Foreclosures can cost MORE!!

So many buyers think the best deals out there are foreclosures and short sales, but they can actually cost MORE!




Here are just some of the additional costs you may incur with a bank/distressed sale:


Survey: Approximately 150.-300. (usually a seller cost)



No Tax pro-ration: (usually 105% of the last tax bill in this area, banks only will usually do 100%)



Usually no negotiation on repairs, so if you do your inspection and it is not satisfactory, you talk with your attorney regarding canceling the contract if it is within the contingency dates, but no one will give you back the 300. or so you may have spend on a home inspection.



Not closing on time can also cost you a Per Diem, as banks usually have this in their contract addendums. This is more of a risk now with underwriting and appraisals taking longer and daily changes in the banking industry.



Appliances: Banks usually say there is “no bill of sale on personal property”, so what you see when you write an offer may not be what you see before closing.



No disclosures: Since they have never lived in or in most cases, have never even seen the property, they are exempt from having to do the usual disclosures.



Deferred maintenance: When someone can no longer pay their mortgage, many times they also have not been able to properly keep up with maintaining their home.



Timing: Many times there is a very long wait to get a response on an offer, and it is usually worse with short sales than REO’s, which are properties that have already been foreclosed on. You could be risking closing on time to be able to take advantage of the first time home buyers credit, which expires 12/1/09.




These are just some things to keep in mind when considering your options. Foreclosures and distressed sales can be great opportunities for the right buyer who is not trying to closely watch their costs, who has a lot of time and patience, and the ability not to get too attached to or emotional about the property. Don't get me wrong, there are a lot of great deals out there to be had right now, but don't make the mistake of thinking that the only good deals are distressed sales. Sometimes, a truly motivated seller with equity in their home can also offer a wonderful buy with less cost, less waiting and less hassles!



It is a GREAT TIME TO BUY REAL ESTATE in McHenry County, Cook County and Lake Counties in Northern Illinois. There are fabulous homes for sale at great prices!


***especially for first time buyers, investors and move up buyers.*** Rates are great, too!

We are having a "HUGE sale" on our large inventory of VERY well priced HOMES!

To Search Homes For Sale, Please Contact Me Directly Or Feel Free To Search On My Website!
My Direct Number at the Office is 847.516.6760



If I can be of assistance to you, please do not hesitate to call or email me. It will be my pleasure! By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them. My business keeps growing from your referrals.



There are fabulous buys on the market....now is a GREAT time to buy real estate in IL, especially for MOVE UP Buyers, Waterfront Buyers, Vacation and Second Home Buyers, Investors and First Time Buyers!

February 2009 McHenry County Real Estate Market Report

It is a GREAT TIME TO BUY REAL ESTATE in McHenry County, Cook County and Lake Counties in Northern Illinois. There are fabulous homes for sale at great prices *especially for first time buyers, investors and move up buyers.* !

Overall,What is happening so far, this year, in McHenry County this past month?

Single-family homes:

2594 single family homes are for sale in McHenry County with an average list price of $347,460 and an average market time of 271 days.

74 homes have closed so far in 2009 with an average list price of $230,905 and an average sales price of $213,676 with an average market time of 208 days. The successful sellers, with the help of thier Realtors have realized an average of 93% of their asking prices in the past month.

248 homes in McHenry County are under contract either 'contingent' or 'pending'.



So......some homes ARE selling!!



Now...Let's take a look by areas to narrow it down.

Cary / Oakwood Hills, IL:

11 homes in Cary are under contract either 'contingent' or 'pending'.

199 homes in Cary, IL are for sale with an average market time of 175 days.

2 homes in Cary have closed so far in 2009 with an average sales price of $305,000 .



Crystal Lake / Lakewood / Priarie Grove, IL:

14 homes in the Crystal Lake areas are under contract either 'contingent' or 'pending'.

176 homes are for sale in Crystal Lake, Lakewood, Prairie Grove with an average market time of 159 days.

11 homes in Crystal Lake closed so far in 2009 with an average sales price of $216,655.



McHenry / Johnsburg / Sunnyside / McCullum Lake / Holiday Hills / Ringwood / Lakemoor, IL (also including some areas of Bull Valley):

534 single family homes are for sale in McHenry, Johnsburg, Sunnyside, McCullum Lake, Holiday Hills, Ringwood and Lakemoor with an average list price of $339,938 and an average market time of 277 days.

17 homes have closed so far in 2009 in the McHenry areas with an average list price of $191,774 and an average sales price of $178,615 with an average market time of 62 days.

