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The Shimmon Group at Dream Town Realty

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The Shimmon Group at Dream Town Realty

Top Producing Chicago Real Estate Team | Buy | Sell | Rent We look forward to working with you! Contact us today to get started!

The Shimmon Group, a division of Dream Town Realty, is one of Chicago’s top-producing Residential Real Estate teams. Our main goal is to provide each and every one of our clients with exceptional customer service in every aspect with their personal real estate goals – whether that’s buying, selling or renting. Your next move is one of the biggest milestones in your life and our team ensures that e

very step along the way is handled with the utmost care & professionalism. We are honored that 97% of our clients work with us again and refer us to family, friends and colleagues entrusting us with an unmatched level of service. Our clients know that their needs will not only be met but exceeded each and every time – regardless of price point. Lauren Shimmon – President & Owner | Kyle Shimmon – Partner | Buy – Sell – Invest – Rent

05/09/2024

The stat is out there: the average American buys their first home at ✨36✨

But what if your dream Home is calling to you sooner (or later)?

Life throws a lot our way, and buying a house is a big decision. Saving for a down payment, navigating the market, and feeling confident – it all takes time, and that's perfectly okay!

Here's the good news:

There's no one-size-fits-all timeline for homeownership. Whether you're starting to budget for a down payment or just curious about the process, I'm here to be your guide.

Here's what I can help you with:

• UNDERSTANDING YOUR FINANCIAL READINESS: Let's explore your budget and see what kind of home might be a good fit for you.

• FIRST-TIME HOMEBUYER PROGRAMS: There are resources available to help you with down payments and closing costs.

• FINDING THE PERFECT HOME AT THE PERFECT TIME: When you're ready to search, I'll be there to help you navigate the market and find a house that checks all your boxes.

Buying a home is a journey, not a race. Let's take it one step at a time and make your dream a reality, whenever you're ready 🏡❤️

Contact me today for a free consultation, and let's chat about your homeownership goals! 🗝️💸 .

04/30/2024

Make money while saving up for a down payment?!? 💸🏡

Yes, it's possible! And it's free, no-risk and you can withdraw the funds any time.

Here's the breakdown:

Compare keeping $50,000 in a regular checking account versus stashing it in a High-Yield Savings Account (HYSA) like SoFi, which offers an impressive 4.6% interest rate (at the time of sharing this post).

After 5 years, that $50,000 in a checking account might barely keep pace with inflation, while the same amount in a HYSA could potentially grow to over $60,000!

Plus, here's the kicker: HYSA deposits are FDIC-insured up to $250,000, so your money is safe and protected until you need it.

Don't let your money sit idly in a checking account when it could be working for you!

Drop me a message and I'll send over my favorite HYSA available today ❤️🏡

04/24/2024

Asking your lender this ONE question could save you BIG 💸

"Does my loan have a pre-payment penalty?"

Making just ONE extra payment each year can shave YEARS off your mortgage term and save you thousands in interest.

Let’s look at a client with a 30-year mortgage of $400,000 at a 6% interest rate. Without extra payments, the total interest paid over the loan term is approximately $463,353.

With ONE extra payment of $2,400 each year ($200/mo) the interest drops to $368,734, and the loan would be paid off 5 years earlier than the original term.

And the savings hitting their pocket? $94,619 over the life of the loan!

BUT Make sure to ask your lender about pre-payment penalties (penalties can be steep - often 2% of the loan balance).

Check with your lender so you can save on your timeline.

And if you need a lender recommendation, send me a message! 🏡❤️

03/26/2024

'That's a write off!' 💰🏡

It's a phrase I commonly hear thrown around. But, not so fast... it turns out not all home improvements are treated equally from a tax perspective.

Let's break it down:

1) Home Office Deduction:
To claim a deduction, you must have a dedicated and exclusive workspace. Using your dining table unfortunately doesn’t qualify here.

2) Rental Properties:
When updating rental properties, you won’t be able to deduct the renovation costs.

But, expenses like mortgage interest, property tax, operating costs, depreciation, and repairs are usually eligible deductions to take. Keep a running tally of these expenses.

3) Residential Medical Upgrades:
Expenses related to improving medical accessibility are deductible. This includes constructing entrance or exit ramps, widening doorways, installing railings or support bars, and making bathroom modifications.

4) Energy-Efficient Improvements:
Consider energy-efficient upgrades. Things like installing solar panels, solar water heaters, small wind energy turbines, geothermal heat pumps, fuel cells, and biomass fuel stoves qualify for various tax benefits.

