You want to get your home sold in todays buyers market, what do you need to do?

Not only do you need to get the offer, you need to negotiate, accept, and get to the closing with little or no problems. Here are some great tips on getting a buyer and keeping them to the closing table.

 

 

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
6159 Indian Trail Rd	4	2.1	Somerset	Unfinished Crawl	284,900
6271 Sleepy Hollow Ln	3	2.1	Newport	Finished, English	289,900
124 Knob Hill Lane	4	2.1	Glenhaven	Finished	289,900
200 Pheasant Meadow	4	2.1		Crawl	329,000
232 Saratoga Ct	3	1.1	Heritage	None	229,900
6200 Indian Trail Rd	4	2.1	Somerset	Unfinished Crawl	294,000
6183 Old Farm Ln	4	2.1	Bedford	Partial, Finished Crawl	374,999

Status	Address	Bdrms	Bath	Model	Bsmt	Asking Price
A/I	6152 Indian Trail	4	2.1	Somerset	Finished	329,000
A/I	276 Southridge Dr	4	2.1		Unfinished	300,000
A/I	6289 Wildflower	4	2.2	Bennington	Finished, English	449,900

Address	Model	Asking Price	Sale Price	Closed Date
213 Southridge Dr	Regency	272,500	262,000	5/28/2010
6413 Plainview Dr	Newport	289,000	247,000	4/14/2010
221 Saratoga Ct	Westbrook	310,000	305,000	3/12/2010

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
34230 Lavender Cir	4	2.1	Custom	Full	289,900
18275 W Springwood Ln	4	3		Finished, English	319,500
34056 N Sulkey Dr	4	2.1	Creston	Unfinished	329,900
34366 Tangueray Dr	4	3.1	Lynhurst	Finished	339,000

Status	Address	Bdrms	Bath	Model	Bsmt	Asking Price
A/I	18268 W Meander Ct	3	3.1	Ellington	Finished	314,800
A/I	18367 Springwood Dr	4	2.1	Carlisle	Partially Finished	299,900

Address	Model	Asking Price	Sale Price	Closed Date
18356 Springwood	Warwick	326,900	315,000	3/12/2010
18436 Springwood	Brookdale	299,900	297,000	4/30/2010
18352 W Meander		269,000	255,000	4/27/2010

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
1632 Normandy Woods	4	3.1	2 Story	Finished	309,900

Status	Address	Bdrms	Bath	Model	Bsmt	Asking Price
A/I	1681 Normandy Woods	4	2.2		Partial Finished	299,900

For Rent! Fantastic Home for this price! Call, see, make an offer before its gone!

 

Address	Bdrms	Baths	Style	Bsmt	Asking Price
1221 Sandpiper Court	4	3.1	Fairfield	Partial, Crawl, Finished	310,000
1172 Mockingbird Ct	3	2	Ranch	Unfinished	390,000

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
1380 Brighton Ln	4	2.1			162,000
1390 Brighton Ln	4	2.1		Finished	175,000
1454 Carriage Ln	3	1.1	Tri Level	English, Sub	194,500

Address	Model	Asking Price	Sale Price	Closed Date
1357 Regency Ln	Ranch	175,000	168,000	4/1/2010
1414 Carriage Ln		175,000	175,000	5/27/2010

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
38 Highland Rd	4	3	Madison		319,000
212 Killarney	4	3.1	Hampton	Finished	320,000

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
226 Lexington Ct	4	4.1	Weston	Finished	299,900
778 Oakmeadow Ct	4	2.1	Gatewood	Unfinished	275,000
1315 Lily Ct	4	2.1	Princeton	Finished	239,900
1347 Locust	3	2.1		Unfinished	139,900
1306 Woodside Ct	4	2.1		Full	190,000
552 Fairfax	4	3		Partial Finish	279,900
285 Penny Lane	3	1.1	Linden	None	179,900
1365 Amber Ct	3	2.1	2 Story	Unfinished	234,000
1303 Lily Ct	4	3.1	Princeton	Finished	249,900
1341 Woodside Ct	4	2.2	Fairbanks	Finished	287,900
1193 Warwick	4	2.1	Exp. Edison	Partial Unfinished	291,000

