Fox Valley Real Estate

Zoning is not the buyer's choice

Randy Lyon (Kettley and Company) — Sat, 17 May 2008 12:04:12 -0500

I deal with lots of rural property in an area that is quickly changing to residential. I just showed a 13 acre beautiful property that was zoned residential with $8500 per year taxes. The owner claimed it could be zoned for horses just by putting horses on the property. That is not the case. The zoning department is not necessarily the friend of land owners and more likely friends with the tax assessor.

The zoning department was originally created to protect unknowing potential buyers from unscrupulous builders and developers. They established minimums and maximums for such things as setbacks, building size, usage of the property and safety for the general public.

Today to change a property from one zoning to another you can look at the tax basis to ascertain how a property is likely to be zoned. The higher the tax rate the easier to get zoning changed to that higher rate. It is fairly difficult to get zoning down zoned hence from business to residential or in our case residential back to agricultural. These are questions that you should ask your realtor and possibly need to retain an attorney to straighten out before closing on properties today.

Home Warranties Do I need one

Randy Lyon (Kettley and Company) — Tue, 25 Sep 2007 22:56:54 -0500

Home warranties today range in price from $375 to $500. When paying out fees for title, attorney, loan app, flood certification do I really need a home warranty? The answer is yes. The average home buyer is usually pressed to make their payments and have enough money to live. The last thing a young home buyer needs is an unexpected major appliance to fail. A furnace is $2000 and up same for an air conditioner. The $400 is a great assurance for a new home owner.

The other side of the coin is, more and more the courts are filled with litigation from consumers being taken advantage of. The best way for a seller to avoid any implication or impropriety is to offer a home warranty to the buyer. It will give you peace of mind.

Third, real estate agents, the purchase of a home warranty will protect you from further litigation and a great incentive to offer your buyers.

Yorkville Illinois Market Report, Kendall County real estate report

Randy Lyon (Kettley and Company) — Sat, 22 Sep 2007 17:51:18 -0500

The Yorkville real estate market continues to ease amidst fed loweering prime rate and imploding mortgae market. The average home price in Yorkville is 3.28% below last years mark and is just under $241,000. The market peaked back in August of 2005 when home sale prices average $280,000. That is a 32% decrease in home prices and rivals other hot markets like Phoenix Arizona, Las Vegas Nevada and Port St. Lucie Florida. The number of homes that sold this month totalled 41. The average number of days on the market was 87.

If you would like statistics on your neighborhood or town please give me a call or email me and I will get your inofrmation to you ASAP.

Oswego Market Statistics

Randy Lyon (Kettley and Company) — Sat, 22 Sep 2007 16:51:30 -0500

The Oswego Illinois real estate market is back to normal. The price of an average priced home in Oswego Illiniois has skyrocketed this month to 15% higher than a year ago this time. Granted a year ago the market was in the tubes. The numbers this month are 1% below where the market was back in August 2005.

A year ago the following month of September was 16% above August if this scenario holds true then this year for September the average home price will be well over $300,000. for the first time ever. The one factor that has continued to worry home sellers is the market time. Surprisingly , again our Oswego market continues to run between 8-10 weeks that is an acceptable and helathy number.

Call your realtor today to find out if the time is right to sell your home. Should you need the services of a full time seasoned realtor then please give us a call.

Open house 2755 Lahinch on Wednesday the 20th of September

Randy Lyon (Kettley and Company) — Wed, 19 Sep 2007 00:37:47 -0500

Click picture for more photos and virtual tour of 2755 Lahinch. Broker tour 10-3 September 20th. On Supra.

Leava a card for a gas card drawing. Price reduced to $249,000. three bedroom 2 full and 1 half bath. full basement brick paver patio and a wooden playset from Menard's. Thanks for showing.

The three biggest mistakes a seller makes

Randy Lyon (Kettley and Company) — Tue, 18 Sep 2007 15:34:47 -0500

The reduction in the amont of FSBO (for sale by owners) on the market today is an indication of the seriousness of the declining housing market. The seller would like to cut out the fees realtors work hard to earn. I do not blame them for wanting to save money and when the market is hot they have a chance to save thousands of dollars. It is in these tough times that the true value of a professional realtor is understood.

