Feb. 20, 2017

How Will Rising Mortgage Rates Affect You?


Everyone expects interest rates to continue to rise in 2017. How high will they get and how will those increases affect you?

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Where are mortgage rates heading?

This year, interest rates will continue to rise. We pulled the numbers from the top four financial institutions in order to predict what rates will look like throughout 2017.

During the first and second quarter, rates should be around 4.25%. By the end of the year, rates could be anywhere from 4.5% to 5%.

 


"A 1% increase in rates means a 10% loss in your purchasing power. "

 

What does that mean to you?

Let’s put it this way: A 1% rise in interest rates equals a 10% loss in your purchasing power. That means your monthly mortgage payment will increase by 10%.

If you have any other questions about mortgage rates and how they will affect your 2017 real estate goals, please give me a call at (773) 312-5932 or send me an email at Leigh@MarcusRealtyTeam.com. I would love to help you!

Posted in 2017
Feb. 6, 2017

February Chicago Market Update


What's going in the Chicago market? Today, I'll explain why it's positive for both home buyers and sellers.

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The Super Bowl's over and the spring market is in full swing. How does this year stack up with last year?


The number of sales in the Chicago market is already up 18% versus last year, and that's great news. The number of new listings to come onto the market is up 23% versus this time last year as well.

 


"Overall, it's a very positive market."

 

Not only are there a lot more buyers out there than there were this time last year, there are more homes for them to choose from. Overall, it's a very positive market.


The threat of interest rates continuing to rise has brought out buyers and we had a strong December. All of that momentum has carried over into spring.

If I can help you in any way, please give me a call at (773) 312-5932 or send me an email at Leigh@MarcusRealtyTeam.com. I would love to help you!

Posted in 2017
Jan. 19, 2017

Failed to Sell the First Time? I Can Help.

Why do I specialize in expired listings? Here are a couple examples
that demonstrate the difference my expertise makes.

Buying in the Chicago area? Click here to get a Full Home Search
Selling in the Chicago area? Get a FREE Home Price Evaluation


Why do I specialize in cancelled or expired listings? To answer that question, let me tell you about a few homes I sold recently which were listed on the MLS with another agent and failed to sell.


As you can see in the video above, the first home is at 939 W Huron St. #103 and was listed with a local broker for 101 days. I then took this listing and sold it within five days for 100% of the asking price.


"This is the difference I can make when it comes to expired listings."


The second home is at 1910 W Addison St., Unit G. It was also listed with another broker for 180 days. When I took over the listing, it sold in 22 days for 97% of the asking price.

If I can help you in any way, please give me a call at (773) 312-5932 or send me an email at Leigh@MarcusRealtyTeam.com. I would love to help you!

Posted in 2017
Jan. 7, 2017

When Does the Chicago Spring Market Open?

Spring officially starts in March, but the spring real estate market opens up much sooner.

Buying in the Chicago area? Click here to get a Full Home Search
Selling in the Chicago area? Get a FREE Home Price Evaluation


Spring officially starts in March, but that's not the case for the Chicago spring real estate market.

 

Many times, the spring market here actually starts right after January 1st. There's a whole new set of buyers coming in.


If you're looking to buy a home, there will be more homes coming onto the market. If you're looking to sell a home, there will be more buyers coming out to look at your home.


The spring market actually goes from January to June.





After the Super Bowl in early February, the spring market continues to pick up steam all the way through March, April, May, and sometimes into June. That's why in my eyes, the spring market actually goes from the beginning of January to the end of June.

If I can help you in any way, please give me a call at (773) 312-5932 or send me an email at Leigh@MarcusRealtyTeam.com. I would love to help you!

Posted in 2017
Dec. 15, 2016

Why Is Winter a Good Selling Time in Chicago?


Did you know winter is actually a great time to sell your house? Don't take my word for it though; today I have four reasons to back this claim up.

Buying in the Chicago area? Click here to get a Full Home Search
Selling in the Chicago area? Get a FREE Home Price Evaluation
 

Contrary to what you may have heard, winter is actually a great time to sell your home. Why?

  1. People who look during the holidays are the most serious buyers. These buyers aren't just out looking around when it's cold and there is snow on the ground. These are real buyers!

  1. Serious buyers have fewer homes to choose from. Less competition means more money for you since demand will be higher for your home.

  1. Some people have to buy this time of year for tax reasons. There are also people who relocate for work, so these types of buyers are plentiful right now.

  1. Houses show better when decorated for the holidays. There are plenty of people who try to envision themselves living in your home, and they'll like how your home shows during the holidays when it's decorated and feeling cozy.

If you have any questions about selling this winter or about Chicago real estate in general, give me a call at (773) 312-5932 or send me an email at Leigh@MarcusRealtyTeam.com. I would love to help you!

