Real Estate FAQ | Joanne Dal Santo | Chicago South Suburbs & Northwest Indiana

FAQ

Real Estate Questions, Answered

Have a question? Here are the answers buyers and sellers ask most, refreshed for fall 2026. Don't see yours? Ask away.

Buying

Questions About Buying

Is now a good time to buy in the Chicago South Suburbs or Northwest Indiana?

It depends less on the calendar and more on your own readiness. Rates are hovering just above 7%; Freddie Mac's September 24, 2026 survey put the average 30-year mortgage at 7.03%, the first time above 7% since early 2025 and up from about 6.30% a year earlier. In tight markets like Lake County, Indiana, where homes often go pending in about 30 days, waiting for a better headline can mean competing for a smaller pool of homes. The right time to buy is when you are financially ready and clear about what you want, and I will help you run the numbers. See the buying guide and the latest market report to get started.

How do I get pre-approved and what do I need?

A lender reviews your income, assets and credit to tell you exactly how much you can borrow and what your monthly payment looks like, and most pre-approvals come back within a few days. You typically need recent pay stubs, tax returns, bank statements and identification. Getting pre-approved before you shop puts you in a far stronger position when the seller receives your offer. I can recommend lenders and walk you through what to prepare in the buying guide.

Which towns are best for first-time buyers?

Strong options include Frankfort, New Lenox and Mokena in Illinois, and Dyer, Schererville and St John in Indiana, all with a range of starter homes, and we cover the school districts in depth on each town page. The best fit depends on your commute, budget and lifestyle, so I help you compare what matters most rather than pick a one-size-fits-all town. Let's find the right move for you.

How much money do I need to buy my first home?

Less than most people expect. You can buy with as little as 3% down on a conventional loan, 3.5% with FHA and zero down with VA or USDA, and assistance programs on both sides of the state line can cover part of the down payment and closing costs. Illinois launched IHDAccess Home in 2026 with up to $15,000 in 0% interest assistance, while Indiana's First Place program offers up to 6% of the purchase price. I will help you see exactly what the number looks like for your situation in the buying guide.

Should I buy now or wait for mortgage rates to drop?

Rates are hovering near 7% and forecasters expect them to stay close to that level into 2027, so waiting is a bet with no guaranteed payoff. Prices and demand keep climbing across much of the South Suburbs and Northwest Indiana, and every payment you make builds equity. That is why many buyers choose to buy now and refinance later if rates ease. I can show you the buy-now versus wait numbers on the market report.

What are closing costs and who pays them?

Closing costs are the fees required to complete the sale, including loan, title and escrow charges. Buyers and sellers each pay their own set of these costs, and sellers often cover a portion of the buyer's as a negotiated concession. I will lay out the full breakdown before you commit so there are no surprises at the table.

Selling

Questions About Selling

Is now a good time to sell a home in Illinois or Indiana?

It is a good time to sell when your home is ready and your next step is clear, yet conditions are genuinely strong in parts of our market. Lake County, Indiana medians were up about 13% year over year this summer with homes going pending in roughly a month, while Cook County's South Suburbs saw medians climb 5% to 9% and many homes sell above asking. Some towns are seeing list prices soften, so pricing and presentation matter more than the season. Read the selling guide and the latest market report.

How much does it cost to sell a home?

Sellers typically pay their listing agent's commission plus their own closing costs and any concessions they offer. How buyer's agent compensation works changed after the 2024 industry practice update: it is no longer advertised on the MLS and is now negotiated directly between the buyer and their agent, with sellers choosing whether to contribute. Many sellers also invest a little in light updates, staging and professional photography. I will walk you through a clear breakdown of what to expect so nothing catches you off guard. See the selling guide for the full cost picture.

What should I fix before listing my home?

Focus on the things buyers notice and the issues an inspection is likely to flag, not a full renovation. Fresh paint, clean floors, good lighting and strong curb appeal go a long way, while a major kitchen remodel rarely pays for itself. I help you prioritize the updates that add the most value and skip the ones that won't move the needle.

How do I know what my home is worth?

A comparative market analysis compares your home to similar homes that have recently sold in your neighborhood. Realistic pricing is the single biggest factor in how quickly and for how much a home sells. I will give you a free, honest estimate based on current local data. You can see how the market is trending on the market report.

How fast will my home sell?

Days on market varies by town and price point. Some Lake County communities like Highland and Portage see homes go pending in about two weeks or less, while higher-price-point towns like Frankfort often run closer to 50 days. Correct pricing and strong marketing are the biggest levers you control. I will give you a realistic timeline based on what similar homes in your neighborhood are doing right now.

Should I sell my home before I buy my next one?

Listing first, and ideally getting under contract, puts you in the strongest position when you make an offer on your next home. A sale contingency can put you at the back of the line in a competitive market, while a bridge loan or home equity line can help if you need to buy first. The right order depends on your equity, your timeline and the market you are buying into. I will map out the options with you in the selling guide.

Who pays the buyer’s agent commission now?

