Gambino Realtors Home Guide Volume Four Issue Five

Ithink we all know instinctively this quote is true….but so is the proverb "look before you leap" written by Aesop around 500 B.C. These two quotes may seem to contradict each other, but in reality, they go together perfectly.

I frequently hear buyers today say that they are going to wait for interest rates to come down before they “leap” into a new home. This is understandable, but we need to also remember the first quote that by waiting too long you could be too late to enjoy the benefits.

Here’s what I mean. Interest rates have a direct impact on your monthly mortgage payment, but so does the price that you need to pay to

FROM OUR PRESIDENT

Jonathan R. KrauseGambino Realtors

buy that house. While you’re waiting for interest rates to drop, the price of your dream home is increasing. By waiting too long, you might very well eliminate any benefits of a lower interest rate by borrowing more money to purchase your dream home.

It does seem likely mortgage interest rates will drift lower in the future, but no one believes that they will get back to the ultra-low rates of a few years ago. Likewise, it is highly probable that home prices will continue to rise at a strong pace.

Fortunately, you can always refinance your mortgage if/ when rates come down, but we can’t reverse higher home prices.

"Sometimes if you wait too long, it's too late"

- Sarah Strohmeyer

9506 Shore Drive

Machesney Park

$599,900

Welcome to this contemporary and traditional home situated along the Rock River! As you step inside, you'll be greeted by walls of windows that offer stunning views of the river. This home boasts a master suite with ninefoot ceilings, a closet loaded with built-ins, and a spa-like bathroom with a soaker tub and oversized walk-in shower, a private office and balcony overlooking the river. The open-concept layout provides plenty of living space to entertain guests. You'll find a fireplace with a marble mantel in the living room and a double-sided fireplace in the family room and dining room. The kitchen has updated Samsung Pro Black stainless steel appliances, granite countertops, a pantry, and an oversized island, making it an ideal space for preparing meals. The meticulously landscaped yard features a three-tier waterfall and a new cement driveway. The three and a half car heated garage boasts a 13-foot ceiling and epoxy floors.

815.623.5555

Tina Eisler

THE REAL ESTATE MARKET IS THE STRONGEST IN OUR LIFETIME

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime –if not the strongest housing market of our lifetime.

Here are two fundamentals that prove this point.

1. The Current Mortgage Rate on Existing Mortgages

First, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4% (see graph below).

avoid a crisis with a flood of foreclosures coming into the market like there was back in 2008.

2. The Amount of Homeowner Equity

Second, Americans are sitting on tremendous equity right now. According to the Census and ATTOM, roughly two-thirds (around 68%) of homeowners have either paid off their mortgage or have at least 50% equity (see chart below).

In the industry, the term for this is equity rich. This is significant because if you think back to 2008, some people had to make the difficult decision to walk away from their homes because they owed more on the home than it was worth.

Now, there’s a lot of talk in the media about a potential foreclosure crisis or a rise of homeowners defaulting on their loans, but consider thishomeowners with such good mortgage rates are going to work as hard as they can to keep that mortgage and stay in their homes. That’s because they can't go out and buy another house, or even rent an apartment, and pay what they do today. Their current mortgage payment is more affordable. Even if they downsize, with today’s higher mortgage rates, it could cost more.

Having so many homeowners with such low mortgage rates helps us

But this time, things are different because homeowners have built up so much equity over the past few years alone. And, when homeowners have that much equity, it helps us avoid another wave of distressed properties coming onto the market like we saw during the crash. It also creates an extremely strong foundation for today’s housing market.

We are in one of the most foundationally strong housing markets of our lifetime because homeowners are going to fight to keep their current mortgage rate and they have a tremendous amount of equity. This is yet another reason things are fundamentally different than in 2008.

Situated on a on cul-de-sac in a wooded setting, this nearly one acre property is an enterainer's delight! With an open concept floor plan featuring four bedrooms and three full baths, there is ample space to grow. Enjoy the touches of mid-century modern and the soaring ceilings with beams. The kitchen is spacious and ready for to cook up your favorite dishes. With county taxes and a stunning design, this home checks off all of your boxes.

