Showing posts with label Evanston Listings. Show all posts
Showing posts with label Evanston Listings. Show all posts

Monday, November 26, 2012

9 Easy Home Winterization Projects

9 Easy Home Winterization Projects


As we near the end of November, we all are starting to sense that the infamous Chicago winter is right around the corner. While winter can be a beautiful time in Evanston with its charming downtown gleaming with holiday lights and cheer, having energy bills go through the roof is something that seems to weigh heavily on everyone’s mind.
To ensure your Evanston home is as energy efficient as possible this winter, we’ve gathered ten projects that you can do this weekend. You’ll not only save money, but you’ll be promoting eco-friendly living at the same time, which is something we can all appreciate! Make your Evanston home feel warmer without turning up the heat this winter. With these winterization tips, you'll save energy without spending much money

1. Dodge the Draft(s)
According to the U.S. Department of Energy, drafts can waste 5% to 30% of your energy use. Start simple and adopt that old Great Depression fixture – the draft snake, which you can easily make yourself. Just place a rolled bath towel under a drafty door, or make a more attractive DIY draft snake with googly eyes, felt tongues and the like. You can use any scraps of fabric -- even neckties -- and fill with sand or kitty litter for heft. Make sure drafts aren't giving your thermostat a false reading too, and read on for more advanced solutions.

2. Change Furnace Filters
Yes it's easy to forget, but it's important to replace or clean furnace filters once a month during the heating season. Dirty filters restrict airflow and increase energy demand. Here's a worry-saving tip: mark a monthly check on your calendar.
Better, consider switching to a permanent filter, which will reduce waste and hassle. Did you know that disposable fiberglass filters trap a measly 10 to 40% of debris? Electrostatic filters trap around 88%, and are much better at controlling the bacteria, mold, viruses and pollen that cause illness and irritation. They cost $50 to $1,000 or more. Another good choice is a genuine HEPA filter (like the one pictured), which can remove at least 99.97% of airborne particles. HEPA filters are based on Department of Energy standards. But avoid "HEPA-like" filters, which can be vastly less effective. If your entire furnace is in need of replacement, it will cost a lot more -- but replacing an inefficient burner for a modern machine will save you every month through the heating season.

3. Run Fans in Reverse
Most people think of fans only when they want to be cool, but many ceiling units come with a handy switch that reverses the direction of the blades. Counterclockwise rotation produces cooling breezes while switching to clockwise makes it warmer: air pooled near the ceiling is circulated back into the living space - cutting your heating costs as much as 10%!

4. Turn Down Your Water Heater
While many conventional water heaters are set to 140 degrees F by installers, most households don't need that much steam, and end up paying for it -- in dollars and the occasional scalding burn. Lowering the temperature to 120 degrees F (or lower) would reduce your water heating costs by 6% to 10%. If you start to wonder why you need a tank at all, then you may be ready for a tankless water heater, or to go solar.


5. Mind That Thermostat
It's easy to forget to turn down the heat when you leave your home, but doing so is one of the surest ways to save money. Most households shell out 50 to 70% of their energy budgets on heating and cooling, so why pay for what no one uses? For every degree you lower the thermostat during heating season, you'll save between 1 and 3% of your heating bill. Make it easier with a programmable thermostat; they are widely available for as little as $50, and the average family will save $180 a year with one. Go a step further and ask your local utility if it's making smart meters available in your area, as part of recent federal smart grid investments.

6. Put Up Some Plastic
For just a few dollars, pick up a window insulation kit at your local hardware or discount store. Don't worry -- properly installed, window plastic is essentially invisible. Adding a buffer against drafts and extra still air space can give a nice boost to your home's ability to hold heat. Save even more by hiring a pro to install a high-tech “low-e film” directly to the window glass. If your windows are old, consider investing in a set of efficient windows.

7. Use Caulking and Weatherstripping
Simple leaks can sap home energy efficiency by 5% to 30% a year, according to the U.S. Department of Energy. That means it pays to seal up gaps with caulking and weatherstripping.
Take a close look at places where two different building materials meet, such as corners, around chimneys, where pipes or wires exit and along the foundation. Use the incense test: carefully (avoiding drapes and other flammables) move a lit stick along walls; where the smoke wavers, you have air sneaking in. And heating or cooling sneaking out.
In another method, have someone on the outside blow a hair dryer around each window while you hold a lighted candle inside. If the candle flickers or goes out, you need to caulk or weather strip around the frame.

8. Put on a Sweater

Make like Jimmy Carter and dress warmer for winter, even inside. Gone are the days (for most of us at least) when we can afford to lounge around in our underwear while it's frosty outside. Remember what we said about each degree on the thermostat costing you money? Roughly speaking, a light long-sleeved sweater is worth about 2 degrees in added warmth, while a heavy sweater (even the ugliest of ugly sweaters) adds about 4 degrees. So cozy up and start saving.

