WHAT YOU NEED TO APPLY FOR A LOAN
March 30, 2022
If you are applying for a fixed rate mortgage or an adjustable rate mortgageyou will need the following items: Two recent year W-2sTwo recent year tax returnsOne month of recent pay stubs (if applicable)Two months of recent bank statementsSigned pyurcase contract (if available)Additional documentation upon request ...
Moving With Pets
March 25, 2022
Moving With Pets...
21 Reasons for Title Insurance
March 25, 2022
There are many misconceptions about title insurance amongst Buyers and Sellers, and some really do not understand the importance of it and why it is needed. I came across this article and found it quite helpful and wanted to share, Courtesy of Fidelity National Title, the 21 Reasons for Title Insurance.1. A fire destroys only the house ...
Rising prices
March 24, 2022
Single-family home prices and sales figures soared to historic heights in the region to start the new year despite steadily rising interest rates.While the local real estate market is vibrant, inventory remains low and consumer budgets are being impacted by inflation, according to Rockford Area Realtors. The three-month rolling average price of a property in Winnebago, Boone ...
Benefiting from Homeownership
March 22, 2022
The pandemic, and the life changes that it brought with it, have taught us the value of homeownership. Not only does owning a home give us a sense a stability, but it gives us a sense of accomplishment. if you are thinking about buying a home, it's important to consider these other benefits as well.There ...
Market in a Minute
March 18, 2022
https://sites.academymortgage.com/landingpage/?domain=sites.academymortgage.com&slug=markettracker&userId=96qIP ...
How does a property become a HUD REO
March 18, 2022
HUD foreclosed properties are the result of FHA mortgages that have failed. FHA guaranteed loans is lending program that insures lenders (insurance program) that if they provide funding a loan under FHA guidelines and the buyer’s default, HUD will pay the lender most expenses and debt on the property that failed. The lender is under the ...
2022 FORECLOSURES
March 18, 2022
Foreclosures Will Likely IncreaseA recent report from ATTOM Data Solutions states that the current market won’t have to wait long to see an upswing in foreclosure activity since the moratorium on foreclosures was lifted in July 2021. Default notices, bank repossessions, and scheduled auctions spiked by 34% in the third quarter of 2021 and were 67% higher than ...
Rent Prices Continue to Surge Nationwide-Buy Now
March 17, 2022
https://www.roomvu.com/agent/richard-stewart?video=rent-continues-nationwide&share=true...
HUD ANNOUNCES $2.6 BILLION IN AWARDS TO HELP PEOPLE EXPERIENCING HOMELESSNESS
March 17, 2022
HUD No. 22-040HUD Public Affairs(202) 708-0685FOR RELEASEMondayMarch 14, 2022 HUD ANNOUNCES $2.6 BILLION IN AWARDS TO HELP PEOPLE EXPERIENCING HOMELESSNESSThe awards include approximately 7,000 renewed and new grants that will promote a community-wide commitment to the goal of ending homelessness.WASHINGTON, D.C. - The U.S. Department of Housing and Urban Development (HUD) today announced over ...
Don't Let Inflation 'Inflate' Your Idea of Your Home's Value
March 15, 2022
Many financial minds and experts have much to say about inflation and it's effect on real estate. It would certainly make sense that if the price of everything else is going up, why wouldn't one's most precious asset-their home-also go up in price (if they're selling) and perhaps value as well? The answer ...
The Chicago real estate market: Stats and trends for 2022
March 15, 2022
The Chicago real estate market is hotter than ever, with prices skyrocketing due to inventory shortages and the high cost of new construction. As The Real Deal reports, even buyers with medium-incomes often lose in bidding wars in less expensive areas like Garfield Park and Humboldt Park, and are more likely to stay in rentals.Inventory is down to ...
New First Time Homebuyer Savings Program for Michigan
March 15, 2022
Michigan Realtors and Legislatures have been working on a program to help Michigan residence purchase homes in the state by introducing a tax deferred savings program, for a long time.This new law just signed by Governor Whitmer creates a tax-free savings account for a first-time home purchase in Michigan. This tool will help retain talent and grow our ...
