk of Bukowskian proportions, and the setting...well lest I digress too deeply, it was a rock quarry college town in the late 1970's--early 80's fog of my graduate school years. Three miles or so outside of this Western Pennslyvania burgh of mid-to-higher education rested a two-lane stone and concrete bridge and a hundred yards or so below that was nestled, along a rocky and muddy winding descent of rutted roadway, a delapidating park-like community of 1930's circa resort cottages and rusting trailer homes on the banks of the Slippery Rock Creek. Once home to a grand summer pavilion with a painted pony carousel (on display at the Smithsonian for many years in its later life), roller rink, and Olympic sized pool with exhibition style diving platforms, Rock Falls, as it was aptly named, had long since lost its appeal for summer resorters and was all but left for the squatters.

Twenty years past it's heyday, The Falls was now 'home' to a year-round but transient collection of 1960's leftovers; Liberal Arts graduate students, admonished or expelled college professors, twenty or so wandering black dogs from the same lineal extraction, and a bearded and ponytailed platoon of Vietnam Veterans grazing on the GI Bill. Throw a handful of tattoo-branded 'Old Ladies' (biker chicks whose 'Old Men' were either on the lam or in the 'joint' with no actual motorcycles anywhere to be found), the occasional even smaller town runaway, and garden variety of trailer park drunks-- throw them all into the mix and you have before you, the afore mentioned neighborhood of the $4,000 house I once had the chance to buy.




My National Direct Student Loan for $4,500 had just arrived in the Financial Aid Office when the idea was first proposed to me by Charlie B. (He kept his AA designation although he had long since drifted from the pack, as it were). I was the only person with 'real money' in a two mile radius. The check, intended for living expenses, was earmarked to get me through my last semester of graduate school. Charlie B. had a better plan in mind.

He owned two cottages outright and grossed $240 a month in rents from his waterlogged purple corner of the Butler County Monopoly Board. I paid $80, my housemate paid $80, Charlie's housemate paid $80 and Charlie himself, lived for free. We as tenants, were permitted to keep any 'sublet rents' i.e. sofa sleepers ($40 a month), sleeping bags on the living room floor ($30 a month), and outside hammock sleepers ($15 a month in fair climate months). We were also to supply all alcoholic beverages for both houses and Heaven forbid, we ever ran low or actual God forbid, out. And thinking back, the houses themselves were barely habitable with no perc, dried-up water wells and overflowing septic tanks. We showered (most of us anyway) on campus in the Field House. Still, the rent was cheap and the property 'cash flowed' if paid off in full. My first student loan re-payment wouldn't be due for at least 18 months, he reminded me. My landlord might have been a lush but he could count other people's money with the best of them.


Charlie had been on 30 day roar when he came busting into my bedroom with his property deed in one hand and a bottle of Yukon Jack in the other. Again...Bukowskian proportions, I kid you not. He had done the math. With future rents and 'sublets,' I'd recoup my investment in less than three years while living free and clear myself. When I asked about fire insurance he thought for a second then replied, "You don't pay anything for that. No one will insure down here anyway so you make money there, too. You see...maintenance free..."

Maintenance free. $4,000. Renters. Sublettors. Oh, and $500 left over..."for liquor," he suggested. "We'll throw a shindig." He did a little jig jabbing the folded document about my head and thin air like a drunken shadow boxer. I felt like I was being pressured into signing over my last educational stipend. We drank from the bottle. And the pressure was soon on an equal plane with any time share pitch I've experienced since. Even the Mexican cab driver who shanghaied my wife and me to the Mayan Palace in Cabo had nothing on Charlie B. with a snortful of Yukon. I finally agreed, in principle, to think about it while he slept off his bender. Three days later he was back.

"I bought a car instead," I told him. "A 1972 Buick Riviera." This was 1981 so needless to say, it was a junker and perfect for the daily trip up and down the rutted road out of The Falls to get to town and back. I later figured each trip took $10 of value off my vehicle and in a matter of months I would have probably done better with the house deal but such is life and its lessons learned.

I gave him a case of Guiness Stout to make peace and an envelope with $200--two months rent plus my end of the 'sublet' for the current month. He looked like he was going to cry, then hit me, then hug me, then he left and never brought it up again. Honestly, I think he forgot the whole conversation and was just pleased with the booze and by the end of the semester I was gone forever anyway, never to return...

