Northern Illinois Real Estate Videos & Market Updates

Will mortgage rates really climb to 9%? We've seen the headlines too, so here's the straight answer: today's market conditions just don't support it. Getting to 9% would take a rare mix of things all lasting for the next year: an economy growing much faster than normal, no slowdown in jobs, the conflict in Iran continuing to keep oil prices high, and the Fed raising its rate more than expected. That's a lot of dominoes that all have to fall the same way. If you're thinking about moving soon in the Fox Valley or Chicago suburbs, there's no need to let a headline change your plans. Have questions about where rates are headed? Reach out to The Kombrink Team at One Source Realty and we'll help you make sense of the forecasts.

Think every home seller is firm on their asking price? Not anymore. Recently, 41% of homes for sale had a price reduction, which means more sellers are showing a willingness to negotiate rather than let their home sit on the market. That doesn’t mean every house is suddenly affordable, but buyers may have more negotiating power, flexibility, and opportunity than they realize. If you’ve put your home search on hold, let’s take another look at what’s happening locally.

Home price growth slowed significantly over the past couple of years, but early data suggests it may be starting to pick up again. A few months don’t make a trend, and real estate is always local. Reach out to The Kombrink Team for a closer look at home prices across Kane and DuPage Counties and what the latest shift could mean for your move.