Posted in 2016
Dec. 7, 2016

December Market Update

Today I'll explain why there is an inordinate amount of buyers on the Chicago market looking to buy now, when traditionally, the market is slow.

Buying in the Chicago area? Click here to get a Full Home Search
Selling in the Chicago area? Get a FREE Home Price Evaluation


It's actually the most interesting December we've had in awhile in Chicago. There is a lot of activity with buyers going on right now, for many reasons. Interest rates are still very low, but they will go up soon. In spring, interest rates will probably be higher, which means home prices will likely go up. A lot of buyers are jumping into the market now to take advantage of these lower rates and lower home prices.

We're seeing more buyers out, more home showings happening, and more homes selling.

 


More buyers than normal are buying now due to rising interest rates.





If you've been putting off moving because of the timing of the season, this could be a really good time to make your move.

If I can help you in any way, give me a call today please give me a call at (773) 312-5932 or send me an email at Leigh@MarcusRealtyTeam.com. I would love to help you!

Posted in 2016
Nov. 14, 2016

Is Your Chicago Home Ready for Winter?

< I have four tips to help you prepare your home for winter weather.

Buying in the Chicago area? Click here to get a Full Home Search

Selling in the Chicago area? Get a FREE Home Price Evaluation
 

What can you do to make sure your home is prepared for winter? I have a few tips for you today:

  1. Service your HVAC system and replace the filters.

  1. Remove the garden hose from external water sources and shut off the internal valve.

  1. Turn the humidifier on. Turn the humidifier up to keep your wood floors from warping, too.

  1. Put the utilities in your name. That way, if you are going to move out or if you have a tenant, you can maintain a temperature of 60 degrees in the house so that your pipes don’t freeze. I also recommend keeping a drip of lukewarm water running through your pipes.

If you have any other questions about preparing your home for winter or about the real estate market in general, give me a call or send me an email. I would be happy to help you!

Posted in 2016
Oct. 25, 2016

Who Can I Put You in Touch With?

     As a real estate agent, it’s my job to be a resource to you in a lot of different ways, and one important way is by putting you in touch with my contacts. 

Buying in the Chicago area? Click here to get a Full Home Search

Selling in the Chicago area? Get a FREE Home Price Evaluation

 

It’s my job as a real estate agent to be a resource to you, and I can do that in many different ways. One way I can help you is by referring you to the right person.

 

So what I’d like to ask you today is: who can I put you in touch with?

 

 

Over the years, I’ve formed relationships with many people in all different lines of work. For example, if you’re moving to the suburbs, I work with agents in every Chicago suburb. If you’re thinking about moving away from the city, I can put you in touch with the best agent in each town.

 

If you’re considering an out-of-state move, I also know and network with the top agents all over the country and see them at events a few times per year.

 

I can put you in touch with virtually anyone from mortgage brokers and financial planners to tax attorneys, accountants, contractors, and interior designers. Just let me know what you need and I’ll make it happen.

If you have any projects coming up that you need advice about or any other questions about the kinds of resources I can make available to you, don’t hesitate to reach out to me by phone or email. I’m always happy to help you!

Posted in Referrals
Oct. 10, 2016

A Quick Tip for Buying and Selling a Home at the Same Time

Buying in the Chicago area? Click here to get a Full Home Search

Selling in the Chicago area? Get a FREE Home Price Evaluation

 

What’s the best strategy to employ if you’re buying a home at the same time you’re selling one?

Buying and selling at the same time can be a very stressful endeavor, especially when you’re trying to line up a closing date on your new home while closing on your old home. Logistically, you’ll have to find a temporary place to store your things from the old house between moving out and moving in.

 

One solution that works very well is to close on the home you’re selling the day before you close on the home you’re buying. In the meantime, you can store your belongings in a moving truck. Most moving companies in the city will charge about $100 per truck, per night to store your belongings in the truck overnight. This way, when you close the next day, you’ll already be moved out and will be able to close on and move into your new home.

 


Be sure to give the moving company advanced notice.


 

Because this is a popular option, many times moving companies will be booked four to six weeks in advance.  If this is something you’re interested in doing, you’ll have to give advanced notice to the moving company. This is an effective way to reduce the stress that comes with buying and selling at the same time.

 

If you have any questions about this or anything else related to real estate, give me a call or send me an email. I’d love to help.

Posted in 2016
Sept. 12, 2016

Behind the Scenes

Growing up, my family showed me the value of hard work and serving others. I have carried those values throughout my life, and into my real estate business.I invite you to experience the Marcus Realty Team difference, and see how we work hard to serve you, our clients.  Please, watch our short video.

Posted in 2016