The successful sellers in McHenry, with the help of thier Realtors have realized an average of 93% of their asking prices in the past month.

37 homes in the McHenry areas are under contract either 'contingent' or 'pending'.



Algonquin, IL:

176 single family homes are for sale in Algonquin with an average list price of $350,587 and an average market time of 259 days.

11 homes in Algonquin have closed so far in 2009 with an average list price of $222,364 and an average sales price of $216,655 with an average market time of 109 days. The successful sellers, with the help of thier Realtors have realized an average of 97% of their asking prices in the past month.

15 homes in Algonquin are under contract either 'contingent' or 'pending'.



Lake In The Hills, IL:

30 homes are under contract in Lake In The Hills either 'contingent' or 'pending'.

209 single family homes in Lake In The Hills are for sale with an average market time of 142 days.

9 homes in Lake In The Hills closed so far in 2009 with an average sales price of $204,822 .



Fox River Grove, IL:

4 homes in Fox River Grove are under contract either 'contingent' or 'pending'.

41 single family homes are for sale in Fox River Grove with an average market time of 166 days.

2 homes have closed so far in 2009 in Fox River Grove with an average sales price of $271,950 .



Barrington, IL (McHenry County Areas of Barrington Only):

0 homes in Barrington (McHenry County) are under contract either 'contingent' or 'pending'.

41 homes are for sale in the Barrington areas of McHenry County with an average market time of 199 days.

1 home in the McHenry County areas of Barringon closed so far in 2009 with an average sales price of $400,000.



Huntley, IL:

25 homes in Huntley are under contract either 'contingent' or 'pending'.

224 single family homes are for sale in Huntley with an average market time of 186 days.

4 homes in Huntley closed so far in 2009 with an average sales price of $241,350.



Island Lake, IL:

6 homes in Island Lake are under contract either 'contingent' or 'pending'.

49 homes are for sale in Island Lake with an average market time of 162 days.

0 homes have closed so far in 2009 in Island Lake.



Woodstock / Greenwood / Bull Valley, IL (including some areas of Bull Valley):

21 homes in Woodstock, Bull Valley and Greenwood are currently under contract either 'contingent' or 'pending'.

276 single family homes are for sale in Woodstock, Bull Valley and Greenwood with an average market time of 169 days.

7 homes in Woodstock, Bull Valley and Greenwood have closed so far in 2009 with an average sales price of $251,900.



Wonder Lake, IL:

11 are under contract either 'contingent' or 'pending'.

158 single family homes are for sale in Wonder Lake with an average market time of 288 days.

7 homes in Wonder Lake have closed so far in 2009 with an average sales price of $175,986.



Marengo / Harmony, IL:

8 homes are under contract either 'contingent' or 'pending' in Harmony and Marengo.

116 homes are for sale in Marengo and Harmony, IL with an average market time of 173 days.

3 homes have closed so far in Haermony and Marengo in 2009 with an average sales price of $111,667.



Alden / Harvard / Chemung / Lawrence, IL :

9 single family homes in Harvard, Alden, Chemung and Lawrence are under contract either 'contingent' or 'pending'.

102 homes are for sale in Harvard, Alden, Chemung and Lawrence with an average market time of 202 days.

1 home closed so far in 2009 with an average sales price of $160,000.



Hebron, IL:

2 homes in Hebron are under contract either 'contingent' or 'pending'.

22 are for sale with an average market time of 297 days.

0 closed so far in 2009 with an average closed price of n/a.



Richmond, IL:

2 homes in Richmond are under contract either 'contingent' or 'pending'.

44 single family homes in Historic Richmond are for sale with an average market time of 228 days.

0 homes in Richmond have closed so far in 2009 with an average sales price of n/a.



Solon Mills / Spring Grove, IL:

8 homes in Solon Mills and Spring Grove are under contract either 'contingent' or 'pending'.

106 homes are for sale in Spring Grove and Solon MIlls with an average market time of 154 days.

1 home in Spring Grove/Solon Mills has closed so far in 2009 with an average sales price of $155,400 .



Overall, even though we are seeing some positive changes in our market, we are still experiencing a Buyer's Market Market in Fox River Grove and the in most areas of McHenry County and in most of the surrounding areas of Northern Illinois.

Real estate is on sale in McHenry County, IL!

Rates are great, too!

(Yes, they are still giving loans!)

