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

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, Will Tveit | MBA - Broker - Realtor Dream Town Realty | Chicago & North Shore

Real Estate News from Will Tveit | Realtor - dreamtown

Spring 2019 REAL ESTATE NEWS Brought to you by 2019's Hottest Home Decor By Barbara Pronin Comfort is trending for 2019, a consensus of home decorators agree, with more people seeking warm colors, intimate spaces, and a casual but sophisticated lifestyle. Designers looking to pair physical coziness with emotional comfort forecast seven decor trends: Scaled down furnishings - After years of favoring large furniture and open spaces, consumers are aiming for a ‘nesting’ environment and choosing smaller pieces arranged in more intimate settings. Wall coverings - The return to traditionalism brings with it a return to wallpaper, fabric wall coverings and murals. Expect to see plenty of rich shades of green in fabric and wallpaper patterns. Color changes - While blues and indigos have been huge in recent years, green is the new blue for 2019 and is likely to be used in everything from upholstery patterns to kitchen furnishings. Color ‘pops’ - People are ditching beige minimalism in favor of fun colors, especially in family-friendly spaces. Yellow is the hottest color for small accent pieces–from ceramics to lamps to sofa pillows. Warm woods and traditional styles - Antiques and even second-hand items are having their moment again, with consumers looking for skirted tables, wooden chests and other wood pieces with a sense of history. Indoor and outdoor fireplaces - The coziness trend favors indoor fireplaces, working or not, with homey hearths as a nice spot to gather. Outdoors, fireplaces are preserving the joy of summertime barbecues. Crafts and artisanal accents - In a world of increasing mass production, there has been a shift back to artisanal and boutique choices in pillows, wall hangings, quilts and other accent pieces all around the home. How to Reduce Your Home's Carbon Footprint You may work to reduce your personal carbon footprint by driving less and recycling, but do you consider the footprint of your home? Here are some tips to make your home and your wallet a little greener. Buy efficient appliances. Appliances are getting more efficient every year, and some have better energy and water-use ratings than others. The energy rating of an appliance is easy to find and can be a great guide for those looking to reduce their electricity and water consumption. Install low-use fixtures. Shower heads, toilets, faucets, and other fixtures now come in models that use less water than others. These fixtures can lower a home's utility bill as well as reduce the amount of water a home uses. Plant a garden. Plants remove carbon dioxide and give off oxygen. Keeping a garden can help counteract your carbon output, provide a fun hobby and supply you with homegrown vegetables or beautiful flowers. Install a drip irrigation system so that plants get only the water they need. Landscape using climate-appropriate plants. Local plants are better adapted to the environment, are non-invasive to other species and require less water than outsiders.                                      ______________________ If you are thinking about buying and/or selling a home, contact your real estate expert, Will Tveit | Real Estate with Dream Town Realty first!  Will Tveit's direct number is 312.498.8348, and his email is Will@dreamtown.com. Also, feel free to check out Will Tveit | Real Estate's website at WillTveit.com.  For the best service and most fastidious attention to detail in Chicago and on the North Shore, contact Will Tveit | Realt Estate today!   🏡                                      ______________________ Will Tveit | MBA-Broker-Realtor Dream Town Realty | Chicago - North Shore 1567 Maple Ave., Evanston, IL 60201 mobile: 312.498.8348 | email: Will@dreamtown.com web: www.WillTveit.com | www.1640MapleEvanston.com

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Will Tveit

Your Chicago Real Estate Expert

312.498.8348

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dreamtown.com

 

 

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 | 9134 National, Morton Grove - Sunday from 11 am to 2 pm | willtveit.com - dreamtown

|   OPEN HOUSE
9134 National Ave, Morton Grove SUNDAY, OCTOBER 8, 11:00AM - 1:00PM
SEE MORE PHOTOS & INFORMATION ABOUT ALL LISTINGS
3 BED   |   2 BATH MORTON GROVE View our Virtual 3D Tour! Charming 3-bed 2-bath home with detached 1 car garage. This 2-story home features refinished hardwood floors throughout, beautiful new kitchen with GE stainless steel appliances, new vanity in main floor bathroom, new windows w/ 2 Charming 3-Bed 2-Bath Home Hardwood Floors Throughout Updated Stainless Steel Kitchen Beautifully Landscaped Close to Parks & Schools WILL TVEIT Residential Specialist 312.498.8348 will@dreamtown.com http://willtveit.com
www.WillTveit.com | Dream Town Realty Inc.

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

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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🏠 willtveit.com

Roger Park▫WillTveit.com

Just Listed in Rogers Park 

2 Bed 2 Bath Town House

w/ Bonus Room/Office & Attached Garage

7240 N Damen Ave, Chicago | $249,500

WillTveit.com | Buy - Sell - Invest

Will@dreamtown.com | 312.498.8348

Bright and Sunny 2 bedroom, 2 bathroom town home with “BONUS ROOM". 

Open and airy 3-level floor plan that is flooded with sunlight with both eastern and western exposures! 

Freshly painted throughout! Stainless-steel appliances, 42” maple kitchen cabinets, hardwood floors, gas fireplace, marble counter-top vanity in top floor bathroom, ceiling fans in living room and both bedrooms, gated front yard, balcony sundeck and an attached private 1 car garage! 

Just steps from public transportation Including both the Metra and L-train lines, as well as bus line outside front step. Home is ideally located between both Northwestern and Loyola universities, and minutes from the lakefront, parks and public golf course.

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WillTveit.com | Buy - Sell - Invest

Will@dreamtown.com | 312.498.8348

Rent or Buy: Either Way You’re Paying A Mortgage

There are some renters that have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either your mortgage or your landlord’s. As The Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return.   That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” Christina Boyle, a Senior Vice President, Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent: “With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.” As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity. The graph below shows the widening gap in net worth between a homeowner and a renter: Bottom Line Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting.   I’m an expert in providing a rent vs buy comparison to any possible leads looking to buy.    Let me help you make three to four more sales this year. WillTveit.com  |  BUY - SELL - RENT - INVEST  |  Will@DreamTown.com WillTveit.com  |   BUY - SELL - RENT - INVEST  |  Will@DreamTown.com

Will Tveit | Dream Town Realty | 5-Star Premier Agent

Will Tveit | MBA - Broker Associate - Realtor - Agent

Dream Town Realty | Chicago - Evanston - North shore

WillTveit.com  |  will@dreamtown.com

Church Street Station Condominiums  |  Evanston, Illinois

1640 Maple Avenue

Evanston, Illinois 60201

www.1640MapleEvanston.com 

Church Street Station Condominiums | Downtown Evanston - North Shore

Will Tveit | MBA - Broker Associate - Realtor - Agent
WillTveit.com  |  will@dreamtown.com


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Open House this Sunday, December 6th, from 11 AM to 1 PM | 8548 Gross Point Road, Skokie

6 bedrooms 3 bathrooms, 3 car garage, amazing custom upgrades! MUST SEE!

Price Reduced to: $499,900!

Will Tveit | MBA - Broker - Realtor - Agent

Dream Town Realty | Evanston - North Shore

WillTveit.com | Will@DreamTown.com

WillTveit.com  |  Email Will Tveit | Broker - Realtor - Agent | Dream Town

YouTube Video:  Will Tveit | Dream Town Realty

Good to know: Will Tveit is your real estate expert!

Good to know: Will Tveit is your real estate expert!

My Homepage: WillTveit.com | My Email: Will@dreamtown.com