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Timing Is Everything When Buying & Selling Your Fox River Valley Home!

by The Rullo Team

Timing is everything when entering the real estate market. Trying to coordinate the Selling of your current home with Buying a new home can be incredibly stressful, both financially and emotionally. But, help is here! If you are looking to enter the Fox River Valley real estate market, here are 7 timing options for selling and buying your home.

 

The 1st timing option is Selling Then Buying. This is the most commonly used option due to the financial stability it offers. When you sell your home first, you avoid having two mortgages and have additional resources to use towards the cost of a new home.

 

The 2nd timing option is Buying Then Selling. This option offers the convenience of time. If you can afford having two mortgages at once, buying first and then selling allows you to make improvements to your new home before moving in and making updates/repairs to your old home before listing. Only choose this option if you can truly afford the costs of two homes at once.

 

The 3rd timing option is Buying & Selling At Same Time. This option is also commonly found in the real estate market. It makes sense to list your current home while searching for a new one but you are putting yourself at the mercy of others. Since the timing is completely dependent on buyers for your home and the seller of the home you want to buy it is very important that you work with a realtor during this time to help ensure timing success for you.

 

The 4th option is Selling on Contingency. You should only use this option when none of the other ones have worked for you. Selling on contingency means that there is a contingency clause on your current home that states you will sell it ONCE suitable housing has been found by you. This has the potential to turn buyers away since most want to move in as soon as possible.

 

The 5th option is Buying On Contingency. This option is the reverse of the previous one. It allows the buyer to add a contingency clause that they will purchase the new home once they sell theirs. Few sellers are willing to wait for buyers so this option is not commonly used.

 

The 6th option is Right of First Refusal. A Right of First Refusal (ROFR) allows a particular buyer to submit an offer before all other buyers. This option is only available to buyers that clearly have their finances, including preapproval for a mortgage, in order. Since the limited offers could mean less money for the seller, you will not see this timing option very often.

 

The 7th and final option is Renting. Instead of selling your current home, you always have the option to rent it out. This rental income will cover your current mortgage, freeing you up to buy a new home. Only select this option if you have a reliable tenant that you can trust.

 


 

Work with The Rullo Team to determine the right timing option. Give us a call today at (630) 513-1771 or visit our website at https://www.therulloteam.com/.

What To Expect During The Home Inspection

by The Rullo Team

Knowing what to expect every step of the way when buying a new home can help eliminate some of the stress from the process. One of the important steps during this process is the Home Inspection. This step occurs before the final closing on your home. A home inspection helps protect you and your investment by allowing you discover any potential issues with the home that might have been overlooked or undisclosed. You can then decide whether to renegotiate with the seller or, if the issues are too extreme, walk away from the home. Here are the important things to expect when you are ready for a home inspection.

 


Make sure to hire a highly skilled home inspector. You want to make sure that you use someone that will complete a thorough review of the home. In order to find the best home inspector in the Fox River Valley, contact the Rullo Team for our recommendations. Once you have the names of recommended home inspectors, it is smart interview them to find the one best for you. Use this opportunity to find out about their training, expertise, and experience. You should also ask to see their past home inspection reports to make sure that they are highly detailed and offer recommendations for issues found.

 


Attend the home inspection, if possible. This will allow you to walk through the home with the inspector and find out about any issues immediately. It gives you the opportunity to fully discuss recommended fixes with a professional. The home inspector will review everything between the roof to the basement floor. Although the physical structure of the home and all major systems and appliances will be inspected, it is important to realize that there still could be some hidden issues that the inspector just is not equipped to reveal. By having a discussion with him/her during the process, however, you can ask questions and find out if there are additional things you should be on the lookout for should you decide to continue with purchasing the home.

 


For more Home Buying Tips or to Search Homes for Sale in the Fox River Valley, give us a call today or visit our website at http://www.therulloteam.com/. We are happy to help you every step of the way to find and purchase your dream home!

How To Search For Your New Fox River Valley Home!

by The Rullo Team

Searching for a new home can truly feel overwhelming. It is easy to fall down the rabbit hole while searching the internet! Make your home search productive and effective for you by following these simple steps! You will surely find your dream home in Fox River Valley in no time!

 

Pre-Approval first! HBefore beginning your home search, get pre-approval for a mortgage. This will give you an accurate assessment of your available budget. Once you know your budget, you can focus on the homes that fit within your range.


 Determine Wants Vs. Needs! All home buyers come to the searching process with a list of items they are looking for in a new home. It is important to prioritize these items and determine which ones you cannot live without and which ones would be an added bonus. Create a wants versus needs checklist to help you focus in on what is most important in your new home.


