DIY Patios: What to Consider When Designing a Patio

DIY Patios: What to Consider When Designing a Patio

Adding a patio to your home is exciting. It's the perfect place for relaxing outdoors, alone or with company. It's not as simple as finding a patio you admire and duplicating it, however. You have to design a patio that will work with your location, budget and other factors. Here are some things to consider when designing your patio to ensure it suits your needs while expressing your personality and style.

Patio Location

Don't be afraid to think outside the box when it comes to location. No rule says a patio has to adjoin the rear of the house. You may prefer placing it in the front yard, or off to the side instead. A beautiful "destination patio" in the middle of the backyard with a pathway leading to it may fit your home and lifestyle perfectly.

When deciding on your patio location, keep in mind other design considerations such as the size, how you plan to use it, and how much sun, shade or climate protection the location offers. Even the land itself influences the patio location. A more level area, free of underground lines, requires less work to prepare. (Always call 811 before digging. Utility companies will dispatch and mark underground items for you.)

Don't forget the view, either. Plan on laying out in your swimsuit? You may want a more private location. Socializing with the neighbors allows for a more open setting.

How Will You Use the Patio?

Just as important as the patio location is how you plan to use it. A patio meant as a private retreat may not be very relaxing next to a full, active house, for example, while a patio meant for dining and cooking works best closer to the home.

Do you plan to host small, intimate gatherings or do you have a large family? Will children and pets regularly use the space? Rather than a flat, simple rectangular patio, would you rather have various areas, perhaps with different shapes or levels, to create groupings for different times and purposes? Look for patios you admire to spark your design ideas.

Patio Size

Size is everything. Depending on your budget, you may have to limit the size of your patio, change the layout or compromise on special features. Don't think of your patio as a one-time chance to get it right, either. You can always keep the design expandable and add the extras later, as money permits.

Create a Budget

Your budget will impact not only the size and layout, but also the building materials you choose. Don't assume that a limited budget means your patio has to be plain. Even concrete can be made beautiful with stains and special finishing techniques. Brick allows for a richer color variation, and pavers can create an old-world feel. Once you have determined the patio size, location and layout, it's much easier to price the materials needed. Consider adding graceful curves, beautiful planters or special borders to make up for less-fancy materials.

Decide on Extras

It's the furnishings and features that make a patio your favorite place to hang out. Also consider any irrigation, drainage, landscaping and lighting you want to include. It's much easier to run pipes, lines and cables now, before the patio is built, than later. Other options include:

A fire pit

A built-in grill (or space for your portable grill)

A water fountain or pool

Built-in seating or flowerbeds

Steps and railings

A roof and screened-in areas

Walls or fences

A built-in kitchen or bar

As you plan your patio, look for other patios you admire and modify the elements that catch your eye to suit your own design. Designing and planning your new patio is really the fun part. Well, other than the hours you will spend enjoying the end result!

Information and service provided by Katie Oakes with The Champagne Realty Group at Keller Williams Premiere Properties in Glen Ellyn. Contact Katie Oakes for more information about buying or selling your home in the Wheaton, Winfield and Warrenvillearea or simply visit Wheaton Homes For Sale online to start your search now! Our team also works with local investors to find properties suitable for a renovation and resale. Contact us today for more information on signing up to receive email alerts when potential investment properties hit the market. As long time residents of Wheaton and Glen Ellyn we specialize in Wheaton homes for sale and Glen Ellyn homes for sale including the surrounding towns and areas. The Champagne Realty Group has closed over $140 million in real estate volume with over $40 million dollars and over 100 transactions in 2013 alone. The Champagne Realty Group is #1 at Keller Williams Premiere Properties for number of listings sold in 2013. 

The Champagne Realty Group

Keller Williams Premiere Properties

45 S. Park Blvd. Suite 300

Glen Ellyn, IL 60137

Just Listed For Sale - 368 Lorraine in Glen Ellyn

368 LORRAINE STREET IN GLEN ELLYN, IL

The Champagne Realty Group

Check out this spacious and meticulously maintained, all brick "in-town Glen Ellyn" ranch home. The open floor plan features recently resealed hardwood flooring, an updated kitchen, space for a kitchen table, dining room and more! The beautifully finished basement offers over 1,000 additional square feet of living space with an office and full bathroom. Some of the updates include a new roof (2013), bathroom renovation (2009) and professional landscaping (2007). Don't miss the 2-car garage or the walk to train, school and Prairie Path location all priced under $350K! Follow this link to view more property pictures and details 368 Lorraine Street in Glen Ellyn.

