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Some Highlights

  • Mortgage rates are trending down and that’s great news for your bottom line.
  • As rates drop, your monthly payment on your next home does too. Even a small change in mortgage rates can have a big impact on your purchasing power.
  • If you put your search on hold when mortgage rates were higher, think about how much you could save now that rates are coming down.

Originally posted at Simplifying The Market.

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Are you considering a move to North Aurora, Illinois? Whether you're a first-time homebuyer or a seasoned real estate investor, relocating to a new area is a big decision that requires careful planning. North Aurora, a charming suburb in Kane County, offers a unique blend of suburban tranquility and easy access to urban amenities. In this blog post, we'll cover five essential tips you need to know before making your move to North Aurora, IL. From understanding the local housing market to exploring community amenities, these insights will help you make an informed decision and ensure a smooth transition to your new home.

North Aurora, IL: An Overview

North Aurora Illinois

Located in the heart of Kane County, North Aurora provides its residents with a picturesque…

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If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent.

After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower mortgage rates are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at Bright MLS, says:

“A drop…

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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…

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In today’s fast-paced real estate market, Geneva homeowners are in a prime position to maximize the value of their property. Geneva, with its picturesque homes, inviting streets, and tight-knit community, has always been a desirable place to live. But what truly sets this moment apart is the unique combination of market conditions that make selling a home in Geneva an especially lucrative decision right now.

Geneva's Booming Real Estate Market

Over the past year, Geneva has experienced a remarkable surge in home prices. With limited inventory available, the demand for homes is outpacing the supply, putting sellers in the driver’s seat. Buyers are actively seeking properties in the area, and with competition so fierce, they’re often willing to…

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Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment.

Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac, says:

“Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.”

But if you want to see it to really believe it, here’s how the math shakes out. Take a closer look at the impact on your monthly payment.

The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you…

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Wheaton, Illinois Real Estate Market in September 2024: Fast-Moving, Competitive, and Thriving

If you’re considering buying or selling in Wheaton, Illinois, now might be the perfect time. The September 2024 real estate market is hot, with homes moving quickly, selling for strong prices, and competition driving up values. The Kombrink Team at One Source Realty is here to break down the latest numbers and help you understand what’s happening in Wheaton’s real estate scene. Whether you’re looking to snag your dream home or capitalize on selling your property, the data shows that the Wheaton market is full of opportunity.

Let’s dive into the numbers and see why now is such a promising time to make a move in Wheaton.

1.5 Months Supply of…

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A Hot Real Estate Market in Sycamore: What Buyers and Sellers Need to Know

Welcome to the September 2024 real estate market update for Sycamore, Illinois, brought to you by The Kombrink Team. Whether you’re a buyer searching for your dream home or a seller looking to maximize your property’s value, this is an exciting time to be involved in the Sycamore housing market.

Let’s dive into the numbers and get a clear picture of why the Sycamore real estate market is moving so quickly—and what that means for you.

2.3 Months Supply of Inventory: A Seller's Advantage

Currently, Sycamore is operating with a 2.3 months supply of inventory. This means homes are selling fast, making it a seller’s market. In real estate terms, anything below six…

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A Look at the Sugar Grove Real Estate Market in September 2024

As we move through September 2024, the real estate market in Sugar Grove, Illinois is showing some exciting trends that are sure to grab the attention of both buyers and sellers. The Kombrink Team at One Source Realty is here to provide you with the latest market data so you can take full advantage of these trends, whether you’re looking to buy your dream home or sell your property at top dollar.

Let’s dive into the numbers and explore why now is a fantastic time to get involved in the Sugar Grove real estate market.

2.01 Months Supply of Inventory: A Seller's Dream

As of September 2024, Sugar Grove is experiencing a 2.01 months supply of inventory, which is a clear indicator…

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A Closer Look at the St. Charles Real Estate Market in September 2024

Welcome to the September 2024 real estate market update for St. Charles, Illinois! If you’re considering buying or selling a home in this thriving city, you’re in luck because the market is balanced and healthy, offering excellent opportunities for both buyers and sellers. The Kombrink Team is excited to share all the latest data with you so you can make informed decisions about your real estate plans.

Let’s break down the numbers and explore what’s happening in St. Charles.

A Balanced Market with 3.62 Months of Inventory

Right now, St. Charles has a 3.62 month supply of inventory. What does this mean? In simple terms, this level of inventory reflects a balanced market

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