Dewberry Realty

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2017-03-22T10:40:00.000-05:00

REAL ESTATE TIP 113: Get Pre-approved BEFORE viewing that house!

2015-10-09T14:53:00.000-05:00

Getting pre-approved for a mortgage is what separates a serious buyer from everyone else. If you are looking at properties and you aren't pre-approved or planning to pay cash, you could be wasting time, you need to know how much you can afford and whether or not you'd even qualify for a mortgage before you begin the process of house hunting. In most cases a seller won't even entertain an offer it's not submitted with a pre-approval letter or proof of funds. Anyone can say they want to buy a property, but getting pre-approved is what shows a seller that you are ready, able and willing to do so. If you want to be considered a serious buyer, get pre-approved!

REAL ESTATE TIP 112: Don't let ugly paint scare you away from a Gem!

2015-10-01T11:05:00.000-05:00

Everyone is different in their own special way. What's beautiful to one person could be an eyesore to the next. The same goes for decorative ideas, but don't let someone's ugly furniture or 5 color paint combo steer you away from a property that could be perfect for you in every other way. You have to keep an open mind and try to envision the property with your special touch instead of what you're currently seeing, imagine a blank canvas just waiting for you to make it your own work of art. "Home sweet home" is merely a matter of perception!

REAL ESTATE TIPS 111: Lowballing: Thrifty or unrealistic?

2015-09-29T14:15:00.000-05:00

Everybody likes a good deal... whether it's buy 1 get 1 free or 10% off with a coupon. A few years ago it was so common to find an unbelievably good deal in Real estate that it became normal to submit outrageously low offers without thinking twice, it was truly a buyer's market. In the last couple years since the vast inventory of the foreclosure crisis has begun to dry up and investors have taken many of those dirt cheap properties and doubled or even tripled the value the market has begun to change. With market values increasing sellers aren't as eager to jump on the 1st offer that hits the table, especially if it's $30k under current market value. If a property is listed way above market value then of course there's room to negotiate below list price, but if a property is listed to sell at market value you could be wasting time pursuing it with the intentions of Lowballing, if you're interested in a property more than likely there's 5 other ready, able and willing buyers who are serious and realistic about what to offer. Times change and markets change, make sure you keep up!

REAL ESTATE TIPS 110: You Can't Win if You Don't Play!

2015-09-08T11:49:00.000-05:00

Buying a home is one of the biggest purchases most people will ever make. For some, it can be a lifetime commitment. The task of choosing the right home to fit your specific needs can be nerve wracking and a bit intimidating, especially for a 1st time buyer. While it can be a stressful decision to make, you have to be willing to take a chance on yourself, being afraid to make a move could cause you to lose out on the property that's right for you. Even though it can be stressful playing the real estate game, you can't win if you don't play!

REAL ESTATE TIPS 109: Communication Is Key!

2015-09-03T10:01:00.001-05:00

In a real estate transaction communication between the parties involved can either make or break a deal. If all parties are able to communicate with one another most issues can be resolved in a timely manner, making it easier to get the deal closed. When there is a lack of communication between realtors, lenders, and attorneys it can make the simplest task almost impossible to complete which can delay or even prevent a deal from closing. There are so many moving parts in a transaction, it's important that everyone is on the same page throughout the process, proper communication is key!

REAL ESTATE TIPS 108: You have to flip a few stones...

2015-08-27T09:59:00.000-05:00

When searching for a home many buyers get discouraged when they don't immediately find the perfect property. You see a property that has this but not that, perfect house but wrong location, perfect location but wrong house, it can seem like an endless cycle of disappointment. The worst thing a buyer can do in this situation is give up. Staying vigilant and optimistic can really make all the difference while navigating the housing market. Like many things in life you might have to flip a few stones before you find that diamond!

REAL ESTATE TIPS 107: Anticipate the Unexpected

2015-08-20T12:56:00.000-05:00

When purchasing a home there are numerous fees and charges that must be paid prior to and at the closing, these fees and charges are known as "closing costs". Aside from your down payment (if you're taking out a mortgage loan) there are cost that include appraisal, title insurance charges, mortgage origination fees, property transfer fees and many others that must be paid in order to close your transaction. In most residential transactions closing costs can range from 2-5% of the purchase price, I usually advise my clients to anticipate 5% due to the fact that there are different factors that effect the amount you'll need in closing costs as every transaction is different in many ways. It's better to be over-prepared, if you come out with money left you can treat yourself to something nice!

