Home Buying Tips for Surviving In the Zombie Apocalypse

The-Gravediggers-House-trees
SPOILER ALERT!  If you’re a fan of The Walking Dead and haven’t caught up through Season 8, stop right here.  Because I’m going to be talking about it and if you aren’t up to speed, you might get a plot line reveal that you just won’t like.

And full disclosure:  For the sake of this blog post, we’ll assume the (ZA) Zombie Apocalypse goes down very similarly to The Walking Dead comic book storyline. i.e. zombies everywhere, humans are struggling for survival, lots of running for your lives and such.  The survivors often turn into some bad leaders,  followed by power grabs, and the consolidation of choice living spaces.  It won’t be easy, as Carl noted, to try to rebuild civilization to get humanity back as it once was.  RIP Carl.

Home Buying Tips in the Age of the Zombie Apocalypse

Podcast Foreclosure Frustration

No Mortgage Needed!
If you’ve survived this long in the ZA, the good news is that you won’t have to worry about qualifying for a mortgage!  The bad news is your closest neighbors may just be trying a little too hard to have you over for dinner.  Hmmmmm…..

But really, first things first.  When you’re home shopping in the ZA, the first thing I’d like to see are some big, tall walls.  Yep, you heard me.  I’m not looking for see-through, wimpy chain link fences, no messy barb wire.  I want something strong enough to withstand a zombie herd attack without having to do a daily clearing of spikes.  Daily clearing of stuck zombies, like those Morgan clears each day, doesn’t work out so well for folks.  Also, a lookout point, or something that you can add in a crow’s nest for a high vantage point, is ideal to keep watch for dangers, both living and non-living.

concrete corner wall

Don’t fall for the obvious places like a massive prison with flimsy, chain link fences and barb wire.  Although it was a smart idea to go off the path to rebuild society in a prison, it was more like a zoo than a safe house.  The zombies enjoy lurching their way across the chain link fences, and eventually succeed in pushing it over with sheer weight.  Besides, the zombies were doing a fine job before the tank showed up. Southern prisons are all too flimsy.

chainlink zombie crushing it

The Walking Dead on AMC

Multiple exits required
Most high rise buildings require basic safety devices like sprinkler systems, stairwells, and fire escapes because exits are in short supply and can be easily overwhelmed or blocked.  Take some rabbit advice.  In nature, burrowing animals dig their homes also with escape routes.  While the rabbits and voles may never have an agreed upon emergency meeting place, they rarely get caught without an exit.

Be like the bunnies.  I recommend a multiple exit strategy from the big, tall walls. Multiple exits means more humans can get out if some nasty trolls like the Governor or the Termites show up to try to take over.   It shouldn’t take 8 seasons to finally figure out the emergency exit plan and a safe place to regroup.  Good sense is having a solid escape plan in place, plus a back up plan when stuff goes bad.  And it always goes bad, this is the zombie apocalypse after all, so at least have a place in mind to re-group in an emergency.

zombie-map-3 estately

Illinois doesn’t make it

Sturdy Construction, Move In Ready
Be flexible on the age and style, but sturdy built buildings are a must.  Preferably built up two stories, with an interconnecting fire escape system of ladders, to allow escape to the adjoining roofs, all the way to the emergency escape system, in case the security walls fall under a crush of undead.

Barns, houses, sheds, and garages can all be used as permanent shelter, so be flexible in your choices.  It could be a farming community, or a large homestead with sheds, outbuildings, or even a new gated type of community with a full solar power grid and automated water system.  That’s a bonus, but if you think you’ve hit the jackpot, that just means someone else will want it more than you.

3 Little Pigs home choices- Straw, Wood or Brick

3 Little Pigs Home Choices-Straw, Wood or Brick?

The point is you’re not going to have time to spend on building new houses behind your walls.  You’ll need something move in ready.  The less time you spend building structures is more time you can devote to building up your resources, growing crops, or rounding up livestock for your farm breeding program.  Plan ahead for using the space between structures for gardening and responsible organic farming.  Further down the road, you’re going to need space inside to grow some basic starter crops, raise your chickens, shelter your livestock, and store your extra food.  The sooner you can stockpile the extra food, the better.

Which brings me to the next point:

Relocation- The Climate Change Option
Living in the northern states brings changing seasons.  However, in the ZA, we suggest considering moving SOUTH to have better chance at growing food year round.  Yes, the southern zombies will be in better condition, having not been frozen in the first winter, but a southern climate means you can grow more of your own food faster.  And food will be key in surviving long term, as the stores will be rummaged and picked over pretty fast in the first year.  In the long term, a regular migration route for humans could help rotate the farmers to the south and the builders to the north.

