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Realtors® Team Up to Provide Relief for Area Flood Victims

Our area has certainly been impacted by the recent flooding and there are many Freeport residents that have not received assistance or have not had access to a program to apply for assistance. Our local Realtor® Association- The Realtor® Association of Northwestern Illinois along with the Rockford Area Realtors® and Illinois Realtors® have teamed up to provide $25,000 in grant assistance for Stephenson and Winnebago county flood victims. The grant is made available through the Illinois Realtors® Relief Foundation or IRRF. IRRF is a 501(c)(3) organization that receives tax deductible donations from Realtors® and others to assist disaster victims throughout Illinois. If you would like to make a donation or would like more information on the Realtors® Relief Foundation you can visit their website at: www.illinoisrealtors.org/about/foundations/irrf. As I have said many times throughout my columns, real estate is local. Our local Realtors® live and work here and we do more than just list and sell real estate. We are champions and protectors of property rights and we take pride in our community. When our local residents are affected by a disaster such as the recent flooding we want to help our neighbors. We want to encourage anyone in Stephenson or Winnebago County that has been affected by the flooding to apply for this assistance and as local Realtors® we are here to help you through the process. Each applicant can request up to $500 in grant money which can be used to pay expenses like a mortgage payment, rental fees for temporary shelter and unreimbursed losses directly related to the flooding such as an insurance deductible. The grants are...

What You Need To Know About Lead Paint

Many homes built before 1978 have lead based paint in them which can pose a serious health hazard. Federal law requires that sellers and/or landlords disclose known information on lead based paint hazards before selling/leasing a house. In addition, if you are renovating, repairing or painting a house built before 1978 lead safe work practices need to be followed by lead safe certified contractors. Lead paint can be harmful to children and adults if ingested. Lead paint dust can result from repairs or renovations when lead paint is disturbed, and can be inhaled or it can settle on food or food preparation surfaces and be consumed. Small children may also eat lead paint chips. Lead is especially dangerous to children under the age of 6 because it can affect their nervous systems and brain development and to pregnant women because high lead levels in their system can transfer to the baby and affect fetal development. If you are unsure whether or not your home has lead based paint it can be tested by a trained certified lead paint inspector. You can find local inspectors on the EPA website at www.epa.gov/lead. There are ways to minimize hazards from lead based paint in your home before abatement. Carefully clean up paint chips so as not to create dust, use a mop or sponge with warm water to clean floors, baseboards and window frames and rinse thoroughly and wash children’s hands thoroughly and often, especially before eating. There are other sources of lead in addition to paint that you need to be aware of. Lead pipes in older homes can cause led...

What You Should Know About Homeowner’s Insurance

If you own your home you probably carry homeowner’s insurance on it. If you have a mortgage, your lender will require you to maintain insurance on the property. You probably pay your premiums and don’t think too much more about it, but there are some things you need to know about your policy. The purpose of homeowner’s insurance is to protect you (and your lender) against certain losses and damage to your home. When you first buy your home, your lender will require you to purchase a policy as a condition of the mortgage before you close. If you have an escrow account your future premiums will be paid by the lender from the funds in that account. If you pay cash for your home or you no longer carry a mortgage balance then it will be up to you to determine what kind of coverage you wish to have. The coverage you carry will depend on whether you choose replacement cost or a dollar amount of coverage. Replacement cost will give you the actual cost to replace your home if it is destroyed, otherwise you will receive whatever the dollar amount of coverage you have chosen. If you choose to insure your home for $100,000 and it is destroyed by fire, you will probably only receive up to $100,000 even if it costs $200,000 to replace it. A lender will require you to keep the property insured for at least the amount of the mortgage. A standard homeowner’s policy not only insures the structure but may also cover the personal property inside it and additional structures like garages,...

Tips to Get Your Home Market Ready

The snow is finally gone and you are thinking of getting your home on the market. How do you prepare your home to look its best? Here are some easy tips that will have your home looking market ready and hopefully get you a quick sale. The first step to getting your house ready to sell is a thorough cleaning and de-cluttering. By thorough cleaning I mean wash windows, clean carpets and curtains or blinds, wash light fixtures, clean moldings and baseboards, mop floors, clean cabinets and appliances and thoroughly clean bathrooms including shower walls and doors. In other words, all the jobs that most people have been meaning to do but never quite got to! If budget allows, consider hiring a professional cleaning service to take care of all these jobs quickly. A clean house is perceived as being well cared for by buyers. Now that it is sparkling clean you will need to de clutter as much as possible. Take everything that is non- essential off your kitchen counters, pack up out of season clothing to allow more space in your closets, minimize Knick knacks, collectibles and family photos so buyers can visualize their family in your space. Try to reduce the amount of large furniture pieces if possible so the rooms appear larger and less cluttered. Pack everything away in bins or boxes neatly stacked in the basement or garage. Next tackle those minor repairs you have been putting off like doors that stick, torn window screens, dripping or leaking faucets, missing or cracked grout and burned out light bulbs. These are small items but if...

Freeport Housing Market Outlook for 2019

We are already almost to the end of the first quarter of 2019, so how is our housing market looking so far? That depends on what you are comparing this year to: last year’s numbers or to the State of Illinois as a whole. Let’s start with a comparison to last year’s market at this time of year*. For comparison purposes I am only looking at residential sales, both homes and condos, in Freeport. So far this year we have sold 22 properties in Freeport as compared to 31 last year, which is a decrease of 29%. The average price of the properties sold this year was $70,096 compared with $68,708 last year which is an increase of 2%. So there is good news and bad news: the average sale price is up but the number of sales is down. I’m sure we can all agree that the weather this year could certainly explain the lack of sales so far. The good news is that the average sale price is trending higher than last year. That is good news if you are a seller but maybe not if you are a buyer. Currently we have 49 active listings in Freeport that are either single family homes or condos. The least expensive one is $22,500 and the most expensive one is $489,900 with the average list price of $101,885. The average number of days on the market for these properties is 322. There is a relatively low inventory of homes on the market but that is not unusual for the first quarter. The inventory usually increases dramatically in the spring...

What is the Difference between a Real Estate Broker and a Realtor?

Every Real Estate Broker can’t call themselves a Realtor®. Realtor® is a trademarked word for a real estate professional that belongs to the National Association of Realtors® or NAR for short. Members of this Association are bound by a strict Code of Ethics and Standards of Practice. The Code was first approved in 1913 to set standards for the professional and ethical practice of real estate by it’s’ members. The 17 Articles that make up the Code of Ethics establish a standard of conduct that serves to protect the interests of clients and customers as well as other Realtors®. Failure to abide by this standard can result in disciplinary action. The Code is updated as needed and was just amended in January of this year. The 17 Articles that make up the Code of Ethics also contain Standards of Practice which help clarify the intent of the Articles in day to day practice. A Realtor® agrees to be bound by the Code of Ethics and is therefore held to a higher standard than a Real Estate Practitioner that is not a Realtor®. The Code of Ethics is intended to promote moral and ethical practice among its members, promote competent service to clients and customers and to uphold the public’s best interest and welfare. Realtors® are licensed in the state where they do business and must take continuing education in order to renew their license. In Illinois, our licenses are renewed every 2 years and a 2 ½ hour course on the Code of Ethics is required every time we renew. Each Article in the Code is a rule that...

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