368 Lorraine Kitchen

Information and service provided by Katie Oakes with The Champagne Realty Group at Keller Williams Premiere Properties in Glen Ellyn, IL. Contact Katie Oakes for more information about buying or selling your home in the Wheaton, Winfield and Warrenville area or simply visit Wheaton Homes For Sale online to start your search now!

Just Listed 1618 E. Geneva Road in Wheaton

1618 E. GENEVA ROAD IN WHEATON, IL

This well maintained property oozes warmth and distinction.  The circle drive here provides easy access on and off Geneva Road. Pull up and make yourself at home in this spacious two story home with a full basement. Abundant storage throughout this 4 bedroom, 2.5 bathroom home. Enjoy the cozy fireplace in the living room. So many updates done here in the past 5 years including new garage doors, freshly painted living room and dining room, new roof, new air conditioner, new water heater, and new washer/dryer. Don't miss the bonus sitting room in the master bedroom or the 2 car attached garage AND 2 car detached garage in the extensive backyard space! Wheaton address with Glen Ellyn schools. All that's left to do is update the cosmetics - make this your new home!

Backyard & Bonus Detached Garage

Please contact Katie Oakes with The Champagne Group to set up an appointment to view this home or for more information about this home or others like it. The Champagne Group will be holding an open house for 1618 E. Geneva Road in Wheaton on August 18 from 1-3pm.

Formal Living Room

This home is offered for sale by The Champagne Group with Keller Williams Premiere Properties in Glen Ellyn. The Champagne Group has consistently ranked in the top 1% of all DuPage County brokers and has sold over 65 properties in 2013 alone. The Champagne Group is your go to brokerage team for Glen Ellyn and Wheaton homes for sale. Visit WheatonHomes4Sale.com now to start your free property search or to learn more about The Champagne Group.

7 Mistakes to Avoid When Selling a House

Lucky is the homeowner who has experience with selling a home. First-time sellers have a steep learning curve ahead of them and many obstacles on the road to a successful sale. Although common with first-time sellers, some of these obstacles aren't obvious.

1. Not Preparing the Home for Sale

"Dress your house for success," is probably the best advice for home sellers. Just as you wouldn't attempt to get top dollar for a car without cleaning the interior and detailing the exterior, so it goes with the sale of your home.

Cleaning the house is the first step because, face it, nobody will buy a dirty house. But, here's incentive for you to put on the rubber gloves and drag out the cleaning supplies: Clean houses sell quicker and for more money.

According to a recent survey, commissioned by one of the big real estate companies, a $402 investment in cleaning and decluttering a home realizes a 403 percent return on investment. That is a whopping $2,024 in your pocket at the closing table.

As impatient as you are to move on to the next phase of your life, it is vitally important to get the cleaning, painting, repairs and staging done before the house goes on the market.

2. Not Pricing the Home Realistically

The first few weeks that your house is in the local Multiple Listing Service database are known as the "honeymoon period." This is the time when it will get the most traffic. All the traffic in the world, however, won't compensate for a too-high price.

Buyers aren't ignorant and neither are their real estate agents. They are well aware of current market values in the areas they are searching and will know that your home is overpriced. In the meantime, you've wasted the honeymoon period. By the time you lower the price, agents and buyers will think there is something wrong with the house.

3. Not Hiring a Real Estate Agent

Yes, you will pay a real estate fee when the home sells. The flip side to hiring an agent is going it alone. If this is your first time selling a home, that would be a huge mistake.

First, unless you are a lawyer, how will you know how to protect your interests during the process? How will you understand the contracts and which ones to use when? Then, consider the negotiating process. Without an agent to advise you or to negotiate for you, you may make costly mistakes.

Finally, a 2008 Stanford University study showed that "the use of a broker increases the probability of a sale during the first month on the market by nearly 25 percent."  In other words, homes sold by owners remain on the market significantly longer than those sold by real estate agents.

4. Trying to Hide Problems

Full disclosure of everything you know about the property is not only the law, but it protects you as well.

