How much should I spend on a kitchen remodel?

You don't want to spend more on a remodel than you can realistically expect to recoup when you decide to sell. Consider your home's value. It is usually recommended that you spend no more than 10-15% of your home's value on a kitchen remodel. Focus on the upgrades that will add value to your remodel. New quality cabinets, granite or quartz countertops, new appliances, flooring, lighting. Spending too much on high end finishes my not provide a significant return on your investment. Consider how long you plan to live in your home and whether the upgrades will add value overtime. Neutral and clean is safe color choices and selections would be advised if you only plan on short term stay in the home.

Can the commission rate change?

The commission rate is typically agreed upon in the listing agreement between the seller and the real estate agent before the home is put on the market. Once the listing agreement is signed, the commission rate is generally fixed and cannot be changed without mutual agreement between the seller and agent. the commission rate should be clearly outlined in the listing agreement, and any changes to the commission rate should be documented in writing and signed by both the seller and agent. If the agent does request a higher commission rate, they are required to disclose this to the seller and obtain their agreement before proceeding

What are red flags to look for on a home tour?

When viewing a home, check for the following. Water damage, look for water stains or discoloration on walls and ceilings. Check cracks in the basement where water can appear. Structural cracks, look for cracks in the walls, basement floor, sloping floors. Doors and windows will not close properly. Vertical cracks going up a wall. Mold or Mildew. Mold needs darkness and moisture. Overtime, a musty smell with visible growth becomes obvious. Check neighborhood including nearby homes, upkeep, traffic and nearby business.

Is there a housing shortage?

The number of homes available is much lower than previous years. Several reason for the current shortage: -Rising interest rates has paused homeowners from selling or moving up. - Building restrictions on new home constructions has made it challenging limiting the supply of new homes. High cost of building materials and home prices has paused the rush for new homes. -The supply chain for building materials, which has led to delays in new construction and renovations Home prices have been rising rapidly in many areas, making it more difficult for some people to afford a home

What does no contingency mean?

No contingency usually means that a sale is being made without any conditions or requirements that must be met before the sale can be completed. This typically means that the buyer is not including any contingencies in their offer, such as a financing contingency, an inspection contingency, or a home sale contingency.

Is it still a good idea to stage a home in a seller's market?

While your home may receive multiple offers, staging can help it stand out among similar properties in the area. This can attract more potential buyers and potentially result in higher offers. Staging can help buyers envision themselves living in the space and can create an emotional connection to the property This can attract more potential buyers and potentially result in higher offers. If you feel confident that your home will receive multiple offers regardless of staging and you would prefer to save the extra money, that may be a valid choice.

Why do so many listings to live on Thursday?

Many real estate agents and brokers may schedule their new listings to go live on Thursdays or Fridays. This is because these days are typically the busiest for real estate activity, as many homebuyers prefer to tour homes on weekends when they have more free time. By listing a home on a Thursday or Friday, it gives potential buyers time to plan their weekend tours and schedule showings.

How much does a kitchen remodel increase home value?

itchen renovation adds to a home can vary widely depending on a variety of factors, such as the size of the kitchen, the quality of the materials used, and the overall market conditions in your area. According to the Remodeling 2023 Cost vs. Value Report, a minor kitchen remodel has a national average return on investment (ROI) of 72.2%, while a major kitchen remodel has an average ROI of 57.7% Working with a reputable contractor and a real estate professional in your area can help you make an informed decision about whether a kitchen renovation is a good investment for your home

Should I do a home inspection?

A home inspection typically includes a thorough examination of the major systems and components of the home, including the roof, foundation, plumbing, electrical, heating and cooling systems, and more. The inspector will provide you with a detailed report of their findings, which can help you make an informed decision about whether to move forward with the purchase of the property. While a home inspection may come at an additional cost, it can ultimately save you a lot of money and headaches in the long run by identifying any major issues before you buy the house

Should I order a home inspection?

A home inspection is typically ordered by the buyer. It will include a thorough examination of the major systems and components of the home, including the roof, foundation, plumbing, electrical, heating and cooling systems, and more. The inspector will provide you with a detailed report of their findings, which can help you make an informed decision about whether to move forward with the purchase of the property. While a home inspection may come at an additional cost, it can ultimately save you a lot of money and headaches in the long run by identifying any major issues before you buy the house

Does a bedroom have to have a closet to be legally called a bedroom?

the main factors that determine whether a room can legally be considered a bedroom include its size, shape, access to natural light and ventilation, and the presence of a means of egress (such as a window or door) that meets certain size and height requirements.

