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First Time Home Buyer Assistance Programs

by Allyson Hoffman

 

Buying a home is a big a decision and for a first time home buyer it can be an overwhelming and complex process. A number of first time home buyers may need a little extra help in reaching their goal of buying a first home and there are a number of organizations available in the greater Chicago area that might be able to help.

Listed below are a few places to look for help in the decision making process as well as financial assistance.

Chicago City Mortgage Program

Oak Park: Home Buyers Assistance

IDHA First Time Home Buyer Program

HUD - Cities that offer home buying assistance programs

HUD - Public Houseing Vouchers for Homeownership

As with any program there will be certain qualifications that you will have to meet and the application process will include the following steps:

1. Pre-approval

2. Loan Application (see How to Prepare for Your Mortgage Lender for more information)

3. Loan Processing

4. Closing

For more information regarding first time home buyer assistance programs visit the websites listed above or visit the Greater Chicago Housing and Community Development Website for a listing of additional programs.

Image courtesy of www.gotcredit.com/Flickr.com

Is It A Buyers Market? How To Know When To Buy

by Allyson Hoffman

As we sit on the edge of our seats to see which way the real estate market will turn next, there are a number of people waiting for the market to hit bottom before they decide to buy. How do you know when is the right time?

Blanche Evans, columninst for Realty Times has outlined a number of indicators to watch for if your are thinking about buying. Keep an eye on your local market and watch for these signs.

  • Inventories Start to Decline
  • The Days on Market Reduce
  • Mortgage Applications Increase
  • Sold Homes Go For Closer to List Price
  • Prices Remain Firm or Rise
  • Incentives Disappear

Some of these factors may already be happening in your area, so don't wait. If you were planning to buy and you were just waiting to see where the market would go, the time may be now. To read the full article, or watch the video, titled Realty Viewpoint: Six Signs It's Time For Home Buyers To Buy by Blance Evans click here.

Image courtesy of one2c900d/Flickr.com

Search for the Right Real Estate Agent

by Allyson Hoffman

Selling your home can be overwhelming and that is why finding the right real estate agent is key.

It is important that you are comfortable with your agent and know that the agents efforts are going to be right for you. There are a number of things to look for, and questions to ask, to determine which agent will be the best match for you. Use the checklist below to get you started in your real estate agent search.


  • How long have you been in real estate?
  • Have you recently sold any homes in my area?
  • What education designations have you obtained?
  • What is your average market time vs. the market?
  • What is your list price to sales price ration vs. the market?
  • How will you market my property?
  • How do you market to the public?
  • Do you market to other agents and if so, how?
  • May I see sample of your marketing pieces and brochures?
  • Do you provide a written report to your sellers?
  • Do you have an assistant to help with details?
  • Do you have a resume or personal brochure to review?
  • Do you have defined plan of action for the marketing of my home?
  • If I list my home, when would the marketing begin? 

Choosing the right Realtor® is a big decision. It could save or make you a lot of money. I work hard to accomplish your real estate goals and would be happy to answer any questions you may have. Feel free to Contact Me at your convenience.

Image courtesy of thegoldguys.blogspot.com/Flickr.com

Home Appraisers; What You Should Know

by Allyson Hoffman

Home appraisers are a necessary part of your real estate transaction and it is important to know exactly what the appraiser's responsibilities are, and to whom.

I think the most common misconception about appraisers is that they work for the home seller. Appraisers are hired to be impartial and provide an accurate "value" to your home in order for lenders to determine if the collateral supports the debt. These same lenders are also putting a lot of pressure on appraisers which result in higher than market value home appraisals.

You can read more about it in the article Please don't hit the appraiser.

Image courtesy of Sherwood CC/Flickr.com

Heads Up To Waterfront Lovers & Boating Enthusiasts!

by Allyson Hoffman

Mundelein's 150-acre Diamond Lake will be the setting for sixteen new luxury condominiums featuring lakefront settings and private boat slips included with each unit.  For those looking to combine a resort lifestyle with their brand new home, four plans featuring two or three bedrooms and up to three full baths can be customized to taste.  Quality finishes are included and pre-construction building incentives are now in place.  Prices will range from $494,900 to $594,900.  Watch for a grand opening around the middle of May, but in the meantime if you would like information now, details can be obtained on the website at www.DiamondCove-LuxuryCondominiums.com

Image courtesy of Virginia State Parks/Flickr.com

Displaying blog entries 191-195 of 195

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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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Allyson Hoffman
RE/MAX Villager
1245 Waukegan Road
Glenview, IL, 60025

(847) 310-5300
[email protected]

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