Posts Tagged ‘real estate buyer tips’

Growing Economy May Mean Higher Rates for Everyone

Many buyers are not aware that the interest rates that we have been seeing for many years are historically low. In 1985, when I purchased my first home the interest rate was at 12%. Today, you would be shocked if a lender offered you a mortgage rate that high. But as the economy grows, it may mean higher rates. Expect those low 4 and 5% interest rates to begin to rise soon.  Thirty year fixed rates may rise to 6% by December and 6.5% by the end of 2011.

Today, you have an unbelievable choice of housing to select from. Hundreds of good, solid homes are on the market at reasonable prices. Without a doubt, if you are a first time buyer and your credit and income are good, this is THE time to purchase.

Take a look at what is available on my website at: 123HomeSweetHome.com.

You can view homes for sale in Lombard as well as all other areas areas throughout Chicago and the Western Suburbs with no sign in required. Just browse and look at the opportunities out there.  And if you see something that you would like to see in person, just give me a call at 630.730.8027 and I would be happy to schedule an appointment for you.

To subscribe to this blog by email use to box near the top of the left hand column.

To talk to a Realtor® who knows Lombard and the surrounding areas like the back of her hand, Call Caryn Kuhlman 630-730-8027

House Hunting Tips for Buyers in Chicago’s Western Suburbs

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. Here are a few tips for buyers.
1. Know thyself: Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a two story? If you want a fixer upper, do you have the $$ and the time? Start a Priority list of “Need”, “Want” and “Dreams”. Keep updating and deleting the list.

2. Get your finances in order: Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing.

Call Pat Cannone at Coldwell Banker Home Loans @630.962.6680 and tell him Caryn sent you. He will be able to tell you what you can afford and will offer you a FREE pre approval letter.

3. Research before you look: Begin your search by going to 123HomeSweetHome.com and use my FREE home search. You don’t have to even sign in. See what your price range has in the way of amenities. Can you actually get into the neighborhood you have always wanted? While you are there, check out my link for schools in the area.

4. Think long term: In today’s Real Estate environment, you need to be thinking in the long term. You should plan to be in your new home for at least six to seven years. Location is as important as it ever was, perhaps even more so today than ever before. Find an area you love and you can never go wrong. If you are not sure about what area would suit you, give me a call and I can help you narrow your search.

5.  Be realistic: It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded. I once had a client who refused to see anything that had a blue house on the same block. True Story!

6. Find an agent you trust and Listen to their advice: It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. I recently had a client that missed out on his dream home because he didn’t believe there was a second offer and wanted to think about it. It was SOLD that night.

If you are just beginning your first home search or are in the market for your end house, I would love to work with you. Take a moment and see what my clients are saying about me on my website: 123HomeSweetHome.com.

To subscribe to this blog by email use to box near the top of the left hand column.

To talk to a Realtor® who knows Lombard and the surrounding areas like the back of her hand, Call Caryn Kuhlman 630-730-8027