Fox Valley Real Estate Blog - Buying Tips

Why More Buyers Are Turning to New Construction This Year

There’s a trend taking hold in real estate right now: more buyers are choosing newly built homes. And it’s not just about getting the latest technology or modern floorplans. It’s because they may be able to get a better deal.

Builders are offering serious incentives today, and people are jumping on them.In fact,new home sales just hit their highest level in over two years (see graph below):

Why Builders Are Throwing in Perks

There are more newly built homes for sale right now than there have been in years. And as a buyer, that can help you in two big ways. It gives you more options to choose from on the market, and it motivates builders to sell their inventory before they build more.

That’s exactly why more buyers are scoring incentives like…

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Why October Is the Best Time To Buy a Home in 2025

If you’ve been watching from the sidelines, now’s the time to lean in. It’s officially the best time to buy this year. According to Realtor.com, this October will have the most buyer-friendly conditions of any month in 2025:

So, if you’re ready and able to buy right now, shooting for this month means you should see:

• More homes to choose from
• Less competition from other buyers
• More time to browse
• Better home prices
• Sellers who are more willing to negotiate

Just remember, every market is…

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3 Reasons Affordability Is Showing Signs of Improvement This Fall

For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.

But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.

The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below):

And here’s why this is happening. The cost of buying a home really comes down to three things:

• Mortgage rates
• Home prices
• Your wages

Right now, all three are finally…

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Builder Incentives Reach 5-Year High

Even with more homes on the market right now, some buyers are still having a tough time finding the right one at the right price. Maybe the layout feels off. Maybe it still needs some updating. Or maybe it’s just more of the same.

That’s why more buyers are turning to new construction – and finding some of the best deals available today.

Why? Today, many builders have more homes that are finished and sitting on the market than normal. And that means they’re motivated to sell. They’re running a business, and they don’t want to sit on their inventory. They want to sell it before they build more homes. And that can definitely work in your favor.

As Lance Lambert, Co-Founder of ResiClub, puts it:

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3 Advantages of Buying a Newly Built Home Today

Some Highlights

• Prices, rates, and finding the right home are three of the biggest challenges for buyers today. You may find better luck with all 3 if you look at newly built homes.
• There are more available. Builders are more flexible on prices right now. And people who buy new homes tend to get lower rates in this market thanks to the incentives builders can offer.
• Let’s connect if you want to see the new builds available in and around our area.

Originally posted at Simplifying The Market.

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The Truth About Down Payments (It’s Not What You Think)

Buying a home is exciting… until you start thinking about the down payment. That’s when the worry can set in.

“I’ll never save enough.”

“I need a small fortune just to get started.”

“I guess I’ll just rent forever.”

Sound familiar? You’re not alone. And you’re definitely not out of luck.

Here’s the thing: a lot of what you’ve heard about down payments just isn’t true. And once you know the facts, you might realize you’re a lot closer to owning a home than you think.

Let’s break it all down and bust some big down payment myths while we’re at it.

Myth 1: “I need to come up with a big down payment.”

This one stops a lot of people in their tracks. A recent poll from Morning Consult and NeighborWorks shows 70% of Americans think they…

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What Credit Score Do You Really Need To Buy a Home?

According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed.

Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying.

There’s No One Magic Number

There’s no universal credit score you absolutely have to have when buying a home. And that means there’s more flexibility than most people realize. Check out this graph showing the median credit scores recent buyers had among different home loan types:

…

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Why a Newly Built Home Might Be the Move Right Now

Are you looking for better home prices, or even a lower mortgage rate? You might find both in one place: a newly built home. While many buyers are overlooking new construction, it could be your best opportunity in today’s market. Here’s why.

There are more brand-new homes available right now than there were even just a few months ago. According to the most recent data from the Census and the National Association of Realtors (NAR), roughly 1 in 5 homes for sale right now is new construction. So, if you’re not looking at newly built homes, you’re missing out on a big portion of what’s available.

And with more new homes on the market, builders are motivated to sell their current inventory. As a result, many are taking steps to draw in buyers.

…

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Multi-Generational Homebuying Hit a Record High – Here’s Why

Multi-generational living is on the rise. According to the National Association of Realtors (NAR), 17% of homebuyers purchase a home to share with parents, adult children, or extended family. That’s the highest share ever recorded by NAR (see graph below):

And what’s behind the increase? Affordability. NAR explains:

In the past, caregiving was the leading motivator – especially for those looking to support aging parents. And while that’s still important, affordability is now the #1 motivator. And with current market conditions, that’s not really a surprise.

Pooling Resources Can…

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3 Reasons To Buy a Home This Summer

Are you thinking about buying a home, but not sure if now’s the right time? A lot of people are waiting and wondering what the market’s going to do next. But here’s something only the savviest buyers realize:

This summer might actually be the best time to buy in years. Here are three big reasons why.

1. You Have More Negotiating Power

After several years of sellers having all the leverage, things are starting to shift. Check out the graph below. It uses data from Redfin to show that right now, there are more sellers active in the market than buyers:

Take a look at what happened back in 2021 through roughly 2023. In that time period, there were far more buyers (the blue line) looking to buy than homes for sale (the green line). That’s what…

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