#chicagorealestate

[heartlandfundinginc]

What Should I Budget for if I Sell My House on My Own in Chicago?

Planning to sell your house in Chicago on your own? Before you take the plunge, make sure you're prepared for the costs involved. From marketing to legal fees, budgeting is key to a smooth sale. Read our full guide to learn more!

[kmrealtygroup]

The Latest Builder Trend: Smaller, Less Expensive Homes

Even though affordability is improving, buying a home can still feel tough right now. But here’s some good news: builders are focusing their efforts on building smaller homes, and they’re offering key incentives to buyers. And both of these things can be a big help if you’re worried about finding a home that’s right for your budget.

Builders Are Building Smaller Homes

During the pandemic, homebuyers were looking for larger homes — and many could afford them. Builders responded to that demand and created bigger spaces to help people with things like working from home, setting up home gyms, and having extra rooms for virtual school.

Now, with affordability as tight as it is, builders are turning their focus to smaller single-family homes. Data from the Census shows how significant this trend toward smaller new homes has been over the last couple of years (see graph below):

But why would builders want to build smaller homes right now? At the end of the day, builders are going to focus on building homes that meet current market demand — because they want to build what they know will sell. And the number one thing homebuyers are looking for right now is better affordability. Since smaller homes typically come with smaller price tags, both buyers and builders have shifted their focus to homes with less square footage. The National Association of Home Builders (NAHB) reports:

“. . . home buyers are looking for homes around 2,070 square feet, compared to 2,260 20 years ago.”

And according to Orphe Divounguy, Senior Economist at Zillow:

“Not only are cash-strapped buyers continually seeking out lower-cost options, but developers are changing what type and size of home they’re producing to try and meet that need.”

How a Newly Built Home Can Help You Achieve Your Homebuying Goals

So, if you’re having a hard time finding something in your budget, it may be time to look at brand-new homes that have a smaller footprint. When you do, you may get a few other fringe benefits that can help on the affordability front — like price reductions or mortgage rate buy-downs.

According to the most recent data from Zonda, more than half of builders are offering incentives, some of which are mortgage rate buydowns. And those perks could help lower your future monthly housing payment too. John Burns, CEO of John Burns Research & Consulting, shares:

“The monthly payment matters more than anything else and builders have responded with smaller, more efficient homes.”

Not to mention, with new home construction, you’ll also get brand new everything, have fewer maintenance needs, and get some of the latest features available. That’s worth looking into, right?

Bottom Line

With builders focusing on smaller homes, you may have more budget-friendly options when it matters most. If you’re thinking about buying a home soon, let’s connect with real estate agents from KM Realty Group LLC to see what’s available where you want to live.

[dankieres]

Dan Kieres Real Estate Agent

[christianallencasting]

My name is Christian, I’m a casting associate at Big Table Media (Google us!). I’m currently working on a Chicago based home renovation series for a major cable network.

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If you or anyone you know is about to start a renovation and would like the free help of a world class designer fill out our application below!

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[christinelurirealestatebroker]

⭐️Open House this Saturday 1- 3pm 321 S Sangamon Street #308 Modern 2 Bedroom at Lofthaus! This East facing unit features a 639 sf private terrace, 10 ft floor to ceiling windows that bring in tons of natural light. Primary bedroom is enclosed and concrete in between floors. Kitchen features granite counters, double sink, stainless steel appliances, and newer backsplash. Recent updates including flooring, carpet, fireplace, and custom paint. Generous space for dining table. Garage parking (#33) is additional $25K. Lofthaus is in the heart of West Loop, walking distance to parks, El & bus stops, shopping, restaurants, highways, and the Loop Stop by Saturday or contact me for more info! Christine Luri, Real Estate Broker @properties Christie’s international cluri@atproperties.com 312-493-5430 #chicago #westloop #westloopchicago #realestate #broker #realtor #chicagorealestate #chicagocondoliving #openhousechicago #openhousesaturday #weekendsareforrealestate #lovewhereyoulive (at West loop, chicago) https://www.instagram.com/p/CqD0XO3J6DT/?igshid=NGJjMDIxMWI=

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It is better to light just one candle than to curse the darkness

[novyknowschicago]

Day 1: "Welcome to the Novy Knows Chicago with TeleQuest Realty Blog! Let’s go on a 30 day journey and talk about home buyers! Today, let's explore the top neighborhoods for first-time home buyers in Chicago. From the bustling streets of Bucktown to the serene parks of Ravenswood, each neighborhood has its own unique charm and amenities to offer. As your trusted real estate agent, I've helped countless clients find their perfect match in this vibrant city, and I'm here to guide you every step of the way. Whether you're a young professional searching for a trendy condo or a growing family in need of a spacious home, together, we'll find the ideal neighborhood and property to fit your lifestyle. Stay tuned for insider tips, market trends, and exclusive listings that will make your home buying journey a breeze. Welcome to the Novy Knows Chicago family! #ChicagoRealEstate #FirstTimeHomeBuyers #NovyKnowsChicago"

