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Excited to announce that we've been named a Top 20 Agents in DuPage County for Q4 2023 by Chicago Agent magazine! Grateful for the incredible support from our Downers Grove clients, friends, and family. This recognition is a testament to their trust and our commitment to exceptional service. Looking forward to continuing to serve the community and exceed expectations in real estate. Thank you to everyone who has been part of this journey!
Fabulous home located on the perfect quiet street. Meticulous attention to detail with high-end finishes and superb quality. Extraordinary millwork is the crowning jewel of this home. The covered front porch leads to a stunning custom front door and french doors from the first-floor office. Entertaining is easy with a lovely open dining room. Additional bedroom/2nd office on 1st floor with full bath. Chef's kitchen with white custom cabinets, high-end appliances, and an oversized island with new quartz counters. Walk-in pantry and butler's pantry. The kitchen is open to an exquisite family room with a custom stone fireplace and coffered ceiling. Impressive 4-story staircase with exquisite diamond windows. Luxurious master bedroom with unbelievable custom ceiling. Fabulous walk-in closet. Spa bath with soaking tub, walk-in shower, and separate sinks/cabinetry. Generous-sized bedrooms. Jack and Jill bath and 4th bedroom with own bath. 3rd floor is a fabulous flex room, which can be whatever is needed, a playroom, nanny quarters, or office plus a full bath. The basement is an entertaining dream, finished to perfection. Radiant heated floor, custom bar, media area, game area, exercise room, additional bedroom, and bath. The backyard is completely maintenance-free with AstroTurf. Impressive covered paver patio. Shed and playset complete the fun. This home absolutely competes with any new construction! Lots of new upgrades; lighting, countertops, carpeting. Walk to wonderful downtown Downers Grove. Train, shopping, restaurants, library. Close to highways. Walk to schools, parks, playgrounds. Absolute perfection.
The average cost to sell a house in Illinois is 7.00% of a home’s final sale price, which includes realtor commission (5.24% of the sale price) and seller closing costs (1.8%). That means it costs Illinois home sellers an average of $18,591 to sell a home priced at $267,079 (the average home price in the Prairie State). Here’s a complete breakdown of the costs of selling a house in Illinois, including tips on how to save on your sale, and an Illinois home sale calculator to estimate your costs.
This six-bedroom home has six full bathrooms, one half bath, two-story windows and a custom pool and pool room. The kitchen features hardwood floors, an island and granite counters. This home has primary bedroom suites on both the first and second floors as well as a first-floor office with built-in shelving. A second-floor library also has built-in shelving and opens to the foyer below. The finished basement has a bar, media room and a game room with a fireplace. A three-car garage, first- and second-floor laundry rooms and a paver patio that leads to a three-season screened porch complete this home. Agents: Patti and Chase Michels, Compass, 630-862-1791
The most important details people consider when buying a home are the location, price per square foot, and number of bedrooms. But what happens when your dream home is located in a flood zone? The risk of flooding is only increasing with climate change, and people who choose to buy homes with a history of flooding can pay up to tens of thousands of dollars more over the course of their life in the home compared with the average homeowner. To avoid such surprises in your new home, here’s how to assess, prevent, and prepare for flood risk.
You don’t have to be a U.S. citizen to buy a home in the U.S. You don’t even have to be a U.S. resident. Anybody who wants to can purchase property here. Between April 2021 and March 2022, the value of residential property in the United States that was sold to foreign buyers totaled $59 billion, according to the National Association of Realtors (NAR)’s International Transactions in U.S. Residential Real Estate report. The vast majority of non-resident buyers are from Canada and Mexico, followed by China. They’re largely purchasing detached single-family homes in Florida and California. While almost half (44 percent) of foreign buyers rely entirely on cash to make these purchases, it’s also possible for non-residents to obtain a mortgage in the United States to help finance the new homes. It’s not all smooth sailing, though. Non-citizen homebuyers will have to deal with slightly more complicated mortgage application requirements establishing their financial qualifications. They will also have more complex tax laws to comply with as homeowners.