Except twice. Once, fifteen years later I decided to drop by The Falls to see who might still be around. Charlie was long gone, too and my BMW, up to its wheelwells in mud and rocks, had to be towed out of the park. Great, great, great grand descendants of black dogs circled me like a trapped animal, almost sensing I was out of place there with my Fortune 100 job and failed German technology. The house was still standing. A squatter from the next door cottage told me he heard that 'Charlie B.', a rural legend by now, lost both places in a poker game when he was drunk. Not sure how much faith I put in squatters but it made sense to me. Bukowski himself hadn't done much better if you think about it. And if you don't know who he is then you've read and drank way too little in your lifetime. Think Mickey Rourke in Barfly.

Five years later, passing through that part of the state on a business trip, I took the exit ramp off I-79 north on a whim, and returned once more--this time in an SUV. Dogs were there. House was gone. Burnt to the ground (not for the insurance, to be sure). I did the math. Even without the 'sublet' dough, over the years it would have probably been an okay 'buy and hold' seeing that soon after, I abandoned the Riviera on a Pittsburgh bridge when the front left wheel fell off. The $10 depreciation schedule had finally taken its final toll and expired in the middle of rush hour traffic. And while Charlie B. may not have been much of a landlord or an actuary, or even a poker player, he was a pretty damn hard closer and if nothing else, had found a way to collect rent and drink for free.

Geno Petro

Thursday, April 26, 2007

The 'Hybrid Realtor'...(revisited)


I wrote this in a snowstorm late last December and posted it just before my wife and I vacationed in Cabo so to be honest, I'm not sure it got read by anybody. My statcounter only showed a dozen or so viewers for that entire week so now that readership has soared, I'm re-posting the piece. Four months later and deep into the heart of the Spring Real Estate market in Chicago, it's as pertinent and timely as ever.

There has been a lot of discussion lately in our Brokerage about the evolution of the Real Estate Agent in Chicago (or across the nation for that matter)..ie...The Hybrid Realtor. Eric Rojas alluded to this in a previous post and I'm pretty sure our Broker/Owner Joe Pinto came up with the monicker during one of his many sleepless nights planning the future. Our agency is as much 'think tank' as it is Real Estate sales I believe, and this is one of the great freedoms associated with working in a boutique environment

My first experience with the traditional Real Estate process was on an out-of-state 'house hunting trip' in 1984 when I submitted an offer on a Baltimore rowhome for $84,000. I called the listing agent out of the Sunday paper and she agreed to meet me that afternoon at the property. She was a 'veteran' Realtor to be sure, and as she pulled up in her big fat Cadillac, dressed for church, fifteen minutes late and talking a mile a minute, I knew at once that I had already lost any little control I might ever have over the entire situation.

An hour later, trapped in her office (she insisted we take her car) I signed a full price contract. Less than 24 hours later I participated in my second and third Real Estate experiences--killing a deal (I'm certain the Realtor had a mini-stroke before my eyes) and then promptly submitting an offer on a similar rowhome in the same neighborhood for $10,000 less from a F.S.B.O. down the street. I ultimately backed out of that deal, as well---and it really goes without saying but I'll say it anyway; there were more than a handful of people that were hating me pretty badly by the end of that weekend, including my wife at the time and even myself on several different levels.

The thing is, the Realtor wouldn't let me look through her MLS book. I "wasn't allowed to," she scolded, clutching it tightly to her chest as if it were a purse and we were walking through an unlit alley. It's very funny now as I think back on the whole scenario. I was attempting to make the biggest purchase of my life from someone I hated, who apparently thought little of me as well and didn't even represent me. And then I took my newly found negotiating knowledge immediately into another deal where no one was represented and it ended just as poorly, if not worse because the second guy didn't want to give me my earnest money check back.

I subconsiously blocked out the next seven years of my life I believe, so I'm not really sure how it all even ended except to say I did wind up buying and selling from an array of Realtors over the next 15 years until 'Corporate America' quit transferring me around the country and abandoned me in Chicago where I'm presently enjoying the best years of my life.

My point being, I learned exactly how I didn't want to be perceived as a Realtor. I've met a lot of them. Almost all of them are what my Broker would refer to as traditional agents. Traditional agents are fine...I just don't want to be one. They tend to approach the business the way it was shown to them and it's...well, traditional--mailers, reliance on print advertising and assistants, an unhealthy dependance on referrals, magnets at Christmas, a lot of 'in the box' sales talk, etc. I am fortunate to have entered the business at the same time Technology entered the business. So let me make a short list about how I view myself and aspire to be, a Hybrid Realtor. And again, this is just my take on the subject.

