Gambino Realtors Home Guide: Volume Three Issue Ten 2022

- Ron Kaufman

This month’s quote comes from Ron Kaufman who is a columnist at Bloomberg BusinessWeek. He is also the author of 15 books on service, business, and inspiration.

In today’s society, information comes to us from every direction. Some of us select news sources based on our preference toward a particular point of view. Our phones and social media even know what we are thinking and presents us with advertising based on what is known about us. With so many controlled messages vying for our attention, how do we determine which to accept, and which to reject?

I believe that the time-honored approach of asking our friends and neighbors for a recommendation is by far the best way to separate the hype from the facts. When a trusted friend tells you about their positive experience with a business, you are very likely to enjoy that same experience as well.

Over the years, a number of web sites have sprung up that receive and publish feedback from recent customers. One that comes to mind is Trip Advisor. Before booking a vacation destination, many of us now consult Trip Advisor on whether the destination has positive reviews.

Gambino Realtors is proud of our brokers and we ask clients for honest feedback. Those responses are published for you on our company website, GoGambino.com.

Before your next real estate transaction, I invite you to look at what past clients say about their experience. As our quote this month states, a testimonial not only describes what has been, but is also a promise of what is to come.

GAMBINO REALTORS

Jonathan R. Krause, President Gambino Realtors

HOME GUIDE ISSUE TEN | 2022

VOLUME THREE

Publisher: Gambino Realtors

Editor: Kathy Heeren-Ellis

Design: Sarah E. Diamond

The Gambino Home Guide is a presentation of properties for sale in the Northern Illinois region. Since 1923, Gambino Realtors has navigated buyers and sellers through real estate transactions www.GoGambino.com

3815 N. Mulford Road Rockford, IL 61114 815.282.2222

5330 Williams Drive Roscoe, IL 61073 815.623.3333

"Testimonials describe what has been and are a promise of what is to come."

How to Prep Your Home For Sale This Season

Today’s housing market is different than it was just a few months ago. And if you’re thinking about selling your house, that may leave you wondering what you need to do differently as a result. The answer is simple. Taking the time upfront to prep your house appropriately and create a solid plan can help bring in the greatest return on your investment.

Here are a few simple tips to make sure you maximize the sale of your house this fall.

1. Price It Right

One of the first things buyers will notice is the price of your house. That’s because the price sends a message to home shoppers. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer. On the flip side, pricing your house too low may make buyers worry there’s some underlying issue or something wrong with the home.

Your goal in pricing your house is to gain the attention of prospective buyers and get them to make an offer. And with price growth and buyer demand moderating, as well as a greater supply of homes available for sale, pricing your home appropriately for where the market is today has become more important than ever before.

But how do you know that perfect number?

Pricing your house isn’t a guessing game. It takes

“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market..."

skill and expertise. Work with a trusted real estate advisor to determine the current market value for your home.

2. Keep It Clean

It may sound simple but keeping your house clean is another key to making sure it gets the attention it deserves.

As realtor.com says in the Home Selling Checklist: “When selling your home, it’s important to keep everything tidy for buyers, and you never know when a buyer is going to want to schedule a last-minute tour.”

Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any clutter. Doing these simple things can reduce potential distractions for buyers.

For more tips, use the checklist (page right) for preparing your house for sale. Ultimately an agent is your best resource for tailored advice, but this list can help get you started.

3. Help Buyers Feel at Home

Finally, it’s important for buyers to see all the possible ways they can make your house their next home. An easy first step to create this blank canvas is removing personal items, like pictures, awards, and sentimental belongings. It’s also a good idea to remove any excess furniture to help the rooms feel bigger and make sure there’s ample space for touring buyers to stand and look at the layout.

If you’re unsure what should be packed away and what can stay, consult your trusted real estate advisor. As a recent article from the National Association of Realtors (NAR) explains:

“Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your market. The right arrangements can move you into a higher price-point and help buyers fall in love the moment they walk through the door.”

Selling a house requires prep work and expertise. If you’re looking to sell your house this season, let’s connect so you have advice on how to get it ready to list, how to help it stand out in today’s shifting market, and more. Call Gambino Realtors at 815.282.2222.

