Case Study: Receivership and Probate Services
January 13, 2022
Client: Nationwide BankThe ChallengeWhen a condo building in Chicago failed and the Association ran out of money, Parkvue Realty was retained to stabilize the defunct property that was in transition. The building was converted into condos from apartments and the majority of buyers were investors. Therefore, the building was largely tenant occupied. There was significant deferred maintenance and no ...
HUD KEYS and why you can't have them
January 12, 2022
Hud Keys and Why You Cannot Have Them.Hud keys have never been given out at closing. EVER. And they never will be. Hud Keys are a secure key system, designed to keep everyone safe. The Contractors, Realtors, HUD Staff are moving in and out of these homes every day. We keep these key ...
Radon Gas What You Should Know
January 12, 2022
Radon is the 2nd leading cause of lung cancer after smoking. Testing is the only way to determine if a home has an elevated level of Radon. The EPA estimates 1 in 15 homes in the US have unsafe levels of Radon. Radon is a colorless, odorless and tastless radioactive gas formed by the breakdown of uranium found in ...
Advantage of Shifting to Virtual Meetings
January 12, 2022
Virtual meetings save time and money and increase safety by eliminating travel expenses and driving tome. More members are willing to volunteer for virtual meetings creating a larger pool of potential panel members. Virtual meetings provide easy access for members of the public to participate as complainants and witnesses. Participants seem much less nervous attending in their own ...
In the Market for a New Home?
January 12, 2022
There are some fantastic deals on HUD-owned properties in our market. However, these homes can be a challenge to find online, and I would love to get to work helping you find the best-priced homes. When are you planning to move? C.R.M. EnterprisesDelivering Results708-966-9282hud@chrishamitchell.com www.searchchicagohomesforsale.com Equal housing opportunity....
Upgrading with R.O.I. in Mind
January 11, 2022
Making upgrades can be as easy as replacing the handset on your front door or as daunting as remodeling a kitchen or bathroom or even repainting the entire house. The question is always what home improvements give the best return on the remodeling dollar?Return on Investment (ROI) is generally less than 100% in real estate, so the rule ...
Rent or Buy a Home getting complicated
January 10, 2022
https://www.cnbc.com/2022/01/06/should-you-rent-or-buy-a-home-the-answer-is-getting-more-complicated.html...
New Year, New Home: How to Get Yourself into a New Home in the New Years
January 10, 2022
New Year, New Home: How to Get Yourself Into a New Home in the New YearsPlanning to buy a new home in the new year? Start now.Getting a jump on the housing market could help you buy sooner, smarter and cheaper.“The advantage to starting early is you can get your ducks in row,” ...
Mortgage Rates Higher Than at Any Point in 2021
January 10, 2022
Mortgage rates have taken a big leap at the start of the new year. In the first week of 2022, the 30-year fixed-rate mortgage jumped nearly 60 basis points higher than a year earlier, averaging 3.22% this week, Freddie Mac reports.“Mortgage rates increased during the first week of 2022 to the highest level since May 2020 ...
How to improve design in small spaces !
January 09, 2022
Micro-apartments are the next trend in city living. In larger cities such as New York or San Francisco, people have been used to living in cramped quarters for decades. Now, emerging cities from Seattle to West Palm Beach, Florida, are claiming small apartments as the new housing prototype.You would think designing small spaces is easy because there is ...
Real Estate in the snow
January 06, 2022
Real estate in the snow!If you have a home you are marketing in the winter, sometimes showings can be an issue! Ask your sellers to make sure all walks are shoveled, walkways are salted and free of ice. It can be very helpful if the sellers have pictures of their back and front yards taken during ...
Here’s Where Home Prices Are Headed in 2022, According To Experts
January 06, 2022
Yahoo! NewsBy: Jennifer Taylor - Sunday, January 2, 2022No doubt about it — the real estate market has been white hot in 2021. But if you didn’t make a move this year, and you’re thinking about buying or selling — or both — next year, you’ll want to know what to expect.As of Nov. 10, ...