Home sellers are legally required to disclose anything that affects the home's desirability or value. This doesn't mean just the big stuff, but neighborhood nuisances such as the weekly parties the college kids next door hold or the yappy dog that keeps you up at night.

A buyer can sue you in a court of law when the defect is discovered if you didn't disclose it, in writing.

Remember, you are only required to disclose issues that you know about. There is no need to hire an inspector to learn if the house has defects you don't know about. That is the buyer's responsibility.

5. Letting the Ducks Run Wild

Many first-time sellers are also purchasing another home. Trying to juggle two real estate transactions is challenging, and it's easy to let some of the details fall through the cracks. When that happens, though, you risk derailing either - or even both - of the transactions.

Line up all the stray ducks early in the process. Get your financing for the new home under way, and respond to the lender's requests in a timely fashion. Check your current mortgage for prepayment penalties. In the case of a short sale, determine if there is a second lender. This is important information for your real estate agent.

6. Being Inflexible

Buyers look at houses when it is convenient for them, not for you. Many look at homes after work or on weekends - busy times for most families. It's important to try to accommodate showings, even if it's inconvenient for you.

You never know, these may be the buyers who fall in love with the home. It's important to understand, and let your family understand, that, although the situation is uncomfortable, it's only temporary.

7. Not Checking With Your Homeowner's Insurance Agent

There will hopefully be a lot of people coming through your house and wandering around the property. Find out if your insurance covers slips and falls or anything else that might happen to a buyer while touring your property.

Take the time to walk around the property to find any hazards that exist. Cover the pool during showings and remove pets.

With the right real estate agent you'll avoid most of these mistakes, experience a smooth transaction, and soon be on the road to your new life.

Please contact Katie Oakes with The Champagne Group to set up an appointment to view this home or for more information about this home or others like it.

This home is offered for sale by The Champagne Group with Keller Williams Premiere Properties in Glen Ellyn. The Champagne Group has consistently ranked in the top 1% of all DuPage County brokers and has sold over 65 properties in 2013 alone. The Champagne Group is your go to brokerage team for Glen Ellyn and Wheaton homes for sale. Visit WheatonHomes4Sale.com now to start your free property search or to learn more about The Champagne Group.

Learn More About Katie Oakes - Wheaton Real Estate Agent

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.

How to Buy Vacant Land

Click here to view all Wheaton and Glen Ellyn Land/Acreage For Sale

The decision to actually purchase real estate is just the first of many decisions to come. When buying a home you need to decide on the what, where, when and how. Decisions to make include finding the right neighborhood, the right house, the right loan, real estate agent and home inspector. The process of buying land demands answers to the same questions, plus a lot more.

Do you want raw land or vacant land, or do you even know the difference? Raw land, since it typically lacks services, such as water, power and sewer, is typically more expensive to build on. Vacant land or vacant lots, however, still require that you perform plenty of due diligence: easements, zoning, land-use restrictions and utilities, to name a few. All that "stuff" that the developer did prior to building the homes you'll find in a subdivision, is now up to you.

Then there is the cost to build a home, if that is your plan. The cost to build will vary, according to several factors, with the following three at the top of the list:

• House design
• Quality
• Price of materials

According to C.J. Hughes, of This Old House magazine, the cost of the land and the cost to prepare it for construction shouldn't make up more than one-fourth the total cost of the construction budget. Just how will you determine that budget? Use anonline calculator to get a rough estimate of construction costs in your area.

Like most real estate transactions, if you're a property virgin, the entire process may seem like information overload. Let's break it down into bite-sized chunks.

Visit Appropriate City and County Offices

Government agencies offer a wealth of information that will speed you on your way in your due diligence. Here are a few places to start:

Planning Department

Look at the long-range land use plan to determine if anything unpleasant is in the works, such as a landfill, prison, electrical substation or a poultry or pig farm if odors bother you. Check traffic counts and ask about any upcoming road improvements. Your country property may be slated as highway-front property, so don't skip this step.

One of the most critical pieces of information will be the zoning. This will, among other things, let you know if you can even build on the land. Also, ask if the land is in a recorded subdivision as this will bear on how you can use your land.

Does the parcel have municipal water and sewage? If not, you'll need to factor in the cost of installing these items when determining the total cost of construction. Check with the health department about local sewer and water codes.

Access to the parcel is crucial. Don't assume any road is public – ask.