5) Home Sellers Deduction:
If you make improvements to your home before selling it, they can increase your home's basis (purchase price + improvements), reducing capital gains and, in turn, lowering the taxes you'll owe. Keep a running spreadsheet of those improvements!

Make sure to consult with a tax pro to maximize your deductions!

Source: Which Home Improvements Are Tax Deductible?

Tips on Rental Real Estate Income, Deductions and Recordkeeping | Internal Revenue Service

03/01/2024

Is this really true?!

YES. There is a provision in the CARES Act that allows first-time buyers to get a $10,000 boost. Here's how it works...

First-time home buyers can withdraw up to $10,000 from their 401k WITHOUT the 10% penalty when buying a home.

This can help cover expenses like down payments and closing costs, bringing homeownership more easily accessible.

An interesting option but of course, consult with a financial advisor and a trusted lender to determine what’s best for your scenario!

Send this to a friend who’d find this interesting! 🏡❤️

01/24/2024

Contemplating putting your home on the market in 2024? Here's a preview of what to expect in 2024 🏡❤️:

1 – Dipping Rates. Cooling off in mid December, prepare for more favorable rates in 2024, increasing the pool of potential buyers.

2 – Increase in home prices: As new buyers enter the market, and inventory remains low, expect prices to climb further, indicating that selling will be profitable.

3 – Fierce competition: Low inventory means eager buyers. If you want top dollar, professional photography, staging, and curb appeal are non-negotiables.

4 – Optimistically cautious: many predict a strong year for the economy and the stock market, but some are more enthusiastic than others. Don’t expect a recession, but don’t expect things to go completely smoothly, says Kristina Hooper, chief global market strategist at Invesco.

Despite the challenges, selling in 2024 has the potential to yield a substantial profit. To expedite the process, work with a knowledgeable agent, price your home competitively, and consider offering concessions.

If you're navigating the complex world of home selling and need expert guidance, don't hesitate to reach out! And if you’ll drop me a comment or send me a DM, I’d love to send you my free Selling Timeline Guide that gives you a step-by-step roadmap of prepping your home for the market

Source: Should I Sell My House Now or Wait Until 2024?

01/22/2024

Wondering what the 2024 housing market might bring for homebuyers? Sharing the latest 2024 forecast 🏡❤️:

1 – Mortgage rates: While rates reached more than a two-decade high in 2023, they cooled at the end of the year. Expect them to settle between 6% and 6.5% in 2024. This is higher than pandemic levels but lower than 2023 peaks.

2 – Home sales: The number of home sales is predicted to pick up in 2024 but will still be below average due to ongoing uncertainties in the economy and the housing market.

3 – Home prices: The direction of home prices depends on market dynamics. If sellers enter the market before first-time buyers, expect a modest dip in prices early in the year. If buyers enter first, it will be a competitive market with rising prices. However, any price drop is likely to be short-lived due to low inventory levels.

4 – Inventory: Inventory will increase somewhat in 2024, but it will still be low largely due to demographic factors, such as Baby Boomers staying in their homes longer and fewer homes available for downsizing.

5 – Renting: Chicago apartment dwellers likely will see rent increases in 2024, according to a new national forecast. The Chicago market is falling behind is available supply, pushing expected rent prices higher than 2023. For that reason, the short term cost of the higher interest rates could outweigh the cost of renting.

Thinking about buying this year? Send me a message, and I’ll send you my Buying Guide. It lays out what you can realistically expect when you're ready to take the leap!

Source: Here's what you can expect from the 2024 housing market - HousingWire

01/10/2024

This year was an incredible one, and it’s all because of clients, friends, and followers like you! 🏡❤️

Today, I'm excited to share a few handpicked moments that give you a peek into why my spirits are sky-high. Swipe left to see my 2023 recap!

11/14/2023

Your Home is more than four walls!

It's a treasure trove of opportunity and a tool for getting you where you want to be 💸🏡

FACT: U.S. homeowners have an average of $274,000 in equity — equity that could be working for you in one of these three ways:

1. RENOVATE & RENEW: Has your kitchen been begging for an upgrade? Or does your living room need a modern twist? Your equity can fund those long-awaited renovations.

2. MOVE UP WITHOUT SELLING OUT: Found your Dream Home but don't want to say goodbye to your current property? That equity can become your down payment for your new Dream Home without parting ways with your current one. Plus, you can rent out your current home for an additional income stream.

