Tag: home buying

DOJ Lawsuit Forces Realtors To Change Co-op Commission Practices

DOJ Lawsuit Forces Realtors To Change Co-op Commission Practices
For some time the way realtors get home sellers to pay buyers’ agents (co-op) commissions has come under antitrust scrutiny. About 1 1/2 years ago a class action lawsuit was filed by some home sellers alleging that several brokerages engaged in price fixing with regard to co-op commissions. Now, just 1 1/2 weeks ago, the... Read more »

How Realtors Make Home Ownership Look Like A Wealth Builder

How Realtors Make Home Ownership Look Like A Wealth Builder
From time to time “economists” from the National Association of Realtors publish propaganda pieces on how great real estate is. For example, just last week they published an article on how “homeownership presents a great pathway to build wealth“. If you ever need an example of how to lie with statistics this serves as a... Read more »

Real Estate Appraisals In The Time Of Coronavirus

Real Estate Appraisals In The Time Of Coronavirus
I’ve written a few blog posts about real estate appraisals in the past – most recently this one about the inherent biases in the appraisal process that make them kinda worthless. That one also contains a link to an earlier one on some of our worst experiences with real estate appraisals. Well, with the Coronavirus... Read more »
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The Trick To Saving Thousands On Your Next Mortgage: A Rebate

The Trick To Saving Thousands On Your Next Mortgage: A Rebate
Whether shopping for a new mortgage or just refinancing an existing mortgage it really pays to shop around. A couple of weeks ago I posted an article on how to go about shopping for the lowest cost mortgage, laying out a strategy for putting all your options on a level playing field for easy comparison.... Read more »

How To Shop For The Lowest Cost Mortgage

How To Shop For The Lowest Cost Mortgage
I posted a guest article on Using APR (Annual Percentage Rate) To Shop For A Mortgage back in November. The gist of that post was that attempting to compare mortgage costs based on APR can be quite deceptive and the author suggested getting a loan estimate in order to fully understand the costs. However, even comparing... Read more »

Reality Doesn't Live Up To The Real Estate Negotiation Myth

Reality Doesn't Live Up To The Real Estate Negotiation Myth
At this point in my career I’ve witnessed or been a party to hundreds of real estate negotiations and I can tell you in no uncertain terms that the process doesn’t usually live up to the expectations of either home buyers or sellers. I actually wrote a really comprehensive blog post on this topic about... Read more »
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The Best Time To Buy Or Sell A Home In The Chicago Area: Seasonal Prices

The Best Time To Buy Or Sell A Home In The Chicago Area: Seasonal Prices
About a year ago I looked at the best time to buy or sell a home in Chicago from a supply and demand perspective. Theoretically, looking at the market that way should get you the best price for a home sale or purchase. However, what does the data actually tell us? Well, I’ve done this... Read more »

Mobility Trends: People Just Don't Move Like They Used To

Mobility Trends: People Just Don't Move Like They Used To
OK. This blog post sounds an awful lot like the one I did a little over 2 1/2 weeks ago where I talked about how long people are staying in their homes. But the data I shared in that post was less than ideal. It was biased by only looking at people who moved and... Read more »

Homeowners Staying In Their Homes A Lot Longer Than They Used To

Homeowners Staying In Their Homes A Lot Longer Than They Used To
The real estate industry has a lot at stake when it comes to how long people stay in their homes. The average tenure of homeownership directly drives transaction volume. An average tenure of 5 years would result in 20% annual turnover of the housing stock while a 10 year tenure would produce 10% turnover. The... Read more »
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Using APR (Annual Percentage Rate) To Shop For A Mortgage

Using APR (Annual Percentage Rate) To Shop For A Mortgage
This is a guest post written by Paul Braker who is a Residential Mortgage Broker working for The Mortgage Marketplace in Mt. Prospect. Paul originates mortgages throughout the greater Chicago area and even provides his home buyers with rebates. Imagine that! The APR (Annual Percentage Rate) reflects the mortgage interest rate, any points, mortgage broker... Read more »