When it comes to selling a Evanston or North Shore home, the backbone of any successful marketing strategy is proper pricing. That's because the highest volume of potential buyers sees your home within days of it hitting the market. So if your home is perceived as overpriced right off the bat, you've already missed a huge opportunity.
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Mortgages & COVID-19 – What You Need to Know
2 Apr 2020 | 10:12 pmAs the COVID-19 crisis continues to evolve, volatility and uncertainty have swept through the financial markets. Borrowers saw wild swings in interest rates over the last few weeks and were left to wonder whether they could still qualify for specific loan amounts and close on pending transactions. Amidst the chaos, Guaranteed Rate has been a steady ship in rough waters. We asked them to answer a few questions pertaining to the impacts market volatility has had on the mortgage industry, and they responded with some helpful guidance. Read, share, enjoy and contact your trusted Guaranteed Rate loan officer with any questions. @home: First of all, what happened with interest rates last month? GR: Rates came down at the end of February creating a big refinance boom. Combine this with Spring homebuying activity that was already well ahead of last year’s pace and lenders nationally were dealing with huge pipelines of business. Enter COVID-19. Increasing unease over the economic effects from the novel coronavirus spread forced The Federal Reserve to make significant moves in March. All these factors have led to extreme volatility in the secondary mortgage market. The lasting impact of COVID-19 and its impact on the economy forced the Fed to slash Fed Funds rates to zero. The expectation was mortgage rates would fall in response to the Fed’s activities, but they initially did the opposite. Whether this was due to concern the impact of the COVID-19 was more significant than originally feared, because financial insiders saw the Federal Reserve measure was a short-term fix, or other factors is uncertain. As a result, rates shot up amid a bond sell-off, and we saw national 30-year fixed rates jump from the low 3% range to the mid 4%’s range. More recently on March 23rd the Fed announced their most aggressive market[…]
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CARES Act Promises Relief For Individuals & Businesses
30 Mar 2020 | 3:47 pmOn Friday, March 27, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act, aka the CARES Act, was officially signed into law. As a locally owned business working with you along every step of the residential journey, @properties views this bill as a truly heartening development amidst the monumental challenges of COVID-19. We know there are many resources available to learn about the Act. However, we wanted to summarize some of the essential benefits – especially those that may directly or indirectly apply to your real estate needs. Here are some of the key pieces of the CARES Act and related measures: One-Time Government Payment: Americans will receive a one-time direct payment from the government, which should arrive within three weeks. The payment will be: $1,200 for individuals making up to $75,000 per year $2,400 for couples making up to $150,000 per year $500 per child Gradually reduced amounts up to maximum income limits of $99,000 for singles and $198,000 for couples Use this calculator to see the amount you are likely to receive. Unemployment Benefits Federal and state unemployment benefits have been expanded to give more assistance to a larger group of people. Benefits will be available for those who are unemployed, partially unemployed or unable to work because of COIVD-19. Eligible groups have been expanded to include independent contractors and self-employed individuals. The federal government will provide $600 per week on top of state unemployment payments. The federal assistance is available through July 31, 2020 State benefits have been extended by 13 weeks to a total of 39 weeks. [ILLINOIS] For more information about unemployment benefits, click here. [INDIANA] For more information about unemployment benefits, click here. [MICHIGAN] For more information about unemployment benefits, click here. [WISCONSIN] For more information about unemployment benefits, click here. [GEORGIA] For[…]
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A Message To Home Buyers: Stay Engaged
27 Mar 2020 | 9:34 pmJust as home sellers have been thrown for a major loop by COVID-19, many of today’s buyers are suddenly wondering how or even if they should proceed with their home search. In an encouraging sign, a number of @properties homebuyers have in fact closed on purchases and gone under contract in recent days. But questions about safety, near-term financial impact, and changing personal situations have, understandably, forced many buyers to take a step back. While no one knows exactly when things will normalize, the general consensus is that real estate won’t face a long, drawn-out recovery like the one that followed the 2008 recession. That downturn was caused by real estate, but in most other recessions, home price appreciation has continued, and the housing market has even driven economic recovery. With that in mind, there are many things buyers can do now to stay informed about local market conditions, monitor inventory, and even continue viewing properties – all with an eye toward getting back into the market. Here’s a short list: Stay in Touch with Your Agent If you were well down the home-buying path when COVID-19 became a full-blown crisis, chances are you’ve communicated with your agent a lot in recent days. Good. Keep in touch. In times like these, there are no stupid questions and no such thing as too much information. Your agent’s experience, resources and boots-on-the-ground knowledge matters more than ever, so maintain that dialogue. We want to hear from you. Watch for New and Pre-Market Listings While things have slowed significantly, new listings are still coming on the market almost every day. Other sellers, who were just about to list their homes, have decided to wait until later in the year. But with photos and marketing materials ready to go, some of those sellers will[…]
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So, Your Kids Are Done With E-Learning at 11:00am. Now what?