Understanding Insured and Uninsured Properties
December 31, 2021
All HUD homes are appraised by FHA roster, local appraisers. This report is where the information regarding the FHA Insurability is determined. FHA sets Minimum Property Requirements (MPR). These are the standards the appraiser uses to determine if a property meets insurability requirements for an FHA loan.IN = Insured. Property meets FHA standards ...
Mortgage rates dip due to Omicron
December 28, 2021
Mortgage rates dip as Omicron variant triggers market volatility30-year mortgage rates fell to 3.05%, down 7 basis points from the week prior, according to Freddie Mac’s most recent lender survey, released Thursday.Buyers who locked in mortgage rates this week got a bit of a reprieve as they continued to race to get ahead of the long-term ...
HUD Special Discount Programs
December 22, 2021
HUD has several special community-based programs, one of which is the Neighbor Next Door Program. HUD describes the program as "Buying a home through HUD's Good Neighbor Next Door initiative is designed to encourage renewal of revitalization areas by providing an opportunity for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes in these ...
Safety first, when showing a Hud Home
December 20, 2021
Winter SafetyPlease consider that safety is a major concern in the winter months, especially when showing a foreclosed home. As it gets colder, sometimes the homeless break into these properties to find a warmer place to sleep. Before entering a foreclosed home, it may be a good idea to do a physical inspection of the outside of ...
Renting vs Owning
December 20, 2021
RENTING vs Owning:Renting: 1) After each payment, that money is gone. 2) Can't make any changes to the property. 3) Rental prices can go up with lease renewals. 4) Your paying a mortgage, just ...
What Would A Rate Increase Mean For You?
December 15, 2021
Higher interest on home mortgages means higher monthly payments. Don't let a rate increase price you out of your next home. https://Higher interest on home mortgages mean higher monthly payments. Don’t let a rate increase price you out of your next home.Give me a call today so we can find the perfect fit for you ...
Investor Series – What is House Hacking?
December 15, 2021
This is one of many articles we will be writing regarding investing in Real Estate. Let’s focus on a commonly misunderstood phrase in the industry: House Hacking.House Hacking simply means using other people’s money to help you pay off your home loan. Let’s say you bought a nice 3 bedroom home. ...
Here’s How Inflation Is Affecting Home Prices: What Buyers and Sellers Need To Know Right Now
December 15, 2021
By Janet SirotoDec 2, 2021EnvelopeFacebookTwitterLinkedinPinterestInflation is a red-hot topic right now, and for good reason: In October, the annual inflation rate rose to an alarming 6.2%. That’s the highest it’s hit since November 1990, over 30 years ago, and a steep uptick from the manageable 2% that we’ve enjoyed for the past five years.Translated ...
Big Jump in Home Values in the Past Year
December 15, 2021
Due to tremendous buyer demand for homes and limited inventory, home values have significantly increased. According to the Federal Housing Finance Agency, FHFA, the rate of appreciation in the MSA’s we serve increased over the past 5 years between 18.76% - 22.6%. Even more impressive is the increase in the prior 12 months which ranges from ...
HUD HOME BUYERS
December 15, 2021
HUD HOME BUYERSAre you a Buyer looking to purchase your first HUD HOME. First things first, head to www.hudhomestore.com and see what properties are available in the area you are looking into. Take a moment or two and gander over the website. So much useful information is available regarding HUD Homes and the process. Buyers ...
Secrets to Buying a HUD home
December 15, 2021
1. Have your money lined up.2. Pick the location.3. What price range.4. Who will renovate.5. How to pay subcontractors.6. How much time to renovate.7. How many projects can you handle.8. Do you have accounts with local vendors.9. Will you subcontract ...
Why You Need A ‘Dream Team’ When Buying Your Home
December 15, 2021
We’ve all heard the phrase that ‘teamwork makes the dream work’. Well there aren’t many much bigger dreams that the average person has than of one day owning their own home. So when it comes to buying a home, will doing it all on your own (or just you and the internet) be enough ...
Year End 2021 Real Estate News
December 14, 2021
As the year comes to an end for 2021, the average homeowner has continued to gain home equity as home prices have seen a record growth level in more than four decades. Per Corelogic reports, between the end of 2020 and now 2021 the average home gained about $57,000 in equity. The average sale price ...
