Lead-Based Paint: Keep Your Family Safe

Lead is a metallic element found in rocks and soil virtually everywhere in the world. Tiny lead particles can be toxic if individuals inhale or swallow them. Over time, those inhaled or ingested lead particles may accumulate in blood, bones and soft tissue. The lead can cause permanent damage to the central nervous system, kidneys, brain, and red blood cells. This is lead poisoning, which can ultimately lead to death.

Infants and small children are particularly vulnerable to the effects of lead poisoning. The Environmental Protection Agency (EPA) reports that lead can harm children more readily for three reasons.

First, "babies and young children often put their hands and other objects in their mouths. These objects can have lead dust on them." Additionally, "children's growing bodies absorb more lead," according to the EPA, and "children's brains and nervous systems are more sensitive to the damaging effects of lead."

Lead-Based Paint Dangers

Lead-based paint is one of the biggest sources of lead poisoning. "The federal government banned lead-based paint from housing in 1978," reports the EPA, while "some states stopped its use even earlier." While lead's toxic effects were understood early in the 20th century, it took decades before it was phased out of use in the United States.

Lead-based paint in good condition typically doesn't pose a risk. Trouble arises when the paint ages and chips or flakes. Small children might eat those paint chips and run the risk of lead poisoning.

Also, if lead-based paint is scraped, sanded, or heated with an open flame (as it would be in the process of paint stripping for the purpose of renovating or remodeling), then lead particles can become airborne and inhaled. Just as bad, those particles can land in carpet fibers and fabrics where they can gradually recirculate.

Be particularly mindful about using a vacuum to clean up paint chips; lead can penetrate your vacuum's filter system and recirculate through the air exhaust stream.

Government Efforts to Reduce Lead Exposure

Fortunately, the government has come to understand the potential dangers of lead-based paint. By 1960, lead-based paint was used in only one-third of all American homes. By 1977, the United States government banned lead in many household products as part of its Lead-Based Poisoning Prevention Act. Since then, federal and state agencies, including the Center for Disease Control and Prevention (CDC), the Department of Housing and Urban Development (HUD), and the EPA have taken additional steps to get lead out of paints, drinking water, automotive fuel, and other products and to minimize the dangers to people living with lead in older homes.

The EPA passed a rule in April of 2010 requiring renovators of 1978 and older homes to obtain training (for individuals) or certification (for firms) for "lead-safe work practices." Renovators aren't the only people with a legal responsibility to help prevent lead exposure:

• Landlords must share lead-based paint information with potential tenants of structures built before 1978. They must disclose "known information" about lead in the building prior to leases becoming effective.

• Sellers of 1978 and older homes are required to include a disclosure of lead-based paint hazards on sales contracts and to disclose "known information."

• Buyers of 1978 and older homes are entitled to have a check for lead performed within 10 days of being notified of the potential for exposure.

A pamphlet detailing some ways to minimize lead exposure in the home is available from the EPA. For more EPA recommendations, you can call 1-800-424-LEAD.

Testing for Lead-Based Paint

If you have reason to suspect lead-based paint is in your home, have it tested by a qualified laboratory. Contact local, county or state health and environmental services for information or referrals to certified testing laboratories. Home testing kits can be unreliable, but the government works hard to make testing affordable and accessible to residents of older homes. A booklet about how to test for lead is available from the EPA.

Lead Paint Removal

If you have lead paint in your home, and if it's peeling, chipping or excessively aged, have it removed immediately (if it's still in good condition, it's probably still harmless). Lead paint removal can be a costly and time-consuming process, but you might have to endure much dearer costs by leaving it alone and exposing yourself and your family to its very real dangers.

Call on a qualified, experienced professional to handle your lead paint removal. If you insist on doing it yourself, consider these important tips:

• First, conduct all testing for lead-based paint thoroughly and accurately.

• Be sure you meet the EPA's requirements for training before you begin.

• Move your family (pets, too) off the premises for the entire procedure. Do not move back home until the job is finished and the area is cleared.

• Make sure any pregnant (or soon to be pregnant) women are out of the house long before you start the paint removal process.

• Do not use belt sanders, propane torches, heat guns or dry sandpaper. These tools will spread lead particles into the air, creating an inhalation risk.

• Note that lead dust can remain in the air and throughout your house long after the procedure is completed.

