Found 372 blog entries tagged as For Buyers.

Introduction

Nestled in the heart of Illinois, Naperville boasts beautiful neighborhoods, top-rated schools, and a vibrant community. It’s no wonder that the Naperville real estate market is flourishing. With a diverse array of housing options, ranging from single-family homes to luxury estates, there's truly something for everyone in this charming city.

Naperville IL real estate market trends analysis

A Glimpse at the Naperville Real Estate Market

Houses for Sale in Naperville

Naperville’s real estate market has seen a surge in demand, pushing property prices steadily upwards. Recent data reveals that the median home price in Naperville stands at $595,000, marking a 5% increase from the previous year. This upward trend is likely to persist as more buyers are attracted to the area for…

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As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.

The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are:

  1. The Rate of Inflation
  2. How Many Jobs…

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If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie.

Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.

Reason 1: Lower Median Prices for Newly Built Homes

The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, but it’s true according to the latest data from…

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Hello, and welcome to the Kombrink Team's blog! I'm Kris, with The Kombrink Team at One Source Realty, and today we’re going to discuss the five essential things you need to know before moving to Geneva, IL. Geneva is a beautiful and vibrant city, but before you make that move, there are a few key points you should consider. Let’s dive right in.

The Housing Market in Geneva, Illinois

housing market geneva illinois

The first thing you need to know is about the housing market in Geneva. The real estate market here is thriving, offering a variety of housing options to suit every budget. Whether you’re looking for charming historic homes that exude character and history or modern condos with the latest amenities, Geneva has something for everyone.

In recent years, the…

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There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.

Consider Moving to a More Affordable Area

Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains:

“Housing affordability has always mattered . . . and you’re seeing it across the country. Housing affordability is reshaping migration trends.”

If you’re hoping to buy a home soon, it might make sense to broaden your search area…

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Some Highlights

  • Want to know the biggest mistakes homebuyers are making today?
  • They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro.
  • Let’s connect to make sure you have a pro on your side who can help you avoid these mistakes.

Previously posted at Simplifying The Market.

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There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:

  • They couldn’t find anything in their price range
  • They didn’t have any successful offers or had difficulty competing
  • They couldn’t find the right home

If any of these sound like why you stopped looking, here’s what you need to know. The housing market is in a transition in the second half of 2024. Here are four reasons why this may be your chance to jump back…

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If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. You’re thinking about your finances, today’s mortgage rates and home prices, the limited supply of homes for sale, and more. And, you’re juggling how all of those things will impact the choice you’ll make.

While housing market conditions are definitely a factor in your decision, your own personal situation and your finances matter too. As an article from NerdWallet says:

“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”

Instead of trying to time the market, focus on what you can control. Here are a few questions that can…

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Hey there, Elgin!

It's The Kombrink Team, your go-to REALTOR® team for all things real estate in our wonderful city.

Today, we've got some exciting market updates for you all, so let's dive right in.

Current Market Overview

As of July 2024, we currently have a 1.32 Months Supply of Inventory in Elgin.

That means we're seeing a slight decrease of 10.8% in inventory over the last 12 months, making it a competitive market for both buyers and sellers.

Months supply of housing inventory Elgin IL July 2024

Selling in Elgin

But here's the good news - the List to Sold Price percentage is at a solid 101.3%, showing that homes in Elgin are selling for above asking price.

And with a median days on market of just 11 days, homes are flying off the market faster than ever.

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Hey there, Aurora!

It's The Kombrink Team here with an exciting market update for July 2024.

Inventory and Competition

Let's dive into the numbers, shall we?

Currently, we have a tight 1.15 Months Supply of Inventory here in Aurora.

Months supply of housing inventory in Aurora, IL for July 2024

That's a decrease of 6.5% compared to the last 12 months.

What does this mean for buyers and sellers?

Well, competition is fierce.

Sellers are seeing their homes fly off the market at a list-to-sold price percentage of 102.3%.

Quick Sales

And for those of you looking to sell, the median days on market is only 6 days.

That's right, your home could be sold in less than a week!

Price Trends

The median sold price in Aurora is currently sitting at $340,000.

This shows…

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