27 Mar 2020 | 6:23 pmLet’s be honest. If you have young children at home, your life is complete chaos these days. With schools closed and students taking an e-learning approach to their assignments, parents are doubling as teachers – spending their days trying to make sense of confusing math worksheets and abstract essay prompts. And without set class times and extracurricular activities to burn off some energy, the phrase “I’m bored,” has become all too common. Here are a few ways the kids can keep busy while you sort out your responsibilities. Watch Livestreams of Zoos and Aquariums Even though they are closed to the public, many zoos and aquariums across the country are sharing livestreams of their exhibits. The Brookfield Zoo is bringing the zoo to you with daily videos on their Facebook page, where kids can watch Quilbert the porcupine eating his favorite snacks or the Nigerian Dwarf goats doing rollcalls and getting their weigh-ins. The Shedd Aquarium has live cams of the Underwater Beauty exhibit and regularly updates their Facebook page with their most viral (and adorable) sensation to date, the penguins. The best part about this activity? The kids aren’t limited to just local zoos and aquariums. They can explore species in Washington D.C., Cincinnati, San Diego, and St. Louis. Take a Trip to the Louvre Okay, we know that hopping on a plane to Paris and going to the Louvre isn’t an option right now. But the iconic museum has online tours that make it easy to visit the exhibition rooms and galleries from your couch. Google Arts & Culture also offers visual tours of the Van Gogh Museum in Amsterdam, Musée d’Orsay in Paris, and the National Gallery of Art in Washington D.C. Read Daily Keep kids’ minds stimulated by having them ditch their phones and video games[…]
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How To Stay Productive While Working From Home
26 Mar 2020 | 3:37 pmWhat happens when the lines between work life and home life become blurred? It’s a question many of us are facing as we practice social distancing and the art of working from home. Maybe you’re someone who runs into distraction after distraction – the dishwasher needs to be unloaded, the laundry needs to be folded, the dog needs to be walked. Or perhaps you’re the type of person who ends up answering emails way beyond normal office hours and working into the wee hours of the morning. Wherever you are on the spectrum, it’s important to find a healthy balance. Here are our tips: 1. Set Your Normal Alarm Since you aren’t doing your morning commute, you have more time to exercise, tackle household chores, or make breakfast. However you choose to use that extra time in the morning, be sure to wake up when you normally would. It’ll be easier to follow your regular routine than it would be to, let’s say, roll out of bed five minutes before the work day begins. Plus, you can always sleep in on the weekends! 2. Ditch the PJs While the occasional pajama day may be acceptable, you should stick to your routine of getting dressed for work every morning. No, you don’t need to put on your business best, but you should wear something that’s acceptable for your boss, clients, or colleagues should you need to do a video conference. 3. Have a Dedicated Work Space Avoid having your work life (physically) spill into your personal life by designating an area of your home for work. Rather than conducting business from the couch, try to find a quiet, low-traffic place where you can set up and recreate elements of your actual work station. If you have a home office, be sure[…]
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Sellers: Now Is The Time To Keep Your Listing Active. Here’s Why.
25 Mar 2020 | 5:08 pmOne of the most common questions among home sellers during this crisis is, ‘Should I take my home off the market?’ We understand that in times of fear and uncertainty the first instinct is to pull back. However, if your goal is to sell your home in 2020, there are a number of reasons why de-listing right now will be counterproductive. Believe It Or Not, There Is Still A Market We are several days into the Stay-At-Home order for Illinois (with Michigan, Indiana and Wisconsin now following suit), and we are actually still seeing homes go under contract. Negotiations are taking place, and buyers and sellers are coming to terms, oftentimes attaching a “COVID-19 Addendum” to the contract to protect the parties in the event of extended delays. Granted, it’s a small segment of the active market, but it is happening…unless, of course, a seller’s home is no longer for sale. So, the opportunity to actually strike a deal is one of the best reasons to stay in the game. Buyers Have Deadlines Another reason for sellers to keep their homes actively listed is that there are many buyers out there who simply have to move in the coming months. Reasons range from job transfers to kids starting school to having to vacate a current residence because of a sale or lease expiration. These buyers, who were ready to go at the start of spring, will re-enter the market as soon as possible. For now, they are searching online, communicating with their agents and mortgage brokers, and actively seeking out virtual tours. Online Activity Is Increasing As a result of the crisis, people are spending more time in front of their screens. At the moment, they may be focused on news, but if they were conducting a home search prior[…]
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8 Ways to Make the Most of Social Distancing
19 Mar 2020 | 7:03 pmAs we spend more and more time indoors this month, we wanted to share a few ways you can take advantage of being home. So whether you’re catching up on sleep, learning a new skill, or planning your next well-deserved vacation, make the most of it! Here are some things you can do while you practice “social distancing.” 1. Start Spring Cleaning Early There’s no time like the present to get ahead on spring cleaning. With many of us working from home these days, it’s important to show your space a little love by deep cleaning the bathrooms, kitchen, and common areas. Be sure to clean less obvious places such as light switches, doorknobs, remote controls, and phones. This is also a great time to tidy up à la Marie Kondo. 2. Exercise While most gyms and group fitness classes are closed for the time being, there are still ways to stick to your New Year’s resolution of staying healthy. YouTube has a great selection of free workout videos, with everything from yoga to Pilates to HIIT exercises. The following local and national fitness studios are also hosting online workout classes that you can do right in your living room without any equipment: CorePower (Free) Pilates + Coffee ($10 for 55-minute class on website) Studio Three (Free on Instagram Live) YogaSix (Free on Facebook Live) Nike Training Club (Free with in-app purchases) 3. Learn a New Recipe Now that you’ve got some extra time on your hands, treat yourself to some delicious new recipes. Don’t know where to start? New York Times is offering a free trial to a 30-day guide of at-home lunches. And for some dinner ideas, check out these easy, pantry-friendly recipes from HuffPost. 4. Have a Game Night Tap into your competitive side and whip out[…]
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