Removal Alternatives

If your paint is still in good (intact) condition, you may be able to eliminate any potential dangers by covering it with wallpaper or simply repainting the surface with safe (non-lead) paint. Another alternative is to install a layer of wallboard over the surfaces painted with lead-based paint. Consult with a qualified professional for evaluation or paint removal.

The long-term danger of exposing growing children to lead is very real, but avoidable. With care, you can protect yourself and your family from lead by having your home tested for lead-based paint if it was built before 1978, undertaking any renovations only after obtaining EPA-certified training, and using trained professionals for lead-paint removal. If you think there's been lead-based dust or chipping paint in your home, have a blood test performed on any vulnerable family members. Therapies are available to help patients with acute lead poisoning, but the safest thing to do is avoid exposure in the first place by making the home safe.

All information and services are provided by Katie Oakes with Keller Williams Premiere Properties based in Glen Ellyn, IL.

Learn More About Katie Oakes - Wheaton Real Estate Agent

Glen Ellyn Housing Market: November 2012 Update

Market Statistics for Glen Ellyn - Updated November 2012

The inventory of homes for sale in Glen Ellyn has been contracting over the past year homes listed for sale have decreased by 11.1% (homes listed for sale in October 2011 compared to October 2012 have dropped a staggering 29.5%). Over the same time frame homes under contract are up by 77.6% and homes that have sold have increased by 117.2%. 

The median price of homes in Glen Ellyn have also been experiencing some noticeable changes from 2011 to 2012. Homes that are closing now are selling at a staggering 19.1% increase from year over while homes that are just being listed for sale now are up 14.5% higher than they were from last year.

This trend continuation of the shrinking number of homes on the market along with other indications of prices having hit bottom and even consistent price increases over the past few months signify a turn around in the housing market, specifically in Glen Ellyn. Take advantage of these rock bottom prices while they are still around and visit WheatonHomes4Sale.com to start searching for available properties right now!

As a local Realtor I take pride in staying informed on local markets, please do not hesitate to contact me with any real estate questions or concerns. Looking to buy, sell or invest in real estate? I would love to help, please contact me and let me know how I can be of service!


Information and service provided by Katie Oakes at Keller Williams Premiere Properties.

Winfield Housing Market: November 2012 Update

The influx of homes hitting the market for sale has slowed tremendously and this month only shows about a 1% increase year over of home being listed for sale in Winfield compared to 12 months ago. Over the same time frame homes under contract (homes that have waiting to close) are up by 35.5% and homes that have sold (or closed) have increased by a dramatic 67.7%. From looking at the numbers it is clear that the rate of homes being put on the market is slowing dramatically while the increase of homes under contract as well as the number of sold are increasing at a much higher rate. This is an indication that a turn around may be starting in Winfield, following suit to other local areas like Wheaton and Glen Ellyn.

The median price of homes in Winfield have also been experiencing some noticeable changes from 12 months prior. Homes that are selling now are selling at a staggering 33% increase from a year ago while homes that are just being listed for sale now are also up about 12% higher than they were from last year.

Take advantage of these rock bottom prices while they are still around and visit WheatonHomes4Sale.com to start searching for available properties right now!

As a local Realtor I take pride in staying informed on local markets, please do not hesitate to contact me with any real estate questions or concerns. Looking to buy, sell or invest in real estate? I would love to help, please contact me and let me know how I can be of service!


Service and information provided by Katie Oakes with Keller Williams Premiere Properties.

Wheaton Housing Market: November 2012 Update

The inventory of homes for sale in Wheaton has been contracting over the past year homes listed for sale have decreased by 11.2% (homes listed for sale in October 2011 compared to October of 2012 have dropped a staggering 22.3%). Over the same time frame homes under contract are up by 106.9% and homes that have sold have increased by 101.7%. 

The median price of homes in Wheaton have also been experiencing some noticeable changes from October 2011 to October 2012. Homes that are selling now are selling at a staggering 11.7% increase from a year ago while homes that are just being listed for sale now are up 14.2% higher than they were from last October.

This trend continuation of the shrinking number of homes on the market along with other indications of prices having hit bottom and even consistent price increases over the past few months signify a turn around in the housing market, specifically in Wheaton. Take advantage of these rock bottom prices while they are still around and visit WheatonHomes4Sale.com to start searching for available properties right now!

