The Thomas Team Blog

Tuesday, November 8, 2011

Get Involved in the Evanston Community This Weekend!

One of the things we enjoy about being real estate agents in Evanston is the opportunity to tell potential buyers or those relocating to the area what makes Evanston such a great place to call “home.” This vibrant, community-centered town is a unique blend of big city life, with Chicago nearby, and small town atmosphere. Charming turn of the century homes as well as renovated downtown Evanston condos also provide a wide variety of living options!

As Evanston Real Estate agents, we want to provide you with up to date Evanston Real Estate market news and pertinent home buying and selling information, but also give you a taste of the Evanston lifestyle. Today, we’re highlighting a few great events taking place in Evanston this weekend that you won’t want to miss!

Evanston Children’s Theater: Sherlock Holmes
Levy Center
300 Dodge Avenue, Evanston

Friday- Sunday, November 11-13

- You’ll enjoy this highly-entertaining adaptation of Sir Arthur Conan Doyle’s famed detective story combines mystery, romance, action, danger and laughter. The Evanston Children’s Theatre shows are performed by youth age 8 through 8th grade and is a way the community is building a love for the arts into our future generations. View more information about this event on the Evanston website!

Central Street Community Day
Central Street, Evanston
www.cityofevanston.org/events/2011/11/central-street-community-day

Saturday, November 12

- Give back to local charities this Saturday with Central Street Community Day! Any shopping you do at participating businesses will give a portion back to the charity of your choice! Simply print the Community Day flyer and take it with you as you do your shopping on Saturday. Charities include C.A.R.E. for the Evanston Shelter, Center for Independent Futures – Evanston, and Dreams Delivered - Woman's Club of Evanston. Download the flyer from the Evanston website and help give back this weekend!

We hope you’re able to take advantage of one, or both of these events! Both are great ways to get involved in the Evanston community whether you’re a permanent resident or checking out Evanston to see if it’s where you’d like to live.

Also, don’t forget about the upcoming 1st Annual Flying Turkey 5K Walk/Run! This new event in Evanston will quickly become a favorite Thanksgiving Day tradition for Evanston residents, so you’ll want to be sure to get involved! Please view our previous blog post for more information!

If you’re currently an Evanston resident, we’re sure you enjoy living in Evanston as much as we enjoy living and working here as Evanston Real Estate agents! Thinking of moving to this great city? Please feel free to contact us! We’ll answer any questions you may have about living in Evanston and can show you some of the gorgeous homes currently on the Evanston Real Estate market.

We look forward to hearing from you!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage

Tuesday, November 1, 2011

How to Determine if Refinancing Your Evanston Home is Right for You

Whether you’ve been considering selling your Evanston home in the near future, or are interested in cashing in on the currently low interest rates; you may be considering refinancing your Evanston home.

In working in the real estate market as Evanston Real Estate agents, we often have people ask us about refinancing. While there can be great advantages, such as lowering your monthly mortgage payments, it’s also important to think through the decision to refinance. Here are five main factors in determining if refinancing is right for you.

1. Interest rates- Refinancing right now is great for homeowners whose current rates are above 5.5% and are hoping to save on their monthly mortgage costs. For an Evanston home; you could potentially save a percentage point or more on an outstanding mortgage.

2. Credit score and income- Most banks in today’s market will require you to have a minimum credit score of 620 in order to refinance. You will also need to prove that your household finances have been stable. If unemployment or other issues have come up that have decreased your finances significantly; you’ll find it hard to refinance.

3. Costs- Refinancing your home will cost you typically 2% of the new loan amount. This includes application, appraisal and inspection fees. Included within refinancing costs is the new escrow account you’ll need to fund. The lender will set up this account for home-insurance and property-tax payments from which they’ll draw annually. Want to avoid this fee? Use the same lender you used for your initial mortgage. Their only costs are limited to issuing new paperwork, so they’re able to keep costs low and can oftentimes speed up the process. Another option is a good faith estimate. Your Evanston Real Estate agent can help you determine which option would work best for your home.

4. Adjustable-rate mortgages- Determining whether you’d like to go with an adjustable-rate mortgage or a fixed-rate mortgage can be tricky. An ARM can be a good choice for today’s market as you’ll cash in on the current lower rates, but can be unstable in the long run. However, a fixed-rate mortgage ensures that your rates will remain stable and won’t rise if the market changes.

5. Greater pricing disparity- Based on your current credit score, the rates offered for refinancing can vary greatly. Lenders will look at Illinois’ average loan-to-value ratio and the percentage of homes with negative equity. The higher the percentage of these homes, the higher the rate a borrower will most likely be offered.

As always, as the Thomas Team, we’re here to help you in any way we can! If you’d like to discuss how refinancing could work for you or if you’re interested in selling or buying a home in Evanston, let us know!

We’d enjoy the opportunity to work with you and help you navigate the Evanston Real Estate market!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage

Tuesday, October 25, 2011

Top 10 Eco-Friendly Projects to Prepare Your Evanston Home for Winter

As we near the end of October, 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 it’s 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!

1. Replace your shower head- Your shower head is a water-waster if it fills a gallon bucket in 20 seconds or less. Install a new WaterSense-labeled showerhead and you could save more than 2,300 gallons of water annually, according to the Environmental Protection Agency.

2. Add aerators to your faucet- You can save an additional 500 gallons of water annually simply by replacing a standard aerator, which delivers more than 2.5 gallons per minute, with a low-flow one, with a flow of 0.5 to 1 gallon per minute. Low-flow aerators will cut water and energy usage while maintaining adequate water pressure.

