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Buying a home is one of the biggest purchases you will ever make. So, it should come as no surprise that before you seal the deal you will have to sign an intimidatingly large stack of closing documents. To keep you from feeling in the dark during closing, a recent article from Zillow breaks down the three most important documents you will sign before you get the keys to your  home. Those documents include the settlement statement or “HUD,” the promissory note, and the deed of trust. Because … [Read more...]

Acknowledging its limited ability to assist taxpayers with their questions this tax season, the IRS is once again teaming up with the Free File Alliance to make free tax software available to certain taxpayers. The service, which launched on Friday, will begin transmitting electronically filed returns to the IRS today. Taxpayers who made $60,000 or less in 2014 qualify for Free File. That covers roughly 70 percent of Americans.  According to Tim Hugo, executive director of the Free File … [Read more...]

After struggling for years in Canada, Target will close its doors north of the border. America’s second-largest retail chain is set to close all of its 133 retail locations in Canada, resulting in a loss of more than 17,000 jobs.  According to Target officials, the retailer’s Canadian operations were not expected to be profitable before 2021. In a CNN Money article Target’s CEO Brian Cornell said, "This was a very difficult decision, but it was the right decision for our company."  To help … [Read more...]

After failing to raise the $100 million it needed this week to keep creditors at bay, RadioShack is reportedly preparing to file for bankruptcy. According to a Wall Street Journal report, the struggling electronics retailer is bogged down with 5,000 retail locations that are so close they are competing with each other. Compounding that problem is a significant decrease in brick-and-mortar sales as buyers flock to various online retailers. Since last March, RadioShack has tried to close 1,100 … [Read more...]

Two Chicago tech entrepreneurs are set to launch the world’s first online real estate market exchange exclusively for cannabis growers. HerbFront, which will go live the first week of February, will help legal growers of medical marijuana identify potential locations that are properly zoned for growing and distributing marijuana.  Matt Chapdelaine, one of HerbFront’s founders, says now that medical marijuana is legal in 23 states the service is timely and necessary. Most dispensaries and growing … [Read more...]

Brace yourself for one of the rockiest tax seasons in more than 10 years. That was the news delivered to Congress this week by National Taxpayer Advocate Nina Olson. With an 83 percent cut in the IRS’s training budget, the agency’s employees are less equipped than ever to help taxpayers. Olson complained in her report to Congress, “We don't think it's acceptable for the government to tell millions of taxpayers who seek help each year, in essence, 'We're sorry. You're on your own.’” But, that is … [Read more...]

With access to tons of housing market data, Zillow is like the E.F. Hutton of the real estate industry. When they talk, people listen. Later this month, the company’s CEO and Chief Economist will publish The New Rules of Real Estate, a book that highlights secrets both homebuyers and home sellers could benefit from reading. In an article about the book, Fortune magazine gives readers a sneak peek at some of the new rules. Among the advice is a warning to avoid using the word “unique” to describe … [Read more...]

If last year’s trend holds true, single women homebuyers will account for 21 percent of all home sales this year. Without a partner to help them share in both the expense and responsibility of homeownership, it is even more essential that potential solo homebuyers weigh the decision carefully before signing on the dotted line. A revealing article from HGTV shares insights and advice from several single women who have purchased a home on their own. Among the helpful tidbits, one solo homeowner … [Read more...]

Low gas prices nationwide have rekindled conversation in Congress about increasing the federal gas tax. The current tax of 18.4 cents per gallon has remained the same for two decades. With average gas prices nationwide sitting comfortably at $2.20 per gallon according to AAA’s Daily Fuel Gauge Report, a group of Republicans in the Senate are backing a proposal that would increase the tax by 12 cents over the next two years. The increase would go to pay for transportation infrastructure projects, … [Read more...]

AJ LaTrace of Curbed Chicago reports that a vacant lot on Milwaukee Avenue may soon be home to 40 new residential units and more than 12,000 square feet of ground-floor retail space.  In December, real estate developer Todd Braun of Dearborn Developers, LLC submitted zoning application paperwork for his planned six-story Logan Square building which will be conveniently located within walking distance of the California Blue Line station. Details and blueprints of the proposed plans can be … [Read more...]