Status	Address	Bdrms	Bath	Model	Bsmt	Asking Price
A/I	248 Arlington Ln	3	2.1		Unfinished	209,000
A/I	370 Lexington Ln	3	2.1	Windsor	Finished	214,000
A/I	1119 Chesterfield	4	2.1		Unfinished	295,900

Address	Model	Asking Price	Sale Price	Closed Date
1345 Lily Cr	Fairfield	207,000	192,000	3/5/2010
412 Lexington Ln		204,900	197,000	5/14/2010
502 Fairfax Ln		199,800	191,000	5/18/2010

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
513 Trestle Ct	4	2.1		Finished	249,000

Status	Address	Bdrms	Bath	Model	Bsmt	Asking Price
CTG	301 S Sommerset Dr	4	2	Vintage	Unfinished	210,000
CTG	428 Signal Ln	4	2.1		Full	289,000

Address	Model	Asking Price	Sale Price	Closed Date
568 Trestle Ct	Custom	283,000	265,000	5/27/2010

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
15632 W Sprucewood	3	2	Tiptop	Finished, English	309,000
15049 Redwood	5	2.1	Custom	Full	379,000
15337 W Clover Ln	3	1.1		Partially Finished	359,000
15670 W Idlewood	4	4		Full	390,000
15384 Wildwood	3	2	Ranch	Partially Finished	339,000

Address	Model	Asking Price	Sale Price	Closed Date
15358 Fair Lane		243,900	267,000	4/21/2010
15100 W Clover Ln	Ranch	494,000	450,000	2/28/2010

Address	Bdrms	Baths.	Style	Bsmt	Asking Price
1131 Chesapeake Blvd	3	2.1	Chelsea	Finished	199,900
276 Carters Grove	3	2.1	Bennington	Finished	249,999
1097 Talbot Ln	3	2.1	Chelsea	Finished	210,000
1002 Popes Creek Cir	3	2.1	Chelsea	Unfinished	244,900
1193 Popes Creek Cir	3	2.1	Ashley	Crawl Space	199,900
131 Crisfield Dr	3	3.1	Harlequin	Finished	265,000
1149 Popes Creek Cir	3	2.1	Ashley	Finished	225,000
116 Bay View Ln	3	3.1	Harlequin	Finished	269,900
104 Suffolk	3	3.1	Abbey	Finished	284,900
1053 Popes Creek	4	3.1	Dalton	Finished	309,000
61 Crisfield	3	3.1	Harlequin	Finished	239,900
93 Jamestown	4	3.1	Dorchester	Finished	425,000
1657 Fairport	4	2.1	Dryden	Partially Finished	288,900
405 Rock Hall Circle	3	2.1	Chelsea	Finished	274,000
1369 Belle Haven	3	3	Drake	Finished	209,000
1136 Williamsburg	4	2.1	Chesterfield	Finished, English	339,000
269 Carters Grove	4	2.1	Bennington	Finished	265,000
380 Rock Hall Circle	4	2.1		Finished	259,900
383 Rock Hall Circle	3	2.1	Dalton	Full	249,000
1402 Belle Haven Dr	3	2.1	Goldcrest	Finished	239,000
1137 Popes Creek Cir	3	2.1	Chatham	Finished	255,000
1054 Williamsburg	4	2.1	Allenton	Unfinished	329,000

