GAMBINO REALTORS THE COLLECTION
JULY 2019
ROSCOE
Welcome to the July issue of The Collection! As you gear up for summer, feel free to be inspired by our homes with waterfront footage or pools that entice those inner summer feelings all year long. Explore our feature homes in this summer
ROCKFORD
edition while finding out why it is an excellent time for Gen X to search for that dream home and gain insight as to why the mortgage process comes with so much paperwork. Cordially, Jonathan R. Krause, CRB President JKrause@GoGambino.com
ROCKFORD
THE COLLECTION Only Gambino Realtors places your home directly in the email inbox of 62,500 homeowners with a household income of $250,000.00 or more. Our reach through this luxury pulbication covers Winnebago, Boone, McHenry and Kane Counties in Northern Illinois.
815•282•2222 www.gogambino.com
DURAND
ROSCOE
TIME FOR YOUR DREAM HOME GEN X! During the housing market crash, Gen X homeowners lost more wealth than other generations. However, things are changing now! A strong economy, increasing home prices, and the recovery of the housing market are helping this generation to regain their lost wealth. According to Pew Research Center, “Their fortunes have rebounded more than those of other generations during the post-recession economic expansion and as home and stock prices have risen. Since 2010, the median net worth of Gen X households has risen 115%. In fact, in 2016, the most recent year with available data, the net worth of a typical Gen X household had surpassed what it was in 2007 ($84,200 vs. $63,400)”. The same report also mentioned, “15% of Gen X’s homeowners were ‘underwater’ on their homes in 2010 (meaning they owed more than they owned). By 2016 only 3% were underwater.” As a result of homes regaining market value and their increasing net worth, many Gen Xers are presented with the opportunity of selling their current home in order to move up to the house they always dreamed of ! According to the 2019 Home Buyers and Sellers Generational Trends Report by the National Associations of Realtors, in 2018 Gen Xers made up the second largest share of home buyers by generation at 24%. The report also provided some highlights about their purchase: • Greatest share that purchased a multi-generational home (16%). • Largest share that purchased a detached single-family home (88%). • Highest median household income ($111,100). • Bought the most expensive homes of all the generations. • Job-related relocation was identified as the primary reason to buy. But this generation is not only buying- they are selling too! • Largest share of home sellers (25%). • Highest median household income among sellers ($123,6000). • Tenure in the previous home was a median of 9 years. • House too small was indicated as the primary reason to sell. • 91% sold the home using a real estate professional. If you are a Gen Xer who would like to know exactly how much your house is worth today so that you can move up to the home of your dreams, contact Gambino Realtors who can help you analyze your current circumstances.
PEACEFUL OASIS $695,000.00 Retreat to peaceful privacy on 25 acres of wooded lands complete with a beautiful creek in this nearly 7,000 SQ FT home. The spacious layout includes six bedrooms, four and a half bathrooms, and a four-car garage. Relax in the gathering room with a vaulted ceiling and a quiet library suspended over a stunning Koi pond. The screened porch boasts a cozy layout for enjoying a good book and a cup of coffee. Extensive views of nature abound throughout this oasis that has been meticulously maintained. Entertaining is a breeze with two kitchens and multiple family areas. Revel in the seclusion and peacefulness or enjoy an adventure by way of the Chicago rail conveniently located close by.
8629 Secret Way • 7,000 (+/-) SQUARE FEET • 6 BEDROOMS • 25 ACRES • NEAR CHICAGO RAIL
Gary Woodhouse 815|262|5338 Contact View Full Listing for Details
CONTEMPORARY ABODE $549,700.00
Escape to a unique wooded oasis in the center of town. You won’t think you are in Rockford. Travel down the winding lane surrounded by soaring trees to find the beautiful residence carefully designed to meld the house and grounds together. The Frank Lloyd Wright inspired home features contemporary, simple lines. Everything is designed for no obstruction, so you see nature from every angle. Keith Creek winds thru the property which has also been expertly landscaped. So much beauty to enjoy. Attractive features such as twelve-foot ceilings, walls of windows, maple hardwood, cherry cabinetry, granite counters, Jenn Air appliances, main floor master, and laundry. A covered deck with tile flooring allows you to enjoy the views in all weather. The lower level is all exposed with family room, full bath, office, and two bedrooms. Flexible floor plan adapts to all stages of life. Enjoy the comforts of durable concrete composite siding and quality construction thru out. Plenty of room to explore and entertain in this 3,388 SQ FT on 2.33 acres of paradise just minutes from all the amenities you could need.
1730 Nor th Mulford Road • 3,388 SQUARE FEET • 12 FOOT CEILINGS • WINDING CREEK • MAIN FLOOR LAUNDRY
Pam Cunningham 815|289|6323 Contact View Full Listing for Details
PICTURESQUE OASIS $450,000.00
The pictures tell the story of this stunning custom home located in one of Rockford’s Regent Park subdivision. Over 5,000 SQ FT of quality on a beautiful, professionally landscaped, wooded lot. This setting sets the stage for all this home has to offer. Recent upgrades and improvements include a new roof, Pella glass windows, heating and air, water heaters, asphalt driveway, and Leafx gutter guards making this home worry free for years to come. Enjoy the two-level deck plus screened gazebo looking into the woods, creating the perfect setting for outside enjoyment and entertaining. The fully finished lower level includes a bedroom, bathroom, rec room, game room, and full walkout. Escape to the master suite complete with a fireplace and fantastic bath that you’ve only dreamt about. Retreat to the private den or study with fireplace to work or relax with a good book. The superb granite kitchen opens to a spacious family room. Winding stairs from the kitchen to the bedrooms is just one of the amenities this home offers. Find convenience in the main floor laundry, and an oversized three car garage with a Polytek coated floor.
