Look for items made in the USA

 

Assessed Value vs Market Value

 

Question: My friend told me that my home is only worth $330,000 based on the assessed value. Properties have been selling for a lot higher around here. She said her tax bill indicated this low value. Am I missing something?

 Answer: I’m sure your friend is a wonderful person and knowledgeable in many areas, but not in real estate.     A home's assessed value is set by the local government to calculate property taxes, while market value is the actual price the home would sell for on the open market. Assessed values often lag behind real-time market changes and are frequently lower than the actual market value.

 The main use is figuring out yearly property taxes. It’s set by local government tax assessors. They use mass formulas and historical sales data and often represents a fixed percentage of a home's value. Assessments are updated periodically (such as every year or a few years). Improvements you’ve made to your home, in between assessments, will certainly add to the assessed value.

 Market Values Main Use is for Buying, selling, or refinancing a home. It is set by Real estate buyers, sellers, and agents.

It is based on current buyer demand, local competition, the improvements to your specific home and recent sales of similar homes. If your home has market appeal, it will demand more value.

Market value changes constantly based on real-time market behavior.

Website: www.Cathyhiggins.com

 

Real estate Market update August 2026

 With fewer buyers out there, especially in Illinois, homes are not selling as quickly as they have the previous years.

Indiana homes are selling well, mainly the homes that are updated and look nice.

Price and Updating are the key factors.

More interesting factoids

 Going to the Grocery store? 

Take a pic of your refrigerator and pantry before you leave. This way you can actually see what you need, which means fewer trips back and forth.

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Candles will burn longer and drip less if they are placed in the freezer for a few hours before using.

Life Hacks

 The 8+8+8 Rule:

Break your day into 3 sections of eight.

8 hours for sleep. 8 Hours for hard work. 8 hours for yourself and your relationships.

Have a headache? Submerge your hands and feet in hot water, and put a zip lock bag full of ice on the back of your head. The heat on your extremities pulls the blood from your head, relieving your head pains.

Life tip: Stop trying to be the person your parents want you to be, and start being the person you would want your child to be.

New Listing in Lansing: Beautiful Home with Resort like back yard

1809-185th st, Lansing, Il

Take the video walk around by clicking the safe Link below:

https://youtu.be/CH4XvZDPoQI

New Listing in Hobart, take the video walk through tour

 $254,900.  2 Bedrooms. 2 Baths. Partially finished basement. 2000 sq ft of living space on all levels.

                                Click on the Link below:

  Take a video walk through of this charming home

 Q.  We are selling our home by owner. The time to sell is getting critical for us. We think it is worth what we are asking for it, but it is not selling. What is your opinion on this?

A.  First of all, no buyer cares what you think your home is worth, nor do they care how much you owe on it. You have to understand that the home is only worth what a buyer is willing to pay based on the recent sales, current competition & market conditions. And, in most cases, the lender will require an appraisal, which brings us back to recent sales. Appraisers use recent sales of similar properties in determining the value of the home.         If your Home appraises lower than the sales price, and you are not willing to sell at the appraised price, then the buyer will not get the loan and your deal is dead. Did you say “then I’ll wait for another buyer?” Well that’s fine except chances are the next appraisal will probably come in the same as the last appraisal, maybe even lower, depending on the market and you’ve just lost all that market time.  If you want to sell your home by owner, that’s fine, but you need to figure in the (large amount) of extra time it is going to take to sell your home, because you are reaching such a limited buyer group. Real estate companies reach a much larger pool of prospective buyers.

Also, why in this sometimes crazy World, would you let strangers walk through your Home?  Plus, you don’t even know if they have been prequalified to purchase a home.  Realtors know the buyers they are bringing through your Home and these Buyers have been prequalified. Remember, these buyers want to be represented by a Realtor who will protect their interests!                                                                                                                                           

When selling by owner, consider this old saying by economist John Ruskin:

“It's unwise to pay too much. But it's worse to pay too little.                                                                     

When you pay too much, you lose a little money, that is all.                                                          

When you pay too little you sometimes lose everything, because the thing

you bought was incapable of doing the thing it was bought to do.”