As a local Realtor I take pride in staying informed on local markets, please do not hesitate to contact me with any real estate questions or concerns. Looking to buy, sell or invest in real estate? I would love to help, please contact me and let me know how I can be of service!


Information and service provided by Katie Oakes at Keller Williams Premiere Properties.

Help Sell My Home Fast: Should I Sell My House and Carry the Contract?

In slow markets, when homes just don't seem to move as quickly as we'd like them to, offering seller financing may be the key to getting a home sold. With the sluggish real estate market of the last few years, seller financing has been dramatically increasing in popularity, but is it a smart move for you?

If you just can't bear to let your home go for a fraction of what you paid for it, or you really need to sell quickly, then it may be a great option for you. Offering to carry the contract makes it easier for interested buyers who simply can't get a home loan in today's tough lending environment. Owner financing could help you avoid the nasty consequences of a foreclosure or allow you to trade up and take advantage of a great deal on a better home while prices are low, without juggling two mortgage payments.

Offering any form of seller financing can instantly make your home more attractive and stand out in the sea of properties on the market. It can also allow you to set a far higher price than you could get if you sold it to a cash buyer today. Just make sure you are aware of all your options and how badly it could turn out if things go wrong.

First make sure you find out how much your home is worth by entering all your home's information here - Home For Sale - Price Evaluation

How Dangerous is It?

People have been selling their homes like this for decades, and real estate investors have used the process to make millions, so what it there to worry about?

There are three main threats to those who are considering offering some type of creative financing to prospective buyers.

Your Home Just got Demolished.
Until your contract or seller-held mortgage is paid off, any damage to the property could devalue it further, leaving you with a pile of rubble you can never sell. The last thing you want is someone smashing up the place or a hoarder getting your home condemned!

You Just Gave Away Your Home.
Depending on how you put your documents together, and your state laws, you could be giving up "equitable rights" to your property or creating a shared ownership arrangement. If your buyer defaults, this is going to make it even more of a mess to evict him or her. Get ready to take a number and step to the back of the line behind the banks waiting two years to foreclose on their deadbeats.

No, Those Aren't Pandora Bracelets the Nice Man in Uniform is Bringing You.
No, the sheriff didn't just get a part-time job as a jewelry delivery guy. If you are underwater on your mortgage, and you can't keep up on payments, selling and carrying the contract may be difficult. Obviously, you can't sell the home for less than you owe without your lender's approval, and if the incoming rent or mortgage payments aren't enough to cover your home loan, you could find yourself in big trouble. If your new resident gets a foreclosure notice, you can bet they will be contacting an attorney, the local news, and demanding a warrant put out for your arrest for defrauding them out of their money.

If this is you, get a loan modification or ask your lender about a short sale.

How do I Sell My House and Carry the Contract Safely?

Be extremely wary of signing any document that shady guy with the beat up truck and "We Buy Houses for Cash" magnet sign tries to shove in front of you.

There are a number of ways to offer seller financing, including:

Land contracts
Trust deeds
Seller held private first or second mortgages
Lease options
Rent-to-own

Each has its own pros and cons. What is right for you really depends on your local laws and current situation. All of these choices essentially allow you to demand a higher price tag than the current market would allow and can provide you income as well as a big cash payday later. However, seriously consider consulting an attorney for help drafting the agreement before signing away the deed to your home.

Tip: You may have an assumable mortgage, which a new buyer can simply take over, relieving you from the debt and accelerating the transaction while making your home far more attractive. VA loans closed before March 1, 1988 are typically assumable (lender approval is required for loans closed after that date), so check your loan paperwork carefully.

Know Someone Who Badly Needs to Sell His Home?

Finally, whether or not this is a good move for you, if you have any friends or family members wondering if they should sell their house and carry the contract, suggest that they take the time to vet any potential buyers carefully before entering into a contract, and of course seek the advice of an attorney.

Find out how much your home is worth by visiting "Wheaton Homes For Sale"

Service and information provided by Katie Oakes with Keller Williams Premiere Properties; your Wheaton, Glen Ellyn, and Winfield real estate expert.

How Your Credit Score Affects Your Mortgage Rate

Credit checks are a necessary part of applying for any loan, but they are especially important during two stages of the loan process: on the day you apply for a mortgage and shortly before closing on the loan. The first credit check is to ensure that you pay your bills on time and have sufficient income to purchase the property. The last credit check before closing is the lender's last assurance that you are, indeed, creditworthy.