This lovely home reflects the signature style of prominent architect Jerome Cerny. Widely known for his European designs, one can see trademark details throughout. A winding private drive brings you to a picturesque setting. Among the many amenities, you will find volume ceilings, hardwood floors, bay windows, intricately designed millwork, grand fireplaces and built-ins throughout. Upon entering, you are greeted by a grand foyer, setting the stage for the rare features and styling in every room. Combining formal and informal spaces, the main floor features

a sunken living room, a gracious formal dining room, and a great room that looks out onto the sun-lit solarium. A beautifully appointed kitchen connects to a combination mudroom, main floor laundry, and one of two half baths on the main floor. Closet space and storage are abundant, including a framed attic. The design is brilliant and lends itself to a multitude of living arrangements depending on your needs. Though private and secluded, it is ideally located convenient to area amenities and US -20.

Karl Gasbarra

815.975.4218 karl@GoGambino.com

2880 S. Paddock Road

Beloit, Wisconsin

$825,000

5 BD | 3/1 BA | 4,520 SQ FT

Judy Clossey

815.623.4007

2513 Lundgren Road

Pecatonica

5 BD | 4/2 BA | 8,867 SQ FT

3 BD | 2.1 BA | 2,100 SQ FT

$399,900 Ginny Meyer 815.262.8082

2079 Merrick Drive

Caledonia

$398,000

4 BD | 2.1 BA | 3,770 SQ FT

Team Lunde 815.985.9522

This Victorian home with four floors and five fireplaces is an entertainer's dream. Enjoy modern amenities amid the preserved history. With so many attributes in this home, the chef’s kitchen is a delight. It has a commercial hood and cooktop, pot filler, a warming drawer, side by side commercial freezer and fridge, loads of cabinets with pullouts, upper lit glass display cabinets, 10-foot center marbled quartzite island with prep sink and seating, updated quartz counters, and marble backsplash. Large den with accordion French doors joins withe original parlor with fireplace. Massive front staircase with stain glass window leads to four bedrooms on upper level with two guest baths. This is the perfect home for entertaining guests.

Kathy Heeren-Ellis 815.708.4061 kheerenellis@GoGambino.com

1201 Brown Hills Rd | Rockford

surroundings.

impeccably cared for three bedroom, two bath ranch offers a spacious kitchen

a slider to a deck overlooking the 11.26 acres of beautifully treed land.

flooring welcomes you to the living room with a bowed window letting natural light

a sizeable rec room and an office conveniently located in the spacious floor plan for those who work from home.

many entertaining areas within the house

the grounds.

the benefits

including being zoned agricultural, a heated twoand-a-half car garage, a 36

property

50 outbuilding, a garden shed, a low tax rate,

an excellent location in the Rockton/Hononegah

Stunning home completely renovated and move-in ready. Your dream kitchen features stainless steel appliances, double oven, and a tenfoot granite island with cooktop. Kitchen opens to the breakfast area, formal dining room, large deck, and living room, all of which have views of the dense woods. This floor plan features a first floor laundry, office or den, and private guest room. The second floor boasts four bedrooms, three full baths, and a second laundry room. Master suite has vaulted ceilings, large walk-in closet, a soaking tub, tile shower, and double bowl sink. The fully finished lower level features a rec room with a wet bar and counter, a full bathroom, and the sixth bedroom, which has a large sitting room attached - perfect for a motherin-law suite or teen. This beautiful home has a new concrete drive, new roof, new stonework, new vinyl siding, soffit, fascia, and gutters. Enjoy the outdoors from your elevated deck and grade-level brick patio. Close to shopping, I-90, and dining.

