Real Estate

As the Housing Market Deteriorates for Sellers, Divorcing Couples Need to Take Heed

By Douglas Katz – 08/10/2022 Realtor.com reported this week that listings have grown at a rate of 30.7% from the same time in 2021.  This is great news for the market in general as we move toward a more balanced market, but makes things complex for divorcing couples. When analyzed with other indicators such as …

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Differing Predictions for Housing Prices Forecast Between 9.7% and -0.5% Change by May 2023

  By Douglas Katz – 07/05/2022 All current predictions are down from previous years. Predictions are for single digit or negative changes in the coming year. All forecasts show capitulation that we are past the inflection point and correcting. Mortgage rates had large impact on the slow down and correction. Fortune reported yesterday on the …

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Weekly Mortgage Rate Update – Rates Stabilize for Now

By Douglas Katz – 6/30/2022 Per Freddie Mac: The rapid rise in mortgage rates has finally paused, largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession. This pause in rate activity should help the housing market rebalance from the breakneck growth of a seller’s market to a …

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Deconstructing New Construction – The Caveats for Buyers

By Douglas Katz – 06/30/2022 HIGHLIGHTS New construction has many important considerations that add cost and stress to a deal. Buyers have very little control and bear most of the risk for higher costs, higher rates and an extended timeline. Planning and understanding if the important variables will assist you in having a good transaction …

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Ownership, Title and Vesting – More Important Than You Might Think

By Douglas Katz – 06/28/2022 HIGHLIGHTS Title vesting defines ownership and who has claim to the property. Proper vesting is essential to ensuring that ownership passes the way you want after your passing. All vesting types have benefits and drawbacks that you need to consider especially during times of change in your situation like marriage …

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The Homestead Exemption for Veterans with Disabilities – What You Need To Know.

By Douglas Katz – 06/27/2022 Veterans in Illinois can save up to 100% of their real estate taxes. Savings depend on their disability rating and the county. Caps and different policies can drastically change the benefit for different situations. Some veterans either lose it soon after getting it or do not even get it as …

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Where Will Housing Go In 2022?

By Douglas Katz – 06/23/2022 First let me get this out of the way.  I recommend strongly that you delete, throw away and disregard any forecasts more than 30 days old.  Too much has changed in the markets and, more importantly, in the sentiment of real estate and mortgage professionals, buyers and sellers.  Rates have …

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How Much Do Mortgage Rates Matter?

By Douglas Katz – 06/23/2022 Mortgage rates have been at the height of discussion and media coverage lately.  After a long period of the lowest rates in recorded mortgage history. rates have spiked.  This freaked out buyers, killed all refinances and generally created a mild panic.  What is interesting, however, is that many prospective buyers …

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Weekly Mortgage Rate Update – Mortgage Rates Continue to Climb on Inflation Concerns

Per Freddie Mac: Mortgage rates surged as the 30-year fixed-rate mortgage moved up more than half a percentage point, marking the largest one-week increase in our survey since 1987. These higher rates are the result of a shift in expectations about inflation and the course of monetary policy. Higher mortgage rates will lead to moderation …

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Bad News for Homebuyers as Builders Confidence Falters

By Doug Katz – 06/16/2022 The National Association of Home Builders (NAHB) recently conducted a poll regarding the confidence of builders in the future housing market.  The outcome was not encouraging.  In all three components of the poll, current single-family homier sales, future single-family home sales and traffic of prospective buyers, builders were pessimistic about …

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