5027 Regents Park Road • 5,000 (+) SQUARE FEET • TWO LEVEL DECK • PROFESSIONALLY LANDSCAPED • HOT TUB
Keith Ruiz 815|985|0870 Contact View Full Listing for Details
COUNTRY STYLE ELEGANCE $320,000.00 Situated on 2.5 beautifully landscaped acres, this 4,400 SQ FT home features three levels of living space with a master bedroom suite on the main floor. French doors from the foyer to office add an elegant touch, while the bay window in the dining room lets the sunlight pour in. Relax in the vast great room boasting a cathedral ceiling, and wall of windows surrounding the floor-to-ceiling stone fireplace. Entertain in the eat-in kitchen which comes complete with an island and loads of upper-end cabinetry. A grand staircase leads to the upper balcony where you will find three more spacious bedrooms. The beautifully finished lower level includes a rec room, media room, bonus room, gas fireplace, big wet bar, and stairway to garage. This truly is country-style living at its best.
11136 Moate Road • 4,000 SQUARE FEET • 4 BEDROOMS • GREAT ROOM • MAIN FLOOR MASTER
Kevin Fisher 815|494|9595 Contact View Full Listing for Details
CUSTOM-BUILT RANCH $417,500.00
Settle in this beautiful custom-built ranch nestled on a wooded lot featuring 3,500 SQ FT of unique space to call home. Enjoy the spacious open floor plan with hardwood floors through the kitchen and entry area leading to a glass leaded door. Feel the comfort of the sizeable four bedrooms, three and a half baths that is fully exposed with a large, finished lower-level. Cook delicious meals in the kitchen with stainless appliances, granite counters, island sink, breakfast bar, oak cabinets, a pantry, and a bay eating nook with skylights. The vaulted ceilings and carpet in the living room that features a gas fireplace for those cool nights invites all to relax. Entertain in the formal dining room and spend a starry evening in the three-season porch that leads to a new L-shaped composite deck with stairs down to the patio. Retreat to the master suite that includes a jacuzzi, tiled double shower, a double vanity, walk-in closet and lighted coved ceiling. An open stairway leads to the exposed lower level with a convenient open floor plan that boasts a family room with gas fireplace, kitchen area with a wall of windows, office area, fourth bedroom and a full bath. So many amenities to enjoy including a large workshop with stairs to the four-car garage.
7443 Timber Ridge Road • 3,500 SQUARE FEET • FULLY-EXPOSED LOWER-LEVEL • WOODED LOT • LARGE WORKSHOP
Angie Leiva 815|742|6010 Contact View Full Listing for Details
WHY IS SO MUCH PAPERWORK REQUIRED TO GET A MORTGAGE When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago. There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any other time in history. 1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage. During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again. 2. The banks don’t want to be in the real estate business. Over the last several years, banks were forced to take on the responsibility of liquidating millions of foreclosures and negotiating an additional million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they have to double (maybe even triple) check everything on the application. However, there is some good news in this situation. The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a low mortgage interest rate. The friends and family who bought homes ten or twenty years ago experienced a simpler mortgage application process, but also paid a higher interest rate (the average 30-year fixed rate mortgage was 8.12% in the 1990s and 6.29% in the 2000s). Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.
WATER RETREATS 12637 Whitnall Place | Winnebago
• 100 FEET ON SHORELINE • PATIO WITH PERGOLA • SUBDIVISION AMENITIES Summer at the lake! Swim and boat right outside your door and revel in the 100 feet of shoreline complete with a dock. This like new home boasts a soaring two-story great room with a cozy fireplace. The firstfloor master has a slider out to the brick patio and private bath with a jetted tub and separate shower. Admire the views from the brick patio with a pergola or the lovely deck. Enjoy all the Westlake amenities and enjoy summer fun in your own backyard.
17120 Laube Road | Durand
Pam Cunningham | 815•289•6323 |pcunningham@gogambino.com
• 30 ACRE PRIVATE WOODED ESTATE • INGROUND POOL • GOURMET KITCHEN Don’t dream a dream, buy one. If you have ever dreamed of living on a private wooded estate in a custom one of a kind home with luxurious in-ground pool, here it is. A winding, privacy ensuing drive leads to a stunning home designed for entertaining. Impressive great room with cathedral ceiling, stone fireplace, and wall of windows. Gourmet kitchen with Corian, maple and high-end appliances.. Enjoy the solarium with skylights as this home has been meticulously maintained.
916 Olson Spring Close | Belvidere
Ginny Meyer | 815•262•8082 | gmeyer@gogambino.com • 4,200 (+) SQUARE FEET • INGROUND POOL • FULL EXPOSURE Retreat to your very own slice of Paradise. Custom built original design home over 4,200(+) SQ FT with four bedrooms, three full baths, full exposure, four car garage, and resort quality patio and pool area. This home features top quality throughout with unique angles and soaring ceilings letting the sunshine in. This estate sits on 1.66 Acres in a private location in Boone County. This vacation style property is ready to sell.
5521 Ridgemoor Court | Rockford
Frank Gambino | 815•637•0113 | fgambino@gogambino.com • 2,900 SQUARE FEET • INGROUND POOL • PRIME LOCATION Revel in this back-yard oasis with a beautiful 36x18 inground pool complete with newer pump and heater. Relax on the spacious decks overlooking pool and wooded 1 Acre fenced yard. Cook in the updated kitchen with granite, stainless steel appliances, and center island. The master has a private bath and walk-in closet. Prime location with easy access to Interstate 90. Karen Barbagallo | 815•988•5577 | kbarbagallo@gogambino.com
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Call Gambino Realtors 815 | 282 | 2222 Or log onto gogambino.com to start your home buying and selling process today!