Donya Bundy 608.295.5181 dbundy@GoGambino.com

Park

well-appointed ranch has all the luxuries of a five-star resort. The expansive, relaxing deck features a pergola with ceiling fans and lights. Take a dip in the heated pool after dinner on the deck. Beautiful eat-in kitchen with stainless appliances and a huge center island. Open vaulted great room and dining room. Master with spacious en suite with whirlpool tub. Hand-scraped Acacia wood floors elevate the look throughout. The lower level features three additional bedrooms with egress windows, a full bath, a rec room, and a generous theater room. The fenced one acre(+/-) landscaped yard is a joy through all seasons. Many updates have been done, including a new roof in 2020, a 96-efficiency furnace in 2020, central air in 2015, a water heater in 2021, a leaf guard gutter system in 2021, and sump and lift pump in 2022. Hobbies and toys are no issue with the heated garage with 10' ceilings and an 18x8 door.

Beautiful two-story, one owner home with easy access to I-90 is waiting for you. As you enter, the foyer and living room are lit up with natural light coming through the several large windows near the top of the twenty foot ceiling. Next to the den is the family room with fireplace that flows into the kitchen. From there you can step out onto the two-tier deck and look over the playground that is your back yard, including a firepit and above ground pool with yet another deck! This home is an entertainer's delight.

Brandy Berg

815.289.0328

Besides being one of the nicest humans I've ever met she's the absolute BEST realtor I've ever worked with. Not the first house I have sold a home but the first time I've ever had a realtor that really knew what she was doing and was with me from beginning to end letting me know what was going on! Selling my home was a breeze with Brandy! If I ever was selling a home again she's the one I'd go with for sure!

- M. Markiewicz-Roos

Mike Weerda

Mike listens and was very attentive to the process. He offers advise, schedules appointments, had a wonderful online presence and prepared a wonderful booklet that showed my home in a great light. I highly recommend Mike for all your buying and or selling needs. - Susann S. 815.985.2895

Cheryl Jacobs

Cheryl is the absolute best realtor and friend. She made me feel so comfortable and at ease through the entire process. She answered all my questions with professional advice! I will recommend her to everyone I know! - Sue

Gonzalo Montoya

Gonzalo did a wonderful job on listing and showing my home. Thank you so much as I am well pleased. - Charles C.

7547 Haymaker Lane

Cherry Valley

$289,950 Brent Hammack 815.509.5101

3 BD | 2 BA | 1,648 SQ FT

7149 Golden Eagle Drive

Loves Park

4 BD | 2/1 BA | 2,535 SQ FT

$279,900

$285,000 Stefanie Yarber 815.995.0836

3 BD | 2 BA | 1,853 SQ FT

1510 Conlin Court

Belvidere

Welcome to the desirable Meadow Crest Subdivision! Spacious two-story sparkles throughout. Oak hardwood floors and natural sunlight adorn this home. Formal living and dining rooms. Beautiful combo family room open to kitchen with all stainless appliances and new dishwasher. First floor laundry conveniently located. Master bedroom with walk-in closet and ensuite with double sinks. Additional three bedrooms are light and oversized. Huge 20x30 deck overlooks the half acre, fenced yard. Roscoe/ Hononegah School District. Great location. Easy access to I-90.

$285,000 Aimee Leon 815.516.7879

4 BD | 2/1 BA | 2,402 SQ FT

Cheryl Jacobs 815.494.4956 cjacobs@GoGambino.com

530 Pin Oak Road | Rockton

a spacious layout perfect for relaxing at home or gatherings.

four sizeable bedrooms and three full baths, this home is move-in ready. Enjoy an evening by the wood-burning stove in the family room after you’ve made an excellent meal in the kitchen with a dining area. Retreat to the sunny Florida room for a peaceful morning with a cup of coffee. The master and the laundry are located on the first floor. The partially exposed lower level is complete and features many windows to create a bright and airy atmosphere.

outdoors on the brick paver patio amid the beautiful landscaping and large lot. The attached two-and-ahalf-car garage offers lots of space for storage and toys.

Here is your rare opportunity to call a beautiful home yours in the Pine Ridge Subdivision! This four bedroom, three bath home has a main floor master with walk-in closet, beautiful gas fireplace, eat in kitchen and a loft room upstairs that can be a great space for an office or play area. This house sits on over an acre of land, with invisible fence and dog run, and access off N. State Rd. Enjoy the benefits of low county taxes, and the ability to have outbuildings. Genoa-Kingston schools.

