Greater Chicago Real Estate News

June 30, 2020

Q: What Are My 3 Main Home Buying Tips?

Not following these simple tips can give homebuyers headaches later.

 

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The home buying process can feel daunting, especially for first-time homebuyers, but it doesn’t have to be. Here are the three most important tips I can impart:

 

1. Get pre-qualified. This should be the absolute first thing you do before you even start looking at real estate. That way, you know the total cost you can afford and what your monthly payment breakdown is (including taxes and assessments).

 

2. Find the right agent. You should work with a skilled professional who knows the area and truly listens to and understands your needs and why you’re buying. You want someone who will be involved with you in the process of home buying, not just someone who’s eager for a commission.

 

   
The very first thing you should do is get pre-qualified.
  

 

3. Don’t get stuck on a number. I see this happen all the time, and good folks like yourself lose out on properties they love, and regret it. Know your budget, but also let the home speak to you.

 

If you’re a buyer who’s having an issue with your approach to our competitive market, reach out to me via phone or email. I’d love to help answer any questions you have and discuss your situation more in depth. 

 

Posted in Real estate
June 17, 2020

Areas With Opportunities

These are the areas around Chicago that hold great opportunities.

 

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Today I’m sharing some areas that I believe will have excellent opportunities to buy in the near future. It’s also likely the properties in these areas will appreciate in value. You can always find areas where little seeds have been planted, and those areas start to develop and blossom.

 

Chicago: Dunning and Montclair will be exceptional neighborhoods to purchase in soon. The values are appreciating as more people move to the more expensive, higher taxed areas.

 

North Shore: Skokie will certainly appreciate; it’s diverse, property taxes are low, and the number of sales there has been growing and growing. 

 

All these areas are going to be stellar purchases.

 

Northwest suburbs: There are a couple of areas that people don’t often think about, but they’re starting to come back into play. Elk Grove Village and Schaumburg are two wonderful locales.

 

Western suburbs: This is a large area, and there are many opportunities in some parts as we move further west. There are opportunities in the Oak Brook area (not the luxury market, however), Elmwood Park will be appreciating in the next five to 10 years, and Western Springs is another superb locale. 

 

All these areas are going to be stellar purchases, and if you live in them now, you may want to hold onto your house for the next five to 10 years as the market recovers.

 

If you would like further information or have any questions, reach out to me via phone at 312-437-7799 or email me. I’m here to help.

 

Posted in Real estate
May 6, 2020

Q: How Can Homeowners Benefit From Refinancing?

There’s a good chance that you can benefit from refinancing right now.

 

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Michael Wieczorek, vice president of Stonehaven Mortgage, handles the majority of the lending for our homebuyer clients. We recently got together to talk about home finance, some of the innovations we’re seeing in the market, and provide some tips for homeowners. Right now, most homeowners can benefit from refinancing. One option is pulling equity out of their home and putting it into an investment with a higher return. Refinancing will also allow you to lower your interest rate and the length of your mortgage.

Posted in Real estate
March 16, 2020

The Sohail Real Estate Team Does It Again

Here are a few things to note about the appraisal process. 

 

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As per usual, we at the Sohail Real Estate Group have just put another awesome property under contract—this time in the highly desirable area of Skokie. We’re here today to meet the bank for their appraisal, and we’ve already prepared some necessary information for them, like an overview of the comparable properties in the neighborhood to gauge what has sold here and what’s still active on the market. Overall, appraisers look at three criteria:

  • Location
  • Condition
  • School district, then kitchen, bath, etc.—basically, the big-items of the home

If you have additional questions about the appraisal process or what living in Skokie looks like, feel free to call or email us. We'd love to speak with you. 

Posted in Real estate
Feb. 27, 2020

Forecasting the 2nd Half of 2020

Here are my predictions for the second half of 2020.

 

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Now that the spring market is about to begin, what can we expect from the second half of 2020? The market is coming along nicely—people are buying and selling homes like normal. What makes this year unique is that it’s an election year, and that can cause uncertainty. 

 

Whatever happens due to this uncertainty, though, won’t happen until the end of the year. We know that the market flattens around June and dips during July and August, so now’s the time to put your home on the market if you’re a seller. If you’re a buyer, don’t let the numbers stop you from moving forward with your dreams, especially if it’s your first home. 

 

If you have any questions about our market or you need help buying or selling, don’t hesitate to reach out to me. I’m here to serve your real estate needs.

