Let me paint a picture: Closing is less than a week away. You have been constantly calling the mortgage broker for updates on getting a clear to close. Your current home is a mess filled with boxes and items scattered everywhere. Movers have not been scheduled yet, your agent is out of town, the attorney just left you a voicemail, and you are stressed out of your mind. Continue reading
Home flipping is back! I am constantly getting calls from seasoned and novice investors looking for properties to flip. Inman has an article that quoted RealtyTrac stats which reported that in 2015, home flipping increased in 75% of the markets nationwide. Chicago is no exception with Continue reading
You are sitting at closing going through the settlement statement with your attorney trying to understand why you own over ten thousand dollars of closing costs. You nod your head as the attorney goes through the list explaining but the truth is, you have no idea what he is saying. It sounds like a foreign language! Sound familiar? Continue reading
Possibly the most often overlooked expense, especially for first time home buyers, when purchasing or selling a home are the closing costs. Most people assume closing costs are minimal, possibly a couple extra thousand dollars. However, this could not be further from the truth. Continue reading
I remember about a year after purchasing my first home, my monthly payments suddenly skyrocketed by about $100! I was in shock. My mortgage was a fixed rate and my monthly payments should be the same, right? Wrong!
It is common practice throughout the country to make an earnest money deposit when signing a contract for a real estate transaction. By making this deposit, you are assuring the seller that you are a serious buyer and will risk losing the deposit if you default on the contract. It is not a guarantee that the earnest money will be deposited if the buyer backs out. Continue reading
Big new just in for Chicago! Aside from being an amazing city with awesome restaurants, cafe’s, sports teams (sometimes), landmarks, and a rich history, a bold prediction was just made about a hot neighborhood in the city. Continue reading
Are you having a difficult finding a new home for a cheaper price? An interesting phenomenon seems to be taking place since the new year. According to a recently published article in Realtor Mag, the inventory for less expensive homes in plunging while there is a plethora of properties available for luxury property seeking buyers.
The housing market is hot and interest rates are still at record lows. Many renters or people that have never owned a home before are now seriously considering making their first real estate purchase. While it is an exciting (and stressful) journey, first time home buyers must be extra diligent as they have never done this before and may not know what to expect. This article highlights four costly mistakes that many home buyers unfortunately make: Continue reading