Housing Forecast for 2015.

Considering the fact, that home prices in 20 U.S. cities rose at a slower pace in the year ended in March as the housing market began to weaken at the start of 2014, we can’t help to ask about the prognosis and the recovery.The housing demand is slower due to higher mortgage rates and tighter requirements in a mortgage approval process-http://www.bloomberg.com/news/2014-05-27/home-prices-in-20-u-s-cities-in…
Another reason as Lawrence Yun, NAR chief economist, points out is that the U.S. population has been growing steadily, but job creation has not-http://www.realtor.org/news-releases/2014/05/forecast-for-housing-and-th…

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Good News for Chicagoland.

Things are starting to slowly improve for Illinois-http://www.illinoisrealtor.org/node/3559
The home prices continued an upward trend with April marking 20 consecutive months of year-over-year gains. However, not enough supply continued to affect home sales, which decreased 7.8 percent over previous-year numbers.
Illinois median home prices increase 7.6 percent in April.33 of 102 counties in Illinois showed annual home sales increases in April 2014 and our Cook County was up 11.3 percent.The city of Chicago saw a 7.6 percent year-over-year home sales decline in April 2014 but the median price rose to $250,000 versus $223,250 in April 2013, an annual increase of 12.0 percent.

A Retirement Experiment: Sell House, Pack Passport, Keep Moving…

Certainly not your average,not every day and not for every one.Experiment that required Tim and Lynne Martin simply to sell their house and rent apartments while traveling the world-http://www.bloomberg.com/news/2014-05-19/a-retirement-experiment-sell-ho…
No matter what continent or country they are exploring,they stick to the same,as they would owning a house,monthly budget.Significant downsizing is an understatement-Tim and Lynne went from 2500 square foot home to a 10 by 15 foot storage space.
Both of them also talk about a surprising growing trend among older people-they rent their houses out and go. It’s all part of a home-free movement if you will.

5 Things to Consider When Buying a Rental Property

Did you know that there are currently more than 22 million landlords in the United States?
According to the Rental Protection Agency, more than 500 people become new landlords every day in this country.If you are considering joining them,Meg Stefanac has 5 questions for you to answer before buying a rental property-https://www.trustedchoice.com/insurance-articles/home-family/buying-hous…
These five factors cover basis and are worth to be taken into consideration before buying an investment property.That way,as the author states,you can increase your odds of success.
Among the expected are: location,type of property,maintenance and handling deadbeat renters and other problems, which unfortunately you may experience.
As a property management company we have a solution to that: let us help you-we do it for living.It is stressful enough to choose your investment, let us make it work for you.

What Are We Building in America

I am sure that almost everyone lately drove by a construction site,seeing the foundation and beginning of the wall structure.I am also almost sure we rarely ask ourselves: what are they building?
CNBC’s Diana Olick points out it is most likely multifamily apartment building-http://www.cnbc.com/id/101680005
A monthly report from the U.S. Census Bureau showed total housing starts up 13 percent, but that was driven by a 43 percent monthly jump in buildings with five or more units. Single family housing- just under 1 percent for the month.
Considering the latest trends in real estate,declining rate of home owners and demand for rental units it is not surprising to see that.
Will the fact,that mortgage rates have fallen to their lowest level in 6 months and the average rate on the 30-year fixed conforming loan, change the game?