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March
6

Selling your home is an important journey, and we're here to guide you every step of the way. With our experience and knowledge of the real estate market, we will help you avoid common pitfalls and ensure a smooth, successful sale.

Here's how we can assist you:

Understanding the Real Estate Market

  1. Market Analysis: We will provide you with a comprehensive market analysis to help you understand current trends in your area. Together, we'll determine if it's a buyer's or seller's market, which will inform our pricing strategy.
  1. Timi...

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August
5


Divorce can be a challenging and emotional process, and selling a home during this time adds another layer of complexity. As you navigate this transition, it's important to consider several factors to ensure a smooth and fair process. Here are some key considerations:

Legal and Financial Considerations

Property Ownership and Division**: Determine who owns the property and how it will be divided. This often depends on whether the home is considered marital or separate property. Consulting with a lawyer can help clarify these details.

Mortgage Responsibility**: Identify who is responsible for the mortgage payments during the divorce process. It's crucial to keep payments up to date to avoid damaging credit scores.

Tax Implications**: Understand the tax consequences of selling your home, including capital gains tax and potential exemptions. Consulting with a tax professional can help you navigate these complexities.

Equity a...

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July
11

In Illinois, the recent developments in the NAR (National Association of REALTORS®) lawsuit include significant changes to the real estate industry, particularly concerning the buyer's agent commissions. A notable aspect of the settlement is that it will eliminate the requirement for listing brokers to offer compensation to buyer brokers through the MLS (Multiple Listing Service). This means that starting August 17, 2024, buyer's agent commissions will no longer be included in MLS listings, and written buyer's agent agreements will be required.

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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