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Naperville, IL Real Estate News

By Scott Your Naperville Number1 Expert
(Real Time Realty,LLC.)
If you are like most buyers who sign a purchase agreement on a new home, you will almost certainly feel a wave of overwhelming anxiety. You may begin to question your judgement -- did I pay too much? Is it the right home? Can I really afford the mortgage payments? How can I get out of it? This response--referred to as "Buyer's Remorse"--is completely normal!Call your friends who have owned a home for a few years if you experience an attack of buyer's remorse. Are they bothered by rapidly escalating home prices? Probably not, because that means the value of their home is increasing. Did they feel anxious when they first signed the agreement? They may tell you that they felt just as anxious as you are feeling, but now are really glad that they went through with the purchase. Have they mad...
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
Odds and ends...so here's a round-up.1) Can't do a radon test if there's NO heat. Never knew that. We tried to do an inspection on a property with the temperature at 10 degrees. But, with NO heat, according to the radon specialist, it won't work.2) Selling real estate in below zero wind chill, driving snow and biting wind is no fun. They call them snow days for a reason. If the schools can close, then so can I. Actually, our Administrative Supervisor made a command decision. She made it to the office and closed it down. Good move as the snow got worse along with the traffic.3) When your old computer dies, give it a burial. There's nothing harder than trying to find 7 year old software and wasting time re-loading it. I think I'll just donate the machine and buy another. And, yes, this wa...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
When starting out as a real estate investor, you can choose either the conservative approach of holding a property until it increases in value or the riskier approach of "flipping" - reselling very soon after making some improvements that add value. If you plan on taking the safer approach, keep the following factors in mind when searching for the right investment property.Look for a house or apartment unit that is close to where you live, so inspecting the property and overseeing maintenance will be easier. Choose an area where there is clear potential for future development, and you will benefit from the inevitable increase in property values. If you have the choice of either buying a newly built or recently remodeled home or a less expensive house in the same neighborhood that needs ...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Are you looking for a home and becoming tired of house-hunting? If so, you may be tempted to buy a bargain-priced home "as is" and forego the home inspection. But without the inspection report, do you know what the "as it" refers to? Wouldn't it be better to know what condition the home is in before you buy it? The inspection contingency allows the buyer to enlist the services of a licensed home inspector within three to seven days after the purchase agreement is signed. The inspector will go over the property from top to bottom, evaluating the condition of all the basic systems and structures of the home in order to identify conditions that may be considered material defects and thus may affect the market value or the safety of the home. The inspector's report is the only documented pr...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Most sellers know that buyers are attracted to homes that are spotlessly clean, well-maintained and tastefully decorated. Sometimes the seller can't make the extra effort to prepare the home for showing. Some real estate listings are being sold to settle estates or by someone who has been transferred unexpectedly and didn't have time to complete the necessary cosmetic repairs. Homes that need work are often exceptional values.When a real estate agent shows you a house that needs help, try to imagine how it would look with new carpet, a fresh coat of paint and your furniture settled inside. Because the condition and overall appeal of a house have such an impact on the selling price, "fixer-uppers" are often priced lower than comparable homes. If the home is structurally sound and has upd...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Real estate ads are sprinkled with terminology that often puzzles consumers who don't have applied knowledge of housing industry lingo. Internet homebuyers find that information about properties is often presented in abbreviated form or unfamiliar language. Shedding a little light on some basic real estate terms may help you locate a home that is available at a very affordable price. 'MLS' refers to the Multiple Listing Service, which is the national database of listed homes for sale. Some real estate web sites allow homebuyers to preview local listings that appear on the MLS. If you see a real estate ad for a "FSBO", it means that the property is for sale by the owner, who is declining the services of a Realtor. A home listed "As-is" is being sold in its existing condition. A "bargain ...
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By Daniel Firks
(Re/Max Of Naperville)
Since July 2006, the Naperville City Council has discussed a possible Smoke-Free ordinance for the community. This discussion has taken place over six City Council meetings and included a townhall meeting held on September 13, 2006, to gather public input. On January 2, 2007, the City Council accepted a final version of the proposed Smoke-Free ordinance (PDF file) and directed that it be made available to the public for a comment period. The City Council will discuss the comments received on the proposed ordinance and determine further action at their February 20, 2007, meeting at 7:00 p.m. in the City Council Chambers located at 400 S. Eagle St.
