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Reasons To Move in Today’s Shifting Market
You have 3 key opportunities if you’re looking to move this fall. Inventory is growing, homebuilders are motivated to sell, and mortgage rates have come down from their recent peak. Let’s connect if you want more information.
Where Will You Go After You Sell?
If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for sale has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too.
So how do you decide which route to go? The choice is yours – you just need to figure out what’s most important to you.
Here are some benefits of buying a newly built home right now:
>>Have brand new everything with never-been-used appliances and materials
>>Use energy efficient options to save money and leave a smaller footprint
>>Minimize the need for repairs and benefit from builder warranties
>>Take advantage of builder concessions that can help with affordability
Ralph McLaughlin, Senior Economist at Realtor.com, shares, “Homebuyers who are looking for...
Where Will You Go After You Sell? If you’re planning to sell your house and move, you probably know there’s been a shortage of options available.
The Great Wealth Transfer: A New Era of Opportunity
In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.
Basically, as more Baby Boomers retire, sell businesses, or downsize their homes, more substantial assets are being passed down to younger generations. And this creates a powerful ripple effect that’ll continue over the next few decades.
Impact on the Housing Market
One of the most immediate effects of this wealth transfer is on the housing market. Home affordability has been a concern for many aspiring buyers, especially in high-demand areas. The increase in generational wealth is expected to ease some of these challenges by providing future homeowners with greater financial resources. As assets are passed down through generations, buyers may find themselves in a better position to afford homes.
Impact on...
The Great Wealth Transfer: A New Era of Opportunity In recent years, there’s been a significant shift in how wealth is distributed among generations.
Affordability has been a challenge for a while now.
There are three main factors that impact it: mortgage rates, home prices, and wages.
Here’s the good news. There are early signs that all three are starting to improve. Mortgage rates are coming down, home price growth is moderating, and wages are going up.
If you’re thinking about kicking off your search, DM me.
Thinking about selling, but not sure where you’ll go?
The good news is the supply of newly built and existing homes for sale has grown this year. That gives you more options – each with their own perks.
So, which will you choose? A charming existing home or a shiny new build?
Let me know which features you’re looking for in your next home. Drop your answer below.
Home Inspections For Sellers: How To Prepare
If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for. As supply grows and buyers regain negotiation power, you may find you want to do some select repairs with a good return on investment before listing to get ahead of things a buyer may ask you to fix. To decide what's worth tackling, you need expert advice. Let's chat so you know what to prioritize.
Home Inspections For Sellers: How To Prepare If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.
Getting ready to sell your house? Here’s the scoop on home inspections and how to prep for them.
As more homes hit the market, buyers are regaining some negotiating power. That means it might be a good idea to tackle some key repairs before listing.
But how do you know which ones are worth it?
Expert advice is key. Let's chat so you know what to prioritize.
Home Inspections for Sellers: How To Prepare
Wondering how to get your house ready for the inspection? You may want to do some select repairs before listing to get ahead. To decide what's worth tackling, you need expert advice. Let's chat so you know what to prioritize.
Wondering if a housing market crash is on the horizon? Think again.
Unlike 2008's oversupply issue, today we're facing an undersupply of homes.
From existing homes to new builds and even foreclosures, all inventory levels are significantly lower than during the last housing crisis.
The numbers are clear—today's inventory conditions are simply not the same.
Have you heard the good news?
Mortgage rates are down a full percent from their recent peak.
And if higher rates were the biggest thing keeping you on the sidelines, this may be exactly what you were waiting for.
If you’re ready to jump back into the market, DM me.
What Every Homeowner Should Know About Their Equity
Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.
Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.
Home Equity: What Is It and How Much Do You Have?
Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.
Recent data from the Census and ATTOM shows Americans have significant equity right now. In fact, more than two out of three homeowners have either completely paid off their...
What Every Homeowner Should Know About Their Equity Curious about selling your home?
Right now, over 2/3 of homeowners have at least 50% equity in their homes.
And that much equity can go a long way toward buying a new place.
Curious about how much equity you have? I can walk you through a Professional Equity Assessment Report on your house. Drop a comment below if you’re interested.
Caught between caring for your kids and aging parents? Here’s some good news.
In a recent survey, 1 in 3 people in this same situation find it actually makes it easier to afford a home.
That’s because a multi-generational home has big financial perks like sharing expenses and built-in childcare.
If you want to talk about whether this type of home is right for you, DM me.