Status	Address	Bdrms	Bath	Model	Bsmt	Asking Price
CTG	1580 Oxford Circle	3	2.1	Harlequin	Unfinished	250,000
CTG	1169 Popes Creek	3	2.1	Ashley	Finished	218,500
A/I	353 Rock Hall Circle	3	2.1		Full	209,900
A/I	374 Rock Hall Circle	3	2.1	Beckett	Full	234,800
CTG	1052 Talbot Ln	3	2.1	Chelsea	Finished	244,900
A/I	1532 Oxford Circle	3	2.1		Finished	200,000
A/I	1549 Fairport Dr	3	2.1	Goldcrest	Finished	199,900

Address	Model	Asking Price	Sale Price	Closed Date
1681 Fairport		264,900	255,000	3/31/2010
928 Tylerton Circle	Dalton	290,000	255,00	5/13/2010
215 Carters Grove	Chatham	270,000	260,000	4/15/2010
1489 Belle Haven Dr	Goldcrest	169,900	150,000	4/14/2010
432 Rock Hall Cir	Easton	199,900	180,000	3/24/2010
317 Rock Hall Circle	Becket	299,00	288,000	4/29/2010
847 Chesapeake Blvd		215,000	205,000	5/13/2010

How To Show Your Home For Maximum Profit

      There’s a right way to show a home…and a wrong way.  Many homeowners lose money, or turn-off buyers because they simply didn’t know how to handle a home showing.  Here are 13 tips that will help you show your home for maximum profit:

Tip #32:  Save those receipts.  If you completed any substantial work on your home, save the receipts and ONLY take them out if someone questions the value of the work performed (in the negotiating process).  Many times extra work will increase the value of your home beyond your costs.  So only use the receipts if you need support to justify the work.

Tip #33: Save those utility bills.  Buyers frequently have questions about utility costs of owning a home.  If you have past utility bills, you will greatly increase your credibility and help provide precise answer

Tip #34:  Go away during organized showings.  Three’s a crowd when your home is being shown.  The only exception to this rule is if you have specific knowledge about features of the home a Realtor cannot answer.  But in most cases, don’t stay.

Tip #35:  Turn on ALL lights.  Illumination is like a welcome sign. 

Tip #36: Open all drapery and bring in as much natural light as possible.  Buyers hate dark homes.  Anything you can do to brighten your home will help.

Tip #37:  Turn off any radios and TV’s.  Turn off the football game.  Tell the kids that the loud music will need a reprieve while the home is being shown.  Occasionally very soft, background music can enhance a showing.  But generally, no music at all is your best bet. 

Tip #38: Plan a pleasant aroma.  Cinnamon sticks or vanilla boiled in a pot of water on the stove emit pleasant aromas and make a home smell inviting.  Apple and cherry wood smoldering in a fireplace do the same.  And who can resist the smell of apple pie or fresh bread baking in the kitchen.  Often, these pleasant smells can override other odors your home may have.

Tip #39: Keep pets out of the home during showings.  It’s best to keep them out of the home for an entire day before an open house.

Tip #40:  Do NOT volunteer conversation.  Be courteous but don’t force conversation with a potential buyer.  They want to inspect your home, not make a social call.

Tip #41:  Stay positive:  Never apologize for the appearance of your home.  Let the showing Realtor answer any objections – they’re trained to know how.

Tip #42:  DO NOT Tag Along.  It makes buyers fearful and uncomfortable.  The showing Realtor knows the buyer’s requirements and can better emphasize the features of your home.  They will call you if needed.

Tip #43:  Never negotiate during a showing.  Let your Realtor discuss price, terms, possessions, and other items with any potential buyers.  If any negotiations arise prior to an offer, politely request the buyer to submit an offer and you can consider it.

Tip #44:  Protect  Your Largest Investment By Getting REALTOR^® Representation

Someone with vast experience and extraordinary professionalism usually costs the same as someone with little or no experience, or with compromising standards.  You need to know how to tell the difference up front. 

Choosing a competent and experienced realtor can mean the difference between a higher negotiated sales price and losing money, selling in less time or in more time (costing you potentially $1,000’s in added interest), and experiencing problems and hassles or a problem-free transaction.