Then again, northern zombies, according to Greg Nictero, TWD Executive Producer, would freeze and thaw just fine.  Check out his insights here:
Frozen Zombie Spin Off Series

No Fair Housing Laws
If you find a place that has decent walls, solid structures, in a good climate, don’t get too comfortable yet.  Home buyers should always check out a home site and the surrounding terrain of any area that you like.  Make a wide reconnoiter survey of the area before making a final decision.  Good neighbors will be valuable in these times, but it’s not easy finding the right neighbors.   As your survival depends on a safe and secure environment in the Zombie Apocalypse, you can and should be highly selective on who your nearest neighbors are.

Neighborhood- City, Rural, or Suburban
Even before the ZA, finding the perfect neighborhood has it’s challenges.  Some folks thrive on a busy street full of undead.  Others like to sip their lemonade and rock on the front porch of their farmstead, and while away the days with a barn full of locals turned zombie.  It depends on how you like to survive.  You might choose to be holed up in underground city sewers to avoid the walkers up top, or way out in the countryside,  but with far fewer amenities like concrete, gasoline, and other humans for competition.

Are you likely to remain in the city?  Living in the concrete jungle with limited open spaces can work in your favor if you can round up and trap the city zombies in one confined area.

city zombie

Or you could be more in line to a suburban habitat.  The risk here is it could be marked as a “easy pickings” area.  Hiding in plain site from both zombies and human scavengers may prove tricky.

Finally, with Rural Zombies, living out in the country, with wide open spaces, it may have fewer humans but more free roaming zombies.

Rural Zombie “Whateverest”

Status Check
Now that you’ve narrowed your search to city/rural/suburban, you’ll need to verify the neighborhood.  Is it noisy on the weekends, are the roads clear for exit routes, how sturdy are the walls, are there folks sitting out the front porch or do they seem to be holed up indoors?

Our good friend Rick Grimes had one of the best ways to figure out if a place is going to have friendly neighbors.  Roll up to the wall line and listen for a moment.  What do you hear?

If you hear the sound of children laughing and playing, that may bode well for humans.  If you hear nothing at all, it could be a bunch of scavengers.  If you hear howling, it could be the Wolves.  If they shoot first and ask no questions, it could be Saviors.  And finally, if you smell sizzling hot BBQ, don’t accept the invitation.  Just keep driving.

The downside to home ownership in the ZA is that it all up to you to find something that either has walls or can be walled in safely.  No one will take you in for a private showing and let you know about the hole in the roof or zombies in the basement.  No one will point out the defects or the pluses from an objective 3rd party perspective.

Home buying in the ZA, just like learning to clear zombies from a site the hard way, will take a lot of patience, along with a katana or cross bow, to silence the squatters who might be roaming the property before you can really decide, is this place for me?  Make sure you do your due diligence!

zombie_forclosure_2014_01

The housing market will never be the same in the ZA.  First come, first to defend, will mark the best places out.  Still, finding a new home doesn’t have to be a pain.  Your needs can change in a heartbeat.  Downsizing is easily available and transfer of ownership won’t take long at all.  With no mortgages, no cumbersome paperwork, no regulations, or fair housing requirements, handling your own due diligence legwork is important.  Bring your survival backpacks and giant cans of pudding, it will feel like home in no time.

(Much appreciation to the hard working, dedicated TWD cast, crew, and fans.)

 

Want more?  I do more than sell zombie ready homes!  Check out my Podcast with more tips on Selling By Owner, Curb Appeal, Foreclosures, Do’s and Don’t of Buying a Home and much more!

Fox Valley Property – Podcast – Realtor tips, advice on buying and selling

Contact:
Jennifer Kinzle, SFR, e-PRO Broker
Fox Valley Homes
Cell/Text: 630-854-4360
Jkinzle73@gmail.com
www.FoxValley-Property.com

Charles Rutenberg Realty of Naperville, IL
3135 Book Rd
Naperville, IL 60563

 

Advertisements

Selling Invisible Homes

woman-poses-e-learning-female-159750.jpeg

It all started with a phone call.  The caller was very frustrated.

“Our home is in great condition, the location is excellent, I’ve got inside and outside photos in all four seasons, too!  We are priced right!  It’s been on the market for 4 months and I’ve had no offers!   Why haven’t I gotten an offer?” she said.

Let me take a moment to clarify.  This person was a For Sale By Owner and I know what you’re going to say:

“Save the commission, don’t list with an agent!”

Fair enough, but since I had already talked with this person about selling by owner, she didn’t hesitate to reach out when she got stuck.  Actually, I’m sure she called several agents to vent about the housing market, but I was the only one who told her what she needed to hear.

for sale by owner

First, let’s go over what she did right:

She got the best information (and most accurate data) she could on the market activity in her neighborhood, she got real estate agents to come preview the house, and she didn’t hesitate to use the knowledge they shared to de-clutter, stage and showcase the home to highlight its best features.

Unlike a lot of by owner sellers, she wasn’t afraid to entertain the idea of a buyer’s agent commission, which would open her up to a wider pool of home buyers.  This is all A+ work in the By Owner Classroom.