Knowing what lenders look for on your credit report and in your FICO® score is important information and can help you prepare to get the best mortgage possible.

Mortgage Lenders

Mortgage lenders take your credit score very seriously. Even though studies show that applicants with high FICO® (Fair Isaac Corporation) scores are more likely to strategically default on a mortgage loan (walk away from it), applicants with low scores are still considered a greater risk by lenders.

Generally, the better your score, the more options you have. You'll be able to buy with a lower down payment, access a wider variety of loan types, and pay fewer points for a lower mortgage interest rate.

Good Score? Lower Mortgage Interest Rate

How much lower will your interest rates be if you have a good credit score? This will vary from individual to individual.

Keep in mind that the FICO® scoring range runs from 300 to 850. Let's say you're applying for a 30-year mortgage and your FICO® score is 760, which is a very good score. Your interest rate may be among the lowest on the market.

Now, let's assume your FICO® score is quite a bit lower: only 620. Suddenly your interest rate is dramatically higher. If your score falls between 500 and 520, you will have much higher interest rates and you'll find fewer lenders willing to work with you.

Borrowers with scores between 300 and 500 are generally not considered creditworthy. If you're interested in learning more about how your score impacts the interest rate on your new mortgage loan, see the chart at MyFico.com.

My Score was Fine. Why Wasn't I Approved?

Even with a sterling FICO® score, you may still be turned down for a mortgage loan. If you are unemployed or have been within the past two years, you may not be approved for a loan. If you don't make enough money to cover the monthly payments, you may be denied a loan. There are any number of reasons a lender may not want to work with you, even with a high FICO® score.

Credit Checks and Life

Your financial history will not only affect your chances of buying a house, but may impact your ability to receive financing for a car, a vacation or for home renovations.

Insurance rates may also be affected by your rating, as poor ratings usually mean higher premiums. Many colleges will consider your financial history before they approve student assistance programs. Even employment may be affected, as many employers require a credit check as a character reference before offering a position.

Service and information provided by Katie Oakes with Keller Williams Premiere Properties. Visit WheatonHomes4Sale.com to start your home search today or just begin looking at homes that are currently for sale in your area!

Safety for Children: A Homebuyer's Guide to Kids' Rooms and Play Areas

Children alter how families look at homes during the home buying process. A family with children has to consider extra bedrooms, extra bathrooms, and safe places for children to learn and play. Indoor and outdoor recreation should be fun and comfortable, while safety should always remain the highest priority.

Kids' Rooms

Kids' rooms should be large enough for children to grow in. A tiny room may work for a 6-year-old, but could be terribly cramped for a teenager. Kid's rooms should include the following:

• Room to grow
• Accessibility
• Storage space
• A safe exit for emergencies

Families generally want kids' rooms on the same level of the house as the master bedroom. While a teenager might accept, or even want, a basement bedroom, small children's rooms should be close enough for you to access them quickly at night.

Consider the amenities you want in kids' rooms. Bookcases, closet organizers, and other storage space can be a real asset. Some solutions can be added after the home is purchased, but a house with built-in storage can be a plus.

Safety is also a consideration: In case of fire or similar emergency, you'll want to make sure that your children will be able to safely escape their bedrooms. Children's Hospital Boston reports that "over half of children ages five and under who die from home fires are asleep at the time of the fire," but also that "children in homes without working smoke alarms are at greater risk of fire-related death and injury in the event of a fire." This means that you should consider several fire escape routes when looking at the bedroom configuration in your prospective home, but you should also carefully assess the number, location, and condition of smoke detectors in your home no matter where the children will sleep.

Family Rooms and Dens

A home with a family room and a separate, more formal living room will let you relax while the kids are watching shows or host guests while your kids enjoy a minefield of Legos® on the floor in the adjacent room. When the children grow older, the toys can be picked up and the family room can become a place for study, arts and crafts, or hanging out with friends. A den can become a home fitness center, a library, or a guest room when your children fly the coop.

Play Sets and Play Areas

Outdoor playsets and play areas can be real bonuses when families with children go house hunting, but always keep safety in mind. Playgrounds and play areas are only an advantage if they are safe areas for children. While your kids may be delighted by a ramshackle tree house, your first thought should be whether or not it's safe.