Don't Miss Out On The IDHA 1st HomeIllinois Program!!! You could receive $7,500 in down payment assistance

2015-08-11T10:44:00.000-05:00

ATTENTION: Don't miss the opportunity to utilize the IHDA 1st Home Illinois program, 1st time buyers (or if you haven't purchased in past 3yrs) can receive up to $7,500 in down payment and closing cost assistance. The program can help turn many potential buyers into homeowners.

REAL ESTATE TIPS 106: Add Value and Not Novelties!

2015-08-06T10:52:00.000-05:00

One of the biggest mistakes homeowners make is updating their home without considering whether or not those updates will increase or decrease value. If you never plan on selling your home then definitely paint it purple and orange and put a fireman pole from the second floor to the basement. If resell appeal doesn't matter to you then its not an issue to go from a 3 bedroom home to a 1 bedroom with an oversized walk-in closet. If it's possible that you might sell at some point it would be more beneficial to update electric, plumbing, replace older windows, update kitchen and bathrooms (Caution: keep it simple as these two can go from smart investment to money pit in the flip of a page). Remember your home is an investment, the choices you make effect the possible return, be them good or bad.

REAL ESTATE TIP 105: The Budget is Your Friend!

2015-07-24T08:04:00.000-05:00

Creating a budget that works for your situation is essential in real estate planning. If you're a 1st time buyer you'll need a budget of how much house you can afford, how much you can afford in closing cost and downpayment as well the amount of repairs and updates needed. If you're a seller you'll need a budget of how much you can afford to spend on repairs before putting your home on the market as well as costs associated with the transfer of your property some of which must be paid out of pocket. Investors MUST have a budget to insure the amount of work put into the property will increase value while not breaking the bank. Create a realistic and sensible budget and let that be your blueprint to Real Estate success!

Real Estate Tip 104: All Advice Isn't Good Advice

2015-07-23T07:47:00.002-05:00

Getting insight from family and friends on things you have going on in your life can sometimes be useful... Real estate usually isn't one of those thing! Many people like to give advice on how to navigate the Real Estate market while having very little experience, if any. It's usually better to consult with licensed professionals who have the knowledge and experience to properly advise you as opposed to the guy at the Barbecue who's "in the business", it cost him nothing to give you bad advice, but how much could that bad advice cost you?

Real Estate Tip 103: Building a Team

2015-07-22T11:33:00.001-05:00

One of the most essential requirements to becoming successful in Real Estate or almost anything else is building a reliable team you can trust. Having a knowledgable and dependable team of experts working on your behalf is as important for the 1st time Homebuyer as it is for the billionaire real estate mogul. Real Estate isn't a one man game, it's a collaborative effort by Realtors, lenders, Property inspectors, appraisers, attorneys and so on, with that many moving parts you have to be able to depend on those representing you. In Real Estate transactions one bad apple truly can spoil the bunch!

Real Estate Tip 102: Cutting Corners

2015-07-22T10:13:00.000-05:00

Cutting corners usually isn't your best option. Trying to save money in the beginning can cost you dearly in the end. There are cost to doing business and trying to get around them can have you wasting money correcting something you paid someone's uncle to do who was NOT qualified or equipped for the job! The cheapest option isn't always the best!

Listing: 7641 S. Merrill Ave. Chicago, IL MLS#: 08506392 CLOSED

2015-07-14T09:35:00.000-05:00

Listing: 9730 S. Walden Pkwy. Chicago, IL 60643 MLS #: 08809167 CLOSED

2015-01-04T13:46:00.000-06:00

Listing Price: $259,000

3 Bedrooms

1.5 Bathrooms

2.5 Car Garage w/ office & additional storage space

CC: Pursuant to Short Sale. Well Maintained Victorian sitting on a Corner Lot in Beverly just minutes from Shopping and seconds from public transportation. Beautiful Hardwood Flooring throughout 3 Bedrooms, 1.5 bathrooms, Full Basement, Spacious backyard with 2.5 Car Garage which also includes an Office and additional storage. Property sold AS-IS. Schedule your showing Today!!!

Listing: 3847 W. 82nd PL. Chicago, IL 60652 MLS #: 08694961 CLOSED

2014-08-08T14:02:00.000-05:00

CLOSED

Listing Price: $135,000

3 Bedrooms

2 Full Bathrooms

1.5 Car Garage w/ Side Driveway

CC; Pursuant to Short Sale. Well maintained 3 Bedroom Raised Ranch in The Ashburn Area. Hardwood wood floors, full finished basement, 1.5 car garage with side drive. Home only needs a few finishing touches to make it your own.

Why rent when you can own?

