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December 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The December 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.

November 2017 Midwest Real Estate Market Reports

by Allyson Hoffman

The November 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.

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

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.

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!

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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
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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!

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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.

Displaying blog entries 1-10 of 27

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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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Allyson@Allyson.com

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