Enjoy the front covered porch overlooking the well landscaped lot. The large foyer has French doors leading to the stunning great room with a cozy wood burning fireplace. Newer vinyl plank flooring, furnace and central air. Large first floor laundry room off kitchen. The walk-up attic is converted into a fourth bedroom. Great location near shopping and Interstate 90.

5582 Ridgemoor Court | Rockford $379,900 4 BD | 3 BA | 3,038 SQ FT

2513 White Oaks Drive | Beloit, WI $260,000 4 BD | 2 BA | 2,381 SQ FT

4718 Cabot Lane | Cherry Valley

Be prepared to be wowed! This beautiful ranch in Penfield Crossing Subdivision is all ready to entertain. Formal entry opens to the living room with a brick fireplace and vaulted ceilings. Huge eat-in kitchen features a breakfast bar, lots of cabinets, newer quartz countertops, refrigerator, microwave, and disposal. There is ample space in the lower level with a beautiful kitchen/wet bar with quartz countertops, dishwasher, and stone surround. Lots of upgrades throughout, and let’s not forget the low-maintenance saltwater inground pool ready for you to enjoy!

815.978.5613

rpremo@GoGambino.com

Don’t miss out on this gem in a setting surrounded by mature trees and an ample amount of privacy on your very own 11.26 acres. The spacious kitchen features a slider to the deck overlooking your stunning grounds. Entertain in the living room with bay window that brings in lots of natural light. Gather with family and friends in the rec room for games and fun. The two and half car garage is heated. Zoned Agricultural, located in the Rockton/Hononegah School District, and fitted with a 36x50 pole building, this property is ready for you to start your next adventure.

Location and beauty, this like-new single family home with attached common wall is ready for new owners. Enjoy the flow of the open floor plan, cathedral ceilings, and lots of windows letting the sunlight pour in. The great room boasts a fireplace. Kitchen features include granite, custom cabinets, stainless appliances, and a breakfast bar. Retreat to your master bedroom with ensuite and walk-in closet. Lots of room in the two car garage. Location is excellent, minutes from 1-90/173, shopping and restaurants.

6247 Parks Edge Drive | Loves Park

2599 Sioux Court Rockford

$320,000

4 BD | 3/1 BA | 3,487 SQ FT

Welcome home to this two-story home with almost 3,500 square feet of finished space throughout three levels! Great curb appeal and colorful tulips will greet you as you approach the concrete patio in the front of the home. The formal living room has French doors that open to the family room. Gleaming Tigerwood floors flow through the formal living, family, and dining rooms. There is a huge eat-in kitchen with stainless appliances, ceramic tile flooring, and a breakfast bar, all open to the family room with a wood-burning fireplace. Sliders off the kitchen will take you to the massive threetiered deck. The large master bedroom has a walk-in closet and a private bath featuring a shower and jetted tub. Lower level has sliders that out to the patio, rec room, two additional finished rooms, full bath, workshop, and storage. The property is situated on a half-acre lot; the back is tree-lined for extra privacy. Easy access to US 20.

Mikhaele Howell

815.871.6787

Get ready to enjoy the views from your beautiful deck overlooking the lush green grounds and mature trees at this large four bedroom, three full-bath ranch. Enjoy the living and dining room combo for entertaining. The spacious family room has a gas fireplace for those cooler months. The lower level boasts a rec room, bonus room, fourth bedroom, and a full bath. The two-car garage has lots of space for your tools. Lots of updates throughout, and ready for you to move in today.

3649 Flambeau Drive | Rockford

3454 S. Mill Road | Cherry Valley

Live the vacation lifestyle in your very own unique red pine log home! Beautiful inside and out, you will have the opportunity to enjoy excellent views of the river in the heart of Cherry Valley. Carefully planned, this home offers a retreat vibe with vaulted ceilings, floor to ceiling stone, and a cozy wood-burning fireplace. The kitchen was not left out on the extra amenities as it boasts stainless appliances and granite countertops. The lower level has a walkout and a gas fireplace to warm up next to during those cold months. Plenty of room in this log home for entertaining family and friends. Low Cherry Valley taxes

Do not miss out on this all brick, three bedroom ranch that is ready for your personal touch and style to make it home. Excellent location on a corner lot in the Edgebrook neighborhood. The living room has a large picture window allowing lots of natural light to fill the room. Relax in the family room near the wood-burning fireplace. The basement has a ton of possibilities, just needs your creativity. Nestled on a large lot with a two-car garage, this is a home that is waiting for new owners to bring it to life.

