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July 27, 2016

503 Shabbona Trail

New home for sale in Batavia.  Gorgeous remodeled ranch on a private lot.   Fabulous new kitchen, beautiful master bath, and a full finished basement. $296,000

Posted in Listings
July 26, 2016

37w523 Grey Barn Road

New listing in St. Charles.  Gorgeous 1.7 acre lot with beautiful pond views. First floor master bedroom, 4.1 baths, large updated chef's kitchen, luxurious master bath, and a full finished basement. $699,900

Posted in Listings
July 22, 2016

Emotional Mistakes To Avoid When Buying A Home

Realtors state that that emotional mistakes are very prevalent among home buyers today, especially when buying a home for the first time. First time buyers usually are lead by their feelings rather than weighing the "pros and cons" of each home and end up paying more than they should for their "dream home."

Buying a home is one of the biggest investment that a person will ever make. While in the process of buying a home, buyers should not get too emotional with any one of their choices. This will help them to make a better decision, and the selling agent should supply available comparable homes and sold homes for the last six months. An appraiser looks at the square footage, amenities, lot size, and stays in the same school district to come up with the correct value. Buyers should take the same approach and not let decorating, cuteness, or staging influence their final decision.

If you fall in love with one of the first homes you look at, continue to look at many more to compare the location, features, price and school district. Use your selling agent's knowledge of the market to guide you through the pluses and minuses of each home. Comparing properties on an spread sheet can also help you to see them more realistically. In addition, it will also help you to see the features, square footage, baths, finished basement (or lack of), garage(s), taxes, lot size, and amenities...

The flip side of the coin in buying a home, is the failure to make an offer because you are constantly looking for a better more perfect home at an amazing price. Agents are not capable of predicting what will come on the market in the the future or what someone will "take" for their home. Circumstances constantly change for sellers and buyers-- rates can rise or fall, new homes are available on a daily basis, and sellers reduce their homes to keep up with other active listings. The best thing to do, is have your agent give you a good understanding of the values of the homes within that area(s) that you are interested in and then make a reasonable offer after going over all the sold comparable homes in the last 6 months (that is what the appraiser will do for your appraisal).

Think you have found the "perfect"l home? A house that has everything you have been looking for and in a location that you love? Make sure you and your agent go over all the "pros and cons" of this property, what you will have to do to fix any issues, and the ease of resale when you have to sell. Is there a design flaw? No basement when all other homes in the area have a basement? Consider all of this before making a bid on any home, so that you will not write an offer that is too high...Have a strategy with your agent as to how they will present the offer and what the terms for countering will be. Do not bid insultingly low---better to bid closer to what you will pay and not come up too much, than anger the sellers...That will not help in the negotiating process or during the inspection period when asking for items to be fixed. The other side of bidding, is not to start too high, as your home will have to appraise for a mortgage. Many states add that clause to the contract, "that the home was appraise for purchase price or higher," as one of the conditions of the contract. A home is place to live and enjoy life, but it is also "somewhat" of an asset or business decision. Be smart with your bids and do not pay more than you should because you love the front porch!

Lowballing Your Offer

There’s no problem in buying a house at the lowest possible price. However, lowballing the owners can actually backfire. To begin with, you might lose out on the home to higher offers. Secondly, owners might just decide to completely reject your offer. Even if they’re willing to negotiate, they might be so annoyed to an extent that they play hardball as well. This makes the whole process antagonistic and lengthier. Frankly, you will have the best possibility of a getting a good price if you choose to work with real estate agents to compare that house with other recent sales in that area so as to determine reasonable offers.

Failure To Calculate The Cost

According to the National Association of Realtors, most first-time buyers usually overestimate what they can actually afford. They often focus only on monthly mortgage and down payment when deciding the amount that they can afford when buying a new home. They might not even know more about the closing costs or even the amount they’ll have to pay for insurance, taxes and maintenance. The solution is getting a pre-approved mortgage loan so that you will know the amount that the bank is willing to loan you. In addition, it’s a good idea to talk about these costs with real estate agents. They will be more than happy to help you understand the taxes or extra homeowner's association fees that you might face when buying certain properties.

Not Checking Out The Mortgage Options

Did you know that there are several mortgage options available, more so for people buying a house for the first time? Most sellers ask for 20% down payment. However, if you qualify for loans, you might be able to make a smaller down payment. If you are a vet you might to might want to consider applying for the Veteran's Home Loan.

Not Doing Your Research

Do you think that you can make a good deal on a short sale? Are you ready to offer over asking prices for the home you love? Those might be good decisions only if you have carefully researched the markets within that area. Otherwise, you might make a purchase that you’ll regret later. Make sure that you have looked carefully in the neighborhood. Ask your real estate agent whether this house has been on the market for a while and whether other offers are available. Most importantly, ensure that you ask for a thorough and professional inspection of the air conditioner, roof, plumbing system, electrical system as well as the foundation. You certainly don't want to buy a house that will turn out to be a money pit later.

Ensure that you work with professional and experienced real estate agents so as to avoid these emotional mistakes when buying a house. Real estate agents can help you to avoid emotional mistakes such as offering too low or too high bids, being unrealistic regarding your expectations about the perfect price or perfect home, misunderstanding the total cost of home ownership as well as getting a house that requires more work than what you expected. Ensure that you get help from real estate experts so that you can buy your dream house without regrets.

Posted in Housing Tips
July 7, 2016

36w610 Lancaster Road

Large St Charles home on a gorgeous 1.25 acre lot with a beautiful in-ground pool.  Huge custom kitchen and an awesome full finished basement with a full bath.  $650,000

Posted in Listings
June 30, 2016

63 Mckinley Street

New home for sale in St Charles IL.  Amazing location close to both St. Charles and Geneva.  One of a kind hillside ranch on a beautiful wooded lot.  4 bedrooms, 3.1 baths, open floor plan, large kitchen, huge master suite, and a full walk-out finished basement.  $419,900

Posted in Listings
June 24, 2016

36w843 Red Gate Court

New home for sale in St Charles IL.  True 5 bedroom home on a great 1.24 acre lot.  Gorgeous updated kitchen and huge full finished basement.  Large private lot.  $549,900. 

Posted in Listings
June 20, 2016

39W394 Osage Drive

St Charles Home For Sale With A Large Private Lot & Fabulous In-Ground Pool.  Gourmet Kitchen And 3 Full Baths.  

$400,000

Posted in Listings
June 13, 2016

3218 Charlemagne Lane

New listing on the east side of St. Charles.  3-car garage, open floor plan, huge master suite, full finished basement, spa, large deck, and fabulous private yard. $419,000

Posted in Listings
June 11, 2016

918 Oak Street

Gorgeous Sugar Grove Home On A Fabulous Private Lot.  Great Chef's Kitchen, Huge Master Suite, Open Floor Plan, And A Full Finished Basement.  This Home Is Like New.  $400,000.  

Posted in Listings
June 7, 2016

936 Willow Lane

Beautiful home backing to Jelke's Creek and Wildlife Corridor.  First floor master, luxury master bath, 2-story gourmet kitchen, and full finished basement. 

$545,000

 

Posted in Listings