If you are thinking of selling your home, you’ll need to know exactly what it is worth before putting it on the market. As a Glen Ellyn area real estate professional, I analyze home values and determine market prices every day. By comparing your home to recent sales and other, similar homes on the market I can quickly tell you what your home is worth. This analysis is known as “Comparative Market Analysis”, or CMA. Just fill out the “CONTACT US” form to give me the information I need and I’ll be glad to perform a CMA for your home and provide you the results for free.

Many homeowners are curious about the value of their home. As you may be aware, home values are constantly fluctuating. Simply fill out the information below to calculate an estimate of how much your home is worth now.

This application uses a Conventional Mortgage Home Price Index (CMHPI) to estimate the value of your home considering the appreciation rate for your region. While the estimate may not be the actual or appraised value of your property, it can be a useful tool to gauge fluctuations and trends in your market which affect your homes value.

For best results, fill out the “CONTACT US” form and I can help with all of your home marketing decisions, including determining the best asking price for your home. I know the particulars of your neighborhood, the value of homes, and can help you discover what your home may really be worth.

You’ve come to the right place!

The Suburban Chicago area is growing by leaps and bounds!  With so many welcoming towns to choose from, you need an agent that will aggressively and intelligently market your property.  Many people have jumped into the real estate game with no experience and no real commitment.  We see it all the time.  But your property shouldn’t be someone else’s guinea pig.  Choose a REALTOR® with proven experience and results.  If you haven’t chosen a REALTOR® yet, make sure your candidates can answer these tough questions:

How will you market my property so it really stands out in my neighborhood?  What’s your online marketing strategy so my property is exposed to millions of potential local and relocating buyers?  Are you a reputable REALTOR® in Chicago Suburbs?  Do you have references?

You’ve definitely come to the right place.  I’m the local expert and I’m ready to put my experience to work for you.  With many large companies based in this area, outstanding tourism, and a variety of housing options — you can sell your home for top dollar IF you choose the right real estate agent.  There are many secrets and proven strategies for getting your home the attention it needs in the crowded Chicago Suburbs.  I know them all and I’m ready to go to work for you.

My service area includes:

DuPage County real estate
Kane County Real Estate
Will County Real Estate
Lake County Real Estate
Cook County Real Estate
Kendall County Real Estate
DeKalb County Real Estate

One of the first things I will do before putting your house on the market is prepare your house for sale. I want to show your house off in its best light to maximize your earning potential. I will tour your house with the eye of a buyer – what works, what doesn’t work.

Curb Appeal

Does your house have curb appeal? Can we give it a little more pizzazz to draw the buyer in? Would a bit of touch-up paint add dollars to the sale? What about the garden? Is the lawn in order and neatly edged? Are trees and bushes neatly pruned? Are flowers in bloom? If not, it may be time for a garden upgrade. Adding colorful annuals to the front garden will make a big difference. Remember, creating curb appeal will add dollars to your house’s final selling price.

Welcome Home

As I walk in the door of your house, I will ask myself, “Will this house say, ‘Welcome home’ to a buyer?” Looking through the eyes of a buyer, I will recommend changes that will enhance sales appeal.

I’ll help you eliminate anything that gives the appearance of clutter. Countertops should be free and clear. Knickknacks, souvenirs, family photos, refrigerator artwork – it’s gone. We need to “de-personalize” the house so buyers can imagine it as their home.

Closets and cupboards should appear large and roomy. It’s time to make a donation to a local charity or store belongings at a friend’s or family member’s home.

Reviewing your home room-by-room, I will make recommendations that impact the sale. I’ll point out the pieces of furniture that should be removed, rooms that need new paint, carpet that needs to be changed, fixtures that need polishing, windows that need cleaning, and any other improvement that can easily be made to promote the sale.

Setting the Stage

Before the first buyer walks in your door, I’ll show you how to set the stage. We want to engage the buyer’s senses. Lighting is critical. We’ll draw back curtains, open blinds, change light bulbs and add lighting where needed to welcome the buyer. We’ll enhance the ambiance with music playing lightly in the background and insure a pleasing aroma emanates from every room.

What is a Listing Contract?

Also referred to as a listing agreement, the listing contract gives a licensed real estate professional authorization to act on your behalf in the sale of your home. Listing contracts come in all shapes and sizes, but there are characteristics which are common to all.  Among the elements of any valid listing contract are:

Writing – All real estate contracts must be in writing.

