More Affordable to Own than Rent?
Economists have all kinds of indices and formulas to determine whether it’s more affordable to own a home in a given city than to rent an apartment there. Moody’s Economy.com is a respected organization that recently published new calculations for the top metro markets in the U.S. and Crain’s Chicago Business laid out the results this week in their June 29th edition.
[Read More]Posted at 02:03PM Jun 30, 2009 by Spencer Mason in General Comments[0]
Check out the hot buys around
Posted at 02:30PM Jun 26, 2009 by Spencer Mason in General Comments[0]
Mortgage Apps/Home Sales on the Rise
Both new mortgage and refi applications rose last week, according to a survey by the Mortgage Bankers Association (MBA). The increase in applications is a 17.2% jump from last year at this time and another sign that the housing market is heating up with the temperature.
[Read More]Posted at 04:13PM Jun 24, 2009 by Spencer Mason in General Comments[0]
Check out the hot buys around Chicago this weekend! Come visit Dream Town’s featured listings on Saturday and Sunday – we’ve got a great selection, including a new construction home, historic rowhouse and short sale loft. If you don’t see anything you like here, check out our other featured properties, or contact an agent and tell them what you’re looking for!
[Read More]Posted at 12:57PM Jun 18, 2009 by Spencer Mason in General Comments[0]
Senate Bill to Expand Home Buyer Tax Credit: $15K, for ALL Buyers
If $8,000 wasn’t enough to motivate home buyers, perhaps $15,000 will get results? A new legislation to expand the First-Time Home Buyer Tax Credit was proposed last week. The modifications would nearly double the maximum incentive amount, eliminate the first-tier income cap, and make the credit available to all home buyers.
[Read More]Posted at 03:49PM Jun 16, 2009 by Spencer Mason in General Comments[0]
Dream Town has a lot of featured open houses this week, including an architecturally significant Mid-Century Modern home in the city and a gorgeous Victorian gem in the suburbs. We’re also showing a great variety of condos, lofts and townhomes in various Chicago neighborhoods. Come check them out!
[Read More]Posted at 01:26PM Jun 12, 2009 by Spencer Mason in General Comments[0]
Pending Home Sales Rise AGAIN!
For the third month in a row, pending home sales went up again this April. Many are wondering if the prolonged turn in an appreciating direction has marked the bottom of the market (we’ll keep our fingers crossed!). The numbers, released by the National Association of Realtors (NAR), are a positive sign for the housing market – and really for the whole economy. Nationwide the Pending Home Sales Index increased 6.7 percent from the previous month (the biggest spike in almost 8 years) and it went up 9.8 percent in the Midwest, which is over 11 percent higher than April of last year.
[Read More]Posted at 02:53PM Jun 09, 2009 by Spencer Mason in General Comments[0]
Posted at 10:59AM Jun 05, 2009 by Spencer Mason in General Comments[0]
Update: First Time Buyers Tax Credit for FHA Down Payment
Further clarification of how the First Time Home Buyers Tax Credit can be used for upfront home buying costs with FHA loans was released today. The Department of Housing and Urban Development (HUD) announced that the $8,000 tax credit can be used as money down on top of the 3.5% down payment required by FHA-insured loans. It can also be used for closing costs or to buy points to lower the interest rate.
[Read More]Posted at 11:55AM Jun 03, 2009 by Spencer Mason in General Comments[1]
