Found 372 blog entries tagged as For Buyers.

If you’re thinking about buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move.

The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know.

The Latest on Mortgage Rates

Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is complicated because rates are affected by so many factors.

Things like what’s happening in the broader economy and the job market, the current inflation rate, decisions made by…

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Today we’re taking you on an exclusive tour of the top neighborhoods in Naperville, Illinois. Whether you are contemplating buying a new home or just curious about real estate in the area, Naperville offers a variety of communities that cater to different lifestyles and preferences.


Naperville: A Snapshot

Naperville is celebrated for its picturesque downtown, exemplary schools, and beautiful homes, making it a highly desirable location for prospective homeowners. As we delve into what makes each neighborhood stand out, you’ll see why many are choosing to call Naperville their home.

White Eagle: Luxury and Community

First on our list is the White Eagle neighborhood. This affluent area boasts luxurious homes, top-tier schools, and an…

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Welcome to our latest update on South Elgin real estate, brought to you by Nick Kein of The Kombrink Team. As your dedicated local REALTOR® in South Elgin, Illinois, I am here to provide you with the most current and relevant information to help you navigate the real estate market, whether you're buying or selling a home.


April 2024 Market Overview

The South Elgin real estate market is currently experiencing a notable trend of low inventory. As of April 2024, there is only a 0.91 month supply of inventory. This figure is remarkably low, suggesting that if no new homes were listed starting today, it would take less than a month to sell all the homes currently on the market. This is a significant decrease from the past, with a 51%…

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Hey Wheaton neighbors and future residents! We’re excited to bring you some vital market updates that could significantly influence your buying or selling decisions in today’s dynamic real estate environment.


Current Market Overview

The local real estate scene is tighter than ever, with the Months Supply of Inventory (MSI) now at a mere 0.46 months. To put it into perspective, that's a dramatic 75.14% drop from last year. This significant decrease means we are in a seller's market, so if you're contemplating listing your home, it's an excellent time to do so. For sellers, this could be your golden ticket to a profitable sale as demand outstrips supply.

What Buyers Should Know

For buyers, the heat is on! With homes selling for an…

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Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says:

“We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.”

Here’s a look at the latest data for the three biggest factors that affect home affordability: mortgage rates, home prices, and wages.

1. Mortgage Rates

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Are you on a quest to find the perfect home in Elgin, IL? Your search ends here! At The Kombrink Team, we're not just realtors; we're your dedicated partners in navigating the real estate market. With over 30 years of experience under our belt, we are proud to offer you exceptional real estate services that are a cut above the rest.


Family-Owned, Client-Approved

As a family-owned and operated business, The Kombrink Team values relationships. Our clients are like family, and we believe in treating each one with the respect and dedication they deserve. It's not just about transactions for us; it's about building lasting relationships and ensuring that you feel supported throughout your home buying…

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You may have seen reports in the news recently saying it’s more affordable to rent right now than it is to buy a home. And while that may be true in some markets if you just look at typical monthly payments, there’s one thing that the numbers aren’t factoring in: and that’s home equity. Here’s a look at how big of an impact equity can have and why it’s worth considering as you make your decision.

What the Headlines Are Based on

The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare the two options. As the graph shows, especially if you’re not looking for a lot of space, it can be more affordable on a monthly basis to rent:

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But…

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Hello everyone, I'm Miles Tischhauser with The Kombrink Team, your dedicated local REALTOR® in Sycamore, Illinois. Today, I'm excited to share with you our real estate market update for April 2024. Whether you're planning to buy or sell a home in our area, staying informed is key to making the best decisions. Here's what you need to know about the current market trends in Sycamore.


Current Market Overview

The current Months Supply of Inventory (MSI) in Sycamore stands at 1.74. This figure indicates that if no new homes were listed, it would take just under two months to sell all the homes currently on the market. Compared to last year, the MSI has increased by almost 29%, suggesting a slight shift toward a more balanced market between buyers…

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Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains:

“If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.”

While how much money you may get in a tax refund is going to vary, it can be encouraging to have a general idea of what’s possible. Here’s what CNET has to say about the average increase people are seeing this…

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In this blog post, we're diving into the DeKalb real estate market's latest statistics for April 2024, offering insights for both buyers and sellers looking to navigate this dynamic landscape.


Current Market Conditions

As of April 2024, DeKalb's real estate market shows promising signs of growth and opportunity. With a 1.1 Months Supply of Inventory, there's been a significant increase of 39.24% over the past year. This uptick in inventory provides more options for buyers searching for their ideal home.

Dekalb IL March 2024 Months Supply of Housing Inventory

Pricing Trends

The market's competitiveness is further highlighted by the List to Sold Price ratio, which stands strong at 101.1%. This indicates that homes are selling at or above their listing price, a trend that benefits…

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