The HousingCoach Blog
Important and useful information about Home Buying, Home Selling and the Chicagoland Real Estate market, to help you make the most of Your Personal American Dream. Explore, Learn, and Take Action.
Foreclosure Activity Is Still Lower than the Norm
Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story.The truth is, if you compare the...
2 of the Factors That Impact Mortgage Rates
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?The answer is complicated because there’s a...
Will a Silver Tsunami Change the 2024 Housing Market?
Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market.What Does Silver Tsunami...
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Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]
Some HighlightsHome affordability depends on three factors: mortgage rates, home prices, and wages.Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.That’s good news if you...
The Top Benefits of Buying a Multi-Generational Home
Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to...
Are More Homeowners Selling as Mortgage Rates Come Down?
If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.The Mortgage Rate Lock-In...
Experts Project Home Prices Will Increase in 2024
Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every...
3 Must-Do’s When Selling Your House in 2024
If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.A great way to balance those emotions and make sure you’re...
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Key Terms Every Homebuyer Should Learn [INFOGRAPHIC]
Some HighlightsBuying a home is a big deal and can feel especially complicated if you don't know the terms used during the process.If you want to become a homeowner this year, it's a good idea to learn these key housing terms and understand how they relate to the...
3 Key Factors Affecting Home Affordability
Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more...
2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers
If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7%...
Why You May Want To Seriously Consider a Newly Built Home
Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why.Near-Record Percentage of New Home...
Homeownership Is Still at the Heart of the American Dream
Buying a home is a powerful decision, and it remains at the heart of the American Dream. Unlike renting, owning a home means more than just having a place to live – it offers a sense of belonging, stability, and freedom. According to Nicole Bachaud, Senior Economist...
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Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]
Some HighlightsIf you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in...
The Dramatic Impact of Homeownership on Net Worth
If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which...
Avoid These Common Mistakes After Applying for a Mortgage
If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own. But before you get too far down the emotional path, there are some key things to keep in mind after you apply for your mortgage and before...
Ways Your Home Equity Can Help You Reach Your Goals
If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this:“. . . your home’s equity is the difference between...
What Lower Mortgage Rates Mean for Your Purchasing Power
If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%,...
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Achieving Your Homebuying Dreams in 2024 [INFOGRAPHIC]
Some HighlightsPlanning to buy a home in 2024? Here’s what to focus on.Improve your credit score, plan for your down payment, get pre-approved, and decide what’s most important to you.Partner with a trusted real estate agent so you have expert advice on how to achieve...
Why Pre-Approval Is Your Homebuying Game Changer
If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted...
Thinking About Buying a Home? Ask Yourself These Questions
If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and...
Things To Consider If Your House Didn’t Sell
If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment. Understandably, you're probably wondering what may have gone wrong. Here are three questions to think about as you figure out what to do...
3 Keys To Hitting Your Homeownership Goals in 2024
If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.Over the last year, the economy had a big impact on the...
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The Benefits of Working With an Agent When You Sell Your House [INFOGRAPHIC]
Some HighlightsWhen it comes to selling your house, the expertise of a trusted real estate agent can make a big difference.They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and...