Most Homeowners Are Pretty Darn Happy
Earlier this year, we talked about home buyer remorse and the most common regrets buyers have expressed. While buyer's remorse can happen, it shouldn't overshadow the fact that most homeowners are darn glad they bought a house - and the vast majority would not return...
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Mortgage Rule Change Could Help Chicago Condo Buyers
If you are buying a Chicago condominium in the near future, there's good news - the Federal Housing Administration is going to make mortgages easier to approve for these purchases. This is encouraging for first-time home buyers who found themselves practically locked...
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3 Market Indicators Chicago Home Buyers (and Sellers!) Should Know
Real estate professionals love statistics! Most of the statistics you see in the news talk about average home sale prices and the number of home sales taking place. While these are insightful metrics, there are three more statistics that are very useful to Chicago...
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Chicago Named One of the Best Cities for Home Buyers
Quick quiz! Name a major U.S. city with global culture, world-class entertainment, a variety of industry, a vast waterfront, excellent public transportation and affordable housing! The answer is...Chicago! Yes, that's right! While Chicago has big-city amenities and...
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3 Reasons Chicago Home Buyers Need a Mortgage Pre-Approval
The Chicago real estate market is less frenzied this year, and buyers may be tempted to take shortcuts in the home buying process. But there are three good reasons why a mortgage pre-approval remains essential! 1. A mortgage pre-approval will evidence any significant...
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Common First-Time Home Buying Challenges Faced by Millennials
Millennial home buyers have caught some bad press over the years for being late to the home buying party. But as any adult under the age of 40 can probably tell you, the housing market hasn't given them an even shake. Here's a look at some of the real challenges young...
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Slowing Home Price Growth Good News for Chicago Buyers
The Chicago real estate market is slowing down as home buyers balk at pricey properties. Single-family home values increased just 1.8% in April 2019 in the Greater Chicago area, according to the S&P CoreLogic Case-Shiller price index. Narrowing it down to the City...
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What Cook County Homeowners Should Know About Property Tax Assessments
Cook County will be re-assessing property values throughout the north and northwest suburban area during 2019. Adjustments to property value assessments are performed once every three years. If your home has increased in value since the last assessment, due to...
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First-Time Home Buyers Could Face Tougher FHA Mortgage Underwriting
Mortgages secured by the Federal Housing Administration could become harder to get for some first-time home buyers. FHA loans have long been the popular choice for first-time buyers, because they allow low down payments, lower credit scores and higher debt-to-income...
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What Chicago Home Buyers (and Sellers!) Should Know About CLUE Reports
You may not realize it, but insurance companies have a shared database that they use to determine what kind of risks that you, and your property, present to their business. This database is called the Comprehensive Loss Underwriting Exchange, also known as C.L.U.E. ...
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Cook County Homes Among Most Affordable for Home Buyers
Chicago homes aren't exactly cheap. But compared to other major U.S. cities, home prices in the Windy City are generally within reach of household earning power. Here's the research from ATTOM Data Solutions, as published in Crain's Chicago Business, along with our...
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Home Buyers Looking for Modern Amenities and Energy Efficiency
Home buyers prefer energy-efficient homes with modern amenities and low-maintenance features, according to the latest survey by the National Association of Home Builders. The survey included responses from about 4,000 home buyers nationwide. We’re sharing highlights...
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First-Time Home Buyers Gain Market Share
First-time buyers purchased 2.7 million homes nationwide during 2018, and they are predicted to influence the market throughout 2019. A study by Genworth finds that first-time buyers have been gaining market share for the past 4 years. We've been helping first-time...
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Home buyers are borrowing from the Bank of Mom & Dad
Parents are drawing heavily from their own financial reserves to help their adult children become homeowners, according to a study published by Legal & General Group, a multinational financial services company. The study summarizes the level of home buying help as...
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Top Regrets of First-Time Home Buyers
If you're a first-time Chicago home buyer, you might be anticipating all the great things about home ownership. Things like, the chance to build equity and control your own living space. But home ownership is a long-term commitment, and buyers can be under-prepared...
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Slower Chicago Home Sales = Opportunity for First-Time Buyers
The numbers are in, and Chicago area home sales ended 2018 at a slower pace. According to Illinois REALTORS®, December home sales declined 16.5% in the Chicago Metro Area, compared to December 2017. This is a broad statistic that includes transaction volumes for...
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First-Time Buyers Shouldn’t Fear the Fixer-Upper!
The problem with holding out for an Instagram-worthy home, is the fact they cost a lot more. The home seller is reaping the benefit of all those shiny upgrades when they collect their sales proceeds. Meanwhile, you’ve likely paid top dollar, and you won’t have quick ways to build equity.
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More First-Time Home Buyers Turning to Co-Signers
First-time home buyers can face challenges when it comes to mortgage approval. For example, if you're a young adult, you typically have a shorter career history and fewer cash reserves than your Gen-X or Boomer-generation peers. Your credit history may be lean. In...
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Family-Friendly New Year’s Events in Chicagoland!
Ring in the New Year at one of these family-friendly events in Chicago and the Northwest suburbs! There's something for kids of all ages. Reservations and tickets may be required; we've included links to more information in the list below! Chicago Riverfront...
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Chicago home buyers shouldn’t give up on the market
If the entire home buying process has given you battle fatigue, don't quit just yet! Chicago home inventory has improved in the past few months, especially for townhomes and condos. And while interest rates are up a bit from last year, the difference is only about 1%,...
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2018 Holiday Events in Chicago and the Northwest Suburbs!
Ready or not, the holiday season is here! Whether you’re looking for bright lights in the big city, or hometown traditions, these holiday events in Chicago and the Northwest Suburbs will cheer the whole family! Mark your calendar, and check the links we’ve included...
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Buying vs. Renting in Chicago and Arlington Heights
Does buying a Chicago home still offer a better value than renting? Let's consider what's changed in recent months. According to Illinois REALTORS®, Chicago Metro area home prices increased by an average of 3.9% on a year-over-year basis*. Meanwhile, mortgage interest...
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How Interest Rates Affect Your Home Buying Power
Buying a Chicago home has become more expensive, and it isn't just home prices at work. While Chicago median home prices increased by 4.5% in September*, mortgage interest rates are becoming a big part of the story. Here's why! As of October 25, 2018, the average...
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Why Chicago Home Buyers Shouldn’t Stretch the Truth on Mortgage Applications
As mortgage underwriting becomes increasingly automated, desperate home buyers might think they have nothing to lose by cheating the system. But even if a home buyer manages to make it through closing using fraudulent info, they’re likely to get caught somewhere down the road.
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Do These 5 Things Before Buying Your First Home
From the very first steps to closing day, StartingPoint Realty will guide you every step of the way. In the meantime, do these five things before buying your first Chicago home.
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