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June Update on the State of the Chicago Market

June. Was. Crazy. There was lots of speculation over what we thought could happen, although no one knew for sure. Once we saw numbers starting to creep back up in late April, we could see a market heating back up, but with demand rising faster than inventory. Buyers are more easily able to go back out…

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May Update on the State of the Chicago Market

When the COVID-19 pandemic hit in March, there was a frenzy in the market and most activity came to a screeching halt. March numbers were down year over year, but we wouldn’t see what was really happening in each neighborhood until we got the full month of April in. Well, as the month went on,…

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April Update on the State of the Chicago Market

Yesterday, Governor Pritzker announced a 30 day extension of the stay-at-home order for Illinoisans, meaning we are in this predicament until at least May 30th. While this is worrisome and frustrating for everyone, they are seeing positive outcomes from this order and hopefully we can start to resume some normalcy come June. As for the…

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An Update in Response to the Coronavirus Outbreak

I want to start off this post with a quote/meme I saw which perfectly sums up the present day: “I don’t even remember what we used to talk about before the coronavirus.” While it’s a very serious issue right now, we need to remain positive and think of ways we can best prepare for the…

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How Much Interest Rates Matter

If you haven’t been paying attention to the news recently, you may be missing out on the fact that mortgage rates are reaching all time lows. “Investors are fleeing to safe-haven investments amid renewed coronavirus fears, sending 10-year Treasury yields sharply lower and this, in turn, will push U.S. mortgage rates to new lows.” Bankrate –…

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How to Win a Multiple Offer Situation

  How to Win a Multiple Offer Situation in Chicago Buying a home in Chicago can be tricky during the chaos of the spring real estate season. If you’re trying to buy a home during this time of year, you need to be prepared to face multiple offer situations. In a multiple offer situation, two…

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Walking Away from a Home – Inspections

In part 1 of this series, I talked about walking away from a home when the property is overpriced and the seller isn’t being realistic. Sometimes you can open up the discussion with an offer and be surprised that a seller will be willing to accept a lower offer than you expect. And sometimes they…

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Walking Away from a Home – Negotiations

When you make an offer on a home, there are always a multitude of reasons why it may not work out. Sometimes it goes smoothly, other times you have to walk away. This series on walking away from a home purchase will look at a few of those reasons, drawing on the experiences I’ve had…

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A Tale of Two Listings (part 2)

As I was trying to sell the first place, I had another 2 bed/2 bath listing come on the market in Lakeview. This was a duplex in relatively older building with garage parking and some dedicated yard space. It held a special place in my heart because I had sold it to the owner, a…

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A Tale of Two Listings (part 1)

What follows is a tale of two listings. Real estate can be a perplexing game at times. Sometimes you know exactly how the market will react to a property and other times you are surprised by a listing that won’t sell or a buyer that does a complete 180 with their search. I recently had…

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