State of the Real Estate Through May 2010

The best real estate investment is knowing the numbers!

noreply@blogger.com (Arthur L Dusenbury) — Wed, 24 Nov 2010 17:20:00 +0000

The news from Washington is a mixed bag of good news and bad news. The good news for investors is that the inventory of distressed properties is still high and foreclosure filings are still steady. Good news is that the home loan modifications are beginning to show signs of success. The programs that the Obama administration have put in place since he took office are slowly showing signs that the real estate market is stabilizing. Washington is now admitting it is going to take time for the the real estate market to recover.

Novembers Housing and Urban Development November score card points out the strong and weak sectors of the real estate market recovery. The strong points are the housing prices in most areas are showing signs of stabilization. The weak side is there are more then a million distressed properties still on the market, which is giving investors opportunities like we have never seen before and may never see again in a life time.

We are buying properties at 10-30 cents on the dollar fixing them up and putting tenants in them and selling them as turnkey investments that cash flow $600-1000 per month. Right now we have a turnkey property that we will be closing on that has a built in tenant that has lived in the property for 40 years. We are buying the property short $150K and will do no work on it and the owner is willing to sign a 2 year lease with us. The property, not in distress has a fair market value of $180,000. We will turn around and sell this property with property management in place for $125K for a single lot. Deeper discounts when purchased in lots of 5 or more.

We invite you to our web site RealestateInvestorsChicago.com . We can create this model in any state. All it takes is education on your part. We have limited numbers of qualified properties that will be ready to take investment within 90 days. Reserve you place now. Contact Art at New Vision Investor Solutions
888-248-1410 Ext. 702 or email me for more details.

April 2010 Chicago Housing Market

noreply@blogger.com (Arthur L Dusenbury) — Wed, 28 Apr 2010 15:01:00 +0000

Good news for a change! The real estate market has picked up 42% from the same time last year. How this equates is that the market has bottomed out for now. In the Chicago 6 county area the news wasn't all rosey. Prices overall dropped, to a 12 month over month lose of only .02%. If this momentum continues and the inventory of foreclosures and homes that still existes on the market keeps dropping, we could see a small increase in May. Keep in mind that the $8,000 tax credit for 1st time buyers and $6,500 for move up buyers, is do to expire at the end of April (Saturday is your last chance). The true market conditions will become clear in May. So far, there no indication that the government will extend the tax credit a third time. Unfortunatly they will take a wait and see attitude. This could shipwreck the progress forward movement of the Chicago real estate market. The shadow inventory of foreclosures are still trickling in, leaveing worries of continued downward movement of the market. I am always optimistic and real. I hope for the best for the market. It is imparitive for the real estate market to recover. I don't see major market shifts until Fall 2011 to Spring 2012. The inventory of foreclosures must drop before we will see any improvement is prices.

What if you are a homeowner and have to sell your home and owe more then what your home is worth? Home affordalble Foreclosure act HAFA laws went into place this year that makes selling your home short quicker and more streamlined. Short sale is an opportunity to get out from under your home without having a foreclosure on your record for 7 years.

$290,000 Hoffman Estates, lovely 4 br 3bth home great location, walk to all premiere schools, 10 minutes from Woodfield Shopping Center.

Now's the best time in history to invest in real estate, click here for more information.

We are now approved for a homeloan and we want to view Hoffman Estates homes for sale.

noreply@blogger.com (Arthur L Dusenbury) — Sat, 20 Mar 2010 00:14:00 +0000

You are now approved for a home loan.  Now, what's your action plan?

I hope by now that you and your partner have decided where you want to live.   If you haven't, then the first step you want to take is to search for homes for sale in the general area that you want to live.   You and your partner should talk about:

How close do you want to be to:

Train
Work
Shopping
Entertainment
Family
Friends

What type of needs do we have?

What would we like to have if our budget would allow?

Once you have determined where you wish to live, contact a trusted real estate advisor.   He'll help you to facilitate viewing the homes you choose, and advise you through this extermely complicated buyers' market.   You need an agent that has got your back.

You are invited to check out mls listings Chicago on our web site. You will not be required to sign in unless you would like to sign up for our Free Good Value automatic home search.

Chicago Housing Market

noreply@blogger.com (Arthur L Dusenbury) — Wed, 10 Mar 2010 22:06:00 +0000

How do I buy a home in a turbulent market?