Assessor's Office

Here is where you'll find tax records, flood-zone boundaries and the proximity of any wetlands or other restricted use areas. You may find more information about easements and whether or not you'll require one to gain access to the property and whether someone else holds one over the property.

Financing Land

The most unpopular part of any real estate transaction has to be obtaining financing. Fortunately, you'll find a lot more owner-financing deals in the land arena than that of the single-family residence.

Other ways to finance the land purchase include obtaining a home equity loan on your current house, community banks and the government. The U.S. Department of Agriculture (USDA) offers loans for vacant land, provided you are building a single-family residence on the land right away, according to Elias Askins with the USDA Rural Development office in Clark County, Nev.

If you're stumped about where to go for financing, ask your real estate agent or the title insurance reps in your area.

Choose a Qualified Real Estate Agent

When it comes to choosing a real estate agent, interviewing several is critical when you want to purchase land. The process is entirely different than buying a single-family home and requires a different set of real estate skills and knowledge.

Look for an agent who specializes in and has lots of experience with selling land. A bonus is finding an agent with construction credentials; he or she will be better able to counsel you about the building aspect of the land purchase.

The most important thing to remember during the purchase process is to not fall in love at first site with any parcel. You never know what lurks behind the public records until you peruse them, so, no matter how ideal a property seems, try to remain emotionally detached while lot shopping.

The Wheaton and Glen Ellyn area currently have 76 pieces of land for sale. To view land for sale in these and other areas, click on the image below or head to WheatonHomes4Sale.com.

What is Mortgage Life Insurance?

The pitch is typically delivered on a postcard that arrives in the mail.

Look closely - it's most likely from your bank, not your insurance agent.

The come-on: If you die (sad music in the background), your family will be forced out of their home if they can't make the mortgage payment. Ah, but wait. A mortgage life insurance policy can put that fear to rest because, when you die, the policy takes care of the mortgage.

Sounds like a great product, right?

Lending industry executives give a resounding "YES" to that question, while those without a vested interest, such as the experts at MotleyFool, caution that, generally,mortgage life insurance isn't necessary, and here's why:

• It's not a good idea to buy any type of one-issue insurance, such as for babies, a single disease, or to pay off the mortgage.

• Your family will have additional expenses, aside from the monthly mortgage payment, in the event of your death. Perhaps taking care of higher interest debt will take priority over paying off the mortgage. Your family doesn't have this choice with mortgage life insurance. The payout goes directly to the lender.

• The value of the mortgage life insurance policy decreases the longer you own it. This is because the insurance company is only on the hook for your loan balance, which decreases over the years, as you make mortgage payments. So, while you'll pay the same premium, the policy payout amount decreases.

Forbes Magazine lists mortgage life insurance among the 15 insurance policies you don't need. The magazine recommends, instead, a good term life insurance policy.
With term life insurance, if you die within the specified term of the policy – typically 10, 15, 20 or 30 years – the policy's beneficiary gets full face value, and the money isn't taxed. The beneficiary, not the bank, determines how best to use the money.
What if you don't die? In that case, the policy ends and you can purchase a new one. While the biggest benefit of a term life policy is its low cost, a second policy will be more expensive. The biggest drawback to term life policies is that there is no face value as there is with a whole life policy.

If you can't obtain life insurance – perhaps you're in poor health – then mortgage life insurance may be a good product for you, according to the Wall Street Journal's Aleksandra Todorova. Blood work and medical tests aren't required to qualify for a policy.
That said, there are usually exceptions to rules, so when reviewing a mortgage life insurance policy, check carefully for a pre-existing condition clause that may be hidden in the fine print.

When considering the purchase of any type of life insurance, it's a good idea to consult with your insurance agent. Ask for a needs analysis – an assessment of your particular circumstances. This helps you determine how much – in dollars – life insurance you need. Once you know that, you'll be able to better compare the different types of life insurance available and the various rates.

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

Latest Breaking News on Housing Market

Visit WheatonHomes4Sale.com to start browsing for homes in your area today!

First up is some positive breaking news for the housing market. Shadow inventory of homes is declining, providing a dose of good news for the glum housing market. Shadow inventory, or homes on the verge of foreclosure, fell to 1.6 million units representing a five-months supply in July compared to 1.9 million units representing a six-months supply a year ago, according to CoreLogic. It’s a good sign that troubled homes, normally headed toward foreclosures, are getting sold faster. Lesser inventory will help stabilize falling prices on homes for sale. Of course we won’t be seeing a drastic change in numbers, but even a small percentage of troubled homes off the market is a blessing for sellers and the industry as a whole.