This spectacular, well-constructed, all brick, 2,200 square foot ranch is ready for you to make it a home. In perfect condition, you will find hardwood floors, a beautiful stone

and newer appliances in the kitchen. The current owner has already provided you peace of mind with new windows and doors, a newer driveway, newer water heater, and water softener. You can move in and enjoy the light and bright layout and spend time

the covered patio within the private yard nestled on a half an acre.

Waterside Center 126 North Water Street Rockford, IL 61107 815.964.9800

Mulford Office 1235 North Mulford Road Rockford, IL 61107 815.227.9800

Roscoe Office 4908 Hononegah Road Roscoe, IL 61073 815.623.3400

Belvidere Office 417 South State Street Belvidere, IL 61008 815.544.2222

Prepare to be wowed by this 2,500 square foot, split bedroom, beautifully maintained ranch on a quiet cul-desac. Enjoy the views of the gorgeous yard from your two-tiered deck. The open floor plan features solid hardwood floors, vaulted ceilings, and counter upgrades. Wood burning, sleek fireplace in the great room for those cool evenings. Fully equipped eat-in kitchen with granite, tile backsplash, glass shelves, all stainless appliances, plus a walkin pantry. Huge first floor laundry room. The recently updated full bath is spectacular. Spacious master with significant updates, including a walk-in shower and heated tile floor. Beautifully landscaped yard with babbling brook water feature, playhouse, and firepit. The roof, skylights, gutters, and siding were updated in 2020. Central air 2021. Furnace 2015. Partially exposed lower level with rough-in is ready for you to create your dream space. Excellent location in the Winnebago School District and low tax district.

Cheryl Jacobs 815.494.4956 cjacobs@teamlunde

Super sharp ranch with curb appeal galore and packed with pizzazz. Almost a half-acre tucked away on the edge of Rockton yet close to conveniences. Open floor plan with gourmet kitchen, dining area, and gathering room. Tons of granite, stainless appliances, custom soft close cabinetry throughout the home, and walk-in pantry. Master bedroom with walk-in closet, luxury bath with quartz counters. Bonus room adjacent to the hot tub room with sliders to the deck and privacy fenced yard with pool.

convenience with a country flair. A stunning, open concept that features the kitchen of your dreams welcomes you and your guests to gather around the huge granite island. The kitchen features stainless appliances, granite countertops, and stylish white cabinets. The masterful kitchen flows into a cozy living room

a wood-burning fireplace. Three bedrooms and two full bathrooms create opportunistic spaces for entertaining, relaxing, and privacy when you desire. The master bedroom boasts a walk out to the den featuring sliders to the deck and an expansive wooded back yard where a bonfire gettogether is ideal on those cool fall evenings. This home has so much to offer the new owner.

951 Goosedown Drive

Roscoe

$225,000

3 BD | 3 BA | 3,292 SQ FT

Pat Bellinghiere 815.871.1745

801 Coolidge Place Rockford

4 BD | 2 BA | 2,913 SQ FT

$220,000 Jean Campbell 815.505.8336

5 BD | 3/1 BA | 3,464 SQ FT

177 Biester Drive

Belvidere

Charm and character galore in this spacious, all brick ranch on a double lot. 2,188 square feet on the main level. Kitchen has granite and stainless appliances. The bathrooms are updated. Hardwood floors in the bedrooms and dining room create a clean and modern aesthetic. Laundry is located on the main level. All windows and exterior doors have been replaced. Enjoy your fenced yard from the huge patio. The spacious lower level includes a rec room with wood burning fireplace.