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[sellingsunsetsmiami]

Posted @withregram • @onesirdevelopments Our oceanfront units are #SOLDOUT. Only a few units remain in our 4th and final tower. Schedule your appointment to learn about this beachside enclave of 21 luxury residences and amenities that are like no other in Vero Beach. @kristinegabor . . . . #compass🧭 #compassrealestate #mvpchicagorealestate #compasschicago #agentsofcompass #chicagorealestate #realestatechicago #chicagorealtor #realestate #dreamhome #luxuryrealestate #luxuryrealestatechicago #staging #design #chicagoluxuryliving #realtorlife #realestateteam #realestateteams #realestatelife #milliondollarlisting #realestateagent #westtown #westtownchicago #westtowncommunity #bucktownchicago #wickerparkchicago DM for credit or removal (at Miami Beach, Florida) https://www.instagram.com/p/CTkr_JSLhqJ/?utm_medium=tumblr

[heartlandfundinginc]

Selling an inherited house in Chicago? Check out our latest article for three essential tips to prepare your property for sale. Follow the link in the description to learn more.

[kmrealtygroup]

The Surprising Amount of Home Equity You’ve Gained over the Years

There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market — and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decision that much easier. Here are two key factors that have a big impact on your equity.

How Long You’ve Been in Your Home

First up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.

But according to the National Association of Realtors (NAR), that number has been climbing. Now, the average tenure is 10 years (see graph below):

Here’s why that’s such a big deal. You gain equity as you pay down your home loan and as home prices climb. And when you combine all of your mortgage payments with how much prices have gone up over the span of 10 years, that adds up. So, if you’ve lived in your house for a while now, you may be sitting on a pile of equity.

How Home Prices Appreciate Over Time

To help show how much the price appreciation piece adds up, take a look at this data from the Federal Housing Finance Agency (FHFA) (see graph below):

Here’s what this means for you. While home prices vary by area, the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home for 30 years saw it more than triple in value in that time.

Whether you’re looking to downsize, relocate to a dream destination, or move so you can live closer to friends or loved ones, your equity can be a game changer.

Bottom Line

If you want to find out how much equity you’ve built up over the years and how you can use it to buy your next home, let’s connect with real estate agents from KM Realty Group LLC.

[chitownbobsblog]

I loved selling this one. Gorgeous loft in Lincoln Park. Another one SOLD!! #lincolnparklofts #chicagorealestate #lincolnparkhomes #chicagorealtor (at Lincoln Park) https://www.instagram.com/p/CPQ4iq3B-Pa/?utm_medium=tumblr

[dankieres]

Dan Kieres

[min147789-blog]

Just want to drop this here. If you ever need to rent, buy, sell. Make sure you pick a knowledgeable - handsome realtor. AKA ME. #nema#hickeyfreeman#chicagofashion#northchicago#suburbs#chicagorealtor#chicagorealestate#spring2021#newhomeconstruction#openhouses#homesweethome (at NEMA Chicago) https://www.instagram.com/p/CMDRO3ijvVA/?igshid=1up3n5ie98qme

[christinelurirealestatebroker]

⭐️Always educating myself to be the very best for my clients! First new certification of 2023! AND my 3rd Negotiation certification. Certified Negotiation Expert (CNE) Master Certified Negotiation Expert (MCNE) Certified Real Estate Negotiator (CREN) Currently working on my CLP- Certified Listing Professional Keeping educated, using modern best business practices, innovative marketing & partnering with the best brokerage goes a long way in helping my clients have successful, stress free transactions. After all, it is usually your biggest investment! This Spring Market is heating up- give me a call if you’re thinking of buying, selling or leasing real estate! Christine Luri, Real Estate Broker MCNE, CNE, CREN, ILHMM, CREDS @properties Christie’s International cluri@atproperties.com 312-493-5430 #certified #certifiedrealestatenegotiator #mastercertifiednegotiationexpert #certifiedrealestatedivorcespecialist #instituteforluxuryhomemarketingmember #certifiedlistingprofessional #alwayslearning #alwayslearningalwaysgrowing #realestate #chicagorealestate #broker #atproperties #atpropertieschicago #christiesinternationalrealestate #listingagent #buyeragent (at Lincoln Park) https://www.instagram.com/p/CqBZlycPbEx/?igshid=NGJjMDIxMWI=