*I traded my big fat S500 Benz for a Mini-Cooper after it literally cost me $100 to fill the tank with fuel. (I't's the coolest car {the Mini} I've ever owned and I've pretty much owned them all). My wife, being the great supporter that she is, promptly traded her Jag convertible for an X3 BMW SAV a week later. The Jag was a hog as well.

*I cancelled my Brooks Brothers credit card as there is nothing in the store that suits my fancy these days and while I still dress daily for work. think Italian--sans neckwear.

*If I were informed tomorrow that I could never spend another cent on print advertising or 'mailers' I'd probably just smile.

*If my connection to the internet gets interrupted, my PDA crashes, or my GPS navigation goes screwy in the suburbs, I immediately lose my mind---just kidding about the suburbs because I never go there although I hear it's quite nice.

*I strive to have 80% of my business come from people I do not know and have never met because everyone I do know is either a Realtor, or becoming a Realtor, or dating/marrying into a family where someone (other than me) is a Realtor. Several of my past clients have even become Realtors. In other words, the future for me does not lie solely in referral business even though I still receive them on a monthly basis.

*I do not need a personal assistant because the 'back-end' of our website is so powerful and advanced (in conjunction with my handheld devices and real time virtual access), it serves as my assistant.

*No more clunky 'sales talk' or catch phrases will pass through these lips (not that they ever much did): "I want to earn your business," "Unbe-liev-able" and all those other Real Estate 101 sayings that went out with the 'double windsor.' The consumer is over all that gab. (besides, its so un-hybrid!)

Because of my Blog and Web Page I'm open 24 hours a day, every day of the year, every remaining year of my life.

And finally, I realize that the general public has as much access to the Real Estate world as they care to have. I do not need to 'clutch' my knowledge like a purse in a dark alley. (And yes, my sister bought me a 'man purse' and what of it? Anyway, it's not the purse but what's on the inside that counts!) 'Transparency' is the way of the future. It's a wave I choose to embrace. It's a wave only The Hybrid Realtor will be able to ride, the way I see it.


image by science.uwaterloo

Geno Petro

Tuesday, April 24, 2007

Needs and Wants, My Love...


Okay. This is a mouthful but I'm going to try and spit it out. It's a concept my Managing Broker Joe Pinto, refers to on occasion and in recent weeks, has played out more and more in my own daily routine of showing property in Chicago. The crux of the idea has to do with 'needs' vs. 'wants' in the present Real Estate market. The 'My Love' part, while fairly irrelevant from a Brokerage perspective, is the rational 'icing on the cupcake' from the Buyer's point of view. It's not all spreadsheets and basis points, you know. It's about balance in the marketplace.

Eventually, an overwhelming need to purchase a home just takes over, regardless of the market climate. Example: If I come home tonight and my wife informs me we are having triplets then guess what---I'm going to kick the bejezus out of the father. Ha ha. But really....we'd seriously be looking for a bigger place. Regardless of interest rates, regardless of 'bubbles,' irrespective of whether it's a Buyer's market, Seller's market, rain, sleet, snow, yadda-yadda, onomatopoeia...or whatever...we are sooo moving. And when we find the perfect place, even if I'm not being stabbed to death in a brutal negotiation by the Seller and the Listing Agent, we're paying the price. It's a need thing. Oh yeah, we're going to love it too. All five of us-- Then on holidays there are her parents and my parents; plus her son and his girlfriend; and my daughter and ...Wait!... I think I may have to move anyway.

By the same token, if the Witness Protection Program sends a Western Union saying I have to move to Fargo, North Dakota (also a Ha ha) by Tuesday then guess what again? When the Government calls...we run. Condo For Sale On Wolcott. Priced For Quick Sale. Dog and Cat Included. Best Offer Over Maximum Pain Level Accepted. Jimmy H is buried at...("I'm spilling my guts here to make this deal work....Would you care for a cool beverage? May I take back a second mortgage for you? ...There's a trap door in the basement and plenty of cash in the freezer...")

And again, again. It's a need thing. Want isn't part of this particular picture either. Want is a lesser force of Nature in Real Estate. It's an after dinner drink, that unnecessary 'must have' handbag in the Prada window. It's the Harley I never get. Need is the triplets I don't want but have to deal with.