$215,000 Claudia Hernandez 815.262.7472

4 BD | 3 BA | 2,300 SQ FT

Karen Barbagallo 815.988.5577 kbarbagallo@GoGambino.com

1206 Lundvall Avenue | Rockford

VICTORIAN

Jackson Street | Pecatonica

Welcome home to this 1857 masterpiece with deep overhanging eaves seemingly supported with rows of corbels, tall arched windows on 3+ acres backing up to Prairie Path. Amazing distinguished architectural details inside and outside. Grand pillared front porch, gracious foyer with open staircase, and walnut railing. Mostly 12' ceilings and hardwood floors on main level. You will find wide, deeply-molded woodwork, wide baseboards and lovely arched windows with window seats throughout the home. Family room, formal parlor, and dining room. Country kitchen, chair railing, and original cupboards. Unfinished summer kitchen off main kitchen waiting for your final touches. Second floor boasts refinished pine flooring, four spacious bedrooms with lots of windows, bath, sunroom, and library. Great property that exudes privacy.

6106 Basin Drive

Loves Park

$215,000 Barb Urycki 815.505.2064

4 BD | 2 BA | 2,444 SQ FT

2453 Kristi Lane Rockford

$207,900

3 BD | 2/1 BA | 1,664 SQ FT

Linda Elliott 815.988.8954

3 BD | 2 BA | 1,600 SQ FT

1315 James Avenue Rockford

$207,400

3 BD | 3 BA | 2,449 SQ FT

John Weiland 815.494.6214

Spacious three bedroom, two bath ranch! Large great room with cathedral ceiling, wood burning fireplace, and wood flooring. Kitchen with eating area and stainless appliances. Sliders to light-filled sunroom with its own heating and cooling. Master bedroom suite is gracious in size. Lower level ready for new owner to finish to their liking. Attached two car garage and a 24x30 outbuilding with separate driveway for all your storage needs. Located on ¾ acre of land with county taxes. Many updates throughout the years.

David Palmer 815.566.2437 dpalmer@GoGambino.com

8352 Towermont Drive | Rockford

YUMMY

by Gambino

EASY CARAMEL APPLE TART

Presented by Kathy Heeren-Ellis

This dessert is ready in just 30 minutes! Need a quick dessert to take to a work or family gathering? This has just five ingredients. To garnish use additional dulce de leche and drizzle across the top. Crushed nuts could be added for a taffy apple twist.

INGREDIENTS

1 can (8 oz) refrigerated tube crescent roll sheet or 1 can (8 oz) refrigerated crescent rolls 8 count

1 tablespoon butter

4 cups sliced peeled apples (3 medium)

1/3 cup sugar

3/4 cup (from 13.4-oz can) dulce de leche (caramelized sweetened condensed milk)

INSTRUCTIONS

Heat oven to 375°F.

Spray cookie sheet with cooking spray; unroll sheet onto cookie sheet. Press into 12x9-inch rectangle. If using crescent rolls, press seams together. Bake 10 to 13 minutes or until golden brown.

Meanwhile, in 10-inch nonstick skillet, cook butter, apples and sugar over medium-high heat 6 to 8 minutes, stirring frequently, until apples are just tender.

Spread 1/2 cup of the dulce de leche onto warm crescent crust, leaving 1/2-inch border; carefully arrange cooked apples in single layer over top.

In small microwavable bowl, microwave remaining 1/4 cup dulce de leche uncovered on High 10 to 20 seconds or until thin enough to drizzle. Using fork, drizzle over apples. Serve warm.

Dulce de leche is similar to sweetened condensed milk, but it has been caramelized and is much thicker and is caramel in color. It can be found in the grocery store near the sweetened condensed milk or Hispanic food section.

Honeycrisp apples were used in this recipe; choose your favorite baking apple, such as McIntosh, Braeburn or Granny Smith.

home in an excellent area near Sinnissippi Golf Course

Anderson Gardens. Step into the charming living room, where

will find the comforts of a wood-burning fireplace and bay windows. A formal dining room creates a beautiful space for dinner with family and friends. Enjoy your morning coffee in the sunroom

the three-season porch. The kitchen boasts an eating area.

master bedrooms, and the additional bedrooms are spacious.

hardwood floors are beneath the carpet. There is a stairway to the attic for possible expansion. They don’t make them like this anymore. See the charm and beauty for yourself.

Waterfront Tudor on the Kishwaukee River! Priced below assessed value. You can put in TLC and make it your little slice of paradise on 1.24 acres. Large room sizes. Some new flooring. Big garage for storage and toys.

