Home Buying

Found 53 blog entries about Home Buying.

Everyone has at least experienced how to move once in our life. And in such a case, planning every aspect of the relocation 2 people moving from their orland park home for saleseems to be a daunting task. With all the scheduling, coordinating, and packing you’ll need to accomplish over the next few weeks, it can be easy to get overly stressed and anxious. If you’re a starter, you may not know where to start and what to do precisely.

 To get all things done without losing your mind, here are the things to prepare when you’re planning your first move.

  1. Calculation of moving costs

First thing in your checklist should be the calculation of moving costs and the setting up of your budget. While most people who are moving don’t really feel like creating a budget, you should understand that not

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home buyer's guide to get mortgage ready

Don’t wait until you’re ready to move to start preparing financially to buy a home. If you’re like the vast majority of home buyers, you will choose to finance your purchase with a mortgage loan. By preparing in advance, you can avoid the common delays and roadblocks many buyers face when applying for a mortgage.

The requirements to secure a mortgage may seem overwhelming, especially if you’re a first-time buyer. But we’ve outlined three simple steps to get you started on your path to homeownership. Even if you’re a current homeowner, it’s a good idea to prepare in advance so you don’t encounter any surprises along the way.

Lending requirements have become more rigorous in recent years, and changes to your credit history, debt levels, job type,

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orland park real estate 2018

As we head into a new year, the most common question we receive is, “What’s the outlook for real estate in 2018?”

It’s not just potential buyers and sellers who are curious; homeowners also want reassurance their home’s value is going up. The good news is that a strong U.S. economy, coupled with low unemployment rates, is expected to drive continued real estate growth in 2018. However, changes on the horizon could significantly impact you if you plan to buy, sell or refinance this year.

HOME VALUES WILL CONTINUE TO RISE

Get ready for another strong year! U.S. home values and sales volume will continue to rise in 2018.  orland park home prices are going up

Experts agree that home prices will increase in 2018, but predict a slower rate of appreciation than 2017, which clocked

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Following is a guest post written by Lance Mohr, a Tampa, Florida REALTOR

 

Buying a new home is one of the most exciting feelings anyone can dream of. However, it is not as easy as you might think. Having a lot of money is not all that matters. There are other factors to look into when buying a new home. Even the most luxurious property has its own drawbacks because there’s no such thing as a “perfect home”. Nevertheless, through several years of real estate experience, we have come up with various tips to guide you in choosing the home that adequately fits your style, needs and financial resources, may it be brand new or pre-owned.

Come up with a clear description of your ideal home. This way you have a clear understanding before you and your

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orland park home buying powerIf you’re in the market for a new home or investment property, one of the first questions you’ll probably ask is, “What can we afford?” Many buyers become so caught up in how much they can afford that they don’t realize their total buying power—that is, the total amount of purchasing potential they actually have.

Buying Power Defined

Your buying power is comprised of the total amount of money you have available each month for a mortgage payment. This means the money you have each month after fixed bills and expenses. Any money you’ve saved for a down payment, the proceeds from the sale of your current home, if applicable, and the amount of money you’re qualified to borrow all impact your buying power as well. When you take all of this into account,

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You can usually spot new design trends by looking at new construction, especially new subdivision models.  Most builders keep themselves up-to-date with current decorating styles.  One builder I met said they will build one spec home using a cool tone (grey) and the next one with a warm tone (beige).

The current trends are all about utilizing rich color, maximizing texture and creating comfortable interiors you can’t wait to relax in. Use these trends to get inspired to makeover your home’s interiors and create spaces you love that also appeal to your personal style. Remember, if you plan to sell in the next few years, you may want to avoid doing anything dramatic and instead incorporate small changes that would appeal to buyers.  We plan on moving

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I read several years ago that we should only have our sellers sign disclosures that were mandated by law.  Required disclosures are our Property Disclosures mold disclosure form no longer needed in Illinois(Residential Real Property Disclosure Report), Lead Based Paint Disclosure for homes built prior to 1978  and the Radon Report.  Some lenders require the Lead Based Paint form for all homes, which I think is ridiculous as the form explicitly states that it is for properties built "prior to 1978", so I don't understand why some lenders don't accept the date as lead was removed from paint in 1978.  I do not have my sellers sign that one if their home was built after 1978.  If a buyer's lender requires it we can argue the fact or sign one at that point.

Some years back a Mold Disclosure was created

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Here is an infographic of some real estate buyer and seller profiles of 2016 that I thought many people would find interesting.

orland park real estate buyers and sellers

Home Buyers

Age

Nothing really shocking to me about buyers.  It is interesting to see how the average age has changed since 1981.  I bought my first house in 1976 at the age of 22-23.  That house cost $18,000 and it didn't hit me at the time but instead of a 30 year mortgage we were given a 10 year mortgage!  We were happy with our 10.5% interest rate.  I still drive past that house whenever I'm in the area.

Marital Status

I normally work with married couples but I do get the singles.  In fact, I worked with a couple this past year (they never did buy, but that might be good) that had just started dating and I

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orland park homes for sale value

Click the photo above to go to the page for your instant market value.  This isn't just for homes in Orland Park - it will change when you click on the page.  Just put your address in.  I've tried different home value programs and have come back to this one as it gave the closest value for my own home.  This value is based on sold and closed properties, which is what an appraiser goes by.

Buyers can also use this tool for a home they're interested in to see if the home is priced correctly.  However, I create a manual CMA for my buyers so they can get the best data available.

Keep in mind, this is an instant online value based on your location and the few quick questions for you to answer.  This will give you a price range and show you area

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Below is an infographic from the National Association of Realtors®

generational real estate trends 2016 infographic

As a baby boomer I get confused on the generations that have followed me, so I'm going to list them:

  • The Lost Generation - born 1890-1915 - I don't remember this generation, but my grandparents were in it - both are gone
  • The Interbellum Generation - born 1901-1913 - I didn't realize generations could overlap
  • The Greatest Generation - 1910-1925 - more overlapping - my parents were in this one
  • The Silent Generation - 1923-1944 - my parents were also in this one
  • Baby Boomers - 1945-1964 - My husband and I are in this one
  • Generation X - 1961-1981 - My daughter & one son are in this generation
  • Generation Y - Millenials - Gen Next - 1975-1995 - more overlapping
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