Fox Valley Illinois Real Estate Blog
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The Time is NOW!
Okay, so incredibly low interest rates (lowest since 1971!), lots of inventory to choose from, and low prices (Econ 101, lots of inventory, low demand). What else does a buyer need to be motivated to make the move now? Nothing right? Well, just in case, here is one more reason. After October 4th, 2010, the mortgage [...]
A little breathing room?
1st time homebuyers already under contract, but fighting to beat the June 30th closing deadline might breathe a collective sigh of relief if a few Senators get their way. They are looking to push the closing deadline back to September of 2010. This extension could especially help the purchasers of short sale properties, which are [...]
Average size home on the decrease per NAHB
According to the National Association of Home Builders the average size of a new home is down from the year 2000. That decrease may reflect more than just a economic choice among buyers. Check out This Week In Real Estate below for more.
Fannie Mae makes already good deals, even bettery
In working with buyers and watching the market Fannie Mae has had some of the most aggressively priced homes to hit the market. Many go under contract within 7 days of being listed in the MLS. Now buyers will have even more incentive to look at Fannie Mae owned properties. Any buyer that is going to [...]
Need or want a list of pre foreclosure and foreclosure homes in your area?
Looking to buy or invest in real estate? Many of the best deals are bank owned foreclosures, or pre foreclosed homes. Check out this link for Oswego Il. Need a search for another community or area? Contact me and I’ll set it up for you!
The first time buyer tax credit extended! What did it do for the market in 2009?
The first time homebuyer tax credit has received a lot of press, and had enough impact for the Federal Government to extend into 2010. Watch this video from Keller Williams to find out how much impact it had!
Home buyers and agents, make sure you do your essay (SA) homework!
Many areas of the the far west Chicago suburbs have subdivisions with a somewhat hidden cost. Buyers need to be aware that in addition to their mortgage, property taxes, and homeowners association fees, there may be an addition cost associated with being an owner. Many new subdivisions have SSA’s, or Special Service Areas. This is [...]
Home buyer tax credit not just for 1st time buyers any more?
Check out this video with details on the extended first time buyer tax credit, and the added tax credit for current owners
Bank owned properties can be great deals, but know the possible costs going in
The bulk of real estate sales continues to be pre foreclosed and foreclosed properties, largely because they are, square foot by square foot, the best deals on the market. With the number of foreclosures on the market and more on the way, cities are reacting to ensure the integrity of neighborhoods, and long term property [...]
Distressed properties offer prices below current valuation trends
In a quick study of 4 west suburban markets of Chicago, the evidence is there that amazing deals abound in foreclosed homes, and short sales. One zip code showed a 22% difference between projected value based on the Case-Shiller index and the actual sale prices of the “distressed” properties. That was an average of $57,000! The [...]
