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Looking for tips and advice when it comes to all aspects of buying or selling your home?
Want to learn more about the Starved Rock Area?
Our Blog Provides You With Some Helpful Information To Get Started.
 

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What Are the Top Questions I Should Ask My Realtor?

When you are ready to make one of the biggest investments in your lifetime: the purchase of a house, you deserve to know whether your real estate agent is an experienced, top-notch pro that will help you land the home of your dreams at a price you can afford. Of course, not all agents are created equal, which is why Starved Rock Realty recommends you interview your agent before hiring them to help you with this important purchase. Below are some questions to ask a realtor you may want to consider. 

How long have you been in realty?


Realty professionals learn the business only through experience, so working with someone who’s been a realtor for at least a few years is essential.

Which neighborhoods do you cover?


Assuming you have an idea of the neighborhoods you’re interested in, you’ll want to find a realtor who is not only familiar with those areas, but can quickly tell you things about the area, like home prices, schools, cultural amenities, and more.

How do you determine what your buyers are looking for in a home?


Good agents provide clients with a list of questions that help narrow down the scope of their home buying search. They should also have a grasp on home prices  to let you know whether you are being realistic about the affordability of various home features or neighborhoods

Tell me about your schedule and availability.


Some agents work part-time or may not be available at certain times of the year, like holidays. Since homes can go so quickly, you want to assure your agent is available when you need them. Some agents work as part of a team rather than independently, so they should introduce you to the other team members and assure you feel comfortable with all involved. They should also inform you how they plan to keep in touch (phone, email, text, text), and how often. 

How many homes have you sold to home buyers this year?


Most real estate agents work both with home buyers and sellers. They often specialize in one or the other. In addition, there’s also an immense difference between working with home buyers and actually selling homes. Be sure to find out how many homes they in fact sold to home buyers as this is a clear measure of their success. 

With 20 years of experience, Starved Rock Realty has the knowledge and experience you’re looking for when you’re buying or selling a home in the area. Don’t just change your address—Change your lifestyle. Learn how Starved Rock Realty can help you find what you’re looking for by exploring our website or calling us today at 815-667-9990.


Sources:
https://www.realtor.com/advice...
https://www.thebalance.com/how...
https://home.howstuffworks.com...


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Year-Over-Year Rental Prices on the Rise

Looking ahead, 2020 is projected to be a strong year for homeownership. According to the Freddie Mac Forecast,

“We expect rates to remain low, falling to a yearly average of 3.8% in 2020.”


If you’re currently renting, 2020 may be a great time to think about making a jump into homeownership while mortgage rates are low. As noted in the National Rent Report,

“the national rent index increased by 1.4 percent year-over-year.”


With average rents on the rise, this year-over-year increase may not sound like much, but it can add up – fast. The math on how much extra it will cost you over time surely doesn’t lie.

Here’s an example: On a $1,500 rental payment, an increase of 1.4% adds an additional $21 dollars per month to your payment. When multiplied by the twelve months in a year, it’s a $252 overall annual increase. The price continues to multiply when you rent year after year, as rental prices rise.


History shows how average rental prices have been increasing each year, and there doesn’t seem to be much end in sight. Here’s a look at how rents have grown since 2012 alone:


Courtesy of Keeping Current Matters

Why not
 lock down your monthly housing expense, and at the same time build additional net worth for you and your family? If you’re thinking about buying a home, consider the financial benefits of what homeownership can do for you, especially while the market conditions are strong and current mortgage rates are low.

Bottom Line

With average rents continuing to rise, now may be a great time to stabilize your monthly payment by becoming a homeowner and locking into a low mortgage rate. Reach out to a local real estate professional to learn how taking advantage of the current market conditions might work for you.

Source:
This blog was originally posted by Keeping Current Matters: https://www.keepingcurrentmatters.com/2019/12/26/year-over-year-rental-prices-on-the-rise/
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