The Blog Dog .net

"Upon Further Inspection"

One of the most important steps in the home buying and selling process is often overlooked: the home inspection. While many buyers and sellers alike are wary of inspections (for fear of finding the dreaded "deal-breaker"), in reality thorough and timely inspections help smooth the process and prevent headaches during or after closing.

The Difference between Appraisal and Inspection

Many consumers are unclear regarding the difference between a home appraiser and a licensed home inspector.  A house appraisal is an independent evaluation of the current market value of the home from your lenders/bank perspective.  Generally speaking, the appraiser's job is to review the property to determine its worth relative to similar properties in the area and recent sales history.  With that value set, the lender can determine how much money can appropriately be loaned to the buyer.  Appraisers typically work for the bank, the FHA, or HUD depending on the type of loan.

In contrast, the house inspector is trained to identify items in the home that need either replacement or repair.  A licensed inspector will carefully examine the home's structural components, heating, cooling, plumbing and electrical systems, insulation, roofing and so on.  A home inspection report will give far more detailed and overall information than a home appraisal.

While an appraiser will perform a walk through of your home, it is typically a cursory examination that lasts between 15 and 30 minutes.  An in-depth home inspection will last from two to three hours.  An appraiser may point out potential problem areas, but they are not trained to spot damage or faulty systems. Only a certified inspector can adequately review the quality and condition of a home for sale.

Seller's Perspective: Informed Buyers, Added Protection

Many sellers choose to have their home inspected before ever putting the property on the open market. Such "presale inspections" are combined with the seller's disclosures to form a comprehensive disclosure package of documents about the home.

Some sellers shy away from this practice, feeling that it is an unnecessary expense when many buyers will obtain their own inspection anyway.  But presale inspections aren't meant to replace the inspection an interested buyer will seek, rather they are meant to increase a potential buyer's knowledge about the property.  Well-informed buyers will be less likely to walk away from a property that they like, and by providing a disclosure package you show buyers that you are negotiating in good faith.

The presale inspection is also a safeguard against potential home defects that might affect a future closing or even worse result in legal action after the sale of the home.  An early inspection can help you identify any items you that will require either repair or disclosure (and possible concessions) as you move forward.

Buyer's Perspective: Cost-Effective Peace of Mind

A presale inspection provided within the seller's disclosure package does not mean that smart buyers should go without a second inspection by an inspector of their own choosing.  In general, a home that has been thoroughly inspected benefits buyer and seller alike.

Buyer-driven inspections are common contingencies in many sales contracts usually within the first 5 days after acceptance.  Sellers must allow the buyer to pick an inspector without restriction.  Look for experienced inspectors with a strong reputation in the community.  Inspectors in Illinois are required to be licensed.

Specialist Inspectors

If the general inspection identifies problems or potential defects, seek a second inspection by a specialist.  The reason for this is simple: while home inspectors are trained to spot defects throughout your home, by their very nature they do not have specific expertise with every single structure or system in the house.  For example, an inspector may cite signs of wear on a HVAC system as possible evidence that a replacement is in order.  Calling in a licensed heating contractor may either confirm the existence of a problem or show that the general inspector was mistaken.

Additional inspections do come with an expense, but they can prevent surprises after closing or eliminate unnecessary repairs, the cost is easily offset.  If the general inspector recommends additional inspections (which is often the case), you should heed the advice.

Finding the Right Inspector

Whether buying or selling, picking the right inspector is an important decision.  A good inspector will be experienced, meticulous and plainspoken.  It pays to use a home inspector with a proven track record in your area.  You'll also want an inspector who will stand by their work and take responsibility for any oversights or errors.  If the inspector is also a general/repair contractor, they should disclose this information upfront.  Both seller's and buyer's agents can typically provide referrals of qualified inspectors. You can also check for local members of the National Association of Home Inspectors (NAHI) or the American Society of Home Inspectors (ASHI), two of the most respected home inspection associations.

National Association of Home Inspectors http://www.nahi.org
American Society of Home Inspectors http://www.ashi.org

Inspect the Inspector Article

What your Inspection should cover

Having someone in your corner with over 20 years experience will ensure every detail of your purchase is handled smoothly! 

