Will Tveit - Real Estate | My Blog - Market Conditions | willtveit.com

Recently, I've been asked by friends, prospects, and acquaintances, as well as former and current clients about our current market, specifically what's going on?  Well, folks, we seem to be entering a buyer's market. To better understand this market, let's first look at the current real estate conditions: 1. Prices at all-time highs For the past several years, home prices grew at twice the rate of inflation and faster than incomes. Not surprisingly, we are now at record price levels. However, price growth has definitely been slowing over the past several months. And we're even seeing some softness in the market, with an increasing number of price cuts. 2. Mortgage rates rising The current 30-year fixed mortgage rate stands at 4.63%. That's almost a 1% increase over just a year ago and the highest level we've seen since 2011. 3. Dropping affordability and demand Combined with current high prices, the rise in mortgage rates is causing a decrease in affordability. Earlier in the year, affordability was estimated to be at a 10-year low. Not surprisingly, this is having an effect on demand, with mortgage applications down 16% over last year. When these factors are viewed together, there appears to be a fundamental shift in the market. Home price growth is slowing, and home prices might eventually start to decrease. Mortgage rates are expected to continue to grow. And if that happens, we will slowly but surely enter a market where buyers, not sellers, have the final say. So what does this mean for you? Well, if you're looking to sell, it means the time to act is now. Around Chicago, I still see a lot of demand for homes. However, over the next several months, it's likely that national trends will catch up with us here in the Chicago area as well. The good news is, you have an opportunity to act before this happens. If you decide to list your home this winter, you might benefit from the current high prices as well as the solid demand around Chicago. In other words, you could sell quickly and for top value. In case you’re considering it, you can get more info on what your home is currently worth by filling out this home evaluation form: Enter your home address here to find out what your home is currently worth And if you are ready to get the process rolling while this opportune moment still lasts, give me a call. I'm here to help. Have a great day,

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Will Tveit

Your Chicago Real Estate Expert

312.498.8348

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Lincoln Park: 1950 N Sedgwick | Lincoln Square: 4553 N Lincoln Ave | West Loop: 849 W Monroe

Northwest Chicago: 7280 W Devon | Evanston: 1567 Maple

Just Listed - Skokie Split-Level Home | Will Tveit - Dream Town Realty

Open House | Morton Grove, Illinois | 9134 National Ave | willtveit.com - dreamtown

OPEN HOUSE |  September 17th

From 12 Noon to 2 P.M.

9134 National Ave, Morton Grove

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🏠Virtual 3D Tour

🏠Virtual 3D Tour

Tips for Home Sellers | WillTveit.com - dreamtown

Tips for Home Sellers

Just Listed - Buffalo Grove, Illinois | willtveit.com - dreamtown

   |   JUST LISTED

106 COPPERWOOD DRIVE

4 BED   |   2.5 BATH   |   BUFFALO GROVE

$485,000

View our Virtual 3D Tour! Charming Old Farm Village, 4 bedrooms, 2 1/2 baths, Coventry Model home located in the highly rated Stevenson High School District. Updated gourmet kitchen with stainless appliances including Thermador gas range/grill, microwave, and electric double-oven, and built-in full-size GE Monogram refrigerator & freezer. Kitchen opens to family room with cozy fireplace. Sliding glass doors off the family room open to the beautiful large fenced backyard with a dog run and patio for barbecuing. Newer Bosch front-loading washer & dryer located on the second floor. Hardwoods throughout the first floor; carpeting throughout second floor and basement. Updated baths. Fenced back yard with sprinklers, newer roof. Finished basement with Rec Room and storage area.

