Chicago Real Estate Blog
Financing Your First Multi Unit Property?
Published on September 25, 2018
Are you interested in buying a 2-4 unit property either as an investment property or primary residence? The process to purchase the home is similar to buying a single family home but there are some differences in the mortgage loan requirements. If you are considering purchasing a property, speak to a lender early. This conversation […]Read More
Negotiating Your Home Purchase Offer
Published on July 25, 2018
Understanding the home purchase offer process is a key part of the buying process. The purchase offer includes more than determining the selling price. As a buyer, you are also setting the terms that may make your offer more competitive or address your concerns in purchasing a specific property.Read More
Home Selling Process – Presentation is Important
Published on July 23, 2018
No one will argue that appropriate pricing is key in the home selling process. However, the presentation of your home for sale is also very important in attracting and keeping the attention of potential buyers. Otherwise, your pricing has to work harder. I am not suggesting that sellers be prepared to put forth an HGTV-style […]Read More
Buying Your First MultiFamily Home in Chicago
Published on July 9, 2018
Buying your first multifamily home can be a great option in Chicago. There is a large supply of available properties and these can be a great long-term investment vehicle. Residential multi-family properties were 13% of homes sold in Chicago in the last 12 months. Similar to the residential housing market overall, inventory of these homes […]Read More
Home Buying Process
Published on July 1, 2018
Looking for that perfect home or condo in the Chicago area? Understand the home buying process. Determine What You Want If you’re planning on buying a home or even a condo, there is one thing you should ask yourself, “What do I want?”. As you put together the picture of your dream home, think […]Read More
6 Home Buying Costs to Know
Published on May 29, 2018
There are 6 home buying costs that buyers should be aware of when preparing to search for their new home. These costs can be significant so you want to take them into account when starting your home search. Down payment – The days of no down payment are largely gone. Lenders expect you to […]Read More
The Truth About Chicago South Real Estate
Published on May 21, 2018
What is Really Happening in Chicago South Real Estate? What is the real truth about Chicago South real estate market? For Chicago as a whole, property values are almost recovered to levels reached 10 years ago. This is great news. There has been a boom in the downtown areas as well as those areas helped […]Read More
FHA Property Requirements for Appraisal
Published on May 3, 2018
FHA appraisals require repairs for conditions that rise above cosmetic defects, minor defects, or normal wear and tear. Appraisers must report ALL deficiencies. This information will assist your confidence that when a contract is accepted, property condition should not be a deal-breaker for you in terms of the appraisal. What Does the Appraiser Look for? […]Read More
Do You Need to Buy and Sell Your Home at the Same Time – Don’t Stress.
Published on April 26, 2018
Do you need to buy and sell your home at the same time? The process of buying your new home is way more complicated when you must sell your current home too. Many homeowners are either intimidated or confused about the process, but you can avoid some of the stress. The ideal situation, of course, is […]Read More
The Perils of Over Pricing Your Home to Sell
Published on April 11, 2018
“I Don’t Want To Give My Home Away!” In almost every conversation I have with potential sellers, the conversation begins with the line “I’m not going to give my home away!!” Despite comparable sales that clearly show a lower market value, sellers often resist lowering the price. However, in order to sell, you have to […]Read More
Are You Financially Prepared to Buy Your New Home?
Published on March 24, 2018
Are you financially prepared to buy your new home? There is a lot of emphasis put on the credit score when discussing financing qualifications. However, this is not your only concern in being financially qualified to buy. Down payment Most loans will require a down payment (except for VA and USDA loans). Know, however, that […]Read More
How to Avoid a Bidding War
Published on March 21, 2018
How to Avoid a Bidding War As a buyer in today’s market, you are likely to encounter at least one multiple offer situation when presenting your offers. In many neighborhoods and community in the Chicago area, the supply of homes is tight in relation to the number of buyers. Even in those communities where the […]Read More
Are You Planning to Sell Your Home This Year?
Published on March 14, 2018
Are you planning to sell your home this year? Market conditions are great for sellers. Chicago continues to experience a seller’s market. A seller’s market indicates more buyers in relation to the supply of homes available. The median sales price is higher and the days on market is lower. Of course, market conditions vary for […]Read More
Tax Advice for Chicago Homeowners 2018
Published on March 7, 2018
2018 is well underway and tax season is here! Tax deductions are definitely one of the benefits of homeownership that you don’t want to miss. If you have any questions on what items are deductible regarding your real estate transaction, my best advice is to consult your tax advisor or accountant. However, the most common […]Read More
Are You Planning to Buy This Year?
