Rates Are On the Rise
On the fence to buy this year? Rates are on the rise and that will lower your buying power. Contact me to get a game plan that you can successfully execute.
Chicago home sales and prices spiked in January
If you are on the fence about buying this year then I highly recommend talking to a lender to ask them to run some numbers for you. With sale prices and rates going up your buying power can be a lot higher this year compared to next year, even if you have that extra year to save. Contact me with any questions.
http://chicago.curbed.com/2017/2/23/14714718/chicago-real-estate-home-sales-prices-january-2017
Danger to Recovering Housing Market
Since Trump was elected president, interest rates have been climbing up, which brings dangers to the housing market and affordability, according to this article on Fifth Third Mortgage Company.
“The 30-year fixed rate mortgage increased for the fifth consecutive week and reached a new high for 2016 this week at 4.13%, according to Freddie Mac’s survey. This increase is already making waves in the housing market. According to Black Knight’s report, the number of potential refinance candidates fell by more than 50% over the last few weeks. And it could only continue to increase from here. Housing experts are saying there is a 100% chance that the Federal Reserve will elect to raise rates at its last meeting of the year.”
Possible Affordable Housing Development Coming to Logan Square
On top of the developments already under construction in our beloved Logan Square, the popular neighborhood could be looking at another complex really close to the Kedzie Blue Line station. According to this story on Curbed Chicago, the plan for a transit oriented that calls for 100% affordable housing, has been proposed by the United Neighbors of the 35th Ward. The new construction would be situated on Emmett Street in what is currently a parking lot near the Blue Line Station.
“The hypothetical scenarios featured proposals with a mix of uses, such as market rate housing, affordable housing, retail space, and park space. Developers who participated on a panel suggested that the focus should be on density and retail space while residents voted in favor of providing new green space and affordable housing,” says AJ Latrace.
Read more about this story here.
Luxury Home in Logan Square
Logan Square is THE place to be right now. It’s perfect for families and for single working people, with its close proximity to the L, local bars and restaurants. If you’re looking for a spacious, modern single-family home in Logan Square, I have just the thing.
The home at 1939 Monticello is currently on the market for 525k, featured 4 bedrooms, a dining room, living room, backyard and a finished basement. Peak your interest yet? Read more about this listing in this Tribune article and contact below to request a showing.
Nicole Duran
Call/text: (773) 905-9472
Email: ni****@ch*********.com