July fourth marks the day on which the Declaration of Independence was adopted by the Continental Congress in 1776. The first official Independence Day Celebration was held four days later, on July 8, in Philadelphia, where the document was formally adopted.
Today we celebrate that freedom and independence with barbecues, picnics, and family gatherings, fun and fireworks.
So what do you have planed for this years July 4th?
Wishing you a safe and happy 4th of July from our home to yours.
- The Richard Ives Team at RE/MAX
For all of your real estate needs contact Richard Ives, RE/MAX At Home.
Something Old, Something New: Tips for Today's Buyer
With the recent shakeup in real estate markets across the country comes a new world - one that includes fewer exotic home loans, greater regulation, new pricing and different expectations of home appreciation. Ironically enough, the freshest advice for today's potential home buyers lies in sound fundamentals their grandparents may have used when purchasing their own homes decades ago.
Below are time-honored home buying essentials that apply now more than ever (with a new-school tip thrown in for good measure):
Save Up to Pay Down - The tradition of the down-payment is almost as old as real-estate itself, yet home loans with no money or very little money down became increasingly popular during the start of the decade. Changes in the credit market have made such arrangements all but nonexistent today, and in many cases buyers won't be considered for a loan without at least a 10% down payment waiting in the wings.
In reality, buyers who invest at least a 15% to 20% down payment will be rewarded as markets re-stabilize. A larger down payment provides the buyer with a lower interest rate, lower payments, higher equity and a stronger negotiating position when it comes to refinancing.
Borrow Smarter - Lenders will employ a variety of different metrics to determine how large of a loan and monthly payment you qualify for, but ultimately you must determine a realistic monthly budget. Qualifying for a home doesn't necessarily mean that you can truly afford the payments in the real world. Start the home buying process off right by determining exactly what kind of mortgage payment you can afford, leaving yourself enough buffer to deal with life's little surprises.
Focus on Your Market - It's easy to be distracted by national housing headlines, but real estate has always been centered on very specific local market conditions. What is true in one area is not the case in another, sometimes down to the street level. Rather than paying too much attention to trends in distant cities and markets, keep your eyes squarely on the dynamics close to home: local sales prices, average number of days on market, foreclosure rates, and the relative health of the job market in the area.
Buy the Home That Fits Your Life (Not Someone Else's) - It may seem rudimentary, but the purchase of a house is first and foremost a very personal process of choosing the place that you will call home. The unsustainable appreciation in previous years has caused many to focus on real estate as an investment, a commodity that must be purchased with an eye primarily on resale value. Put simply, we have collectively developed the mentality of "the flip."
The truth is that the home you buy is much more than an asset with four walls and a breakfast nook. There is no guarantee in any market that you will be able to turn around and sell your house for a handsome profit. By remembering that you are buying for your family and not the buyer three or five or seven years from now, you ensure that you end up with your home, not just a residence.
Make the Internet Work for You - Information has always been tantamount to power, but today information moves at a faster speed than ever before. If you aren't using the Internet as a major part of your buying strategy, you're already at a disadvantage to shrewd home buyers who use the power of the web to research and compare listings. Setting up online home searches, saved favorites or new listing email updates is easy, regardless of your computer know-how. The more knowledge you have at your fingertips, the better prepared you will be moving forward.
On average, the value of a home nearly doubles every ten years
- Over the last ten years, the cost of rental housing in the U.S. has increased an average of 3% per year.
- The apartment or home that you rent for $750 a month will cost you more than $978 a month 10 years from now
- The National Association of REALTORS estimates that on average, the value of a home nearly doubles every ten years.
- As a homeowner you earn appreciation on your purchase price, something you cannot earn as a renter.
- In Illinois, the median home price has increased more than $40,000 since 2002. This value, paired with low interest rates and plentiful inventory makes now the perfect time to transition from renter to owner.
For all of your real estate needs Make An Intelligent Move and contact Richard Ives
If you are currently in the market to purchase a home, you may be interested in how a REALTOR can help you. You are about to make a great investment of both money and time. I have a wealth of experience helping buyers like you make sound, informed decisions.
Here are some ways that a real estate professional can help you:
Agents can help establish a plan for a home that fits your needs. Style, size, amenities, and other preferences will help determine what kind of home is best suited for you.
They will help you to determine realistic spending limits. They can often explain alternative financing options or introduce you to a mortgage counselor. Agents can arrange to have you "pre-approved", which can help improve your positioning in negotiations.
Their access to all home listings within the multi-listing system enables them to evaluate based on your affordability and the qualities you desire.
They have access to information on taxes, real estate values, utility costs, and municipal services, all of which can aid you in your decision to buy.
They can work for you as a buyer's agent, helping to negotiate the best terms and price for you. Ask if your agen is an ABR (Accredited Buyer Representative) This means that they have special training in representing buyer's.
They can make you comfortable with the closing process and they will obtain closing figures in advance for your review.
They can recommend home inspectors, pest inspectors, and surveyors, and can help arrange inspections.