 Pick A Style! Homes come in a variety of architectural styles. Determine which one makes the most sense for you. Do you prefer a ranch style home with everything located on a single floor or perhaps a cape cod style home with the children's bedrooms on the second floor? Instead of searching all the homes on the market, you can easily narrow down you search to only those homes that match the style you like best.

 

Choose Neighborhoods! As important as the home is in and of itself, its location should be equally important. You want to move to a neighborhood that will have the amenities that fit your lifestyle needs. Is it located within a good school district? How is the commute to work? Are there stores and restaurants within walking distance? Determine what is important to you and your family in the overall neighborhood and do some research. Once you find neighborhoods that will be the right fit, you can narrow your home search to those areas.

 

Take Notes! It is important that you are able to remember details of the houses you look at. After looking at several, though, it can be easy to start confusing the features available at each of the homes and/or the things that you didn't like about them. Take notes on the listing sheet while you tour a home. It is also important to take photographs of things that you like and don't like. By keeping all of this information, you can best determine which of the homes will truly be the best fit for you and your family.


Search Fox River Valley IL Homes for Sale! Let The Rullo Team help you find your dream Fox River Valley home! Give us a call at (630) 513-1771 and visit https://www.therulloteam.com/ to get started today.

 

5 Terms To Help You Close On Your Dream Fox River Valley Home!

by The Rullo Team

If you are in the market for a new Fox River Valley home, we know that the buying process can seem a bit complicated. This is especially true when there are words being used that you don't know how to define! Become a home Buying pro by knowing the definition of 5 important closing terms. Use these simple definitions as a starting off point to understanding the home buying process!

 

1) Down Payment – The down payment requires you to put money up front in order to secure a home loan. In general, mortgage lenders require 3% to 20% of the home value.

 

2) Private Mortgage Insurance (PMI) – If you make a down payment that is less than 20% of the price of the home, you will likely have to pay for private mortgage insurance. This insurance protects your lender in case you end up in foreclosure.

 

3) Annual Percentage Rate (APR) – The APR covers all the finances and credit costs you will incur from taking out a loan. These costs include the interest rate, broker fees, points, and other credit charges.

 

4) Closing Costs – Buyers and sellers both pay closing costs based on the agreement reached during price negotiations. These costs includes application fees, property fees, attorney charges, settlement documents, title examination, and title insurance.


5) Loan Estimate (LE) – The LE includes every detail of your loan agreement terms, including the estimated closing costs.



Let us help you close on your very own dream home this fall! Check out our current Homes for Sale . Give the Rullo Team a call today or visit our website at http://www.therulloteam.com/ today!

Find The Perfect Fox River Valley Home For Your Family!

by The Rullo Team

Room for a nursery? Check. Good school district? Check. Home buyers with kids (or who hope to have kids soon) know to look for properties with certain kid-friendly characteristics ... but do you know all the things you should check? Home buyers with kids have several things that they always keep in mind when they begin searching for a home. These include location within a great school district, room for your family to grow, and safety of the neighborhood. But, what about those things that are overlooked that could make a home less conducive for everyone in your family. If you are a parent and are in the market for a new home in the Fox River Valley, consider these 8 factors as you begin your search!


1. Open Floor Plan

If you have younger children, an open floor plan allows you to keep your kids in sight while you are taking care of other things, such as preparing dinner, in your home. Look for homes that have the family room, dining room, and kitchen open. Even as your kids get older and start using the basement or bonus room more, this open space will still be a perfect spot to gather together as a family throughout the day.

 

2. Placement of Bedrooms

Not only do you want to make sure your new home has enough bedrooms for everyone in your family, but you should also consider where those bedrooms are placed within the home. Decide whether you want to have all of the bedrooms located on the same floor so you can always hear what is happening in your children's bedrooms OR if you prefer the master bedroom on the first floor for some privacy.


3. Hot Items

Think about areas of the home that could get hot and potentially burn your children if touched. Radiators (though mostly found in older homes) can be hot to the touch. In addition, the glass over gas fireplaces can also become so hot that one could be burned if they accidently touch it. Make sure that you take necessary precautions if you have younger children in the home.


4. View of the Backyard

As important as it is to have a back yard for your children to play it, it is just as important to have an easy sightlight to that backyard from inside your home. This will allow you to keep an eye on your children as you do chores within the home.


5. Flat Yard

If your lot is too steep, it can make playing difficult and even dangerous for your children. Find a yard that is flat so your kids can safely play all that they want to.


