Allana Goldberg - Real Estate Broker

Allana Goldberg - Real Estate Broker Core Realty & Investments

02/02/2019

What every home buyer needs to know.

Shopping for a home can be overwhelming, so before you start touring properties, make sure you’ve done these four things and you’ll be ahead of the game.

1. Visualize your dream house.

It’s fun to browse online real-estate sites, but some practical and realistic decisions must be made. What are truly your needs and what are the wishes? Are amenities such as parks, schools and proximity to transit important to you? Are you handy enough to rehabilitate your own fixer-upper, or do you even have the budget for renovations?

2. Yes, you need a real estate broker/agent.

Your broker will play a few roles in your first home purchase: coach, fixer and therapist. It’s very important to connect with an agent who not only helps to guide the process but also truly understands what’s best for your budget and needs. Good brokers could help line up other key players, such as a home inspector, mortgage lender or lawyer.

3. Get your finances in order.

It is important that you don’t make any big financial changes at least three to four months before shopping for a home, including opening new lines of credit, making large deposits or withdrawals and changing jobs.

4. Prepare to be surprised.

There are a lot of moving parts and unknown variables during the home-buying process, so expect the unexpected. For example, in the competitive spring and summer markets, anticipate stressful multiple-offer situations. If red flags surface in the course of underwriting, have all your records handy for bank review.

A house is one of the biggest purchases many of us will make—good luck!

4 Reasons To Sell This Summer.
07/05/2018

4 Reasons To Sell This Summer.

07/17/2017

3 questions to help determine if now is a good time to buy a home.

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.
Ask yourself the following

1. Why am I buying a home in the first place?
This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.
For example, a survey by Braun showed that over 75% of parents say, “their child’s education is an important part of the search for a new home.”
This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:
• A good place to raise children and for them to get a good education
• A place where you and your family feel safe
• More space for you and your family
• Control of that space
What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.
2. Where are home values headed?
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in May (the latest data available) was $252,800, which is up 5.8% from last year. This increase also marks the 63rd consecutive month with year-over-year gains.
If we look at home prices year over year, CoreLogic is forecasting an increase of 5.3% over the next twelve months. In other words, a home that costs you $250,000 today will cost you an additional $13,250 if you wait until next year to buy it.
What does that mean to you?
Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.
3. Where are mortgage interest rates headed?
A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.
The Mortgage Bankers Association (MBA), NAR, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months.

Bottom Line
Contact me and I'll help you to determine if this is the right time for you to buy a home and which price range you should consider for your home.

06/29/2017

Are You Still Unsure if Now Is a Good Time to Sell?

The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, “if now is a good time to buy or sell a home, the perception of home price changes, perceived ability to qualify for a mortgage, and [an] outlook on the U.S. economy.” The survey revealed that 75% of homeowners think now is a good time to sell, compared to 70% last quarter. This is a considerable increase from more than a year ago when 66% agreed.

Even though homeowners believe that now is a good time to sell, many have not taken the step to list their homes, as inventory shortages still exist across the country. Lawrence Yun, NAR’s Chief Economist, had this to say:

"There are just not enough homeowners deciding to sell because they’re either content where they are, holding off until they build more equity, or hesitant seeing as it will be difficult to find an affordable home to buy... As a result, inventory conditions have worsened and are restricting sales from breaking out while contributing to price appreciation that remains far above income growth.”

If you are wondering if now is a good time to sell your home, don't hesitate to contact me and I'll provide you with the free of charge market analysis of your property!

12/22/2016

The Fed Raised Rates: What Does that Mean for Housing?

You may have heard that the Federal Reserve raised rates last week... But what does that mean if you are looking to buy a home in the near future? Many in the housing industry have predicted that the Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, would vote to raise the federal fund's target rate at their December meeting. For only the second time in a decade, this is exactly what happened. There were many factors that contributed to the 0.25 point increase (from 0.50 to 0.75), but many are pointing to the latest jobs report and low unemployment rate (4.6%) as the main reason. Tim Manni, Mortgage Expert at Nerd Wallet, had this to say,
"Homebuyers shouldn't be particularly concerned with [last week's] Fed move. Even with rates hovering over 4 percent, they're still historically low. Most market observers are expecting a gradual rise in home loan rates in the near term, anticipating mortgage rates to stay under 5 percent through 2017."
Bottom Line
Only time will tell what the long-term impact of the rate hike will be, but in the short term, there should be no reason for alarm.

08/29/2016

Don't Get Caught in the Rental Trap!

There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.

Don't Become Trapped!

Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a "Rental Affordability Crisis." He warns that,

"Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they'll outpace home price appreciation in the year ahead."

In the Joint Center for Housing Studies at Harvard University's 2015 Report on Rental Housing, they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.

It's Cheaper to Buy Than Rent!

This (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home." "While more than 85% of markets have burdensome rents today, it's perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren't those unhappy renters choosing to buy?"

Know Your Options.

Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream home. As we have reported before, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough!

Bottom Line.

Don't get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Have a professional help you determine if you are eligible to get a mortgage.

________________________________________

Contact me and I'll help you to find your dream home!

Address

Northbrook, IL
60062

Telephone

+12248057649

Website

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