At the start of this year I wrote my first blog post on foreclosures and short sales, “Short Sales are Anything But“. The post explains how the process of buying a foreclosure or short sale can take much longer than normal since some banks can take weeks or even months to respond to offers. Some […]
Why Condo Sales Reps Don’t Lookout for Buyers
Call Me Well Before You Visit A New Home Sales Office!
Yesterday a woman wrote me looking for help with a condo purchase. Three years ago she signed a contract and put 10% down on a condo in the South Loop. The condo will be ready early next year and she now realizes that she won’t be able to get a mortgage for it. The only […]
Why Real Estate Stats Can Be Misleading
In Sunday’s Chicago Tribune, real estate columnist Mary Umberger’s headline was “Near South Side homes selling, on average, for more than list price“. Mary reported Zip Realty’s finding that homes in the 60605 zip code had sold for an average of 106.4% of list price during the latest quarter! This is certainly the kind of […]
What Home Buyers Need to Know About Seller Rate Buydowns
Today in my office’s sales meeting our loan consultant talked about seller interest rate buydowns. That’s when the seller pays to lower the buyer’s mortgage interest rate. If home buyers will be living in the home for at least 5 years and staying with that loan, it can be a great deal for them since […]