Probably the most painful part of buying a home today is the price you pay—which has shot up over the past year by 16.6%, to a national median of $449,000. But there’s also good news for homebuyers still hanging in there: Houses that were once snapped up in record time are starting to linger longer on the market. The number of homes with price cuts increased to 19.1% in July of this year, compared with 9.4% at the same time last year. In other words, the red-hot seller’s market of the past two years is at long last cooling off, and some sellers fearing they’ve missed the peak of the market are desperate to unload their home before things get worse. This means some brave homebuyers might find themselves in a unique position where they could (gasp) offer below the list price—otherwise known as lowballing.
You don’t have to be a U.S. citizen to buy a home in the U.S. You don’t even have to be a U.S. resident. Anybody who wants to can purchase property here. Between April 2021 and March 2022, the value of residential property in the United States that was sold to foreign buyers totaled $59 billion, according to the National Association of Realtors (NAR)’s International Transactions in U.S. Residential Real Estate report. The vast majority of non-resident buyers are from Canada and Mexico, followed by China. They’re largely purchasing detached single-family homes in Florida and California. While almost half (44 percent) of foreign buyers rely entirely on cash to make these purchases, it’s also possible for non-residents to obtain a mortgage in the United States to help finance the new homes. It’s not all smooth sailing, though. Non-citizen homebuyers will have to deal with slightly more complicated mortgage application requirements establishing their financial qualifications. They will also have more complex tax laws to comply with as homeowners.
The average cost to sell a house in Illinois is 7.00% of a home’s final sale price, which includes realtor commission (5.24% of the sale price) and seller closing costs (1.8%). That means it costs Illinois home sellers an average of $18,555 to sell a home priced at $266,415 (the average home price in the Prairie State). However, Illinois realtor commission and seller closing cost figures vary widely by market. For a more accurate estimate, we highly recommend you find a realtor to calculate your potential home sale costs. Here’s a complete breakdown of the costs of selling a house in Illinois, including tips on how to save on your sale, and an Illinois home sale calculator to estimate your costs.
Is a recession a good time to purchase a property? Why, or why not? We turned to the experts to break it down. Chase Michels, The Michels Group - COMPASS Recessions typically bring lower interest rates and create a buyer's market for single-family homes. As long as you're secure with your finances a downturn can be a great opportunity to buy a home. Pros of Buying a Home During a Recession Lower Prices During a recession, there are usually fewer buyers, so houses stay on the market longer. This makes sellers more likely to lower their listing prices to get them sold. Lower Mortgage Rates* The Federal Reserve generally lowers the interest rate during a recession, to stimulate the economy. This results in banks lowering their rates, too, including the mortgage rate. With a lower mortgage rate, you will end up paying less for your home over the years. Given the historically low rates we are coming out of this does not currently hold true though. Seller Concessions As their houses sit on the market longer, sellers start getting nervous. You can ask for concessions that you weren't able to six months ago when there were 5 buyers for every home coming on the market. Cons of Buying a House During a Recession Job Uncertainty With unemployment rates shooting up during a typical recession, many jobs are in danger of cutbacks or elimination. Given the current job market, this shouldn't be a major concern right now. A lot of companies are hiring and unemployment is still historically low. Banks Are Less Likely to Lend You Money Banks understand how economic uncertainty can affect anyone’s job. So, they are less likely to approve mortgages and making it harder to get loans approved. You will have to jump through more hurdles but if you have strong credit and income this shouldn't play a major factor either.
