Chicago's North Shore - North and Northwest Suburbs Real Estate Archive

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October 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The October 2017 Midwest Real Estate Market Reports are now ready for your review. These market reports provide an insight on the real estate market statistics for Cook County and Lake County. These statistics are helpful when you are considering buying or selling in today’s real estate market.  And, remember should you need tailored reports on a subdivision or neighborhood in the North ShoreNorth, and Northwest Suburban Chicago, Illinois area, please let me know.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager 
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

August 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The August 2017 Midwest Real Estate Market Reports are now ready for your review. These market reports provide an insight on the real estate market statistics for Cook County and Lake County. These statistics are helpful when you are considering buying or selling in today’s real estate market.  And, remember should you need tailored reports on a subdivision or neighborhood in the North ShoreNorth, and Northwest Suburban Chicago, Illinois area, please let me know.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager 
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

July 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The July 2017 Midwest Real Estate Market Reports are now ready for your review. These market reports provide an insight on the real estate market statistics for Cook County and Lake County. These statistics are helpful when you are considering buying or selling in today’s real estate market.  And, remember should you need tailored reports on a subdivision or neighborhood in the North ShoreNorth, and Northwest Suburban Chicago, Illinois area, please let me know.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager 
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

Facebook
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Google +1 
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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

June 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The June 2017 Midwest Real Estate Market Reports are now ready for your review. These market reports provide an insight on the real estate market statistics for Cook County and Lake County. These statistics are helpful when you are considering buying or selling in today’s real estate market.  And, remember should you need tailored reports on a subdivision or neighborhood in the North ShoreNorth, and Northwest Suburban Chicago, Illinois area, please let me know.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager 
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

Facebook
Twitter
LinkedIn
Google +1 
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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

May 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The May 2017 Midwest Real Estate Market Reports are now ready for your review. These market reports provide an insight on the real estate market statistics for Cook County and Lake County. These statistics are helpful when you are considering buying or selling in today’s real estate market.  And, remember should you need tailored reports on a subdivision or neighborhood in the North ShoreNorth, and Northwest Suburban Chicago, Illinois area, please let me know.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager 
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

Facebook
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Google +1 
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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

2014 Housing Forecast

by Allyson Hoffman

The chill in the air is accompanied by a flurry of activity in predictions for the real estate market in 2014.  Real estate associations, along with national economists have already put figures to their forecasts for the upcoming year.  And the public wants to know.  Those looking to purchase in 2014 are eager to know where they stand in terms of financing, as well as in which direction to focus their house hunting.  And those contemplating selling their homes anxiously await the prediction of a rise, or decline in housing prices.  The most ideal way to determine what is best for you in the upcoming year is to contact your local real estate agent.  They should be the most familiar with the projection for your area.

So far, chief economists are expecting a flat pace of sales.  The most recent numbers project a 6% increase in property values and a 4.16% to 5.4% increase in interest rates by the close of 2014.  With anticipated increases in both prices and interest rates, sales volumes may remain stable and at balanced levels. 

Supply and demand are ultimately at the root of how expectancies and predictions are reached, playing a pivotal role in the 2014 real estate market forecast.  While the supply of home inventory could become heightened due to escalating property values, the demand will also be increased thanks to a somewhat strengthened economy.  Because of this anticipated surge in both home prices and interest rates, the market will likely remain at a steady level.

On the other hand, the new construction market is predicted to boom in 2014. With more financing for new development becoming available, the sales of newly built homes are expected to climb by a staggering 18.5% next year.  In addition to this surge in sales of new construction, a forecast for a projected 25% increase in new construction starts should help to boost the overall market.

Calculations derived by real estate associations or market economists are certainly worthy of attention.  However, it is imperative to understand that these are national predictions -- a blanket forecast gauging the general direction the market will take nationally.  Because real estate is local, it is important to take your area dynamics into consideration for insights closer to home.  Your area could potentially be better or worse. 

For a personalized forecast reflecting your community or neighborhood, please contact me today for additional information.  Regardless of whether you are looking to sell or buy in 2014, the forecast for the real estate market in 2014 appears promising!  Happy New Year to all!

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate market.

