megan01+FollowChicago homebuyers face shrinking choicesFinding a home in Chicago just got tougher—available listings in the city dropped nearly 25% last month, making competition fierce even as sales slowed down for the season. Prices are holding steady or climbing, with the median sale price in the metro area now at $360,000. Statewide, home prices are up almost 5% from last year, despite fewer homes selling. For anyone hoping to buy, tight inventory and high prices are still big hurdles. How are these trends affecting your plans or neighborhood? Let’s talk about what you’re seeing out there. #RealEstate #ChicagoRealEstate #HomeBuying00Share
Brad Caldwell+FollowHow Mortgage Rates Sneak Into Your WalletEver wonder why your mortgage payment feels like a moving target? Here’s the scoop: today’s rates are higher than the pandemic lows, but not as wild as the 1980s. Even a 1% difference can mean hundreds more each month—so don’t just look at the house price, check that rate! Compare offers, know the difference between interest rate and APR, and use a calculator to see what you can really afford. The more you know, the less likely you’ll get caught off guard by your monthly bill. #RealEstate #MortgageTips #HomeBuying00Share
Denise Kemp+FollowHomeowner Headaches: The Real First-Year CostsSo you finally got the keys to your new place—congrats! But here’s the real talk: most buyers get hit with surprise repair bills in the first year, from leaky sinks to busted HVACs. Turns out, the “hidden” costs like utilities, insurance, and random fixes can feel like a second mortgage. Pro tip: stash some cash for repairs, and don’t skip the inspection. Your wallet will thank you when the water heater calls it quits! #RealEstate #HomeBuying #MoneyHacks00Share
Aaron Ballard+FollowWhy Your Mortgage Rate Isn’t Dropping YetThought the Fed’s rate cut would make home loans cheaper? Not so fast. Mortgage rates are actually up, leaving buyers frustrated and some even backing out of deals. Here’s the twist: mortgage rates follow the bond market, not the Fed’s headline moves. So even if the Fed tries to help, if investors worry about inflation, your monthly payment could still climb. If you’re house hunting, double-check those rates before signing anything! #RealEstate #mortgage #homebuying00Share
Brad Caldwell+FollowHouse Hunting About to Get Trickier?So, the CEO of Compass, Robert Reffkin, is shaking up how we find homes for sale. He wants to make Compass the go-to spot for exclusive listings—think VIP access before homes hit Zillow or other big sites. The drama? If this catches on, you might have to check multiple websites to see all your options, making house hunting a bit more like a scavenger hunt. Pro tip: Always ask your agent if there are any 'hidden' listings you should know about! #RealEstate #realestate #homebuying00Share
Heather Moore+FollowMortgage Rates Dip—Time to Shop?Here’s your coffee break tip: mortgage rates have finally slipped below 6% for both 30-year and 15-year loans. That’s a big change from the sticker shock we’ve seen in recent years. If you’ve been waiting for a sign to buy or refinance, this could be your window. Just remember, rates change fast—so if you spot a deal that fits your budget, it might be smart to lock it in before it bounces back. #RealEstate #MortgageRates #HomeBuying00Share
russellolson+FollowWhy Toll Brothers Is Ditching ApartmentsHeads up if you’re eyeing a new place: Toll Brothers just sold a massive Atlanta apartment tower for $132M, signaling they’re done with the apartment game and going all-in on luxury homes. The move means fewer new Toll Brothers apartments popping up, but if you’re into high-end houses, you might see more options soon. The big takeaway? Companies are doubling down on what they do best—so expect more swanky homes and fewer shiny new apartment towers from these guys. #RealEstate #HomeBuying #Investing00Share
russellolson+FollowThinking of Buying a Fixer-Upper? Read This First!Dreaming of snagging a deal on a fixer-upper? You’re not alone, but today’s high mortgage rates mean buyers are less willing to shell out for big renovations. While as-is homes can be 54% cheaper than move-in-ready places, repairs can quickly eat up your savings—think $20K for cosmetic fixes, or up to $80K for foundation issues. Pro tip: Budget at least 10-20% of the purchase price for repairs, and don’t forget to leave a cushion for surprises! #RealEstate #HomeBuying #FixerUpper00Share
davenportmeghan+FollowSolar panels on homes: What buyers must checkSolar panels can slash your energy bills, but if you’re buying a house with a solar lease, there’s more to consider than just the savings. In California, where solar is required on most new homes, realtors are urging buyers to dig into the lease details—especially if the company isn’t a big name. The lease could affect your mortgage approval, so always let your loan officer know early. Some buyers find out too late that the extra monthly payment pushes them over their budget. Have you bought a home with solar? Was it a smooth process or did you hit any snags? #RealEstate #SolarPanels #HomeBuying00Share
Brad Caldwell+FollowShould You Lock Your Mortgage Rate Now?Thinking about buying a home? Here’s the scoop: mortgage rates are still bouncing around, but locking in your rate now could save you thousands. If you wait for rates to drop, you might get burned if they jump instead. A rate lock means your payment won’t change, even if the market goes wild. Just remember, if rates drop after you lock, you might miss out unless your lender lets you renegotiate. The real hack? Prep your credit, save for a bigger down payment, and don’t stress about timing the market perfectly. #RealEstate #mortgage #homebuying00Share
