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Home Sales Increased—But Will We Ever Meet Demand?

This is a reprint of a Bigger Pockets Article written by Matt Mayre The housing market has been tight on inventory since well before the pandemic. We’re nowhere near the end of the problem, unfortunately—but the effects of the pandemic finally appear to be tapering off. Home sales increased in July New data released by the…

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Impact of your FICO on $250K Loan

We just received this from our referral partner at National Credit Care Rates fluctuate. Below you will find example rates pulled off the MYFICO website. Regardless of what rates are, these general rules typically apply. For the most part, when you’re in the low 600 credit score range, you lower your interest rate by a…

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Lease Purchase Program- lets you pick out a home listed for sale to rent, and buy if you want to.

How Lease Purchase Began  When the Great Recession of 2008 hit, the mortgage market changed forever. Thousands of people across the country wanted to purchase a great single-family home, but were unable to as a result of the tightening credit requirements. Current Home Partners CEO, Bill Young, began strategizing a solution to this problem by providing access to capital that…

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What Does the Supreme Court’s Eviction Moratorium Ruling Mean?

The U.S. Supreme Court recently denied a request to block the CDC from imposing their eviction moratorium—giving the federal moratorium another month of life. The ruling came from a court split 5-4, with Justice Kavanaugh and Chief Justice John Roberts joining Justices Sotomayor, Kagan, and Breyer to block the request made by real estate trade…

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May 2021 Market Snapshot

May 2021 Market Snapshot MARKET SNAPSHOT — CITY OF CHICAGO May 2021 Market Snapshot- *The City of Chicago Market Snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS®. 3,403 properties were sold in the City of Chicago in May 2021. This…

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Mortgage Rates Rise Above 3%

For the first time in 10 weeks, mortgage rates inched above 3%—and the era of 2% rates may be over. “As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year,” said Sam Khater, Freddie Mac’s chief economist. “For those homeowners who…

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Pilot Accessory Dwelling Units (ADU) Ordinance Approved

Accessory Dwelling Unit Ordinance (ADU) Approved An Accessory Dwelling Unit  or ADU is a legal and regulatory term for a secondary house or apartment that shares the building lot of a larger, primary house. An ADU can be a tiny house in the backyard, a coach house, a granny flat, a build-out space in the…

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