Our community is loaded with agents who are wrong for you, your area, and your home.  Some agents are in business part time for a little extra cash.  Others are subsidizing other businesses or careers.  And then there’s your “cousin Harry,” whom you feel obligated to because he “really needs your business.”

Selling your home is probably the most important financial transaction you will ever make. That’s why I take my business so seriously.  It’s also why I have developed customized home marketing programs meant specifically for your situation. Just give us a call to learn more at 847-987-4941

The Interior Of Your Home!

      There’s a little known secret about home buyers that you need to know.  People buy homes based on the emotional FEELINGS they get from the home.  They fall in love, for example, with the kitchen or the master bedroom.  Or perhaps the roaring fire in the family room fireplace touched off an old memory.

      And while they’re viewing your home, they’re visualizing in their mind’s eye what it would be like to live there – the backyard barbecues they’ll host…Sunday dinners with family…college graduation celebrations of their children.  Or simply relaxing in the backyard hammock.

 It’s all about emotions.  And if your home doesn’t feel right, you will quickly lose interest from buyers.

 So remember this: Purchase decisions are EMOTIONAL.  Once a decision to buy is made, we usually justify our purchase with logical reasons. 

 By dressing the interior of your home right, you’ll encourage your buyers to stay.  People buy with their eyes, ears and noses, and the longer they stay in your home, the greater the likelihood of an offer.

Here are 18 interior tips to help you “dress” the interior of your house so it feels like home to your buyers.

 Tip #14: The entry way sets first impressions.  So make sure it’s in great condition with fresh paint and clean floors.  If the entry tile floor has build-up, consider using a commercial stripper and re-waxing.

Tip #15: Clear out about one-third to one-half of your furniture.  You want your home to look uncluttered, and the rooms to feel open and bright.  The average home has too much furniture for showing, and you need to move anyhow.  So you might as well pack away any furniture that clutters any rooms in the home.

Tip #16: Put away nick-knacks and items that make the home look overly personal to YOU.  You do not want your buyer feeling that they would never fit in the home because it has so many of your personal items in it.  Put away cluttered photos and other objects that will detract away from the home.

Tip #17: Do a thorough interior maintenance review.  Oil squeaky doors, tighten doorknobs, clean and repair ALL windows, and repair leaking taps and toilets.  Look for chipped paint and cracked plaster or drywall that needs repairing.

Tip #18: It is a good idea to have all windows professionally washed.  And clean all window shades and blinds. 

Tip #19: Replace all burned-out light bulbs and clean lighting fixtures.

Tip #20: GIVE YOUR HOME A SPACIOUS LOOK.  If you’ve ever toured a model home, you’ve noticed that the home is spacious and bright.  Make your home look the same by: 1) Clear out stairs and halls of clutter and excess furniture, 2) Clear counters in the kitchen and bathrooms, and 3) Make closets and storage areas neat and tidy.

 Tip #21: Make sure your home is clean by doing the following:  1) Shampoo carpets, 2) Clean washer, dryer, and laundry tubs, 3) Clean the furnace, 4) Clean the refrigerator and stove, 5) Clean and freshen the bathrooms.  Hire a professional cleaning service if needed.  The money you spend on these areas will come back to you in purchase price.

 Tip #22: Wax or polish floors, and glue down any seems if you have vinyl flooring.

 Tip #23: Make sure windows and doors operate properly and lubricate closet door tracks with a silicon spray.

 Tip #24:  Glue loose wallpaper seams and remove soiled wallpaper.

 Tip #25: Clean around fireplaces and remove ashes.

 Tip #26: Organize all closets, pack up unnecessary items for storage, and put all toys away.

 Tip #27:  Make sure all beds are made, bedrooms are neat and clean, and laundry is clean and folded.

 Tip #28:  Consider holding a yard sale BEFORE you place your home on the market to get rid of excess items that can make your home look cluttered or small.