We are having a "HUGE sale" on our large inventory of VERY well priced HOMES! ;-)








If I can be of assistance to you, please do not hesitate to call or email me. It will be my pleasure! By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them. My business keeps growing from your referrals. My Direct Number at the Office is 847.516.6760

How is the current market in Crystal Lake, IL?

How is the current market in Crystal Lake, IL?

Crystal Lake is located in McHenry County.

As of this morning, per MRED MLS, for the past 3 months:

• We currently have 669 Single Family homes on the market in Crystal Lake that are active and available.


• They have been on the market for an average of 202 days.


• The average list price is $389,949.

During the past 3 months, 63 Single Family homes have successfully closed with the help of their Realtors. This only represents 46% of the market that have had success. They took an average of 172 days on the market to be SOLD.

• The average list price of the SOLD Single Family homes is $295,677and the average SOLD price is$279,876.

So, on the average Single Family homes in Crystal Lake have been getting an average of 95% of their list prices, with the help of their Realtors.

• We currently have 208 Attached homes on the market in Crystal Lake that are active and available.


• They have been on the market for an average of 173 days.


• The average list price is $204,535.

During the past 3 months, 20 Attached homes have successfully closed with the help of their Realtors. This only represents 45% of the market that have had success. They took an average of 158 days on the market to be SOLD.

• The average list price of the SOLD Attached homes is $177,907 and the average SOLD price is $173,028.

So, on the average Attached homes in Crystal Lake have been getting an average of 97% of their list prices, with the help of their Realtors.

We are still experiencing a Buyer's Market in Crystal Lake.

If I can be of assistance to you, please do not hesitate to call or email me. It will be my pleasure! By the way, if you know of someone that could benefit from my high level of service, please call or email me with their name and daytime phone number and I will make sure to follow up and take great care of them. My business keeps growing from your referrals.

My Direct Number at the Office is 847.516.6760

It is a GREAT time to Buy or Move-up in Northern Illinois!

It is a GREAT time to Buy or Move-up in Northern Illinois!

Our market has been equalizing........

That's GREAT NEWS for about 75% of current homeowners and those who want to be homeowners. Here's why . .

If you have a home and have been thinking of moving up, this is the best real estate market for you. For example, consider your home is worth $300,000 based on recent sales, but with a high inventory of homes for sale and a sluggish market, we need to price and/or accept $15,000 (5% lower) to get the property sold. Your immediate reaction would be that you lost $15,000 and you say to yourself , "I should have sold last year when the market was hot for sellers!". But you really didn't lose. In fact, you gained because you are moving up. For example, if you are buying a $500,000 home, that seller may be faced with the same sluggish market we may have faced when we sold your home. You may now be able to also buy the $500,000 home for $475,000 (5% lower). Although you sold for $15,000 less, you bought for $25,000 less so you benefited by $10,000.

In an opposite market where houses sell fast and often for more than the asking price, you can lose money when moving up. Also, and more importantly, this is the best market for us to find the "best house for you" because we have more time to shop and the inventory of homes for sale is larger, so there is more to choose from, also.

In a sellers market, you may end up "settling" for a home because the choices are slim and you are pressured to buy quickly before values keep rising. Buyers have so many choices now of very well priced properties and motivated sellers.

If you are a first time buyer with a small or zero down payment, this is the best time to buy. Sellers now will be more likely to welcome buyers with low or no down payment and some sellers may even help pay your closing costs. In an opposite market, the sellers usually won't even consider any offers unless there is a high down payment which prohibits most first time buyers from buying.

If you are a long term real estate investor, now is a great market to buy. The higher inventory of property allows us to find the ideal rental property that meets your investment criteria. Also, we will be more likely to negotiate excellent terms with the help of your Realtor, me:-)

Please do not get me wrong....this is not a depressed market and some local markets may differ quite a bit from each other. We call it "equalized". We just have been coming off the very long stretch of being a sellers market.

Everyone wants to buy low and sell high but it's virtually impossible to time markets. This is called speculation. If you view real estate as a long term investment, 5 to 10 years minimum, you will more than likely catch a "wave" of appreciation. Remember, you will never catch the wave unless you are in the water.

Have a great weekend!

Debra Kukulski, Realtor
A.B.R. (Accredited Buyers Representative);
RECS(Real Estate Cyber Specialist);
G.R.I(Graduate Realtor Institute).;
e-PRO(e-Professional)
‘Re/Max Unlimited Northwest
847-516-6760 Direct

If you have a friend or family member looking to buy or sell a home, please pass their name and number along to me and I will give them the samegreat service I give to all of my clients! I can also help you find a Realtor nationwide! Licensed in Illinois