By now if you are thinking about purchasing a home you have probably heard of how hot the Chicago spring housing market has been. Why is this? A couple different factors have led to such a crazy spring market. We are seeing historically low inventory levels for homes in Chicago. This has happened before so why is it so different this time? We are also experiencing historically low interest rates which has led to an influx of buyers looking to purchase homes. These two factors have resulted in a very hectic spring market that may seem impossible to navigate. Don’t worry though, we have some tips and advice to help you get your dream home!
The first thing you need to make sure of before exploring the housing market is that you are preapproved. This means having all of your finances in order and then reaching out to a mortgage broker in order to obtain that preapproval letter. Why is this so important? It may seem like a simple piece of paper but it’s the foundation for your entire home buying process. It tells you what you can afford so that we know exactly what kind of homes to put in front of you so you can pick the perfect one. Even the best realtors sometimes don’t take their own advice. Watch the video to learn about the house Ed missed out on in Michigan.
The next thing that we recommend in order to help you along in your journey is follow our 80/20 rule. No house is perfect and in such a competitive market, searching for perfection can mean missing out on the right house. Make a list of everything you desire in a home and figure out what are the 80% of things you can’t live without and the 20% that you can, so that you can narrow down some options to pursue!
In today’s competitive housing market, every advantage counts. Communication between agents is crucial to keep deals alive, in addition to helping you secure your dream home. We have a unique knack for communication and conveying our client’s wants, needs and desires throughout the life of a real estate transaction. We pride ourselves on our communication skills, as we have been practicing them a lifetime! Make sure to check out our blog post about Zenlist as well! This new app offered by @properties is a game changer and the reason why our clients are beating the competition when it comes to getting their dream home!