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 Springtime home shopping is an outdated tradition, and following the herd could cost you opportunities.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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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...
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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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