What Every Homeowner Needs To Know About Home Insurance

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• What it covers: An average policy will pay for damage to your property and possessions due to certain storms, fire, theft, or vandalism. Similar to renter's insurance, it can also provide liability coverage if someone gets injured on your property and decides to sue. Your policy also covers shelter costs in the event that you are temporarily displaced from your home. Homeowner's insurance can also protect items outside of the home, such as items stolen from your car; auto insurance won't cover it but your homeowner's policy probably will.
• What it doesn't cover: A standard policy does have some exclusions; earth movements such as landslides, earthquakes, and sinkholes, power failure, war, nuclear hazard, government action, faulty zoning, bad repair or workmanship, defective maintenance and flooding. Wind storms are usually covered, including tornadoes, however some companies don't include tornadoes and hurricanes in high risk areas. Water damage can be hard; normally water from above (rainwater or a burst pipe) is covered but water from below (such as backed up sewers) usually isn't covered.
• Shop around: Don't just shop for a great policy; make sure you find an agent that you trust.
• Actions to reduce premiums: Having a working smoke detector may help lower premiums as will simply having a deadbolt on your door or having a burglar alarm system. A deadbolt can reduce a premium by about 5% and an alarm system can create a 15%-20% premium reduction.
• Replacement coverage vs. market value: Replacement cost covers repairing or replacing your entire home; market value is how much someone would pay for your home and the accompanying land in it's current (damaged) condition. 
• Don't wait to file a claim: When looking into policies, be sure to ask about time limits for reporting claims and then stick to them!
• Write everything down: To avoid any issues, be sure to write everything down about a loss-document it as best as you can. Keep all receipts, contracts, appraisals, and also document phone calls by writing down who you spoke to and when.

Price Reduction

3800 Indian Head Lane Joliet, IL 
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10 Real Estate Terms Everyone Should Know

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1. Buyer's Agent vs. Listing Agent: The buyer's agent represents the home buyers and the listing agent represents the home sellers.
2. Fixed rate mortgage vs. Adjustable rate mortgage: A fixed rate mortgage has a set interest rate for the life of the loan, usually 30 years. An adjustable rate mortgage has a variable interest rate, usually 5, 7 or 10 years. 
3. Pre-approval letter: A letter from the bank stating an estimate of how much they will lend you. This letter shows home sellers that you will be able to get a loan when needed and also helps to point you in the right direction when house hunting as far as what you can afford.
4. Listings: Homes for sale.
5. Inspection: After an offer is made on a home, the buyer needs to schedule an inspection which should cost around $500-$800 depending on the market. The inspector will thoroughly go through the home and look at the plumbing, foundation, walls, electrical, heating, and appliances. 
6. Appraisal: When an application for a mortgage is made, the lender will require an appraisal to be made of the home. A licensed appraiser will determine an estimate of the home's value based on comparable homes that have sold in the area.
7. Contingencies: When an offer is made on a home, it can be stated that certain conditions be met before the deal goes through.
8. Offers and contracts: Once you find your dream home, an offer will be made on the property with the assistance of an agent. Choosing an experienced Realtor is key to winning negotiations.
9. Closing costs: These are fees that go along with the purchase of a new home. These fees include items such as taxes, loan processing costs, and title insurance and can total about 2%-5% of the purchase price of the home.
10. Title insurance: After negotiations are complete and the seller has accepted an offer, a home title report will be received within about a week. Most lenders require title insurance to be paid; title insurers search public records to determine that the home seller had rights to the title and that there are no liens against the home.

5 Tips For Single Homebuyers

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1. Stay within your budget- Buy a home well within your means and ensure that you can afford it even during lapses in employment that you may experience.

2. Be aware of maintenance- If you are concerned about lawn care and other exterior maintenance, you may want to lean towards a home with a smaller yard or even in a newer community with homes requiring less up keep. If you are not interested in lawn manicuring or outdoor fixes you should look into a town home or a condominium.

3. Security- Being single means your home will be unoccupied more often than not and you want to ensure that you are in a safe neighborhood with a low crime rate so you can lock down your home before you leave and not have to worry about it.

4. Think about resale value- You may find yourself moving after a few years due to a job relocation or life change so when you are shopping for a home-keep the resale value in mind so that if you ever find yourself wanting to sell, you can do so easily.

5. Buy for the future- Although you are single now and may not need much room, plan for the future when you may add a spouse and children to your home. If you can afford it, it's a good idea to buy a home with an extra bedroom or two to spare.

New Listing In Joliet

3800 Indian Head Lane Joliet, IL 
NEW PRICE!! $227,900!! Plainfield schools! 4 bedroom home! Must see!
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Why Hire An Agent?

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• Education and experience
• Agents are buffers: If you are buying a home, they will keep builder's agents at bay and if you are selling your home, they will filter through the spam and get serious buyers to make an offer.
• Neighborhood knowledge: Agents know the inside scoop on neighborhoods, including school information, demographics, crime, and important information on comparable home sales.
• Guidance on price: Agents will guide clients on determining a price that is best.
• Information on market conditions: Agents will provide information on market conditions including average price per square foot for similar homes, median and average sales prices, average days on the market, etc, which will help guide the buying or selling process.
• Professional networking: Agents can provide recommendations for reputable services needed during the buying or selling process based on past positive experiences.
• Negotiation skills: Top producing agents negotiate very well and will present their clients case in the very best light, while holding client information confidential from competing interests.
• Providing support after closing: Professional agents will answer any questions and provide support to the client even after the closing.

First Time Home Buyer Guide

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• Determine Your Need: Make sure you are buying a home for the right reasons. Think about your future goals and family plans; do you plan on marrying and starting a family? Is your job stable or do you plan on making a big change in the near future? These are all important factors to consider when going through the process of buying a home.
• Do The Math: Think about what kind of down payment you will be able to put down as well as closing costs including taxes and property insurance. Do your research and look into property taxes for areas that you like and shop around for home insurance rates.
• Be Prepared: Having necessary documents ready to go will make the closing process go smoothly. In most cases, you will need a government issued ID, credit report (these can be obtained for free every year), verification form from your employer, W-2 forms, federal tax returns, and bank and asset statements. 
• Search The Inventory: A house is most likely the largest investment that you will ever make in your life so look around. Being a qualified Realtor, I am able to show you available inventory in any given area and can guide you in the process of determining what home is right for you.