By all accounts, the forecast is very positive for the Chicago market in 2017. Today I'll explain why the experts predict this. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation What's going to happen in the Chicagoland real estate market in 2017? The forecast is good according to the Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors.  Why is the forecast so positive? Millennials are finally getting off the fence and starting to buy homes. We're seeing that trend become more and more evident. Personally, I've even started to see my millennial friends looking at homes and buying homes. “ Millennials are finally getting off the fence and starting to buy homes. ” The National Association of Realtors projects that we'll hit 6 million nationwide sales in 2017 compared to the 5.8 million homes that sold in 2016. Fannie Mae and Freddie Mac predict 6.2 million sales and the Mortgage Bankers Association project 6.5 million sales.  Personally, I think we're going to have a very hot year because of the millennials I see buying homes already. I'm sure it will continue throughout the year. If you're looking to buy or sell a home in our local market this year, don't hesitate to give me a call or send me an email soon. I'd be glad to help you.

To find a good deal when flipping homes, you need to know what a good deal looks like. The only way to do that is to spend time studying the homes on the market. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation We’re back to answer another one of your great questions today. Today’s question is, “Can you share your advice on how a person can break into the real estate flip market with just $5,000?” Most people think that money is the key to getting into the flipping business. Truthfully, it’s not. There are more important aspects. You need three things when you flip homes. The first is good deals, the second is money, and the third is the knowledge of how to rehab properties on a budget. Of those three things, finding good deals is the most important. The way to break into this market is finding a good deal. To be able to find these deals, though, you’ve got to know what you’re doing. I recommend spending a few hours each day going through and analyzing two properties for sale from top to bottom. If you do this each day, over time, you will start to realize what is a good deal and what is not. “ The way to break into this market is finding a good deal. ” A good deal is one that is 30% below market value minus rehab costs. If you can find a deal like that, you can call us and we will help set you up with an investor who will partner with you and even split the profits. So, start spending time analyzing deals to find the good ones. Once you do that, give us a call and we will help you get started. If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

If you are looking at using your equity in one home to buy another, there are a few things you need to know. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation As most of you know, I ask my viewers to send in questions for my video blog. This week, our question is, “Is it advisable to get a home equity line of credit on a condo to make a down payment on a single family home?”  This is a fantastic question, as there are few reasons I would or would not use my equity in this way.  Personally, I would only use my equity from one home as a down payment on another home if my mortgage balance is low. If I have a 70% to 75% loan-to-value mortgage, I will probably take another 5% to 10% off that home and buy another home to use it as a down payment. “ Rent needs to cover both mortgages, taxes, and insurance. ” However, once I do that, there is going to be a first and second mortgage. I would only go through with using my equity in this way if my rent would cover both mortgages, taxes, and insurance. If the rent is going to be less than those costs, I wouldn’t do it.  If you have any further questions, please feel free to reach out either by phone or email. I would be happy to help! 

I'm happy to report that 'Operation Turkey' was a huge success! We raised thousands of dollar and help out 150 families in need this Thanksgiving, thanks to our team of employees, friends, and family members. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation I couldn't be more pleased to tell you what a success 'Operation Turkey' was this year! On November 20th, thanks to the support and volunteer work of friends, family members, and clients, we were able to raise $6,800 and reach 150 families in need this Thanksgiving. Everybody chipped in to help prepare the Thanksgiving baskets and deliver them to some very deserving families. “ We couldn't have done it without your support! ” We at the Z Team couldn't have done it without your support, and we thank you from the bottom of our hearts. Thank you for being part of our team!

Should you buy a house in a flood zone? You'll have risks that a regular home doesn't have, but you could also get a fantastic deal. These are the major pros and cons of properties in a flood zone. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation Have you ever considered living in a home in a flood zone? Being in a flood zone means that a property has a high risk of flooding, and will probably flood more than once every 500 years, according to FEMA. These properties will need additional flood insurance, which usually runs about $2,000 to $3,000 for a $300,000 home.  Just because a property is in a flood zone doesn't mean it will flood next year, of course. There are many Chicagoland properties that are in flood zones. The good thing is, they sell at 230% less than properties not in a flood zone.  “ If you're comfortable buying a home in a flood zone, you can get a great deal. ” Personally, I would only buy a house in a flood zone if it didn't have a basement. I'd consider a home without a basement in a flood zone because, typically, you'll find that you can buy these homes for way less money and get a great deal. If you have any other questions about buying a home that's in a flood zone, give me a call or send me an email. I'd be happy to help you.

