KM Realty Group LLC Chicago

Wondering what the  second half of the year  holds for the housing market? Here’s what expert forecasts say. Home prices are expected to climb moderately.  Mortgage rates  are forecast to come down slightly. And home sales are projected to hold steady. If you have questions about what to expect for the rest of the year, let’s connect so we can have a conversation about what it means for you and your plans.

When you decide to buy your  first home , you may come across several terms and conditions you’re not familiar with. While you may have a general idea of an inspection, maybe you’re not sure why you need one or how it differs from an appraisal. To keep it simple, here’s an explainer of each one and what they mean for you as a homebuyer. Home Inspection Once you’re under contract on a home you’d like to   buy , getting an inspection is a key part of the process. An inspection gives you a clear idea of the safety and overall condition of the home — which is important for such a  big transaction . As a recent  Realtor.com  article explains: “a home inspection is something that protects your financial interest in what will likely be the largest purchase you make in your life — one in which you need as much information as possible.” If anything is questionable in the inspection process — like the roof’s age, the HVAC system’s state, or just about anything else — you ...

Should you buy a home now, or should you wait? That’s a big question on many people’s minds today. And while what timing is right for you will depend on many other personal factors, here’s something you may not have considered. If you can buy at today’s rates and prices, it may be better to focus on time in the market rather than timing the market. The Downside of Trying To Time the Market Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will decrease. And while experts agree that’s still what’s ahead, shifts in various market and economic factors have pushed back the timing of when that’ll happen. Here’s how that’s impacted homebuyers sitting on the sidelines. As  U.S. News  says: “those who put off buying a home during the past few years as they were holding out for lower mortgage rates have been left out of the market . . . mortgage rates have stayed higher fo...

You want your house to sell fast. And you may be wondering how long the whole process will take. One way to get your answer? Work with a local real estate agent. They have the expertise to tell you how quickly homes are selling in your area and what’s impacting timelines for other sellers. That way, you have realistic expectations and can work together to develop a plan based on today’s market. Here’s a high-level overview of just one of the factors a great agent will walk you through — the supply of homes for sale and how that impacts your process. The Growing Supply of Homes for Sale Over the past few months, the number of homes for sale has increased. This is good news when you move because it means you’ll have more options as you search for your next home. But it also means buyers have more to choose from, so if your house doesn’t stand out - it may take longer to sell. Available inventory comprises new listings (homes just put up for sale) and active listings (homes already on the...

  As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales. Home Prices Are Expected To Climb Moderately Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry: The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the  National Association of Realtors  (NAR),  explains : “one thing that seems to be pretty solid is that home prices are going to continue to go up, and the reason is that we don’t have housing inventory.” While inventory is up compared to the last couple of years, it’s still low overall. And because there still aren’t enough homes to go around, that’ll keep upward pressure on prices. If you’re thinking of buying, the good news is you won’t have to deal with prices skyrocketing like they did during the pandemic. Just remember, ...

Have you ever wondered, “How much is my house worth in Chicago?” Understanding the value of your home in the Windy City is more than just a matter of curiosity. It’s essential for various reasons, whether you’re considering selling, refinancing, or evaluating your property investment.   Discover  how much your house is worth in Chicago  and why it matters. Why It’s Important to Know Your Home Value Make Informed Selling Decisions : Knowing your home’s worth helps set the right price. Refinance With Confidence : Evaluate your options better with a clear home value. Understand Market Trends : See where your home stands in the current market landscape. Who Should Find Out Their Home’s Worth? Anyone owning property in Chicago, from long-term residents to recent investors. When to Determine Your Home’s Value? Regularly, but especially before listing for sale or considering a mortgage refinance. How Much Is My House Worth? Calculating your home’s worth involves considering rece...

● Considering selling your house without an agent? You should know some serious   downsides   to handling it on your own. ● You’ll miss out on marketing tools that draw in more buyers, pricing and market expertise, essential negotiation skills, in-depth knowledge of the fine print in contracts, and so much more. ● Don’t take on all of this responsibility. Instead, let’s connect so you have someone with the knowledge and experience you’ll need.

Are you thinking of buying or selling a property in Chicago, Illinois? Should you use a  realtor in Chicago ? Understanding why using a professional real estate agent is crucial can make all the difference. Let’s dive into the title: Why use a realtor in Chicago, Illinois? Here are five key benefits that will make your decision easier. Professional Experience and Expertise Realtors bring a wealth of knowledge and expertise to the table. They understand the local market trends and can provide valuable insights. A realtor in Chicago knows the nuances of different neighborhoods, from commercial to residential areas. This knowledge is vital for making informed decisions. Market Analysis and Pricing Strategies Determining the right price for a property can be challenging. Realtors can access up-to-date market data, helping set accurate prices whether you’re buying or selling. This ensures you get the best deal possible. Negotiation Skills Negotiations are a critical aspect of real estat...

Summer is officially here, so it’s the perfect time to start planning where you want to vacation and unwind this season. If you’re excited about getting away and having some fun in the sun, it might make sense to consider if  owning your own vacation home   is right for you. An  Ameriprise Financial  survey sheds light on why people buy a second, or vacation, home ( see below ): Vacation destination or a place to get away from the stresses of everyday life (81%) — Having a second home to use as a vacation spot can be a special place where you relax and take a break from your daily routines and stressors. It also means you  won’t have to worry  about finding somewhere to stay when you go there. Better weather (49%) — Buying in a place where there may be nicer weather can be a great escape, especially if it’s cold or rainy where you usually live. It lets you enjoy sunny days and warm temperatures, even when it’s not so nice back home. Rental income (41%) — Wh...