lake zurich...and beyond

I'm sure you've heard this before: When there is a lot of inventory it is, generally speaking, a good time to buy a home. As a buyer, you have more choices. Sellers know there is a lot of competition, and therefore are more likely to price their homes competitively or to offer other incentives, such as closing cost assistance or a flexible closing date.

As a buyer, you are probably confused. You are hearing and reading conflicting reports. Many of you are wondering if you should wait a few months to see if prices go down. Others are afraid that if you don't buy now, you will miss your chance to get the best price, or interest rates will go up which will affect how much you can afford.

Let me make one thing clear: The "right" time to buy a home is when you:

a) Have your financing in order; and

b) Find the home you love at a price you can afford and are willing to pay

Market conditions can change relatively quickly. Without the benefit of a crystal ball, no one can predict what will happen over the next few months. Keep in mind that media reports are based on national statistics, and in reality, only what is happening locally is important. Do some research and have your Realtor show you local market statistics and trends. Ask your real estate agent to show you recent comparable sales for the home you are considering buying. Only then can you make an educated decision about whether you should buy now, or wait until later.

A good source of information on housing market trends is Data Quick. Below is a snapshot of the market in Lake County, Illinois, taken from the DQ website at www.dataquick.com. You can find information on most major market areas by selecting "DQNews.com: Real Estate News" and looking up your local market area.

As you can see, in some areas the median home price has gone down, and in some areas it has gone up. In Lake Zurich, Illinois, the median price of homes has increased 3.5% from the same time last year. This can be interpreted in a number of ways, depending upon who you talk to. Indeed, it depends upon whether you are talking to a "glass half full" or "glass half empty" person. Some might say that you should buy now in Lake Zurich, because prices may continue to rise and you could end up priced out of the market. Others may say the opposite: that home prices haven't come down yet so you should wait until they do.

So, what should you do?

Let me repeat: The "right" time to buy a home is when you:

a) Have your financing in order; and

b) Find the home you love at a price you can afford and are willing to pay

Avoid trying to time the market. The only thing right now that I can say with absolute certainty is that there are more homes on the market right now than in recent years (at least in my market area). This means that as a buyer, you have more choices. And choice is good.

Whether you commute to downtown Chicago every day or simply head to Chicago for shopping, games or other events, Lake Zurich has convenient access to two Metra train stations. The Palatine station is located at 137 W. Wood Street, while the Barrington station is located at 201 S. Spring Street.

Either way, you can be downtown in less than an hour! Visit www.metrarail.com for schedule and route information.

It's common knowledge that in order to sell a home, you must first get prospective buyers into the home to see it.

Your REALTOR's job is to market your home to attract as many potential buyers as possible. As a seller, you will no doubt get frustrated because many buyers will view your home, but ultimately decide that it is not the right one for them.

These "failures" are necessary to the "success" of selling your home!

Just as in baseball, your odds of success increase with the number of times you are at bat. In real estate, the odds are that your home will receive an offer within 10-12 showings (if priced correctly).

So every time a buyer walks through your home and you "STRIKE OUT" you are one buyer closer to a "HOME RUN!"

BATTER UP!!!!

Scotto's of Long Grove has CLOSED! It's GONE! I am deeply saddened that, like so many restaurants, this one couldn't survive. And I believe the reason that it couldn't survive was that old real estate adage: LOCATION, LOCATION, LOCATION.

Scotto's was located in a new, somewhat "off the beaten path" strip mall. As one of the first establishments to open in the strip mall, there really wasn't enough reason, it seems, for people to make the drive just to go to Scotto's. After struggling to gain a foothold, ultimately it just couldn't make it. We all know that it's hard enough for a new business to survive, but a challenging location can be the kiss of death.

If you own a home in a challenging location (maybe you back to a busy street or live next door to Sanford & Son) the location will narrow down your pool of prospective buyers, increase your market time, and cause your home to sell for less than comparable properties in more desirable locations. If you are considering purchasing a home in such a location, and are okay with how it will affect the resale of the property, then go ahead and buy it...just be prepared to hear "I told you so" when it comes time to sell.

The bottom line is that it doesn't matter whether you are buying home or choosing a location for your business. The adage is true for both. The most important factor in real estate has and always will be...LOCATION, LOCATION, LOCATION.