Where I have seen a lot of want in the past year or so has been with Sellers with no sense of urgency or need to move in the first place. A lot of overpriced Listings on the market. A lot of 'testing' the price points to "see what happens." A lot of inventory. A lot of want. Not a lot of Buyers. But as my Broker is quick to add, "The demand for housing doesn't go away. It just gets pent up." And of course, I concur.

The way I see it, one may be able to squeeze an extra year out of a beat up Bimmer or 'pass' on a new pair of Ferragamos for one more season but eventually 'need,' ('want's' bigger brother and a greater force of Nature), is going to step in and take over the situation. Then, in due time, a funny turn of events begins to occur.

Some of the inventory, the best of the best, gets scooped up quickly. Another portion falls off the market permanently as people stay put. ('Test' results are in. No 'social promotion' this year for the house with the bad kitchen and beat to hell bathrooms.) Buyers jockey for the next 'best in show' Condo, and Multiple Offers become more commonplace. Property starts selling with quicker Market Time and people start surfing the Real Estate websites at work and attending Open Houses on Sundays and Saturdays. The inventory 'back-up' calves like a glacier so life can move forward as the housing cycle regains its momentum until the next global housing cooling scare. The circle will not be unbroken and when it does, there's an Inspection credit at Closing for the Buyer.

Need and Want I submit to you dear readers, form this elliptical cycle of Housing. It will most always be this way in a free enterprise system, I believe. Need is the dinner, the meat and 'taters. Want is the dessert, the creme de la creme brulee. And Love....love is never having to say "I lost you... in a multiple offer."

Geno Petro

Friday, April 13, 2007

We Don't Need More Dots...


"We don't need more dots..." I hear the red-faced, stock picking pundit scream into the CNBC camera as I glance up from my laptop. Late afternoon cable TV is how I home school myself on these occasional slow days in the Chicago Real Estate bubble, correction, vacuum, surge or whatever they're calling it this week in the media.

"Booyah!" counters the caller from Delaware.

"And a great big 'Booyah' to you, my friend."

Booyah
. What a stupid word. Wikipedia defines it as a catch phrase of 'accomplishment' coined by ESPN personality Stuart Scott, but the only person I've ever heard say it is the vein popping bald guy in rolled up shirt sleeves I'm watching now, pacing around a studio sound stage of cow-bells, flat screen monitors, and bull horns. Him and of course, all his booyahnic buds.

Today, 'BooYah' is dressed like a Scotsman--tam, kilt, et al. Someone blows a bagpipe off-camera as the next caller inquires about a small cap 'Dog' (bad stock, apparently) with fleas (too many troubles to mention). BooYah starts pounding his desk with a rubber golf club..."Bad dog, bad dog..." More bagpipe then a commercial break for Cialis--the one with the 4 hour warning. Double...no, quadruple booyah.

I glance back down at my own monitor and peck a few more keys before hitting Save and starting a new Word Doc.... "Things I say. "

I make a quick list of my own favorite sayings--phrases I'd like to think I'm known for, whether self-composed or simple perpetrations of things I've heard in passing and improved upon--sayings I've lent my own voice to or, twisted around to make my own. And since I'm big on analogies, metaphors and such (requires less communication skills than making the actual point), I often weave these verbal delectations into my Real Estate conversation when discussing a property. So in no particular order, with appropriate annotations and due credit following, I submit to you:

"Start with supermodel, and work backwards." (On showing the best property first but can really apply to anything if you think about it.)
CREDIT: Half mine, half someone elses.

"No matter how beautiful she is, there's somebody somewhere... who's sick of her." (On questioning why such a lovely home is up for sale, among other more trivial observations I've noticed on the E! Channel.)
CREDIT: Someone else.

"A third are coming, a third are going, a third are making up their minds." (On why there is such a lack of Agent/Broker loyalty in the Real Estate business i.e....Agency 'ship jumping,' so to speak.)
CREDIT: Some Recruiter I used to know.

"You can recruit yourself out of any situation." (On re-building a floundering Real Estate Brokerage i.e.... Sending higher commission split 'life rafts' for those who already jumped or are considering treason.)
CREDIT: The Recruiter who took the other Recruiter's place.

"Everyone thinks their baby is the most beautiful child on Earth...and their house is worth more than it is." (Speaks for itself, really.)
CREDIT: Me. I said it first.

"Life is short. You're dead for a long time." (On just 'going for it.')
CREDIT: An annonymous Madison Avenue copywriter and I think perhaps, God originally.