"The steady improvement in the shadow inventory is a positive development for the housing market," CoreLogic Chief Economist Mark Gleming said in a press release. "However, continued price declines, high levels of negative equity and a sluggish labor market will keep the shadow supply elevated for an extended period of time."

Housing Prices Increase, but not Enough

Some more indication of baby steps toward a market recovery. For the fourth consecutive month, home prices were on the upswing in July compared to the previous month. But the bump wasn’t good enough to give the market a clean bill of health, yet. According to data released by S&P/Case-Shiller Home Price Indices, home prices across 20 major urban areas in July remained flat when adjusted seasonally, and down 4.1 percent compared to a year earlier, despite showing a 0.9 percent gain. The trend of prices rising is a good sign, analysts said.

"With July's data we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices," said S&P's David Blitzer, according to an AFP story. However, he said, "if you look at the state of the overall economy and, in particular, the recent large decline in consumer confidence, these combined statistics continue to indicate that the housing market is still bottoming and has not turned around." Prices across the country were at the level of 2003, according to the report.

Mortgage Rates Continue to Slide

Here’s more music for the ears of potential homebuyers. Nudged by the Federal Reserve’s proposal to reduce borrowing costs, mortgage rates fell to the lowest in Freddie Mac’s recorded history this week. Rates on a 30-year-fixed loan hit an unimaginable 4.01 percent, down from 4.09 percent. On a 15-year loan rates dropped to 3.27 percent. The lucrative rates are aimed to lure consumers toward buying and refinancing their existing mortgages. Many are taking the bait. According to the Mortgage Bankers Association, there was a 9.7 percent rise in loan applications last week. However, a good section of consumers have not been able to take advantage of the rates because of stricter lending standards.

Existing Home Sales Drop

Some good news for buyers which turns out to be not-so-good news for sellers. Sale of existing homes dropped 1.2 percent in August, according to an index by the National Association of Realtors. The measure shows that sales dipped to 88.6 percent in August from 88.7 percent the prior month. The data, which takes into consideration signed contracts but unclosed deals, shows that the numbers are higher when compared to the same period last year, but that’s hardly a consolation since last year’s showing was affected by the expiration of a federal tax credit for homebuyers. Lawrence Yun, NAR chief economist in a press release blamed the numbers on an uneven market.

“The biggest monthly decline was in the Northeast, which was significantly disrupted by Hurricane Irene in the closing weekend of August,” he said. “But broadly speaking, contract signing activity has been holding in a narrow range for many months.” If you are looking to buy, now may be a time to get involved in the market, Paul Dales, senior U.S. economist for Capital Economics, told the Wall Street Journal. But, a lot of people have been unable to cash in on the situation, he said. Some analysts blame the job market and slipping consumer confidence. In these shaky times, many people prefer to rent than invest their savings on a new home.

Information provided by Katie Oakes 

Glen Ellyn Home Prices 2011-2012

Check out the Glen Ellyn housing market in terms of home prices over the past year. Prices for homes listed for sale are up 17% over the year while homes under contract are down about 25% and the prices of homes sold are down even more at 40%. To view more market specific information about Glen Ellyn or your town go ahead and visit http://goo.gl/9WJjw or just go to WheatonHomes4Sale.com!

How to Bid on a Repossessed Home in DuPage County

With the downturn in the economy, many homes have been repossessed or are known as distressed properties. Bidding on a repossessed home can be a great value and save a prospective buyer anywhere from 10 to 70 percent because banks or government agencies are eager to unload the properties. However, when bidding on a repossessed home, the buyer must remit all funds at the time the auction closes. Unless you have a large cash reserve or are able to arrange a large reserve from your lender in advance, bidding on a repossessed home or distressed property may not be possible for the average consumer. Bidding on a repossessed home is also a challenging process that requires extensive research, so some buyers may want to rely instead on the expertise of a real estate agent.

Two Ways to Bid on a Repossessed Home

There are two options for bidding on a repossessed home:

• Through a trustee/lien. All sales are made public knowledge. Check your newspaper or contact your local county courthouse. Before actually bidding on a property, you may want to attend an auction or watch a webcast and see how they operate. Do not bid too early or you will only push the price higher.