If the client does not have a lot of time to view properties, like those relocating from another city or state, the agent previewing can help narrow down which homes to visit. This can save precious time and energy when both are limited on a weekend house-hunting trip.

On the other hand, if the agent does not fully understand the needs and desires of the client, then previewing could eliminate properties that may actually be a good fit for the client.

I understand the client may not wish to waste his or her time if the home doesn't meet the basic criteria established. However, purchasing a home is more than just how many bedrooms and bathrooms the home has. It is an emotional connection as well. But the client will only feel it if they step inside the front door!

As an agent, I can't tell you how many times a client has purchased a property that is completely different from his or her stated criteria. Sometimes they fall in love with the gorgeous lot or view and the house becomes of secondary importance. Sometimes they choose the best home with the best price in the worst location, simply because that is what is ultimately important to them. Sometimes they choose three bedrooms instead of four, because they don't really have that many guests after all. Most often, I hear "I grew up in a home just like this." Ah, there it is...the emotional connection.

There is an old saying in real estate that "buyers are liars" but I don't believe that to be the case at all. I think they are simply unaware of what they really want, and only by looking at homes in person will they be able to figure out what is important to them and where they are willing to compromise. You see, maybe that two car garage isn't that important if they can get items 1, 2, 3 & 4 on their wish list.

The bottom line is that previewing a home may save time or may actually cost you a sale. We can't really get inside our client's heads and know what would be acceptable to them. If a client suggests that I preview a home for him or her, I will...but I will also strongly suggest that they take the time to come take a look in person. I tell them that finding the right home to purchase takes time and effort, but when you finally find it...you'll just feel it. Feeling what they feel, well, that's something I simply can't do for them.

Last year (2006) I participated in The Breast Cancer 3-Day Walk on September 8^th, 9^th and 10^th. This year I will not be a walker, but I will be there every step of the way in my heart. I will also be there in person, standing on a street corner, cheering on the walkers and providing treats, support and encouragement. Anyone care to join me???

I was so moved by my experience last year that I wrote about it and forwarded it to all of my supporters. A friend forwarded it on to our Regional Office and as a result it was published in part in the October 2006 issue of RE/MAX Today (Northern Illinois). I thought I would re-print it here, and I hope it inspires you.

WALKING FOR A CURE

By Kelly Sibilsky

When I found out that my Mom was diagnosed with breast cancer, I was devastated. As you can imagine, it is impossible to comprehend the possibility of life without your Mom in it. It breaks your heart to witness someone you love go through the surgery, loss of a breast, the pain and fear, the medications (and their side effects), as well as the emotional aftermath that breast cancer causes.

Thankfully, my Mom is one of the lucky ones. She is a survivor. But over 200,000 men and women in the United States will be diagnosed with breast cancer this year alone, and over 40,000 men and women will lose their lives to the disease. To put it another way, one woman will be diagnosed with breast cancer every 3 minutes. Every 13 minutes, the disease claims another life in the United States.

When someone you love is diagnosed with breast cancer, you become more aware. Aware of your own body, and the need for self-examination and mammograms. Aware of the need for research and charitable donations. Aware of just how many people know someone who has been touched by this disease. And you want to do something.

I first heard about The Breast Cancer 3-Day a few years ago. I even went online and tried to register for the event, but chickened out. I was afraid I wouldn't be able to raise the money necessary to take part in the event. But last year I signed up and committed myself to raising the $2,200.00 minimum contribution. I shouldn't have worried. I was overwhelmed with the support of my family and friends, co-workers and even complete strangers. With their help, I raised $3,620.00. Last year, the Chicago walkers raised over $5.1 MILLION DOLLARS! Hopefully this year they will raise even more.

I started training in March of 2006. It began easily enough, with 3-5 mile walks 4 times a week. Before you know it you are walking 6-10 miles, then 13-15, and then you are getting up at 5:30 a.m. on a Saturday morning to walk 18 miles. In training, I walked over 600 miles. You'd think that would be enough, but nothing prepares you for the actual event: 60 miles over the course of 3 days. Fitting in the training with a busy real estate career is a challenge, to say the least!

