Realty Executives Midwest
On July 21st, 2020, the Darien Lions Club, in collaboration with the city of Darien, held a ceremony at city hall in honor of Deneen Ruffolo, recipient of the Darien organization's 'Humanitarian of the Year 2020' award.
Joe Marchese, Mayor of Darien, designated Friday, July 24th, 2020 as 'Deneen Ruffolo Day' in Darien, IL. Lions Club President, John Pearson, presented Deneen with a replica brick paver to be placed in Lions Patio at Darien Community Park.
The Humanitarian of the Year award is bestowed by Darien Lions to honor efforts of community members in delivering charitable services. Deneen's selfless efforts assisting Darien Lions programs earned her this prestigious award. Her invaluable assistance with Lions Food Baskets program, procuring & wrapping thousands of gifts ensuring a Merry Christmas to over 250 families & their 600 children, is priceless. She spearheads organizing and wrapping over 4,000 gifts every year for families in need, something she does so thanklessly and with a bright smile on her face, year after year.
Greg Ruffolo, her husband, comments "Deneen taught our children (and now grandchildren) how to properly treat others, to always be kind, not speak poorly of others but rather find good in them, and to help by assisting others. In the end, that is the real reward for her."
Congratulations, Deneen, for this wonderful accomplishment!
Here’s how to price your home to sell fast.
Your home is more than just a bunch of rooms under a roof. It’s the space where you watched your daughter take her first steps, hosted Super Bowl parties, and celebrated holidays. Those memories are priceless. But when sell your house, the warm and fuzzies can't factor into the question: What is the value of my home?
You aren’t selling your memories; you’re selling a house.
This is where an agent can help. You’re the one who will set your listing price, but your agent has the expertise and local knowledge to advise on how to price your house so it doesn't languish on the market.
You think your house is great. The problem is sellers often think their house is so great that they list at too high of a price and miss the window of sales opportunity that comes with a new listing.
“By listing too high, you lose your most important leverage and timing because it’s new,” says Ali Evans, an agent in Santa Barbara, Calif. “If you overprice it, you miss out on all those buyers.”
The longer your house sits on the market, the less likely you are to get your asking price. Because buyers expect there’s a deal to be made on a house that’s been on the market for months.
“If something doesn’t move in the first 30 days or so, then people start thinking that they’re not going to be paying full price any longer,” Evans says.
Bottom line: Listen to your real estate agent about home value, because she knows how to price your home to sell fast. She's looking at all of the comp prices and knows what the competition is like in your market.
You renovated your kitchen after you watched too many episodes of Property Brothers. You looooove the way your reno turned out, because your kitchen is now stunningly modern, as kitchens on HGTV are. Everyone else will love it too, right? So you want to push up the listing price.
Don’t be so sure everyone else will pay big bucks for it, Evans says.
“Upgrades that are done in very specific taste can be tricky. Updates that are neutral are going to appeal to a lot of people will see more value,” she says. “But upgrades don’t always equal value.”
In fact, research from the NATIONAL ASSOCIATION OF REALTORS® shows you might recoup 59% of your costs, based on a national average, on a complete kitchen upgrade.
In other words, just because you put $65,000 into your kitchen renovation doesn’t mean you can list your home for an additional $65,000. Your agent can help you assess the market value of your upgrades and answer the big question, What is the value of my home?
Having an idea of what you want to earn from your house sale is fine, because you’re looking at your home as the giant investment that it is. But pricing your home so that you will make a certain amount of money is the wrong approach.
The number you have in your head may not be in line with the market. This is where doing research on the housing market comes in handy, as well as listening to your agent.
“Make sure you understand the logic behind the price your agent suggests,” Evans says “It’s important to not be frustrated that it’s $20,000 below where you want to price it, and understand the thought process.”
Your agent will research the market to see what other houses in your area are selling for. He also knows the market, the inventory of houses for sale, and how your home compares to others in the area.
