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Some Highlights

  • A study shows that 70% of prospective buyers fear the long-term consequences of renting. And here’s why.​
  • Rent usually rises over time and that can make it harder to save up to buy a home. But when you buy, you can stabilize your housing expenses and grow your net worth as home values rise.
  • While renting may be the less expensive option in some markets, it can’t match the long-term benefits of homeownership. What’s your #1 reason for wanting to buy?​

Originally posted at Simplifying The Market.

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1243 Payne Ave, Batavia, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 3 BATHROOMS 0.28 acres Lot

Welcome to this exceptional custom-built home in the desirable Harvell Farms neighborhood of Batavia! Situated on a large corner lot, this home boasts professional landscaping (2023-2024) and a beautiful brick paver patio, perfect for outdoor relaxation and entertaining. Enjoy mornings on the charming front porch before stepping inside to discover an inviting layout. The oversized family room features a brick fireplace, elegant trim details, and plenty of natural light. The bright eat-in…

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Over the past few years, you’ve probably seen a whole lot of headlines about how home prices keep going up. But have you ever stopped to think about what that actually means for your home?

Home prices have risen dramatically over the past five years — far more than usual. And if selling has been on your mind, this could mean a bigger-than-expected payday when you list. So, how much has your home’s value really changed? Let’s break it down.

The Rapid Rise of the Past 5 Years

Typically, home prices go up by about 2-5% a year. But in 2021-2022, there were double-digit increases. And at the peak, prices rose by a staggering 20% or more nationally. Why? There were way more buyers than homes available, which sent prices soaring. While things have…

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929 Mark Twain Trl, Batavia, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 4 BATHROOMS 0.47 acres Lot

Welcome to 929 Mark Twain Trl in Batavia's coveted Prairie Trails neighborhood-a true gem set on an almost half-acre landscaped corner lot. This meticulously maintained home blends classic charm with modern updates, boasting a striking brick and cedar exterior and an inviting entryway with a leaded glass door, sidelights, and transom. Inside, discover an expansive open floor plan highlighted by vaulted ceilings, gleaming hardwood floors, and neutral decor that flows seamlessly between a…

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807 Bailey Ln, Hampshire, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 3 BATHROOMS 0.28 acres Lot

Welcome to your dream home at 807 Bailey Ln in the highly sought-after Hampshire Highlands neighborhood of Hampshire, IL! This stunning 4-bedroom, 2.5-bathroom vinyl and brick two-story home boasts over 3,400 sq ft of luxurious living space, perfect for growing families or entertaining guests. Step inside to a grand 2-story entryway and be greeted by elegant trim details, a spacious living room, and a formal dining room. The heart of the home is the 2-story family room,…

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Are you trying to buy a home but you feel like you’re up against deep-pocketed Wall Street investors snatching up everything in sight? Many people believe mega investors are driving up prices and buying up all the homes for sale, and that’s making it hard for regular buyers like you to compete.

But here’s the truth. Investor purchases are actually on the decline, and the big players aren’t nearly as active as you might think. Let’s dive into the facts and put this myth to rest.

Most Investors Are Small, Not Mega Investors

A common misconception is that massive institutional investors are dominating the market. In reality, that’s not the case. The Mortgage Reports explains:

“On average, small investors account for around 18% of the…

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Many people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, experts say rates will decline, but not by as much as a lot of people want.

The good news? Even if they don’t drop substantially, there are still ways to make buying a home more affordable.

How Much Will Rates Drop?

A few months ago, experts were forecasting mortgage rates could dip below 6% by the end of the year. But recent projections suggest that may not happen after all.

While mortgage rates are still expected to decline some later this year, projections from Fannie Mae, the Mortgage Bankers Association (MBA), and Wells Fargo now show them stabilizing closer to the 6.5% to 7% range (see below):

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Some Highlights

  • With more homes for sale and buyers being more selective, it’s smart to make strategic updates.​ But how do you decide what’s worth doing? ​You lean on an agent.
  • An agent will be able to tell you what buyers want, quick wins that’ll have a big impact, and what projects have the best ROI.
  • What projects are on your to-do list before selling? With only a month left before spring, let’s connect so you know what’s worth the time and effort. 

Originally posted at Simplifying The Market.

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For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.

As the National Association of Realtors (NAR) explains:

“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”

What Are Seller Concessions? 

Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of…

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After years of suburban and rural migration during the pandemic, cities have been making a comeback in the past couple of years. According to the National Association of Realtors (NAR), the percentage of people moving to cities has risen to 16%. While that may not sound like a big number to you, it is the highest level in a decade – and that’s a big deal (see graph below):

And data from BrightMLS seems to confirm this trend. In a recent survey, 1 in 5 (20.6%) people looking to buy say they want to live in the city.

So, what’s behind this ongoing shift back to urban living? Let’s break down the top three reasons why people are trading quiet suburbs for bustling cityscapes. You may find out you want to sell your house with a big yard and move to an…

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