Day 1: I set my alarm for 4:30 a.m., put on my shorts and my Breast Cancer 3-Day t-shirt and Brian (my husband) drove me to the Sam's Club parking lot in Vernon Hills. I started to tear up as he dropped me off, the emotions were overwhelming. A sea of men and women getting ready for the walk of a lifetime, everyone nervous and excited and anxious to get walking after all those months of training.

The opening ceremonies were uplifting and humbling at the same time. It was a reminder of why we were walking as they shared a few personal stories from participants. The one that sticks out in my mind: the man and his current wife, who were walking together in memory of his previous wife who had died from breast cancer. The walk began with tears streaming down our faces as we headed down the Des Plaines River Trail.

We walked through the northern suburbs of Chicago: Vernon Hills, Lincolnshire, Riverwoods, Northbrook, Glenview and Lincolnwood. Pit stops are every few miles where you can fill up your water bottle, grab a snack, stretch and use the porta-potties! Each pit stop had a different theme, my favorite was the sports themed one where everyone wore shirts that said "Saving Second Base" (get it?). All along the route we were honked at by passing cars, cheered on by homeowners, waved at by little kids at the side of the road - who held out bowls of candy for us. The 3-Day crew were all along the route cheering us, encouraging us, and keeping us safe. There are "sweep vans" along the way who will take walkers unable to continue either to the next pit stop or back to camp.

It was difficult and painful. On day 1 we walked 23 miles. By the end of the day, each step felt like the bones in my feet were breaking. Everyone adopts the "3-Day hobble" by the end of the day. It's like you are walking while trying not to actually step on the ground.

When I got back to camp, I was exhausted but elated to see "tent city" and smell dinner cooking. Sara (my tentbuddy) and I set up our tent and head for the mobile showers (heaven on wheels). Everyone has dinner in their jammies. The Lincolnwood Chamber Orchestra volunteered to play for us during dinner, isn't that amazing? By 9:00 p.m. we are all settled in our tents for the night with lights out.

Day 2:We wake at 5:30 a.m. and get dressed, pack up our gear and tents, eat breakfast and head out on the road. No one slept well. Everyone is stiff, has sore feet, and bandages on their blisters. You start to hear the stories of the previous days' casualties: women with IV's, shin splints, blisters the size of tennis balls. You see men and women with bandaged knees and ankles. For the first time you worry that you won't be able to do this. By the first pit stop, the medical tent is overflowing with people.

I don't want you to think this was a depressing experience. It's far from that, but it is intense on so many levels. With over 2,000 walkers, you meet so many incredible people with stories to tell about how breast cancer has changed their lives. This walk is about celebrating life.

Just getting to lunch (at mile 14.8) is a challenge on day 2. Each step is torture. But you rest, put on fresh socks, and hobble on. It's amazing how the need to finish drives you. And the crew is there every step of the way, cheering you on. It becomes your goal to make it to the next pit stop. Your life becomes reduced to 3 mile increments. Just as those with breast cancer have their life reduced to making it through the next day, the next treatment, the next "healthy" check up. One day at a time. One step at a time.

We walked through Wilmette and Winnetka. Amazingly, miles of smiles. There is so much laughter. We have fun laughing at the colorful costumes of the crew and fellow walkers. We laugh at the local cheerleaders who took time to choreograph special cheers for us. We laugh at the "boobie" hats and funny signs and men in hula skirts. We laugh at the pain. I can do this. I will do this. Because I believe in a world without breast cancer. 

When I walked into camp at the end of day 2, after completing 22.4 miles, I started crying. When I got to my tent location I found Sara there already (she had been "swept" back to camp after lunch due to a knee injury). I cried again when I saw that she had put up our tent: my own personal tent fairy! I headed for the shower then we had dinner. They entertained us with live music that had everyone singing and clapping along. Then we headed off to bed.

Day 3: The skies opened up about 3:00 a.m. and brought torrential rains that lasted most of the day. We packed up our tent and belongings in the rain, ate breakfast in the rain, and started walking in the rain. It was chilly and windy, but everyone was excited - tonight we would get to sleep in our own beds!

