Posts with tag 'buyers agent'
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How Much Is My Home Worth?
Understanding your home's value is crucial, whether you're considering selling or simply curious. Several methods can help determine an accurate valuation.
Comparative Market Analysis (CMA):
A CMA evaluates your home against similar properties that have recently sold in your area, considering factors like size, location, and condition.
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Is 2025 a Good Time to Buy a Home?
Is 2025 a Good Time to Buy a Home?
Through 2025, many prospective homebuyers are questioning the timing of their purchase. With interest rates stabilizing after previous volatility, the market presents both opportunities and challenges.
Current Market Trends:
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Interest Rates:
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Baby Boomers Take the Lead as the Biggest Group of Home Buyers
A new report shows that baby boomers are now the biggest group of home buyers in the U.S. This information comes from the National Association of Realtors® (NAR).
According to the NAR's 2025 Home Buyers and Sellers Generational Trends report, baby boomers aged 60 to 78 made up 42% of all home buyers last year. In comparison, millennials dropped to 29% from 38% the year before. Generation X buyers, who are aged 45 to 59, stayed the same at 24%.
Jessica Lautz, the NAR's deputy chief economist, said, "It's surprising that baby boomers have passed millennials to become the top home buyers. Many of them are buying homes with cash instead of loans."
Older buyers are more likely to pay with cash, while younger buyers often need loans and help from family. Over 90% of buyers aged 44 and younger financed their homes. Some younger millennials (ages 26-34) and older millennials (ages 35-44) said they received money from relatives for their down payments.
The re...
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NAR Realtor Lawsuit Update
Midwest Real Estate Data (MRED), a major MLS in Illinois, has announced its compliance with these changes and is updating its policies and documents accordingly. MRED will also monitor fields and third-party sites to ensure compliance with the new rules.
For more detailed information, we can be reached at 630-286-9777
Team Elite Realtors
Julia Corkey & Vickie Schoenfeld
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70 Plus things we do for our Buyers!
What do we do as Buyer agents? Here is a list of what we can do for our buyers:
Consultative Activities
1. Conduct a thorough needs assessment to understand your requirements.
2. Explain agency laws and present the buyer representation agreement.
3. Clarify how broker compensation is paid, who pays it, and your options for covering it.
4. Understand your budget and financial needs.
5. Assist you in examining how much you can afford to spend and why.
6. Introduce you to a trusted mortgage loan officer for financial services and/or a second opinion.
7. Connect you with a trusted title services attorney partner.
8. Set you up with accounts on tools and technology needed for a successful home search.
Preparing for the Home Search
9. Explain the general timeline for house hunting, mortgage approval, and closing.
10. Provide insights into local market conditions and how they impact your leverage/position.
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