KM Realty Group LLC Chicago

Infographic by KM Realty Group LLC, Chicago, Illinois How To Avoid Today’s Top Seller Mistakes Want to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too? The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate. And the best way to avoid falling into any of these traps is to partner with a trusted  real estate agent  who knows exactly what to do. Let’s connect so you have someone to lean on for advice.

If you’ve been keeping an eye on the   housing market   over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know. What Is a Balanced Market? A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced market would be a welcome sight for people looking to move. The question is — is that really where the market is headed? After starting the year with a three-month supply of homes nationally, inventory has increased to four months. That may not sound like a lot, but it means the market is getting closer to balanced — even though it’s not quite there yet. It’s important to note thi...

Looking ahead to 2025, it’s important to know what experts are projecting for the housing market. And whether you’re thinking of  buying   or  selling  a home next year, having a clear picture of what they’re calling for can help you make the best possible decision for your homeownership plans. Here’s an early look at the most recent projections on mortgage rates, home sales, and prices for 2025. Mortgage Rates Are Projected To Come Down Slightly Mortgage rates play a significant role in the housing market. The forecasts for 2025 from  Fannie Mae , the  Mortgage Bankers Association  (MBA), the  National Association of Realtors  (NAR), and  Wells Fargo  show an expected gradual decline in mortgage rates over the course of the next year ( see chart below ): Mortgage Rates Projected Mortgage rates are projected to come down because continued easing of inflation and a slight rise in unemployment rates are key signs of a strong but slowi...

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering  buying   or  selling   a home this year, you’re probably curious about what the election might mean for the housing market — and if it’s still a good time to make your move. Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering, so you don’t have to pause your plans in the meantime. Here’s a look at decades of data that shows exactly what’s happened to home sales, prices, and  mortgage rates  in previous Presidential election cycles, so you can move forward with the facts as you weigh the pros and cons of your homeownership decision. Home Sales In the month leading up to a Presidentia...

You won’t find anyone who’s going to argue that  mortgage rates  have had a big impact on  housing affordability  over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the   lowest point  we’ve seen in 2024,  according  to  Freddie Mac  ( see graph below ): mortgage rate are declining And if you’re thinking about  buying a home , that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect. Expert Projections for Mortgage Rates Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there. What you need to remember is it’s not wise to let those blips distract you from the larger trend. Rates are still down roughly a   full percentage point ...