Real Estate Resources

Buying or renting a new home in downtown Chicago can be stressful. Check in with our blog for information on home buying resources, home selling resources, and various other real estate resources that will help you along the way. For more information on Chicago real estate resources, contact Ted Guarnero at (312) 566-8141.

Found 17 blog entries about Real Estate Resources.

6 Contingencies to Use When Buying a New HomeNo one wants to discover that the home they purchased, the home that they thought was practically prefect in every way, is actually filled with black mold, termites, and foundation that’s ready to break apart at a moment’s notice. This is why home buyers should utilize contract contingencies to protect themselves from committing to buying a home that is hiding some dark secrets. Here are six contingencies all home buyers, in Depaul or elsewhere, should consider using.

1. Inspection

All home buyers are encouraged to have their new home inspected after their offer has been accepted. An experienced home inspector can spot all the flaws in a home that an uneducated buyer would look over. An inspection contingency is a special allowance that

1,021 Views, 0 Comments

How Second Homes and Vacation HomesInvesting in a second home as a respite for future family vacations or as a rental property is a luxury that many owners often consider undertaking once their primary mortgage is nearly or wholly or paid off. However, the buying process will differ between obtaining a primary residence, a private second home, or a vacation rental property that will be partially used by others. Those who plan to buy using outright cash will not have to deal with the mortgage limitations on second homes and vacation homes, but they can still find these tips helpful concerning tax breaks.

Buying a Primary Residence

Buyers typically enjoy the best mortgage rates on their primary home purchase. However, there are very specific primary residence qualifications that

999 Views, 0 Comments

Tips for Choosing the Best Real Estate AgentBecoming a homeowner is many people's biggest dream while also being one of the biggest investments of their lifetime. Whether one is a first-time homebuyer or has been around the real estate block before, careful consideration must be taken to choose the best real estate agent to maximize on that investment. Finding a real estate professional with the ‘right stuff' to help potential buyers find the perfect home in a timely manner will require some research, but it's time wisely spent. Here are five quick tips for finding a top-notch real estate expert.

Professionalism, Reputation and Experience Matter

One of the biggest mistakes homebuyers make is choosing an agent based upon who's listed at the top of Internet searches or online reviews and

2,385 Views, 0 Comments

DIYOr Hire a Pro? Tips to DecideMany homeowners choose to complete DIY home improvement projects because they enjoy the satisfaction they get from improving their property. DIY home improvement projects are also more affordable than home improvement projects completed by contractors. However, DIY home improvement projects have their downsides. Homeowners who complete projects incorrectly can cause damage to the home or can even sustain an injury. If you're a homeowner who needs to upgrade your home and you're trying to decide whether or not to complete the projects without help from a contractor, these tips can help.

Assess the Danger

Some projects are dangerous without help from a pro. Some common examples of work that homeowners should not perform without some experience

1,197 Views, 0 Comments

Home Buying Tips Often OverlookedBuying a home is a big step for many people and before any moves are made, it is important to know what you are doing and what you should be looking for. As part of this, many people look for some tips from people that either work in the real estate field or from those that have purchased a home before. While this is a great idea, there are often many tips that are overlooked or simply not talked about. In order to really prepare you for the purchase of a property, you need to know about the most common tips as well as some that are not as well known. These tips can help you make the right decision when you are buying a home.

Understand the Full Cost of a Home

For many people, the actual mortgage payment on a monthly basis is cheaper than

1,289 Views, 0 Comments

Understanding 203k Home LoansNot all homes are ready for move in as soon as they are purchased. In fact, there are some homes that still require a lot of work. Whether a home requires a little bit of work or a whole remodel, there are some ways that purchasers can accomplish both. One of the common ways today is with a FHA 203k home loan.

What Are the Basics of the FHA 203k Loan?

An FHA 203k loan is a loan that allows purchasers to get one loan for both the purchase of a property as well as the home improvement component of the home. Additionally, the loans can be adjusted for home improvements. The loan is guaranteed by the FHA which is a reason why lenders like this loan. This also means that it is easier for a purchaser to get an approval because it is an FHA loan and

902 Views, 0 Comments

What to Know About Capital Gains When Selling a HomeSelling a home can mean the chance to move to a new location. It can also mean a reduction in how much money is going out every month. Both can be very valuable, but it is important for every seller to know that there can also be costs and fees associated with selling a home. Being aware of these from the very beginning of the process makes it easier to sell a home and can reduce anxiety and help the seller prepare for any expenses that come along with the process. One of those expenses may be capital gains tax, although many sellers will be exempt from all or part of that tax. Here is what sellers should know.

Marital Status Matters for Capital Gains

People who are single can exclude the first $250,000 of the selling price of their home from

734 Views, 0 Comments

Under the right circumstances, a home warranty can save home owners money and anxiety. However, many first time home buyers have never had experience with home warranty companies, and do not know whether or not the home warranty is right for their needs. Knowing how home warranties work and what they do and don't cover can help you decide whether or not to purchase a home warranty when you buy a home.

Difference Between Home Insurance and Warranty

One of the big questions home buyers ask is, what is the difference between home owners insurance and a home warranty?

Home owners insurance covers certain types of damage to your home's structure, and also covers loss of possessions under certain circumstances. Fire and theft are common types of

730 Views, 0 Comments

What Happens at a Home InspectionFor many households today, the purchase of a home is likely to be the biggest investment made during their lifetime. Because of this fact, it is important for buyers to make sure they are getting a good value for the money they spend. One of the best ways to accomplish this goal is for home buyers to make their offer to purchase contingent upon the results of a professional home inspection performed by a qualified inspector. But it is important to also remember that there are no perfect homes, so it can be helpful for buyers to understand some key points about the home inspection process before they begin.

The Inspector is as Important as the Inspection

Since the choice of a home inspector is up to the buyers, it is important that they choose an

591 Views, 0 Comments

Divvy Bikes ChicagoIt’s hard to miss all those bright blue Divvy bike stations popping up around Chicago, and according to the company website, the fleet is now up to 4,000 bikes spread out across 400 stations all over the city. There’s no doubt Chicago’s new bike sharing system is an affordable and convenient form of transportation for many local residents, but not all share the same enthusiastic outlook about the Windy City’s trendy new bike rental program. Back in August we heard about two condo owners suing the city of Chicago and their Alderman over the placement of a Divvy Bike Station in front of their building, citing it will bring an invasion of people, trash, and noise to their doorstep. And of course we all know how John Kass, local Chicago Tribune columnist,

2,004 Views, 0 Comments