Generally speaking, store-bought playsets are safer than DIY play areas slapped together by an inexperienced handyman. Having said that, some amateur-built jungle gyms are well thought-out, inventive, beautifully-constructed, and safe enough for children to use. The U.S. Consumer Product Safety Commission (CPSC) publishes a broad variety of safety information on playground construction, materials, and components.

When building or buying a play structure, think about its placement in relation to your home and the street. Constant supervision is important whenever children play, so make sure the space is visible from where you plan to spend time. The National Program for Playground Safety also recommends watching out for age-inappropriate equipment, hard surfaces, poorly-maintained equipment, and protuberances where children can become trapped.

Swimming Pools

At first glance, a swimming pool seems like a great idea for families with children - it sounds great to have pool parties or just cool off on a hot day. Take a step back, however, and consider swimming pool safety.

According to the U.S. Consumer Product Safety Commission, approximately 350 children under the age of five drown every year in swimming pools - more than three times as many as drown in all other areas of the home (like bathtubs, hot tubs, landscape ponds, and other water containers). A swimming pool safety cover is essential for a backyard pool, but it isn't enough. Many other precautions are recommended to make swimming pools safe places for children:

• Constant parental supervision
• Door alarms
• Safety fences
• Underwater motion detectors

Even all of these safety precautions don't completely guarantee your child's safety around swimming pools. Many parents decide the allure of a swimming pool isn't worth the safety issues. Those parents who do purchase a home with a swimming pool must commit to enclosing the pool securely and remaining vigilant as long as they have children in the home.

Safety, Comfort and Growing Room

Family homes should be safe and comfortable. While children do need practical and fun spaces to relax, play, and grow, parents should also consider safety when looking for the place that their children will call home. If you're shopping for a home for your young children, think ahead to what they'll need when they're in high school. If your family might grow, think about whether you need extra space now or whether you can plan for a future addition. Consider whether the pool, playground, or tree house you're looking at is more likely to enrich your children's lives or endanger them. When you look at potential homes with your kids in mind, you can choose a home that offers the promise of a safe and enjoyable childhood.

Visit WheatonHomes4Sale.com to view homes for sale in Wheaton and the greater Chicagoland area.

Information provided by Katie Oakes with Keller Williams Premiere Properties.

Moving: How to Hire the Pros

Have you ever noticed how busy your friends and family members become on your moving day? Can you blame them? Moving is tough, manual labor. The only reason that folks might be willing to help is in the hopes you'll reciprocate when it's their turn to move.  Being able to round up enough people to help with the move is just one consideration when determining whether to hire a moving company or just do it yourself. Here are a few other considerations:

• Time: How much time do you have to devote to the move? If you're relocating because of a new job and you're on a time crunch, professional movers will save you a lot of time.

• Distance: How far away are you moving? Interstate moves involve a lot of driving with possible overnight stops along the way. Do you feel safe leaving your belongings in the parking lot overnight?

• Money: If you're on a tight budget, a full-service mover may be out of the realm of possibility for you.

Types of Moving Companies

Moving companies have evolved from the days when the massive truck pulled up to the house and loaded pre-packed boxes and furniture for the move to a new location. Today, you have a number of choices to consider when hiring moving assistance:

• Pack it yourself and hire professionals to load and deliver.

• Hire professionals to pack, load and deliver. Some companies offer unpacking services as well.

• Hire a professional with a truck. You pack, you load and he drives.

Of course, like most things in life, the more services you desire, the more you'll pay.

Choosing a Moving Company

Finding the right moving company for your needs is probably one of the most challenging aspects of the moving process. Ask friends, colleagues and family members for a referral. If that doesn't work, the National Association of Realtors® suggests that you choose a mover that is a member of the American Moving and Storage Association (AMSA).

Interview representatives from several companies and ask lots of questions:

• Ask about the moving company's responsibilities if items are damaged while in their care.
• Are employees bonded?
• Verify the mover's license.
• Check with the Better Business Bureau for complaints against the company.
• Don't accept telephone quotes. The only way to get an accurate quote is for the mover to assess your situation in person.
• Ask for an itemized breakdown of all fees the company charges and explanations of any that you don't understand.

Federal law requires movers to supply you with the booklet: "Your Rights and Responsibilities When You Move." In it you will find information about your mover's responsibilities and how to make the move go smoothly.

Additionally, the U.S. Department of Transportation (DOT) warns consumers to never sign a mover's blank documents. These papers are binding contracts and should be read thoroughly before signing. If there are blanks, other than one for the weight of your items, line them through or refuse to sign until the blanks are filled in.

