Getting your home ready for winter
October 08, 2021
Making your home ready for winter, items to check every fallMake Sure Your Heating System is ReadyDepending on the type of heating system you have, there are a few home maintenance things you should do before the temperatures really start to dip. If you have a high-efficiency system, PVC vent pipes need to be cleared of any obstructions. And ...
Mortgage Applications Tumble as Interest Rates Spike
October 07, 2021
October 7, 2021A sharp increase in mortgage rates is causing home buyers and refinancers to pause. Total mortgage application volume, which includes home purchases and refinancings, dropped 7% last week compared with the previous week, the Mortgage Bankers Association reported Wednesday.The MBA reports that the average contract interest rate for a 30-year fixed-rate mortgage rose to 3.14%, ...
HUD TO ISSUE RULE PROTECTING TENANTS FACING EVICTIONS FOR NON-PAYMENT OF RENT IN HUD-ASSISTED PROPERTIES
October 07, 2021
HUD No. 21-167HUD Public Affairs(202) 708-0685FOR RELEASEWednesdayOctober 6, 2021WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it will publish a rule that prohibits the eviction of tenants facing eviction for nonpayment of rent from HUD-subsidized public housing and certain properties with project-based rental assistance without providing a 30-day notice period that ...
Why This Fall Is a Big Opportunity for Buyers
October 06, 2021
The housing market has been fiercely competitive over the last few months, but hopeful buyers who keep getting shut out may soon find better luck. Several signs in the housing market point to a potential opening to buy this fall, housing analysts say.For one, competition is reportedly cooling and listings are receiving fewer offers. In September, the real ...
End Of Virus Related Mortgage Forbearance Impact On Housing Market
October 06, 2021
End Of Virus Related Mortgage Forbearance Impact On Housing Market...
Chicagoland housing market stabilizes after unpredictable year
October 06, 2021
Chicagoland housing market stabilizes after unpredictable yearby Emily Mack September 29, 2021Although demand, and therefore prices, remains high, the end of the summer shows signs of stabilization in the local housing market. According to new data released by the Mainstreet Organization of REALTORS® , the time that detached single-family Chicagoland homes spent on the market during summer 2021 did not ...
Tips to Help Your Buyer Stand out in a Competive Market
October 06, 2021
Business has been booming in the Illinois Housing Market and it is not unusual to see multiple offers on properties. Whether we work in a small town, big city or with a team or all by ourselves, some aspects of real estate have changed because of the pandemic lo inventories and lower interest rates.Following are 5 ...
Why are so many people moving?
October 05, 2021
Have you noticed a lot of people are suddenly deciding to move? Here are some factors that can be causing the rise in moving and buyingDuring the pandemic lots of people lots of people found their lives had changed dramically. Some people found that they loved working from home and their employers agreed to let them ...
Mortgage Rates Back Above 3%. Will They Keep Rising?
October 04, 2021
The 30-year fixed-rate mortgage averaged 3.01% this week, posting a sharp rise after spending nearly four months below 3%. Economists expect mortgage rates to continue to increase modestly over the next few months.“Mortgage rates rose across all loan types this week as the 10-year Treasury yield reached its highest point since June,” says Sam Khater, ...
A supply Shock is about to hit the housing market
October 04, 2021
A supply shock is about to hit the housing market—the question is how big?BY LANCE LAMBERTSeptember 28, 2021 2:30 PM CDTHomeowners should've gotten more help back in 2008. At least that's become the consensus among economists in the decade since the financial crash and subsequent foreclosure crisis. It's also why Democratic and Republican lawmakers ...
Fall is here...Get ready for winter!
October 01, 2021
Fall is here...Get ready for winter!Fall is upon us. Here are some ways you can get your home ready for the winter in Michigan. Clean your guttersCheck your attic for insulation and add insulation if neededMake sure any exposed wood on the exterior is sealed or paintedCaulk anywhere needed around windows or doorsTuck point where needed on ...
Illinois Housing Sales August 2021
September 28, 2021
Sellers continued to reap the benefit of reduced inventory and keen interest in Illinois homes as statewide median prices rose 8.4 percent in August, according to data from Illinois REALTORS®.As the back-to-school season kicked off, homes sold in an average of 24 days statewide in August 2021, compared to an average of 46 days in August 2020. ...