The price is still the number reason why homes sell or sit. Mr seller price your home to sell or your neighbor will. You will help him sell his home because you are over priced.

The number two reason is condition with home prices averaging over $250,000 why would anyone want to spend that kind of money to do lots of work on it. Buyers are looking for a nice home for their family not another project. The professional stagers here on Active Rain can for sometimes just a few hundred dollars make your home stand out above the formidable and large cintengency of homes for sale.

Both of the above reasons have nothing to do with realtors. They are up to the seller but the third seller mistake is directly attributed to realtors. That is marketing. I can not tell you how many times I have received phone calls from sellers who ask what is your commission rate. I have never been asked what do you do to market my home to sell. Do you have a system to get my home marketed quickly and efficiently and thirdly what do we do after we list our home in the MLS.

Will Fed Governors cut rate or leave them alone

Randy Lyon (Kettley and Company) — Tue, 18 Sep 2007 10:48:58 -0500

The 12 Governors of the Federal Reserve Bank will meet today. They are meeting amidst a gone crazy media hype which has caused fear in the housing industry. This was followed by a market adjustment which has caught anxious buyers/sellers to lose their vehicle for moving up to larger/better housing in 2 years. This is coupled with a very aggressive lending segment that has answered the uniquely American question of providing affordable homeownership for anyone who wants it.

I have not heard anyone in the media sigh a large, ahah. The truth of the matter is not everyone wants to have the responsibility of homeownership.

The lifestyles of the middle class can be benchmarked by the day they bought their first house. Life changed for many, it was part of maturing and starting families. The majority of us found additional tax incentives. None of us found less maintenance and more free time. Homeownership is a responsibility but I digress.

The drop in interest rates will probably be .5%. This along with new FHA higher standards may help many of the marginally capable homeowners find a window of opportunity to get out from under their adjustable rate mortgages. It may have a slight impact on the real estae industry as rates will float down to around 6%.

The market will probably improve by next spring but will not be changed much because of a lame duck presidency and the fall election. So the Fed will lower interest rates today I say 1/2%. The wise money will be on a 1/4%.

Earlville Market Report for fall

Randy Lyon (Kettley and Company) — Wed, 12 Sep 2007 17:44:33 -0500

As we go into the fall season you may want to know what the housing market has done this spring and summer in Earlville, Illinois. There have been 10 homes enter into contract since March. These numbers have been calculated from the information available through the MLS of Northern Illinois. Since Earlville is a cross market these numbers may not be complete. There are two other MLSs that serve the Earlville community. The Illini Valley board and the Lee/Dekalb county boards may also have information.
As for the numbers from the MLSNI $1.84 million dollars of real estate have closed. The lowest priced home was $124,900 and the most expensive home was $415,000. The average price of a home was $183,500. There were 8 homes that sold for under $200,000 which makes Earlville an excellent value for affordability in the Chicago metro area and throughout the U.S.
This is an excellent time to purchase a home and with a 700 FICA score interest rates are at 6.5%. The average mortgage in Earlville would be under $1200 and well below most rentals in the area based on 3 bedrooms and 1.1 baths. Consider tax savings and this makes owning a home very attractive.
If you want a list of homes in Earlville contact me and I will see to it that you receive an up to date list. There is a new home coming on the market tonight for under $150 k call to see it tomorrow.

Sandwich real estate market report for August

Randy Lyon (Kettley and Company) — Fri, 07 Sep 2007 00:00:20 -0500

The numbers are in and the Sandwich real estate market is showing signs of life. There are 95 homes currently listed for sale and 5 under contract. There were 5 homes that closed in the month of August with an average sales price of $261,100. The low was $165,000 and the high was $336,000. The most expensive property is currently 1,049,000. The fair is going on through Sunday I'll see you there.

