Living in Aurora, IL

Aurora City is the second largest city in the state of Illinois. It was the first city in the United States to instigate all-electric lighting schemes in 1881 claiming the name “The City of Lights”. To date, it’s still keeping that declaration alive especially in the downtown area where the famous Paramount Theater and Hollywood Casino are situated.

CNNMoney.com considers Aurora, IL as 74th among the best places to live in, in the US. Generally, the people of Aurora are composed of Native Americans, Mexicans, Hispanics, and mostly European roots. This is brought about by the surge of immigrants from nearby countries and continents between 1850’s when Chicago, Burlington and Quincy railroad positioned their railroad car constructions and shops in the city. The company became one of the largest employers until 1960’s.

The city which is found mainly in Kane County but has some parts located in Dupage, Kendall and Will County is subdivided into several neighborhoods. Foreign immigrants live in Dutchtown, Little Italy, Uptown and Pigeon Hill neighborhoods. The West Side neighborhoods like Sans Souci, Cherry Hill, Riddle Highlands, Lakeside Sans Souci and Downtown Aurora are the home to more affluent families. Foxcroft, a rather famous neighborhood houses middleclass families was built in 1970’s and was expected to be the city’s center of economic growth. However for years now the vision hasn’t materialized yet. Despite this, it is still a well-known neighborhood since it is where the Illinois Math and Science Academy is situated. East Side neighborhoods like Frontenac, Southpark, and Newport Hill among others are where the moderately depressed areas are situated. Median houses are usually priced at around $189,000 to $216,300 while the median family income is around $62,523 to 77,000 a year. The city’s population is dominated by singles around the late 20’s to early 30’s but there are still quite a large amount of people who are married and have families. The male population is ahead by about 1%. Sales tax is at 7.75% while the income tax is 3%. Commute time to work is around 22.9 minutes and people get by through private vehicles mostly, buses and rail and a little percentage walk or ride a bike going to work. The weather in Aurora, IL consists of around 192 sunny days and 106 precipitation days, thus 23% of the whole year are considered clear days.

If you’re considering getting an Aurora home mortgage, you won’t definitely regret it. The city has a comprehensive health plan for almost 86.7% of its inhabitants, which is probably one of the reasons why the residents’ body mass average is 27 reaching the 27 body mass average for the best places to live in, in the US standards. The cost of living in the city compared to the average 100 of the US average is 92.32 overall, including food, utilities and miscellaneous. Job growth from year 2000-2007 reached 24.18%, making the unemployment rate lower compared to earlier years. As for the crime rate however, on the scale of 10 as the highest in the US the city is at 5. But then, the city government is exerting extra efforts in reducing the crime rate. In fact together with the FBI and the Aurora Police Department they adopted the “Cease-Fire” program to at least reduce gang violence in the vicinity.

There are lots of things that you can do in Aurora. Besides housing the aforementioned Hollywood Casino and Paramount Theater, the ever famous Walter Payton’s Roundhouse restaurant is also found in the “City of Lights”. Every Friday during summer, a food festival is held in Downtown Aurora, certainly one of the most anticipated events in the city. There’s also the Aurora Public Library and several museums in town like the Aurora Historical Society Museum to name one.

If you’re considering living in Aurora, IL, and experience how Garth and Wayne of Wayne’s World from the 1992 sitcom lived, then it’s definitely worth a try. Who knows, one of these days you might find yourself bumping into the stars of Prison Break while strolling the Northgate Shopping Center.

13 Extra Costs to be Aware of Before Buying a Home

Whether you’re looking to buy your first home, or trading up to a larger one, there are many costs – on top of the purchase price – that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you’re not informed and prepared.

Some of these costs are one-time fixed payments, while others represent an ongoing monthly or yearly commitment. Not all of these costs will apply in every situation, however it’s better to know about them ahead of time so you can bud-get properly.
Remember, buying a home is a maj
or milestone. Whether it’s your first, second or tenth home, there are many important details to address, during the process. The last thing you need are unbudgeted financial obligations cropping up hours before you take possession of your new home.
Read through the following checklist to make sure you’re budgeting properly for your next move.

1. Appraisal Fee

Your lending institution may request an appraisal of the property, which would be your responsibility to pay for. Appraisals can vary in price from approximately $175 -$ 300.