If it’s not price, it’s not condition, it’s not location, what else can it possibly be?

I had to give her the good news and the bad.

“I don’t think you’ve done anything wrong from what you’ve told me,” I said.  “You’ve done just about everything right.  The problem is,  you’re invisible.”

invisible house

How could a house possibly be invisible?
Top 4 Reasons Why Your House Could be Invisible:

1- You’re selling By Owner, but you didn’t get the home to show up widely on the internet
2-You’re overpriced for the market place
3-Your photos or video don’t work in your favor
4-You’re on the Private MLS and don’t want to be found (yet), like a pocket listing

In our scenario, the seller covered many of the essentials right out of the gate.  She didn’t mess around with dark photos, cluttered rooms, or a ridiculous price, and she knew to get the latest market info from local agents.  She even got the FSBO package that included yard signage.

pexels-photo-164522.jpeg

She just missed the mark on getting enough exposure via the internet from the biggest database for homes.  And it’s not Zillow, or Trulia, or Homes.com or even Realtor.com that have the biggest home database.  These are simply feeder sites across the internet.  They don’t hold the full database of homes on the market, not even close.  Every single one of these sites gets its data from one place, the local MLS database, where all the agents in the area put in their listings.  If you’re just listed on the tiny For Sale By Owner site, you’re missing out big exposure for the rest of the internet and your home is invisible.

You’re invisible because today’s buyers are internet savvy and look at buying homes online.  They can see photos and video on a big portal site like Zillow and share it with friends and family.  But when they are house hunting, they aren’t going to search past page 1 of Google to find a good website to look up houses.  They want something that is easy to use, like the  3 or 4 mentioned above.

NextGenListingFeeds1

Unless you’re feeding it directly into MLS database resource, it’s not going to trickle down to the 3rd party feeder sites.

Think about it, if the FSBO.com and By Owner sites were so powerful, why bother listing it on the local MLS at all?  They wouldn’t need to put it any where else.  Why do they offer different price packages to home sellers?  The top notch packages offer the exposure to the MLS, some with a flat fee brokerage too.  It’s an upsell to get your home on the MLS, because they know that’s how to get the exposure that agents use.  If the FSBO sites think it’s a good idea to use the MLS, maybe you should reconsider it too.

The FSBO and By Owner sites won’t admit that selling a home is kicked off  via the internet. Photos and videos are a must, but if they don’t get fed to the big portals and get pushed out with the rest of the homes in your area via the internet, the listing gets lost.  And your home remains invisible to the internet, which in this case, makes a By Owner seller frustrated.

Have you been upsold by a FSBO site?  Did you get your home sold without help from the internet?  Let me know your stories below!

 

Hi, I’m Jennifer and I sell invisible homes.  I also sell normal houses and help buyers find great homes too!  Contact me below or reach out via Facebook.
Jennifer Kinzle, e-PRO, SFR Broker
Fox Valley Homes
Charles Rutenberg Realty of Naperville, IL
630-854-4360
FoxValleyHomes1@gmail.com
www.FoxValley-Property.com
Facebook: FoxValleyHomes-Jennifer Kinzle, broker SellMyFoxValleyHome

Charles Rutenberg Realty of Naperville, 3135 Book Rd, Naperville, IL 60563

 

ratedagent5star

 

Ready for even more tips how to sell your home like a pro, including how to leverage auctions?  Don’t forget to check out my Podcast with more tips on Selling By Owner!

Fox Valley Property – Podcast – 5 Tips to Sell By Owner

 

Maximize Selling By Owner Now

Ready to sell your home By Owner? This is the blog post for you.  I’ll cover three tips in this post, plus even more in my podcast here:  Fox Valley Property – Podcast – 5 Tips to Sell By Owner
FSBO sign
Maximum Knowledge For Maximum Results!

Home owners can definitely sell their own home, it is just a matter of time, effort, sanity, marketing, and sheer will power.  Leveraging what is already in place is best, but owners that love to DIY, here’s what you need:  a home, lots of time, and more knowledge.  Pretty simple, right?  The biggest reason why By Owners fail to sell, is lack of knowledge, followed by time commitment.

#1-Your time is valuable.

Home selling is a time suck, and let’s face it, most home owners also work regular jobs.  But working a 9-5 day job, M-F shifts, or late nights, or are traveling for work, reduces the available time to show the home.  And not having the home immediately available  means the buyers may move on to the next one they can get inside to see.  This can cost you a valuable buyer.  It does eat in to your personal time, but scheduling home showings is absolutely vital to finding a buyer quickly.

If you are unable to show frequently, be sure to add extra market time to your expected sale date because if it takes you a week to do one showing, that can really slow down offers.  You need showings to generate offers.

Realtor Tip: My rule of thumb is 7.  After 7 days of showings with no offers, something is off and you should check your property price, condition and neighborhood market.

pexels-photo-186077.jpeg

Another way to look at your time being valuable is this:  If you’re at work being paid $50/hr, then you know exactly what your work is worth for 1 hour. Of course, the hours you put in to sell your home are Unpaid.  Your time is still worth a lot, but now you are dipping into your personal time, nights, weekends to market, show, clean and/or negotiate your home sale.