Spring Home Maintenance Tips!
March 15, 2022
As we head into Spring and the sun starts shinning longer and the ground starts to thaw, I’ve prepared tips to make sure your home is ready!Look at your roof shingles – Ensure you don’t have any missing or loose shingles. Any that are cracked or buckled need to be replaced. Make sure to ...
Paint Color Trends on Radar for 2022
March 15, 2022
The new year is the perfect time to consider a home refresh. But if a gut renovation isn't part of your plans, giving your space a new look with a fresh coat of paint is the next best thing. Cover all four walls with calming blues or neutrals, or go for an arresting accent color — think ...
Investor Series – What is BRRRR?
March 15, 2022
Its cold out there campers!! This is a continuing series about investor terms in Real Estate and what they mean. BRRRR is a common concept in the investor tool box when it comes to Real Estate. Besides something you might say when its cold out, it’s actually an acronym for something very different. ...
Working with senior Clients
March 15, 2022
Have you stopped to think how a senior client may need a different approach that is not rushed and special awareness to listen for areas that need reassuring and understanding. Listing a home for these clients can be very rewarding.A great way to start out with the special client, how would I want my grandparents treated?Health issues ...
Looks like we will see some new colors in 2022
March 15, 2022
These Are the 2022 Decor Trends Designers Are Most Excited AboutBy: MARISA DONNELLY, Published on 11/17/21On the other hand, there's still room for color. “[In] 2022 [it] is all about greens and pinks—in a way you’ve never seen them before. Think [deeper], jewel-toned greens and rooted, terracotta pinks,” says M+A Architects Interior Designer ...
How will increasing interest rates impact the housing market?
March 15, 2022
How will increasing interest rates impact the housing market?In the past this was a easy question to answer – when interest rates go up, it costs more to purchase a home, the demand drops, price appreciation slows and home stay on the market longer. This year, the numbers are not that straightforward. The market has been hot, homes ...
What are the risks of waiving a home inspection?
March 15, 2022
What are the risks of waiving a home inspection?A home inspection is a standard part of the homebuying process. After a buyer’s offer is accepted, the buyer hires a licensed professional who checks the wiring, flushes the toilets, peers into the attic and tests the heating and air conditioning systems.In a buyer’s market or a ...
Purchasing a HUD Home
March 15, 2022
Are you looking at purchasing a HUD Home. When purchasing a HUD Home you may find that these homes are in need of TLC. It is important as a Buyer that the HUD Registered Real Estate Agent you work with provides you all of the information they can regarding the home. To be safe, always have a ...
Buying a New Home: The First Steps
March 15, 2022
When you're thinking about buying a new home, the first steps in the process are usually are: Finding a neighborhood that's right for you. Considering how much money you would like to spend.Thinking about what type of home you would like. Deciding when you want to make your move. As a ...
Don't Overlook Home Safety Checks
March 14, 2022
Home safety checks should not be overlooked. With the season changing it is a good time to run a safety check in your home.Smoke detectors and carbon monoxide detecters are a good place to start. Not only check your batteries but clean the detectors off. Built up dust can affect the way they work.If you ...
Your Home Can Help Make Your Money Go Further
March 14, 2022
Inflation has generated a lot of attention lately as the prices ofgoods and services have risen faster than they normally do.Housing can be one way to hedge against inflation, helpingreduce the impact it has on your purchasing power.If you buy, a fixed-rate mortgage means your monthly principaland interest payment won’t keep going up like rent will....
Case Study: Property Management
March 14, 2022
Client: Local Community BankThe ChallengeA lender took back a 2-flat property through deed-in-lieu of foreclosure that was occupied by section 8 tenants. The rents were in abatement with the Chicago Housing Authority due to failed property inspections.The SolutionParkvue Realty stepped in as the interim property manager and was able to transfer the property under our management with ...
