divider

Fournier Law Blog

Intelligent legal insight from our team of experienced attorneys.

separator


Chicago Ranks Among Top 10 Markets to Experience Double-Digit Decrease in Housing Inventory

/ 0 Comments

With a 22.8% decrease in home listings since September 2013, Chicago is among 33 markets that have significantly fewer homes available for sale. This finding, which is based on the September National Housing Trend Report released this month by realtor.com, may signal a need for new home construction in the Chicagoland area to help alleviate the inventory shortage and give sellers more housing options. Other cities experiencing a similar crunch in housing inventory include Las Vegas, San Jose, Cincinnati, and Columbus, Ohio while some markets like Honolulu, Orlando, Miami, and Charleston, West Virginia are seeing a double-digit growth in inventory.

Read the full article.

Image credit: pagedooley

 

Learn More
separator


Can a Tablet Boost Your Real Estate Sales?

/ 0 Comments

If you’ve been looking for a legitimate reason to splurge on an iPad or Surface Pro 3, a new article published by RealtorMag suggests the purchase is less of a luxury than you might think. In fact, for on-the-go real estate agents, a tablet is becoming an essential tool of the trade that more than pays for itself in increased productivity. Whether you use it to pull up detailed property listings for clients on the spot or to help navigate your way to meetings in the field, a tablet is the next best thing to carrying your desktop computer around with you.

Read the entire article here.

Image credit: intelfreepress

 

 

Learn More
separator


Chicago Delinquency Rate Falls to Lowest Level Since 2007

/ 0 Comments

Chicago’s mortgage delinquency rate for commercial properties has shrunk to a record low for the first time since 2007. See what’s behind the drop.

Learn More
separator


CFPB Delays Mortgage Disclosure Rule until Oct. 1

/ 0 Comments

The Consumer Financial Protection Bureau has announced a two-month delay in the effective date for the TILA-RESPA Integrated Disclosure rule. Instead of taking effect on August 1st as planned, the impending rule—which requires two new disclosure forms, the Loan Estimate and Closing Disclosure—will not roll out until October 1st of this year. CFPB Director Richard Cordray released a statement on Wednesday saying, “We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks.” The new disclosure forms are expected to give homebuyers more time to review and understand the cost of their home mortgage.

To learn more, read the entire article.

Image credit: ClkerFreeVectorImages

 

Learn More
separator


Boomerang Buyers Look to Re-Enter Housing Market

/ 0 Comments

Boomerang buyers are putting the recession behind them and looking to rejoin the housing market this year. See which cities interest them most.

Learn More
separator


Blackstone Buying Homes in Chicagoland Area

/ 0 Comments

You may have noticed that homes in your neighborhood were being purchased at an increased rate.  If so, Blackstone Group may be moving into your neighborhood.  This investment firm has been buying distressed homes in neighborhoods throughout the Chicagoland area and then renting those homes.  More than 1,300 homes in Cook County were purchased by Blackstone last year.  Initially thought of as a great investment in the area, some are rethinking their initial views of Blackstone’s interest in our neighborhoods.

For more and a list of the neighborhoods that seem to be of interest to Blackstone read, “Is Blackstone buying homes in your neighborhood?”

Image credit:  Anne Rossley

 

 

Learn More
separator


BBVA Compass Announces Zero-Percent Down Mortgage Loans

/ 0 Comments

BBVA Compass brings no-money-down mortgages back for low-wage income earners. Is this a move in the right direction for the housing industry? Comment below.

Learn More
separator


Are You Ready for a Wave of Boomerang Buyers?

/ 0 Comments

Short sales and foreclosures forced them out of their homes during the housing crisis, but industry reports say nearly half of those 7.5 million Americans will make their way back to homeownership over the next several years. In fact, as many as 500,000 are expected to do so in 2015. Are you ready to cater to these “boomerang” buyers who will likely approach home buying with more caution than typical buyers? According to Marc Gould, vice president of business specialties for the National Association of REALTORS®, this group will require special attention. In a new article for RISMedia, he advises agents to start assembling a strong support team of real estate attorneys, mortgage brokers, and inspectors that can help this more cautious group feel confident in their purchasing decision.

To learn more, read the entire article.

Image credit: Nan Palmero

 

Learn More
separator


Apartment Investors Capitalize on Hot Seller’s Market

/ 0 Comments

Apartment investors that scooped up multifamily real estate at a bargain during the recession are cashing in on their investments. According to a recent article published by commercial real estate leader CoStar, a number of private owners and REITS have netted gains since January 2015, in large part due to the sale of their multifamily properties. Luis Mejia, CoStar’s director of U.S. research, explains why now is such a good time for apartment investors to sell. “With the possibility of interest rates increasing, which could eventually push cap rates up, and the potentially negative effect of supply on prices, a number of investors see selling as a viable portfolio strategy,” he said.

To learn more, read the entire article.

Image credit: Rob Young

 

Learn More
separator


America’s Top 10 Most-Searched Neighborhoods in 2014

/ 0 Comments

One Chicago ZIP code made Realtor.com’s top 10 list of America’s most-searched neighborhoods in 2014. Tell us below which one you think it is.

Learn More
separator