By the second pit stop at 6.1 miles, we are all hurting, wet and miserable. But slap-happy! We find humor in the little things, and encouragement as the City of Chicago residents turn up to cheer us on, even in the rain. We are waved at by little kids from their windows. One little girl held up her teddy bear and waved its arm at us as we went by. We make it to lunch (10.6 miles) and discover that a local school is letting us in to warm up and dry off. We feel blessed. Exhausted walkers line the halls. We all take off our ponchos and shoes and nap for a while. Pure heaven.

The final push: Only a few more miles to go! We set off for Montrose Harbor in Chicago. The wind picks up as we get closer to the Lake and as we pass a Starbucks we duck in for coffee, hot chocolate or tea. We arrive at the holding area by about 3:30 p.m. where we wait for every walker to arrive. We get a victory t-shirt and miraculously the rain stops! At about 4:30 p.m. all of the walkers line up so we can go the final ½ mile together. We are overwhelmed by all of the cheering faces: husbands, boyfriends, moms, dads, children, friends and grandparents who are so proud of the walkers' accomplishments.

The closing ceremonies were amazing, I was an emotional mess. We all took off our shoes and held them up in victory. We had just completed the most incredible 3 day journey of our lives and raised millions of dollars! We cheer, hug each other and head off to find our families.

Physically, I was completely exhausted. The walk taught me that I can do things that I would've never thought possible. For three days we lived in a bubble: where kindness was literally around every corner, where you were cheered as you crossed the street, where strangers became friends. You learn to appreciate what you have and the people you are with. I am blessed.

For more information about The Breast Cancer 3-Day, or to make a donation, visit www.the3day.org.

Congratulations! The search is over and you are well on your way to the closing on the purchase of your new home. Don't worry, I will be with you every step of the way...from contract to closing.

Several things will be going on behind the scenes to ensure a smooth closing for you. I will make certain both your attorney and lender receive a copy of your contract and will make sure that you complete tasks on schedule. Here are some things you can expect over the next few days and weeks:

What is Attorney Approval?  

The attorney review period is typically 5 business days from the date the contract is signed. Your attorney will go over the contract with you during this time frame and may make suggestions to modify the contract to better protect your interests. The seller's attorney will do the same for the seller.

When do I need to do my Home Inspection?

Most of the time, the home inspection will take place within 5 business days from the date the contract is signed. You should determine your inspector's availability and contact me as soon as possible to schedule the home inspection. It is best for the inspection to occur during daylight hours.

Who attends the home inspection?

I will attend the inspection with you...and the inspector of course!

How long does the home inspection last?

Most home inspections take 2-3 hours. If you elect to have additional inspections, such as radon testing, the testing device is often placed in the home during the home inspection and picked up by the radon tester three days later.

What happens after the inspection?

After the inspection is completed, the inspector will provide you with a report. This report will be forwarded to your attorney. Your attorney will review the report with you and will make recommendations as to what repairs should be requested as well as what is required under the contract. I will also discuss this with you and make my recommendations based on conversations I have had with the seller's agent that the attorney may not be aware of.

Once any home inspection issues or changes to the contract have been resolved and agreed upon by both the buyer and seller, what happens next?  

You must promptly deliver to your lender all of the required documentation requested by him or her. Make sure to keep a copy of every document you give to your lender in case the original is lost or misplaced - and keep it handy through the closing.

**DO NOT buy anything on credit between NOW and the closing! This could affect your credit and your ability to close!**

What about Homeowner's Insurance?

You should contact an insurance company as soon as possible to arrange for your purchase of homeowner's insurance. You have ten days under the contract to make sure you can obtain insurance at a reasonable cost. If you need flood insurance you must verify this now. Your lender will require you to pay one full year of homeowner's insurance premiums prior to the closing, with the receipt to be brought to the closing. Have your insurance agent fax a copy of the paid receipt directly to your lender as well.

When do I set up my utilities?

Notify your present utilities (if applicable) and arrange for services at your new address approximately 2 weeks prior to the closing. This includes gas, electric, water, cable and phone. Don't forget to cancel or transfer deliveries, newspaper, magazines, garbage collection, etc. A great service to check out is www.moveutilities.com.

When is the final walk through?

