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Chicagoland Home Sales Fall Short of National Trend

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Home sales in the Chicago area are not enjoying the same positive sales trend as other markets around the country. Last month, home sales on a national level increased by 2.2 percent year-over-year according to the latest Redfin report. However, in Chicagoland, sales actually took a dive 3.5 percent during the same period. An article in the Chicago Business Journal seeks to understand the reasons behind the negative trend. One possible cause offered by Redfin real estate agent David Yocum is the weather. He says during February and March of this year, when he is typically busy, Chicago home sales were slow due to unusually bad weather.

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for other reasons behind the trend.

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

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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.

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Can a Tablet Boost Your Real Estate Sales?

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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.

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Are You Ready for a Wave of Boomerang Buyers?

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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.

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Apartment Investors Capitalize on Hot Seller’s Market

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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.

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America’s Top 10 Most-Searched Neighborhoods in 2014

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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.

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Chicago Delinquency Rate Falls to Lowest Level Since 2007

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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.

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CFPB Delays Mortgage Disclosure Rule until Oct. 1

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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.

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Boomerang Buyers Look to Re-Enter Housing Market

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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.

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16 Ways to Revive Your Stagnant Property Listing

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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.

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for more marketing tips.

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