Fox Valley Real Estate Market Conditions

Randy Lyon (Kettley and Company) — Tue, 04 Sep 2007 15:21:03 -0500

The month of July in the Fox Valley has been good. The market conditions have upturned in the Valley. We had 911 properties sold in July that is a surprising 21% increase from the same period in 2006. That puts the total number of homes sold in 2007 at almost 5300 properties. That is an increase of 700 units over last year. The total sales for July alone were over one quarter of a billion dollars.

The news of the Fed considering dropping rates again and the sellers who have caught on to the market make this a great time to buy real estate. If you are looking to purchase September may be the right month to do so.

This information ws compiled from the statistics from the Multiple Listing Service of Northern Illinois

New disclosure form for January 1, 2008 RADON

Randy Lyon (Kettley and Company) — Tue, 04 Sep 2007 15:09:13 -0500

The required disclosure list continues to grow in Illinois. We have the lead based paint disclosure and pamphlet, the seller's property disclosure, and now we will be required to include the Radon Awareness disclosure form. The seller of any homes listed after January 1, 2008 will now be required by Illinois law to provide a pamphlet "Radon Testing Guidelines for Real Estate Transactions" and a form informing the buyers of any tests or knowledge of tests performed on the property in question.

There will be exemptions from the form just like the property disclosure form we use today. Foreclosures, transfer among co-owners and relo companies will not have to fill out or will mark the form N/A.

The form is intended to provide the buyer with the same information the current owner has in the history and condition of the home.

Plano Illinois real estate market conditions

Randy Lyon (Kettley and Company) — Tue, 04 Sep 2007 13:00:52 -0500

The Plano Illinois real estate market condition report for August 2007. The market is seeing improvement with 10 homes under contract in August that should close this month. The total inventroy for single family homes stands at 159 homes. The mix of of homes includes 8 homes that the listing has expired and not been renewed and 12 listings where the seller's have cancelled the listing and not relisted with another real estate company.

The bad news is that only 1 home actually closed in August it sold for $153,000. The market is definitely a buyer's market but we are seeing an upturn in homes under contract.

Blogging is like standing around the water cooler

Randy Lyon (Kettley and Company) — Wed, 22 Aug 2007 10:14:40 -0500

Blogging can be (is) counter productive. I've noticed that the new "water cooler" are many of the thousands of new blogs that are on the internet each day. Do not misunderstand there are some really fantastic writing on the blogs.They are providing a real service to clients and to the public. The information age is upon us. The bloggers are a part of supplying this information at an ever increasing rate.

The sad thing is that many of these blogs are really a very social place, a journal or log , hence weblog, of an individuals daily experiences. I am not familiar with all of the blogging systems there are but maybe we need to read the tags first. They may be a better indication of what a blog is about instead of the title. Maybe we should call a real estate blog a prolog or R.E.gister instead of a blog.

The water cooler at work has long been touted as a place where rumor, gossip, complaints about the market, the clients, the management, the weather have been spread. It has long been thought to be a viral, in the negative sense location in the office. A waste of resources and a breeding ground for discontent. Blogs are the new water cooler, the web is the new office.

Blogs are viral marketing. The long tail of the blog is helping with SEO and allowing many savvy agents to get more business from the web. The web 2.0 is going through growing pains. In web 1.0 we had to combat adware, viruses, and spam. The new 2.0 will have a glitch or two as well. Use facebook, youtube, myspace for your social networking. The "prolog" oe "r.e.gister" should be used to network in your professional life.

Where do I turn with bankruptcy lurking

Randy Lyon (Kettley and Company) — Mon, 20 Aug 2007 17:28:38 -0500

If you have a feeling of despair and filing for backruptcy looks like the only way out from under the endless calls from creditors and collection companies. Take a minute and call your realtor. Or better yet call a CRS realtor. Why, you ask? The CRS designation is earned by attending a series of two day courses. They are intense and cover a single or closely related topic. The CRS 204 class is a class for realtors to learn about wealth building. Ok you ask why would I be interested in making realtors wealthy when I am going down the tubes and fast.

