Real Estate Market

May Real Estate Newsletter

Hinsdale Ranked #1 Town To Live In

West Suburban Living magazine has just ranked Hinsdale IL as the top town to live in. Factors this decision were based on include: highest average house value (just under $1,000,000); highest score on the ACT test; low crime rate and an impressive downtown.

Clarendon Hills was ranked as #2.

I Need Houses To Sell

I need houses to sell. So far this year, my team and I have sold 56 houses. That is one every 2.2 days. Just yesterday, a home that we had put on market in Western Springs on Monday, sold in a quadruple offer yesterday. That is right. Four offers on one house in less than three days on market.

The under $1,300,000 price point is moving the fastest. If you have a home worth less than $1,300,000 and you have an interest in selling it, this may be an opportune time for you. Call me. 630-455-8455.

 

After Doing A Short Sale, When Can I Buy?

When in financial distress, it is better to short sale out of it than to go into foreclosure. In addition to having less detrimental impact on your credit score, after going through a short sale, the time frame to buy again is shorter.

While the rules are different for loans under the guidelines of FHA, VA and Freddie Mac, the Fannie Mae guidelines say that you must wait 7 years to buy after going through a foreclosure, whereas, it is a two year time frame under a short sale (presuming that you put down at least 20%).