If you are looking to upsize but need to sell your current home, you have three main strategies to choose from. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation If you’re looking to upsize your home but you already have another one, what should you do? It really depends on your specific financial situation and how much you owe on your current mortgage. That said, you have three main options: 1. You can buy another home and sell your original house after you move. In this case, you would have to carry two mortgages for a few months while you wait for your original home to sell. I only recommend this option if you have a very low mortgage balance and a lot of equity in your home. “ Making a contingent offer saves you from paying two mortgages at once. ” 2. You can put your home on the market and submit a contingent offer. In this case, when you buy your new home, you would make the offer contingent on the sale of your current property. That way, you would close on both properties at the same time and you wouldn’t have to carry two mortgages. 3. You can turn your existing property into a rental property. If you are ready to be a landlord or invest in real estate, this is a great option, especially if you have a low mortgage balance and if the rental rate makes sense for your financial situation. If you would like to know more about each of these options, give me a call or send me an email. I would be happy to help you!

Located in a private neighborhood, 24650 Park River Lane is a custom-built home in Shorewood, IL. We’ll go over everything this amazing property has to offer today. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation Today we have a beautiful listing to show you. Located at 24650 Park River Lane in Shorewood, IL, this home is a beautiful, 4-bed, 4.5-bath home with over 7,000 square feet. This remarkable home is in a private neighborhood. The stone-paved driveway and fountain welcome you to this estate. When you stand in the foyer, you will be amazed by the luxury and design of this house. A backyard patio with retractable screens will make you feel right at home. The patio is complete with an eating area and outdoor grill. You can also entertain guests in the oversized loft on the second level or in the family room, which is fully equipped with a wet bar and wine fridge. “ This custom-built home will take your breath away. ” You can prepare meals in this gourmet kitchen with top-of-the-line appliances, granite countertops, a breakfast bar, islands, and a five-burner stovetop. This home has a room for everyone: formal dining room, casual dining room, study, formal living room, and two large family rooms. The master suite features heated floors, a Whirlpool tub, and a huge walk-in shower. This custom-built home will take your breath away. It is truly one of a kind. Give us a call or send us an email if you are interested in seeing this property— it could be your dream home today!

If you have a smaller home, how can you make it appear more spacious to buyers? There are five simple things you can do. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation One of our viewers recently sent in a question that I thought I would answer today. They said, “Our house is pretty small; how can we enhance the size of the house when we sell it?”  There are a few things you can do to make a small home seem larger:  1. Add a few mirrors to your house. Install large mirrors in the bathroom or above the fireplace in the living room. Mirrors will definitely make your home appear larger.  2. Go lean and sleek with furniture. Don’t choose big, bulky pieces. You should have small furniture with sleek designs so the room doesn’t look overcrowded. 3. Hang your curtains higher. Instead of placing the curtain rod just above the window frame, move it up so that it sits just below the ceiling. Doing so will make rooms appear taller and more spacious. “ Declutter your home so the rooms don’t look overcrowded. ” 4. Declutter your house. Make sure everything is in its proper place. If you don’t need something anymore, give it away or throw it away. You can also put certain things you don’t need in storage.  5. Consider built-in furniture. Built-in shelving requires much less space than bulky bookcases. Built-ins give you more space visually in the house.  If you have a smaller house, these five tips are great ways to make your home appear more spacious. If you have any other questions about preparing your home for the market or about real estate in general, give me a call or send me an email. I would be happy to help you!

A lot of people have been asking about the impact “Brexit” is having on the Chicagoland market. While we have fewer foreign investors, interest rates have dropped. Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation We are excited to answer a question that we have been getting asked quite a lot lately. With the U.K.’s recent decision to leave the E.U., a lot of people have been wondering, “How will the Brexit affect the real estate market in Chicagoland?” First of all, we are going to have less international buyer activity. Our currency is becoming more expensive than the euro, so real estate is becoming more expensive too. Luckily, we have never had a large market of international buyers in Chicagoland anyway, so we won’t be affected by it as much as cities like New York, San Francisco, and Miami will be. “ Brexit is bringing us even lower interest rates. ” On a positive note, it does seem like the Brexit is bringing very low interest rates to the U.S., which is great news. What’s happening is that many international investors are pulling money back from European markets and putting them back into mortgage bonds in the U.S. This creates more demand, which lowers interest rates for us. I also think the Fed will put a hold on their plan to increase mortgage interest rates going forward, which is good for the market. If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

Buying a Chicago home? Get a full home searchSelling your Chicago home? Get a free Home Price Evaluation To see how the Chicagoland real estate market performed this last August, we can compare some of its statistics to August of last year.   The numbers from August 2015: The average sales price was $262,466. There were 119,741 closed sales.The average days on market was 96 days. “ The Chicago real estate market has improved in the last 12 months. ” The numbers from August 2016: The average sales price was $272,709. There were 122,667 closed sales. The average days on market was 92 days. Looking into this retrospective data comparison, I can tell you that the Chicago real estate market has improved in the past 12 months. If you have any specific questions, please give me a call or send me an email. I’d be more than happy to help you in any way I can.