These are just a few ways that a quality real estate agent can help you in your journey towards buying your home. More information for first time buyers can be found on my website or by calling me directly. I'm confident that I can provide the kind of exceptional service that will make this process an exciting one. Please don't hesitate to call or e-mail me with any questions you may have.
Need help solving your real estate puzzle? Make An Intelligent Move and Call Richard Ives for all of your real estate needs.
I personally think that Chicago is one of the greatest cities. There is so much to do and experience in Chicago it is difficult to know where to begin. To get an overview of the city you may want to visit the Sears Tower Skydeck or the John Hancock Observatory. While you are Downtown you do not want to miss Navy Pier. There are a variety of boat tours and city bus tours that depart from Navy Pier as well as other city locations.
If you want to visit a museum you are definately in the right city. The museum campus is loacted near Soldier Field (This is where the Chicago Bears play) is home to two wonderful museums The Field Museum and the Adler Planetarium. Also located in the museum campus is the Shedd Aquarium which is the largest indoor aquarium in the world featuring more than 8,000 aquatic animals you will want to put this on your list of things to do while in Chicago. Also, you can take a water taxi between the museum campus and Navy Pier. You will also want to check out the IMAX Theatre at the Family Pavillion when you visit Navy Pier. There is also a 150 foot high Ferris Wheel, a carousel, a minature golf course, and many shops and restaurants.
Chicago is also home to two great zoos. On the Northside of Chicago you will find the Lincoln Park Zoo. This is a free zoo and it is open every day of the year. Also, this is one of the oldest zoos in the USA. Do not worry it is very modern and a great place to visit. Brookfield Zoo is located in Brookfield, Illinois which is located just west of the city of Chicago. Brookfield Zoo is located on 216 acres of beautiful grounds and features over 2,000 animals so you do not want to miss a visit to either of our zoos or if you have time visit both.
Depending on what time of year you visit Chicago you there will most likely be a special event going on. The Taste of Chicago, The Chicago Air and Water Show, Venetian Night and The Chicago Blues Festival to name a few.
Have a wonderful stay in Chicago and I hope that you now have a few great ideas to plan your trip to Chicago.
Need help solving your real estate puzzle? Make An Intelligent Move and contact Richard Ives at www.richardives.remax-ni.com/ for all of your real estate needs.
A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. Research by the National Association of REALTORS has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative.
The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer's best interests in mind throughout the entire real estate process. A buyer's representative will:
Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications.
Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale.
Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure that the identified specifications are met.
Research the selected properties to identify any problems or issues to help the buyer make an informed decision prior to making an offer to purchase the property.
Advise the buyer on structuring an appropriate offer to purchase the selected property.
Present the offer to the seller's agent and the seller on the buyer's behalf.
Negotiate on behalf of the buyer to help obtain the identified property -- keeping the buyer's best interests in mind.
Assist in securing appropriate financing for the selected property.
Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, etc.) if these services are needed.
Most importantly, fully-represent the buyer throughout the real estate transaction.
When your ready to buy your next home look for an ABR or give me a call and I will be happy to find an ABR for you in your area.
The world of real estate can seem like an intimidating place. Whatever your particular need, a real estate professional such as myself can help you navigate these potentially hazardous waters.
I pride myself not only on my professionalism, but also on my ability to understand my clients' needs. I've always felt that to help someone you must first build a relationship. The relationship you have with your real estate agent can be a valuable one indeed.
If you have any real estate questions, please give me a call. Whether buying, selling, or just curious to learn more, I'm here to assist you in any way possible. I look forward to hearing from you.
The following is a list of just a few of the movies that take place in our great city of Chicago. What is your favorite? Do you have a favorite Chicago scene from the movie? Share it with us. We would love to hear from you. Post your thoughts below.
Ferris Buller's Day Off
The Blues Brothers
The Fugitive
Risky Business
The Untouchables
Barbershop
The Break-Up
High Fidelity
For all of your real estate needs contact Richard Ives, RE/MAX At Home.
On average, the value of a home nearly doubles every ten years
- Over the last ten years, the cost of rental housing in the U.S. has increased an average of 3% per year.
- The apartment or home that you rent for $750 a month will cost you more than $978 a month 10 years from now
- The National Association of REALTORS estimates that on average, the value of a home nearly doubles every ten years.
- As a homeowner you earn appreciation on your purchase price, something you cannot earn as a renter.
- In Illinois, the median home price has increased more than $40,000 since 2002. This value, paired with low interest rates and plentiful inventory makes now the perfect time to transition from renter to owner.
For all of your real estate needs Make An Intelligent Move and contact Richard Ives of RE/MAX At Home.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Happy 4th of July!
Make An Intelligent Move with Richard Ives
In reality, buyers who invest at least a 15% to 20% down payment will be rewarded as markets re-stabilize. A larger down payment provides the buyer with a lower interest rate, lower payments, higher equity and a stronger negotiating position when it comes to refinancing.
The truth is that the home you buy is much more than an asset with four walls and a breakfast nook. There is no guarantee in any market that you will be able to turn around and sell your house for a handsome profit. By remembering that you are buying for your family and not the buyer three or five or seven years from now, you ensure that you end up with your home, not just a residence.
Happy first day of Summer everyone.
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