Are ceiling fans out-dated?

Ceiling fans may not be the most cutting-edge or trendy home accessory, they are still a functional and practical option that can provide a range of benefits to a home

How do I find an agent to help me sell my business?

Ask family, friends and/or business associates who have sold a business in the past. They may know a realtor they had with a positive experience. Google realtors who specialize in selling businesses in your industry or niche. Interview a few potential realtors sto discuss their experience, marketing strategies and fees.

Are there any grants when purchasing a manufactured home?

Manufactured homes are generally not. You may want to consult a loan officer for possible programs

How quick can I close?

A 7 day closing is possible. Cash buyers

How to handle a private mortgage?

Contact the mortgage lender. If you are unable to fnd the information you need in the mortgage documentws, you may need to contact the mortgage lender directly. They should be able to provide you with information about the remaining balance on the mortgage, escrow and payment history.

Is it worth digging out a partial basement?

It is important to research the local real estate market to determine if homes with basements are in high demand and if they command a premium price. If most homes in your neighborhood have basments, it might be a wise investment. Adding a basement will increase the sq. footage of your home, however, you have to consider how the additional space will be used? The cost of digging out a crawl space and turning it into a basement can vary depending on the scope of the work. Get quotes from reputable contractors to determine if it is worth the investment

What is wholesale real estate?

Wholesale real estate can be a lucrative business for those who are skilled at finding great deals and have a network of real estate investors to assign contracts to. However, it requires knowledge of the real estate market and legal contracts, as well as negotiation skills to secure profitable deals.

Are there property investment groups to join?

REITs are companies that own, operate, or finance income-generating real estate properties. Investors can purchase shares in these publicly traded companies. National Real Estate Investors Association (NREIA), offer membership opportunities for property investors.

Property value and taxes have gone way up?

You can always have your taxes reassessed and file an appeal with the town or county you reside in.. The specific process and deadlines for filing an appeal can vary depending on your county.

How do I qualify for Affordable Housing?

When qualifying for affordable housing, Income, if your local to the area and size of your household is important when determining eligibility.

How common is fraud in real estate?

The most common fraud you will find in real estate will involve; Rental, Mortgage and Foreclosure. or Affordable Housing. Rental fraud - is when a person is posing as the landlord and advertising a rental property as their own. They will prepare lease contract and request security deposits only to later find out you are scammed. (Make sure you use a licensed realtor). Mortgage fraud is when someone is misrepresenting information of income, assets on a mortgage application to secure a property. Foreclosure fraud is the homeowner is being targeted by individuals promising to help them save their home and negotiating with their lender. If you are facing foreclosure, understand your options. A local realtor/attorney with background in short sales/foreclosures will be able to assist.

How much would a single family home cost in Mililani, HI?

Prices range from $600,000 to $1,500,000. Please note, there is a stream that runs through Miliani. Before purchasing, you may want to investigate if that lies in a flood area.

Is my area a hot market for selling - Cheyenne Wyoming?

Reach out to a local realtor to give you a market analysis on your home value.

What's the best way to scope out a neighborhood?

Take the time to visit the area and explore it on foot or by driving around. Pay attention to the overall cleanliness, condition of the properties, and the presence of amenities like parks, schools, and shops. Evaluate the commuting options and transportation infrastructure in the neighborhood. Engage with local residents, neighbors, and business owners to gather insights about the neighborhood. Join the town Facebook group.

Is applying for a mortgage loan through email normal?

Working with a reputable lender is always advised. It is common practice to receive a pre approval and loan applications through email. The lender will provide you a link to their website/portal for uploading documents which is safe and secure.

Where are the best retirement communities?

The "best" retirement community is subjective and depends on personal preferences, such as climate, cost of living, healthcare, activities, and proximity to family.

What are red flags when buying a flipped house?