 

Posted in Real estate
Feb. 14, 2020

The Lesser-Known Duty of Realtors

What do you think a Realtor’s job involves? Today I’m explaining how it’s partially concerned with helping people “let go.”

 

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As a successful Realtor, my job is not only to get the property sold, but it’s also to get through to the seller and enable them to let go of the property (i.e., to release their emotional attachment to their property). 

 

What stops most people from moving forward to the next phase of their life, whether that may involve purchasing or selling something, is usually one of two things.

 

 

Attachments are almost always emotional, not logical.

 

The first is an attachment. This may mean an attachment to a certain price, or a sentimental attachment to a home, but either way, it’s inhibiting their progress. They are almost always emotional, not logical. 

 

The second is paralyzing fear of a certain undesirable, worst-case scenario outcome. As a buyer or as a seller, your goal should be to think about the process a little more logically. 

 

Sometimes, success in real estate hinges not on your agent or current market conditions, but on what’s going on in your head. Approaching transactions with a healthy mindset will likely lead one of your biggest real estate breakthroughs. 

 

If you have any questions about the information covered in today’s message or you’re interested in buying or selling a property, feel free to call or email me. I would love to speak with you.

 

Posted in Real estate
Jan. 30, 2020

Buying or Selling in the Spring

The spring market is coming soon, and this means opportunities for both buyers and sellers.

 

Buying a home? Click here to perform a full home search
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It’s 2020 and the spring market is close at hand. It’s one of the busiest times of the year for real estate, and soon we’ll be seeing many properties come onto the market. What does that mean for you?

 

For buyers, there will be more opportunities to purchase homes and some great deals in this market. If you’re looking to sell, there will also be valuable opportunities. There are always big opportunities in any marketplace, you just have to position yourself realistically and in a way that matches your goals. 

 

Whether you’re buying or selling, it comes down to motivation and price.

 

Hopefully, if you’re selling a house, you have a plan in place to get it sold over the competition. Generally, whether you’re buying or selling, it comes down to motivation and price. 

 

Reach out to me if you have any questions about real estate. I would be happy to help.

 

Posted in Market Update
Jan. 14, 2020

The Latest News in Chicagoland Real Estate

It’s a new year, a new decade, and a new market for Chicagoland real estate. Here’s what you need to know.

 

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The new year is here, and it’s time for your first real estate market update of 2020. The latest numbers are in and I’m excited to share them with you today.

 

Our market is steadily picking up in terms of activity, but let’s not confuse that increase with appreciating values. The fact is that home values in the Chicagoland market have been down for the past two years. If we crunch the numbers locally, we can see that the market is down by an average of 6% to 8%.

 

In some areas of the North Shore, we’re down almost 40% on some properties. In the lower price ranges, the gap isn’t as wide.

 

Home values in some areas of the North Shore are down nearly 40%.

 

If you truly want to buy or sell in this market, you have to face the reality of where we are. It’s not the market where you can get the most money possible for your home sale, but it’s a market where you can get your home sold with the right strategy. There’s still a way to win.

 

If you want to hear more about our winning platform and what we can do to help get your home sold, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

 

Posted in Market Update
Nov. 21, 2019

Why Buying, Selling, or Investing in Real Estate This Winter Is a Great Idea

Is it too late to buy or sell real estate this year? Not at all, and here’s why.

 

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It’s hard to believe that we’re already well into November. Now that we are, though, many are curious as to what this means for our real estate market. After all, history shows that seasonality does play a part in market activity. The truth of the matter is that while fewer real estate sales tend to take place in winter, the ones that do present some unique advantages for the buyers, sellers, and investors behind them. In the summer months, traditionally one of the hottest times of year for real estate, the market is flooded with “looky-loo” buyers who are more interested in window shopping than striking a deal. In the winter months, buyers and sellers are more serious. December is one of the busiest months for closings, so if you’re thinking of making a move, please reach out so we can help.

 

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon. 

 

Posted in Real estate
Oct. 22, 2019

What’s Happening With Chicagoland Real Estate?

As we inch closer to 2020, I wanted to bring you an update on where our Chicagoland real estate market is right now. Here’s what you need to know.

 

Buying a home? Click here to perform a full home search
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Our Chicagoland market is still trending upward, but at a little bit slower of a pace than it has in previous years. One reason is due to the financial stability (or lack thereof) of the state of Illinois. Another reason is the migration out and into the area. If your home has been on the market, but you’re not getting anywhere, it may be time for a change and we can help.

 

So, as always, if you have any other questions or would like more information about how we can assist with your real estate goals, feel free to give us a call or send us an email.