Another set of Life Hacks

 Looking to clean up the air quality in your home?

Get a few snake plants. According to a NASA study, they are the most effective plant at producing Oxygen.

NASA found that if you were in a sealed room with no airflow, you would need only 6-8 snake plants to survive!

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Need to make a big life decision? Use the HALT method. Make sure you're not Hungry, Angry, Lonely, or Tired before making that decision.

Should I get a home before we get married?

Question: I'm a first time home buyer. I'm 18 years old and getting married in April to a man who is 23 years old. He has good credit but I'm afraid we won't be able to get a mortgage in time for the wedding.

He has two car loans already and his jobs aren't really that great. If you put all three of his jobs together he makes around six to seven hundred dollars a week.

Where do you think would be the best place for us to get a loan. Where is the first place we should try?

Answer: You should be congratulated for thinking ahead and your future husband should be recognized for his willingness to work.

It's not necessary to have a mortgage in place by the time you're married. In fact, it may not be a good choice. The reason is that you, at age 18, need some time to either continue your education or get a job. The first choice will increase your potential earnings while the second will help you generate dollars that can be used to build savings and pay off those pesky car loans.

Before buying a home you need to consider your local market and your preferences. Are home prices rising or falling? Is the job base growing? Is the population increasing? How will you get to As to a new home by your wedding day, allow me to suggest that you are best served carefully examining your options and waiting until the right property is available. If that happens by your wedding day that's great; if not, that's okay too. The purchase of a home is a long-term investment, a process which should not be rushed. work? Where will you be living in five years?

You can speak with several lenders regarding loan programs that might work for you. Once you can qualify for a program you will know how much house you can afford. Then speak with a local broker regarding properties now available that would meet your needs.

Market update for Illinois and NW Indiana

The market is slowly shifting to a weak buyers market in most instances.

The exception are homes that are in top, updated condition.          

These homes, in many cases, are still receiving multiple offers.

Sellers have to adjust their thinking that this is not the sellers market of 2022.

Your non-updated home, in average condition, is not going to sell for the price it did back then!

You did not spend thousands and thousands of dollars to update your home, so you will not get top dollar now.

Another Round of helpful Life Hacks

1.  Need some milk for cooking, but nothing else?

     Pick up some dry milk in the baking aisle. It lasts for years and tastes great. Also works great for mac & cheese.

2. Want to evenly distribute heat while microwaving food?  Create a doughnut shape with your food. No more burning- hot center and cold edges.

3. Want a simple way to budget your finances? Use the 50/30/20 rule.                                            

Budget 50% on Needs, 30% on wants, and 20% on savings.

New Listing in Highland: Affordable, Beautiful & Well Cared for!

 

3131 Strong St, Highland, In   $268,900

           https://www.mccolly.co3131 Strong St, Highlandm/single-family/gni/838549/3131-strong-street-highland-in-46322

 

Take the video walking tour:

https://www.youtube.com/watch?v=GRjEeG_RzhI

Just Listed!  825 Grand Haven Way, Schererville, IN 46375

This beautiful and spacious, 2-bedroom, 2-bath half duplex home, is located in the desirable Briar Cove community. Upon entering the home, visitors are welcomed by a striking Foyer with a soaring 14-foot ceiling. This impressive height creates an open and spacious atmosphere, immediately setting a tone of elegance and grandeur. The Living room is thoughtfully illuminated with a combination of natural and recessed lighting. The recessed fixtures provide the perfect amount of brightness, enhancing the architectural features of the space and ensuring a warm, inviting ambiance. The primary bedroom is designed as a peaceful retreat, complete with a lighted Tray ceiling, a private bath and a walk-in closet. The second bedroom, also with a lighted Tray ceiling, is situated at the opposite end of the home, with the main bath conveniently adjacent, offering privacy and functionality for guests or family members. This layout is ideal for related living arrangements. The eat-in kitchen is thoughtfully designed for convenience and casual dining, making meal preparation and family gatherings easy and enjoyable. Appliances are included. There is also a dedicated dining room area, perfect for more formal meals or entertaining guests. A versatile den offers extra space that can be used as an office, craft or sitting room. The bright and cheery Sunroom provides an ideal setting for enjoying natural light throughout the day, creating a warm, welcoming, and relaxing atmosphere. The large living room, featuring a gas fireplace, serves as an ideal centerpiece for the home. Main level laundry. Washer and dryer are included. Completing the home is a 2-car-attached garage, which provides both storage and convenience. Also: New Lighting. Recently painted. Newer appliances. Crown Molding. Community has a beautiful waterfall and pond. Convenient location close to Shopping, Restaurants, Movie theaters and close to the South Shore train station.