Jill Jarek | 815.621.5255

Welcome to this four bedroom, two bath bi-level with over 2,500 square feet of living space. Hardwood floors and two fireplaces. Formal dining area. Finished lower level. Two car heated garage. Large fenced back yard.

Mark Fiorello | 815.670.4129

Enjoy a 100 feet river frontage with no flood insurance required. Plenty of room with for all of your toys with the six car, 1,500 square foot garage with 11 foot ceiling. This property is an excellent river front find.

Keith Ruiz | 815.985.0870

Great room open to kitchen and eating area with island, new cabinets, appliances, and quartz tops. Master with custom shower. Lower level family room and half bath. New windows on main level. New central air and flooring.

Frank Gambino | 815.637.0113

Formal living room with possible eating area. Large kitchen recently updated. Newer floors in kitchen and family room, plus hardwoods in bedrooms. Lower level rec room and additional room. Great location!

Mikhaele Howell | 815.871.6787

Three bedrooms, two baths ranch with oversized family room sitting on 1.18 acres which gives you lots of outdoor space to roam and play. Main floor master. Bring all your updating ideas to make this home yours today.

Kevin Fisher | 815.494.9595

Barley Ridge Trail

Cherry

Eaton Drive

Rockford

Meander Drive

Rockford

Lincliff Drive

Rockford

1607 Jillian Court | Belvidere

12742 Ventura Boulevard | Machesney Park

Park

move-in

in prime Loves Park location in the Harlem School District.

hardwood floors throughout the living room and bedrooms. The kitchen and bathroom boast luxury vinyl plank flooring with a scratch-tone finish. Stainless appliances include a stove, refrigerator, microwave, washer, and dryer. The large family room with lots of natural light has a fireplace and a heated ceramic tile floor. Three bedrooms, including the master, complete the main level. The partially finished basement adds entertaining space. The house has a built-in vacuum cleaner system.

constructed cedar front deck and a large, fenced back yard with a patio to enjoy the outdoors.

Ranch home with formal living room, family room with gas fireplace, and finished retro basement on almost a half acre. Dining area overlooks large yard with huge deck. Nice sized master with attached bath.

Ann Brady | 815.298.4683

This gorgeous home has so much to offer! Secluded with many trees. The yard is sure to be a relaxing destination. The home features the perfect amount of space with roomy kitchen and dining areas! A large garage.

Chrissy Dawson | 815.985.5649

Harlem Schools! Quiet, cul-de-sac location with a two car garage with ramp. Sliders to three-season room. Access to deck to enjoy nicely landscaped, private yard. Basement ready for your decorating ideas.

Ginny Meyer | 815.262.8082

Freshly painted main floor in 2022. Kitchen with lots of cabinets and open to dining area, and family room with fireplace. Master with updated bath. Large lower level rec room with second kitchen. Close to I-90/39/20.

Ginny Meyer | 815.262.8082

On a large lot with green space. Living room has wood laminate floor. Kitchen and dining area has sliders leading to deck. Finished lower level has rec room, bonus room and full bath. Large three car garage.

Angie Leiva | 815.742.6010

You have to come see this three bedroom, brick ranch home. Amazing brick wall fireplace ready for those chilly days. Finished basement with second kitchen and bar. Great central location and neighborhood.

Tony Badaluco | 815.988.4190

Heidi Drive

Golden Prairie Avenue

Drive

Rockford

Toft Street

Rockford

131 SE Liverpool Drive | Poplar Grove 1013 Tamworth Drive | Machesney Park

Exceptional ranch home, full of sunlight and located on over a half-acre in the highly desirable Nottingham Manor Subdivision. This marvelous home offers three bedrooms, two full bathrooms, and a recently finished basement. Walk into the light and bright living room with a beautiful bay window. The eat-in kitchen features freshly painted, on-trend cabinets, stainless appliances, and a vast skylight to keep the sunlight and good vibes flowing. You will find an extremely cozy den with a whitewashed fireplace just off the kitchen. Adjacent to the den is an impressive sunroom which also includes skylights. Walk out of the sunroom to the enormous, fenced back yard where you can take in the sights of the picturesque garden pond. The owner replaced the roof in 2020 and the water heater in 2022. Come see this move-in ready home with low county taxes today.