9. Upgrade to an Efficient Furnace
Thankfully it's not something you have to do every year (or even every decade), but if your furnace is old you could save a lot of money in the long run (and improve your home's value) by upgrading to a new unit.
Make it an Energy Star-certified furnace and you'll save 15% to 20% versus standard new models. You could save 50% or more compared with many old furnaces still in operation. Photo Credit: Energy Star

Whether you decide to do a few, or all of these projects, you’ll find that the energy savings and eco-friendly choices will be well worth the effort this winter. Our goal is to not only help you buy or sell your home in Evanston, but to be Evanston Real Estate agents that have a holistic approach to the Evanston Real Estate market and lifestyle.
Please feel free to contact us if you have any questions about buying or selling in Evanston. We’re here to help and look forward to talking with you!



The Thomas Team
@ Properties
Chicago's #1 Real Estate Brokerage
Chicago & North Shore Real Estate
Visit Our Website
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Wednesday, October 17, 2012

House Prices: Looking for the Bottom? We May Be There
 




With sales and prices increasing in most regions of the country, it looks as though housing recovery is in full swing. There are more and more housing analysts declaring that we have turned the corner. A recent article on money-rates.com explains that now may be the time to act if you are thinking of purchasing ahome.
 
“Right now, conditions for buyersare exceptionally good, because current mortgage rates are at record low levels, and housing prices are still well off their peaks. Already though, recent numbers indicate that housing prices are starting to move. If this continues, mortgage rates might follow. In particular, if lower-end housing prices are now making the strongest gains, people looking to enter the housing market for the first time should prepare to act.” 

Others Are Also Calling a Bottom

In a Chicago Sun Times article, co-creator of the Case-Shiller home price index Robert Shiller agreed saying that, even though there are still questions in the overall economy, “it’s a good time to buy a house”.

Ivy Zelman, chief executive at research firm Zelman & Associates, has also said:
       “[Housing] is turning positive and we see the data reflecting that.”
 
Writing in the Financial Times, Roger Altman, former deputy Treasury secretary, said:
       “A turn in the [housing] market is occurring now and it should become a boom by 2015.”
 
And Jamie Dimon says the U.S housing market has “turned the corner” as JPMorgan Chase and Wells Fargo, the two biggest US Banks have seen a surge in mortgage demand. He also warned that interest rates would “probably” rise “sometime in 2013”.

What Does That Mean to You?
If you have been waiting for the bottom in real estate prices, it seems your time may have arrived. As the Money-Rate article concluded:
 
“The housing market may be better off than people know. As many found out during the housing boom, waiting until everyone knows the market is healthy before you buy can be an expensive proposition.”
**Information taken from KCM Blog
 
If you are considering buying or selling a home in Evanston, please let us know.  Your experience should be one that leaves you feeling  satisfied.  Be sure to contact us today so that we can put our expertise in the Evanston Real Estate market to work for you!
 
The Thomas Team
@
Properties
 
Chicago's #1 Real Estate Brokerage
Chicago & North Shore Real Estate
Visit Our Website
View Our Listings
Contact Us

Friday, September 21, 2012

Buying or Selling a home in the Fall or Winter

If you're buying or selling a home and the end of the spring-summer real estate season is stressing you out, relax.  Even though real estate sales do fall off at the end of warm weather, there's still plenty of buying and selling coming this fall and winter.
Remember, sales volume is not your problem. The only house you care about is the one you're selling or hoping to buy. What's more, many home buyers and sellers are bucking the seasonal nature of residential real estate. They're finding that buying or selling Evanston houses in the fall and winter months has many advantages -- not the least of which are the gorgeous fall leaf colors and holiday decorations that showcase many homes to their fullest potential
No matter which side of the transaction you're on, you can make the off-season work to your advantage. Here's why:

Sellers
  • Buyers are motivated. Many off-season Evanston buyers are more serious than some among the horde who descend like locusts on open houses in the spring. After all, there's a reason they didn't buy during the peak season. Perhaps they didn't have enough for a down payment or couldn't get financed. The fact that they've entered the market in a downtime might be very meaningful
  • There is a Second Season.  While sales definitely fall of in the early fall, they usually escalate again in October in many area.
  • Cyber Sales.  The expansion of the internet and the numbers of people who use it have added a significant off-season dimension to Evanston real estate stales.  Potential Evanston buyers now find Evanton properties for sale in the comfort of their home through a vast array of Websites, such as www.TheThomasTeamOnline.com.  Virtual tours can take them into homes an they can preview neighborhoods, schools and city information before venturing our.
  • Hindsight.  When you put up a home for sale in the fall or winter, you have the advantage of hindsight.  You and your agent can review which homes sold quickly in your area during the warm-weather "peak season."  This gives you the chance to adjust your price and terms accordingly and to make your home more marketable.
Buyers
  • There's Less Competition. How many times did that darling Evanton house you had your eye on in May get bought out from under you while you and your spouse talked over making an offer the very next day.  Sellers are often pressured. Motivation is critical in any real estate situation. Find out how long the house has been on the market. If it's been hanging around awhile, there's a good chance the seller is getting antsy. Sellers frequently drop their price -- especially as Christmas draws near -- giving buyers lower down payments and closing costs. If it went on the market after the peak season ended, the seller may have a pressing reason to sell, such as a job transfer, financial problems, divorce or illness to name just a few.
  • Tax Considerations. When you buy a new home before the end of the year, you'll be able to report items such as mortgage interest, points, closing costs, property taxes and more on your tax return.
  •  Interest Rates. If you're ready to buy, waiting until next spring can spell disaster. Many experts think we've seen the end of record-low interest rates and that mortgage rates will only go up from here
  •  Beating Price Hikes. As high as the Evanston home prices may seem to you now, chances are they'll only be higher when a new real estate season starts in March.
As Evanston Real Estate agents, The Thomas Team, we hope these tips are useful as you consider buying or selling a home in Evanston. Our goal is to provide you with current real estate information and tips as you enter the Evanston Real Estate market.

If you are ready to begin the process or still have a few more questions; please contact us! We’re here to help in any way we can and we look forward to working with you!

The Thomas Team


@Properties
Chicago's #1 Real Estate Brokerage

Visit Our Website
View Our Listings
Contact Us







Saturday, May 26, 2012

Before You Buy an Evanston Short Sale

 
Buyers pursue Evanston shortsales to get a good deal. So when you see a price listed for a home that you think is too low for the neighborhood, before you jump on that price like hot fudge on a sundae, ask your Thomas Team agent to call the listing agent to find out if the home is a short sale.
Because you might want to think twice about making an offer on a pre-foreclosure, short sale home. It's not as simple as you may believe, and very few can close in 30 days or less.
Many of our Evanston home buyers have waited 4 to 6 months to close on a short sale, sometimes longer.

What is a Short Sale?
A short sale means the seller's lender is accepting a discounted payoff to release an existing mortgage. Just because a property is listed with short sale terms does not mean the lender will accept your offer, even if the seller accepts it. 

Be aware that the seller need not be in default -- to have stopped making mortgage payments -- before a lender will consider a short sale. A lender may consider a short sale if the seller is current but the value has fallen. The seller may have over-encumbered, owe more than the home is worth, so a discounted price might bring the price in line with market value, not below it.

Check the Public Records
Do your research before making an offer to purchase. Your Thomas Team agent can find out who is in title, whether a foreclosure notice has been filed and how much is owed to the lender(s). This is important because it will help you to determine how much to offer.

If there are two loans, you could have a problem. The first mortgage lender's position is protected by the second lender, unless the second lender does not want to foreclose. If a seller owes $160,000 on the first and $40,000 on the second, offering $160,000 leaves nothing for the second. The first will need to give something to the second to gain its cooperation.

Hire an Evanston Real Estate Agent with Short Sale Experience
It's one strike against you if the listing agent has never handled a short sale, but it's even worse if the agent has no experience in that arena. You need an experienced short sale agent, that’s where the Thomas Team can help you.

The Thomas Team agents have experience in short sales and can help to expedite your transaction and protect your interests. You don't want to miss any important detail due to inexperience or find out your transaction is not going to close on time because no one has followed up in a timely manner.

Qualifying the Property and Seller for a Short Sale
A lender is unlikely to agree to a short sale unless the seller has no equity and is unable to repay the difference between your sales price and the existing loans. Sellers need to provide a hardship letter to the lender. Sellers may also owe taxes on the amount of debt that is forgiven.

A seller we know once demanded that the buyer slip the seller $1,000 to be given the right to purchase the seller's property. We said no. This is fraud. The lender legally pursued that seller. Do not be lured by sellers who suggest this practice. In a short sale, the seller receives no money because the lender is losing money.

Submit Documentation and Purchase Offer to Lender
Once the seller has accepted your offer, it gets sent to the lender for approval. You do not have a deal until the lender accepts. Also, send the lender a copy of your earnest money deposit. Do not be astonished if the lender asks you to increase it. 

In addition, the lender will want to see that you have your own loan available and you are pre-approved. Send a pre-approval letter to the lender. It will help if your real estate agent sends a list of comparable sales that support the price you are offering to pay for the home.