LYN SIMS at RE/MAX Suburban (847)230-7324

Northwest Suburban Chicagoland Real Estate in the areas of:  Hanover Park, Bartlett, Streamwood, Elgin, South Elgin, St. Charles, West Chicago, Bloomingdale, Roselle, Medinah, Itasca, Elk Grove Village, Hoffman Estates, Schaumburg.

"Blog Dog"©2008 Lyn Sims

Need a Reason to Sell Your Home?

American home owners sell and move, on average, every five to seven years.  Why do they move?  People who have lived in the same home for the past 30 years have a hard time understanding this phenomena. They are shocked that people move so often, but I know one thing for certain: Their day to sell and move will come as well.

Here are the top 15 reasons why people sell and move:

1) Home is too small.   First-time home buyers often outgrow their "starter" homes.  Increased family size is the main reason home owners say they need a larger home.

2) Upgrade. The grass is greener on the other side.  People often want what they don't have and long for a bigger, more expensive and grander, upscale home. It's the American way!

3) Fix purchase error.  Owners might believe they made a mistake when purchasing their present home and want to rectify that mistake.  Maybe they thought they could get by without a backyard but now want to garden, or the dining room in the center of the house annoys them, or they no longer enjoy the underbelly of planes flying overhead within miles of the airport.

4) Job transfer.  Relocation makes it necessary for many to pull up roots and move.  If the commuting distance exceeds an hour, most people would prefer not to spend two hours in traffic every day.   Now that gas is knocking at $4.00 per gallon, people are definitely rethinking their commute!

5) Personal Relationships.  Moving in with a partner or getting married can mean one of the parties will need to sell, especially if both owned homes prior to the commitment. On the other hand, break-ups cause owners to sell as well for three basic reasons.

• One party may need to buy out the other and not have the cash available.
• The home may not be affordable to sustain on one person's income.
• The home holds bad memories, making a fresh start more desirable.

6) Neighborhood changes.  The neighborhood might have changed for the worse, economically, socially or physically.  For example, maybe a freeway was constructed nearby.  Maybe the next-door neighbors receive visitors who arrive wearing striped pajamas at 2 AM.  Or they have hung sheets over their windows while a skunk-like odor permeates the air.

7) Empty nest.  The kids have grown up and moved out. The owners want a smaller home. The older you get, the harder it is to keep a big house clean.

8) See family more often.  Some people want to be closer to their family as they age and will move to be near relatives.  Parents want to be near children. Grandparents, near their children and grandchildren.

9) See family less often.  To put more distance between the home owners and relatives.  Some might move out of state to keep harmony within the family.  Dysfunctional and fractured families have been known to blossom being separated.

10) Retirement.  Active-adult communities are attracting many buyers over the age of 55.  These planned communities have golf courses, club houses, workout facilities, week-end social gatherings, back-yard barbecue parties and more, all designed for people over 55.   No more yard work - woo hoo!

11) Health problems.  Physical ailments such as knee or back problems make it difficult for an aging population to climb stairs in a two-story, so a one-story home may be more practical.  A trade-off solution for many elderly people who don't require round-the-clock care is to buy a condo or move into assisted living housing.

12) Deferred maintenance.  Some people don't want to put on a new roof, replace the siding or buy a new furnace, so it's easier to buy a newer home.  When you figure the life of most home systems is about 15 years, it could make sense to get out before everything goes haywire.

13) Home improvement perfection.  A small segment enjoys fixing up and selling, spending time, money and effort on remodeling, and once the work is completed, these people become restless because there is nothing left to do.  Some of you may call these people obsessed, but for some, it's a way to maintain balance while mastering a hobby.   This is also a good way to build equity quickly for young or newer homeowners who enjoy the work and take pride in their accomplishments.  Fixer-uppers here they come!

14) Cash in equity.  Some home owners can't stand the fact their home is worth all that money because that money is not in their pocket.  These people would prefer to stare at their passbook savings than stare at four walls with empty pockets.  They. Just. Want. The. Money.

15) Lifestyle change.  Others are simply tired of owning a home and would prefer to travel, pursue a hobby or be less responsible.  We used to call these people misfits or boomers, but many past a certain age want to find a calling that is meaningful to them.  So, for these people, home ownership loses its priority status and turns into the ticket for realizing dreams.

