An inside look at Chicago real estate
By Dream Town
This is a continuation of an entry from early last week about who today’s home buyers are and what they are saying about the purchase process, working with agents, and other elements related to buying a place (click here to read previous entry). The information comes from a study by…
By Dream Town
The Senate has passed a bill that would greatly help the U.S. housing market get back on its feet. The amendment is part of the multibillion-dollar Economic Stimulus plan being ironed out in Washington as we speak. Under the legislation, home buyers who buy within a year of its enactment…
By Dream Town
According to the NAR, the average American home buyer is 39 years old with a median income of $74,900. Thirty-three percent of buyers are aged 25 – 34. This is the largest group of residential property purchasers; with runners up being 35 – 44 year-olds at 23%, 45 – 54…
By Dream Town
Yes, we all know this is a Buyers’ Market, but what advantages are there to buying today as opposed to buying 6 months or a year from now? Here are a few factors currently in place to help buyers make the most of this Buyers’ Market Historically Low Mortgage Rates…
By Dream Town
It’s hard to forecast what the future holds, but here’s one prediction for what we’ll see in 2009 … It will be a good time for first-time buyers with a secure job and solid credit to take the plunge and become homeowners! If you are employed, have a credit score…
By Dream Town
With the increased cost of gas, some real estate agencies are seeing a shift in what house hunters are looking for in a home. It used to be people didn’t mind living away from where they worked in order to get the home they wanted Now, home buyers are expressing…
By Dream Town
Keeping up with what home buyers want is essential in the real estate industry. Home builders need to know what to build and Realtors need to know what sells. That’s why the focus has turned toward Generation Yers – anyone born between 1978 and 1994 – because they are the…
By Dream Town
There’s a big difference in what kind of home $300K will buy you in Chicago, depending on where you look. Below is a cross-section of active Chicago real estate listings for $300,000 that gives you an idea of just how much home you can get (and where). NORTH SIDE NEIGHBORHOODS…
By Dream Town
These days there is a lot of uncertainty in the housing market that is causing buyers to hesitate. People speculate whether prices will fall further and wonder if it’s a good idea to purchase in a down market. These are legitimate concerns that are justified and understandable. But when you…
By Dream Town
By now you’re probably aware that the real estate transfer tax increase was approved by city alderman this past week to alleviate the CTA money crunch. The revised law raises the tax amount homebuyers pay on their new Chicago property by $3 to $10.50 per $1,000 of the sale price….
By Dream Town
People in search of residential property right now know it’s a buyer’s market out there. Nationwide we have an excess of inventory, the number of new home starts is decreasing, mortgage rates are still low, and prices aren’t appreciating. So, as a homebuyer, you are in a good position to…
By Dream Town
Last time, we discussed the importance of allowing extra time to sell your home as the current market is showing a nationwide trend toward longer listing times. For Chicago and surrounding areas, the 2007 first quarter average was 131 days for detached houses, according to recent numbers from the Multiple…