I add it up like paid sick time.  Lots of folks earn sick days, maybe 5 days a year. Who really wants to meet an unqualified buyer at the cost of a sick day? Or worse, dig down even deeper and give up a vacation day?  That is about as much fun as taking a vacation day for a root canal.

# 2 Know your property is only as valuable as the appraisal.

NOTE:  Market values are consumer-driven and appraised values are driven by experts.

Your property is valuable, but the buyers determine it’s market value.  And that does not always match the appraised value.   Market value is what the buyer in today’s market will offer for your property, so it is consumer driven.  The Appraised value is driven by experts, as those hired by a mortgage lender to appraisal a property before approving a mortgage on it.  It is unlikely a bank will approve a mortgage above the appraisal price.

Realtor Tip:  Get a current report on the home sales in your area.

So let’s say you picked the perfect number. What if it still doesn’t get an offer? Notice I said “offer”.  Receiving an offer does not mean it is sold. Offers are a good thing, because they mean you’re on the right track to get a deal done.  No offers, means no deals.

Think about it: if you get a lot of showings, that’s great. Having folks come through to see your home is a necessary requirement to getting it sold.  Let’s say you get 3 people the first week, 3 the second week.  But then in the third week, you get 1 person, and in the fourth week 4, you get zero.

What the heck happened?  Excellent question.  It could be you forgot to run your ad, you didn’t do an open house, or your price is not enticing enough.  The shine has rubbed off your FSBO sign as most of the investors in the area have likely already called you.

Realtor Tip:  if you’re in a seller’s market, and you have showings but no offers, means you’re priced too high.  If you’re getting showings and some offers, you’re in the sweet spot.  If you get full price offers before the sign is in the ground, you’re priced too low.

By the way, you can test this with a private listing.  Ask me how.

fsbo graphic 15 tips

#3 Knowledge is power

Pre-screening is vital for buyers to avoid wasting your time.  Knowing your bottom line with a Seller Net Sheet will help you negotiate a deal better. But unless you pre-screen the buyers, you could waste a lot of time with looky loos.  Never take an offer from a person who is not pre-approved by a mortgage lender or has no proof of cash.  A serious buyer won’t hesitate to show you money.

Now that you’ve come this far, it’s time to level up your strengths and get into the nitty gritty of negotiation.  If you’ve done your research and are confident in your value, it is time to use your leverage wisely.

My favorite tip: the agents who call you to say they have a ready buyer, can they come look at your house?  And you should say “Absolutely, yes!”, and set up a weekend visit for all agents to bring their buyers through.  Make it a one shot deal and have all the agents visit at the same time.

Why?  They’ll either bounce fast or try to convert you to a listing.  Tell them you will offer them a full commission of 2.5% if any of them bring you a buyer.

 

Home owners armed with the proper information can most certainly sell their homes by owner.  It is up to the individual to decide if the time and effort is worth it, much like any home project.

Ready for even more tips how to sell your home like a pro, including how to leverage auctions?  Don’t forget to check out my Podcast with more tips on Selling By Owner!

Fox Valley Property – Podcast – 5 Tips to Sell By Owner

 

Contact Jennifer:
Jennifer Kinzle, SFR Broker Fox Valley Homes
630-854-4360
Jkinzle73@gmail.com
www.FoxValley-Property.com

Charles Rutenberg Realty
3135 Book Rd
Naperville, IL 60563

 

 

Home Not Selling? The secret trick when your property is stuck

topsecret

What happens when your great property sits on the market for a long time?  Has your home gone old and stale?  Have your property previews dwindled?  Are you considering a fourth price drop and another open house? You’re starting to feel as though everyone on your block is selling faster than you but yours is a nicer home in outstanding condition.  Where’s the perfect buyer?

If you’ve checked the market conditions and your property price is still highly competitive, it could merely be a slow market.  Perhaps there are too many shiny penny homes on the market and your home isn’t ranking up there with “Dream Home” status.  

Maybe it’s time for a reboot on your options.  If you have time on your side, sellers like you can use it to your advantage.  A super flexible closing date may entice a renter to put roots down and give the price the sellers want.  

rent to own circleimages

Consider using a “lease to own” or Rent To Own option.

 

More attractive to more buyers: Rent to own deals entice more buyers in who have less than perfect credit or difficult securing a traditional mortgage.  By offering a flexible option to rent now, buy later, the renters may be able to improve their credit sufficiently to make the purchase down the road.

More rental income: Another plus for a seller is the additional income a rent to own option offers.  Instead of just a monthly rental check a rent to own option allows for a higher payment.  the extra funds are put towards the eventual purchase price on the home.  You can earn rental money on top of the option purchase money.  