• Online. You can also bid on repossessed properties online. Try the websites of Fannie Mae, Freddie Mac, credit unions and major banks. eBay’s real estate section also offers prospective homebuyers the opportunity to bid. If bidding on eBay, you need to know whether you’re bidding on just the down payment or the total amount. Read the fine print, and do your research before bidding.

When you’re ready to bid, contact the lender and make an offer. Read below how to determine the market value and reduce the sales price that’s listed by up to 40 percent. If that offer is declined, resubmit an offer of 30 to 35 percent below market value.

Before Bidding on a Repossessed Home - Research and Inspect

Once you have located a repossessed property you’re interested in bidding on, you need to research the property. Do a title search so you can determine if any back taxes or a second or even third mortgage are due on the property. The winning bidder will be responsible for all debts past due.

You will also want to determine the market value of the property. Look online at your local property appraiser’s office or tax collector’s office. Find recently sold properties that are similar. You can also consult a real estate broker to do this research for you, but they will charge you for this service.

Just as important when bidding on a repossessed property is to inspect the property. Many repossessed homes or distressed properties have fallen into disrepair. If the home needs a lot of work, get an estimate from a reputable contractor. Too many repairs and the home is no longer the bargain you are looking for.

Using a Real Estate Agent Instead of Bidding on Repossessed Homes

Bidding on a repossessed home is challenging and time-consuming. Buying a home is huge investment. Many buyers choose to use a real estate agent to do all the research and background work for them. If this is the route you would rather take, make sure you look for a CDPE (certified distressed property expert). These real estate agents have been trained and certified in dealing with foreclosed or short sale homes.

Should you Bid on a Repossessed Home?

If you have the time and knowledge it takes to do the background research on a repossessed home, you could save yourself a great deal of money off the market value of the home. Keep in mind, however, that you will need to add the cost of any repairs to the home to your bid in order to determine the true savings. If you’re a DIY (do it yourselfer), the savings could be substantial. Doing your homework on the property before bidding is imperative.

If you or someone you know is interested in buying or bidding on a repossessed home or is looking to buy or sell conventional real estate please call or email Katie Oakes with Keller Williams at 630-545-9860 OR WheatonHomes4Sale@gmail.com. For further information or to start viewing properties for sale for free please visit WheatonHomes4Sale.com

Why You Need an eEdge Agent

My Name is Katie Oakes and I am real estate broker at Keller Williams. As an eEdge agent and trainer I stay up to date and current on all of the available real estate marketing and management programs. Call today to see how I can help you to buy or sell a home quickly and efficiently.

How to Choose a Contractor for Your Next Home Remodel

There are referrals and recommendations. Referrals come out of the phone book, off the side of a pickup, from a business card tacked up at the home center. They say who the contractors are but not anything about them. Recommendations carry a judgment, good or bad, and a lot more weight. Instead of saying check the board for business cards, the lumberyard manager says that contractor has been buying here for 25 years, always working, knows his stuff. The best recommendations come from friends and neighbors who have had similar work done, tell you how the job went and let you see the results.

Collect pre-screened names from groups like the National Association of Home Builders and the National Association of the Remodeling Industry. Enter your ZIP code on their sites to see names of local members. Generally, contractors who go through the process of joining national groups and staying active in local chapters have been around for a while — and in the same place. It's difficult to do that through good times and bad unless you're doing a reasonably good job. Online services like Angie's List and Service Magic can provide names. But you don't know the standards of people writing the reviews. They may know almost everything or next to nothing about remodeling and judge jobs very differently than you would.

Interview specs. Referrals and recommendations can steer you in the right direction but can't guarantee great results. More homework is the best bet. Whittle down the list by checking names with local consumer agencies and the Better Business Bureau. If a remodeling contractor has a website, see if it posts the license number, insurance coverage and years in business. Then ask the few at the top of your list to look at the job. Prepare for the interviews on two fronts. First list the job components. You don't have to be a construction expert or even a DIYer to do it. Just be specific. Instead of listing 'new tile floor' pick a product and note the manufacturer, model and size. You can always substitute a similar product before going to contract.