Often flipped houses will have the cheapest materials installed, flooring, appliances, cabinetry, lighting, etc. Poorly done carpentry work include but not limited, trim, walls. Often you will find a home freshly painted with a strong oil based primer which could potentially indication mold was in the property and further testing should be done. Uneven floors accompanied often by vertical cracks on wall and ceilings point to foundation issues. Freshly painted basements and/or carpeting should proceed with caution, there could be foundation/structural issues. Check for expansion foam in basement walls, sill plate. Check prior listing of the home to see what was done or not done.

Do I pay US taxes if I live in Canada?

You can use your 401K to buy a home. Some employers allow you to take out a loan from their 401(k) for various purposes, including buying a home. Keep in mind the loan must typically be repaid within a specified period, often five years, and failure to repay it may result in penalties and taxes. Before tapping into your 401K understand the terms and consequences of a 401(k) loan before proceeding. An alternative might be a down payment assistance grant if you qualify.

How do I find out the history of a property?

You can search the country records and find a history of the property information

Realistic estimate of what my home will sell for?

Zillow offers you an zestimate which can be used as a benchmark. Check out what other homes in your neighbhood similar to yours has recently sold. Contact a local realtor in your market to give you a market analysis.

what is the value of my house?

Zillow will give you a zestimate. It is just a benchmark value. Check homes similar to yours that are selling in the neighborhood.

Mobile home for sale?

Selling a mobile home can be done without a realtor. You may want to try local advertising on your own. Mobile Homes are transferred in the same manner you would as a car. Mobile Homes do not hold their value. If the home is not livable, you may want to sell to a scrapper? Check mobile home park requirements and if any restrictions

How is owning better than renting?

When deciding if owning is better than renting will depend on your financial situation. Owning a real estate property involves upfront investment which will include but not limited to, down payment, insurance, closing costs, property tax and the maitenance and upkeep of the property. Rent generally will requirements - good credit score, stable work history, 1st month payment, 1 month security deposit, if applicable pet deposit which is generally non refundable and monthly rental payments vs a mortgage payment. Renting does not give you tax write off as to owning. Depending on where you live, rental prices have gone up substantially over the last few years.

How do I go from renting to owning?

Start saving a down payment Check your credit score Get pre-approved for a mortgage Find a real estate agent Go shop for a home!

How do I find a CCIM Realtor?

Enter the location where you are seeking a CCIM realtor. You can specify a city, state, or even a zip code to narrow down the search results. You can check the CCIM website as well

Thoughts on rent to own?

When deciding if owning is better than renting will depend on your financial situation. Owning a real estate property involves upfront investment which will include but not limited to, down payment, insurance, closing costs, property tax and the maitenance and upkeep of the property. Rent generally will requirements - good credit score, stable work history, 1st month payment, 1 month security deposit, if applicable pet deposit which is generally non refundable and monthly rental payments vs a mortgage payment. Renting does not give you tax write off as to owning. Depending on where you live, rental prices have gone up substantially over the last few years.

Buyers are required to hold a portion of the sales proceeds and send to IRS as a form of tax. It is generally between 10-15%.

Why aren't many homes for sale?

To provide some context, we must reflect on the significant challenges faced during the housing recession that began in 2007. It took several years for the market to rebound, finally showing signs of recovery around 2013. Throughout this period, interest rates remained relatively stable at around 3%. Unfortunately, the consequences of the downturn were severe, resulting in halted homebuilding activities and numerous builders declaring bankruptcy. Fast forward to the present day, and we find ourselves grappling with a new set of circumstances. Interest rates have soared to 7%, accompanied by a considerable surge in home values over the past few years. This sudden shift has inadvertently created a lack of incentive for homeowners to consider moving

Who is responsible for tree removal?

When a tree is encroaching on a neighbors property, Seller is generally responsible for removal. If that is going to be a deal breaker, you may want to address that concern during the contract negotiations.

How do I take my house off the MLS?

