Greater Chicago Real Estate News

Aug. 4, 2022

Join Us for Ice Cream & Good Company

 

 

You’re invited to our annual ice cream social on August 27 at Triple Scoop.

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Are you ready to beat the summer heat with a tasty frozen treat? If so, we’re excited to announce you are once again invited to our annual ice cream social! Join us on August 27 from 3 p.m. to 5 p.m. at Triple Scoop (801 Devon Ave, Park Ridge) to hang out and enjoy some excellent ice cream options. Our team can’t wait to see you there!

 

If you have any questions or real estate needs, don’t hesitate to call or email us. We’d love to hear from you. Hope to see you on August 27!

 

Posted in News
July 19, 2022

4 Critical Reasons Why You Need an Agent

 

The latest news about the shifting Chicagoland real estate market.

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We’re currently experiencing a market shift. While it may sound appealing to try to sell your home on your own, having a professional on your side is now more important than ever. Here are the top reasons why you want to hire an agent, especially now that we're in a shifting market: 

 

1. Your agent can help you navigate through the market. Whether there's low inventory, rising interest rates, or an economic downturn, you need an expert who works in the field and has local market knowledge to help you sell successfully.

 

2. Real data. Most people get their data from the news, but the media is known to distort and exaggerate information. The news is also typically on a national level. However, you're buying real estate locally and not nationally, so you need hyperlocal data. 

"An agent can help you stay logical."

 

3. An agent helps you understand real estate laws and information. An agent can help you make sense of the laws and information involved in real estate transactions as you deal with an attorney or lender. 

 

4. You will have an expert to communicate with throughout the process. A great agent can help you stay non-emotional and logical. Emotions can cloud your logical thinking, making the home buying or selling process personal rather than transactional.

 

If you need help with your real estate plans or have questions regarding this topic, don't hesitate to call or email my team or me. We'll be happy to help!

Posted in Real estate
July 5, 2022

What Does the Changing Market Mean for You?

 

 

The latest news about the shifting Chicagoland real estate market.

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We are now in the summer market, and things are changing. Today I’ll go over what’s happening in the Chicagoland real estate market.

 

Our market has stalled somewhat. Interest rates and the cost of living are rising. Meanwhile, the financial markets have taken a hit. What does that mean for our market? In times like these, people tend to contract and be more wary with their finances. 

 

You can think about it like the first day it snows. People stall and don’t want to go outside, but things go back to normal after a few days. I believe that our market will slow down over the next 18 months. Things have stalled right now, but the market will start to pick up. Keep in mind that summer tends to be slower even in a normal market.

 

Stay tuned for more market updates, and if you have any questions, don’t hesitate to reach out to me by phone or email. I look forward to hearing from you.

 

Posted in Market Update
June 7, 2022

Buyers: Join Us on June 14 for Our FREE Seminar

 

Here’s what you need to know about our June 14 FREE homebuyer seminar.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation

 

With the recent rise in mortgage interest rates, we’re starting to see a bit of a slowdown in the real estate market. If you're still interested in buying, I have good news to share with you today. Next week, our team is holding a very important and relevant homebuyer seminar titled “How to Successfully Buy a Home in Time of Recession.” 

 

Join us on June 14 from 6 p.m. to 8 p.m. in the Radmacher Room at the Skokie Public Library (5215 Oakton St. Skokie, IL 60077) for a better understanding of how much to save, how to budget, and how to strategize your home purchase in this competitive market.

 

Xochitl and Don from my team will be hosting the seminar, and they can't wait to share their expertise with all of you. You can register here. If you have any questions in the meantime, don't hesitate to reach out via phone or email. We look forward to hearing from you soon. 



Posted in Real estate
May 9, 2022

How To Buy and Sell Simultaneously

Here are three tips to help you buy and sell simultaneously in this market.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation

 

A lot of clients we’re working with are buyers and sellers simultaneously. The concern in this market is that it’s relatively easy to sell but very difficult to buy due to a lack of inventory. Here are a few tips to help you out:

 

1. Don’t start looking for a new home until you’re under contract. It’s highly unlikely that a seller will accept a contingent offer, so you’ll need to sell before you buy.

 

2. Adjust your closing date. Put some language in your selling contract that gives you something like 30 days to close from the time you find a new property.

 

3. Be prepared to go above and beyond. You're competing against multiple buyers, and they’re making aggressive offers to win. That’s what you’ll have to do as well.