2508 Elder Lane | Rockford

Stately Cape Cod on private road! Timeless elegance from the foyer to sunken living room with built-ins, marble surround fireplace, and hardwood floors opens to formal dining with folding doors and hardwoods. Family room with French doors off dining room with panoramic view of backyard gardens, hardwood floors, wood paneled walls and wet bar. Kitchen has swinging door off dining room with quaint eating area, solid wood cabinets, butcher block counter, commercial range, updated appliances and loads of storage. Covered front porch, deck, garden shed, and fenced yard.

Lovely split-bedroom ranch! Tile entry and kitchen with newer appliances, quartz countertops, and tile backsplash. First floor laundry with storage shelves added. Great room with vaulted ceiling, gas fireplace, and wood laminate floors. Large master with tray ceiling, walk-in closet, and private bath with double vanity. The basement includes a large family room, full bath, and bonus room. Beautiful front porch area with Koi pond, complete with waterfall. Amazing deck in the backyard with pergola.

Welcome to your country lifestyle with city convenience! This well-maintained three bedroom, two bath ranch sits on slightly over one acre on a cul-de-sac surrounded by mature trees. The kitchen is ready for the chef in the family with recent updates. Great views from the sprawling deck. Relax in the fenced yard amidst a beautiful setting. Easy access to I-90/39/20, and Chicago Rockford International Airport.

815.289.6323

pcunningham@GoGambino.com

White

Trail | Rockford

2108 Balmoral Place

Rockford

$279,900

5 BD | 2/1 BA | 3,078 SQ FT

Lovely John Evans two-story home near Brookview School. The huge kitchen features granite counters, new cabinets with pullouts, selfclosing drawers, and hardwood floors. Sliders lead to a covered 29' deck and partially fenced yard with a beautiful perennial garden. Unique Frank Lloyd Wright style leaded-glass built-ins adorn the family room, along with a masonry fireplace. Spacious living room and dining room with plenty of windows provide lots of light. Main floor laundry and powder room. The large master bedroom has separate vanities and closets. The four other bedrooms share a bath with dual vanities and updated cabinets. Tons of storage and closets throughout the layout.

Connie Paris

815.222.6076

Wonderful, move-in ready ranch located in Northeast Rockford, just one block from Bloom Elementary School. Gleaming hardwood floors throughout create a clean vibe. There is a breezeway that connects the garage to the house. The finished lower level has a rec room and an office. The backyard is huge and has a deck for you to relax or entertain on.

Well-maintained, three bedroom, two bath ranch in the heart of Rockford is nestled on a dead-end, tree-lined street. Kitchen has elevated touches with granite countertops and stainless appliances. Enjoy entertaining your family and friends in the lower level that comes complete with a rec room boasting a fireplace, a dry bar, and a huge bonus room. The beautiful three-season room with adjoining outdoor deck allows you to enjoy the views throughout the year.

Your oasis awaits! The beautiful landscaping, perennials, and red maple tree greet you at this former model home for the subdivision. A chef ready kitchen is well-equipped with quartz countertops, a breakfast bar, and a new backsplash. Relax in your master suite in your claw foot tub after a long day. Enjoy your home cooked meal on the spacious brick patio, while listening the water feature, and reveling in privacy.

1713

215 Carson Drive | Poplar Grove $239,900 3 BD | 2 BA | 1,342 SQ FT

Don’t miss this cute and charming ranch! Enjoy the convenience of moving right in because this home has remodeled bathrooms, newer windows, and freshly painted cabinets and a cute breakfast nook in the kitchen. Hardwood flooring dispersed throughout the layout. The rec room is spacious in the basement and there is plenty of storage. The beautifully landscaped and private backyard is ready for you to have some fun and relaxation this summer.