Creating Curb Appeal
September 28, 2021
Someone said, “a stunning first impression was not the same thing as love at first sight. But surely it was an invitation to consider the matter.” This could not be truer than in selling a home. First impressions matter. Sometimes they are everything.Nothing sets the tone of a relationship or transaction more than first impressions. So, ...
Great Fall Gardening tips from HGTV
September 25, 2021
Fall Gardening To-Do List - HGTVI found this article on HGTV's website and thought it would be great to share since the Fall season is upon us.Treat your tools well and they will last far longer. Before you tuck them away for the winter, wash off crusted dirt and chemicals, to prevent rusting. Sharpen and oil your ...
Understanding HUD Counter Offers
September 21, 2021
This note will clarify, HUD’s “counter offer” to a bid. In this process, HUD informs you of the “net” required and give you a chance (but not an exclusive one) to make a new offer along with any other bidders. This is not the same as traditional real estate, as HUD is accepting other ...
Questions to ask your lender when financing a HUD Home
September 20, 2021
Questions to ask the Lender when financing your HUD Home.Not all Lenders understand how to finance a HUD Home. When the Lenders are not experienced, it can cost you time and or money, and ultimately, your dream home. Here is a list of questions that you should ask your lender, before moving forward with them as ...
More Listings Expected to Enter the Market
September 16, 2021
We have seen price appreciation the past 2 years in the double digits. A major reason for this is the shortable of available listings, and it's the reason why many buyers are frustrated by bidding wars in their search for a home.But we are seeing signs of relief. Active listings have gone up over the ...
Selling HUD Homes
September 16, 2021
When working with a potential buyer and they decide to purchase a HUD HOME it is key to remember that they are SOLD "AS-IS". Many of the homes have been neglected prior to HUD obtaining and preserving them in the state they are. As Agents it's imperative to review any and all documents associated to ...
10 BENEFITS OF SELLING BY AUTIONS!!!
September 16, 2021
10 BENEFITS OF SELLING BY AUTIONS!!!1. eliminates prolonged negotiations.2. creates a sense of urgency amongst buyers.3. exposes property to targeted potential buyers.4 sells property within a relatively short period of time.5. assures property will be sold at true market value.6. seller establishes the terms of the sale prior to the auction.7. the ...
FORECLOSURES
September 16, 2021
An estimated 1.75 million homeowners — roughly 3.5% of all homes — are in some sort of forbearance plan with their bank, according to the Mortgage Bankers Association. By comparison, about 10 million homeowners lost their homes to foreclosure after the housing bubble burst in 2008.WILL THOSE 1.75 MILLION HOMEOWNERS LOSE THEIR HOMES IMMEDIATELY?Not ...
5 WAYS TO MAKE YOUR PET DOG MORE COMFORTABLE WHEN MOVING
September 16, 2021
5 WAYS TO MAKE YOUR PET DOG MORE COMFORTABLE WHEN MOVING...
Report: Best Time to Buy Is Now
September 16, 2021
September 13, 2021Between Sept. 12 and Oct. 17, the majority of housing markets nationwide will reach their “sweet spot” with a higher number of homes for sale, lower prices, and less buyer competition compared with the average week of the year, according to realtor.com®’s Best Time to Buy Report. This week kicks off the best ...
Case Study: Occupant Negotiation and Relocation
September 16, 2021
Case Study: Occupant Negotiation and Relocation Client: Local Community Bank The ChallengeIt is an unfortunate reality, but rental scams are on the rise. In this situation, the scammers took advantage of a vulnerable family with special needs. The tenants were moved into a property illegally unbeknownst to them. To make matters worse, the property was under contract ...
Lender needs to know it is a HUD owned home
September 15, 2021
Few examples of why this is important:1. Is the loan the buyer is applying for require utilities to be turned on? If yes, are there plumbing challenges that will prevent this loan type. Is it possible they can switch to a FHA 203K or another loan that won't require utilities to be turned on?2....
UPDATED! 9 home financing programs to help buyers get into a home
September 15, 2021
Homebuyers often think they need 20 percent or more for a down payment, but the actual amount is often far lower and there are a variety of down payment assistance and mortgage financing programs available to make buying a home more affordable. If you are wondering how much home you can afford, this mortgage loan resources page offers ...