You are entitled to a final walk through of the home prior to closing, to make sure the home is in the same condition as it was when the offer was made and that all home inspection issues have been resolved. This is typically done the day before or the day of the closing. I will contact you to schedule the walk through.

When is the closing?

The closing time and date will be set by the attorneys based upon their schedules and the availability of the title company representative. As the buyer, you will need to bring your driver's license or picture identification, as well as the paid receipt for your homeowner's insurance. Your attorney will instruct you on how to find out the amount of money to bring to closing, where the closing will be located, and what you need to bring. Please note: you will need a certified or cashier's check (the title company WILL NOT accept a personal check). So plan ahead!

If you have any questions at any time, please do not hesitate to contact me at (847) 909-2337. I'm here to help you every step of the way!

If you are considering buying or selling a home in Lake Zurich, Hawthorn Woods, Deer Park, Kildeer, Long Grove, Barrington, Island Lake, Mundelein...or anywhere in the Northwest Suburbs of Illinois...give me a call! I'll be happy to assist you.

Congratulations! You are well on your way to the closing on the sale of your home. When I listed your home, we talked about what you could expect during the listing process. Now that you have a signed contract for the sale of your home, I would like you to know what you can expect during the next stage of the process.

Much is going on behind the scenes to ensure a smooth closing for you. I will do the following to coordinate the transaction for you:

• Deliver fully executed contract to you, the buyer's agent, and the attorneys
• Confirm receipt of earnest money deposit by the buyer
• Report contract status to the Multiple Listing Service(s)
• Confirm with buyer's agent the completion of mortgage application
• Coordinate the dates, times of home inspection, radon inspection, well and septic inspection, if applicable
• Assist in obtaining repair estimates as a result of home inspection, if applicable
• Contact buyer's agent and mortgage representative to confirm status of mortgage
• Meet appraiser at property. Provide copy of listing and other information about your home the appraiser may need
• Confirm house appraisal is adequate
• Verify that contingencies of sale have been satisfied
• Confirm receipt of written mortgage commitment and follow through on any "subject to" terms
• Assist you to coordinate any follow up inspections necessary
• Work with your attorney to confirm ordering of title work is complete
• Confirm completion of any agreed to repairs and forward copies of work receipts to closing parties, in conjunction with your attorney
• Confirm time, date and location of closing and inform you accordingly
• Coordinate buyer's final walk-through
• Notify closing parties as to walk-through results, and resolve questionable items prior to closing
• Remove sign and lock box
• Verify location of keys, garage door openers and warranty documents
• Attend closing/settlement with all applicable files, documents, keys and any other pertinent information

Here are some answers to specific questions I am sometimes asked:

When will the buyer's home inspection be done?

Most home inspections are completed within 5 business days after the agreement date on the contract. The inspection will be scheduled either through me or through my office similar to how showings were scheduled. It is important that your home be "show ready" for the inspection so it continues to make a good impression.

Who attends the home inspection?

The buyer's agent, the inspector and the buyer will be present for the inspection. You should plan to be away from your home during the inspection, but should make certain there is access to the garage, basement and attic.

How long does the home inspection last?

Most home inspections take 2-3 hours. If the buyers elect to have additional inspections, such as radon testing, the testing device is often placed in the home during the home inspection and picked up by the radon tester three days later. The well and septic inspections (if applicable) will be ordered by your attorney. The well and septic inspector usually contacts you directly to coordinate a convenient time, but sometimes is able to perform these inspections without having to enter your home and therefore does not contact you at all. The results of the well and septic inspection will be sent directly to your attorney. Your attorney will contact you if there were any defects found during the well and septic inspections.

What happens after the inspection?

After the inspection is completed, the buyer's attorney will send your attorney a summary report and repair request. Your attorney will review the report with you and will make recommendations as to what repairs should be made as well as what is required under the contract. I will also discuss this with you and make my recommendations based on conversations I have had with the buyer's agent that the attorney may not be aware of.

What is attorney review?

The attorney review period is typically 5 business days from the date the contract is signed. Your attorney will go over the contract with you during this time frame and may make suggestions to modify the contract to better protect your interests. The buyer's attorney will do the same for the buyer.

Once any home inspection issues or changes to the contract have been resolved and agreed upon by both the buyer and seller, what happens next?