3 Graphs That Show We’re Not Headed for a Housing Market Crash
Back in 2008, there were too many homes on the market. Today, it’s just the opposite. The three main sources of inventory show this isn’t like the last time.
There’s nothing sweeter than closing day, especially when we get to hand over the keys to a wonderful family! Lisa first met Eric and Mary at an open house last year as they began their homebuying journey. After touring several properties, they found a home that seemed perfect, only to discover during inspection that it had significant defects. It was a tough decision, but they wisely chose to walk away and continue their search. After all, we aren't in the business to just sell a house, we're here to help find a safe, comfortable place to call home.
Their perseverance paid off when they toured a new property at an open house and found the one that truly met their needs. We sprang into action, crafting a competitive offer with strong terms to demonstrate our commitment. Our strategy paid off, and we successfully secured the property among multiple competing bids!
We extend our heartfelt wishes for countless joyful moments and cherished memories in their new home. Thank you, Eric and Mary, for choosing Wenzel Select Properties. It has been a pleasure guiding you through this exciting new chapter in your lives!
Why the Sandwich Generation Is Buying Multi-Generational Homes
Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.
If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.
How Can It Help You Buy a Home?
Here are a few ways their caretaking situation might be helping those 33% buy a home:
• Sharing Expenses
• Built-In Childcare
Beyond just the financial reasons, buying a multi-generational home has other advantages. The Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) highlights some of the most popular, including:
• Easier To Care for Aging...
Why the Sandwich Generation Is Buying Multi-Generational Homes Are you a part of the Sandwich Generation?
Trying to decide if you want to sell or rent out your house once you move?
There’s a lot to consider – especially when it comes to figuring out if the profit is really worth the potential pains you might come up against.
Pro tip: Talking to another landlord plus professionals (like me) can help you decide what’s best for you and your situation.
We recently had the opportunity to assist our friends at Chamber630 in their search for a new office space. After exploring various options, we discovered that Downtown Downers Grove was the ideal location for their needs. We’re excited to share that we found a fantastic office that perfectly suits their requirements.
A heartfelt thank you to Beth for entrusting us with this important task and allowing us to be part of this transition. If you’re in the Downtown DG area, don’t miss the chance to visit them at their new location: 5117B Main Street, Office #2!
Are Home Prices Going To Come Down?
Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking at what a correction means.
Here’s what Danielle Hale, Chief Economist at Realtor.com, says: “In stock market terms, a correction is generally referred to as a 10 to 20% drop in prices . . . We don't have the same established definitions in the housing market.”
In the context of today’s housing market, it doesn’t mean home prices are going to fall dramatically. It only means prices, which have been increasing rapidly over the last couple years, are normalizing a bit. In other words, they’re now growing at a slower pace. Prices vary a lot by local market, but rest assured, a big drop off isn’t what’s happening at a national level.
From...
Are Home Prices Going To Come Down? Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening.
Selling your home? Don’t fall for these common mistakes.
The housing market is in a transition right now. And homeowners who don’t work with an agent are going to be more likely to miss the mark on things like pricing, selective repairs, and negotiation tactics.
With the right agent, you won’t get tripped up with avoidable challenges along the way.
Unlocking the Benefits of Your Home Equity
Home equity is the difference between how much your home is worth and how much you owe on your mortgage. And for most people it’s gotten a big boost in recent years, thanks to rising home prices. If you want to find out how much equity you have, reach out for a professional equity assessment report.
After hosting two highly successful open houses with dozens of visitors, our clients were presented with a range of compelling offers. After careful consideration and thorough evaluation of each proposal, they chose the offer that best met their needs and aligned with their goals. We are now in the exciting final stages of transferring ownership, and it won’t be long before the keys to this charming home are handed over to its new owners.
We want to extend our heartfelt congratulations to our sellers for this significant achievement and express our sincere gratitude for trusting us with your biggest investment. Your confidence in our expertise has been instrumental in achieving this successful outcome. Thank you once again for the opportunity to assist you in this process!
A Newly Built Home May Actually Be More Budget-Friendly
If you’re in the market to buy a home, there’s some exciting news for you.
Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.
Reason 1: Lower Median Prices for Newly Built Homes
The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, but it’s true according to the latest data from the Census and the National Association of Realtors (NAR).
Why is that? Builders are focused on building what they can sell. And right now, there’s a very real need for smaller and more affordable homes – so that’s what they’ve been bringing to the market.
Reason 2: Attractive Incentives from Home Builders
Another big reason to consider a newly built home is the range of incentives that many home...