The number one answer is you have to know the numbers as they are now, and you need to figure in the shadow inventory of foreclosures that are about to hit the market.

To buy safely and not end up upside down a year from now what you need to know is that it will take 12-15 months for the new inventory of foreclosures to clear the market and create a stable or even market. Until this happens prices will continue to slide 8-12% more. What I am recommending my valued clients is to start the negotiation 15% below the estimated current market value. Example you view a home listed for $120,000, however the actual home is only estimated to be worth $100,000.   We would recommend that our clients offer $85,000 and accept an offer no higher than $90,000. If the market drops over the next 15 months only 5%, you actually end up with a equity increase.

The Good News is, January homes sales activity was up 14% and the price increased by .20% a modest annualized gain of 2.4%. Take these figures into consideration, the risk is much less purchasing a home and having it decline in the first twelve months.

Here are some things to consider before you start looking for a home.

Determine your needs based on a comfortable life style that your living a life and not for a home.

Determine what you are qualified to purchase. If you have more questions about the loan qualification process send us a quick email and we will respond to you within 24 hours or for quicker service call 847-381-9500 ask for Art Dusenbury.

Decide what your target move in date is.   Then give yourself at least 120 days to complete the home buying process. It is taking much longer to close on a purchase then it has in the past.

Know how the market is going to affect you in the future.   The only way to really know what the market is doing is by selecting a real estate agent that will look out for your best interests. You need an agent with experience and knows how to navigate the turbulent Chicago Real Estate Market.

Join us next Wednesday when the topic is "Now I am pre approved for a home loan; whats next?" In the mean time feel free to search our extensive data base of homes and foreclosures that are a Great Buy in this highly affordable market.

Shadow Inventory of Fine Chicago Foreclosed Homes Coming!

noreply@blogger.com (Arthur L Dusenbury) — Wed, 03 Mar 2010 14:00:00 +0000

Some Folks Just Don't Get It?

Word is in that there is a new wave shadow inventories (Video by trusted CNN Faber Report and Amherst Security Analysts) of Chicago foreclosures coming down the tracks for the 1st and 2nd quarter of 2010. What is a shadow inventory? It is 2 things:

Rentals that Fannie Mae has had in rental inventory homes in Chicago that Fannie Mae intends to release back into the market this spring.

Banks are again getting shot in the foot! Loans that were modified 12-24 months ago are now in foreclosure again. The best predictor of consumer behavior is the recent past. Our government is trying to save consumers that don't have a clue how to be responsible. It's responsible folks that are flitting the bill! This is for another blog.

What does this mean for home sellers and home buyers? Good news and Bad News! The Good News for Buyers is that home prices are going to drop another 12% through 2010. By this time analyst's and I agree the Chicago Homes inventory will the hit bottom by March of 2011.

I'm a buyer that needs or wants to buy a home and I have a credit score higher then 620, do I qualify for a Chicago home loan by FHA? Yes you do if you have a job and a qualified income for the price of Chicago homes for sale and low debt ratio qualification.

I hear the market is still dropping! What do I do to not pay to much? You must work with Chicago real estate agents who will act as your trusted advisor that knows the numbers. Have your advisor calculate and estimated Market Evaluation minus at least 15-18% below current market value. Then start with and offer 3% lower then that as a starting bid. You must be willing to walk away from a home. That emotional decision may come back to bite you down the road. Don't plan on selling your home for at least 7 years.

Check back next week for more helpful real estate information from "The Art of Real Estate".

Next weeks topic: How do I buy a home in a turbulent Chicago real estate market.

What home buyers face in the New Reality Market

noreply@blogger.com (Arthur L Dusenbury) — Thu, 11 Feb 2010 12:22:00 +0000

What can home buyers expect for the up coming Real Estate spring market of 2010? If you have stellar credit, you can look for a lengthy home loan process, long waiting times for home loans, and a ton more of paper work by mortgage companies. If you have a credit score of 620 or higher, you will have less options, however if your qualified, you may be able to purchase more home than you may think, Cook County FHA Loan Limits is currently $410,000. Closing are taking at least 90 to 120 days from the date of contract. 4 out of every 10 listings is a foreclosure. Using an ethical mortgage broker is going to help you shop for the best home loan for you. We can recommend a few ethical mortgage brokers for you. It is imperative that home buyers have a team of advocates that understands the intricacies of foreclosures and short sales.

