Chicago Real Estate Podcast with Jennifer Niederbrach

Home renters believe that they need more money than necessary to buy a home. According to an National Association of Realtors profile of homebuyers and sellers, 87% of all homebuyers think they need 10% down or more to buy a home. However, the same report shows that the median down payment is only 6% in the last three years.

Those with VA loans don’t need to put any money down. FHA buyers only need to put down 3.5%. There are many different options available if you’re a renter who thinks homeownership might be financially out of reach. 

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Buying a home is less expensive than you think.

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If you’re thinking about buying a home anytime soon, focusing on your debt level and managing your credit score is of the utmost importance. If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

Are you thinking about buying a home in 2018? If so, I’ve got seven important tips for you to follow:

1. Check your credit score. The higher your score, the lower the interest rate you can get.

2. Don’t open any new credit cards or other lines of credit.

3. Suggest financial gifts from relatives during the holidays to use toward your down payment.

4. Interview potential real estate agents before hiring one.

5. Keep tabs on interest rates. They are constantly fluctuating.

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Interest rates are constantly fluctuating.

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We are all about setting our homebuyers up for success. If you have any questions for us about any of these tips or you need help getting started, we would be glad to offer assistance. Just give us a call or send us an email today. We look forward to hearing from you soon.

Whether you’re rightsizing into a smaller property or rightsizing into a larger one, there are a couple things you should know about this process to make the transition a successful one.

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If you’re thinking about rightsizing, now is the time to do so.

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You may be rightsizing into a larger home because you’ve reached the point where the space in your current property is too small for your family and you need extra bedrooms or bathrooms. You may be rightsizing into a smaller home (or condo or townhome) because you want something more manageable and your current property is too big for you.

In either case, a key factor of rightsizing is finding the right location for your next property, whether that means moving closer to work, family, etc.

If you’re thinking about rightsizing, now is the time to do so. Home values are still good whether you’re a buyer or seller, and interest rates are great as well.

If you have any questions about rightsizing or you’re otherwise thinking about buying or selling a home, don’t hesitate to contact us. We’d love to help you.

Multiple offer situations can be stressful. Here’s how to deal with them as either a buyer or a seller. Selling your Naperville home? Get a free home value reportBuying a Naperville home? Search all homes for sale We’re taking a closer look at multiple offers today from both the buyer’s and seller’s perspective. We’ve seen an increase in multiple offers in the last few months, and we want you to know how to deal with them in case your agent doesn’t. For buyers, your agent should be able to help guide you throughout the process. The No.1 thing we focus on with our clients that are involved in multiple offer situations is playing to win. If we play to win, it helps pull us closer to getting a deal done. That’s what we’re here for, after all. If you find a house you love, we want to make sure we do everything in our power to secure it for you. When trying to craft an acceptable offer in this situation, price isn’t the only thing we look at. Of course, you need to offer a fair price in order to win. However, it’s not the only thing that buyers care about. We also pay close attention to things like inspection and finance contingencies, as well as the length of the due diligence period and the closing date. The more we can craft our offer to appeal to the seller, the better. “ We’ll do whatever we can to help you succeed. ”If you’re a seller in a multiple offer situation, you’re in a pretty good spot. However, you still need to prepare your home properly for showings. We can help do that by having a garage sale that will bring in money and reduce clutter greatly. It will give you a little extra cash outside of the transaction. If you choose to hire us to help you buy or sell a home, rest assured that we’re going to do whatever we can to help you win the deal. It’s our job to help you get the most money possible for your home if you’re selling, especially in a seller’s market like this. If you’re a buyer, we can help you craft an offer that will stand out among the crowd. If you have any questions for us or need any help buying or selling real estate, give us a call or send us an email. We would love to hear from you.