Thinking of moving soon?  Whatever the circumstance, I'll be able to get you on your way!  20+ years experience in the Northwest Chicago Suburbs.

Website Presence:  www.LynSims.net          Email me:  LynSims@remax.net

Lyn Sims at RE/MAX Suburban (847)230-7324  

Northwest Suburbs of Chicago:  Bloomingdale, Roselle, Bartlett, Schaumburg, Elk Grove Village, Medinah, Itasca, Palatine, Carol Stream, Hanover Park, Hoffman Estates, Streamwood, Elgin, South Elgin, St. Charles.

"Blog Dog"©2008 Lyn Sims

5 COMMON FIRST-TIME HOME BUYER MISTAKES that Lyn Sims at RE/MAX Suburban doesn't want her buyers to make!  Guiding her buyers with over 20 years experience, she can help you find the best home in the Northwest Suburban Chicago IL Market.

1.  They don't ask enough questions of their lender and end up missing out on the best deal.

Lyn's Comments - All lenders do not carry the same financing. Some do not handle FHA loans or loans with more flexible qualifying ratios that a first-time home buyer might need in order to get into that first home.  I can point you in the right direction so you get the best financing for you.  You MUST be prequalified for a loan BEFORE you begin your home search.

2.  They don't act quickly enough to make a decision and someone else buys the house.

Lyn's Comments- I'll help provide you with the information you need to make a confident decision.  Real Estate is local and each neighborhhood is unique.  I can show you which areas are on the upswing and which are not. 

3.  They don't find the right agent who's willing to help them through the homebuying process.

Lyn's Comments- Not all real estate agents are equal.  Not all real estate agents do this full-time.  Some of us have actually perfected their craft and know the in's and outs of each neighborhood you might be interested in.  I have been in the area for over 20 years and I understand the trends both past and present.  Did you know that a hiring a Realtor won't cost you a thing?  That's right nada - zip - zilch.  Why not take advantage of my expertise?

4.  They don't do enough to make their offer look appealing to a seller.

Lyn's Comments- The sellers main concern is whether you can complete the transaction with your financing!  He says - Show me the money!  That's why going and getting pre-approved is a must.  Low-balling a seller will do nothing for your negotiations but give you a black eye!  There's a misguided "Chicago" adage that says "let's start $20,000 under list to see what they will do".  Well, in my experience I can assure you it'll be nothing!

5.  They don't think about resale before they buy. The average first-time buyer only stays in a home for four years.

Lyn's Comments- I am able to show you the market trends going back as many years as you would like.  The MLS data available to me can tell you the average increases or decreases in a particular neighborhood.  I also have statistics giving you town to town appreciation increases over a period of years.  All this information and expertise can help you make a great buying decision.

Lyn Sims at RE/MAX Suburban can be reached at (847)230-7324  OR  you may email her at LynSims@remax.net with any questions you might have regarding home ownership.

Have someone in your corner with over 20 years experience will ensure every detail of your purchase is handled smoothly!

Lyn handles the Northwest Suburban Chicago Market Areas of:   Elgin, Streamwood, Bartlett, Hanover Park, Hoffman Estates, Elk Grove Village, Medinah, Itasca, Roselle, Bloomingdale, Carol Stream, South Elgin, Schaumburg and St. Charles.

              Tips for First-Time Home Buyers

             Ten Steps to Prepare for Home Ownership

 

"Blog Dog"©2008 Lyn Sims

Selling a Home?  Avoid these Common Home Buyer Turnoffs

Are you selling your home? Did you know that even though buyers are looking for something different, the majority of them will turn around and walk back out the door if they notice one or more of these ‘Top 10 Problems'.

1.      Odors

House odors are number one on the home selling uh-oh list.  And narrowing it down, odors from cigarette smoke and pets take top billing, with mildew not far behind.  If you smoke indoors - the house smells like cigarettes.  If you have pets, the house might smell bad - even if you don't notice it.  Ask someone who doesn't live there to take a sniff, and don't get angry when they tell you the truth.  Eradicate the odors so that you can present potential buyers with a clean, fresh atmosphere - not a house that's full of perfumes to cover up the other odors.

