Earnest Money 101
What is earnest money? Earnest money is the amount of money a buyer puts down to accompany an offer to purchase real estate. Basic contract law requires “consideration” as an element of a valid contract. The earnest money deposit is that consideration when a buyer...
Illinois Realtors Celebrate 100 Year History
This year marks the 100th anniversary of the founding of the Illinois Association of Realtors. Illinois was among the first in the country to form a state Realtors Association and is now the 6th largest in the U.S with 44,000 members. The Realtor association...
Buyer Agency Options
In my last column I explained what agency is and why it is important to sellers. This month I would like to explain the different types of agency available to buyers and what you should know about each of them. When you decide to buy a house you will probably work...
What You Should Know About Designated Agency
What is Designated Agency and why does it matter to you? Licensed Illinois Realtors are governed by the Real Estate License Act of 2000. According to Section 15-10 of that Act, “Licensees shall be considered to be representing the consumer they are working with as a...
In January, about a third of the homes on the market sold in less than a month
Excellent news piece on the current real estate trends and marketing ideas to quickly get your home sold.
Income Tax Tips for Homeowners
Its tax time again and if you are a homeowner there are some things you should know before you file your taxes this year. If you are not a homeowner yet, what are you waiting for? Interest rates are not going to get any lower and there are some great loan programs...
Home Décor Trends for 2016
If redecorating is on your to- do list for 2016, here are some of the top trends in home décor for this year and some ideas on how to use them in your home. Some of these trends may be especially useful to you if your house is on the market or you are going to be...
Are You Ready For A Second Home?
It’s winter in northern Illinois and you have been thinking this might be the year to start looking to buy that second home. Whether the warmth of the Florida beaches, the Arizona golf courses or the mountains of Colorado are calling you, there are some things to...
How to Burglar Proof Your Home
September is Realtor Safety Month and that got me thinking about how most of us don’t give enough thought to safety. Your home should be your refuge and the place where you feel safe. Having your home burglarized is a traumatic occurrence that we would all like to...
Fall Home Maintenance Tips
Ready or not fall is here and that means winter isn’t far behind. Take advantage of the beautiful weather now to get your home ready for winter. If you are a new homeowner, you may not know what you need to do to get your home ready for winter. If you have owned your...
New Website for Illinois Property Owners Launches
The Illinois Association of Realtors Real Property Alliance has launched a new website for Illinois property owners: www.realpropertyalliance.org The Real Property Alliance is a non-profit educational foundation for consumers that was founded in 2015. Their goal is...
FICO Score Message From MICHAEL W ERWIN
The trend now is that if a potential buyer does not have perfect credit they are less likely to even try getting preapproved. If you know of someone who might be in this boat please forward this communication to them to let them know, it’s ok to try! They might get...
What is a fixture?
One of the biggest sources of misunderstanding in the sale of a home is what stays with the home and what goes with the seller. At the time of sale, fixtures transfer to the new owner with the property unless they are specifically excluded in the purchase contract....
Can You Afford To Buy A Fixer-Upper?
First, some good news: If you read my last column about the new mortgage disclosure laws going in to effect on August 1, the Consumer Financial Protection Bureau has delayed the start date to October 1. This means the banks, title companies, Realtors and consumers...
Big Changes Are Coming
Beginning August 1, major changes are coming to mortgages. Any real estate transaction involving a mortgage will use new disclosure forms created by the Consumer Financial Protection Bureau (CFPB). This new disclosures will change the timing requirements for...
5 Common Real Estate Myths Exposed
I'm sure most of you have heard some of the common real estate myths out there. Although they may contain some truth, they tend to be fairly black and white instead of the gray area that lives somewhere in the middle. Here are some of the more frequently heard myths...
Tips on Buying Investment Property
Since the housing market crash has made home ownership difficult for many people, the demand for rental property has increased. If you are thinking about becoming a real estate investor there are some things you will need to consider. Before you start looking for...
Thinking of Going it Alone?
It ís already March and Spring is just around the corner. Time to think about getting your house on the market. You may be thinking of trying to sell it yourself to save some money. How hard can it be, right? Here are some things to consider before you stick that For...
Demystifying Property Taxes
As a Realtor, the subject I hear most about seems to be property taxes. No one likes them and everyone thinks they are too high, but they arenít going away. From talking with clients about property taxes I have discovered that there are many people that donít...
Should I List My House In The Winter?
It ís December and you need to sell your house. You are probably wondering if you should try to put it on the market now or wait until Spring. Houses do sell in the winter and there may be some benefits to listing your house this time of year. Everyone knows that the...
My Listing Expired…Now What?
Having your listing expire is frustrating to say the least. The way the Freeport IL area real estate market is right now, there are a lot of homes that don’t get sold by the end of their listing period. The unfortunate fact is that there are about 342 homes and...
Seller Tip #1
I get so many questions from home sellers – from what repairs they should make, to what to do with the dog during showings, that I’ve decided to begin a series on seller tips… Tip #1 – Depersonalize Your House When talking with real estate agents, have you noticed...
Thinking of Selling By Owner? Here’s What An Agent Can Do For You
A lot of people try to sell their homes as For Sale By Owner, and some do get the home sold. Staticstics show, however, than in many cases the sellers would ultimately have been better off in the end to have listed their homes with an agent from the start. Top 9...
Why Does A Short Sale Take So Long?
Contrary to what the name implies, a short sale is usually a very lengthy process. A short sale is the sale of a home for less than the amount owed on the mortgage, and the lender agrees to give clear title to the new buyer. This means that the lender is forgiving the...
Which Home Improvements Really Pay Off?
If you are thinking about tackling a home improvement project this summer, you might be wondering which up-dates will give you the highest return on your investment. Contrary to what you may see on HGTV, you can generally recoup the most value on projects that improve...
Is a Reverse Mortgage Right For You?
If you watch TV, you have probably seen one of the recent commercials featuring a celebrity touting the benefits of reverse mortgages for senior citizens. It sounds too good to be true, right? Actually, it can be a valuable tool for senior homeowners struggling...
Preparing your home for sale
It only takes 15 seconds for a prospective buyer to decide how they feel about your house. That is how long your house has to make a good impression and capture that buyer. If you are getting ready to list your house, here are some tips to make yours stand out from...
Anne Sadler: Should my home be tested for radon?
If you have bought or sold a house in the last several years, you were probably asked if you wanted the home tested for radon. The first thing you need to know is what radon is. Radon is a colorless, odorless radioactive gas which comes from uranium in the soil. It is...