Selling a house can be expensive, complex and time-consuming, so it’s a huge relief to everyone involved when a deal is struck and a contract is signed. But what if the seller signs the purchase and sale agreement, then wants to cancel the deal? Is it legal? And what are the buyer’s options in that case? Let’s look more closely at when and how home sellers can back out of a contract. Is a...
When it comes to selling homes, the price is very often the “hot topic” whether you are the seller or buyer. The process involved in determining the appropriate listing price isn’t always what one might think, though. In fact, it ultimately comes down to a position within the existing competition. Let’s take a moment to delve into some common misconceptions about pricing… Overpricing isn’t...
By now you know that 2022 was no walk in the park for the real estate market. Rising mortgage rates, falling stocks and high inflation gave buyers and sellers the blues and brought the doom-and-gloomers out of the woodwork. But the housing bears may be a little too downbeat heading into 2023 given a number of factors supporting conditions for a decent market, if not a good one. It may not feel as euphoric...
History often repeats itself — but when it comes to the current housing market, don't hold your breath. If you were a homebuyer in the mid-2000s, today's hot market might look eerily familiar. Like many of your fellow Americans, you might be wondering when this housing cycle will come to a close and bring prices back down to earth. It won't be that simple this time around. That's because the US...
NOTES: Median sale prices are for 2021. For Chicago neighborhoods, the data is for townhouses and condos in the encompassing community area. SOURCE: Midwest Real Estate Data $372,000 (sold), 6438 S. Woodlawn Ave., 3 bedrooms, 1,750 sq. ft.Photograph: Vis Home South Side WOODLAWN Median sale price: $235,500 Five-year change: 188% Bordered by Washington Park and the Midway Plaisance to the north...
At a time with no live sporting events to speak of, sports fans have slaked their collective thirst with a documentary series. Which sounds strange, but so is life in 2020. ESPN's "The Last Dance" chronicles the story of the 1997-98 Chicago Bulls, a championship team on the precipice of splitting up while attempting to capture one last NBA title. Ratings for the first two episodes of the 10-part show...
What are the best questions to ask a mortgage lender before you lock in a home loan? If you want to find the very best mortgage for your needs, it pays to not automatically go with the very first lender you see. “You need to shop around to make sure you’re getting the best interest rate and loan terms,” says Peggy Yee, supervising broker at Frankly Realtors, in Vienna, VA, who recommends that home...