A Newly Built Home May Actually Be More Budget-Friendly If you’re in the market to buy a home, there’s some exciting news for you.
Unlocking the Benefits of Your Home's Equity
Equity is the difference between what your house is worth and what you still owe on your mortgage. The typical homeowner gained $28,000 over the past year and has a grand total of $305,000 in equity. And there are a lot of great ways you can use that equity. Want to know how much equity you have? Let’s connect so you can get a Professional Equity Assessment Report (PEAR).
Unlocking the Benefits of Your Home's Equity Equity is the difference between what your house is worth and what you still owe on your mortgage.
How the Economy Impacts Mortgage Rates
As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.
One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.
The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are:
1. The Rate of Inflation
2. How Many Jobs the Economy Is Adding
3. The Unemployment Rate
What Does This Mean Moving Forward?
While mortgage rates are...
How the Economy Impacts Mortgage Rates As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.
Inflation is cooling – and that’s a good sign for mortgage rates.
Once the rate of inflation reaches the Fed's target of 2%, they may lower the Federal Funds Rate. When they do, mortgage rates are likely to respond.
But this isn't the only factor at play. For the latest updates on what’s happening, follow me.
Why a Foreclosure Wave Isn’t on the Horizon
Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming?
Here's a look at why the data and the experts say that’s not going to happen.
There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages
One of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending standards made it easy for people to take out mortgages, even when they couldn’t show they’d be able to pay them back. At that time, lenders weren’t being as strict when looking at applicant credit scores, income levels, employment status, and debt-to-income...
Why a Foreclosure Wave Isn’t on the Horizon Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets.
Looking to buy a home soon?
You’ll want to avoid common mistakes that’ll cost you time, frustration, and money. This includes things like putting off your pre-approval, holding out for perfection, and more.
And having a pro like me on your side is the best way to do that.
Have questions or need advice? Feel free to drop them below or DM me.
How Affordability and Remote Work Are Changing Where People Live
There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.
Consider Moving to a More Affordable Area
Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower.
If you’re hoping to buy a home soon, it might make sense to broaden your search area to include places where homes that fit your needs are more affordable. That’s what a lot of other people are doing right now to find a home within their budget.
Remote Work Opens Up More Home Options
If you work remotely or drive into the office only a few times each week, you have many...
How Affordability and Remote Work Are Changing Where People Live There’s an interesting trend happening in the housing market.
How To Determine if You’re Ready To Buy a Home
If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. Instead of trying to time the market, focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move.
1. Do You Have a Stable Job?
One thing to consider is how stable you feel your employment is.
2. Have You Figured Out What You Can Afford?
If you have reliable paychecks coming in, the next thing to figure out is what you can afford.
3. Do You Have an Emergency Fund?
Another key factor is whether you’ll have enough cash leftover in case of an emergency.
4. How Long Do You Plan To Live There?
5. Above all else, the most important question to answer is: do you have a team of real estate professionals in place?
If not, finding a trusted local agent and a lender is a good first step. The...
How To Determine if You’re Ready To Buy a Home If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind.
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Downers Grove, IL
60515
5122A Main Street
Downers Grove, 60515
Selling DuPage County real estate since 2001.
1219 Ogden Avenue
Downers Grove, 60515
Helping buyers and sellers to connect since 1987.Serving Downers Grove, IL. and the surrounding area
5200 Main Street
Downers Grove, 60515
Mother/Daughter Real Estate Team Meeting Your Home Selling and Buying Goals in Dupage County, IL and Beyond!
4901 Main Street
Downers Grove, 60515
Realtor ~ Public Safety Professional ~ text DWKhomes to 85377
5122 Main Street
Downers Grove, 60515
Betty got into real estate in 2017 and being a Realtor allows her to pair her love of homes and helping people buy, rent and/or sell in ILLINOIS and FLORIDA.
Downers Grove, 60515
Real Estate Broker working in the local southwest suburbs. Experienced with first-time home buyers,
5200 Main Street #220
Downers Grove, 60515
Katie Sobie is passionate about helping her clients every step of the way. As a third generation age
5122 Main Street
Downers Grove, 60515
Chris Nava comes from a construction family background which has allowed him to gain extensive knowledge in Real Estate development. Working out of the Keller Williams office in Do...
724 Ogden Avenue
Downers Grove, 60515
REALTOR at Baird & Warner committed to serving clients by educating and empowering them to be as equ
5150 Main Street, Unit C
Downers Grove, 60515
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