Published on December 22, 2017
Are you planning to buy this year? There are some steps you can take now to be ready to buy in the spring. Speak to A Mortgage Lender Speak to a mortgage lender now to see if there are any issues with your credit, debt levels or income. A good loan officer will outline any “tweaks” […]Read More
Is Your Landlord in Foreclosure?
Published on December 5, 2017
Is your landlord in foreclosure? Tenants are often taken completely unaware that the home they are living in is in foreclosure. One would hope that a landlord with an imminent foreclosure sales date would give notice to their tenants but …. Foreclosure Process in Illinois Each state has its own specific laws regarding foreclosure. Some […]Read More
Easy Home Improvements That Add Value and Appeal
Published on November 11, 2017
Many sellers don’t have the funds or inclination to do major renovations when selling their home. However, there are easy improvements that can add value and appeal. These improvements are fairly inexpensive but still make a difference in terms of market value and buyer appeal. Repairs may only cost you hundreds of dollars to fix but […]Read More
Tips for Home Sellers to Get to SOLD!
Published on October 20, 2017
Tips for Home Sellers There are several tips for home sellers that can help increase their odds of getting their home sold. Pricing your home appropriately and preparing it for buyers to view are the beginning. To get your home sold, however, sellers have other matters which need consideration. Pricing is Key One of the […]Read More
Closing Costs for Sellers
Published on October 20, 2017
To determine the bottom line from the sale of your home, you will need to factor in several items which will be deducted from the offer price of your home. Some of these items include the payoff of your mortgage loan, property taxes, and realtor commissions. Your realtor should be able to give you a […]Read More
How Is Your Credit Score?
Published on September 29, 2017
What goes into FICO® Scores? from FICO B2C Scores on Vimeo. Your credit score is not the only determinant of whether you qualify for a mortgage loan but it is an important one. Having a great credit score may also help you get better terms for your mortgage. However, many people are confused about how […]Read More
5 Tips to Improve Your Credit Score
Published on September 26, 2017
I remember years ago hearing a speaker talk about how credit scores are calculated. I never forgot this valuable information and, to this day, use that knowledge in talking to my home buyers. Improving your credit score is not an overnight process but once started it can really give you a sense of accomplishment. One […]Read More
Are You Getting the Best Mortgage for You?
Published on September 22, 2017
Are you getting the best mortgage for you? Mortgage lenders have minimum qualifying guidelines for getting a mortgage. Most of these guidelines are dictated by the government entities like Fannie Mae, Freddie Mac and FHA. The individual lender may also add its own layer of qualifying guidelines. These guidelines include such qualifying factors such as […]Read More
Sellers – Tips for Successful Short Sale
Published on September 15, 2017
The number of homeowners defaulting on their mortgage has declined significantly compared to a few years ago. However, a recent article states that the Chicago area has the lowest amount of home equity and the highest number of households that are underwater for big cities. This points to short sales continuing to be an issue […]Read More
Tips to Buying Your Chicago Condo
Published on September 7, 2017
Are you thinking of buying a condo in Chicago? The condo market in Chicago remains hot as companies continue to move from the suburbs to the city. There is also the draw of all the amenities and things to do in the Loop area. In addition, for those not wanting to deal with exterior maintenance, […]Read More
Avoid These Two Big Home Mortgage Mistakes
Published on September 1, 2017
We all know that searching for and viewing potential homes is the fun part of the home-buying process. The not-so-fun part? The home mortgage process. However, if you don’t pay attention to the details, your mortgage can end up dragging down the enjoyment of your new home and cause some major regrets. Here are a […]Read More
What to Expect in Your 2017 Home Search?
Published on August 16, 2017
Are you searching for a new home in 2017? What should you expect? Prices Have Risen The median sales price in the metropolitan Chicago area has risen 22% since July 2014 levels. However, despite concerns at the end of 2016, interest rates remain historically low. Many buyers this summer have purchased with rates under 4%. […]Read More
Have You Checked Your Cook County Property Tax Bill?
Published on August 3, 2017
The Cook County property tax bill was due August 1 this year. Unfortunately, Chicago homeowners may notice an increase in their property tax bill. Every three years, Cook County does a reassessment of property values and 2018 is the year for the city of Chicago. With the increase in property values in the last three […]Read More