Pier Pressure: 5 Homes for Boat Lovers
@home » Real Estate
by @properties
3d ago
Casting a line into the glassy pre-dawn water, carving graceful turns behind a ski boat, or cracking a cold one and floating all day on a pontoon…however you enjoy it, lake living can’t be beat. And here in the Midwest, we pretty much wrote the book on the lifestyle. That’s no surprise considering this part of the country is home to the Great Lakes, the Land of 10,000 Lakes, the Chain O’ Lakes, and a whole bunch of other lakes. From large spring-fed lakes like Geneva in Wisconsin, to small private lakes along the Illinois-Wisconsin border, to the inland ocean of Lake Michigan, Midwesterners ha ..read more
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Home Design Trends that Gen-Z Buyers Love
@home » Real Estate
by @properties
3w ago
When it comes to buying a home, today’s Gen Z shoppers have very different expectations than their Gen X and Boomer parents. According to the most recent Christie’s International Real Estate Luxury Forecast, this next-gen homebuyer is all about smart, sustainable, and easy living. If you’re thinking about selling your home, it’s important to keep those must-haves in mind and prepare your property for this dynamic new buyer persona. Here’s where to start: #1. Introduce smart tech Smart home technology is no longer a nice-to-have. More than 85% of Americans now own at least one smart home device ..read more
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What You Can Get Around Chicago for $2 Million
@home » Real Estate
by @properties
1M ago
How much house can you buy with $2 million in the Chicago area? With an impressive budget of around $2 million, buyers can expect to have their pick of upscale homes featuring lavish amenities, coveted Lake Michigan or skyline views, and more. And despite higher borrowing costs at the outset of the 2024, the real estate market is still buzzing at this price point, with the number of transactions between $1.8 million to $2.2 million in Chicagoland increasing 23% year-to-date vs. the same period last year. * From a rehabbed historic Lincoln Park home to an expansive mid-century modern masterpiec ..read more
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It’s Time To Vote No on Bring Chicago Home
@home » Real Estate
by @properties
3M ago
Higher property taxes, higher rents, stalled investment and revenue shortfalls await Chicago if the new transfer tax is enacted. Since we last posted about Chicago’s proposed new real estate transfer tax, known as Bring Chicago Home, a lot has happened around the issue. In late February, a circuit court judge ruled that the ballot measure violated Illinois election law because it attempted to push through an unpopular proposal (raising taxes on some individuals) by bundling it with a popular one (lowering them on others). But recently, the Illinois Appellate Court reversed the ruling, putting ..read more
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Maximizing Your Tax Benefits: A First-Time Homeowner’s Guide to Tax Season
@home » Real Estate
by @properties
3M ago
Navigating tax season can be challenging, especially when you’re a first-time homeowner. The good news: you’re likely entitled to additional tax benefits – from major deductions to perks for building that new home office. The key, though, is understanding what you can claim and, from there, ensuring you maximize the savings – and minimize your tax bill. The transition from renter to homeowner introduces a suite of potential tax benefits that, if leveraged correctly, can significantly reduce your tax bill. Start here: 1. Mortgage Interest Deduction One of the most significant tax benefits of ho ..read more
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6 Takeaways from the Christie’s International Real Estate 2024 Luxury Forecast
@home » Real Estate
by @properties
3M ago
From the rise of ‘quiet luxury’ to the growing influence of Gen Z, Christie’s International Real Estate identified several trends that are shaping the luxury real estate market in 2024. Those trends are detailed in the brand’s recently released Global Luxury Real Estate Forecast. The report is based on surveys and interviews with Christie’s International Real Estate affiliates from more than 20 countries. Read on for the forecast’s top takeaways. Mansion Taxes Aren’t All That A growing number of North American cities are counting on taxes on 7-figure home sales – often called mansion taxes – t ..read more
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A Guide to Home Equity Lines of Credit (HELOCs)
@home » Real Estate
by @properties
3M ago
As your mortgage balance declines and your property value increases, you accumulate equity in your home. This is a form of wealth that you can tap into and use to pay a variety of expenses. “Home equity is more than just a number,” explains Jo Ann Theriault-Fazio, SVP of Mortgage Lending & National Sales Director at Proper Rate. “It’s a reservoir of potential that, when tapped wisely, can transform your financial landscape.” “Tapped wisely,” though, is key. What’s a HELOC? A Home Equity Line of Credit (HELOC) is a common way to quickly and easily tap into your home’s equity. HELOCs typical ..read more
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What Mansion Tax Proponents Don’t Want You To Know
@home » Real Estate
by @properties
3M ago
The Johnson administration is pitching its new “Mansion Tax” as a tax on wealthy homebuyers, but it’s likely to cost the average Chicago homeowner thousands in increased property taxes. UPDATE: On February 23, a Cook County Circuit Court judge blocked Chicago’s Real Estate Transfer Tax Referendum from the ballot on the grounds that the referendum, as structured, violates state election law. The ruling is likely to be appealed. Please read on for more information about proposed changes to Chicago’s Real Estate Transfer Tax. On March 19, Chicagoans will vote on a ballot measure to change the str ..read more
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Spring into Action: 6 Essential Questions for Prospective Homebuyers
@home » Real Estate
by @properties
4M ago
Although it doesn’t feel like spring in the Midwest, the busy spring real estate market is underway. And with more competition, it’s important for prospective homebuyers to get their priorities in order before they start touring homes and neighborhoods. If you’re among those buyers, ask yourself: 1. What’s my financial comfort zone? It’s essential to have a clear understanding of your budget. Beyond the purchase price, you’ll need to factor in expenses like closing costs, property taxes, homeowners insurance, and home maintenance, to name a few. Reach out to a loan officer to discuss your fina ..read more
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Understanding Condo Loans: A Guide for Homebuyers
@home » Real Estate
by @properties
4M ago
Home loans are anything but one-size-fits-all. From conventional loans to jumbo loans to adjustable rate mortgages, and more, borrowers come to the table with diverse needs – and it’s your loan officer’s job to connect you with the right mortgage for your situation. But many people don’t know that there’s a different category of mortgages for condominiums. And navigating that terrain starts with understanding of the legal definition of a condominium. “A condominium declaration is a legal designation for an individual unit within either a building or complex of buildings,” explains Joe Burke, S ..read more
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