Bumping up the purchase price:  Many renters desire greater flexibility over a cheaper deal.  Bumping up the purchase price as part of the rent to own means waiting longer for the transaction, but getting a better offer when at the closing table.  Asking for a higher price to offset the wait time to sell is very common.  Even if they never use the option to buy, many renters will prefer to pay the higher amount for the greater flexibility.  

Invested renter: A rent to own buyer is very likely a better renter because they see themselves more as a caretaker or a future owner of the property, and as such, are more likely to take better care of the property.     

Not all home sellers will want to consider this as their option for Plan B.  But if you’ve already invested months of time and your patience has not paid off, a Rent To Own option could work out to your greatest advantage.  Becoming a temporary landlord for a 12 months lease could find you a perfect renter, who can turn into the ideal buyer.  

Get it Sold!

soldsign

Did you know?

Fox Valley Homes is full of great marketing tips and ideas.  In addition to helping owners with distressed homes and foreclosures,  Fox Valley Homes offers full broker service for regular listings,  rentals, buyers and home sellers, as well as investors in residential properties across the northern Illinois and Chicago region. We coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information, about Fox Valley Homes, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct  jkinzle73@gmail.com.

2016-09-25

Contact me:

sitting-hs2

Jennifer Kinzle, e-PRO, SFR Broker
Direct/Text:  (630) 854-4360
Email: jkinzle73@gmail.com
Twitter: @jkinzle
Instagram: @jkinzle

Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Website:  www.FoxValleyShortSales.com
MeetUp: Fox Valley Investors MeetUp Group

CRR_Letterhead_Logo_small
Charles Rutenberg Realty of Illinois
3135 Book Rd
Naperville, IL 60563
LIC 481.010.165

Buyers in Kane County – don’t buy a home without reading this first!

white-picket-fence-006
The spring market is underway in the Fox Valley!  It’s time to do a little spring cleaning and shake off the cold hand of winter to find your new home.  We’ve got a lot of new programs to help folks find the perfect loan program, including ultra low down payments, special terms for Kane County renters, great Illinois home incentive programs and more.  Check out this list and be sure to call for more details!

Kane County Buyer’s Program:
KANE COUNTY – Fox Valley First Time Home Buyer Programs

If you’re looking to buy right where you live, in Kane county, you’re in luck!  They offer a wonderful down payment assistance program for first time home buyers.  With a down payment of 1% of the purchase price, you can become a home owner instead of paying your landlord!  Ask about the other county specific programs available too.

New Home Buyers Postcard2

But that’s not all!  There are many more programs available for home buyers to look into:

@HomeIllinois
@Home Illinois – an IHDA program

This program offering up to $5,000 in down payment and closing cost assistance for FHA, VA, USDA and Conventional loans.  Qualifying borrows include first time buyers, veterans, repeat buyers and those who want to refinance.  Borrowers must meet income and purchase limits, credit requirements and contribute $1,000 or 1 % of the purchase price, whichever is greater.

1stHome Illinois
1st Home Illinois – an IHDA program

This is a program similar to IHDA’s (see above) but is only available to first time buyers and veterans purchasing a home in Boone, Cook, DeKalb, Fulton, Kane, Marion, McHenry, St. Clair, Will and Winnebago counties.  Qualifying buyers get $7,500 cash assistance for down payment and closing costs for a low-cost 30 yr fixed rate mortgage.  They must contribute $1,000 or 1% of the purchase price whichever is greater.  

steps-for-buying-ahome

FHA Loans
HUD for FHA Loans

This is a very popular type of loan for first time home buyers.  This is a federally backed mortgage by the Federal Housing Administration (FHA) and offers a 3.5% down payment, low closing costs and the less-than-perfect-credit score is accepted.  Limits on the purchase price in the Chicago land area are up to $365,700  Check the link below for details.

FHA Home Loans by First Click Mortgage

 

HomeReady Mortgage by Fannie Mae
HomeReady Mortgage by Fannie Mae

HomeReady offers a 3% down payment option for eligible low-to-moderate income first time and repeat buyers.  Additional income sources will be considered an all co-borrowers don’t have to live in the property.  Home buyers must complete a home ownership education course.  

Home Possible Advantage by Freddie Mac
Home Possible Advantage by Freddie Mac

Home Possible Advantage is Freddie Mac’s version of the 3% down payment mortgage loan.  The program is also open to qualifying low-to-moderate income first time or repeat buyers or those purchasing in high-cost or under served areas.  First time buyers must complete home ownership counseling.  

USDA Single Family Housing Guaranteed Loan Program
USDA Single Family Housing

Buy a home in certain rural areas and you might not need any down payment at all.  This U.S. Department of Agriculture (USDA) program assists low and moderate income consumers buy homes in eligible rural areas, including many counties in Illinois.  A low interest, fixed rate loan can be used to build, rehab, improve or relocate a dwelling in an eligible area.  

