Millennial Renters Daunted by Chicago Home Prices
Chicago area home prices aren’t as steep as other major U.S. cities. But for some first-time homebuyers, they’re still too expensive.
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Chicago and Midwest Real Estate Among Best Markets for Sellers
Chicago and Midwestern real estate has become a hot commodity, according to an analysis from property management and investment company Mynd Management. Out of the top twenty real estate markets in the U.S. for home sellers in 2020, nine of them were in the Midwest.
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Chicago Suburbs See Home Buying Surge
Chicago area home buyers displayed a preference for suburban homes during 2020, and the trend will probably stick around for a while. Here's a look at what 2021 will bring for home buyers! Suburban home buying competition. As urban events and attractions shut down and...
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Chicago Needs More Home Sellers in 2021!
While Chicago home buyers snapped up available properties, median home prices posted a year-over-year increase. The median home price in the Chicago Metro area reached $274,050 in October 2020, representing a 14.2% gain from October 2019.
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Chicago Area Home Sales Keep a Fast Pace
Chicago Area Home Sales Keep a Fast Pace Chicago area home buyers are staying determined! The latest home sales report from Illinois REALTORS© shows robust September sales activity. Here’s how Chicago area home prices shaped up! The Chicago Metro’s median home price...
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Bigger is Better for Chicago Suburban Home Buyers
Pandemic-induced home preferences are driving more buyers to the 'burbs. With work-from-home sticking around, and remote learning offered at most schools, Chicago home buyers need square footage like never before. Yard space has also become more important to home...
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Chicago Area Real Estate Sees Busy Summer
Chicago area real estate didn’t stop for anything this summer. Despite a season of negative headlines and economic uncertainty, we have busy transaction volumes and higher home prices
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Millennial Home Buyers Fare Better in Chicago
Millennial home buyers have struggled against high student debt loads, rising home prices, the Great Recession and now the pandemic. But here in Chicago, Millennial home buyers are doing better than most of their counterparts around the country. This insight...
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Chicago Home Buyers Should Look for Homes with Potential
Chicago home buyers haven't had it easy. Home prices have been rising while home inventory has been shrinking. When a home in your price range becomes available, being too picky can mean missing out on the opportunity to become a homeowner. This doesn't mean you...
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Chicago Home Sales Picking Up the Pace
The Chicago real estate market has been surprisingly stable despite the tumultuous first half of 2020. So far, first-time home buyers are looking at conditions that aren't too different from a year ago. If anything, the market appears to be moving quicker! ...
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Chicago Home Buyers are Staying in the Market
Chicago home buyers haven't let the pandemic discourage them from home ownership! During the month of April, we continued to write new purchase offers. Meanwhile, most of our transactions from March have closed or are on schedule to do so. Only two of our contracts...
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Chicago Home Buyers Face Fast-Changing Market
A lot can happen in a month. In February, the Chicago real estate market was gearing up for a busy spring, with median home prices showing a 6.6% increase from a year ago. But during March, optimism faded as the spread of COVID-19 disrupted everything. At the time of...
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The Peak Chicago Home Buying Season is Here!
If you’re waiting for spring to buy your first Chicago home, stop waiting! Springtime home shopping is an outdated tradition, and following the herd could cost you opportunities. Here’s a few reasons why!
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New Credit Score Tips for Chicago Home Buyers
For first-time Chicago home buyers, good credit is a must. Your credit score affects the mortgage offers you'll receive, and affects how much you'll pay for homeowner's insurance, too! But creating and keeping good credit can be tricky, especially when FICO changes up...
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What Chicago Home Buyers Can Expect in 2020
Chicago real estate had a pretty good year during 2019! On a year-over-year basis, median single-family home prices increased by 4.0% as of November 2019. Homes spent an average of 43 days on market, setting a brisk pace for sales in entry-level price ranges. But...
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Plan Now for Your Chicago Home Purchase
If you're hoping to buy your first Chicago home in the upcoming year or so, you should start planning today! Home buying isn't an overnight process, and the better prepared you are, the better your chances of success. Here are steps you can take now to make your home...
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Improving Equity in Your Chicago Home
When buying your first home, you may not be thinking about building equity. After all, you have your hands full with the Chicago home search, the mortgage approval process and myriad closing details. Future equity doesn't seem as important. Yet the perfect time...
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5 Reasons to Buy Your Chicago Home During Fall!
When the days are shorter, the weather is colder, and mortgage interest rates are below 4%, conditions for buying a Chicago home are darn near perfect. Statistically, fall is the best time to be a home buyer, and these are the top reasons why! 1. Less...
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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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