3. Install a water-efficient toilet- The EPA estimates that a family of four replacing a home's older toilets with WaterSense-labeled models average $90 in annual savings on their water bill and $2,000 in the toilet's lifetime.

4. Switch to florescent light bulbs- As the days get shorter, you'll keep the lights on more. Now is a good time to switch from traditional, incandescent light bulbs to compact fluorescent bulbs. Energy Star-qualified CFLs use 75% less energy and last as much as 10 times longer than incandescent bulbs. Not ready to change every light bulb in your home? Start with your five most-used light fixtures, and you can save more than $65 annually.

5. Install a programmable thermostat- With a programmable thermostat, you can preset temperatures for your home and automatically reduce heating and cooling when you don't need them as much or when you’re away from your Evanston home. Energy Star says an average household can save about $180 annually on its energy bills by properly setting its programmable thermostat and maintaining those settings.

6. Build or install an insulated attic hatch- If your attic entry is not insulated, your home gains heat in summer and loses it in winter, greatly increasing your energy bills. Taking this on as a DIY project or hiring a contractor to do it will cut down on losing large amounts of heat in the winter and will result in a lower energy bill.

7. Stop chimney drafts- Even with the damper closed, your home's heated air goes up the chimney in winter and hot outdoor air comes down in the summer. When you're not using it your fireplace, plug the flue with a chimney balloon like the Draftstopper from Battic Door Energy Conservation Products.

8. Drain sediment from your water heater- To ensure your water heater's performance and longevity, drain it annually to get rid of accumulated sediment such as sand, minerals and other non-soluble debris that settles at the bottom of the tank. You’ll know to do this if your heater sounds like a coffee pot, making bubbling or burping noises. The basic strategy is to attach a garden hose to the drain valve at the bottom of the tank and run it outdoors or to a utility tub.

9. Replace your washing machine hoses- Washing-machine hoses don't last forever, regardless of the material, whehter reinforced rubber or stainless steel, even those touted as "burst-proof." A broken hose can deluge your Evanston home with hundreds of gallons of water per hour, and your homeowners insurance probably won't cover the flood. Check the hoses frequently for rusting, bulging, cracking, fraying and leaks. All are signs that you should replace the hoses now. While you're at it, check the hoses leading to water heaters, dishwashers and refrigerator icemakers.

10. Add insulating window treatments- You can increase your comfort and cut your energy bills this winter with thermal window coverings. There are a wide variety of options out there from foam backed thermal curtains and liners to energy efficient window shades.

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

Tuesday, October 18, 2011

6 Mistakes You'll Want to Avoid When Selling Your Evanston Home!

A few week ago, we talked about five tips for selling your Evanston home this fall, and today we wanted to revisit the topic of going through the home selling process. As Evanston Real Estate agents, we know that there can be a number of questions and concerns about selling in today’s market, so we want to help you prepare as much as possible!

This week, we thought we’d point out six of the most common mistakes when it comes to selling your home. Being aware of what not to do can help you avoid some of those blunders that trip other home sellers up and cause a long and stress filled selling experience. We want you to navigate through the sale of your Evanston home with ease and being armed with a solid background of the current Evanston Real Estate market and what to expect can help you do so! We encourage you to take a few minutes to review these mistakes you’ll want to avoid!

1. Thinking your home is the exception- While you may have a beautiful home in Evanston; this alone will not sell your home. It’s easy to get emotionally attached to your home and feel that the time, energy and money you’ve invested makes it worth every penny of the selling price. However, to help your home sell in today’s market, you will need to price it competitively or else it will get overlooked.

2. Not checking your agent’s references- Your Evanston Real Estate agent will play a vital role in getting your home sold. You’ll want to be sure to choose your real estate agent carefully by checking their references, reviewing their testimonials and looking at their home selling record.

3. Not scouting the competition- Getting an idea of your competition- what the homes are like and what they’re selling for- is imperative for pricing your home correctly. It will also give you a realistic view of the current Evanston Real Estate market and what you can expect from your home sale. Your Evanston Real Estate agent will provide you with a list of “comps” (comparable homes that are currently on the market or that have sold recently), which will also help you get an idea of how your home will fare on the market.

4. Not prepping the property- Selling a home in today’s real estate market means having it in prime condition. Whether it’s a fresh coat of paint, cosmetic repairs or removing clutter from your home, making sure your home shows well to buyers is key. Buyers want to know the home is in move-in ready condition, so they can easily begin enjoying their Evanston home from the moment they move in.

5. Being present during an open house- You’ll want to leave your home anytime there’s an open house or showing. This allows the buyers to feel at ease and to talk freely with their real estate agent about the home. They will also feel more free to explore the house and take their time envisioning themselves in your home.

6. Taking negotiations personally- You can’t take offers on your home or negotiations personally. While you do have a lot invested in your Evanston home, the emotional ties you have need to be kept at bay. This will give you the opportunity to think clearly and be flexible with what the buyers is looking for and can make the negotiation process run smoothly.

Staying clear of these mistakes and dealing with an experienced Evanston Real Estate agent will ensure an efficient and stress free home selling process! As always, we’re here to help so feel free to contact us today with any questions you have or to get started!

We look forward to hearing from you!

The Thomas Team
@ Properties

Chicago's #1 Real Estate Brokerage