• Updated Gourmet Kitchen with Granite Counters & Stainless Steel Appliances
• Kitchen Opens Into Family Room
• Large Fenced Backyard with Beautiful Patio & Dog Run
• Finished Basement with Rec. Room
• Located in Highly Rated Stevenson School District

WILL TVEIT

Broker - Realtor

312.498.8348

will@dreamtown.com

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Perennials for Year-Round Curb Appeal | WillTveit.com - Dream Town Realty

Plant Perennials for Year-Round Curb Appeal

Beautiful flowering plants not only increase your curb appeal, they can also increase the enjoyment you take in your own home and yard. While some sections of the country have challenges when it comes to maintaining a colorful yard all year, there is a solution that nearly anyone can benefit from perennials. Perennials are considered low-maintenance plants because once you plant them and they take root, they will “come back” year after year, for anywhere between two and 10 years. With perennials, it’s possible to plant a garden that shows color all year through. Technically speaking, trees and shrubs count as perennials, which is why we say that even people in colder climes can also enjoy the beauty of these hardy plants: think holly, viburnum and evergreen azalea. A blanket of snow can actually act as insulation for perennials, ensuring they’ll be back in full force the next year. The first season you put these plants into the ground is the most important to ensure a long life. You must care for them until their roots have time to establish. After that, flowering perennials do not need to be replanted each year; after their season ends, you can cut them back, water and mulch them, and wait for the next season to arrive. Like all plants, perennials need light, air, water, and nutrients. They are not completely maintenance-free! They do need to be watered, fertilized, weeded, and mulched, and eventually will need to be pruned and divided as well. When planting in the spring, perennials can go into the ground much sooner than delicate annuals. Perennials usually don’t suffer from frost damage, so technically you could plant them at any time of year as long as you can work the soil. Here are some basic guidelines to caring for perennials: In spring: Weed carefully, and rake debris and clean up the beds only after the temperature is sure not to dip again. Add a little fertilizer and a thin layer of fresh mulch. Some plants like chrysanthemums benefit from a light pruning, which helps them spread out and produce more buds. In summer: As summer progresses you'll need to complete a few maintenance tasks. Stake tall plants like delphiniums before they start to tilt. Deadheading can help plants bloom longer. Once they've turned completely brown, cut back plants to a couple of inches above the ground. In fall: Remove grass that's encroached on the flower beds. Weed and lay down mulch around perennials that were planted in the fall. Cut back the remaining plants that have finished flowering. In winter: There’s not much to do once it gets really cold. Enjoy your evergreens and any winter berries, and plan your spring planting! Of course, the types of plants that will grow well for you are impacted by the area of the country in which you live, your weather, and the amount of sun they receive. But for a relatively easy, beautiful garden, which ramps up your curb appeal and makes you want to spend lots of time outdoors, you can count on perennials. WillTveit.com | Buy - Sell - Invest Will@dreamtown.com | 312.498.8834

For Sale: 1330 W Diversey Pkwy Unit 3E, Chicago - Lakeview | willtveit.com - dreamtown

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New Listing:   1330 W Diversey Parkway, Unit 3E, Chicago  |  Lakeview

Listed at $630,000

• Large Open & Airy Living Room

• 42" Custom Cheery Cabinetry

• Stainless Steel Appliances

• En-Suite Marble Master Bathroom

• Large Steam Shower

• Crown-Molding & Millwork

• Beautiful Hardwood Floors

• Mudroom w/ Side-by-Side Washer/Dryer

• Oversized Balcony + Huge Common Deck

• Garage Parking + Additional Outside Space

Gorgeous 3 bedroom/ 2 bathroom condominium with high-end finishes throughout, including hardwood floors, gourmet kitchen w/ commercial grade stainless steel appliances, cherry cabinets, marble master bath. Beautiful mill work and separate mudroom with side-by-side washer/dryer, Oversized balcony via hallway and master bedroom, as well as a huge common rooftop deck. One garage space plus one outdoor parking space included.

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Just Listed | Lakeview Condominium For Sale | willtveit.com - dreamtown

Just Listed in Lakeview | Chicago 

1330 W Diversey Pkwy, Unit 3E, Chicago, IL 60614

3-Bed / 2-Bath Condo with Garage Plus Extra Parking Space   |   $630,000 

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Gorgeous 3 BR/ 2BTH condominium with high-end finishes throughout, including hardwood floors, gourmet kitchen w/ commercial grade stainless steel appliances, cherry cabinets, marble master bath. Beautiful mill work and separate mudroom with side-by-side washer/dryer, Oversized balcony via hallway and master bedroom. Huge common deck as well. One garage space plus one outdoor parking space included!