Fox Valley Real Estate Blog - The Kombrink Team

Where Will You Go After You Sell?

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for sale has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too.

 So how do you decide which route to go? Do you buy an existing home or a brand-new one? The choice is yours – you just need to figure out what’s most important to you.

Perks of a Newly Built Home

Here are some benefits of buying a newly built home right now:

• Have brand new everything with never-been-used appliances and materials
• Use energy efficient options to save money and leave a smaller footprint
• Minimize the need for repairs and…

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Mortgage Rates Down a Full Percent from Recent High

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish.

Mortgage Rates Trend Down in Recent Weeks

There’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac, they’re now at a level we haven’t seen since February. To help show the downward trend, check out the graph below:

Maybe you’re seeing this and wondering if…

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Helpful Negotiation Tactics for Today’s Housing Market

If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market. And while that doesn’t make this a buyer’s market, it does mean buyers may be able to ask for a little more. So, sellers need to be ready for that possibility and know what they’re willing to negotiate.

Whether you’re looking to buy or sell a house, here’s a quick rundown of potential negotiations that may pop up during your transaction. That way, you’re prepared no matter which side of the deal you’re on.

What Can You Negotiate?

Most things in a home purchase are on the negotiation table. Here’s a list of just a few of those options, according to Kiplinger and LendingTree:

• Sale Price: The most obvious is the price of the home. And that…

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What Every Homeowner Should Know About Their Equity

Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.

Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.

Home Equity: What Is It and How Much Do You Have?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Recent data from the Census and ATTOM shows Americans have significant equity…

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3 Reasons Why We’re Not Headed for a Housing Crash

Some Highlights

• Back in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time.
• Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash.
• Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008. 

Originally posted at Simplifying The Market.

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Stunning 4BR Historic Home for Sale at 120 S Lincoln St, Batavia, IL

120 S Lincoln St, Batavia, IL

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Welcome to 120 S Lincoln St, a stunning 4BR/2.5BA historic home located in the heart of Batavia, Illinois. Situated on a huge in-town lot, this charming residence is within walking distance to downtown Batavia, the scenic Fox River, the library, and more. Professionally landscaped with mature trees, the property features a picturesque wraparound front porch, a 2.5-car garage, and a fully-fenced backyard with a cedar fence (installed in 2019), flagstone walkways, a deck, a firepit, and a…

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Charming 3BR/2BA Split-Level Home for Sale at 22W633 Burr Oak Dr, Glen Ellyn, IL

22W633 Burr Oak Dr, Glen Ellyn, IL

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Welcome to 22W633 Burr Oak Dr, a charming 3BR/2BA split-level home nestled in the desirable Valley View neighborhood of Glen Ellyn, Illinois. This inviting home is ideally situated close to parks, shopping, schools, the renowned Morton Arboretum, and major interstates, offering both convenience and tranquility. Surrounded by mature trees, the property features a 2-car detached garage and a welcoming backyard patio, perfect for outdoor relaxation and entertaining. Step inside to an open…

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Why the Sandwich Generation Is Buying Multi-Generational Homes

Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.

If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.

How Can It Help You Buy a Home?

Realtor.com asked members of the Sandwich Generation if they agree or disagree that taking care of children and parents at the same time is helping them afford a home. A third of respondents said their situation made it easier to buy (see graph below):

Here are a few ways their caretaking…

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The Ultimate Guide to Selling Your Home in Geneva, Illinois

Selling your home in Geneva, IL can be a rewarding experience if approached with the right strategy. Geneva, with its charming neighborhoods and vibrant community, attracts many potential buyers. To ensure a successful sale, homeowners must take a series of essential steps. As a seasoned real estate agent in Geneva, we’ve helped countless clients navigate the complexities of selling their homes. Here are the top 10 things you should do before putting your house on the market.

Clean, Declutter, and Depersonalize

A clean, clutter-free home makes a significant impact on potential buyers. Start by deep cleaning every room, including those less visible areas like behind appliances and under beds. Decluttering helps create a sense of spaciousness.…

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Should You Rent Out or Sell Your House?

Figuring out what to do with your house when you're ready to move can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth?

It's a question many homeowners face, and the answer isn't always straightforward. Whether you're curious about the potential income from renting or worried about the responsibilities of being a landlord, there’s a lot to consider.

Let’s walk through some key questions to ask to help you make the best decision for your situation.

Is Your House a Good Fit for Renting?

Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Maybe you're moving far away, so keeping up with the ongoing maintenance would be…

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