For help with choosing a mover and information on how to protect yourself and your belongings during the move, visit the DOT's website.

Looking to browse homes currently for sale in your area for free? Visit WheatonHomes4Sale.com now and start today!

Information and real estate service provided by Katie Oakes at Keller Williams Premiere Properties for Wheaton Homes For Sale.

Considering Kitchen Layouts

The single-guy-who-nukes-his-dinner-every-night crowd probably doesn't care about a good kitchen. To the rest of us, the kitchen can make or break a real estate deal. To a lot of people a kitchen isn't just a room in which to prepare meals. It's a homework area, a place to sit with a neighbor over a cup of coffee, and, in the case of the country kitchen, an area where the family gathers to share the day's stories. If you're not that single guy with a microwave, evaluating kitchens will be an important aspect of your house hunt.

Classic Kitchen Design: The Work Triangle

One element of classic kitchen design remains constant throughout the years: the work triangle. The triangle's three points are the refrigerator, the oven and the sink, and its purpose is to ensure efficiency and good traffic flow.

To picture the triangle, consider how you work in the kitchen. When preparing a meal you move between the refrigerator, the stove and the sink. Good kitchen design places these elements in a triangle. Which element is at the apex of the triangle depends on the kitchen's layout. There are four distinct kitchen layouts, and within each of them the work triangle remains a constant: the galley, the "L" shape, the "U" shape and the "G" shape or peninsula.

Within the kitchen triangle there should be an area for food preparation, such as a cutting block, counter or island.

While the work triangle is a well-known aspect of kitchen design, many kitchen layouts either ignore it or have a deeply flawed triangle. When you're looking at a kitchen, keep the work triangle in mind. Even small kitchen layouts can be functional and practical if the work triangle is properly integrated.

Kitchen Cabinets

Kitchen cabinets play a dual role in the kitchen. They are both functional and, hopefully, decorative. Deep cabinets are ideal for storage of seldom-used and oversized items, while shallow cabinets work best for small, frequently used items, such as spices. When viewing a house you're considering purchasing, take a look inside each kitchen cabinet with an eye toward whether it will accommodate your kitchen equipment.

The location of kitchen cabinets is also important. You should be able to reach the pantry and cooking supplies without having to deviate from the kitchen work triangle.

Kitchen Design Extras

A number of features are wonderful surprises when house hunting, even if they're not essential to kitchen layouts:

• Breakfast nooks
• Fridges and dishwashers disguised by cabinetry
• Garbage disposal units
• Kitchen islands
• Recessed lighting
• Big pantries

Lighting can Enhance Kitchen Layouts

Avid cooks understand the importance of good lighting in the kitchen. Homebuyers, on the other hand, seem to give it a cursory glance. If you cook, even if it's just family meals, good lighting is essential. Turn on the lights – all of them. Try to picture the room as it will be at night, while you're cooking dinner. If the light is insufficient, is there a way to add more light? Some of the big-box department and import stores carry inexpensive under-counter lighting that you can install with just a screwdriver.

Information and service provided by Katie Oakes with Keller Williams Premiere Properties. Start your home search now at WheatonHomes4Sale.com to view the official listing information and pictures for homes listed for sale in your area.

Glen Ellyn Homes For Sale: Market Update October 2012

PRICE TRENDSThe median list price in October for single family homes in Glen Ellyn is$429,900. The list prices dropped by-6.31% from the previous month. The price per square foot for listings in this area is $198. The median sale price in July for single family homes is $400,000. The sale prices dropped by -10.61% from the previous month.  The price per square foot for sales in this area is $173.

MARKET INVENTORY TRENDS
The number of active listings in Glen Ellyn dropped by 3.3% from the previous month. The median number of days active properties have been listed is 82. This is significantly shorter than the national average. The number of sales in July dropped by 60% from the previous month.

PROPERTY OWNERSHIP TRENDS
The percent of unoccupied properties is very low in Glen Ellyn. It is -9.51%below the national average. The percent of owner occupied properties in Glen Ellyn is 10.28%above the national average.

Browse official listing information and pictures for homes listed for sale in Glen Ellyn. Not looking in Glen Ellyn? Just visit WheatonHomes4Sale.com now and start a search in your area!

Services and information provided by Katie Oakes with Keller Williams Premiere Properties in Glen Ellyn, IL.