Well the answer is simpler than you think. The CRS course lays the ground work for working with banks and short sales. This is incidental and not intended to play out working with foreclosures. In the course work realtors work with banks and loss mitigation departments of banks and lending institutions. The distressed home owner can possibly salvage their credit from this knowledge. At the very least the CRS designee will be able to help you set an action plan to hold off the wolves huffing and puffing at your front door. They could possibly save your home from foreclosure and do a short sale which is far better than a foreeclosure on your credit record. There may even be some banks who will not even ding your credit if you are not too upside down.

Remember each situation is different and the banks want to loan money not be landlords. Call your realtor today and have them discusss your options. It will undoubtedly be worth your time and investment.

La Salle County Township layout

Randy Lyon (Kettley and Company) — Fri, 17 Aug 2007 15:04:41 -0500

La Salle County is located 60 miles south and west of Chicago. The Illinois River runs through the center and makes it east to west bend and heads south to Peoria. LaSalle county was broken off from Putnam and Tazewell county in 1815. The township make up is typical 6 x 6 (actually 5 x 6) with the exception of the townships where the river runs through and smaller townships make up the north and south side of the river.

The neighbors to LaSalle county are DeKalb to the north, Lee to the northwest, Bureau, Putnam and Marshall to the west, Woodford and Livingston to the south and Grundy and Kendall to the east.

The 35 townships that make up LaSalle county are; Mendota, Meriden, Earl, Adams, Northville, Mission, Serena, Freedom, Ophir, Troy Grove, Dimmick, Waltham, Wallace, Dayton and Rutland, Miller, Manlius, Fall River, Ottawa and South Ottawa, Utica and Deer Park, LaSalle and Peru, Eden Vermillion, Farm Ridge, Grand Rapids, Brookfield, Allen, Otter Creek, Bruce and Eagle, Richland, Hope, Osage and Groveland.

New management for a long time Plano pizza restaurant

Randy Lyon (Kettley and Company) — Fri, 17 Aug 2007 00:32:00 -0500

The pizza market has steadily increased into our diet and why not it is just the epitomy of convenience food. Well the staple of pizza in Plano has for years been split between Li'l Bro Jo's and another restaurant that we will spot light at a later time.

The new Li'l Bro Jo's has fast delivery and the pizza is piping hot loaded with quality ooey gooey mazzarella and loaded with all of your favorite toppings. The recipe remains the same with a hint of rosemary and anise in the sauce. It is full bodied and sure to please. I give them a fork and a spoon rating.

Dual agency protects or trivializes agency

Randy Lyon (Kettley and Company) — Fri, 17 Aug 2007 00:21:42 -0500

Dual agency is allowed in Illinois. If a realtor shows a home (listing) where they are representing the sellers and you explain how your advertising dollars will, about 25% of the time, bring them a buyer through the listing agent. The realtor owes fiduciary responsibility to the seller but is obligated to tell the public of any latent defects in the property.

A realtor does not harm their seller if they explain to them how you will; tell them about the qualifications of the buyer but not how much a buyer is willing to pay. The seller also needs to know that should they allow you to be a dual agent that you can not tell the buyer how much you (the sellers) will accept for the home. It is also a good idea to explain how this confidentiality of personal infrmation does not go away as the home sale is completed. It last forever.

The buyer on the other hand needs to be informed of the possibility of dual agency before a realtor ever shows them a property listed by that particular realtor. If the realtor explains this up front to a potential buyer they will be a little more cautious of how they go about "negotiating" for the home. This puts the realtor, the buyer and the seller in a more favorable win-win situation.