2013-06-17T13:00:00.000-05:00

In today’s market it’s kind of a catch 22 for many people who want to get in the business of buying real estate. The property is cheap but it is harder to get a loan. Some may not even know the steps to take to become a homeowner. Some people may feel that they are ready to buy a home but the mortgage companies may not agree. If you are one of these people then the best option for you would be to find a “Rent to own” or “Rent with option to buy” program. The “rent to own” program helps individuals who are unable to get a home loan due to unpaid debts or low credit scores rent a property for a specified time period and if the rent is paid on time every month the owner will sell the property to the tenant. Many owners understand that it is becoming harder to get a loan and are willing to work with potential buyers to help them gain the security of owning a home. The real estate market is always changing, and not always for the better, but with change comes new opportunities and the opportunity to own a home is still attainable.
For more information on the Rent to Own program feel free to send me a message at markdewberry1@gmail.com or Call 773-710-6016.

Listing: 10609 S. Indiana Ave. Chicago, IL MLS#: 08343392 CLOSED

2013-06-01T07:08:00.000-05:00

CLOSED

Listing Price: $45,000

3 Bedrooms

2 Bathrooms

CC: Pursuant to short sale. Well maintained 2 bedroom brick Georgian with addition 3rd bedroom in basement. Property is being sold AS-IS. Earnest money must be certified funds. Lender approval needed.

Mortgage Executives Sentenced in $3 Billion Fraud Ring

2011-06-13T12:46:00.000-05:00

Two executives from Taylor, Bean & Whitaker Mortgage Corp, formerly one of the country's largest privately held mortgage lending companies were sentenced to several years in prison for their involvement in an estimated $3 billion mortgage fraud ring. Former president Raymond Bowman, and former treasure Desiree Brown were convicted for their roles in trying to hide major company losses by transferring money between accounts at Colonial Bank and selling bogus mortgage loans that either were previously sold or never existed. Bowman was sentenced to 30 months in prison while Brown was sentenced to 6 years in prison. Former chairman Lee Farkas who prosecutors named the ring leader of the fraud is set to be sentenced June 27.

According to prosecutors the mortgage fraud ring lasted more than 7 years until August 09 which caused the collapse of Taylor, Bean, & Whitaker mortgage corp and Colonial BancGroup Inc.'s Colonial Bank.

While it seems that the government is starting to make those at fault pay, their are still much bigger fish to fry.

Mortgage Rates Keep Dropping

2011-06-12T14:35:00.002-05:00

For the 8th consecutive week fixed and adjustable rate mortgages have continued to drop to a new yearly low. Rates for a 30 years fixed-rate mortgage dropped from an average of 4.55 percent last week to 4.49 percent this week, as opposed to last years average at this time of 4.72 percent. 5 year adjustable-rate mortgage rates have dropped from an average 3.41 percent last week to 3.28 percent this week. This time last year 5 year ARM averaged 3.92 percent.

With mortgage rates dropping every week it would seem that the market should be flooded with new buyers, just waiting to take advantage of the low rates and cheap property. Not exactly. Even with the low rates its not guaranteed that you will be approved for a loan. It has become harder than ever to secure financing and the banks are making it as difficult as possible to get a loan. Due to their mismanagement of funds and blatant disregard for current and future homeowners, we are now looking at a market where if you don't have cash or perfect credit you are swimming upstream.

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REAL ESTATE TIP 113: Get Pre-approved BEFORE viewing that house!

REAL ESTATE TIP 112: Don't let ugly paint scare you away from a Gem!

REAL ESTATE TIPS 111: Lowballing: Thrifty or unrealistic?

REAL ESTATE TIPS 110: You Can't Win if You Don't Play!

REAL ESTATE TIPS 109: Communication Is Key!

REAL ESTATE TIPS 108: You have to flip a few stones...

REAL ESTATE TIPS 107: Anticipate the Unexpected

Don't Miss Out On The IDHA 1st HomeIllinois Program!!! You could receive $7,500 in down payment assistance

REAL ESTATE TIPS 106: Add Value and Not Novelties!

REAL ESTATE TIP 105: The Budget is Your Friend!

Real Estate Tip 104: All Advice Isn't Good Advice

Real Estate Tip 103: Building a Team

Real Estate Tip 102: Cutting Corners

Listing: 7641 S. Merrill Ave. Chicago, IL MLS#: 08506392 CLOSED

Listing: 9730 S. Walden Pkwy. Chicago, IL 60643 MLS #: 08809167 CLOSED

Listing: 3847 W. 82nd PL. Chicago, IL 60652 MLS #: 08694961 CLOSED

Why rent when you can own?

Listing: 10609 S. Indiana Ave. Chicago, IL MLS#: 08343392 CLOSED

Mortgage Executives Sentenced in $3 Billion Fraud Ring

Mortgage Rates Keep Dropping