 Bathrooms and kitchen are some of the most influential areas of a home.  Spending a small amount of money in these areas frequently nets owners many times their investment.  Here are a few suggestions for each.

 Tip #29:  Your Bathrooms.  Repair loose tiles.  Remove loose grout using a grout file, and apply new grout.  Faded tile colors can be improved using an epoxy spray.  Remove old tub and tile caulking with a hooked scraper, install new white silicone tub, and tile caulk.  Concentrate on areas such as counter corners, shower corners, and base of toilet.  Clean mildewed caulk by spraying Tilex, or use diluted chlorine bleach and let stand for at least 30 minutes before rinsing.  Old tubs can often be sprayed with an epoxy coating.  Remove all soap scum and dirt build-ups.  Again, diluted chlorine bleach will help here.  Clean glass doors with vinegar, and replace badly soiled shower curtains.  Don’t forget to vacuum exhaust fans.

 Tip #30:  Your Kitchen.  Clean ovens thoroughly.  Clean cook tops and exhaust fans.  Remember to clean behind your appliances.  Double-check all burners to make sure they’re working.  Defrost freezers, and thoroughly clean the interior of your refrigerator.  Remove mold from refrigerator gaskets.  Empty the water collection tray under the refrigerator.  Neatly arrange soaps and cleaning accessories.  Thoroughly wash fronts of cabinets using Murphy’s Oil Soap or Pine Sol.  Cover counter burns with ceramic tile or heat resistant glass.  Make sure all handles are securely in place.  Install new shelf and drawer liners.

Tip # 31: Save your receipts.  If you need to make substantial repairs to your home, save the receipts in a manila envelope.  This will show what has been updated in the home.

If you are ready to list your home give us a call at 847-987-4941. We will "leave the lights on" as they say.

When you are thinking about getting your home on the market and ready to sell in Lake County Illinois, pay attention to the exterior of the home. This is the first impression you are going to give the buyers.   

Overall, buyers are looking for a home that looks clean, neat, and well-maintained.  By addressing exterior issues, you immediately give your buyers a positive “first impression.” 

Here are 13 first impression items to examine:

Tip #1: Get into your car and drive away from your home.  Drive towards your home the way a potential buyer would.  Notice your first impressions of your home. Is the landscaping well groomed?  How about the driveway and curb?  Can you easily see the architecture of the home, or is it blocked by trees and bushes.  Notice your roof.  Is it in good condition?  Make a list of items that need attention.

Tip #2: Paint your front door and mailbox.  Polish your door and entry hardware.

Tip #3: Make sure your doorbell is functional.

Tip #4: Wash or thoroughly clean wood, aluminum, and vinyl sided homes.  You can hire a contractor to pressure wash an entire house for about $200.  Pressure washing can remove dirt, grime, peeling paint, and mildew.

Tip #5: Rake leaves, trim shrubbery and trees, cut the lawn, and plant a few new, fresh flowers.  Put down fresh mulch or peat moss around shrubs and flower beds.

Tip #6: Sweep and hose off the walkways and driveways.  Pressure wash if necessary.

Tip #7: Clean the gutters and extend downspouts to prevent flooding or basement water seepage.

Tip #8: Organize the garage.  Get rid of clutter by either putting it in boxes, or pack ahead of time and rent a storage locker for your garage belongings.  Make sure you wash your car.

Tip #9: Check the locks of your home at both the entry, back entry, and garage.  Locks can give a first impression of a home that needs maintenance.  And they’re the first thing a buyer sees.  A small dab of graphite will make them work like new.

Tip #10: Clean oil stains from your driveway and garage.  This is best achieved by using poultice with Portland cement.  Scrub with a detergent and rinse.  Clean rust stains beneath rails with the commercial product, Zud.

Tip #11: Clean up any litter in the yard or walkways.  Remove any leaves or debris in the yard or walkways. 