2.      Dogs that Meet You at the Door or in the Driveway

Dogs frighten some people and irritate others. You'll have a much better response from showings if you control your pets - dogs, cats, whatever.   You say you plan to put them in a bedroom or garage and then ask people not to open the door to that area?  Bad idea.  Would you buy a house you can't inspect?  Of course not.   Remove pets during showings if possible.  If you can't, contain them in crates for their own safety and to show respect for the feelings of potential buyers.

 3.     Dirty Bathrooms

Grimy bathrooms are an instant turnoff.  Scrub them, paint them, buy a new shower curtain, rugs and towels - do what it takes to make them shine.  If you're serious about selling the home, the extra work is a must.

4.    Dimly Lit Rooms

Dark homes are a turnoff to most home buyers, so try to brighten them up:

• Replace dim light fixtures or use higher wattage bulbs
• Install additional light fixtures
• Install (quality) sun tunnels or skylights
• Remove heavy drapes to let the light stream through windows
• Repaint some rooms with colors that reflect light
• Trim tree limbs that shadow the house

Dirty and fogged windows are another buyer turnoff.  Clean them inside and out to bring in more light.  If possible, replace any double-pane windows with broken seals.  You can find them by looking for a foggy residue (looks like milk on the glass) that cannot be removed.

5.   A House Full of Busy Wallpaper

Busy wallpaper in every room turns off most buyers, and even people who love wallpaper rarely like what you've chosen.  It's a personal decorative touch that they want to select themselves.    It's the masses you must appeal to when you're selling a home, so take a hard look at your wallpaper and decide it should be removed and replaced with paint.  Don't paint over it, because it will be obvious that you did - and buyers know that makes removing it even more difficult.

6.  Damp Basements

Dampness or damp smells in the basement throw up a red flag to buyers that the foundation leaks!   Most problems we see are not caused by faulty foundations. They occur because rainwater is being diverted towards the foundation instead of away from it.

• Clogged underground drains
• No rain gutters along roofline
• Downspouts aimed the wrong way

Go outside the next time it rains and determine where that runoff water is going.

7.   Bugs

Roaches, ants, spiders, any insect that shouldn't be in the house. Get rid of them!

8.   Poor Curb Appeal

You must grab a buyer's interest from the curb if you want to sell the home for top dollar.  Home buyers often refuse to go into a house with an unkempt yard, sagging doors or peeling paint. You say you can't afford to paint?  You can get that yard in tip-top shape and grab a screwdriver to fix those doors and cleaning doesn't cost a lot of money!  Clean the front door and ‘welcome' the buyers into your home.

 9.   Gutters with Plants and Small Trees Growing in Them

I'm serious!  Some people never clean their gutters, and it always makes buyers wonder what else hasn't been maintained.  Remember the drainage issue in #6?  Cleaning packed gutters might help.

10.   Sellers Who Hang Around for Showings

Yes, you ... leave the house during showings.  Home buyers feel awkward about opening closet doors and lingering for a really good look at the house if the seller is home.  Remember, hovering is for helicopters so give the buyers space when they need it most.

My Parting Words

Most of the Top 10 problems are home selling issues you can correct without spending a lot of money. Do it now, before you put the house on the market, because if your house develops a reputation among agents as the house that smells, the house with the huge barking dog or the house where the owner won't leave people alone, it will be too late. Your house will be last on their list to show potential buyers.

Lyn Sims (847)230-7324          Direct Home Search MLS Access           http://www.lynsims.net/ 

Email:  LynSims@remax.net

Lyn Sims at RE/MAX Suburban is a 20+ year veteran agent who works the Northwest Suburbs of Chicago in Streamwood, Hoffman Estates, Elk Grove Village, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Schaumburg, Elgin, South Elgin and St. Charles.

"Blog Dog"©2008 Lyn Sims

Looking for a home in the Hanover Park area?   This is a great time to get your first home, move to a smaller home, or move to a larger home.  Interest rates are stable and recently lowered despite all the negative media hype and is available to all with fairly decent credit.  In fact, YES, I STILL DO HAVE LOTS OF UNIQUE FINANCING AVAILABLE. 

These are the current market numbers and availability for single family homes in Hanover Park IL.  Lots of great selections below the $250,000 range and we've got great custom construction for price ranges above that!  The median listing price for Hanover Park is $234,900.  Some "handyman specials" and "fixer uppers" are available for buyers trying to get instant equity in the market by doing the work themselves!