Employment – The listing contract is a personal services contract between you and the broker.  It contains all of the terms and conditions of employing the broker and authorizing the broker to represent you in marketing and selling your home.

Compensation – For any contract to be valid, there has to be compensation.  The listing contract will specify the amount and timing of payment to your broker.  Typically, payment is an agreed upon percentage of the sales price, payable at closing.  It is important to note that your obligation to pay your broker may not absolutely depend on a finalized sales transaction.  For example, if the broker finds a bona-fide buyer who is willing to pay your asking price and agree to the terms you have offered, but you get cold feet at the last moment and decide not to sell, the broker has done his job and is entitled to be paid under the terms of the listing contract.

Title – All listing contracts will ask who has title to the property.  Property can’t be sold unless everyone with holds title interest in the property are part of the sale.

Termination date – You shouldn’t sign any listing contract without a specific termination date.  The most common duration is 180 days.  If the contract has an indefinite duration such as until sold, or no duration specified at all, dont sign it.  The listing contract is a legally binding document and you don’t want to get locked into one with no clearly defined termination date.  If the contract expires before your home sells and you still want to keep using the same broker, you can simply sign a new contract.

There can be and often are other elements to a listing contract.  As with any legal document, you should read the listing contract very carefully and be sure you understand exactly what you are agreeing to before signing.  If you have any questions about your listing contract it would be wise to consult a lawyer for clarification.

There are cracks in the foundation. Nothing structural. Nothing that’s going to threaten the stability of the home, but they’re there. Nooks, crannies and holes through which seeps an invisible threat. Colorless, odorless and undetectable by your average human, it is none the less the second leading cause of lung cancer in the United States.

Radon gas is created when uranium in the soil decays. The gas then seeps through access points in a home. Common entry points are cracks in the foundation, poorly sealed pipes, drainage, or any other loose point. Once in the home, the gas can collect in certain areas – especially basements and other low-lying, closed areas – and build up over time to dangerous levels. The Environmental Protection Agency of the US Government has set a threshold of 4 pico curies per liter as the safe level. As humans are exposed to the gas over a period of years, it can have significant health effects.

Testing for radon comes in two forms: active and passive. Active devices constantly measure the levels of radon in a portion of the home and display those results. Passive devices collect samples over a period of time and then are taken away and analyzed. Either method can help you determine your level of risk. Do-it-yourself kits are available from several outlets, normally with passive devices. Over a period of days, the device is left in the lowest level of the home which is normally occupied. This eliminates crawl spaces under the house but includes finished or unfinished basements. Then the results are analyzed by a professional. The other option is to engage a qualified professional to conduct the tests properly. The EPA web site (http://www.epa.gov/radon/radontest.html) provides information on finding appropriate resources and testing devices.

If high concentrations of radon are found in your home, you have several options. Since radon is only a problem when it is concentrated in high volume, improving the ventilation in an area is often sufficient to solve the problem. In other cases, it may be necessary to limit the amount of radon getting into the home by sealing or otherwise obstructing the access points. Once again, a professional should be engaged to ensure that the radon is effectively blocked. Typical radon mitigation systems can cost between $800 and $2,500, according to the EPA.

If you’re buying or selling a home, radon can be a significant issue. Buyers should be aware of the radon risk in their area and determine whether a radon test is desirable. When in doubt, the EPA always recommends testing. If test results already exist, make sure they are recent or that the home has not been significantly renovated since the test was performed. If in doubt, get a new test done. 

So, whether you have an old home or a new one, live in an old mining town or in the middle of the Great Plains, radon is a reality. But it is a reality that we can live with. Proper testing and mitigation can eliminate radon as a health threat. For more information, visit the EPA web site on radon at www.epa.gov/radon.

Unknown in years past, it is now clear that lead causes a number of health-related problems. In children this can include growth and learning disabilities, headaches and even brain damage. Adults are not immune either. High levels of lead have been tied to problem pregnancies, high-blood pressure and digestive problems.

Before you buy or sell an older home (Built 1978 or older), you need to know what hazards may exist. If selling, federal law stipulates that you must disclose any lead-based paint in the home. If you’re buying, you want to know what hazards may be lurking in the walls, as well as in the pipes, before you put up your earnest money. If you suspect that a house contains high levels of lead, you should contact a qualified professional to do an inspection. These tradesmen use a range of tools – from the well-trained eye to complex, specialized equipment – to detect lead levels and recommend appropriate solutions. The National Lead Information Center (NLIC, http://www.epa.gov/lead/pubs/nlic.htm) can help you find a resource.