VA Home Loan Program
VA Home Loan Program

VA loans are another great tool for veterans and their families looking to buy a home without a down payment.  The loans are only for qualifying veterans, active milityar members and eligible surviving spouses.  Guaranteed by the U.S. Dept of Veterans Affairs, the loans to do not require mortgage insurance.

confused
Questions on the loan programs?

Contact a Senior Loan Originator with People’s Home Equity
Steve Smither
S
enior Mortgage Adviser
NMLS #224681
1801 S Meyers Rd. #500
Oakbrook Terrace, IL. 60181
Cell: 847-942-5151
Fax: 847-701-3267

ssmither@peopleshomeequity.com

 

 

Did you know?

Fox Valley Homes is full of great home tips, ideas and programs for all levels of buyer and sellers.  In addition to helping owners with distressed homes and foreclosures,  Fox Valley Homes offers full broker service for regular listings,  rentals, buyers and home sellers, as well as investors in residential properties across the northern Illinois and Chicago region. We coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information about programs to list or buy with Fox Valley Homes, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct  jkinzle73@gmail.com.

2016-09-25

Contact me:

sitting-hs2

Jennifer Kinzle, e-PRO, SFR Broker
Direct/Text:  (630) 854-4360
Email: jkinzle73@gmail.com
Twitter: @jkinzle
Instagram: @jkinzle

Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Website:  www.FoxValleyShortSales.com
MeetUp: Fox Valley Investors MeetUp Group

CRR_Letterhead_Logo_small
Charles Rutenberg Realty of Illinois
3135 Book Rd
Naperville, IL 60563
LIC 481.010.165

New Home Buyers: Risks and Benefits of Rent To Own

rentalleaseagreement
Planning ahead on your home ownership dream?

If you are ready to kick your home search into full gear,  consider an option like a rent to own.  Less than perfect credit scores and loads of flexibility are two pluses when buying a home as a lease to own.  

A rent to own option works like this: a buyer is given the “option” to purchase the home at some point in the future at a specified price.  A traditional sale brings the buyer and seller together to complete the purchase quickly, after agreeing to terms.

Instead, with a rent to own transaction, the final purchase is delayed.  The buyer and the seller agree to the possibility of the sale at a future date and it may or may not occur.  The buyer or seller can back out of the agreement, by simply not accepting the sale when the agreement is ended.  In the meantime, the renter decides if they want to make the purchase, often paying additional funds to the seller, to decrease the amount of money needed toward purchase price.

piggy bank and house

Benefits for Buyers:

Renters can buy even with bad credit: Often dinged on credit scores, renters may not qualify for a traditional conventional home mortgage.  But they may be able to repair their credit with a solid report of their regular monthly payments over the long term.

Lock in a purchase price: Renters can agree with the sellers as much as 12 months 9 or more) ahead on the purchase price.  They can put extra dollars toward the purchase of the home, setting up a discount for when they finally do close.  

Take it for a Test Drive: Try it before you buy it!  Renters may fall in love with the home even more while under the option.  Or they may decide the property isn’t the home of their dreams and decide to skip it at the end of the agreement.

 

Risks for Buyers:

Forfeiting money: If for some reason, you don’t buy the home, you lose all of the extra money you paid.  

Slow progress: If you plan on getting that raise or improving your credit score, and it doesn’t quite work out, you may be unable to commit to the sale when the agreement ends.  

Less control:  This is a tricky part because while you inhabit the property, you don’t have control over it (yet).  For example, your landlord could skip making mortgage payments, not pay the taxes or wind up with a contractor’s lein.  These are outside of your control.  Be sure to have it in your agreement to address these scenarios, including the landlord cannot sell to another buyer while under the option to you.  

Falling prices:  This is not a consideration for the current home market, but it was a few years ago.  If home prices fall during your contract, you may be unable to renegotiate the purchase price.  Then you are left with the option of forfeiting all your option money or buying the house at a higher than market value price.  If your lender won’t approve an oversized loan, you’ll need to bring extra money out of your own savings to the closing table to cover the difference.

Late payments hurt: Just like a traditional mortgage, missing monthly payments can penalize you.  Your lease to own agreement may include a qualifier clause that you must make all payments on time, you may lose the right to purchase (and lose your extra payments).  In some cases, you keep your option, but your extra payment for the month is not “counted” towards the eventual purchase.

Home Issues: There might be problems with the property that you don’t now about until you try to buy it (as noted with tax liens, deferred maintenance and title problems).  It’s best to treat a rent to own property like a “real” purchase and get the reassurance of a full home inspection and title search.

Scams: Protect yourself and the sellers by hiring a reputable attorney to review the sales contract and go over all the requirements to successfully purchase he home.  A home purchase is a major investment, so be sure to do your due diligence.  If it sounds too good to be true, it probably is.   

stcharlesjustsold3

Contracts:

If you’re interested in finding out more about rent-to-own a home contracts, check out  a sample agreement for your state that protects both the home owner and the tenant.

https://www.rocketlawyer.com/document/rent-to-own-agreement.rl#/

There are many sample rent-to-own agreements and templates online that you can customize and use.  Before using a template however, you should review laws in your state and common items included in a contract to ensure you covering all bases prior to signing a contract. 

