Fox Valley Real Estate Blog - For Buyers

Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff

Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%).

While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect?

According to the latest forecasts, rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 (see graph below):

In other words, no big changes are expected.…

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Are These Myths About Buying a Newly Built Home Holding You Back?

If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.

Myth 1: New Homes Are More Expensive

It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.

Data from Censusand the National Association of Realtors(NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):

So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains:

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A Second Home Might Be the Missing Piece in Your Retirement Plan

Are you wondering if you’re on track to retire someday?

According to Intuit, 69% of people say today’s financial environment makes it tough to plan for the future, and 68% aren’t sure they’ll ever be able to retire. That’s why many people are exploring new ways to build stability and long-term income.

And that’s where real estate comes in.

Why Real Estate? Here’s What It Can Do for You

If you’re able to make the numbers work, buying a second home can be a powerful tool for your future retirement. It could help you:

• Build wealth over time: As home prices rise through the years, your second home should grow in value and increase your net worth.
• Generate extra income: Renting the home could bring in some extra income you can add to your…

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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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Home Price Forecasts for the Second Half of 2025

Some Highlights

• With all the headlines circulating recently, you may be wondering what’s next for home prices? Here’s what the expert forecasts say.
• Home prices are still forecast to rise nationally this year, just at a much slower pace. But price trends are going to vary by area.
• To have a quick conversation about what’s happening in our local market, let’s connect.

Originally posted at Simplifying The Market.

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Today’s Tale of Two Housing Markets

Depending on where you live, the housing market could feel red-hot or strangely quiet right now. The truth is, local markets are starting to move in different directions. In some places, buyers are calling the shots. In others, sellers still hold the power. It’s a tale of two markets.

What’s a Buyer’s Market vs. a Seller’s Market?

In a buyer’s market, there are more homes for sale and not as many buyers. That means homes sit longer, buyers have more negotiating power, and prices tend to soften as a result. It’s simple supply and demand.

On the flip side, a seller’s market happens when there aren’t enough homes available for the number of people looking to buy them. Because buyers have to compete with each other to get the house they want, that…

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Housing Market Forecasts for the Rest of 2025

If you’ve been watching the market, you’ve likely noticed a few changes already this year. But what’s next? From home prices to mortgage rates, here’s what the latest expert forecasts suggest for the rest of 2025 – and what these shifts could mean for you.

Will Home Prices Fall?

Many buyers are hoping home prices will come down soon. And recent headlines about prices dipping in some areas are making some people believe it's just a matter of time before there’s a bigger drop. But here are the facts.

While home price growth is slowing down, that doesn’t mean we’re headed for a crash. As NAHB explains:

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The U.S. Foreclosure Map You Need To See

Foreclosure headlines are making noise again – and they’re designed to stir up fear to get you to read them. But what the data shows is actually happening in the market tells a very different story than what you might be led to believe. So, before you jump to conclusions, it’s important to look at the full picture.

Yes, foreclosure starts are up 7% in the first six months of the year. But zooming out shows that’s nowhere near crisis levels. Here’s why.

Filings Are Still Far Below Crash Levels

Even with the recent uptick, overall foreclosure filings are still very low. In the first half of 2025, just 0.13% of homes had filed for foreclosure. That’s less than 1% of homes in this country. In fact, it’s even far less than that at under a quarter of a…

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