Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form. [Read more…]
Total home sales in Chicago is down 2.6% from this time last year, though the median sale price is up 5.8% over the same period. Low inventory remains a problem. Market times have dropped from last year by 11%, as home buyers who are in a position where they need to move are still moving. This market reflects that optional move up buying has slowed.
Take a look at the market for the neighborhoods I serve. If you are thinking of making a move, or just curious, I can help you navigate the process with my objective, data-driven perspective and over 20 years of experience.
In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. [Read more…]
There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able to buy, and logic says prices will fall if demand decreases. [Read more…]
Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). [Read more…]
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? [Read more…]