The housing market has been hot in recent years, most favoring sellers with available property in increasingly limited supply. As it cools off in tandem with the increase in interest rates, that trend may begin to change, even perhaps leading to a burst of short sales...
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Residential Real Estate
Why do home prices keep rising?
Over the last few years, you've likely noticed a trend where home prices continue to rise. While the real estate market, in general, has always been going up, there are usually fluctuations where it will drop for a time. This hasn't seemed to happen, and home prices...
Will you need to cancel the closing over an appraisal gap?
Getting your offer to stand out is a challenge in today’s real estate market. There isn't enough supply for all the people who want to buy, so buyers have to compete with one another. Buyers may make offers well over the asking price for a property to entice the...
Why shouldn’t home buyers write letters to sellers?
People who are trying to purchase a home will often try to get their offer on the home to stand out by writing a letter to sellers, especially when the market is competitive. While this might sound like a good idea, it’s one that should be avoided. There are far too...
Is it too early in the year to sell my house?
Selling a house isn’t rocket science, yet some people seem to have the magic touch when putting up that “For Sale” sign. There’s no one true formula that can set you apart. When looking to sell, there is a good time to sell, and there is the best time to sell. You’re...
Why is a home inspection important?
Making an offer on a home is a huge step for a first-time homebuyer. In almost all cases, you should have a contingency clause in the offer that notes you have the right to revoke the offer if the home inspection unearths any points that should have been disclosed but...
Are you facing foreclosure?
When you buy a house, the bank owns it until the day that you make your very last payment. Should you have difficulty paying the mortgage the bank can reclaim the house through foreclosure. No one buys a house thinking that it will be surrendered in foreclosure...
The differences between a mortgage note and promissory note
There are so many documents to sign and review when you buy a house that you may feel overwhelmed. The average home buyer doesn't even look over all of the documents, let alone have a professional review them to check for issues. The end result may be that you sign...
Contingencies on your offer can protect you from a money pit
The real estate market in Illinois has its fair share of fixer-uppers and beautiful older homes. A well-maintained older property can be a wonderful home, but the vintage appeal of some houses hides significant property issues. Some people buy what they imagine will...
Settling a boundary dispute to enjoy your new home
Settling into a new home can be an exciting chapter in your life. You may have fallen in love with the property at first sight and rushed to finalize the deal. Many homeowners make this acquisition without getting a chance to meet the neighbors beforehand. While many...