K.M. Minemier & Associates is a certified Woman Owned Small Business (WOSB) engaged in full service real estate asset management and marketing.

HUD Articles

City of Jackson now selling vacant lots for new home construction

August 16, 2022

Posted on: July 28, 2022 Residents and developers looking for space to construct new homes can now consider properties in the City of Jackson.  The City’s Property Sales Program was recently expanded to include “buildable lots”. A buildable lot is a vacant lot or combination of properties that is large enough to accommodate the new ...

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McHenry County, IL Housing Market 08/15/2022

August 15, 2022

In July 2022, the median listing home price in McHenry County, IL was $325K, trending up 16.1% year-over-year. The median listing home price per square foot was $158. The median home sold price was $300K. Median Listing Home Price vs. Median Home Sold PriceHomes in McHenry County, IL sold for approximately the asking price on average in July ...

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Case Study: Offer Negotiation and Sales

August 15, 2022

Client: Co-operative BoardThe ChallengeOur client, a co-op board for a 36-unit residential building in Chicago, was in default on their loan and was referred to us by their bank, who was also a long-term client or ours. The co-op, which had been established over 80 years ago, was comprised of many members that had inherited their interest in the ...

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Investor Series – Renting or leasing out a property to own

August 15, 2022

This is one of many articles we will be writing regarding investing in Real Estate.  Today we’ll be looking at leasing or renting to own.  How it works and the pros and cons.Renting out a home is a good way to get cash flow from a property.  What happens when you want to sell ...

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6 ways to upgrade your outside space for under $100

August 15, 2022

1.  Paint your front door2.  Swinging chair or hammock.3.  Upgrade your Wi-Fi to reach outside4.  White noise of windchimes5.  Upgrade outside accessories.  New pillows, rug, solar lights and flowers.6.  Add a refurbished mirrow to create and illusion of space or light-as mentioned on realtor.com...

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Late Summer Clean Up

August 15, 2022

Where did summer go? Between vacations, entertaining kids, and spending time with family and friends, your summer projects may have been put on the back burner. Here are some late summer home maintenance tips to tackle before the kids head back to school.Paint: When was the last time you touched up the paint on your home’s exterior? ...

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Consumer Confidence in the Housing Market Down

August 15, 2022

Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by Fannie Mae.Just 17% of those surveyed in July said now is a good time to buy a home, down from 20% in June. Even more telling, however, ...

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Michigan Fastest Growing Areas and Trends

August 15, 2022

There are 7 communities in Michigan that have seen a considerable rise in both home prices as well as population.  1: Rockford - This city has seen a 13.9% year-over-year growth rated.  The home prices as compared to the same period a year ago are up 15.6%.  The average sale price is $370,...

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4 Reasons Why You Should Buy A Home Before School Starts

August 11, 2022

https://www.elend.com/2019/07/26/4-reasons-why-you-should-buy-a-home-before-school-starts/4 Reasons Why You Should Buy A Home Before School StartsIt’s no secret that the market is sizzling in the summertime. The longer days and warmer temperatures have buyers out and about, so sellers are smart to take advantage (reversely, many buyers shy away from this time of year to avoid the competition). But buyers also ...

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2nd chance for Homebuyers interest rates dip

August 11, 2022

https://magazine.realtor/sales-and-marketing/feature/article/2022/07/talking-points-to-calm-consumers-housing-bubble-fears ...

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Calming buyers fears

August 11, 2022

https://magazine.realtor/sales-and-marketing/feature/article/2022/07/talking-points-to-calm-consumers-housing-bubble-fears  ...

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TOP TIPS FOR BUYERS

August 10, 2022

TOP TIPS FOR BUYERS: 1) Take Time to get Preapproved.-Getting fully qualified beforehand makes a seller more confident in your offer and increases your odds of acceptance. 2)  Consider a Fixer Upper.-Many buyers are seeking move-in ready homes.  However, in an environment with low inventory, considering a home that needs minor cosmetic repairs may be ...

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What is an AS IS sale?