To search for homes and up-to-the-minute MLS availablity in the surrounding Hanover Park area, please go directly to my HOME SEARCH WEBSITE to get started.  Other interesting articles for sellers or buyers are also available at www.LynSims.net to make you market "savvy" before you start your home adventure!

Hanover Park is located in both Cook and DuPage Counties and has two school districts - U46 Consolidated and District 54 in Schaumburg.  I can provide lots of information about school districts and the schools themselves.

Area Market Survey Criteria Status: Active   Single Family Homes Available    8/28/2008

Lyn Sims at RE/MAX Suburban (847)230-7324

List Price Range # Listings Avg. Days on Mkt Less than $149,999 3 187 $150,000 - $199,999 34 162 $200,000 - $249,999 88 169 $250,000 - $299,999 47 215 $300,000 - $349,999 6 169 $400,000 - $449,999 1 289 $450,000 - $499,999 1 70 $800,000 - $899,999 1 37

Active Listings Summary

# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 181 179 $234,900 $239,589 $879,000 $139,800

If you are looking to buy or sell a home in the Hanover Park area, please feel free to contact Lyn Sims at REMAX Suburban at (847)230-7324 or (800)637-9345 Outside IL.  I can provide you with information on many of the areas communities that would be right for you! 

Email Lyn now with a question or ask for more information!

Lyn Sims and that darn "Blog Dog"

20+ years Experience working in the Northwest Chicagoland Suburbs of Hanover Park, Hoffman Estates, Bartlett, Schaumburg, Streamwood, Elgin, South Elgin, Elk Grove, Roselle, Medinah, Itasca and St. Charles areas.

"Blog Dog"©2008 Lyn Sims

There is a large amount of inventory thruout the Chicago Northwest Suburban Market which includes the Bartlett IL area.  SMART PEOPLE ARE BUYING REAL ESTATE NOW!  Sellers are hot to compete and make their home standout above their competition.  Sellers are flexible!  Lots of Inventory = Buyer Benefits  SO WHY NOT GET IN THE GAME?  This is a great time to get your first home, move to a smaller home or get that larger home of your dreams!  To some buyers 100% financing is still available with a decent credit score and history!

Here is a chart of ACTIVE homes in Bartlett with the MARKET TIMES posted as "Average Days on the Market". 

There are currently 281 homes in various styles and types available with the Average Market Time of 147 days.  The median price is $354,900 and the highest price is $7,800,000 Yikes. 

Reasons to buy in Bartlett - Why it's such a popular community!

Area Market Survey Criteria Lyn Sims at RE/MAX Suburban (847)230-7324

Active Listings for Bartlett IL

List Price Range # Listings Avg. Days on Mkt $150,000 - $199,999 1 4 $200,000 - $249,999 16 132 $250,000 - $299,999 51 147 $300,000 - $349,999 71 128 $350,000 - $399,999 46 148 $400,000 - $449,999 34 118 $450,000 - $499,999 17 216 $500,000 - $549,999 14 118 $550,000 - $599,999 8 141 $600,000 - $699,999 15 229 $700,000 - $799,999 5 268 $800,000 - $899,999 2 217 $5,000,000 - And Over 1 35

Active Listings Summary

# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 281 147 $354,900 $417,195 $7,800,000 $199,900

As As you can see the average bracket of pricing for the Bartlett Area is between $300,000 to $349,900.  To search for homes up-to-the-minute on the market in the Bartlett IL area, please go directly to my MLS search website at www.LynSims.net. 

If you are looking to find or sell a home in the general Bartlett IL area, please feel free to contact Lyn Sims of RE/MAX Suburban at 847-230-7324 or 800-637-9345.  I can provide you with information on many of the areas communities.

Contact me, I'm ready to buy or sell a home!

Lyn Sims RE/MAX Suburban 847-230-7324 or 800-637-9345 Outside IL.

Northwest Suburbs of Chicago IL - Bartlett, Schaumburg, Hoffman Estates, Elk Grove Village, Medinah, Itasca, Roselle, Bloomingdale, Hanover Park, Streamwood, Elgin, South Elgin, Carol Stream and St. Charles areas.

"Blog Dog"©2008 Lyn Sims