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By Daniel Firks
(Re/Max Of Naperville)
The new law mandates that every dwelling unit must be equipped with at least one approved carbon monoxide alarm in an operating condition within 15 feet of every room used for sleeping purposes. A dwelling unit, defined as a room or suite of rooms used for human habitation, would include a single-family residence as well as each living unit of a multiple-family residence and each living unit in a mixed use building.The law exempts residential units that are in buildings that: (1) do not rely on combustion of fossil fuel for heat, ventilation or hot water; and (2) are not connected in any way to a garage; and (3) are not sufficiently close to any ventilated source of carbon monoxide. Buildings that have electric heat are exempt.The law allows three different types of alarms to be used to...
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By Daniel Firks
(Re/Max Of Naperville)
NAPERVILLE, Ill.-Naperville residents will be voting for the Mayoral position when three (3) candidates face off in the Primary Election on February 27, 2007. Residents will also be voting for four (4) City Council positions and the Mayoral position in the Consolidated Election on Tuesday, April 17.Voter registration services for DuPage and Will County residents are available from 8 a.m. to 5 p.m. Monday through Friday at the Naperville Municipal Center. Residents can also register to vote, on a limited basis, at the city's satellite office, Community Connection, which is located at 535 Fairway Drive in the Railway Plaza Mall. Please call (630) 305-7060 to confirm the availability of a registrar.To register to vote, residents must produce two pieces of identification, one of which must ...
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By Daniel Firks
(Re/Max Of Naperville)
Driving around Naperville, it seemed there were just as many snowplow trucks as regular cars on the road. Some plowers haven't been home in 24 hours. Chris Winkler, a plower for Steve Miller Inc., said by this morning he'll have been plowing and salting for 46 of the last 52 hours in his truck.What keeps someone going for 46 of 52 hours?"Starbucks," he said. "You'd have to count the empties. I've got six in the truck and someone cleaned it out at some point."Winkler said once the plowing's done, they will begin snow removal for companies that don't want mounds of snow in their parking lots. Though some people don't mind parking in a snowy lot."The most amazing thing to me is after all these years I can plow a lot and someone will invariably come and park where I haven't plowed yet," he ...
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By Daniel Firks
(Re/Max Of Naperville)
 Naperville high schoolers drove through downtown Naperville chanting "Happy snow day!" to the few brave souls walking on the sidewalks.A winter storm warning for Chicagoland was in effect until midnight Tuesday with the largest February snowfall in seven years on our hands, canceling all Naperville public schools.Tim Halbach, meteorologist with the National Weather Service, said visibility is down to as low as a quarter mile due to dry snow and heavy 30 mph winds - conditions that make winter travel even more dangerous. Temperatures are expected to drop into single digits today with the coldest weather coming tonight and Thursday night, with temperatures expected at 20 below zero with wind chill. And more lake-effect snow may fall today.The storm also caused scores of transportation pr...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Houses that are spotlessly clean and tastefully decorated tend to sell quickly, and for top dollar. There can be substantial savings for home-buyers who are willing to purchase a property that needs cosmetic improvements. When you look at a house that needs work, try to imagine it with fresh paint, refinished floors and new carpet. Consider the attractive features of the home. Would it get more sunlight if the draperies were opened and the windows cleaned? Does the back yard have potential? Try to distinguish between the cosmetic condition of the house and the state of its structure and major systems. Some fixer-uppers need a lot of professional attention from electricians, plumbers and other expensive professionals, while others are true bargains that can be transformed with a little e...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
You see them on cable TV, sitting around a swimming pool, sharing stories about how they got rich quick by buying valuable real estate for give-away prices. They took a course on how to invest in real estate and became millionaires overnight--with nothing down and no credit hassles from mortgage lenders. The course worked for them, and they say it will work for you, too.If all this sounds too good to be true--it is! These "get-rich-quick" courses and schemes are being investigated by consumer fraud agencies around the country. This does not mean that you can't become a millionaire by investing in real estate. But investing in real estate requires one important thing from you--an investment of cash. You can't build an empire overnight, but you can do very well over the long term by selec...
