There are a few common ways that I have seen an FHA 203k loan used. Predominantly the clients I’ve worked with use this type of loan to purchase a property that either needs some general rehabbing throughout or to finish a job that was left incomplete for one reason or the other. As rehab loans… Read more
A Tutorial Lease with option to buy (aka rent-to-own) is a viable solution for many sellers and buyers, yet it is largely under used. Browsing through the various real estate blogs there are many people asking questions that often go unanswered or receive the same type of safe/fluff answers every time. As we have navigated… Read more
It’s hard enough to time investments. Finance theory says it’s impossible and there is plenty of evidence to prove that it can’t be done. So it should come as no surprise that timing a home purchase would be even more difficult. As I’ve said before, I don’t think people should think of a home as… Read more
Understanding the relationship between interest rates and home prices is particularly important now because most people believe that interest rates are heading up in the not-to-distant future. One might quite logically expect that when mortgage rates rise it depresses home prices. After all, most people determine the affordability of a home by looking at the… Read more
Last October, I wrote about an outrageous mansion, Villa Taj in Burr Ridge. Since then I have obtained some interesting tidbits of updated information. The auction reserve price was $12 million dollars – the auction failed The current broker thinks the place could be sold for scrap for a mere $6mm The seller isn’t entertaining any… Read more