Great idea to keep the clothes clutter out

 Have a hard time throwing out clothing?

Every time you wear something, reverse the hanger when you put it back in your closet.

At the end of the year, give away all of the clothes that still have the hanger the right way around!

A Bedroom where we sleep isn't a Bedroom? What?

 

Question:   We have a bedroom in our basement. The appraiser said it is not a bedroom and our home appraised at less than sale price. How could they say it is not a bedroom when we have beds in there and our sons slept there for 13 years? We are furious!

Answer:  I understand your frustration. You have a nice home, both parties agreed to the sale price, you made it through the home inspection and everyone is happy. Then the appraiser steps in and ruins this perfect deal.

Although your home obviously has a bedroom in the basement, it does not meet the bedroom criteria that an appraiser uses. This may vary from state to state, but generally a bedroom is considered a bedroom by an appraiser if it has 2 ways of egress (door and/or window). The bedroom must be at least 70 sq. ft, and it cannot be smaller than 7 ft in any horizontal direction. Sorry, that 2’x35’ room is not a bedroom. The escape window or door must be at least 5.7 sq. ft for an opening.                                                                                                                              

But guess what? It doesn’t need a closet according to the appraiser!                         NOTE: It would be a good idea to put at least an armoire in that bedroom to satisfy your buyer.

The Conclusion: It may look like a bedroom, it may have a bed like a bedroom and you sleep in it like a bedroom, but according to the appraiser, it doesn’t quack like a bedroom.

Thinking of Selling? Call Cathy & Jim Higgins for a Market Evaluation on your Home:

Ind: 219-577-5905  Ill: 708-828-3304.                         

Licensed Broker/Realtors in Indiana & Illinois

McColly Real Estate

Website: www.Cathyhiggins.com

Life Hacks Part 1

 If you buy unnecessary things that are on sale, you're not saving money;

you're still spending it.

Clogged toilet but don't have a plunger?

Dump some hot water and salt in toilet. Leave it for 5 minutes. Problem solved.

Before buying something for your home, ask yourself these 2 questions:

1. Where will I store it?  2. How difficult will it be to clean?

You can make any leftover meal taste like it was just cooked by placing a cup of water into the microwave alongside the leftover when you reheat.

One of the best ways to get through to a human operator when talking to a chatbot is to say the words, "I want to cancel my plan/subscription, etc." Most chatbot programs are designed to have humans step in once these keywords are said.

If you can avoid it, don't live due West of your workplace. If you drive, the sun will be in your eyes during the morning AND evening commutes.

Dating tip: Pay attention to how your boy/girl friend treats their family. That's how they will eventually treat you!

Get in the habit of thinking a month is 4.345 weeks long. Most people use 4 weeks when making monthly cost calculations.

Signs I read in Arizona

Before we work on artificial intelligence, 

Why don't we do something about Natural stupidity?

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Free Taco's, yesterday.

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Spring is here. I'm so excited, I wet my Plants!

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Just sold my homing pigeon on Ebay for the 22nd time!

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The inventor of auto-correct died.

The funnel will be held tomato.

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Sign at a flooring store: Husbands buying floor tile, must have a note from their wife.

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Special:

Buy one burger for the price of two, and receive a second Burger absolutely Free!

Beautiful Hike in Arizona

 

Life is weird

 

The Bank says I can't afford a $1000 mortgage, 

so I pay $1400 a month in rent, instead.