3. LONG-TERM INVESTING: Whether it's starting a business, funding your or your child’s education, or venturing into the world of investments, your Home's equity is a potent resource.

Ready to make your equity work as hard as you do? I’d love to talk about your options and map out a strategy that fits your goals. Just reach out and let's get started! 🏡❤️

Source: Homeowner Equity Insights – Q1 2023 | CoreLogic®

10/20/2023

Every real estate success story starts with this:

HIGH-QUALITY LISTING PHOTOS 🏡📸

Don't just take my word for it, the proof is in the numbers.

Listings with professional photos sell for 47% MORE per square foot. Not to mention, they sell faster. Now add higher quality pictures to the mix, and the numbers only get better.

Listings with one photo spend an average of 70 days on the market, while listings with at least 20 high-quality images sell within 1 month....or less.

For those ready to make a move, investing in top-tier photos isn't just wise – it's essential.

Reach out if you need help tracking down the right photographer or if you’d like to get your hands on my Home Photoshoot Checklist. It’ll guide you step-by-step to prepping your home for the camera — and a quick sell!

Drop a comment below or DM me, and I’ll send it over. 🏡❤️💸

Source: https://www.photoup.net/learn/real-estate-photography-statistics #:~:text=Homes%20with%20a%20single%20photo,asking%20prices%20per%20square%20foot

10/03/2023

Think you're ready to move or buy this Fall but can't get past the Debbie Downers? 🏡😵‍💫

It's time to lay to rest the tired, old rumors about the current market so you can move with confidence this October.

Myth #1: Owners have low rates and will never sell.
FACT: While it's true that many homeowners locked in low rates several years ago, life happens, and people will always need to sell their homes.
Families grow. Empty nesters downsize. People relocate. Retirement draws near. And many of them have homes to sell.

Myth #2: As rates rise, prices will drop.
FACT: While we've all wished for interest rates to soften home prices, there’s another challenge driving up home prices — limited inventory.
High demand + scarcity of supply will always keep prices competitive.

Myth #3: The housing market will crash like in 2008.
FACT: The 2008 crash was fueled by faulty mortgages and buyers taking on more than they could afford. Thankfully, things have changed — a lot.

Lenders are much stricter today than they used to be. Plus, the average homeowner has more than $274,000 equity in their homes, giving them financial peace of mind when buying. It’s a different era, friends!

Housing myths come and go, but buying a home that meets your needs when your family needs it is priceless. If you’re ready to explore what it would take, reach out — I’m here to help however I can! 🏡❤️💸

Source: Homeowner Equity Data And Statistics | Bankrate.

08/29/2023

Buying your First Home can feel like a tug of war between your dream wishlist and your budget constraints.

The good news is “No” today isn’t “No” forever.

Let me explain...

Meet my friend Amanda. She purchased a home a few years back, buying a 2/1 in a growing neighborhood. As life moved forward, so did her dreams and her budget.

So, she sold that place and used her profits to level up to her next home. And guess what? She's planning to do it all again.

The moral is this: Your first home is exactly that — a first home.

And while it might not check every box, it's the foundation that leads you toward where you want to be in 5, 10, or 15 years.

Not to mention that along the way, you’ll enjoy the peace of mind that comes with having home equity, giving you options if you want to refinance when rates drop or take cash out for big-ticket purchases.

What’s more, when the time is right for you to sell, you’ll likely reap even more financial rewards.

Right now, owners who purchased their homes 3-6 years ago are seeing a 22.1% appreciation in their home’s value. Those who purchased 7-10 years ago are enjoying an even bigger percentage jump — 46.6%.

So if you keep thinking about buying your first home but over and over again get cold feet because it feels too hard or too complicated or too out of reach, you can move forward.

All you need to do today is comment below, and I’ll send you my FREE Let’s Find Home: Buyer Guide.

It will lay out in detail the buying process. Plus, it contains helpful assessments that will help you know if you’re ready to buy and tips to get you ready for the best part of real estate — the showings!

Source: Home Value Appreciation: Homeowner Expectations Vs. Reality

Address

1950 N Sedgwick
Chicago, IL
60614

Opening Hours

Monday	9am - 7pm
Tuesday	9am - 7pm
Wednesday	9am - 7pm
Thursday	9am - 7pm
Friday	9am - 7pm
Saturday	9am - 7pm
Sunday	9am - 7pm

Telephone

+13128602346

Website

http://www.TheShimmonGroup.com/

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