Carol Stream Homes For Sale: Market Update September 2012

The inventory of homes for sale in Carol Stream has been contracting over the past months and from September 2011 to September 2012 homes listed for sale have decreased by 16.6%. Over the same time frame homes under contract and pending sale are up by 114.1% and homes that have sold have increased by 39.3%. 

The median price of homes in Carol Stream have also been experiencing some noticeable changes from September 2011 to September 2012. Homes that are selling now are selling at a 52.5% increase from a year ago while homes that are just being listed for sale now are up 21.7% higher than they were from last September.

The shrinking number of homes on the market along with other indications of prices having hit bottom in the past few months signify a turn around in the housing market, and specifically in Carol Stream. Take advantage of these rock bottom prices while they are still around and visit WheatonHomes4Sale.com to start searching for available properties right now! CLICK HERE TO VIEW ALL THE HOMES FOR SALE IN CAROL STREAM

Learn more about Carol Stream including community information and data regarding the local schools in Carol Stream here.




Information and services provided by Katie Oakes with Keller Williams Premiere Properties.

Wheaton Homes For Sale: Market Update September 2012

The inventory of homes for sale in Wheaton has been contracting over the past months and from September 2011 to September 2012 homes listed for sale have decreased by 12.6%. Over the same time frame homes under contract are up by 105.2% and homes that have sold have increased by 74.2%. 

The median price of homes in Wheaton have also been experiencing some noticeable changes from September 2011 to September 2012. Homes that are selling now are selling at a 5.6% increase from a year ago while homes that are just being listed for sale now are up 18% higher than they were from last September.

The shrinking number of homes on the market along with other indications of prices having hit bottom in the past few months signify a turn around in the housing market, and specifically in Wheaton. Take advantage of these rock bottom prices while they are still around and visit WheatonHomes4Sale.com to start searching for available properties right now!




Information and service provided by Wheaton Homes For Sale and Katie Oakes with Keller Williams Premiere Properties

Buying Vacation Home Properties: What You Need to Know

Ah, the vay-cay! We work for it, we live for it -- typically fifty weeks of the year. When the time finally rolls around, many Americans have their own slice of heaven in which to spend their well-deserved time off: a vacation home. Whether it's a cottage by the beach, a house in the mountains or a condo on the Las Vegas Strip, it begs you to unpack and relax.

If you're thinking about buying a vacation home, there are some things you should consider.

Buying a Vacation Home Means Managing two Mortgages

If you're not a member of the 1 percent, you may find that managing more than one mortgage is challenging. Your vacation home should be a haven, not a place that stresses you out because it costs so much every month. So, before considering the purchase, make sure that you can comfortably afford the extra payment every month.

"The basic rule of thumb is that your housing costs - including those for your primary home - should be a third of your overall income," cautions Jay Mastilak, senior vice president for PNC Investments. Housing costs, as most homeowners know, add up to more than a mortgage payment. You'll want to consider all of the costs listed below as part of the total cost of your vacation home.

Up-Front Costs of Buying a Vacation Home

Think back to when you purchased your primary residence. Remember the piece of paper they handed you at the closing table? You'll get another one when you close on the vacation home, itemizing just how much it cost to purchase the home, above and beyond the purchase price. Closing costs are a bear, as any homeowner will attest. These include:

• recording fees
• loan origination fees
• credit report fee
• title insurance premium
• private mortgage insurance
• points
• homeowner's insurance
• escrow deposits
• miscellaneous fees

Many of these expenses can be avoided if you pay cash for the purchase, according to the experts at the University of Rhode Island.

Ongoing Expenses of Owning a Vacation Home

Aside from a monthly mortgage, other costs you'll likely incur include:

• annual condo or homeowners association fees
• annual property taxes
• insurance
• landscaping costs
• maintenance costs
• security during the off-season
• travel costs
• utilities

Maintenance fees may be particularly high on homes that are very old, very large or have pools or other amenities that need regular attention.

Vacation House Rentals: Renting Your Second Home

One way to offset the cost of your second home is to find a tenant to rent your home while you're away.

If you want to let out for a substantial portion of the year, you'll have to take taxes into account. U.S.-based homeowners must adhere to a "14-day Rule" that states a vacation home can be rented out for up to two full weeks without being taxed. Any longer, and the rental income is subject to federal income tax.