6. Neighbors

Try to find out who the neighbors are in the area. Your children's safety should always be at the top of your mind when picking a new house.


7. Sidewalks

Even if you make sure not to move onto a street that has too much traffic, it can still be dangerous for kids to play and walk around outside if there aren't sidewalks in the area.


8. Walkability

Along with sidewalks, buyers with kids should pick out a home that is close to amenities. Make your life more convenient by moving to a spot that has parks, schools, restaurants, and stores within walking distance.



For more Home Buying Tips or to Search Homes for Sale in the Fox River Valley, give us a call today or visit our website at http://www.therulloteam.com/. We are happy to here to help you find a home that perfectly fits the needs of you and your children.

Looking to Buy your dream Fox Valley home? As a buyer, it is important to understand a home’s condition and maintenance. Learn to look past the design and decor elements of the home and recognize the structural “bones” of the house. Doing this will help you avoid potentially dangerous conditions and costly repairs should you end up buying the home. Become a smart buyer and use every opportunity you can to carefully inspect the home that you are interested in buying. Watch out for these warning signs that may be indicative of more serious structural problems within the home!

 

  • Incomplete or Badly Done Repairs/Renovations - Check for workmanship issues or tasks that seem incomplete.
  • Electrical Issues - Check for lights that flicker when on, warm outlets, flash burn signs near sockets and exposed wires.
  • Plumbing Issues - Check for leaky faucets, low water pressure, poor drainage, water stains near bathroom fixtures or on walls, peeling paint, musty or foul smells, and visible mold. 
  • Foundation Issues - Look for cracks in walkways and the driveway, unlevel floors and doorways (often noticeable in doors have large gaps underneath or on top of them), and trees with large roots near the foundation of the house. 
  • Roof Issues - Look out for warped, missing, or cracked shingles, materials that do not match the rest of the roof, and any noticeable wear or tear that indicates damage. 
  • Pest Issues - Check for areas that small rodents or insects could easily enter the house and be on the lookout for any wood damage that could indicate an issue. 

 

 

Being on the lookout for these warning signs allows you to have a more in depth conversation with the home inspector you hire. Work with an Experienced Realtor to help you throughout the process. Give our team a call today or visit our website at http://www.therulloteam.com/ to help you find the perfect home (free of warning signs) for you!

Buy Your Dream Home With These Financial Tips!

by The Rullo Team

Buying a new home in the Fox River Valley is a major financial commitment. However, you never need to feel like home ownership is out of reach. There are several steps you can take now to help you afford your dream home!

 



Find more Home Buying Tips and Search Homes for Sale in the Fox River Valley, by giving us a call today or visiting our website at http://www.therulloteam.com/.

Top Benefits for Buying this Month!

by The Rullo Team

If buying a new home was on your list of goals for 2019, do not delay! Although winter is generally not considered a prime time to buy a new home, all indicators for the year show that it is the great time to buy. Find your dream home in the Fox River Valley now! Here are the top ways you will benefit buy buying your new home this month!


You will have higher savings!

Home prices in prime buying months (i.e. Spring and Summer) will increase. That means that you can enjoy significant savings on the price of the home by buying now instead of waiting for the weather to warm up!


 

Lock in a lower interest rate!

Just as you will save money on the price of the home, you will also likely enjoy a lower interest rate buy purchasing now. It is unknown exactly how interest rates will change during this new year, though most indicators show there will be an increase before the end of 2019. Lock in a lower rate today to save on your monthly payments!


 

You will have less competition in the market!

Winter is not a popular time to move in Illinois. With cold weather and snow, moving your belongings can be a hassle! That does not mean it should deter you though. In fact, since everyone feels that way, there are less buyers in the market in January. At the same time, there tends to be around the same amount of inventory. This means less competition from buyers which can result in a better deal for you as sellers are more willing to negotiate.



If you are interested in taking advantage of this prime month to Buy your new home, give the Rullo Team a call today or visit our website at http://www.therulloteam.com/.

 

Let Others Know Of Your Change In Address!

by The Rullo Team

Santa might always be able to magically find your home even after you move, but others cannot! If you recently moved to a new home in the Fox River Valley, it is important that you inform others of your change in address! Individuals, organizations, and agencies need to have the correct address on file in order to keep sending you the information and items you need. Here is a handy list of everyone you should inform of your new address when you move.


Family & Friends: Make sure your loved ones show up to the right holiday party by providing them with your new address.

Post Office: Almost all homeowners remember to inform the post office so they can begin forwarding your mail. But, just in case you forgot, click HERE to submit your official change of address with the USPS.