16288 Cunningham Road | Pecatonica

Updated home with lots of character nestled on 1.48 acres in tranquil rural setting! Main floor features include foyer and living room with wood burning stove and hardwood floors. Main floor master with hardwoods, and amazing master ensuite with tub, separate sewer, and tons of storage. Dining area off living room opens to large country kitchen with center island. Upstairs are two additional bedrooms. Drop zone, hobby room/workshop, bonus room, and three-season room would make great offices for business with separate entrance. Store all your toys, and equipment in the heated 30x42 building with 18' door.

Kathy Heeren-Ellis

815.708.4061

kheerenellis@gogambino.com

5851 Whitecliff Road

Rockford

$259,900

3 BD | 2 BA | 2,869 SQ FT

Completely renovated, all brick ranch home with quality craftsmanship throughout. Lots of the work has been done for you. Enjoy newer kitchen with white cabinets and appliances, baths in updated colors, gleaming flooring, and trim. The large living area off the kitchen boasts a fireplace and built-ins. The bright and airy sunroom opens to a custom deck featuring paver patio, a firepit and hot tub. Extremely well-maintained home offering 2,870 square feet of luxury. The fully finished lower level is great for entertaining, and includes a workshop. The fenced, meticulous yard with amazing deck and garden shed is ready for you to start your summer fun.

Brad Zimmerman

815.985.2830

We were out of town and Karen made all aspects of the sale extremely easy. I would recommend her to anyone looking to buy or sell in the Rockford area! - Robert

Just had such a wonderful experience. Tony listens and is extremely patient. Everything was so smooth and easy. Would highly recommend! Thanks Tony!

Have you been looking for a stylish, four bedroom, fully-exposed, updated ranch? If so, you better take a look! The inviting living room has gleaming hardwood floors that are a nice contrast to the trendy grey and white color theme throughout. Remodeled kitchen with granite counters, stainless appliances, center island and lots of room for a table! Sliders off the eating area lead out to the deck. In the lower level, you will find a huge rec room, family room area, bedroom, half bath, laundry, and storage.

You will be captured upon arrival to this renovated brick ranch located in an ultraconvenient neighborhood and a stone’s throw from Highland Park. The main level provides new flooring, hardwood floors and fresh paint. A formal dining room leads to the refurbished kitchen outfitted with stainless appliances. The living quarters offers three bedrooms and a new bath. The finished lower level expands livability and features a bar, family room and full bath. Also provides the convenience of an attached garage.

5522 Melba Lane Rockford

$250,000

On almost an acre with Cherry Valley tax rates, this won’t last long! This brick ranch has new laminate in the living, dining, family, two bedrooms and finished basement. Kitchen features granite countertops, undermount sink, pantry, breakfast bar, stainless stove and refrigerator, workstation, dining table area and newer tile. Main bath has a granite vanity. Half bath for guests on the main floor. The family room has a pellet burning insert in the fireplace and a newer slider to the patio. The finished basement has a full bath and bar. Large 32x28 outbuilding is insulated, has a pellet burner, two doors with openers, and three 220 outlets. The second outbuilding measures 32x16 and is fitted with skylights. In addition, there is a garden shed for all your yard tools.

Lyle McKinney

815.543.2008

3 BD | 2/1 BA | 2,231 SQ FT

4855 Brigadoon Road | Rockford

If you love Mid Century Modern architecture, then this is your home! This property features the elements that have kept this style popular over decades but welcomes the finishing touches that will bring it back to its full glory. Upon entering you are greeted with the main living area combining the living room, dining room and kitchen. Beamed volume ceilings, rich hardwood floors and floor to ceiling windows throughout invite the outside in. A few steps up you will find four nicely sized bedrooms and down a few stairs a private family room. A finished basement adds additional flexible living area.