If you are considering renting out the home, don't forget the obvious risks of opening your home to tenants, such as wear-and-tear or trouble collecting rent. And you'll want to calculate how long of a period you will need to rent the home to cover costs: Christine Hrib Karpinski, author of "How to Rent Vacation Properties by Owner," reports that in most places, vacation homes need to be rented out at least 15 weeks out of the year for a homeowner to break even.

Overall, one of the biggest considerations when purchasing a vacation home is determining if you can afford it. Then, consider how often you'll use the home and if it's feasible to rent it out when you aren't using it. If the numbers crunch, those 50 weeks of work become even more worth it.

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Smart Real Estate Investing for the New Rebound

A new real estate boom appears to be taking root and spreading across the U.S. especially in Wheaton and the surrounding areas, but is this really the investment opportunity of a lifetime or are we being set up for another exploding bubble?

What Would Warren Buffett Do?

Legendary investor Warren Buffett has been known to dominate the headlines and even made the cover of Time Magazine, so what's he talking about? Buffett's recent crusade has been focused on selling the benefits of real estate investing and pointing out an array of indicators which suggest a new, extended period of growth. This is a view being echoed around the country from veteran real estate agents who say, in certain markets, a seller's market is definitely here again.

The New Gold Rush is On ...

Those who can afford it are bidding on packages of 500 rental properties being offered by Fannie Mae, while others are racing to foreclosure auctions or bidding on as many short sales as they can.

Prices are as close to bottom as most can predict, and the fear is that soaring home prices (due to shrinking inventories), the potential evaporation of REO and short sale opportunities in the near future, and a potential rise in mortgage rates will cause the best opportunities to fade quickly.

In principal the strategy appears to be sound. After all, banks are now paying selected homeowners up to $35,000 to complete short sales and get out, making cutting deals a breeze for investors. But are we getting set up for another great fall?

Over-Confidence Breeds Dangerous Speculation: Are You Being Fooled?

It truly is a great time to invest in real estate for those who buy wisely, buy low and have the finances to do so. Unfortunately, the contagion of overconfidence already seems to be infecting the masses, luring novices into acquiring properties they believe they can flip like the investors on a reality TV show.

Stories are emerging of buyers overpaying for homes and multifamily apartment buildings and even a surge in investing in the junk subprime securities which were supposedly to blame for the whole housing crash six years ago. It seems some people will never learn or just enjoy gambling.

How to Invest Wisely in the New Rebound

When utilized wisely as part of a diverse portfolio, real estate investment can be the best move for most Americans to build wealth and subsidize their incomes in retirement. Between passive cash flow, appreciation as a hedge against inflation, and depreciation to offset taxes, it is incredibly attractive. However, there are a few rules which must be followed:

1. Define Your Goals

Before acquiring any property, ensure that you have defined your financial and personal goals and that your investment decisions are aligned with them.

2. Is Your Home the Worst Investment You can Make?

For many, purchasing a home can create forced savings and eventually become the best investment they ever make. However, your own residence and home equity should never be something to gamble with. It's where you live; your investments are for paying for that. Don't confuse the two.

3. Don't Invest in Real Estate Until You Are Financially Ready

Real estate is somewhere to put your money to work for you. No money down real estate investing is possible, and it can be a way to make money, but if you bite off more than you can chew and don't have any savings or reserves, you are asking for bankruptcy.

Make sure you are prepared for the worst, have separate personal savings which are sufficient to carry you through for several months, and have an exit strategy before you get in as well as a plan B and C.

Don't Believe the Hype!

There are many ways to invest in real estate and even more silver-tongued professional sales people to pitch them. Choose a solid strategy and be wary of distractions that can lead you into investing in all types of exotic locations and structures you don't really understand.

Note investing, construction, commercial properties and starting property management companies can all be exciting and profitable, but just as with stocks, it may be safer to invest in what you know.

Protecting Yourself Against Market Fluctuations

The most important thing for anyone considering real estate investment is to get educated. Don't worry, this doesn't mean having to go back to school or picking between tacky late-night infomercial products. However, it does mean learning more about the potential risks, how to protect against them, real estate cycles and the signs of negative fluctuations to watch for.

Buy-and-hold investing and creating a portfolio of rental properties is hot right now and has the potential to create incredible wealth over the long term. Just realize how long you may have to hold your investment and what the penalties could be if you need to cash out early in less buoyant times.

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