On the second front, prepare a list of the information you'll want about the contractor. It should include his occupational license, proof of insurance (two kinds, for property damage and workman's compensation), years in business and contact information about recent projects. Let each contractor know that you're soliciting other estimates. There's nothing wrong with competition. Don't assume the contractor will handle permits or cart away construction debris. Ask how that works. On both counts — the specs and the occupational questions — look for straightforward answers in plain language. After all, if you have trouble communicating at this stage, chances are it will only be worse once the job starts.--

Visit WheatonHomes4Sale.com to view homes that are listed for sale in your area!





Information and education aid remodel negotiations
By Mike McClintock, Special to Tribune Newspapers

February 2, 2012

9 Steps to Buying a Home

Visit WheatonHomes4Sale.com to browse homes for free or to find more information on the home buying process!

Step 1 – Get ready to buy a home
There are several things you need to contemplate before beginning your home search. When you begin your search, you'll probably want to form an outline of must-haves, get a feeling for what neighborhoods and school districts you'd like to live in, and begin working on your budget. A good rule to go by is that your mortgage payment should be close to a third of your net monthly income.

Step 2 – Get with a real estate agent in Chicagoland.
That's where I come in. I'd be more than happy to schedule a time to meet with you and communicate with you about why you want to buy a home and get an idea of your plans for the future. We'll talk about everything from neighborhoods, school districts in the Chicagoland area, the mortgage industry, to any other economic factors that might affect your buying decision today or in the future.

I can also help you get started on your loan. There are some very good mortgage professionals in Chicagoland, and I partner with a lot of them, so you'll be in great hands. They'll help you decide which kind of loan is best for you, as well as help you get qualified.

Step 3 – Start house-hunting
After we meet, I'll begin looking for available homes on the market that are a good fit for you. I'll get a sneak peek of many of the homes and exclude the bad ones, and then we'll schedule appointments to view the houses when it's convenient for you.
Step 4 – Understand the housing market
An agent's awareness of the Chicagoland area market is an essential component in your house search. And I assure you I'm informed of all the school districts and neighborhoods, and I will alert you to which neighborhoods are "hot" and require prompt action and the ones that are "cold" and allow for cautiousness.

Step 5 – Find the house you've been waiting for
I'm sure we'll find the house of your dreams in the Chicagoland area. When we do, I'll create your purchase offer. The offer will be tailored to suit your needs, including some contingencies, such as acquiring financing, carrying out the inspection, and a clear title. When we present your purchase offer, you'll want to present "earnest money." This is a cash deposit submitted to the home seller to secure an offer to purchase the property. The amount is often put towards the closing costs. If your offer is accepted, we should close on the property about 30 to 60 days after. This allows plenty of time for your mortgage financing.

Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's widely common to receive a counter offer. But don't let this discourage you. We'll consider whether or not to take the counter offer, present our own counter offer, or refuse the seller's offer and move on.

Market circumstances determine how aggressively we negotiate the deal. We'll also work within your financing constraints. And at the end of the day, we'll create a contract that is best for you.

Step 7 – Get a loan
Upon finishing the contract, you'll start working with your mortgage lender to close the loan. This shouldn't take much time at all if you're already pre-qualified, but you need to stay in close contact with your mortgage lender. And I'll handle all the property information your mortgage lender will need to close the loan.

Step 8 – Close the deal
Your lender will send you a Good Faith Estimate (GFE) detailing closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) of your closing costs from your lender within three days of getting your loan application. The estimate is based on the loan amount, and RESPA requirements require that it has to contain all closing costs and be within a tight range of accuracy. I'll analyze the estimate and let you know if everything looks all right.

Then it's time to close on your house. This will most often occur at a title company or escrow office and is often a smooth and easygoing occurrence.

Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything, just contact me at (630) 545-9860-6633 or email me!

Buying a Home in Wheaton or Glen Ellyn

Check out this graph below which accurately depicts the trend of 30 year fixed-rate mortgages in the US over the past thirty years. In 1981 the average home buyer locking in a mortgage received an average interest rate of 16.63%. Over the past 2 weeks, we have seen rates go down as low as 3.75%.  The average interest rate over the 30 year time span was right at 8.74%. If you are on the fence about purchasing, this chart should convince you that buying a home has really never been more affordable.
 
To browse available homes in your area visit WheatonHomes4Sale.com and begin your property search today. Want to learn how to get started in taking advantage of these rock bottom interest rates? Email Katie Oakes at KatieOakes@KW.com .