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buyers market: Plainfield IL, Naperville Illinois Real Estate - Down Payment Assistance - 08/16/08 02:54 AM
For first-time buyers, often the first thought that comes to mind is, "I need a down payment." This is often followed by the question, "Now, where do I get that down payment?"
Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you're set. But what if you don't? What if you're renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn?
One of the most overlooked sources of down … (0 comments)
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buyers market: Plainfield IL, Naperville Illinois Real Estate - How much house can you afford? - 05/09/08 10:09 AM
Deciding how much house you can afford
Before you start house hunting, you need to determine how much house you can afford, which will entail getting either prequalified or preapproved for a home loan. A real estate agent can help you find a mortgage broker to begin the process. While getting preapproved is a more in-depth process, a preapproval letter lets both real estate agents and sellers know that you're a serious shopper who means business.
What do I do to get prequalified?
A prequalification can be done online or over the phone and does not require your submitting financial documents. … (1 comments)
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buyers market: Plainfield IL, Naperville Illinois Real Estate - Possible home ownership tax credit - 03/26/08 10:31 AM
Economist suggests $5,000 home-buyer tax credit to spur homeownership. In the March Real Estate Insights, NAR (National Association of Realtors) chief economist Lawrence Yun, analyzes several federal plans proposed to curb foreclosures and stimulate the housing market. Yun proposes a homebuyer tax-credit of $5,000 tax credit (which currently exists in Washington, D.C.), which would cost the federal government $40 billion. Yun says: "A reversal in the weakness in the housing market, which has been subtracting about one percentage point off GDP growth, can add $40 billion to the U.S. Treasury, essentially offsetting the cost of the tax credit. If the initial $40 billion … (0 comments)
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buyers market: Plainfield IL, Naperville Illinois Real Estate - Home sale trends - 03/26/08 10:25 AM
February home sales activity improved slightly from January as we gear up for the spring market. According to the IAR's (Illinois Association of Realtors) latest report, total home sales were up 15.1 percent in February 2008 to 6,832 sales compared to January 2008 sales of 5,938; sales were down 22.9 percent from February 2007 totals of 8,860. The Illinois median price in February was $181,265, down 5.6 percent from $192,000 in February 2007. "REALTORS are seeing some signs of the spring market with increased activity and interest from potential buyers. If people have good credit, their finances in order, and are looking … (0 comments)
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buyers market: Plainfield IL, Naperville Illinois Real Estate - Why would a realtor want to help me with my short sale if I can't afford to pay them? - 03/19/08 06:42 AM
How does a realtor profit from a short sale?When formally requesting a short sale commitment from the bank, realtor commissions are usually included if a realtor was involved in the deal. The bank may counteroffer to lower the commission. Realtors can also "hunt" for short sales by talking to clients that have had their homes listed for a long time with no success. The realtor can explain the short sale process and help the owner negotiate with their lender to get it sold and the realtor gets their commission.Contact me today so we can evaluate your individual situation.
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buyers market: Plainfield IL, Naperville Illinois Real Estate - Fed Plan Lifts Mortgage Markets - 03/17/08 08:02 PM
Fed Plan Lifts Mortgage Markets
Tuesday, the Fed's surprise announcement of a new $200 billion lending facility led to a 400 plus point rally in the Dow, the biggest one day percentage gain since March 2003. The effect on mortgage rates was also favorable. The newly available funds will make it more appealing for financial institutions to borrow money from the Fed, which is expected to increase the demand for mortgage backed securities. Mortgage markets should benefit, and the spread between mortgage rates and Treasury yields narrowed significantly, reversing the trend from the prior week.
Mortgage rates fell significantly during the week, reversing … (0 comments)
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buyers market: Aurora Illinois Real Estate, Plainfield IL, Naperville IL Real Estate - Aurora Townhome for Sale - 03/13/08 11:33 PM
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buyers market: Plainfield Illinois Real Estate, Naperville IL Real Estate - Will I still have to pay property taxes if I do a short sale? - 03/13/08 11:21 PM
Will I still have to pay property taxes if I do a short sale?
Someone will have to pay the property taxes in a short sale. It's just a question of who? Whether it is the property owner or the lender depends on the policies and specific agreements negotiated during the short sale. Do not take a short sale on by yourself, it's unnecessary. Contact me today.
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buyers market: Plainfield IL, Naperville Illinois Real Estate - Selling your home in todays buyers market. - 03/06/08 08:21 AM
I must admit that it is a challenging time to be selling your home. Improve your odds of selling your home in today's buyer's market with the following tips:
1. Be motivated! There are many homes listed right now. If you don't need to sell, then don't. Ask yourself: Why am I selling?
2. Condition. Gone is the day where the buyer wants to fix up a home. If it's broken, fix it. If it's not neutral, make it. Why should a buyer buy your home over another. Contact me for staging tips.
3. Price it right! What does that mean...........be prepared to list your home … (0 comments)
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Cheryl Bowers, Plainfield, Naperville, IL. Real Estate
Plainfield,
IL
More about me…
Keller Williams Realty
Address: 608 S. Washington Street, Suite 100, Naperville, IL, 60540
Cell Phone: (630) 712-1921
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