If you’ve listed the home too high, and you’re not getting any bites, don’t be afraid to do a price correction, Evans says. Lowering the price shows buyers you’re realistic and motivated. Adjusting the price is a key part of knowing how to price your home.
For most people, selling a home is emotional. Whether you’ve lived in your house for four years or 40, you’re attached to it. But it’s important to not let your emotions drive you to price your house for more than it’s worth.
Listen to your agent on how to price your home. His cool-headed knowledge of the market and real estate inventory will be a wiser guide for pricing than your irrational love for the bay window in the living room, the restored hardwood floors, and the way the light shines in your beloved sunroom in the morning.
“Pricing can’t be an emotional thing,” Evans says. “It needs to be based on market analysis, which is why an outside perspective is important.”
When you ask yourself, 'what is the value of my home,' think with your head, more so than your heart.
Article Source: Houselogic by Realtors
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Be the home on the block that bugs run from.
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A lush spot for outdoor entertaining? Great. Perfect. A constant swarm of insects that invade your patio and home? No, thank you. Here's how to keep bugs away from your patio and yard, and from getting inside your house.
Mosquitos may have a tough sting, but they're wimps when it comes to standing up to a breeze. Patio fans can keep your outdoor entertaining space free from mosquitoes (and other little flyers) with the flip of a switch.
And you'll get the benefit of a cool breeze.
While mulching is generally a good thing for curb appeal, overdoing it can cause problems.
It could give cockroaches and ants the ideal environment to nest and find their way into your home, says Brittany Campbell, an entomologist with the National Pest Management Association. As mulch decomposes, it generates heat while providing cover for brooding pests. It can even help mice tunnel into your home.
So keep mulch at least 12 inches away from the foundation — or use inorganic mulch, such as rock or gravel.
But don't go in the opposite direction and forgo mulching altogether, leaving the ground essentially bare. Yellow jackets make their nests by tunneling into bare dirt.
You probably know this one already. But did you know your gutters and downspouts may harbor multiple mosquito maternity wards?
Clean out gutters and downspouts regularly to prevent clogs that can trap water and give those nasty stingers a place to breed.
Also make sure to keep kiddie pools, buckets, and watering cans empty when not in use.
Even your beloved birdbath can be an issue. "Make sure you get one with running water, so you don't inadvertently create a mosquito breeding ground," says Kevin Esperitu, home landscaping expert and author.
Pull out that lawnmower regularly, and keep your garden shears sharpened.
"Ticks like to hide in tall grass and wait for a passing human or animal, while bushes or tree limbs touching the home can provide easy access for pests to get indoors," says Campbell.
Plus having a tidy yard makes for good curb appeal.
Bugs hate strong scents of mint or citrus. Mix plants with those scents into your landscaping, especially near the porch, patio, or deck for added beauty and functionality.
Here are some pest-repelling plants and the bugs that hate them:
Studies show that bugs see dark and bright colors more easily, which is why people are often advised to wear light-colored clothing to repel them. The same principle may work for your home.
Choose lighter shades of paint color for your home's siding, doors, trim, and other features such as fencing, patio, and decking to make it less attractive to mosquitoes.
And if pesky birds are a problem, avoid paint that is the same color as their favorite foods.
Just be sure the paint job fits into the neighborhood and enhances your home's beauty. Bugs are a pain, but hurting your home's value is more painful.
If you live in an area where bats are local, lucky you. Really. Harness their appetite for insects to control pests in your yard. You can invite them to be your permanent guests by building a bat house. According to Bat Conservation International, one small bat can consume up to 1,000 mosquitoes per hour!
Article Source: Houselogic by Realtors
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important?
According to NAR, the Pending Home Sales Index (PHS) is:
“A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.”
In real estate, pending home sales is a key indicator in determining the strength of the housing market. As mentioned before, it measures how many existing homes went into contract in a specific month. When a buyer goes through the steps to purchase a home, the final one is the closing. On average, that happens about two months after the contract is signed, depending on how fast or slow the process takes in each state.
