From the category archives:

Home Buying Tips

Baird & Warner offers 5% down condo mortgages!

Thumbnail image for Baird & Warner offers 5% down condo mortgages! February 21, 2010

We’ve been getting a lot of questions regarding FHA financing and our 5% down conventional program. We are one of a very few lenders that can offer 5% down conventional financing. I thought it would be a good idea to provide you with a short list of pros and cons for both loans.
FHA [...]

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Should you view homes above your price range, if they’re on market 30 days or less?

Thumbnail image for Should you view homes above your price range, if they’re on market 30 days or less? February 19, 2010

This week I received a great question. Michael M. asked, “Is it wise to see a home that only recently came on the market (let’s say less than 30 days) and is $25-50K out of your price range? Or should you wait until there is a price reduction that brings it closer to your [...]

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What can happen when your mortgage broker has poor service

Thumbnail image for What can happen when your mortgage broker has poor service December 17, 2009

This week one of my buyers closed on the purchase on a house in Andersonville. While the closing was a cause for celebration, the process of getting to the closing table was way more stressful than it needed to be for my buyer!
A day before my buyer’s mortgage commitment was due the broker informed me [...]

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How to search Chicago homes for sale by map

Thumbnail image for How to search Chicago homes for sale by map December 14, 2009

Sometimes finding the right home location takes some drawing. Such is the case with a home search I just started for a couple wanting to live walking distance from the Brown Line or the Ravenswood Metra Station. Based on some additional requirements (e.g. not too close to Wrigley Field ), I outlined the area [...]

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Chicago is dog-friendly more than you know!

Chicago is very dog-friendly! November 13, 2009

Last week I had a call from a woman considering a move to Chicago from New York City. One of her questions regarded how dog-friendly Chicago is since she and her husband have 3 dogs.
How dog-friendly is Chicago? Chicago made DogFriendly.com’s 2009 Top 10 U.S. Cities to Visit With Your Dog. What’s even more [...]

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Homebuyer tax credit extended and expanded to include current homeowners!

Thumbnail image for Homebuyer tax credit extended and expanded to include current homeowners! November 7, 2009

Yesterday President Obama signed into law an extension and expansion of the homebuyer tax credit. The new legislation benefits both first time homebuyers and current homeowners who sell their current home and buy another home. Buyers must sign a contract before April 30, 2010 and close by June 30, 2010 to qualify for the tax [...]

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Why you shouldn’t expect banks to make logical decisions on short sales and foreclosures

Thumbnail image for Why you shouldn’t expect banks to make logical decisions on short sales and foreclosures November 4, 2009

Over 4 months ago I helped a buyer write an offer on a short sale. I repeatedly checked-in with the listing agent who informed me that the sellers’ attorney contacted the bank that would have to approve the short sale every week only to get no response. Yesterday, the listing agent informed me that the [...]

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Baird & Warner releases mobile search for Chicago Metro Area homes for sale

October 12, 2009

Ever gone by a home for sale and wanted more details right then and there? Ever been in a neighborhood and wondered about the prices of homes for sale there? Now you can have the information you want when you want it for free with Baird & Warner’s new mobile search application for cell phones. [...]

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Financing options for some new Chicago condos improving

October 5, 2009

Crain’s Chicago Business is reporting that some new condo developments in areas including River North, Lincoln Park, and the West Loop are offering low interest, low down payment financing to spur sales.
Tightened financing for new condo developments has been holding back sales so the banks that financed the developers are now offering attractive financing to [...]

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Home purchases above $278,000 with 3.5% down payments must close by Dec. 31st!

October 2, 2009

Chicago Metro Area home buyers looking to take advantage of 3.5% FHA (Federal Housing Administration) financing for homes priced between $278,000 and $420,500 must close their home purchases by December 31st.
With the current $410,000 FHA loan limit, buyers can have a down payment as low as 3.5% which would let them purchase a home [...]

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