Fox Valley Real Estate Blog - For Buyers

House Hunting Just Got Easier – Here’s Why

If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains:

The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy spring season, here’s why this is so important right now.

Homeowners are listing their houses at the highest pace we’ve seen in a while.

New Listings Are on the Rise

Over the…

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Things To Avoid After You Apply for a Mortgage

Some Highlights

• Once a lender has reviewed your finances as part of the homebuying process, you want to be as consistent as possible. Don’t make any big changes that could affect your mortgage application.
• Here are a few tips. Don’t change bank accounts or apply for new credit. And this one may surprise you, don’t buy appliances or furniture for your next home yet either.
• The best tip of all? Before you do anything financial in nature, talk to your lender first.

Originally posted at Simplifying The Market.

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Townhomes: A Smart Solution for Today’s First-Time Buyers

Buying your first home in today’s market can feel tough. Between high home prices and mortgage rates, affordability is still a big challenge. And some buyers are making one simple trade-off that’s getting them in the door faster: square footage.

According to the National Association of Home Builders (NAHB), 35% of buyers are willing to purchase something smaller to make homeownership happen. And one place you can usually find a smaller footprint (and sometimes better affordability) is in townhomes.

Why Townhomes Are Gaining Popularity

Townhomes typicallycost less than single-family homes due to their more limited size.And that’s a big plus for today’s budget-conscious buyer. As Realtor.com says:

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Here’s What a Recession Could Mean for the Housing Market

Recession talk is all over the news, and the odds of a recession are rising this year. And that leaves people wondering what would happen to the housing market if we do go into a recession.

Let’s take a look at some historical data to show what’s happened in housing for each recession going all the way back to the 1980s.

A Recession Doesn’t Mean Home Prices Will Fall

Many people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time we saw such a steep drop in prices. And it hasn’t happened since.

In fact, according to data from CoreLogic, in four of the last six recessions, home prices actually went up (see graph below):

So, if you’re thinking about buying…

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Paused Your Moving Plans? Here’s Why It Might Be Time To Hit Play Again

Last year, 70% of buyers abandoned their home search – and maybe you were one of them. It makes sense. Inventory was low, prices were high, and mortgage rates were up and down like a rollercoaster. All of that made it really hard to find a home you loved – and could afford.

But guess what? The market is shifting.

So, if you paused your moving plans in 2024, it might be time to hit play again. Here’s why.

More Inventory Opens Up More Options

Even if you could make the numbers work, the lack of available homes in recent years probably made it hard to come by something that fit your needs. But inventory is rising, which means you have more options now.

According to Realtor.com, inventory has jumped 27.5% since this time last year (see graph…

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4 Things To Expect from the Spring Housing Market

Spring is in full swing, and the housing market is picking up along with it. And if you’ve been wondering whether now is the right time to buy or sell, here’s the inside scoop on why this spring may be a great time to make your move.

1. There Are More Homes for Sale

After a long stretch of tight inventory, the number of homes for sale is finally improving. According to recent national data from Realtor.com, active listings are up 27.5% compared to this time last year.

Look at the graph below and follow the green line for 2025. You can see, even though inventory levels still haven’t returned to pre-pandemic norms (shown in gray), that number is higher than it has been going into the spring market over the past few years (see graph below):

…

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Your Roadmap to Homeownership

Some Highlights

• Buying a home isn’t just a transaction – it’s a journey. And like any great adventure, having a solid roadmap makes all the difference. ​
• From building your dream team to getting pre-approved, house hunting, and signing the papers on closing day – each milestone is an achievement.
• Your journey starts here. Let’s connect so you have help every step along the way.​

Originally posted at Simplifying The Market.

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How Buying or Selling a Home Helps Your Local Economy

Whether you’re buying or selling a house, here’s something to think about that most people don’t. Your decision doesn’t just impact your life and your family’s, it sparks a ripple effect that has a positive impact on your entire community.

Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes.

The data shows that if you buy an existing (previously lived-in) home, you're giving the local economy a boost of just over $60K. And if you buy a newly built home, that number goes up to over $125K (see visual below):

That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of…

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What You Need To Know About Homeowner’s Insurance

Homeowner’s insurance is a must-have to protect what’s probably your biggest investment – your home. And while you never want to think about worst-case scenarios, the right coverage is basically your safety net if something goes wrong. Here’s how it helps you.

• Covers Repairs and Rebuilding Costs: If your home is damaged by fire, storms, or other covered events, your policy helps pay for repairs or even a full rebuild.
• Protects Your Belongings: Many policies can also cover personal items like furniture, electronics, and clothing if they’re stolen or damaged.
• Provides Liability Coverage: If someone gets injured on your property, homeowner’s insurance can help cover medical bills or legal expenses.

In the simplest sense, it gives you peace…

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Geneva, Illinois Real Estate Market Update – March 2025

The real estate market in Geneva, Illinois, continues to evolve, offering both opportunities and challenges for buyers and sellers. With record-low inventory levels and increasing demand, the market remains highly competitive. Whether you are looking to buy or sell, understanding the latest trends can help you make informed decisions.

Low Inventory Creates a Competitive Market

One of the most significant challenges in Geneva’s real estate market right now is the historically low inventory. Currently, the Months Supply of Inventory is at just 0.83 months. This means that if no new homes were listed, the current supply would be sold out in less than a month.

To put this into perspective, a balanced market typically has around 4 to 6…

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