Newest MLS Listings Updated Several Times Daily

Street Address Area Price Beds Listing Date
290 Sandhurst Lane South Elgin $150,000 3 2/24/2017
Exterior Front 732 Berkshire Lane Carol Stream $289,900 3 2/24/2017
1772 AINSLIE Street Uptown $539,900 3 2/24/2017
1690 Penn Court Crystal Lake / Lakewood / Prairie Grove $189,900 3 2/24/2017
1415 DEARBORN Street Near North Side $334,900 2 2/24/2017

Real Estate Investments

If you are thinking it’s time to purchase your first real estate investment property, here are a few things to consider first.

• Purchasing the Investment
The best option when buying an investment property is to pay cash for it, no financing. Now, if this is not possible (don’t worry not everyone can do this), you need to make sure that if the property is vacant, you can pay the mortgage. There will be times when this happens and making sure that the mortgage continues to be paid is crucial. One way to do this is to put the surplus from rent into an account. This account can be used for the times when the property is vacant or when repairs need to be done.

2017 Real Estate Predictions

2017 is underway and there are several predictions in real estate that you should take into consideration if you are planning on selling or buying a home this year.

1. Home prices are expected to continue to increase. That being said, the increase is suppose to be a bit slower than 2016 (3.5% in 2017 versus 4.5% in 2016).

2. Inventory levels for smaller homes have decreased tremendously compared to more expensive homes.

3. Interest rates are expected to increase post-election. The increase is estimated to increase up to .5%. Although that doesn’t seem substantial, in addition obtaining a first-time mortgage will likely be more difficult also.

Home Owner Insurance

When closing on a new home purchase, lenders typically require you bring evidence of a homeowner policy on the new property. It’s their way of making sure their investment is protected.

Most homeowners tack the monthly insurance premium into their mortgage escrow amount. Lenders tend to prefer this option because then they can make sure the premiums are being paid.

When looking for homeowner insurance, here are some tips for making sure that you get the best coverage:

1. Solicit at least three quotes on insurance. This will allow you to adequately compare coverage. Be sure to take price (premium), coverage options, and customer reviews into account when selecting your insurance company.

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