Photo courtesy of kicea06/deviantart.com

Good News and Opportunities for You

by Allyson Hoffman

There's more very good news for the housing market. The S&P Case-Shiller index, released this week, shows house prices rising 8.1% in January, the biggest increase since June 2006. A different government report shows a decline in sales in February from the previous month, but that's still up 12% over earlier levels. The U.S. Census Bureau reports that privately-owned housing starts in February were up 27.7% over the same time last year.  Experts suggest bad weather may be responsible for the slower growth in February, and the growth trend is expected to pick up pace during the rest of the year.

Much of the growth has been in markets that were particularly badly hit during the housing bubble. Phoenix, for example, saw a 23% increase.  San Francisco, Las Vegas, Detroit, Atlanta, Minneapolis, Los Angeles and Miami were also up more than 10%.  Chicago, in comparison, while definitely a showing positive trend, is not reporting such dramatically impressive numbers.

Related: How Much is Your Home Worth?

In the fallout of the housing bubble, seven million people lost their homes to foreclosure or in short sales.  Now, with an improving economy and job numbers, some of those families are back in the market. Veteran Administration backed loans can be obtained only two years after a foreclosure, and with the enormous benefit of having lower mortgage rates.  Extenuating circumstances like health issues, natural disasters or a layoff can reduce the wait time to three years for Fannie Mae and Freddie Mac.

Increasing employment numbers, low mortgage rates, fewer homes in foreclosure and a tight inventory of homes are all factors experts believe are behind the current boom.  In turn, the stronger housing market helps put more people to work. And it helps homeowners who owe more on their mortgages than their homes were worth.  As they regain equity, they'll also be able to refinance at lower rates.

This recovery is an exciting time for all homeowners.  And if it signals a time for a change for your family, let me show you how I can help sell your old home and find something wonderful and new.  Working together, we can identify the best options available to you.

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com


Get your latest Home Value
Receive Your Personalized Listing Alerts

Let’s Connect, Socially!

Facebook
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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas.  Visit my website for detailed information regarding today’s real estate markets.

This blog is maintained by Michael of Kim Hughes & Company.

Post Title

by Allyson Hoffman

Ah, the last day of the year. Time to celebrate and begin looking forward to good times in 2013. Some of you have been waiting for a good time to buy and/or sell a home. And many of the experts are cautiously optimistic that 2013 will be a better time for that than 2012 was. Let's take a look at what they're saying now:

Home Prices should continue to rise, although modestly. That should mean an increase in new construction. And more homeowners, who have been underwater on their mortgages, will be comfortable putting their home on the market. Rental prices are expected to continue to increase, making buying a home, in some markets, more attractive. Foreclosures are expected to decline, while short sales will increase. This means fewer foreclosure bargains will be available.
 
Getting a mortgage will continue to be more difficult than it was before the crash, but could get a bit easier as more qualified buyers enter the market and competition for their business heats up. And new mortgage rules to be announced in January by the Consumer Financial Protection Bureau may also have an impact on the availability of mortgage credit. Congress may try to cut the Mortgage Interest Deduction. That would make it more expensive to own a house and might reduce home values.
 
Mortgage rates are expected to rise. They've been at historic lows throughout 2012. Analysts at the Urban Land Institute and Barclay's see rates going up slowly over the course of the year, driven by improvements in the market.
 
What all this comes down to is that the very best time to buy or sell in the coming year is going to be difficult to determine. That's just one of the reasons you and I should talk about your plans for 2013. Working together, we can identify the market factors and your personal situation and come up with a plan.
 
For more information, these are the sources for this post:

This blog is maintained by Michael of Kim Hughes & Company.

Market to Continue Rebound in 2013

by Allyson Hoffman

While forecasting the economic future is still murky, there are signs of a growing rally in the housing market. Those conditions were the focus of discussions two weeks ago at the 2012 Realtors Conference and Expo in Orlando. Indicators such as housing starts, new home sales and existing home sales are all showing gains in contrast to the last four years.

