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Real Estate

Broken Promises: What Constitutes a Breach of Contract in Real Estate?

A breach of contract occurs when one or both parties fail to perform a necessary term of the contract, such as payment or provision of services. Contracts are binding agreements which describe the reciprocal duties each party to the contract must perform. Enforceable contracts can be verbal or … [...]

Alternative Loan Options for Your Fixer-Upper

Fannie Mae and Freddie Mac offer alternative loan options to fund major renovations or even the purchase of a fixer-upper. The Fannie Mae Homestyle loan allows families to borrow based on the improved value of the home. The Freddie Mac Choice Renovation loan will enable buyers to both (1) purchase a … [...]

What You Should Know About the FHA 203K Loan

The FHA 203K loan is a type of loan used to refurbish or refinance a home. Further, FHA 203K loans are earmarked for those living “primary residences,” so they are specifically useful for families who want to rehabilitate their current home. These loans allow regular people and investors to fix up … [...]

Chicago’s Real Estate Market Is Sizzling Hot

The Chicago, real estate market had its most productive month in over a decade in April of this year. According to data from Zillow and Pulsenomics, there were more Chicago home sales in April than in any other month since 2005. The combination of higher savings from the economic shutdown and work … [...]

How to Sell Your House When the Market Is Slow

Selling a home in a buyer’s market (i.e., a slow market) is more complicated, but it is possible. Sellers can remodel and repair their home to update it for the modern buyer. Sellers can also work with a reputable real estate agency to stage the home and photograph it attractively for buyers. These … [...]

Is Your New House Making You Sick?

Recent research has found that the air indoors is more polluted than outdoor air, even in the largest and most industrialized cities. Indoor air pollution poses a serious health risk to families and young children. However, families aren’t left with the unenviable choice of abandoning their homes … [...]

How Will the American Rescue Plan Impact Real Estate in Chicago?

The American Rescue Plan is an approximately $1.9 trillion stimulus plan to reinvigorate the economy after it was shut down for most of 2020. The bill contains billions of dollars in direct payments, job training, support to state and local governments, small business grants, rental assistance, and … [...]

What Zillow’s Acquisition of ShowingTime Could Mean for the Chicago Real Estate Market

Real estate agents in Chicago and throughout North America have voiced concerns that Zillow will use the data it collects from ShowingTime to promote its services and edge out independent agents and brokers. Earlier this year, Zillow announced that it was acquiring ShowingTime. ShowingTime is an … [...]

The Housing Market Great Divide

The pandemic is furthering the divide between luxury homeowners who experienced a boom in equity accumulation and lower- and middle-income families struggling to purchase their first home. Sales of high-priced and luxury homes (priced above $750,000 and $1M) respectively increased by 85% and 88% … [...]

Home Sellers In Chicago Are Reaping Record Profits

In 2020, home prices climbed to record highs as upper-middle-class and wealthy families went on a buying spree thanks to the climbing stock market and remote work. Millions of wealthier families moved to larger homes with more space and better conditions for remote work. According to the National … [...]