I always suggest that you consult with an attorney prior to signing any lease-to-own contract or drafting a contract for your home.  It’s a big investment, and you’ll want the peace of mind that comes with a well prepared contract to help protect yourself.

 

Did you know?

In addition to helping owners with distressed homes and foreclosures,  Fox Valley Homes offers full broker service for regular listings,  rentals, buyers and home sellers, as well as investors in residential properties across the northern Illinois and Chicago region. We coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information, about Fox Valley Homes, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct  jkinzle73@gmail.com.

 

2016-09-25

Contact me:

sitting-hs2

Jennifer Kinzle, e-PRO, SFR Broker
Direct/Text:  (630) 854-4360
Email: jkinzle73@gmail.com
Twitter: @jkinzle
Instagram: @jkinzle

Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Website:  www.FoxValleyShortSales.com
MeetUp: Fox Valley Investors MeetUp Group

 

CRR_Letterhead_Logo_small
Charles Rutenberg Realty of Illinois
3135 Book Rd
Naperville, IL 60563
LIC 481.010.165

 

Fox Valley Home Shortage?

This spring, it hasn’t taken me a very long time to run through the full list of properties available in the lovely Fox Valley area for my select buyers.  It is a short list!  While home buyers may be stuck with low inventory, home sellers are enjoying the sellers market for the first time in years.  

 Chicago Housing Market February 2017

The housing inventory levels for an average market, are about 6 months’s worth of inventory during the year, but there is far less currently available now.  Today’s home buyers are seeking great homes with super low mortgage rates, and are willing to compete in bidding wars for the best ones if necessary.

 

Cloud CMA Map ScreenShot Naperville.jgp
Where are all the houses?  Been there, seen that

Adjust your expectations:
Fewer homes on the market can mean it may take longer for you to find the right one or even changing your expectations.  A willingness to compromise can go a long way to getting you into the perfect place.  Perhaps a finished basement can be skipped but a 3rd bedroom is a must.  If you prefer newer homes, but the city is full of turn of the century farmhouses, you may need to reconsider the style.  Or buyers may need to expand their search radius, increase their budget, or consider buying something that may need fixing up.  

Adjust your search:
Optimize your property search by getting the latest listings emailed to you once, twice or even as they hit the MLS!  Homes may be on the market for a day or two and have offers already in place if your search is slowed down.  Catching the listings as soon as they are activated can mean previewing them the same day or next day.  Consider talking to your agent about the best times to arrange showings for you and work around your schedule so you don’t miss a preview.

Adjust your offer: 
An experienced agent, like myself, can help you put together the best offer with a strong, personal letter, a pre-approval mortgage note from a local lender, and properly signed paperwork.  Using services to collect electronic signatures under Docu Sign or Adobe Digital Signature, will help get your offer in the same day and avoid any delays.  I also can monitor the status of the deal and send regular updates as it progresses.  Working out the price is just one part of the real estate transaction.

0S341 Kellar Ct exterior

 

 

Did you know?

Fox Valley Homes is full of valuable seller marketing strategies and ideas.  In addition to helping owners with selling,  Fox Valley Homes offers full broker service for regular listings,  rentals, buyers, as well as investors in residential properties across the northern Illinois and Chicago region. No other agent runs an Investor Meetup Group like Fox Valley Homes!  We coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information, about Fox Valley Homes, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct  jkinzle73@gmail.com.

2016-09-25

Contact me:

sitting-hs2

Jennifer Kinzle, e-PRO, SFR Broker
Direct/Text:  (630) 854-4360
Email: jkinzle73@gmail.com
Twitter: @jkinzle
Instagram: @jkinzle

Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Website:  www.FoxValleyShortSales.com
MeetUp: Fox Valley Investors MeetUp Group

CRR_Letterhead_Logo_small
Charles Rutenberg Realty of Illinois
3135 Book Rd
Naperville, IL 60563
LIC 481.010.165

Front Porch News – Fox Valley Homes April 2017 Newsletter

April 2017 Newsletter

Now available: Front Porch News from Fox Valley Homes

Click the link below to download a PDF:

Fox Valley Homes April 2017 Newsletter

 

Did you know?

Fox Valley Homes is full of great marketing tips and ideas.  In addition to helping owners with distressed homes and foreclosures,  Fox Valley Homes offers full broker service for regular listings,  rentals, buyers and home sellers, as well as investors in residential properties across the northern Illinois and Chicago region. We coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information, about Fox Valley Homes, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct  jkinzle73@gmail.com.

