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,

Coming Soon to Downtown Evanston | Church Street Station Condos | willtveit.com - dreamtown

Coming Soon to Downtown Evanston

Church Street Station Condominiums

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Church Street Station Condominiums | 1640 Maple Ave, Unit 707, Evanston, IL 60201

2-bedroom, 2-bathroom, 2-garage spaces in a full-amenity luxury building ⟰

Bright & open corner unit condo with fantastic city views. Large living room overlooks downtown Evanston, Lake Michigan and Chicago's skyline. Kitchen features maple cabinets and stainless steel appliances, granite countertops and separate eating area. Berber carpeting throughout living areas and bedrooms, in-unit w/d, master bedroom en-suite with large professionally organized walk-in closet, 6-panel doors, private balcony and storage and 2 garage spaces, all included within a luxurious full-amenity building that includes a fitness room, indoor pool, and party room.

WILL TVEIT Dream Town Realty will@dreamtown.com (312) 498-8348 © 2018 offMLS. All Rights Reserved.

⤊ www.willtveit.com  ⤊  www.1640mapleevanston.com ⤊

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

OFFMLS - Coming Soon | 1330 W Diversey Pkwy, Chicago | 3 Bed 2 Bath Condo | WillTveit.com - dreamtown

Coming soon!                         1330 W DIVERSEY PARKWAY Chicago, IL 60614 | Lakeview Property Type Condo New Construction No Lot Dimensions 70x125 Posted May 11, 2017, 1:57 p.m. Spectacular 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! WILL TVEIT Dream Town Realty will@dreamtown.com (312) 498-8348 © 2017 offMLS. All Rights Reserved.

Open House - Sunday, December 4, from 12 to 2 pm | 651 Hinman Ave, Unit #2S, Evanston | WillTveit.com

OPEN HOUSE 🏠 Sunday, December 4th, from 12 pm to 2 pm

651 Hinman Ave, Unit #2S, Evanston, IL 60202  |  $425,000

3 Bedroom, 2 Bathroom Condominium with Garage Parking Included

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WillTveit.com

Gorgeous 2nd floor 3 bed, 2 bath unit in 6 unit landmark building! Modern floor plan with open kitchen, dining and living room. Kitchen with 42'' cabinets, granite countertops & breakfast bar. Large, light filled living room with ventless gas fireplace. Master suite has a walk-in closet, French doors leading onto a private expansive deck and private bathroom with walk-in shower and radiant heat in floors and in-unit laundry. Ample storage in unit, but additional building storage as well. 

Walk to Main Street shopping district, Starbucks, Metra & CTA trains & the lake!  

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WillTveit.com | Buy - Sell - Invest

Dream Town Realty | North Shore

1567 Maple Ave, Evanston, IL 60201 

Will@dreamtown.com | 312.498.8348

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JUST SOLD | 1823 W Chase, Chicago - Rogers Park

Will Tveit | Real Estate    dreamtown

Property Search | dreamtown

 

Will Tveit | Real Estate    dreamtown

JUST SOLD! 3314 North Lake Shore Drive, Unit 2D, Chicago | Lakeview East

                                                           http://www.willtveit.com

 

WillTveit.com | Buy - Sell - Rent - Invest

Dream Town Realty | Chicago & North Shore

1567 Maple Avenue, Evanston, IL 60201

Will@dreamtown.com  |  312.498.8348