2. Property Taxes

Depending on your down payment, your lending institution may decide to include your property taxes in your monthly mortgage payments. If your property taxes are not added to your monthly payments, your lending institution may require annual proof that your taxes have been paid.

3. Survey Fee

When the home you purchase is a resale (vs. a new home), your lending institution may ask for an updated property survey. The cost for this survey can vary between $190 – $1,000.

4. Property Insurance

Home insurance covers the replacement value of your home (structure and contents). Your lending institution will request proof that you are insured as it protects their investment on the loan. Beware! Some homes may not be insurable. Make sure you have an insurability clause in your purchase contract.

5. Service Charges

Any new utility that services your hook up, such as telephone or cable, may require an installation fee.

6. Escrow and Document Preparation Fees

Escrow fees are split between the buyer and the seller in Colorado. However, additional fees will be charged for the buyer’s mortgage closing. This can include first and second mortgages. In addition to the “Doc Prep” fees charged by the lender, some lenders will e mail the loan documents and therefore the escrow or title company may charge a electric to paper fee.

7. Mortgage Loan Insurance Fee

Depending upon the equity in your home, some mortgages require mortgage loan insurance. This type of insurance will cost you between 0.5% -3.5% of the total amount of the mortgage. Usually payments are made monthly in addition to your mortgage and tax payment.

8. Mortgage Brokers Fee

A mortgage broker is entitled to charge you a fee in order to source a lender and organize the financing. However, it pays to shop around because many mortgage brokers will provide their services free to you by having the lending institution absorb the cost.

9. Moving Costs

The cost for a professional mover can cost you in the range of:

o$50-$100/hour for a van and 3 movers, and

o10-20% higher during peak demand seasons.

10. Maintenance or HOA Fees

Condos charge monthly fees for common area maintenance such as grounds keeping and carpet cleaning in hallways. Costs will vary depending on the building.

11. Water Quality and Quality Certification

If the home you purchased is serviced by a well, you should consider having your water checked by your local experts. Depending upon where you live, determines whether or not a fee is charged, to certify the quantity and quality of the water.

12. Local Improvements

If the town, city or county you live in has made local improvements (such as the addition of sewers or sidewalks), this could impact a property’s taxes by hundreds of dollars.

13. Metropolitan or Special Tax Districts

This is a unique tax district set up by the developer to finance all aspects of the physical infrastructure such as streets, sewer and even recreation centers or golf courses. The developer only has to put up a small percentage of monies for these costs and the rest are floated with bonds and added to the homeowners tax bills until paid off. The arrangement can work nicely when there are plenty of homebuyers to pick up the tax bill. But, in a down market, watch out…you could end up holding the bag when there are not enough buyers to fund the bonds.

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Denver Real Estate For Sale

Denver streets are lined with beautiful homes for sale. There are charming little retreats, family homes, vacation homes, vast country estates and small cabins. Whatever your preference, there’s Denver real estate property perfect for you and your family.

Denver communities

Denver Metro has about 42 municipalities and 7 counties with several neighboring mountain and valley districts. Each of these areas offers a unique living experience. The city of Denver has more than twenty exceptional neighborhoods. There are also beautiful real estate properties in the surrounding Englewood, Lakewood, Arvada, Broomfield, Greenwood Village, Centennial, Littleton, Highlands Ranch, Castle Rock, Parker, Thornton, Wheatridge, Aurora, Lafayette, Brighton, Boulder, Superior, Westminster, Northglenn, Golden, Cherry Hills Village and Evergreen to name just a few.

Denver’s population is very diverse, with a healthy mix of singles, families and senior citizens. This is why Denver has facilities for everybody – restaurants that cater to all ages and tastes, different churches representing different faiths and different recreational facilities. Denver also has a bustling nightlife and plenty of casinos. You’ll never run out of places to go to when you feel like having fun.

Remember that the cost comparisons, infrastructures, amenities and available properties vary in different areas, so do your research before deciding what area to buy real estate in.

New real estate projects across Denver

Real estate is booming in Denver, and more and more real estate developments are being built. Aside from the many existing properties in the Denver area, there is also a very active market for new properties. The population in Denver is ever-growing, so developers are offering new projects for all kinds of buyers. You can choose to have your home constructed instead of buying existing Denver real estate properties . This way, you can get involved in just about every aspect of your home’s look and feel.