Jessica Tabor 815.980.1879 jessicat@GoGambino.com

charming

bedroom ranch. The sunfilled kitchen is well equipped with granite countertops, ample cabinets for storage, stainless appliances, a bay window, and a breakfast nook. The living room features a floor-to-ceiling fireplace as a beautiful focal point. The hardwood floors run through the dining room and all main floor bedrooms. The bathroom is updated. There are multiple spaces for enjoying your large yard, including the deck, patio, and gazebo. The two-car garage has an attached workshop or storage area.

current owner has lovingly cared for this home and replaced the central air in 2022, the furnace in 2010, the siding in 2018, and the roof in 2013. All the big things have been done so you can move in with peace of mind.

722 Hawthorne Avenue Rockford

$129,900

3 BD | 1 BA | 1,750 SQ FT

Matt Koch 815.543.7945

3421 Louise Street Rockford

$127,900

3 BD | 2/1 BA | 1,552 SQ FT

Jackie Tabor 815.520.6134

3 BD | 1 BA | 1,524 SQ FT

Recently updated three bedroom, one bath, one and a half story home with so many great features. Spacious family room, brick fireplace, hardwood floors, screened porch, maintenance free exterior and fenced yard. New kitchen with stainless appliances. Updated bath. New furnace, central air, gutters, roof, electric service, garage door and opener. Newer vinyl windows and water heater. Don’t miss this! So many updates - all you need to do is move in.

4814 Ottawa Road Rockford

$124,900

2 BD | 1/1 BA | 1,550 SQ FT

Judy Clossey 815.623.4007

Frank Gambino 815.637.0113 fgambino@GoGambino.com

$124,900

2019 Douglas Street | Rockford

THE IMPACT OF RISING MORTGAGE RATES

Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans.

As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works.

Let’s assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500).

If you’re trying to shop at that price point and keep your monthly payment about $2,5002,600 or below, here’s how your purchasing power can change as mortgage rates climb (see chart below right). The red shows payments above that threshold and the green indicates a payment within your target range.

As the chart shows, as rates go up, the amount

you can afford to borrow decreases and that may mean you have to look at homes at a different price point. That’s why it’s important to work with a real estate advisor to understand how mortgage rates impact your monthly mortgage payment at various home loan amounts.

Are Mortgage Rates Going To Go Down?

The rise in mortgage rates and the resulting decrease in purchasing power may leave you wondering if you should wait for rates to go down before making your purchase. Realtor.com says this about where rates could go from here:

“Many homebuyers likely winced . . . upon hearing that the Federal Reserve yet again boosted its shortterm interest rates by three-quarters of a percentage point—a move that’s pushing mortgage rates through the roof. And the already high rates are just going to get higher.”

So, if you’re waiting for mortgage rates to drop, you may be waiting for

a while as the Federal Reserve works to get inflation under control.

And if you’re considering renting as your alternative while you wait it out, remember that’s going to get more expensive with time too.

As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), says:

“There is no doubt that these higher rates hurt housing affordability. Nevertheless, apart from borrowing costs,

rents additionally rose at their highest pace in nearly four decades.”

Basically, it is true that it costs more to buy a home today than it did last year, but the same is true for renting. This means, either way, you’re going to be paying more. The difference is, with homeownership, you’re also gaining equity over time which will help grow your net worth. The question now becomes: what makes more sense for you?

Hunters Run

is condo living at its finest. Welcome to this fabulous 2,300 square foot condo with vaulted ceilings and hardwood floors. The gracious layout includes a large and bright living room with a fireplace.

kitchen boasts granite, stainless appliances, and lots of cabinet space. Off the kitchen, the sunroom is an excellent space for relaxation and views of the yard. The main floor bath has double sinks and a skylight. The laundry is conveniently located on the main floor. Cork flooring in all three bathrooms. A sizeable brick patio provides additional entertaining space. The lower level includes a rec room and two rooms that could be used for many purposes, including a home office. This condo checks all the boxes with a security system, additional guest parking, a pet-friendly association, and a private location on a cul-de-sac.