With the COVID-19 pandemic and a shutdown of the economy, we saw a steep two-month decline in the number of houses that went into contract. In May, however, that number increased dramatically (See graph below):
This jump means buyers are back in the market and purchasing homes right now. Lawrence Yun, Chief Economist at NAR mentioned:
“This has been a spectacular recovery for contract signings and goes to show the resiliency of American consumers and their evergreen desire for homeownership…This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.”
But in order to continue with this trend, we need more houses for sale on the market. Yun continues to say:
“More listings are continuously appearing as the economy reopens, helping with inventory choices…Still, more home construction is needed to counter the persistent underproduction of homes over the past decade.”
As we move through the year, we’ll see an increase in the number of houses being built. This will help combat a small portion of the inventory deficit. The lack of overall inventory, however, is still a challenge, and it is creating an opportunity for homeowners who are ready to sell. As the graph below shows, during the last 12 months, the supply of homes for sale has been decreasing year-over-year and is not keeping up with the demand from homebuyers.
If you decided not to sell this spring due to the health crisis, maybe it’s time to jump back into the market while buyers are actively looking for homes. Reach out to a local real estate professional to determine your best move forward.
Source: https://www.keepingcurrentmatters.com/2020/07/01/a-historic-rebound-for-the-housing-market
Buying a lake house can be a great investment, regardless of whether you intend to use it as a vacation property or a year-round residence. With that said, you shouldn’t rush into buying a lakefront property just because it’s available. As with any house, there are some things that you should think about before you sign on the dotted line. Here are a few specific considerations you should keep in mind when looking at a lake property that’s for sale.
One of the first things that you’ll notice is that there’s more moisture in the air close to the lake. Higher humidity can be unpleasant during the summer, but it also can have a negative effect on your property as a whole. Mold, mildew and other humidity-related damage can occur over time, so it’s important to make sure that properties you consider were built and furnished with this in mind.
Because the property sits close to the lake, you’re going to have a higher water table than you would with more landlocked properties. This isn’t necessarily a bad thing, but if the property has a basement or other underground area then you need to see what effects the water table has on those areas. Keep an eye out for leaks, flooding, cracks or mold that might be a result of the water table being higher than usual
Having a home close to the lake is nice, but it becomes significantly less nice if it doesn’t offer you lake access that meets your needs. If you have a boat, see if you’ll have easy lake access from your property or if you’ll have to get on the water somewhere else. Likewise, if you just want peaceful evenings to watch the sun set over the water, make sure that there isn’t a busy lake access point or marina close to your property.
There’s more to consider when buying a lakefront property than just the view. Take the time to walk along the water line and see what sort of shape the shore and the nearby water are in. Look for signs of erosion in the shoreline and yard and see whether the water itself is choked with weeds or other plant life. You should also look for signs of debris or other indicators of how high the water tends to get when the lake is swollen from rain.
A lake house can be a feast for the eyes, but those aren’t the only senses you’ll experience your lake property with. Lakes often have a distinctive smell, and in some cases, it can be pretty strong. A little bit of lake odor is usually pretty easy to overlook, especially if your house is set back from the water a bit. For some lakes, though, it can be almost overpowering, especially during the summer months when you’re most likely to want to be out on the lake. Before you buy, make sure that any odors from the lake are tolerable not only for you but also any guests that you might want to invite out.
If you’re buying a lakefront home, you may find that it costs more to insure than a property that’s more inland. In some cases, the insurance can cost substantially more. That’s not even counting flood insurance or other disaster-related policies that you’ll likely want to take out. Just make sure that the cost of insuring your new lake property isn’t going to be more than you can really afford to take out.
It can take a lot of searching to find a lakefront property that checks all of your boxes. Fortunately, HomeKeepr is here to help. Sign up for a free account today to find the experts you need to inspect and customize the lake home of your dreams.
Article Source: HomeKeepr
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