Since the 2024 industry practice changes, buyer's agent compensation is no longer advertised in the MLS and is instead negotiated directly between the buyer and their agent. Sellers can still agree to pay all or part of that fee through a concession, and it is simply one term of the deal you negotiate. Everything is documented in writing up front, so you know exactly what you are paying before you commit. Ask me how this plays out in today's offers on the selling guide page.

What happens if the inspection or appraisal doesn’t go as planned?

It happens more often than people expect, and it is a normal part of a real estate transaction. If an inspection finds problems, the next step is a conversation: the seller may fix, credit or adjust the price, or you can decide to walk away. A low appraisal is handled the same way, through renegotiation or a revised loan structure. I guide you through these conversations so you always understand your options.

Working With Joanne

Questions About How We Work Together

Do you help both buyers and sellers? What towns do you serve?

Yes, I represent both buyers and sellers across Chicago's South Suburbs and Northwest Indiana. I serve Frankfort, New Lenox, Mokena, Orland Park, Crete, Beecher and more in Illinois, and Munster, Highland, Dyer, Schererville, Crown Point, St John, Portage, Valparaiso and more in Indiana. Explore individual community guides for what it's like to live in each town.

Are you licensed in Illinois and Indiana? What does that mean for me?

Yes, I hold real estate licenses in both Illinois and Indiana, along with my Associate Broker designation. If you are moving across the state line, you work with one agent for the entire move instead of handing off to a second agent. That means one person who already knows your situation, start to finish. Learn more about moving between states on the relocation guide.

What does the buyer’s agent process look like?

It starts with understanding your goals, budget and must-haves, then a pre-approval so you know your range. Before the first showing you review and sign a buyer representation agreement that spells out how I am compensated, which is now standard practice across the industry. We tour homes, craft a competitive offer, negotiate, and guide you through inspections, the appraisal and closing. I explain each step as we go so you never feel lost or pressured.

Do I have to sign a buyer representation agreement before touring homes?

Yes. Since the industry practice changes that took effect in August 2024, a signed buyer representation agreement must be in place before an agent shows you homes. The agreement states how the buyer's agent is compensated, how long it lasts and what happens if you change course, and you always have time to review it before signing. I walk you through every line so you are comfortable before you put pen to paper. See the buying guide to learn what to expect at each step.

How do I know which REALTOR is right for me?

Ask about local experience, recent sales in your area, who actually does the work and what designations fit your situation. I am licensed in both Illinois and Indiana, hold the ABR, SRS and SRES designations, and you work directly with me from first call to closing. Client references matter too, and I am happy to share reviews from buyers and sellers I have guided. Read my story and what clients say on the reviews page.

What makes you different from other agents?

I am licensed in both Illinois and Indiana, hold the ABR, SRS and SRES designations, and bring an MA in Psychology to the personal side of a move. You work directly with me, not a team handoff, and I combine responsive, one-on-one service with modern marketing. My focus is helping you feel confident about your next move. Learn more about my story.

Life Transitions

Questions About Big Changes

Are you experienced with downsizing and 50+ homeowners?

Yes, and I hold the Seniors Real Estate Specialist (SRES), Seller Representative Specialist (SRS) and Accredited Buyer's Representative (ABR) designations. I help clients downsize, sell a longtime home and find a place that fits their next chapter without feeling rushed or overwhelmed. You can see how I support this work on the 50+ and downsizing page.

Are Indiana property taxes really lower than Illinois?

Yes, and the gap is a big reason people move across the state line. Illinois carries an effective property tax rate near 2%, among the highest in the country, while Indiana's effective rate runs roughly 0.75% to 0.85% with homestead taxes capped at 1% of assessed value. Indiana's 2026 tax relief also added a 10% homestead credit capped at $300. Exact numbers vary by county and exemptions, and I run this comparison for every client considering a cross-state move. Start with the relocation guide for a side-by-side look.

What’s it like to move from Illinois to Northwest Indiana, or vice versa?

Many clients move from the South Suburbs to Northwest Indiana for more home for the money and meaningfully lower property taxes, while others move the other direction for Illinois schools or a different commute. Since I am licensed in both states, I compare taxes, schools, commutes and lifestyle so you decide with confidence. Start with the relocation guide for a side-by-side look.

Do you work with military families and veterans?

Yes, and I enjoy helping service members and veterans put their VA loan benefits to work, which can mean a zero-down purchase with no monthly mortgage insurance. Moving on orders or selling while deployed comes with unique timelines and rules, and I navigate those details so the process stays calm. Your benefits and your timeline shape the plan, whether you are buying, selling or relocating. Learn more on the military and veterans page.

Can you help me find a dog-friendly home or a home near golf or the outdoors?

Absolutely. I can zero in on homes with fenced yards, nearby parks and pet-friendly layouts, and find you within reach of great golf and outdoor recreation. I have put together guides to dog-friendly homes, golf nearby and outdoor activities across the communities I serve.

Still Curious?

Still curious? Let's talk. No pressure, just answers.

Whether you're ready to start or just exploring, I'm here to help you make a confident next move.

Ask Me Anything Schedule a Call (708) 252-1490