Fournier Law Blog

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.

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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.

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.

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

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

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.

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

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

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.

If you’ve done everything you can think of, but your property
listing still isn’t attracting offers, Stacie Staub, guest
contributor for Inman News, may have the marketing boost your listing
needs. As a broker associate and the Director of Marketing for LIVE
Urban Real Estate, Staub has helped real estate agents bring new life
to stale listings with her innovative ideas. In her latest article, she
shares 16 of her best tricks of the trade including listing the
property as a sale/possible lease to attract a wider audience that may
end up loving the property so much they buy it anyway.

Read the entire article
for more marketing tips.

Image credit: crazygabe