17 best ways to add value – the most effective ways to elevate your home in 2022. From painting to landscaping – these realtor-approved tips will ensure your home stands out for all the right reasons. 1. BOOST CURB APPEAL The best place to begin when creating a powerful first impression is on the outside. Whether you're experimenting with new front door color ideas or you hire a professional landscaper to accentuate your front yard, you only have one chance to set the tone your home deserves. 'Hiring a landscaper is time and money well spent,' says Chase Michels of The Michels Group(opens in new tab) by Compass. 'A review of research by Alex X. Niemiera, a horticulturist at Virginia Tech, found that a well-landscaped home had a 5.5-12.7% price advantage over a home with no landscaping. That translates into an extra $16,500 to $38,100 in value on a $300,000 home,' Chase says. 'Niemera states that the number-one thing that buyers are looking for in landscaping is a sophisticated design. Close behind are plant size and maturity.' 2. ADDING STONE VENEER According to Chase, adding stone veneer is one of the most impactful ways to generate a profit from a renovation. 'Adding manufactured stone veneer is the number one project for recouping your investment. The 2020 national average stone veneer job costs $9,357 and the average resale value added was $8,943 for a cost recoup of 95.6%.' So, if you're looking for traditional garden ideas with economical benefits, this renovation is the solution.
This five-bedroom home has six full bathrooms, one half-bath, wood floors and a covered front porch. The centrally located kitchen features marble and quartz countertops, two islands, a butlers pantry with a sink and a Viking gas range. Three sets of French doors allow family room access to a private covered deck. The second-floor primary bedroom has a fireplace and French doors that lead to a private balcony. A finished walkout basement has a brick fireplace and built-in shelving. The first-floor office with custom cabinetry, a second-floor laundry room and a two-car garage with epoxy flooring complete this home.
By now, everyone has heard hushed stories from starry-eyed sellers of just how quickly their modest homes recently sold—for way over asking price. Maybe this unprecedented seller’s market has you hoping you can cash in on your home, too. We don’t blame you. But lest you presume listing today is a breeze, it’s time to brace yourself—or better yet, buckle up—for a whole new ride. In the past, selling a home was a relatively mellow affair that required low-to-midlevel effort on your part and at least a few weeks or months to bear fruit. Now, though, your home might be deluged with offers the very day it hits the multiple listing service, or MLS, and although homes are selling fast, this does not mean you can just kick back and watch the offers roll in. If you’re looking to fetch the highest price possible and the best terms, it’s time to understand what you’re in for, and how it’s light years different from the way things used to be. Behold the new rules of selling a home today.
The average cost to paint the exterior of a house will mostly depend on the square footage. Experts weigh in on whether it's worth doing, DIY or by hiring a pro.
Updating your home doesn’t have to put strain on your wallet. As long as you’re clever with your money, you can easily make it go as far as you need. What do I mean by “clever”? For starters, getting advice from experts is always a good idea — especially if you aren’t sure where to start. That’s why Bustle reached out to a handful of designers and realtors who were more than happy to share their best tips and tricks when it comes to finding the best cheap home upgrades. Updating your home doesn’t have to put strain on your wallet. As long as you’re clever with your money, you can easily make it go as far as you need. What do I mean by “clever”? For starters, getting advice from experts is always a good idea — especially if you aren’t sure where to start. That’s why Bustle reached out to a handful of designers and realtors who were more than happy to share their best tips and tricks when it comes to finding the best cheap home upgrades.
The invite-only event honored the Chicago-based agents and their teams for their outstanding accomplishments in 2020.
For aspiring real estate investors and house-flippers, purchasing a fixer-upper can be tempting.
If they haven't lined up a new home or an Airbnb, sellers are writing rent-backs into contracts.
Even in a seller’s market, there are simple things that could prevent buyers from giving your home a second glance.
During these challenging times for real estate agents and brokers, it can be critical to get back to the basics of the business. Although property is at the epicenter of the financial transaction, it's people who ultimately control decisions to buy, sell, invest and rent. Here are 17 time-tested tips from real estate brokers and agents throughout the U.S. who always put people first.
Once you’ve made the decision to buy a new home, it might seem silly to wait for anything else before starting the process.
We know how important client relationships are to ensuring a smooth transaction. We have a strong sense of local market knowledge, which provides tremendous value.
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