1741 Hancock Street | Rockford

Here is your chance to be a part of the Edgewater community. A neighborhood that takes pride in its architecturally charming homes, brick streets, proximity to the river, bike paths and downtown. This three bedroom, one bath home has a completely renovated kitchen, and bath, refinished hardwood floors, new roof, new plumbing, updated electrical, and new water heater. A 625 square foot third bedroom was recently added upstairs for extra living space.

YUMMY

by Gambino

MEDITERRANEAN LAYERED SALAD

Refresh and reset this summer with a light and delicous Mediterranean layered salad that serves up 12.

INGREDIENTS

Dresssing:

1/2 cup extra-virgin olive oil

3 tablespoons lemon juice

1 tablespoon chopped fresh parsley

1 1/2 teaspoons honey

1/2 teaspoon salt

1/4 teaspoon pepper

1/4 teaspoon red pepper flakes

INSTRUCTIONS

Salad:

8 cups chopped romaine lettuce (12 oz)

1 container (8 oz) prepared hummus

1 1/2 cups cherry tomatoes, halved

1 medium English cucumber, chopped (3 1/2 cups)

1 jar (6 oz) marinated artichoke hearts, drained, and coarsely chopped

1 medium red onion, thinly sliced (1 cup)

1/2 cup coarsely chopped pitted Kalamata olives

1 cup crumbled feta cheese (4 oz)

In small bowl, stir all dressing ingredients together with whisk until well blended.

Arrange lettuce on large serving platter. Drizzle with 3 tablespoons of the dressing. Place small dollops of hummus evenly over lettuce. Layer tomatoes, cucumbers, artichoke hearts, onion, olives and feta cheese on top of hummus.

Serve with remaining dressing.

This charming two bedroom, one bath ranch is waiting for you. Good sized living room and kitchen with table space are excellent for entertaining. Beautiful hardwood floors flow through the living room and bedrooms. The partially finished basement offers a rec room and laundry room. Enjoy the warm weather from the season porch and fenced backyard.

Warm and cozy two bedroom one and a half bath brick ranch is ready for you to start creating your new memories. A nice spacious living room and formal dining room are great spaces for gathering with family and friends. The main bathroom is remodeled. The laundry is conveniently located on the first floor, along with a mud room. Some hardwoods and white trim throughout the floor plan. There is a front porch and patio for summer enjoyment.

3814 Louisiana Road | Rockford $120,000

2 BD | 1 BA | 1,224 SQ FT

110 S. Calvin Park Boulevard | Rockford $120,000

2 BD | 1/1 BA | 1,604 SQ FT

6312 Spruce Street | Loves Park

Move right in to this charming ranch in the heart of Loves Park! Updated kitchen with new flooring and stylish subway tile backsplash. Hardwood floors span through the living room, hall, and bedrooms. Lower level features extra storage and a fantastic rec room to expand your living space! Generously-sized corner lot with fenced yard, patio, and shed. Attached garage is heated for year-round comfort. Extra wide concrete driveway for additional parking.

Gambino Realtors' Stats

April 1, 2023 - June 7, 2023

$14,881,785

89

$173,831

TOTAL VOLUME SOLD UNITS AVERAGE SOLD PRICE

4

MEDIAN DAYS ON MARKET

126 Callaway Cove | Loves Park

Elegant, move-in ready condo with over 4,300 square feet of style and luxury. Newer LVP floors on main level adds a touch of modern. Light and bright throughout! Eat-in, chef’s delight kitchen boasts granite, stainless appliances, and a large pantry. Expansive master suite with a huge walk-in closet and luxurious bath that makes you feel like you are living in a resort. Loft and bedroom with custom bath on the second floor. Lower level is great for entertaining with bar and eating area and fully equipped media room! Great views overlooking the pond.

Brad Zimmerman

815.985.2830

bzimmerman@GoGambino.com

On

Enjoy

109 South Benton Street | Winnebago

This fantastic investment opportunity won't last long! A large full-service restaurant currently occupies the first floor with plenty of roadside parking and storage space. Upstairs there are four recently updated one bed one bath apartments with an expansive deck. This building features 400 amp service with ample tenant parking in rear.