Utilities: Don't pay for utilities in your old home and have services start right when you move in by letting all utilities, including gas, electric, cable, and internet, know about your change of address.

Cell Phone Provider: The tax on your cell phone bill is determined based on your primary residence so you are required to keep your billing address up to date with your carrier.

Employer: The most important people at your place of work that should know about your move are located in your HR department. Give them the new address so they can update the information for payroll and benefits.

Financial Institutions: Mail from financial institutions often contains sensitive, personal information so you don't want it getting into the wrong hands. Update your address with your bank and credit card institutions.

Insurance Providers: Be able to file claims with your auto, dental, health, homeowners, and life insurance providers by keeping your policy up to date with your new address.

Health Providers: Inform your doctor, dentist, and other health care providers on your change in address so you never fall behind on medical bills.

DMV: The state of Illinois requires all residents to inform the IL SOS Driver Services Department of your address change within 10 days. Click HERE  for more information.

IRS: Don't let your tax refund be delayed in the spring. Update your change of address with the IRS now by clicking HERE.

Social Security Administration: If you receive Social Security benefits, you need to let the SSA know of your address change. Click HERE to update it online. If you receive aid from Medicare, Medicaid or other government benefit programs, be sure to inform them as well.

Voter Registration: Be able to vote in all upcoming elections by updating your voter registration information. This will also let you know where your new polling place is.

Newspapers & Magazine Subscriptions: Never miss out on the latest news or current editions of your favorite magazines by updating your address for all subscriptions.

Shopping Websites: Keep those holiday presents coming to the right home by updating your delivery address on all your online shopping accounts.


For more moving and home buying tips, visit our Website and follow us on Facebook!

6 Successful Tips for Fox Valley Home Buyers in a Seller's Market!

by The Rullo Team

Buying a new house is an exciting and important time! There is no better place to call home than the FOX VALLEY! House hunting in a seller's market, though, adds more factors for you to consider during the process. Although the market might not be favoring buyers at the moment, there are many things that you can use to your advantage to help you buy your dream home! Look through the current HOME LISTINGS so we can help you begin this exciting journey, and follow these 6 useful tips for buyers in a seller's market.

WORK WITH AN EXPERIENCED AGENT. Eliminate some of the time and stress that comes with house hunting by working with an experienced real estate agent. Team Rullo Real Estate is here to help you find your dream home! Let us know exactly what you are looking for. We understand the Fox Valley housing market, now what is available, and negotiate the best deal for your new home! Read ABOUT US to learn about our experience and our commitment to you!

BE PREAPPROVED BY A LENDER. Get preapproval for a loan from a reputable lender that you can present to the seller. This shows that you are serious about buying the home and makes the seller feel more comfortable knowing that your finances are in order. If you already know that you can afford the home and have a high credit score, get this part of the process out of the way when you initially start your house hunting process. It can help you stand apart from the other buyers. For help with the kinds of loans that are available for you, check out our FINANCE INFORMATION

BE DECISIVE IN MAKING AN OFFER. Buying a home is a major decision so being thoughtful about the home you make an offer on is imperative. But don’t get bogged down in over analyzing. Before you begin the house hunting process, be sure to know exactly what you are looking for in your dream home…price, location, and type. When you find a home that checks all of the factors you have previously determined, make an offer! You don’t want to miss out on your dream home due to overthinking.

MAKE YOUR BEST OFFER. Start with a strong opening offer. You should know the maximum that you are willing to pay. Although we all want to get the best deal possible, in a seller’s market competition is high. If you come in with too low of an opening offer, you could miss out on your dream home. Be aware of what other houses are on the market and the pricing of the homes in the area. This will help you determine what is an appropriate amount to negotiate for the house you want. Have a strong opening offer that you are comfortable with AND that will be acceptable to the seller.

PREPARE FOR A BIDDING WAR. Bidding wars inevitably cause stress for buyers. The fear of missing out on your dream home is understandable. However, competition in a seller’s market is high. Know what you are willing to pay and search for houses below your max budget. This will help you avoid spending more than you are comfortable with should you end up in a bidding war.

LEARN FROM YOUR MISTAKES. You might not get the first home that you make an offer on. In a seller’s market, it is likely that you will have to make several offers on homes before finding the perfect one for you. Recognize what happened with the transactions that don’t work out and learn from them. Stay true to what you want and realize that there are other options in the Fox Valley that our team will be happy to help you find!

Source: TRULIA

Displaying blog entries 1-10 of 45

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