Today we’ll be sharing a Chicago real estate forecast for 2020. It’s incredible that 2019 is over and 2020 is here. 

In 2020, I believe the Chicago real estate market will be fairly solid; it’s not going to go too high or too low, at most sales prices may decrease by around 1%. Many sales will happen, a lot of development, numerous people buying, many people selling. Inventory may go up, so buyers might have more from which to choose.

The mortgage rates will be great, we don’t expect them to go up in 2020. We were fortunate enough to have three Fed cuts throughout 2019, which helped mortgage rates and real estate sales overall. It should be a relatively stable environment in 2020, similar to 2019. That’s wonderful news for both buyers and sellers. 

If you need a real estate broker or have any questions, please reach out to me by phone or email. Also, if you have any loan or refinancing needs you can reach out to David Bowen at (708) 705-7911. Happy New Year!

Located at 13th and Michigan in the South Loop near Museum Park, this 1,400 square-foot, 2-bedroom, 2-bathroom condo unit also comes with a den, which has its own closet as well. As you can see in the video above, it’s a loft-style condo that was totally remodeled in 2018. The bathroom and kitchen are brand-new—the kitchen comes complete with quartz countertops. You’ll find a number of closets throughout the property, even in the master bedroom. It also has an in-unit washer/dryer.

As for the building, you can take advantage of a workout facility, a package room, and for a fee, premier first-floor parking; you’ll be able to just go to your car and drive right out of the garage.

As for the asking price, you’ll have to reach out to me to find out! I will say that, at the moment, the property is under $450,000, and according to David, you could actually put 3% down on a conventional loan on this unit without a problem. The building’s association is strong, so you shouldn’t find any repair issues!

For more information about this unit’s prices, fees, and amenities, don’t hesitate to reach out to me at (312) 802-6204 or visit www.VergisEiland.com. For information about financing the unit, reach out to David Bowen at (708) 705-7911 or visit www.DavidRBowen.com.

It is the end of 2019, and we just want to say THANK YOU so much for your loyalty, business, and support. We appreciate the referrals you’ve given us throughout the year; they help us support our families. If you have any real estate needs or you know someone who wants to sell their home before the end of the year, call or email us immediately. Also, call us immediately if you want to sell, purchase or refinance a home in the new year. The current interest rates are excellent and we expect them to remain relatively low going into 2020. Happy holidays and Happy New Year from us!

Located on the northwest side of Chicago, about 6.5 miles away from Downtown, Logan Square is a fantastic area characterized by prominent boulevards, large-scale bungalows, and great restaurants. Because of these, and many other fantastic amenities, Logan Square is a great alternative to more expensive areas, such as Lincoln Park and the North Shore. And, in addition to the many entertainment opportunities Logan Square has to offer, the area also boasts a number of churches, schools, and parks. I’d be happy to speak with you more about this wonderful, family-friendly area if you’d like to find out what else it has to offer. As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon. 

Allow me to introduce you to a great new listing in Logan Square: 1828 N. Monticello. This newly rehabbed 4-bed, 3-bath home is the perfect blend of aesthetics and function. With beautiful shaker cabinets and stainless steel appliances in the kitchen and hardwood floors throughout, this listing is sure to impress. It also boasts plenty of space, as evidenced by the home’s 2.5-car garage, and is nestled in a great neighborhood. Truly, this house could be your dream home. As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Today we'd like to share with you our 2019 forecast for both the real estate and mortgage markets. In the coming year, the average sale price will likely rise by 1% at most. This is typical of a normal market.

In the mortgage world, things are a little different. In the fourth quarter, rates jumped up a bit, but they’ve gone down since. The Fed recently came out and said that they’d be more conscientious when raising rates in the future.Though rates may go up slightly this year, they should remain at an affordable level for the time being.

While inventory is going to go up, interest rates are staying flat. This equals a great opportunity for homebuyers. 

If you have any questions for us about our market forecast, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.

We’re coming to you today from a new listing here in the Lakeview Community located at 904 West Fletcher Street. This beautiful 4-bedroom, 4-bathroom duplex has 2,400 square feet of space. The garage has a heated parking space, and the surround-sound system is updated throughout the property.

Built in 2005, this property is located approximately 10 minutes from Lincoln Park Zoo, Wrigley Field, Target, Walgreens, and Vic Theatre, and is 15 minutes away from downtown.

In this neighborhood, you’ll need the jumbo loan product—in most cases, but not all. For this particular property, you can get in at 5% down all the way up to $1.5 million. Unconventionally, loanDepot offers a 30-year fixed rate; most of the time, loans for this type of property are the 5-year adjustable-rate mortgages (ARMS) or 7-year ARMS. This is a great deal.

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It’s also worth noting that Fannie Mae has increased their loan limits for 2019—the maximum conforming loan amount is $480,000. If you have any financing questions, you can contact David Bowen at (708) 705-7911 or at [email protected].

More details about the property can be viewed on this PDF document. If you’re interested in purchasing this property and would like to discuss pricing or would like to see it in person, reach out to me.

Today I want to tell you about another wonderful Chicagoland community: Lakeview. Some would call it one of the most walkable communities in Chicago. No matter where you’re at, it seems you’re always close to shopping centers and boutiques. As an added bonus, you’re just 10 minutes from Wrigley Field, and depending on where you’re at, you might also be within walking distance to the Lincoln Park Zoo. You’ll find plenty of great subcommunities within Lakeview, including East Lakeview, West Lakeview, Boystown, Wrigleyville, and Southport Corridor—one of the hottest in all of Chicago.

Today we’d like to take a moment to tell you about one of our Bronzeville listings. 

Given that Bronzeville is one of Chicago’s hottest communities, the first benefit this property boasts is its location. But this is far from being all this 4-bed, 3.5-bath home has to offer.

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Coming in at 2,700 square feet, the property’s floor plan is designed with space in mind. The home comes with a finished basement, two fireplaces, a two-story family room, and a three-car garage—a rarity in Chicago. All in all, local homebuyers should not let this opportunity slip by.

But whether for this home or for another in our area, the matter of financing is also paramount. After all, connecting with a lender is the first step any buyer should take before embarking on their search. And given that conforming loan limits have recently been increased, now is a better time than ever to meet with a mortgage professional to discuss your options. 

If you have any other questions or would like more information about this amazing Bronzeville property, feel free to give us a call or send us an email. We look forward to hearing from you soon.

We’re standing here today in one of my listings in the Bronzeville community, which starts as far north as 26th Street and extends south as far as 48th Street. Bronzeville consists of the Douglas community as well as Grand Boulevard.

There is a lot of elegance and history behind Bronzeville. For example, jazz musicians and famous music producers like Quincy Jones grew up here. 

That’s not to mention the location: Bronzeville is essentially smack-dab in the center between Lakeshore Drive and Guaranteed Rate Field, which is right off 35th Street on the other side of the Dan Ryan Expressway (not even a mile from here). It only takes about 15 minutes to get to the Downtown area, and the public transportation makes it very easy to get into the city of Chicago.

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There is a ton of new construction in the area, as well as residential and commercial properties. You’ll find plenty of great schools, restaurants, and shopping districts in the area—you just can’t beat the placement of this amazing community.

Bronzeville is a great alternative for buyers from the northside or the loop area looking for a little more space for their families.

The community has gone through a lot of changes over the years, and right now, it is booming. Home values are getting better and better each and every year, and it’s easy to find great opportunities here.

If you have any additional questions or are looking to buy or sell a home in Bronzeville, please reach out to us. We’d love to help you take the next step toward your real estate goals.