4 bedroom 2.1 bath in club house community in Lakewood Valley ~ Aurora

Randy Lyon (Kettley and Company) — Wed, 15 Aug 2007 23:01:57 -0500

$252500 Homes for Sale in Lakewood Valley, Aurora, Illinois $252,500 (Lakewood Valley)

Details Photo Gallery View Rooms
60503-Aurora (Lakewood Valley) FOR SALE
$252,500below appraised value

Kettley and Company Realtors/ Randy Lyon Broker Associate
Kettley and Company Realtors/ Randy Lyon Broker Associate
Email Randy

Work: 630-552-9900
Cell: 630-546-8424
Fax: 630-552-8499
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2755lahinchdrive

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Details
Address: 2755 Lahinch Drive Type: Residential Style: 2 Story Bedrooms: 4 Bathrooms: 3 Suite: Yes Living Area: 1,850 square feet Year Built: 2001
More Details
Description
Welcome to 2755 Lahinch Drive in Lakewood Valley. A club house community complete with pool, playgorund, tennis courts, work out room, TV room and more. The facility has a 12 acre park and sidewalks. The home is great it is a popular Dover model but extended to include a larger family room and a 4th bedroom. This home is neutral throughout. The beige carpet is in the familyroom and living and dining room downstairs and in all 4 bedrooms the stairs and hall upstairs. The golden oak cabinets and legacy oak doors and trim complete this package.
More Description

Welcome home to the serenity of Lakewood Valley

This club house community features a pool

Montgomery real estate market report

Randy Lyon (Kettley and Company) — Mon, 13 Aug 2007 11:59:54 -0500

Montgomery continues to be a hotbed of activity as Illinois' 7th fastest growing community. The single family home market is on pace to have another very good year. Montgomery has seen 234 homes close from January 1 til August 13. The range in prices has been a low of $112,000 to a high of $360,000. The most popular home is a 3 bedroom with over 132 of the sold homes matching this category. The average price of a 3 bedroom home is $193,402 which is 98% of asking price of $198,623.

The attached or townhome and duplex market has seen 74 homes close from January 1 til today. The most popular model is a two bedroom with an average sale price of $168,320 or 98% of the $171844 asking price.

The current market has 272 single family homes and 72 attached condo, townhome, or duplexes. The least expensive attached home is a duplex listed at $147,500 and the most expensive single family is $475,000.

If you would like more information on Montgomery or the surrounding areas including the numbers broken down by subdivision. You can find more information at our website http://www.RandyLyon.com

Inexpensive Marketing ideas

Randy Lyon (Kettley and Company) — Thu, 09 Aug 2007 16:02:10 -0500

Hi fellow Kettley agents,

This week I thought we could share some ideas on inexpensive marketing ideas. Let's see how many ideas we can come up with. Also, share the amount of success you have had with each one.

I will start:

A rent vs. buy flyer cost .05 per sheet distributed by hand (take the kids for a walk and pay them a little something and deduct their wages off of your taxes) to the apartment buildings in your area. Make them fluffy enough to fit between the door handle and the door jamb. If you try and put them in the mailbox the mailman will throw them out and send you a not so nice letter.

Soccer season is starting and it is still hot out so buy a couple of cases of water put your sticker on them over the label and hand them out to the kids and parents at the soccer game. You will get to know the parents of all the kids on the team and you will be appreciated.

The next parade in town whether it be homecoming or labor day buy a couple of bags of candy and make little net bags with 3-4 mini candy bars in them and throw them out to the kids. The parents will read them when the go through their candy.

Ok what else?

Oswego in the top of Forbes Magaziine's fastest growing cities

Randy Lyon (Kettley and Company) — Wed, 08 Aug 2007 22:19:50 -0500

The numbers are in and Forbes magazine confirms that the 14th fastest growing city with a population of over 10000 is Oswego. The results compare the 2000 census results and today's estimates. Oswego has grown from 13,814 to 26,252 that is a 90% growth. North Aurora also made the list at #87 with a 36% growth and Plainfield was tops in Illinois with 133.9% growth it now boasts 31,968 residents.

Sandwich Illinois Real Estate News

Randy Lyon (Kettley and Company) — Wed, 08 Aug 2007 14:48:25 -0500

The weather certainly cooperated for the townhall meeting held by Alderman Bill McMahon in the Sandy Bluff Dutch Acres Subdivision on Sandwich's northeast side. The residents, with over 50 attendees were allowed to ask questions and voice concerns. They were promised action was gointg to be taken to have the developer finish the sidewalks before fall. The 50 plus attendees were able to meet the developer's representative of the newly proposed subdivision to the north. Moira Lucchetti who is part of the Nottingham Meadows developers team told residents they would probably start building in the spring. They originally had hoped to break ground this fall but the slow down in the real estate market has effected their decision. The first 87 lots to be developed will include homes priced between $320,000 and $400,000.