Drive

Loves

Lovely condo with open living, dining, and kitchen. Your eye will be attracted to the warm and rustic reclaimed wood focal wall with gas fireplace for cool fall and winter nights. The impressive cathedral ceiling adds to the airy feeling of this stylish home. The main living area has bamboo floors. Enjoy the deck for a BBQ or watch the sun set. The kitchen boasts stainless appliances, a breakfast bar, and pantry. The large master has a walk-in closet and updated bath. Great location close to shopping and highway. Enjoy the ease of condo living.

Farm

organic herbs

for over

been

years

base covering much of Northern Illinois and Southern Wisconsin.

a

farm is known to its many visitors as a unique setting

weddings, events, and for stays in the guesthouse thru Airbnb or

There are two houses: a magnificent Victorian with over 4,000 square feet is currently used as the owner's residence, and a separate, private two story guesthouse operates as a popular vacation rental.

Agricultural, a special use permit makes this all possible with little restriction.

houses, three barns, numerous outbuildings, a 60

90 indoor riding arena, three pastures, two paddocks, loafing shed, chicken coops, and a hog house, the potential for income has barely been tapped. This is a turnkey business with the potential for substantial growth in a beautiful, peaceful, and private setting.

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DREAMS SINCE

PLANS

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BUILDS

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ESTIMATE

WHY YOU SHOULD CONSIDER BUYING

The historically low inventory over the past few years led to challenges for many buyers trying to find a home that met their needs and their budget. If you’re in the same boat, you should know the recent shift in the housing market may have opened up doors for you to restart your search.

The inventory of homes for sale has increased this year, and that’s giving buyers much needed options.

As Danielle Hale, Chief Economist at realtor.com, says:

“. . . today’s shoppers have more than 5 homes to consider for every 4 they had at this time a year ago.”

But perspective is important. Overall, housing supply is still low. If you need even more choices, expanding your search by adding additional housing types, like condominiums, could help.

Exploring Condos Could Add Options That Fit Your Budget

One thing to consider is condos generally differ from single-family homes in average space and floorplans. But that size difference is one reason why condos can be a more affordable option. According to a recent report from realtor.com, condo buyers paid roughly 7% less for their home than buyers of other housing types last year. With rising mortgage rates and home prices, the relative affordability of a condo could be worth considering.

Remember, your first home doesn’t have to be your forever home. The important thing is to get your foot in the door as a homeowner. Buying a condo now can springboard you into a bigger home later on. An article from the Urban Institute explains:

“Because condos and co-ops are generally more affordable, they tend to help first-time homebuyers step onto the first rung of the homeownership ladder. These buyers often use the equity on their condo to then purchase a larger single-family home.”

In other words, owning a condo will help you start building wealth in the form of home equity. In time, the equity you build can fuel a future purchase should you decide you want to buy a home with more space or different amenities.

Condo Living Provides Several Great Perks

Boosting the number of options in your budget during your home search is just one reason to consider condos, but there are several other benefits to condo living.

First, they tend to require minimal upkeep and lower maintenance – and that can give you more time to spend doing the things you enjoy. A recent article from Bankrate highlights this, saying:

“Condos can be a good option for anyone who wants to keep home maintenance to a minimum . . . if the roof is leaking or the carpet in the lobby needs to be replaced, that’s not your responsibility — the condo association handles those duties.”

Plus, since many condos are located in or near city centers, they offer the added benefit of being in close proximity to work and leisure. Again, realtor.com explains:

“Buying a condo, which is generally less expensive than a single-family home, enables a household to afford to own in the middle of it all, and often means a newer-built home with less maintenance responsibility.”

Ultimately, owning and living in a condo can be a lifestyle choice. And if that appeals to you, they could give you the added options you need to buy your first home.

Adding condominiums to your housing search could be a great move. If you’re ready to search condos in our area, let’s connect today. Contact Gambino Realtors at 815.282.2222.