And that means good news if you're selling or buying. Although, for buyers, there may be a limited window of time to act before the cost of borrowing for a house starts to go up. Lawrence Yun, the chief economist of the National Association of Realtors® believes costs will remain low through 2014, and prices to rise meaningfully over the next couple of years. "Today," he says in this report on Realtor.org, "is a perfect opportunity for moderate-income renters to become successful home owners."

And if you're still not sure, perhaps some of recent moves by billionaire Warren Buffet might peak your interest. Buffet, as reported by Businessweek, has been buying real-estate brokerages around the country and partnering with Brookfield Asset Management. The investments will be very profitable for Buffet and Brookfield if the housing market continues to improve. 

So what does this mean to you? Every market is unique, but in general, if you're looking to buy, you'll want to act as soon as you can, but you still have some time before we see any upward movement on interest rates. And if you'd like to put your house on the market, the time to make the best of the situation is coming. Ideally, you'd like to see the value of your home rise before it gets more expensive for buyers to borrow money. Whatever the case, I can help you stay ahead of the curve and maximize the value of your money.

This blog is maintained by Michael of Kim Hughes & Company.

Become a Better Borrower with Your Credit Score

by Allyson Hoffman

If you are ready to buy a North Shore home then you probably know that lenders look at your credit score to make a decision on if you can get a loan for your Northern Illinois dream home.  In today's tight lending market, this article from the Equifax experts can help you to get the loan you need.

Raise your credit score! There’s good reason to do so—a higher credit score can provide you a greater array of financial options and more favorable credit offers. And there’s always room for improving your creditworthiness by understanding your credit score, even if yours is good to begin with.

Keep in mind, however, that your credit score is based on your history of borrowing and repaying money, so there’s no way to instantly change it. But here are some effective strategies that can help to strengthen your creditworthiness over time.

Top ten strategies for improving your credit score

10. Learn what your current FICO credit score is and what appears on your credit report. You’re allowed one free credit report from each of the three credit reporting bureaus, accessible at AnnualCreditReport.com. When you pull your report, you can also pay a small fee to see your credit score. If you’ve used up your freebies for the year, Score Power can give you immediate access to your Equifax Credit Report, which includes your current FICO credit score.

9. Don’t open new credit cards that you don’t need just to increase your available credit. This approach could backfire and could lower your score.

8. Try to keep your total account balances as low as possible. High outstanding debt may negatively affect your score, as you have a greater chance of missing payments.

7. Check your report for inaccurate information and correct any mistakes. Incorrect information on your credit report is a warning sign for identity theft, which can be very damaging to your credit score. Check out more information for preventing and recovering from identity theft.

6. If your credit is severely damaged, or if you have a very short credit history, there are still ways to improve your creditworthiness over time. Consider opening new accounts responsibly and pay off debt on time.

5. If you fall behind on paying a bill because of illness, unemployment, or family issues, write a short explanation to the credit reporting agencies. They will add it to your credit report. It won’t improve your credit score directly, but creditors may take your personal statement into consideration when evaluating you. Also, call your creditor to explain the circumstances and, if possible, work out a payment schedule you can meet.

4. If you need help managing your credit, contact a reliable nonprofit credit counseling agency. Find an agency in your area through the National Foundation for Credit Counseling.

3. To minimize the number of inquiries on your credit report, don’t apply for multiple credit cards over a short period of time, and don’t apply for a card you’re not likely to get. Apply for new credit accounts only as needed.

2. Make all of your payments on time. If you are forced to miss a payment, be sure to pay it the following month along with the current payment. Past due accounts will be listed on your credit report. If you have missed payments, get current and stay current. As a general rule, the longer you pay your bills on time, the better your score.

And the number one strategy to improve your credit score…?

1. Continue to check your credit report regularly, charting your progress along the way. Everyone’s financial situation is different and all credit reports are different as well. Monitor your credit report for how certain activities affect your credit score. Keep an eye out for false information and identity theft. And watch and see how positive activities like on-time payments and a good mix of credit accounts will raise your credit score over time.

Are you ready to find your perfect home in the Chicago North Shore? Contact me today so I can help!

 

 

 

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Displaying blog entries 1-10 of 25

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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview IL 60025
847-310-5300
Fax: 847-400-0881

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1245 Waukegan Road
Glenview, IL, 60025

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