The appraiser will contact me to schedule the appraisal of your home. I will contact you to advise you of the date and will meet the appraiser at your home. Your home should be "show ready" for the appraiser so it makes a good impression.

What about the buyer's mortgage?

The buyer usually has requested a specific mortgage approval date within the contract. This is the date that they have indicated they will have final mortgage approval. I will check regularly with the buyer's mortgage company to follow up on the buyer's loan status. In the event the buyer's lender cannot fully approve the buyer by the specified date, the buyer's attorney will send a letter to your attorney requesting additional time for full mortgage approval. Please do not be alarmed by this request, very often the buyer's lender is waiting for information, such as appraisal or title work, and once the information is supplied the approval is generally forthcoming within a few days.

When will the lock box and sign be removed?

The lock box and sign generally remain in place until the day of closing. By then, all inspections have taken place, the appraisal is done and the walk through is complete...and everything is ready to close.

When do I turn off the utilities?

Notify your present utilities and order a final reading (if applicable) approximately 2 weeks prior to the closing. This includes gas, electric, water, cable and phone. Don't forget to cancel or transfer deliveries, newspaper, magazines, garbage collection, etc.

Should I cancel my homeowner's insurance?

Your homeowner's insurance should remain in place until at least the day after the closing. You should contact your insurance agent and inform him or her that you will be closing on the sale of your home. You want to make certain that your valuables are insured throughout this process...whether in your current or new home, in transit or in storage. 

Do I make my next mortgage payment?

You should make your next mortgage payment if you are scheduled to close after the 15^th day of the month. If you are closing prior to the 15^th day of the month, you should consult with your attorney prior to making the mortgage payment for his or her advice.

Do I order the survey?

Your attorney will order the survey. You do not have to be home for the survey. The surveyor will leave small flags or stakes in the four corners of your yard. These flags or stakes must remain in place until after the closing. If you have a lawn care service, please be sure they do not remove them.

When is the final walk through?

The buyers are entitled to a final walk through of the home prior to closing, to make sure the home is in the same condition as it was when the offer was made and that all home inspection issues have been resolved. This is typically done the day before or the day of the closing and will be scheduled through me or my office. The contract states that your home should be "in broom clean condition" but my thoughts are "do unto others as you would have them do unto you."

When do I have to be out of my house?

If the contract specifies that possession will be delivered at closing, you need to be out of your house by the time and date of the closing.

Do I have to attend the closing?

In most cases, you do not have to be at the closing on the sale of your home. Most attorneys are happy to prepare power of attorney documents and will sign documents on your behalf at the closing. Please contact your attorney for more information.

When is the closing?

The closing time and date will be set by the attorneys based upon their schedules and the availability of the title company representative.

If you have any additional questions at any time, please do not hesitate to contact me at (847) 909-2337. I'm here to help you every step of the way!

If you are considering buying or selling a home in Lake Zurich, Hawthorn Woods, Deer Park, Kildeer, Long Grove, Barrington, Island Lake, Mundelein...or anywhere in the Northwest Suburbs of Illinois...give me a call! I'll be happy to assist you.

Okay, it's time for me to tell you about another of my favorites...

My #1 pick for favorite lunch spot is CHIPOTLE!

I have to admit that I visit Chipotle about once a week. It's like an obsession. The burritos are fantastic, but I can only eat about half of one (okay, I'll admit I'm capable of eating the whole thing but refuse to do so!) Always mindful of the waistline, I've recently discovered the salad. With chicken, cheese, black beans and a slightly spicy/sweet dressing, it really hits the spot. The chips and guacamole are really very good as well. One of my favorite things about Chipotle is that you can build your own meal to your taste and preferences (chicken, beef or vegetarian? mild, medium or spicy salsa? rice? black or pinto beans? lettuce? sour cream?). You choose exactly what you want and everything is FRESHLY prepared. Plus, as you can see by their billboards...Chipotle has a great sense of humor!

Oh, don't forget to put your business card in the fishbowl. I've won lunch for all my pals at work 3 or 4 times now!

My Chipotle is located at 20505 N. Rand Road, Kildeer, IL 60047; Visit www.chipotle.com for more information and to find a location near you!