August 10, 2022

An AS IS sale typically means that the seller is not willing to make any repairs to the property or renegotiate the sales price due to repairs. This includes any repairs that are discovered during inspections or are required for appraisal. The property is being sold in its current condition. This type of sale is usually used with bank ...

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Illinois leads the nation in foreclosures in 2022

August 10, 2022

Illinois homeowners are most likely in the nation to be in foreclosure. The looming $2,100 property tax hike from Amendment 1 would make housing even more unaffordable.Illinois experienced over 14,000 foreclosures in the first six months of 2022, the highest rate in the nation.One in every 385 housing units – or about 0.26% of ...

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Updated Illinois Smoke Alarm Law

August 10, 2022

What is the Updated Illinois Smoke Alarm Law?Since 1988, all dwellings in Illinois have been required to have smoke alarms.In 2017, Public Act 200 was passed to update the Illinois Smoke Detector Act to reflect advances in technology.Come January 1, 2023, single and multi-family homes that are still using smoke alarms with removable batteries are required ...

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Tips for Your Basement Remodel

August 09, 2022

Having a finished basement is a great addition for just about any house. It can give you a place to relax, a play area for your children, or even additional bedroom space if you need it. Some people even use basement areas to create fully furnished workshops, craft rooms, and other furnished DIY areas so they’ll have comfortable ...

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When Will Home Prices Come Down?

August 09, 2022

As the market continues to shift, more and more questions are being asked about how home prices will behave in the coming months. Will home prices continue to rise, or will they finally start to come down? If you’ve been interested in selling your home and/or buying a new one but have been intimidated by the fast-moving market, ...

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‘Home Sellers Were Spoiled’: 5 Rude Awakenings To Brace For If You’re Selling Your Home Today

August 08, 2022

 By Tara MastroeniAug 8, 2022For the past two years, real estate has been in a raging seller’s market. Sellers have been able to expect offers well over the asking price, frantic bidding wars, and few if any strings attached. They’ve basically been able to name their price and get it, with some extra to spare.But ...

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Is the housing market in a recession? Here’s what economists are saying

August 06, 2022

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Where to turn?

August 04, 2022

Where to turn?Buyers and sellers today are receiving so much conflicting information.  They hear the market is slowing, and yet some homes have tons of showings and multiple offers.  Buyers may think when they hear of a slowing market that now is the time to lowball.  Sellers think that the offer prices will still be ...

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Mortgage applications inch up for the first time in five weeks

August 04, 2022

Mortgage applications inched up last week for the first time since June 24. Total mortgage demand increased 1.2% as the average 30-year fixed mortgage rate made the largest weekly drop since 2020.Applications to refinance a home rose 2%, according to the Mortgage Bankers Association, but the annual drop was still huge, down 82% since last year.Applications ...

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MUST-HAVE TOOLS FOR HOMEOWNERS

August 02, 2022

When you own your home, things are going to break and, unless you want to spend your money on visits from a neighborhood handyman, you’re going to need to fix them yourself. Luckily, you don’t need an arsenal of tools to handle most home maintenance fixes. These five tools will cover most of your basic projects.Cordless ...

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Buyer interest creeps upward as mortgage rates inch down

August 01, 2022

Buyer interest creeps upward as mortgage rates inch downRedfin's Homebuyer Demand Index increased 15 points since June 15, reversing 10 straight weeks of decreasing demand that started in mid-April.A recent half-point drop in mortgage rates could be drawing some buyers back to the market, according to a new report released Thursday by the online brokerage Redfin.The ...

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What Buyers Should Know about Current Interest Rate Hikes

July 29, 2022

Home buyers and Realtors alike have been concerned about the Federal Reserve raising it's interest rates this year.  Here are some important things to keep in mind:There is a purpose to these rates increases, which is to balance out the economy and fight inflation.  Also, when the Feds raise interest rates, it's important to remember ...

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What is a HUD home?

July 28, 2022

What exactly is a HUD owned home and how can I purchase one? A HUD home is a house that has been foreclosed on that had buyers that originally used FHA insured financing to purchase the property. The homeowner could not make the payments for whatever reasons and the lender was forced to foreclose on the house.  HUD ...

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