Monthly Archives: December 2012

Rates Thursday

As claimed by Bloomberg.com, the average 30 Year mortgage rate is 3.35 percent. This is compared to Guaranteed Rate which is consistent at 3.250% this week.

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Who’s Buying Homes?

The KCM Blog has predicated that the majority of new home-buyers will be young adults from ages of 18-34. As the graph indicates, the millennial generation has a film belief in home ownership. Let’s hope this translates to a busy 2013!

 

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Rates Thursday

According to HousingWire, mortgage rates are lowering overall. Guaranteed Rate figures remain steady at 3.250% for a 30 Year Fixed Mortgage Rate.

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Foreclosures

The sad part of the real estate business is foreclosures. But fortunately, they are decreasing, by ten percent since last month as reported by the Chicago Tribune. Nearly 11,000 homes in total were foreclosed upon this past November.

MLS Monday

Average sale price in Elmhurst, Illinois has risen 2.4% since December 2011. Great news for interested buyers and sellers!

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MLS Monday

The amount of new listings in Elmhurst has lowered by eight percent. Total new listings in Elmhurst this past year number 935.

 

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Saturday Catch Up

Why are prices getting higher? Chicago Agent Magazine has some thoughts on why. The main reason is the supply of houses last year was high. With less on the market, the demand is continuing to grow. We are seeing huge jumps in closings and homes under contract. Also mortgage rates are becoming gradually affordable. Buyers and sellers, don’t get downcast about not getting that “special price,” keep going!

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