Buyers Market Update

Are you looking to buy? If so, you are most likely shopping interest rates and home loan products in your local market. Maybe you’ve noticed that interest rates have fallen below 6% in some markets and that, my friends could signal a solid buyers market. By the same token, this economic climate may motivate some homeowners to sell their current home and upgrade to a new one.

For your convenience, I’ve added Bank Rate charts to this blog on the right sidebar. That will give you a glimpse at mortgage rates from a top resource. You should know that rates posted by services such as Bank Rate are geared toward consumers with high credit scores and low debt. However, you certainly can use these numbers as a benchmark. Check with your local lender for the best loan products available for your individual situation and location.

Northern Illinois Property Search

Are you relocating to Northern Illinois? Great, you've come to the right place. We understand how daunting a task relocation can be and we here at Heldt Realty want to make it an easy transition for you. We'll start by giving you access to current real estate data right here, right now. The Multiple Listing Service of Northern Illinois is the most comprehensive resource available for residential and commercial properties. Please take advantage of this valuable resource and contact us through our website at http://www.heldtrealty.com. As your dedicated "buyers agents", we can assist you in every aspect of your new home purchase.

Exclusive On-Call Real Estate Consulting

Heldt Realty's exclusive On-Call Consulting Program enables real estate buyers and sellers to pursue their own real estate endeavors while also providing them a professional “on-call" real estate expert. This ala carte service-based approach provides real estate solutions in “real time” for answers you may need right now. If for example, you have an urgent need to solve a real estate problem, we can evaluate the situation and begin the solution process immediately for you.

Individual Heldt Realty Agents are members of the National Association of Real Estate Consultants (NAREC) and hold the Consumer-Certified Real Estate Consultant (C-CREC) Certification. We stand ready to assist you in your real estate endeavors.

Please visit the Heldt Realty Consulting page for more information.

Mortgage Rates Keeping a Low Profile

A low profile as in low rates, that is. Experts say that the economy is slowing and that should keep mortgage rates down. Economic indicators are a good measure to gage these numbers. I recommend keeping an eye on the current state of the economy and there related mortgage rate benchmarks. If for example, the economy can avoid slipping into a recession this year, mortgage rates could actually rise slightly over that period of time.

We'll keep a watch on it for you here at Chicagoland Homes. For a quick reference, head on over to the sidebar of this blog for current mortgage headlines and rates.

Coping with a Lender's Rejection

This is a story about a young married couple; Dave and Ann. Like many young couples, they were excited about buying their first home, but their excitement soon turned to disappointment when their request for a loan was rejected by their lender.

The first thing they did was inquire why this happened, what the lender didn't like, and what they could do to remedy the situation. Dian Hymer, in her book, "Starting Out, The Complete Buyer's Guide", writes that often a simple letter of explanation to the lender is all it takes to get a problem loan approved. For example, if you were unable to work for several weeks due to an accident, a letter explaining why your credit report showed late payments would probably result in a loan approval.

Remember that adverse credit information is not supposed to be reported or included on your credit report after seven years. An exception to the seven-year rule is bankruptcy information, which can be reported for ten years. Lenders will want to see court-approved papers that confirm your past creditors are satisfied with your debt-restructuring. Lenders will also want to see that you have re-established credit and that you are making your payments on time.

As a real estate pro, I will be happy to work with your lender to ensure your loan will be approved on time for closing. Call me anytime.

Welcome to the Chicagoland Homes Blog

Hello and welcome to my blog! I call it "Chicagoland Homes" because it's the primary market I work in. However, don't that scare you away if in fact, you've stumbled upon this site purely out of an interest in real estate. I actually love this business and will dedicate myself to answering any and all questions on the subject. So go ahead, ask away!

A little about me; I'm a real estate broker (not all agents are brokers) and I like to think that I bring quite a bit more savvy to the business. Maybe it's because I've spent almost an entire lifetime around it. You should know that I grew up in a family of property managers and my father also was an attorney and REALTOR so, I learned this business at an early age. If you ever hear me say; "Real estate is my life." Well, that's only because it's true.

Thanks for visiting and looking forward to many discussions.