Many solutions exist for cleaning up lead concentrations. Depending upon your situation, you may find one of these an adequate solution. Removing lead-based paint, for example, may be as much trouble as it is worth. First, just the act of stripping the paint from the walls is likely to create dust and debris which is more likely to be ingested. Given these hazards, you should consult a certified contractor to complete this kind of work. Short of removing the paint, you may be able to get by with covering the old, lead-based paint with a coat of sealant specifically designed for this purpose. Once again, a certified contractor will be able to recommend an appropriate solution. Financial assistance is even available in certain circumstances.

So even though a house may not carry a warning label from the EPA, a little common sense and a sharp eye should keep your family safe.

Don’t forget to factor in closing costs when considering a home sale or purchase. The Pattie Murray Team is seasoned at helping both buyers and sellers when it comes to closings. Fill out the “CONTACT US” form if your needs include a professional REALTOR® experienced in the business side of real estate.

Sellers: As we get through the details of your transaction, we’ll not only work to get the highest sales price, but we’ll also campaign for limited closing costs. And once we’ve arrived at an agreement, we can provide an Estimated Net Proceeds report to help clarify the closing costs so you are aware of exactly where your money is going. Your attorney will provide a final closing statement that will delineate your bottom line and all costs included. 

Buyers: If you are purchasing a property, you will be given a Loan Estimate of closing costs within three days of submitting your loan application. The estimate is based on the loan officer’s past experiences and is required to be within a tolerable range so you’re not stunned when you show up at the closing table. We’ll be happy to go through the estimate with you, answering your questions and highlighting any estimates that seem unusual.

Purchasing a home is probably the single biggest investment you will ever make. Before closing on the house, you’ll want to know that no other individual or entity has a right, lien or claim to the property.

Determining that your rights and interests to the property are clear is the business of a title insurance company.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection in an amount equal to the purchase price of the property or its current market value. This premium typically includes your “owners” policy as well as the “lenders” policy.

One of the marked advantages of title insurance is that prior to a policy being issued, the title insurance company completes extensive research into relevant public records, maps and documents to trace ownership of the property and determine if anyone other than you has an interest in the property. Through its research, the title insurance company can usually identify any title problems that may arise and have these problems cleared-up prior to closing.

Your title insurance owner’s policy will describe the property and outline any recorded limitations on your ownership. It will also set forth the title insurance company’s responsibilities should any claim covered by the policy terms arise. Typically your title insurance will protect you from loss:

if someone contests your title in legal action (the title insurance company will defend the title at no expense to you),

or if there is a title defect that cannot be eliminated (the title insurance company will protect you from financial loss – up to the amount of the policy).

If you’re thinking about remodeling your kitchen, or finishing your basement, you probably want to get your investment back when you sell your home. But when it comes to payback value of home improvements, some are definitely more profitable than others. As a general rule, kitchen and bathroom projects usually get a nice return on investment, typically 90% or more. Things like adding rooms or finishing basements tend to pay back the least. Finishing a basement usually returns less than 50%, so it’s not a project likely to show profit at selling time.

There are a number of factors that go into determining how well a project will pay back. Payback value depends a lot on the current market conditions in your area. If the market is hot and homes are selling fast, you can expect a higher payback value than you would get in a slow market. 

The type of project you do and how it fits in with other homes in the area can have a big influence on payback too. If you put your money into the wrong type of improvement, you won’t get your money back. But if you’re smart about what you do, you can make money. The payback will be better on improvements that are in demand and conform to neighborhood standards. Adding a second bathroom in a neighborhood where most homes have two bathrooms will give a high return on investment.  Building a large addition that makes your home twice as big as the other homes on the block probably won’t pay back very well. Likewise, the popularity of a project will factor into how much it pays back. An improvement heavily customized to your wants and needs won’t pay back as well as something more common to other homes in the neighborhood.

Another factor to consider is the cost of the improvements. If you can do the work yourself, you can save significantly on the cost of the project and greatly improve the chances of getting a good return on the investment.

The list below is compiled from several published surveys and shows typical payback for some popular remodeling projects:

Kitchen remodeling – 90%
Add a bathroom – 90%
Bathroom remodeling – 80%
Install central heating – 90%
Install central air – 75%
Add a deck – 70%
Replace windows – 70%
Add a room – 55%
Build a pool – 45%
Finish a basement – 40%