Patricia Bakosh BHHS Chicago

Patricia Bakosh BHHS Chicago Real Estate Services. Selling your home, wanting top $$? Looking for your next home? Call Patricia

09/25/2026

Homebuyers Stay Engaged Despite Higher Mortgage Rates
We’re seeing the impact of higher mortgage rates on the new-home market—mortgage applications for new homes are down 5.7% compared to last year, and have dipped 1% since June. Sales are currently at a 647,000 annual rate, which is a 3% decrease. Increased inventory and those rising rates are making buyers pause, and the average loan size has dropped to $374,438. As someone who guides both first-time buyers and sellers, I’m always watching these shifts to help you navigate what they mean for your move or your sale.

09/23/2026

Regulation Adds $132K to New Homes | Patricia Bakosh, a real estate agent in Downers Grove, has impeccable knowledge and innovation in buying and selling a house.
Many buyers are surprised to learn that government regulations add about $132,000 to the average new US home—even before anyone steps inside. As someone who guides first-time buyers and sellers through every step, I see firsthand how these costs shape the market. From code updates and permits to impact charges, utility hookups, and project delays, each layer can mean a higher price tag long before a home is ready to list. In fact, code changes alone add around $40,000, and newer energy requirements can tack on another $9,600 to $21,400—costs that often take decades to recoup. Over 90% of developers are dealing with delays that stretch an average of 7 months, with more than a year between zoning applications and breaking ground. When we talk about the tight supply—remember, we're short about 1.2 million homes nationwide—these rule-driven costs make it harder for builders to lower prices. That’s why understanding the bigger picture is key, whether you’re preparing to sell or stepping into the market for the first time.

Have payments on newly purchased homes in the U.S. dropped?If you’re keeping an eye on home affordability, here’s the la...
09/22/2026

Have payments on newly purchased homes in the U.S. dropped?
If you’re keeping an eye on home affordability, here’s the latest: the national median mortgage payment for new homebuyers has dipped to $2,175. While that’s a step down, it’s still 2.2% higher than this time last year, with average mortgage rates resting at 6.66%. For those considering their options, Idaho and Nevada currently top the list as the least affordable states, while Louisiana and North Dakota offer the most approachable price points. As someone who guides both first-time buyers and sellers through these changing dynamics, I know how these trends can impact your next move.


https://www.roomvu.com/agent-news/patricia-bakosh-2188637/1959495-Have-payments-on-newly-purchased-homes-in-the-U.S.-dropped%3F

09/17/2026

US Mortgage Applications Stall | Patricia Bakosh, a real estate agent in Downers Grove, has impeccable knowledge and innovation in buying and selling a house.
Mortgage application activity across the US has remained steady, with rates holding near 7%—leaving both buyers and refinancers waiting for stronger incentives before making a move. Purchase applications dropped 2% seasonally adjusted (3% unadjusted), showing how affordability and market uncertainty are causing many buyers to pause their plans. On the refinance side, there was a slight uptick (2%), but with the refinance share still hovering around 42%, it’s clear that most homeowners are staying put, especially those with larger loan balances. One notable detail: VA applications saw a small increase, reaching a 12.6% market share. With no expected central bank rate cuts through 2026, patience and preparation are becoming central to any move in this market. I always encourage my clients—whether you’re gearing up to buy your first home or thinking about selling—to stay informed and prepared. A well-timed decision, backed by solid guidance, can make all the difference.

09/16/2026

More Homes Hit the Market as Demand Cools | Patricia Bakosh, a real estate agent in Downers Grove, has impeccable knowledge and innovation in buying and selling a house.
We’re seeing a noticeable shift in the housing market: in the four weeks ending August 23, there was a slight uptick in new US listings (up 0.4% weekly) and total homes for sale (up 0.5%), pushing inventory to its highest level since early Q2. At the same time, pending home sales dipped by 1.1% weekly to a six-month low, as many buyers remained on the sidelines due to high housing costs—even as more homes became available nationwide. The median sale price rose 1.9% year-over-year, now over $400K, and average mortgage rates hovered near 7%, a 13-month high. For active buyers, this environment can mean more negotiating power, including opportunities for price cuts or concessions, especially when homes have been listed for several weeks. Sellers are finding that realistic, well-informed pricing strategies—rather than chasing numbers from previous years—can make a big difference in today’s market. As someone who guides both first-time buyers and sellers through every step, I’m always here to help you understand how these trends might shape your next move.

09/14/2026

Downers Grove Market Update | Patricia Bakosh, a real estate agent in Downers Grove, has impeccable knowledge and innovation in buying and selling a house.

House Prices Jump in Illinois Amid Slow Pace of New ConstructionI've been watching Illinois' housing market closely, and...
09/11/2026

House Prices Jump in Illinois Amid Slow Pace of New Construction
I've been watching Illinois' housing market closely, and the latest numbers are eye-opening: Chicago's median home price has surged 13.3% to $425,000. This jump comes as the number of available homes just isn't keeping up with demand—a common concern I hear from both sellers and first-time buyers at my seminars. New construction would need to triple to catch up, but outdated building codes, permit backlogs, and infrastructure challenges are slowing things down. There’s hope, though—new reforms are in the works to encourage more affordable middle housing. As someone who coaches clients through both selling and buying, I know how these market shifts can impact your plans. Staying informed is key to making the right move.
https://www.roomvu.com/agent-news/patricia-bakosh-2188637/1940353-House-Prices-Jump-in-Illinois-Amid-Slow-Pace-of-New-Construc

09/10/2026

Why ADUs Are a Smart Housing Investment | Patricia Bakosh, a real estate agent in Downers Grove, has impeccable knowledge and innovation in buying and selling a house.
Accessory Dwelling Units (ADUs) are becoming a practical and flexible solution for many Baton Rouge families. As someone who guides sellers and first-time buyers through the ins and outs of homeownership, I see ADUs—like backyard cottages or converted garages—not just as extra space, but as a smart way to bring generations together without sacrificing privacy. Recent zoning changes have made it simpler to add these units, opening up possibilities for affordability, shared resources, and even future rental income or caregiving arrangements. While there are still some challenges, like building costs and navigating local permits, the potential for added value and versatility is clear. It’s one more way to make your property work for your family’s needs, both now and down the road.

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5150 Main Street Unit C
Downers Grove, IL
60515

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