Rates are low. So are home prices. So what’s preventing many from buying? For some, buying has become an obstacle as they are finding that financing their real estate purchase has become difficult. With a strong credit background, considerable down payments and reserves, many potential home buyers are finding that […]
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The Obama administration announced plans to expand the Home Affordable Refinance Program to make it easier for homeowners who are struggling but still making mortgage payments to refinance their homes. Changes to the program include refinancing despite how much a home’s value has fallen, reducing some fees, and eliminating the […]
Three North Side aldermen and a planner and designer have publicly produced a financing plan that could raise enough funds to buy, clean up and develop some of the hottest real estate in the city to a real park on the east bank of the Chicago River
Financial planning is a crucial step, and can make your investment real estate portfolio succeed or fail.
Developer Garrett Kelleher has reached an agreement with his largest creditor, Related Cos., over a financing plan that would allow him to keep control of the Chicago Spire site and potentially search for construction financing
The Chicago City Council has passed a controversial ordinance requiring landlords to show how much energy their buildings use. The new law requires the owners of around 3,500 commercial, residential and local government buildings in Chicago to track energy consumption and report the findings to the city, according to a […]
With the noticeable changes in the residential market in the past few months many are now looking at the commercial segment for a similar change. Typically, the commercial sector follows the residential trend and the general economy by roughly 18 to 24 months. But the supply and demand, and price […]
When the housing market declined a few years ago, many builders and investors left the market, either by choice or by consequence. But as with the current recovery, low inventory and pent up demand continues, builders and investors slowly returned.
The year over year statistics for November has been published. One common trend occurring in several market segments, including all residential and commercial properties are the lowered months supply of inventory, which all seem to be hovering over the four month mark. What the months supply of inventory (MSI) tells […]
Foreign investors are on track to continue purchases, taking the place of other traditional buyers missing from the market, such as investors, developers and first time home buyers. This past year has seen a sharp increase in foreign real estate purchases. International buyers accounted for $82.5 billion, or 8.9%, of […]
FHA is lowering its mortgage insurance premiums to help borrowers refinance into lower interest rates. Additional help to military who have been wrongly foreclosed on or denied the opportunity to refinance as well, as announced by President Obama earlier this week FHA is reducing its up-front premium to .01 percent, […]
The recent Realtors Confidence Index survey reports that cash buyers are 31% of the existing residential home sales market. This is no surprise as tightened credit leave cash buyers as a significant percentage of purchasers when competing offers that require financing sometimes cannot qualify for certain properties. The majority of […]
As we enter a new year, I am finding myself guiding clients in this market, formulating strategies and guiding expectations. It’s no surprise that the real estate market has been difficult for the past few years and many economists are expecting more of the same for this year. But even […]
City of Chicago Announcement: Department of Buildings Requiring 50 Percent Fee With All Permit Applications Deposit to Increase Efficiency and Recoup Partial Costs for Plans Reviewed The Department of Buildings will start requiring a 50 percent deposit on permit applications on January 3, 2012. The deposit requirement is designed to […]
The Federal Housing Administration’s cash reserves are falling short. This could impact the market in a multitude of ways, including the FHA depleting its reserves, which creates fewer financing options for buyers as well as impacting how quick stabilization occurs. The audit, to be released Tuesday by the FHA, estimated […]
Today marked the end of an era, which for a short time initially was an idealized vision of a vibrant new development which soon came to be controlled by gangs, drugs and violence. The Cabrini-Green Housing Project as of yesterday will be relegated to history one last time. The final […]
Buyers have a long list of what they want when home shopping, but one of their biggest desires: A good deal. Originally published at https://realtyevolved.net by Sherwin Sucaldito.
The rules and costs, are changing for home buyers, especially if you are a first time home buyer just entering the market. Buyers are facing different challenges than their predecessors who purchased even just a year ago. For home buyers, not all deals are created equally. In the past few […]
If it’s been a year or more since you’ve checked your credit report, you’re entitled to get a free credit report from each of the three credit reporting agencies: Equifax, Experian, and TransUnion. Checking your credit report helps to identify and address potential problems. By checking your credit report, you […]
Considering purchasing a short sale or foreclosed home in need of repairs? What options are available to buyers in today’s market? Originally published at https://realtyevolved.net by Sherwin Sucaldito.
Crain’s this week reported that Class A apartment buildings have increasing rents and is on pace to continued growth as more residents seek rental options. Demand has grown based on economic uncertainty and employment stability. Originally published at https://realtyevolved.net by Sherwin Sucaldito.
News on the housing market seemed to be the hot topic at the office and with good reason. Today, with new home sales and existing home sales dropping, many are wondering what’s next. Originally published at https://realtyevolved.net by Sherwin Sucaldito.
Everyday consumers could still be affected by zoning depending on what their planned use will be; this could impact buyers of single family homes, vacant lots and multi-units especially. Originally published at https://realtyevolved.net by Sherwin Sucaldito.
Doing some homework can prevent obstacles that can stall contracts, miss opportunities or prevent the buyer’s credit. Originally published at https://realtyevolved.net by Sherwin Sucaldito
The rise and subsequent fall of real estate prices could have an effect on other industries such as food. Originally published at https://realtyevolved.net by Sherwin Sucaldito
A short sale scenario occurs prior to a property going into foreclosure, and is sometimes a more viable option as it may be more economically beneficial to sell the property for a minor loss rather than going into the foreclosure process. A short sale can occur even if Notice of Default has not been recorded. Originally published at https://realtyevolved.net.