What can you learn about real estate from financial hardship? There are five lessons, in particular. Selling your Naperville home? Get a free home value reportBuying a Naperville home? Search all homes for sale There are five important real estate lessons people have learned from financial mistakes that you need to know: 1. Your home is not always an investment. It’s true that a lot of people have made money over the years, buying and selling real estate. However, if you’re not planning on staying in your home for at least three to five years or you’re in a situation where you’ll have to move within a short period of time, there’s always a possibility you might not recover the funds you’ve put into your home. If you plan on purchasing a property, it’s important you take into consideration how long you plan on staying there. 2. Every homeowner needs an emergency fund. We can’t stress enough how important this is when you first buy a home. There are so many things that come into play that you may not account for during your first home purchase. Having a little something extra in the piggy bank is always a good idea. 3. Beware of risky mortgages. We don’t want you to overextend yourself. One of the most important lessons we’ve learned in the last couple years is to buy within your means. If you’re taking care of a housing expense, you want that expense to be within your budget and not so far that you can’t handle any more that come your way. 4. Buy what you’re comfortable with. If you don’t want to stretch yourself out or meet the cap your lender will approve you for, buy something you’re comfortable with. This is your home, after all. 5. Homeownership isn’t for everyone. Some people need the flexibility of going from place to place. Those kinds of people might be better off living in a condo or townhome so they don’t have to deal with exterior maintenance. Different properties have different needs, characteristics, and levels of care. If you have any questions or you’re thinking of buying or selling a home, please feel free to give us a call. We’d be glad to help.

House hunting is one of the best parts of my job. Here’s how I help buyers find their dream homes. Selling your Naperville home? Get a free home value reportBuying a Naperville home? Search all homes for sale One of the most exciting parts of my job is house hunting. I love helping buyers find their perfect fit, whatever it takes. If you’re thinking about beginning a home search soon, here are some things you should keep in mind. First, you need to figure out what area you want to buy your new home in. A lot of people's happiness is directly proportional to how close they are to the places that are important to them, like a church, an office, or a school. Travel time is an important factor to consider. The more convenient we can make the location, the happier you are going to be with your house. Another thing that’s really important to keep in mind is the home’s structure. Although it may look super pretty on the outside, you need to know that all the major systems in the house work properly before proceeding. “ You need to be sure the home is functioning properly. ”The last tip I have is to buy a home that makes you feel fabulous. This is a place where you are likely going to live for a number of years, so you want it to be a home that you can love. We are confident that we will help any buyer who works with us find the right house in the right location for the right price. If you have any questions for me, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Today I want to go over five important lessons learned from financial mistakes made during the last housing crisis. Selling your Naperville home? Get a free home value reportBuying a Naperville home? Search all homes for sale During the last housing crisis, we learned a few lessons about financial mistakes. I’ll go over five of the most important ones today. 1. Your home is not always an investment. It’s true that a lot of people have made a lot of money in real estate over the years, and in the long run, a lot of a family's financial assets are tied up in their home. However, if you’re not planning on staying in a home for three to five years, if you’re in a situation where you pay top dollar for a home in the neighborhood, or if you’re not willing to put forth time, energy, and effort to spruce up an area of the home that needs work, owning a home for a short period of time isn’t necessarily going to give you the return on your investment that you’re hoping for. 2. Every homeowner should have an emergency fund. The real estate market gives and takes away, the economy give and takes away, and jobs come and go. Having an emergency fund will help make sure your family has what it needs to survive. “ Owning a home for a short period of time might not get you the return you want. ”3. Beware of risky mortgages. There are good, quality lenders out there, but there are also lenders who will try to stretch your limits and talk you into a financing program that isn’t in your best interest. Take a look at your finances and make sure that whatever you buy is financially comfortable for you and your family. 4. Buy what you’re comfortable with. Buying what you are comfortable with is not always the same as buying the most you can afford. It’s important to be able to have a life beyond your mortgage payment, so consider scaling back. Think about what you really need in a home versus what you really want. 5. Homeownership isn’t for everyone. Some people know they’re not going to be in the same place for an extended period of time. There are a lot of creative options available to people who need housing but won’t necessarily benefit from buying. If you have any further questions about this topic or if you have any other questions about real estate, please give me a call or send me an email. I look forward to hearing from you!