Tip #12: Touch-up the paint on the exterior of the home if necessary.  In some cases, it pays to repaint the entire exterior if it hasn’t received a coat of paint in years.  Hardwood trim on the exterior of the home can make or break its appearance.  Make sure it looks clean.

Tip #13: Look for any cracks in exterior plaster, and make sure they’re fixed and repainted to match exterior paint.

The second part of the this series looks at the interior of your home. Learn how to create emotion and attract the buyer as the second step into selling your Lake County home.
If you are ready to sell your home and need some more advice give us a call at 847-987-4941

The Way You Live In A Home And The Way You Sell A Home Are TWO Very Different Things!

Each year thousands of homeowners unnecessarily lose money when they sell their homes. They don’t lose money because someone took advantage of them. And they don’t lose money because it wasn’t “marketed” well.

Even Seasoned Homeowners Lose Thousands of Dollars Because They Didn’t Know About The Important Factors
That Influence The Value Of Their Homes

If you desire to sell your home for top dollar, and in your time frame, you need to do two things: 1) Get control of your personal emotions about your home, and 2) Place yourself in the shoes of potential buyers. Look at your home the way they would, and make it appealing in the right areas.

I know that putting your “homeowner emotions” aside may be tough to do. But doing so will help you to position your home to sell for top dollar, and in your time frame.

After all, selling your home is very different from any other financial transaction. Your house isn’t just a “thing.” It’s your HOME!

It’s the place where you raised your children. The place where you hold countless family memories…Thanksgiving dinners, family reunions, birthdays, anniversaries and more. It’s the place where you solved problems over the kitchen table late at night.

So it’s no surprise that selling your home may involve a bit of sadness, fear…or even excitement for the next move in your life.

Try not to let these emotions get in the way of a prudent sale. The tips and suggestions in this report will help.

Here Are Six Problems Your Home May Have That Can Instantly Turn Buyers Off

Potential buyers are much more likely to return to a home that impresses them at first glance, while homes that appear disorderly or poorly maintained seldom sustain buyer interest.

1. Home Odors. Because homeowners become desensitized to the odors in their homes, they rarely realize how obvious odors can be to visitors. This is particularly true of pet owners and smokers.

2. Carpet and Flooring. One of the most visible areas of your home is your flooring. If your carpet is worn or dirty, get it replaced or cleaned. If you have vinyl flooring with corners coming up, get it glued down. Special note: Replacing flooring in smaller areas, such as kitchens, with high quality flooring can bring in premiums in price.

3. Paint and Walls. Paint is one of the least expensive ways to “spruce-up” your home. Consider painting outside trim and interior walls and doors.

4. Clutter. Excess clutter is a big buyer turn-off. You have to move anyway, so you might as well pack away items that make your home feel good to you, but turn off buyers. This includes nick-knacks, furniture, pictures, wall hangings, plants, etc.

5. Signs of Pests. If you have any sign of mice, rats, roaches, spiders, or bees, you should immediately contact a local pest control company and have them eliminated. There’s no better way to show your home is filthy than by infestations. Remove all spider webs with a broom.

6. Landscaping. If your landscaping is messy, overgrown, or looks cluttered in any way, you need to fix it. Buyers make positive or negative conclusions about your home within the first five minutes. Don’t lose the battle before you’ve even begun.

To learn more check out our three part series of simple, quick and inespensive things you can do to prepare your home for sale. The first in the series is about selling the exterior of the home, second selling the interior of the home, and third how to show your home for maximum profit.

To find out more about selling your home please give us a call at 847-987-4941!

Are you a seller in trouble? Are you behind in mortgage payments? Here are some of the answers you have been looking for.

A short sale is when the home's current value is less than the mortgage and the closing costs that a seller will incur when selling a house. The seller does not have the funds available to make up the difference. A short sale is different from a foreclosure where the bank takes the necessary steps to take the property from the owner through legal action.

