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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…
Read MoreImpact 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…
Read MoreInvestors: Don’t Be Caught Unprepared! Here’s Why Disaster Insurance Is Essential
This is a reprint from Bigger Pockets By Dave Van Horn Dave Van Horn is a veteran real estate investor and CEO of PPR Note Co., a $150MM+ company managing funds that buy, sell, and hold residential mortgages nationwide. Dave’s expertise is derived from over 30 years of residential and commercial real estate experience as a licensed…
Read MorePandemic Did Not Facilitate Cross-Country Moves, According to Knock Survey
Homebuyers opted for smaller cities within their current state, a trend that is likely to continue in the short-term NEW YORK (June 3, 2021) — The desire for more space and flexibility to work remotely prompted Americans to rethink what they want in a home over the past year. While for some it meant relocating to…
Read MoreLease 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…
Read MoreWhat 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…
Read MoreMay 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…
Read MoreMortgage 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…
Read MorePilot 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…
Read MoreChicagoland Open house totals rise as inventory grows- Hot Market
Housing Market Gone Crazy- Everything is up Hosing Market Gone Crazy- If you didn’t know it- The market is hot right now. More properties are coming on the market and more are closing. Here are some raw stats More open houses took place in MRED’s marketplace last week than in any individual week since mid-November.…
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