Cramer's rants on msnbc

Randy Lyon (Kettley and Company) — Tue, 07 Aug 2007 19:32:57 -0500

What is it with a name of Cramer or Kramer. The latest Cramer to go off the deep end in front of an audience was Jim Cramer from MSNBC and "Mad Money". Jim is the host of "Mad Money" and after the AFH debacle on Monday and news of the impending debacle last Friday, he tore into federal reserve chairman Bernanke. He said, and much of the media has started to portray, the housing market as "being in crisis" and painting doom and gloom. He thinks as many as 7 million homeowners will lose their homes. He is anticipating the Federal Reserve and Chairman Bernanke will sit idly by and not lower interest rates this month causing further panic.

I know that there were large mortgage companies that went out of business even in the housing boom days of 2004-05. These kinds of things happen during correction periods. I wish everyone at AFH the best and hope they all land on their feet with another lender but the panic and drama that is coming from the media is totally unfounded. Whether Bernanke and the Federal Reserve lower interest rates or not. The economy is sound jobs are increasing. The percentage of people owning homes has never been higher in the history of our country.

I want to know what the ARers think let's sound off and be heard good or bad. I look forward to your comments.

Good food and lots of it

Randy Lyon (Kettley and Company) — Mon, 06 Aug 2007 12:14:34 -0500

The best burger in all of the Fox Valley! The burgers at Angie's in downtown Somonauk are huge and flavorful. Everyone has a burger, but if you want one that you will remember then try Angie's Brick Oven Pizza in Somonauk. The burgers are cooked to order and take 25 to 30 minutes but once you receive it, it is worth the wait. You may want to share one with a friend. Why, because they are 1/2 lb. monsters loaded with cheese, bacon, mushrooms, tomato, lettuce and onion. They have a wonderful charbroiled flavor and are juicy and not overcooked. The outsides are seered and seal in all of the juices and flavor. Once you find it you'll want to come back again and again.

Home warranties good for buyers and sellers

Randy Lyon (Kettley and Company) — Mon, 06 Aug 2007 11:45:08 -0500

The home warranty market is a must for realtors and sellers. Buyers and buyers agents benefit from the peace of mind a warranty offers.

What? You ask, a home warranty is for sellers not buyers. Well the truth is most home warranty companies today offer the seller a warranty should something go wrong during the listing period. The warranty is not paid until closing and if the seller's home does not close. The seller does not pay for a warranty even if a claim is filed. Check with your home warranty company to to receive the details of how the warranty protects the seller today and everyone including the buyer and the agents later on.

	Kettley and Company Realtors/ Randy Lyon Broker Associate

	Kettley and Company Realtors/ Randy Lyon Broker Associate Email Randy Work: 630-552-9900 Cell: 630-546-8424 Fax: 630-552-8499
More Photos(36)
2755lahinchdrive

Quick Links
Quick Links
Virtual Tour	Request More Info	Email Listing	More Photos(36)

	Details


Address: 2755 Lahinch Drive Type: Residential Style: 2 Story Bedrooms: 4 Bathrooms: 3 Suite: Yes Living Area: 1,850 square feet Year Built: 2001 More Details

	Description


Welcome to 2755 Lahinch Drive in Lakewood Valley. A club house community complete with pool, playgorund, tennis courts, work out room, TV room and more. The facility has a 12 acre park and sidewalks. The home is great it is a popular Dover model but extended to include a larger family room and a 4th bedroom. This home is neutral throughout. The beige carpet is in the familyroom and living and dining room downstairs and in all 4 bedrooms the stairs and hall upstairs. The golden oak cabinets and legacy oak doors and trim complete this package. More Description