Consider contacting your lender to arrange a loan modification. Your lender may have programs available to help you. You may be able to lower your interest rate for a period of time or the length of your loan. Another option may be to refinance the loan.

If you are not able to do a loan modification or this is not enough to help and you need to sell your home, look for help with an experience Realtor. When you interview agents make sure to ask if they have experience with short sales. Have they taken any classes to learn about the process to help you get through it? There are currently a few designations available to Realtors to learn about what the process is and how to best help a client. You will also need the help of an attorney that has handled short sales before.

You will need to show some sign of distress to the bank. Distress could be loss of a job, divorce, or in some way your income is not great enough to make the payments on the loan.  Gather your information before an offer comes in. You will need to have a distress letter written to the bank explaining your situation, your past two years of your federal taxes that have been filed, along with proof of your assests and income. These will be delivered to the bank once your have an accepted contract with a buyer.

Buyers will need to be prepared to wait for the bank approval. This typically can take anywhere from 2 months to 9 months depending on the lender. Your realtor and attorney will help you along the way. The bank will review the papers and order an appraisal to verify the price of the home compared to the purchase agreement.

The lender has approved the contract and typically will responsd with a time frame to close within. This is usually within 30 days. While going through this process you usually can stay in the home. Make sure your attorney reviews the banks response so you know how the short sale will effect you. They do effect your credit, although less than a foreclosure will. You may also have to pay taxes on the mortgage forgiveness.  Having experience people help is key.

If you have more questions, we can help. We have experience with short sales, foreclosures, and are also CDPE (Certified Distresses Property Expert) certified.

Visit us at Team Splitt and give us a call to learn more.

It seems that the average home size is now getting smaller for the first time in 50 years. Could be due to the baby boomers down sizing when purchasing a new home. Take a look.

To view homes for sale in your area visit Team Splitt

Want to know the value of your current home visit Lake County Home Value

Find your new home at Lake County Property Search

We recently ran a search of distressed homes for sale in the multiple listing service. This would include those homes that area a short sale, foreclosure, or possibly a pre-foreclosure. While some of the information is difficult to pull without going through each home listing, this is what we found.

For the first quarter of 2010 for the homes that have closed or sold
Town                                             percentage of the market that was a distressed sale
Antioch                                          56%
Grayslake                                      29%
Gurnee                                           24%
Libertyville                                   23%
Lindenhurst/Lake Villa              45%
Round Lake                                   76%

So for the homes that are currently listed for sale on todays market what percentage of the market is a distressed sale?
Antioch                                           12%
Grayslake                                       14%
Gurnee                                            13%
Libertyville                                      4%
Lindenhurst/Lake Villa               21%
Round Lake                                   17%

Interesting to know the numbers that are out there.  While a smaller percentage of distressed sales are on the market they make up a larger portion of the homes that are selling and closing in Lake County.

To search for homes in Foreclosure or as a short sale, please visit Lake County Best Buys
To search all homes available in Illinois, please visit Lake County Home Search
If you have any questions about buying or selling a home please visit our website at Team Splitt

 

You are invited

to Meadowview PTO’s

1st Annual House Tour !!!!

Tickets in advance $16, Day of Event $20

Booklets/Ticket will be available for pickup in the school lobby on the day of event. The tour will feature former PTO board member’s homes and a local interior designer’s home, each residence having its own distinct sense of style and design. The participating families have renovated and created a wonderful warm & friendly familial atmosphere and are inviting you to a ‘walk thru’, whether it’s to get ideas for your next remodeling or redesigning project or to merely enjoy a variety of our neighborhoods with friends and family. Each family is specially preparing their homes to have them ready for Sunday May 2  

To Search for homes currently for sale please visit TeamSplitt.com

For a free market watch of current homes on the market, recently sold or under contract and your homes current value, please visit LakeCountyHomeValue

In a recent article at CNN Money shows the average home prices in major cities across the United States. How does Chicago stand? The average home price from October to December was 191,500. This is down 12.1%. The Illinois average was 187,600 a 36.5% change for the year. To view other states please see the full article.