Give the Short Sale Lender Time to Respond
You and your real estate agent should make your offer contingent upon the lender's acceptance. Give the lender a time frame in which to respond, after which, you will be free to cancel. 

Some lenders submit short sales to committee, but most can make a decision within two to three months. Get a name and phone number for the appropriate contact at the lender. The Thomas Team won’t send an offer blindly to a department.

Reserve the Right to Conduct Inspections
Generally, the lender will not pay for customary items that a seller would pay. These include home protection plans for the buyer, buyer credits of any kind and pest / termite inspections. A buyer will be asked to purchase the property "as is," which means no repairs.  It is extremely important that a buyer obtain a home inspection. The Thomas Team can help with this.

If you have any questions about buying an Evanston short sale, please let us know.  We're here to help in any way we can and would enjoy the opportunity to help you make Evanston your new home.
We look forward to hearing from you.


The Thomas Team
@ 
Properties
Chicago's #1 Real Estate Brokerage

Friday, May 18, 2012

Before You Buy Your First Evanston Home - Tips for a First-time Home Buyer


It's not uncommon for a first-timehome buyer to say to me, "Gosh, just last week I called you about buying an Evanston home and now I'm in escrow! How did this happen so fast?"
The answer is it didn't. First-time home buyers start the search long before most even realize it.
Here's what you can expect from your home shopping experience.

Benefits for a First-Time Home Buyer
You should buy an Evanston home. That's what you've been hearing from friends and family, right? So, by now you have likely already weighed the benefits and decided that Evanston home ownership was the best decision for you. That's a major hurdle now passed. You are focused and certain. Good.

Defining Search Parameters for a First-Time Evanston Home Buyer
Almost 80% of all home searches today begin on the Internet. With just a few clicks of the mouse, home buyers can search through hundreds of online listings, view virtual tours, and sort through dozens of photographs and aerial shots of neighborhoods and homes. You've probably defined your goals and have a pretty good idea of the type of home and neighborhood you want. By the time you reach The Thomas Team realestate agent's office, you are halfway to home ownership.

How Long Should It Take to Buy Your Evanston First Home?
In sellers’ markets, often we show only one home. After all, how many homes does one family need?  A few buyers will look for years, but buyers who do that aren't motivated. A motivated buyer will find a home within two weeks. Most of our buyers find a home within two days.

Good Evanston real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Your ThomasTeam agent should preview homes before showing them to you as well.

How Many Homes Will a Home Buyer See?
Studies show that your memory dramatically improves after consumption of carbs and slows upon consuming sugar. So, lay off the soft drinks and have a hearty meal of carbs before venturing out to tour homes. The average number of homes that we at the ThomasTeam show to a buyer in one day is five. Any more than that, and the brain is on overload. Therefore, don't expect to see 20 or 30 homes; although it's physically possible to do so, you probably will not remember specific details about any of them.

The "Red Shoes" Experience for an Evanston Home Buyer
Women will relate to this. Say, you need a new pair of red shoes. You go to the mall. At the first shoe store, you find a fabulous pair of red shoes. You try them on. They fit perfectly. They are glamorous. Priced right, too. Do you buy them? Of course not! You go to every other store in the mall trying on red shoes until you are ready to drop from exhaustion. Then you return to the first store and buy those red shoes. Do not shop for an Evanston home this way. When you find the perfect home, buy it.

How a First-Time Home Buyer Can Rate Inventory
·   Bring a digital camera and begin each series of photos with a close-up of the house number to identify where each group of home photos start and end.
·   Take copious notes of unusual features, colors and design elements.
·   Pay attention to the home's surroundings. What is next door? Do 2-story homes tower over your single story?
·   Do you like the location? Is it near a park or a power plant?
·   Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.

View Top Choices a Second Time Before Buying That First Home
After touring homes for a few days, you will probably instinctively know which one or two homes you would like to buy. Ask the Thomas Team to see them again. You will see them with different eyes and notice elements that were overlooked the first go-around.

At this point, your Thomas Team agent will call the listing agents to find out more about the sellers' motivation and to double-check that an offer hasn't come in, making sure these homes are still available to purchase.

Making the Selection To Buy an Evanston Home
I'll let you in on a little secret. We generally know which home a buyer is going to choose, and I suspect most other agents operate the same way. It's an intuition. But we at the ThomasTeam make it a practice not to steer buyers, and we insist that buyers choose the home without interference from us. It's not our choice to make.

Real estate agents are required, however, to point out defects and should help buyers feel confident that the home selected meets the buyer's search parameters. 

If you have any questions about buying your first Evanston Home,  please let us know.  We’re here to help in any way we can and would enjoy the opportunity to help you make Evanston your new home!
We look forward to hearing from you!


The Thomas Team
@ 
Properties
Chicago's #1 Real Estate Brokerage