 

These are my best tips for those of you who need to buy and sell a home at the same time. If you have any questions or want to know how to start the process, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Posted in Real estate
April 21, 2022

How Inflation and Rates Affect Our Market

How heightened inflation and interest rates are affecting our market.

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What does the increase in inflation and interest rates mean for our real estate market? Interest rates are currently hovering around 5% and will continue to rise. However, the escalation of rates hasn’t affected our market much yet. You would think that with interest rates growing, home prices would be trending downward, but we’re not seeing that, and I don’t think we will for quite some time. That’s because our exceedingly low inventory is driving this market, and demand is greater than the supply.

 

The larger issue is inflation; we have the highest inflation rate we’ve seen in decades. The question we still have is how the world economic situation will impact us, and as time goes on, we’ll have more answers. I’m curious to see what happens within the next year, and I’m sure you are as well. I’ll keep you updated on what you need to know.

 

If you have any questions about our market or real estate in general, call or email me. I would love to be your real estate resource.

Posted in Market Update
April 4, 2022

What Do Rising Rates Mean for Our Market?

Here are two ways rising interest rates are affecting our market.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation

 

Now that we’re in April, what’s happening in our real estate market? Interest rates are increasing, and we’re starting to see the effects on housing. Today we want to discuss two ways rates are affecting our market:

 

1. Appraisals issues. These have been happening for a while, but they have gotten worse as interest rates increased. When an appraisal comes in below the agreed-upon price, the buyer will need a backup plan to come up with the difference. If you want to know what your options are in this situation, please reach out to us. We’d love to discuss the topic further.

 

2. Buying power decreases. As rates increase to combat inflation, the average buyer's affordability will go down. If you’re looking to sell, this means it’s time to put your foot on the pedal and get under contract. For buyers, our advice is the same thing. It may be worth it to pay extra now so that you can take advantage of our good rates.

 

If you have questions about today’s topic, please call or email us. We are always willing to help!

Posted in Market Update
March 15, 2022

A Quick Market Update as We Head Into Spring

As we head into spring, what’s happening in our housing market?

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It’s hard to believe, but we’re only a week or so away from spring. That means the busiest time of the year in the housing market is right around the corner. What’s happening in our market as we head into this crucial time?

 

The story of our market continues to be the incredibly low inventory. The bad news is that it doesn’t look like things will get better anytime soon; in fact, they’re getting worse. This is true for both the selling and rental markets, so if you are looking to put a home on the market, now is the time. Less competition for you means more money in your pocket. 

 

This is great news for sellers, but what if you need to buy a new home after you sell? The buying market is tough, but we have strategies to make the transition from seller to buyer easier. Reach out to us if you’d like to know more. 

 

Whether you’re looking to buy or sell, we can help. Just give us a call or send us an email. We look forward to hearing from you! 

 

 

Posted in Market Update
Feb. 14, 2022

Client Event at Sweet and Tart

We’re excited to be having a client event at Sweet and Tart on March 6.

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Selling a home? Click here for a FREE Home Price Evaluation

RSVP Here

 

I’m very excited to announce that we’re having our first client appreciation event in two years. It's been a while since we've gotten together with everyone we've had the good fortune to work with. You and any guests you want to bring are invited to Sweet and Tart in downtown Park Ridge at 112 South Prospect Ave in the private room on March 6 from 2 p.m. to 4 p.m. It’s going to be an in-person event, but we also have grab-and-go options. We're looking forward to getting together for a few hours and having appetizers and dessert. We hope you can make it!

 

If you have any questions, don’t hesitate to reach out by phone or email. We look forward to hearing from you.

 

Posted in News
Jan. 24, 2022

Your Market Update for the New Year

What will happen in the market this year? Here are our predictions.

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation

 

Many people are asking what’s going to happen in this real estate market. That’s why we’re bringing you our market update for the new year.

 

We know that we will have a strong spring market; it’s already starting to take off. However, we don’t know what will happen as interest rates rise in the summer. We may see a slowdown in activity, and prices might drop.

 

Here’s my advice: Take advantage of the opportunity that exists right now. If you’re a seller, you can list your home and have a great sale in somewhat of a seller’s market. If you’re looking to buy, you can take advantage of the lower interest rates. We will have three interest rate hikes this year starting in March.

 

If you have any questions, feel free to call or email us. We look forward to hearing from you.

 

Posted in Real estate