2016-09-25

Contact me:

sitting-hs2

Jennifer Kinzle, e-PRO, SFR Broker
Direct/Text:  (630) 854-4360
Email: jkinzle73@gmail.com
Twitter: @jkinzle
Instagram: @jkinzle

Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Website:  www.FoxValleyShortSales.com
MeetUp: Fox Valley Investors MeetUp Group

CRR_Letterhead_Logo_small
Charles Rutenberg Realty of Illinois
3135 Book Rd
Naperville, IL 60563
LIC 481.010.165

 

Affordable Streamwood homes, ready right now!

moving-boxes-pic
This winter, why not treat yourself to a new home instead of a tropical vacation?  Instead of packing a bag, pack up your gear and bring it to your new home!  With so many wonderful properties now on the market in Streamwood, there is something for every budget.  And if your credit score is less than perfect, contact me for info on how to get it fixed and ready for a purchase!

MLS #          Stat      LP/SP    BD/BTH  Street# Str Name    Sfx                  Area  ASI
09310181      ACTV  140000      3     1.1   413       Walnut      DR                         107   REO/Owned
09378462    ACTV  154900      3     1     110         Edgewood    DR                      107   None
09377379    ACTV  155000      3     2     17    E     Oltendorf   RD                        107   None
09361114      ACTV  159000      3     2     1629      Moore AVE                              107   Short Sale
09290908    ACTV  159900      3     1     6     E     Streamwood  BLVD               107   None
09209684    ACTV  159900      3     1     310   E    Streamwood  BLVD              107   Short Sale
09279473    ACTV  160000      4     1.1   105         Cedar CIR                               107   Short Sale
09326840    ACTV  162900      3     1     509   W   SCHAUMBURG  RD            107   None
09391949    ACTV  165900      3     1.1   522         LACY  AVE                              107   Short Sale
09398800    ACTV  169000      3     1     115          Woodcrest   CIR                     107   None
09328481    ACTV  169900      3     1     109         Center      RD                           107   None
09155207    ACTV  178800      3     1     138          Filbert     DR                            107   None
09386631    ACTV  179000      3     1.1   400   S   Park  BLVD                             107   None
09320600   ACTV  179999      4     1     420         Hillside    CT                          107   None
09380200   ACTV  188500      3     2     11            Windsor     CT                         107   Short Sale
09145658     ACTV  189900      3     1.1   14          GROW  LN                               107   None
09392264    ACTV  190000     3+1 bsmt    2      424   Walnut      DR                107   None
09351659    ACTV  190000      3     1     4              WOODMAR     CT                   107   None
09395981    ACTV  192400      3     2     227   E     Streamwood  BLVD            107   None
09372824    ACTV  194900      3     1     1010        Meadow      LN                      107   None
09375288    ACTV  194999      3     1.1   1215        Klafter     CT                          107   None
09371113     ACTV  197400       4     1.1   1621      Moore AVE                             107   None
09386429   ACTV  197500      3     1     16            Whitehall   CT                       107   None
09352751    ACTV  197500       3     1.1   32           Chaucer     LN                       107   None
09382972   ACTV  198000      4     2.1   113   W  Streamwood  BLVD            107   None
09380359    ACTV  198800      3     1.1   1031        Meadow      LN                     107   None
09393913    ACTV  199900      3     2     714           Sunset      CIR                      107   None
09381981    ACTV  199900      3     1     602         HAYWARD     AVE               107   None
09402150    NEW   179900      2     2.1   78          King        DR                          107   None
09392184    PCHG  164900      3     1     807         Post        LN                           107   None
09396928    RACT  137898      3     1     551           Ridge       CIR                        107   None

packing-boxes-images

Different price?
Looking for something in a different price range?  Let me know and I can run you a complete list.

Different location?
While many folks are enjoying Streamwood, we have plenty of others seeking homes in nearby towns too.   Contact me today for a full list of 100’s of available homes in St. Charles, Elgin, St. Charles, South Elgin, Geneva, Bartlett, and more.

 

Did you know?  
In addition to helping owners with distressed homes,  Fox Valley Homes offers full broker service for regular listings,  rentals, buyers and home sellers, as well as investors in residential properties across the northern Illinois and Chicago region. All team members are trained to coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.

For more information, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct  jkinzle73@gmail.com.

foxvalleyhomes-v1_with_black_text-logo_long-3

Contact me:

sitting-hs2

Jennifer Kinzle, e-PRO, SFR Broker
Direct/Text:  (630) 854-4360
Facebook: Fox Valley Homes – Jennifer Kinzle, Broker
Fox Valley Investors Group: Fox Valley Investor Group – on Facebook
Email: jkinzle73@gmail.com
Twitter: @jkinzle
Website:  www.FoxValleyShortSales.com
Instagram: @jkinzle
MeetUp: Fox Valley Investors MeetUp Group

CRR_Letterhead_Logo_small

Charles Rutenberg Realty of Illinois
1733 Park St, #150
Naperville, IL 60563
LIC 481.010.165