According to a recent article at CNN Money housing across the United States is more affordable. Nearly 75% of homes are more affordable. The typical American famiy with an income of $64,000 can afford 70.8% of homes according to the article . In 2008 only 55% of the homes sold were affordable.

Do you have questions about the homebuyer tax credit? When is the expiration? Who qualifies for the credit and how do you get the credit?

Look no further. The answers to all your questions can be answer at Realtor.org. Just click on the link to find your answers. The deadline is fast approaching on April 30, 2010 you must have an accepted contract on a property and close on that home purchase by the end of June. There are also income levels you should be aware of. If you have any other questions or are ready to get started in looking for your new home, just give us a call. We are ready to help you!

The tax credit of $6500 is doing little to motivate existing homeowners according to Telegram.com. The market was expected to pickup quickly this year with the homebuyer credit extended by the goverment. Maybe the credit should be extended and increased? What would it take for you to move to another home this year?

Enter to win HGTV's free Dream Home Giveaway for 2010. You can enter once a day until Feb 19, 2010.  Some of the prizes include a home in New Mexico and a car, wow! Wouldn't a vacation home be nice. Especially with the current 10 degrees outside today. Click here to go to the entry form.

Do you know the different types of mortgages available today?

If you are new to home buying and not sure about the different types of loans available to you read on...

• Mortgage terms. Mortgages are generally available at 15-, 20-, or 30-year terms. In general, the longer the term, the lower the monthly payment. However, you pay more interest overall if you borrow for a longer term.
  
• Fixed or adjustable interest rates. A fixed rate allows you to lock in a low rate as long as you hold the mortgage and, in general, is usually a good choice if interest rates are low. An adjustable-rate mortgage is designed so that your loan’s interest rate will rise as market interest rates increase. ARMs usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. These types of mortgages are a good choice when fixed interest rates are high or when you expect your income to grow significantly in the coming years.
  
• Balloon mortgages. These mortgages offer very low interest rates for a short period of time — often three to seven years. Payments usually cover only the interest so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years.
  
• Government-backed loans. These loans are sponsored by agencies such as the Federal Housing Administration or the Department of Veterans Affairs and offer special terms, including lower down payments or reduced interest rates to qualified buyers.
  
  Slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment.

Information provided by Realtor.org.

FHA the Federal Housing Authority is looking to require more from home buyers this coming year to obtain an FHA loan.

Currently, borrowers have to make at least a 3.5 percent down payment and have a minimum FICO credit score of 500. Almost 30 % of the loans made in 2009 have been though FHA loans.

Among the changes outlined  Wednesday were plans to increase the down payment and FICO score required. The agency also may ask Congress for permission to increase either the upfront mortgage insurance premium, the monthly premium or both. Details of the plan are expected next month.

This could mean more up front costs to buyers looking for an FHA backed loan. Decisions are planed to be announce later this month to early Jan 2010.

The home buyer tax credit has been extended and opened up to people that have lived in their homes for more than 5 years and wish to move to another home.

Qualifying buyers must sign a purchase agreement by April 30, 2010, and close before July 1. More details can be find at the Illinois Association of Realtors and questions answered at the National Assoication of Realtors. Time is the of the essence! Call today to get ready. We can begin your home search or help you prepare your home for after the holidays!

It is official. The home buyers tax credit of $8,000 has been extended through June 2010. Home buyers must have a signed purchase agreement by April 30 and close by June 30th to qualify. Income limits have also been raised for single buyer up to 125,000 while a married couple can earn up to 225,000 to qualify.

Also approved is a credit up to 6500 for current home owners wishing to trade up. To qualify you must live in a home for at least five years out of the past eight. They also must close on the home by the end of June 2010.

If you have been waiting to sell your home or if you have been waiting to purchase a home, now is the time. Give us a call today so we can get to work for you!!