Today is the hardest Art has seen in nearly 20 years keep up with the daily changes and sometimes minutely changes that are taking place in the real estate market. From day to day Hud makes a change to a Hud-1 rule that may not be communicated until it is to late then a home buying transaction is in jeopardy, and the home buyers dream fades as the watch their dream home fade away.

You can count on the services of professionals that can help you navigate the extremely choppy waters. If your not ready to make that commitment that's OK, we hear you, in the mean time, feel free to help yourself to an entire list of homes for sale in the Chicago area. O by the way, there is no obligation to leave an email unless you sign up for our free home updates. This services emails you homes that you choose what you want sent to you, with several frequency options.

At Ahouse 4 Us Group we believe in giving you choices. You make an informed decision based on your own needs and wants. We are just facilitators of the process. To find out the steps it takes to buying a peace of the American dream, click hear and we will walk you through your first step.

How's The North West Chicago Market Doing in 2010?

noreply@blogger.com (Arthur L Dusenbury) — Mon, 01 Feb 2010 00:45:00 +0000

Looks like the market has picked up some from it's year over year being 12 months. IL is still upside down as a whole, the North West Chicago area including Lake County and Dupage County had units sold of 297775 compared to previous 12 months of is fairing much better with sales in the last 12 months up from the previous 12 months of 41399. A significant increase signaling the bottom is near.The good news is that the price drops are slowing way down from last year. The normal winter cycle is now in affect. Even with the cold weather, President Obamas Tax credit of 10% of the purchase price up to $8,000 is expected to keep the real estate housing market robust for home buyers for a second time in the last 12 months.Foreclosed homes aren't what they were 3 years ago. Most people assume that they are trashed out handyman specials or worst.
Hud is will raise the minimum down payment required to 5% due to skyrocketing foreclosure rates and they are also expected to raise the interest rate well above 5.5%. With FHA limits raised to $410,000 in Cook County all you need to have is a qualifing income and at least a 620 credit score and no bankrupcy in the last 7 years.

Today they come is all shapes, sizes and many are in spectacular shape, the following is an example of one.

Real Estate Market Update July 2009

noreply@blogger.com (Arthur L Dusenbury) — Mon, 10 Aug 2009 21:24:00 +0000

More Americans signed sales contracts to buy homes in June than in May, the fifth consecutive month of increases, according to a report released Tuesday.

The National Association of Realtors said its Pending Home Sales Index rose 3.6% during the month. That was 6.7% higher than June 2008. It was the fifth straight month of increases, the first time that has happened since July 2003.

The report followed several other recent pieces of good news for the housing industry, rise in new home sales, a rise in existing home sales and the first home price increase of 1.4%. That doesn't sound like much, however to put it in prospective home prices dropped by 18% the same time 12 months earlier.

Industry experts were predicting only a .7% increase.

Low interest rates and more affordable housing choices are fueling the activity.

Affordable housing sales have been the driving force of the market, an indication that the Obama stimulus tax credit, worth up to $8,000, is helping perpetuate this increase in market activity. TIME IS RUNNING OUT for you to take advantage of this once in a life time opportunity.

It will take as long as two months to close on a home after signing a contract, Buyers must take action now to take advantage of the $8,000 tax credit because they must close on the sale by Nov. 30."

To find out how you can get in on the action call Art now at 847-847-8964 or to email me.

June 2009 Market Update

noreply@blogger.com (Arthur L Dusenbury) — Thu, 02 Jul 2009 19:22:00 +0000

The news is good and bad. The good news is that home closings are up

Chicago Real Estate Market is Making a slow come back.

noreply@blogger.com (Arthur L Dusenbury) — Wed, 17 Jun 2009 23:28:00 +0000

The news is finally positive for a change according to CNN new housing starts were up by 17.2% over last year.

1st time home buyers appear to be leading the way. Existing home sales rose 2.9% while the median sales price fell 15.4% to $170,200. It appears the decline is near the bottom, however some experts are saying that it's not over yet.

If the wave of foreclosures will stop we may see a slight return to a more sane buyers market. It is amazing the deals that are to be had out there. There is currently a ranch home in Schaumburg that was selling for $300,000 in 2007, a similar home is currently for sale as a foreclosure for only $180,000.

There are many good bargains in real estate right now if you have the guts to hold on to properties for at least 5 years. Curious about the Chicago real estate market? You may search homes Barrington IL Homes for sale online 24/7 for free.