Tag: Move Up Buyers

How an Energy Efficient Home Can Be a Bright Idea

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Posted on 03/27/2022

With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control. Energy efficiency can help lower your utility bills and possibly even save you money on your taxes. Options to look for include efficient appliances, windows, and solar panels. If you’re planning to...

Are You Wondering if This Is the Year To Buy a Home?

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Posted on 03/24/2022

Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents have...

Real Estate

Don’t Get Caught Off Guard by Closing Costs

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Posted on 03/22/2022

As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not caught off guard...

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Posted on 03/16/2022

Key Terms for Homebuyers

Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the...

Key Factors That Impact Home Affordability Today

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Posted on 03/16/2022

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability: home prices, mortgage rates, and...

Are Home Prices Continuing To Rise?

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Posted on 03/09/2022

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency (FHFA): 17.6% S&P Case-Shiller: 18.8%...

How To Win as a Buyer in a Sellers’ Market

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Posted on 02/11/2022

Even in today’s sellers’ market, there are still ways for buyers to win big. Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer. In a sellers’ market,...

The Top Indicator if You Want To Know Where Mortgage Rates Are Heading

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Posted on 02/04/2022

Mortgage rates have increased significantly since the beginning of the year. Each Thursday, Freddie Mac releases its Primary Mortgage Market Survey. According to the latest survey, the average 30-year fixed-rate mortgage has risen from 3.22% at the start of the year to 3.55% as of last week. This is important to note because any increase in mortgage rates...

Real Estate

Why a Move Could Bring You More Happiness This Year

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Posted on 02/02/2022

Today we are having a blast of snow and cold in Chicago. Some people may think about making a move. Over the past two years, we’ve lived through one of the most stressful periods in recent history. Because of the health crisis, many of us have spent more time at home and that’s led us to re-evaluate both...

With Mortgage Rates Climbing, Now’s the Time To Act

Home Sellers

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Posted on 01/22/2022

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates...

Why Inflation Shouldn’t Stop You from Buying a Home in 2022

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Posted on 01/14/2022

If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of...