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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StartingPoint Realty, Inc., Named Among Top 1% of Sales Teams Nationwide
StartingPoint Realty, Inc. stands among an elite group of top-performing real estate sales teams, according to 2017 transaction statistics compiled by REAL Trends and as advertised in the Wall Street Journal. The teams in REAL Trend’s list of “America’s Best Real...
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The Best Chicago Suburbs to Live in Right Now
Whether you’re living in Chicago or are making a move from out of town, it’s important to research potential cities before making a move. As experienced real estate agents in Chicagoland, we know a thing or two about the best Chicago suburbs. From top-rated schools,...
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5 Signs You’re Ready to Stop Renting and Buy a Home
There’s a lot of conflicting advice when it comes to renting versus buying. While renting offers a flexible way of living and the opportunity to easily move from place to place, homeownership allows you to establish roots and build equity in your property. It can even...
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Stressed by Home Buying? You’re Not Alone!
The stress of buying a home can be significant, feeling much like a job interview or a college entrance exam, according to a recent study by Homes.com. In a survey of 2,000 U.S. home buyers, about 40% reported home buying as "the most stressful experience in modern...
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Chicago Homeowners Are Financially Ahead of Renters
Chicago homeowners are in better financial shape than renters when it comes to monthly cash flow, according to a study by PropertyShark and RENTCafe. The study examined the median incomes, monthly living expenses and the housing costs of homeowners and renters in 50...
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Chicago Home Buyers Still Facing Limited Inventory
If you've been a little frustrated by your Chicago home search, you're not alone. According to Crain's Chicago Business, the inventory of single-family homes dwindled down to 3.8 months of supply during June. A year ago, single-family home inventory stood at 5 months...
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Big Decisions for Your Chicago Home Search
Buying your first Chicago home involves a great deal of decision making! While you may feel daunted by this, you can take a lot of fear and uncertainty out of the home buying process with some advance planning. Once you have attended a first-time home buyer seminar...
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What to Do in a Multiple Offer Situation in Chicago Real Estate
StartingPoint Realty is back with the latest update from the Chicago area real estate market! Sales may be down, but interest rates are rising and demand is still high! We're providing buyers and...
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Making the Right Offer when Buying a Chicago Home
The list price of any Chicago home is seldom absolute. The actual sales price that seals the deal could be well above, or below, the original list price. So, once you've found the right home, how much should you offer for it? There's no simple answer to this...
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What First-Time Home Buyers Shouldn’t Reveal to a Seller’s Agent
As a first-time Chicago home buyer, you'll be excited, and maybe a little nervous, as you tour homes for sale. Whether you're at a scheduled showing, or visiting open houses and model homes, you'll probably meet the seller's agent. This person will be listening to...
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Does Home Ownership Make You More Appealing?
Just when you thought you've seen it all in real estate surveys, out comes a report by Unison and Atomik Research that changes everything. Turns out, home ownership is sexy! The survey focused on feelings about home ownership. It included what prospective buyers were...
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Should Home Buyers Pay Points on a Mortgage?
As mortgage interest rates creep up, the question of paying points on a mortgage is popping up again. You might already notice mortgage rate advertisements saying something like, "30-Year Fixed Rate Mortgage, 4.35% with 1 point!" Ok, great, but what the heck is a...
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Chicago Home Buyers Should Consider Resale Value
According to Crain's Chicago Business, those who bought homes in the northwest neighborhoods right after the recession are the most “equity rich” in Chicago. "Equity rich" is loosely defined as having at least 50% equity in your home. But only about 15% of Chicago...
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Debt Load Increasing for Home Buyers
Chicago is among the most affordable cities for home buyers in the U.S., but that doesn’t exclude us from the trend of rising home prices and higher interest rates. Home buyers need to think long-term before stretching their budgets!
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