"Don't push the Publish button after midnight." (On Blogging and trying to be funny at the end of a long day in the Chicago Real Estate business.)
CREDIT: My wife.

And finally...the newest addition to my lexicon of Genoisms....

"We don't need more dots...we need to connect the ones we already have!" (On most anything, anywhere, anytime these days...in my opinion.)
CREDIT: BooYah... and the boys.


Geno Petro



Wednesday, April 11, 2007

2323 W Montrose...SOLD IN 21 DAYS

It lives like a Single Family House. This Fitsgerald designed Duplex sits directly across from Welles Park in Chicago's Lincoln Square neighborhood. Original blueprints allowed for a 4 bedroom layout but the current owners opted instead, for a massive family room on the lower level. Beautifully appointed, this 2600 square foot Condo shows like a model---no...a supermodel!
Notice the all brick exterior accented with limestone and the west facing wall of windows that flood the unit with afternoon light. Chef's stainless steel kitchen appliances, maple cabinets and thick granite make entertaining a joy and preperation convenient. Look out the glass sliders to Welles Park or step out onto the balcony for a nightcap.
Offered at $574,900 this three bedroom, three full bath luxury Condo gives you space to live and room to grow. Of course, garage parking is included. Just steps to the restaurants and shops of Lincoln Square, the Chicago River, the Brown Line and Welles Park, 2323 W. Montrose is one to place atop your list on Open House Day---which, by the way, is this coming Sunday, April 15th from 1-4PM.... Or call Geno anytime for a private showing: 773-975-2130



*Click here for the Virtual Tour *


Geno Petro



Monday, April 02, 2007

Things You Don't Forget


The other morning during my daily walking (dragging) of the hound we noticed a new development on our block. It first caught the eye of my pooch as he put on the air brakes nearly yanking my arm from its socket. It wasn't so much a development really, but more of a twist--an evolutional 'baby step' for the neighborhood; a precursor of events to follow as residential life in the city plays out its hand--foreshadowing, at the very least.

While we technically live on the geograhic cusp of Lincoln Park and West Lakeview on Chicago's North Side, a new multicolored banner hanging from the lamp post (as they typically do) at the corner of Wolcott and Diversey has now declared our tiny annex of the city, Hamlin Park Neighbors. Some rogue neighborhood committee must have assembled its own group of condo-owning infidels while my wife and I were vacationing and captured the four block area through some back street ad hoc maneuvering our great city is so famous for. Last I looked, the Hamlin Park contingent had set up camp just south of Wellington but lacked the residential manpower to forge across Diversey. But this is just background music with perhaps, a few Aldermanic overtones.

The real story here is what first caught the eye of my dog on that brisk morning. It wasn't the hanging banner at all but rather, what we both witnessed coming toward us down the sidewalk. The banner itself was merely symbolism.

A young boy, maybe four or five years old, clad in helmet, elbow pads, knee pads, safety gloves, goggles and protective mouthpiece---patient 30-something father to his side with hand on shoulder--came weaving toward us on his virgin bicycle flight-- sans training wheels. Again, last time I looked, his mother was pregnant--with him. We both watched on.

I thought back 45 years to my own inaugural two wheeled mission, my own father's hand on my shoulder, with Salem in mouth and hint of Mennens aftershave lingering in the August air, guiding me with patience (yeah right) along. I think I was barefoot with no shirt in swimming trunks. It was my fifth birthday. Thinking back as I looked down at my attentive companion, that was many dogs ago.

What hasn't changed and what my point here really is---is...its 'five years and you're out' when you live in the city. The next steps for this young family down the block (mom is pregnant again) and I'm sure they already know some of this, is the For Sale By Owner sign on the black iron fence, followed in short order by the sign of my Brokerage most likely, then off to Lake Forest or Wilmette or some other bucolic Northern Chicago suburb for the next 15 or 20 years in a series of Center-Entry Colonials, before venturing back for the final city swing until finally, permanent retirement in a deep Southern state.

When one first witnesses the heavily armored five year old, father to the side, attempting to navigate the narrow sidewalks of Chicago on a mini mountain bike, one just knows a North Shore cul-de-sac with a more equitable (school district) tax basis is the next destination. Even my dog Elvis, with his two or three track mind, has an inkling that change is near for these young Hamlin Park Neighbors. Thinking back, I too lived in a fresh new house and attended a different, better school district by the time second grade rolled around. The main difference is my parents didn't vote to change the name of the neighborhood before they left.

image by all poster

Geno Petro