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
Dear Naperville Sellers,It's winter! And, there's snow and slush all over the place. You can help us when we show your property.Please have a rug at the front door that we can stand on and take off our shoes or put booties on. And, perhaps a box to throw our shoes in, and an old towel to wipe up the melting snow. And, if your property is vacant ask your listing agent to provide these items.I had the opportunity to show a property last week in the snow storm...and we walked into several properties where there was nothing in the foyer. So, I'm sure that melting snow ended up on the floor. Nothing we could do.But, you, dear sellers can help.
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes sell for bargain prices because they need work. Buyers love "fixer-uppers" for the obvious reasons: the affordable price and the satisfaction of remodeling the house to accommodate your tastes and needs. Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value (usually 25%) to allow plenty of room for a profitable re-sale after the work is completed.It is important to educate yourself before taking on a fixer-upper project. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar i...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
A colorful history can add significantly to the value of a home. Researching the provenance of a property you are interested in buying can be both interesting and ultimately profitable. The market value of a home will be greater if it was designed by a notable architect, built by a company with a reputation for the finest construction, or lived in by a celebrity who hosted famous guests. Ask your real estate agent if there is any historical data of significance associated with the home, or if previous owners were VIPs. Note the names associated with the deed and title to the home, and look them up with the help of the local historical society. Consult the microfiche in newspaper archives for references to colorful details of the home's past. The county assessor's office may have records...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Most home purchase agreements have clauses that deal with termites. After the agreement is ratified, a termite inspection is arranged. Before the closing can occur, the sellers must be able to produce papers signed by a licensed exterminator stating that the house is free of infestation and that any termite damage has been repaired.Before you sign an agreement to buy or sell a home, you should read the termite clause and be sure that you understand it. Who selects the exterminator and pays for the inspection? If bugs are found, who pays for the treatment? Are the sellers obligated to repair any damage and have they placed a limit of the dollar amount they will spend on those repairs? If treatment is required, the buyers may want a chance to discuss the options with the pest control comp...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Many real estate agents are animal lovers and have pets of our own, but we have all shared stories of having our fingers or ankles nipped by furry creatures during a showing. We have opened the front door to the home we are showing only to have a purebred Persian kitten scoot toward the nearest busy street. If you have pets and are going to put your house on the market, be sure to work out the showing arrangements carefully. It is important for us to be able to communicate to our colleagues what to expect when they pass through your front door. It is rare for pets to pose significant problems, but big dogs can be menacing. Buyers or agents may be allergic or even a little phobic about dogs or cats. It is difficult to get a buyer excited about your home if he or she is sneezing continuou...
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By Scott Gerami, Helping people find their place in the world!
(Real Time Realty)
Do you have a dog or cat that lives indoors with the family? A pet can pose a problem when your property is listed for sale. Even if prospective buyers have pets of their own that smell just like yours, they may be repelled by animal odors as they tour your home. If you have a pet odor problem, you should hire a professional to clean and deodorize the furniture and/or carpets that have been affected. Check the cat box frequently and keep the kitty litter fresh. Some people have allergies to pet hair or irrational fears of certain animals, so it is a good idea to put dogs or cats outside or confine them to one area when your house is being shown. It is hard for buyers to appreciate your home through puffy, watery eyes or in between sneezes! Even if the house is exactly what they want, yo...
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By Daniel Firks
(Re/Max Of Naperville)
Bathtub Refinishing  Here are some great people in the Chicago land area that can make an old yellow,red, pink, or green bathtub look brand new!  Resurface Pros  631  N.  Sixth  Street  DeKalb  IL.  60115 Ph. (877)TILETUB  (815) 756-2565 Fax (815) 756-2566  resurface1@aol.comNorthern Illinois area including Cook, DeKalb, Kane, Lake and other countieshttp://www.resurfacepros.com/___________________________________Wet PaintThom G. SandersP.O. Box 802Barrington,  IL  60011(847) 845-7578 - cell(847) 487-4560 - work______________________________________________________________ Bathcrest of ChicagoDonald Williams257 E 2nd StElmhurst,  IL  60126(630) 941-1116 - work
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