The listing agreement dictates the terms. However, if you do not wish to sell your home, you are under no obligation and being the client, you have a right to have the broker/office remove your listing off MLS

Lynne Pruell

Realty 100 LLC

23 Years of Experience

$8M

Total Sales Last Year

Years of Experience

Service Areas

Addison, IL Algonquin, IL Antioch, IL Arlington Heights, IL Aurora, IL Barrington, IL Bartlett, IL Batavia, IL Bloomingdale, IL Buffalo Grove, IL Burlington, IL Caledonia, IL Carol Stream, IL Cary, IL Clare, IL Cortland, IL Crystal Lake, IL Dekalb, IL Des Plaines, IL Dundee, IL Elburn, IL Elgin, IL Elk Grove Village, IL Fox Lake, IL Geneva, IL Gilberts, IL Glendale Heights, IL Glenview, IL Grayslake, IL Gurnee, IL Hampshire, IL Hanover Park, IL Hoffman Estates, IL Huntley, IL Ingleside, IL Island Lake, IL Itasca, IL Kenilworth, IL Lafox, IL Lake In The Hills, IL Lake Villa, IL Loves Park, IL Machesney Park, IL Malta, IL Maple Park, IL Mchenry, IL Medinah, IL Mooseheart, IL Mount Prospect, IL Mundelein, IL North Aurora, IL Northbrook, IL Palatine, IL Park Ridge, IL Prospect Heights, IL Rockford, IL Rockton, IL Rolling Meadows, IL Roscoe, IL Roselle, IL Round Lake, IL Russell, IL Saint Charles, IL Schaumburg, IL South Elgin, IL Spring Grove, IL Streamwood, IL Sycamore, IL Vernon Hills, IL Wadsworth, IL Warrenville, IL Wauconda, IL Wayne, IL West Chicago, IL Wheeling, IL Winfield, IL Wood Dale, IL

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About Lynne Pruell

OUR PHILOSOPY: We understand that buying or selling a home is more than just a transaction: it's a life-changing experience. That's why our team of highly-seasoned real estate professionals is dedicated to providing exceptional, personalized service for all of our clients. We take great pride in the relationships we build and always work relentlessly on the client's behalf to help them achieve their real estate goals. Our team of experts represents the best and brightest in the industry, and we're always striving to lead the field in research, innovation, and consumer education. Today's buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With our extensive knowledge and commitment to providing only the best and most timely information to our clients, we are your go-to source for real estate industry insight and advice.

Community Involvement

Adopt DONT Shop - Animal Rescue

Credentials

LICENSE

Real Estate - Illinois - # 476132816

Designation

SFR (Short Sales & Foreclosure Resource)

Military Relocation Professional

Real Estate Broker

, CSC

Seniors Real Estate Specialist

Top Producer

REALTOR

Specialties

Buyer's Agent
Listing Agent
Manufactured Homes
Residential Real Estate

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Answered Questions

Should I hire an agent willing to work for 1% commission?

An agent taking 1% is not making a lot on the transaction. There is no room to properly advertise your home. Advertisement, professional photographers, virtual tours, etc all costs money. I would read the listing agreement carefully and find out exactly what the realtor will be offering before you sign the agreement.

Answered by Lynne Pruell | Ola | 2190 Views | Working With an Agent | 4 years ago

How can I tell if an area is up and coming?

Areas that are expanding their infrastructure such new home communities, commercial development, schools, shopping are key signs. You can always check the zoning department in the town you are inquiring about the current expansion plans for the area,

Answered by Lynne Pruell | Chicago, IL, USA | 1780 Views | Working With an Agent | 3 years ago

Do I have to change the locks on my new house?

It is advised to change the locks on your new house. You cannot be certain who may have keys to the existing locks. Even if the previous owner handed over all the keys, there could still be duplicates out there that could compromise your home's security. It is relatively inexpensive and gives you a peace of mind.

Answered by Lynne Pruell | Portland, ME, USA | 2055 Views | Working With an Agent | 3 years ago

Do solar panels add value to a house?

Some potential buyers may also be hesitant to purchase a home with solar panels due to concerns about maintenance and the potential for damage to the roof. However, proper installation and maintenance of solar panels should not cause any damage to the roof, and solar panels typically require minimal maintenance once installed

Answered by Lynne Pruell | Gurnee, IL, USA | 971 Views | Working With an Agent | 3 years ago

How much does a bathroom remodel increase value?

On average, a mid-range bathroom remodel can increase the value of your home by around 70-80% of the cost of the remodel. For example, if you spend $20,000 on a mid-range bathroom remodel, you can expect to recoup around $14,000-$16,000 in added home value

Answered by Lynne Pruell | Galveston, TX, USA | 2749 Views | Working With an Agent | 3 years ago