Yes, You Can Own A Home

Yes, You can own a home in 2017.  Owning a home is one of the largest purchases you’ll ever make. Although it might feel overwhelming it doesn’t have to be. Watch this short video on the home buying process.

The steps to owning a home include:

1. Getting approved for a loan

2. Working with a licensed professional that can explain the process and help with the hard decisions.

3. Select the area you want to live in. Before choosing the city drive around and check out the community, call the school district and get the school score breakdowns, call the city to find out what’s offered. Is a community swimming pool important to you? Do you want public transportation, shopping, a prairie path? Think about what you really want near your new home.

4. Begin your home search. Download my free home search app that gives access to active listings in the entire United States – Click here.

5. Once you find a home we will write an offer based on current market data. A home is only worth what someone is willing to pay. We will use current sold properties to determine a good asking price.

6. Once the offer is accepted you’ll hire a licensed home inspector. This takes about 3 hours. It might seem long but it’s the best way to understand what you are purchasing. A resale home isn’t perfect.

7. After the inspection issues are resolved you’ll make sure all necessary paperwork is turned into your mortgage company. Your loan officer might ask for the same document more than once.  Please just resend it and also stay away from big purchases. That could harm your purchase power and result in a loan denial.

8. The mortgage company will order your appraisal. Once the appraisal is completed and the underwriter has all paperwork we wait for a clear to close and your confirmed closing date and time.

9. One or two days before closing we have a final walk-thru of the home.

10. Finally, we meet a the title company to close your home purchase. This is different in other states. In Illinois we close at the title company location.

Ask me how I can negotiate your down payment today. Contact me now

Someone Say House Party!

Earlier today I shared statistics on DuPage County and how inventory is low.   In DuPage County ReSale of homes are up 4.5% in February 2013 from February 2012 and New Construction is up 21.5% in February from 2012.   This is great news for our local market.  Check out What BofA is saying about the entire U.S.

According to Bank of America Corp., U. S. Home prices will probably rise 8% this year.

click to read the entire article.

Housing Information :: Bank of America raises forecast for gain in home prices.

http://www.bloomberg.com/quote/BAC:US

 

Despite the Cold Weather Buyers Still Want to Buy Your House

Northern Illinois still has considerably cold weather compared to last year when we were in the 80’s on some days.  Although the weather isn’t where we would like it buyers are still buying homes.  However, these buyers are finding less to choose from.   In February of 2012 there were 4,016 single family homes for sale in DuPage County and 2,728 attached homes for sale.  Last month, February 2013, there were only 2,822 single family homes for sale and only 1,607 attached homes for sale.  A decrease of 29.7% for single family and 41.1% for attached single family.

What does this mean for our market? Yes, we are in a sellers market.   Depending on how accurately an agent listed a home the property could sell relatively quickly.   The property may also end up in a multiple offer situation.  For every home I’ve listed in the past 6 months the home had multiple showings and went under contract almost immediately.

Home values may not be where we want them but we’ve definitely started the up turn for  the DuPage County market.  For statistics on your specific city contact me today.  Email, facebook, LinkedIn or twitter.    .  carrie.bey@bairdwarner.com

Click to see the Median Sales Price for Du Page. February 2013

Median Sales Price for Du Page County October 2012

The Median Sales Prices are in for DuPage County.  October 2012 Single Family homes Median Sales Prices are $255,000.  Attached Single Family home Median Sales Prices for October 2012 are $120,000.

Single Family homes show a 6.8% gain from October 2011 to October 2012.  Attached Single Family show a 3.2% gain from October 2011 to October 2012.  Nice to hear that we are on an upward trend.  We aren’t moving up in pricing like homeowners would like.  However, an upward trend is definitely better than a downward trend.

Click for the chart.  Median Sales Price for Du Page.

City of West Chicago, Illinois Hit Hard by Storm July 1st, 2012

Around noon on July 1st DuPage County was hit hard by a storm with winds over 100 miles per hour.  The storm only lasted 40 minutes or so.  It’s unbelievable what a storm can do in such a short period of time.  At the time of the storm I was in Belvidere Illinois holding an open house.  I could see storm clouds but the storm never hit Belvidere.  My husband told me to take my time coming home because  the weather was so bad.

As I was driving down Route 59 I could see how hard the storm hit areas like Bartlett, West Chicago, Carol Stream, Wheaton, Glen Ellyn, Winfield and Warrenville.  Route 59 and Stearns was the beginning of where some of the damage occured.  Power was out from Stearns to Batavia Road in Warrenville.  Driving through these cities was slow go. Every stop light was out. The only places that had power were the businesses with generators.  When I made it home I couldn’t believe what I saw.  It had to be a tornado.  Trees and power lines were down everywhere.  My kids said it was like a nightmare.  Later that day we took a trip to Reed Keppler Park, a 5 minute walk from my house, and we viewed the ABC News Van getting ready to video or shoot live around 10pm.  We couldn’t walk because the power lines were down.

ABC News says you can go online to check the Outage Alerts from Commonwealth Edison. www.comed.com.   If you don’t  have power take advantage of the local Starbucks, Panera, McDonald’s or anywhere you can get online.  Check on your neighbors and if you are looking for a place to cool off go to the mall.  If your home is on the market and you are out of power make sure you empty the icemaker, take out the clothes in the washing machine and hang them to dry.  Let the listing agent know to put your home temporarily off the market until the power comes back on.

As of today, around 5:30pm Power for many is still out. We were without power from 12:30pm until 3:40am on July 2nd. Check out the photos from behind the Willow Creek Townhomes and the down trees at Reed Keppler Park.  If you need help don’t hestiate to ask your neighbors and remember for all emergencies call 911.

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