Chicago Real Estate News & Neighborhood Notes - Chicago First Time Home Buyer News

Low Interest Rates Will Be a Key Factor In Creating a Competitive Buyers Market in 2020

Recent financial forecasts show that due to interest rates still being at historically low levels, home purchases are likely to elevate in 2020, especially among young and first-time home buyers. In fact, Washington D.C.-based Mortgage Bankers Association is also estimating that mortgage origination will grow 1.6% next year while home prices could in fact drop 2020, leading to more availability and options for buyers to consider.     

A strong job market is also helping home buyers obtain more purchasing power and placing more first time buyers in a position to finally make the transition to home ownership.

Anywhere between 8.3 to 9.2 million first-time home buyers are projected to become homeowners in the next 3 years, according to credit bureau…

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Millennial Generation Expected to Drive Home Sales in 2020

If you're looking to buy your first home or condo next year, chances are you won't be alone in your quest to transition from renting to owning in 2020.

In fact, millennials are expected to drive the U.S. housing market forward more than ever before with large volumes expected to either purchase their first home or perhaps even relocate from urban areas to the suburbs, according to multiple economic forecasts.

While it seems like we've heard this story before, the millennial home buying movement in 2020 is expected to be fueled by the expectation of mortgage rates remaining low for the duration of the new year. According to a recent market analysis by Transunion, the number of new mortgages that will be extended to first time buyers is projected to…

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Ways To Improve Your Credit Score Before Applying For a Mortgage

If you’re planning to buy a home or condo for the first-time in the near future, your credit score is going to play a big role in the process. While there isn’t a uniform algorithm or equation used by lenders and other financial companies, your credit score tends to be similar across the board and is based on a variety of factors.

For now, we won’t take a deep dive into how a credit score is determined. But if you’re somebody that already knows your credit score could use some work, here’s a quick look at several ways to make that happen.

Pay Your Bills on Time

It sounds easy but paying your bills on time will have a positive impact on your credit score. Payment performance is usually a strong indicator of what type of borrower you are and what kind…

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River North Condo Buildings First-Time Home Buyers Should Consider

Planning to be in the market for a River North condo as a first-time home buyer? Take a closer look at several top buildings that won't break the bank...

Marina Towers

Marina Towers, designed by the architect, Bertrand Goldberg are often referred to as Chicago’s round towers, the corn on the cob, or the corn cob buildings. There are a total of 896 condos ranging from studios to 3 bedrooms. The studios have 500-600 sq ft,  the 1-bedroom condos have 575-800 sq ft, the 2-bedroom condos have 1,200-1,500 sq ft, and the 3-bedroom condos have 2,500 sq ft. Amenities at Marina Towers include a 24 hr. door staff, gym, bike room, sundeck, and storage. Marina Towers is one of the few condos in Chicago with its own boat dock. The building also has the…

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Combine Affordability with Desirability at These Old Town Condo Buildings Heading into 2020

Planning to be in the market for a new Old Town condo soon? Take a closer look at several condo towers in the neighborhood that combine affordability and desirability below...

1212 N. LaSalle

Found at 1212 N LaSalle, LaSalle Private Residences offers a desirable location and some incredible views. The modern building also supplies a gym, optional indoor parking and 24-hour door service, with some affordable one-bedroom floor plans currently on the market.

88 W. Schiller

Lowell House is another Old Town condo building to check out. Located at 88 W Schiller the property has studio, one-, and two-bedroom floor plans on the market, some of which have been newly renovated.

1555 N. Sandburg Terrace

Found at 1555 N Sandburg Terrace, Kilmer…

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Chicago’s Top Loft Buildings For First Time Home Buyers

Looking for a chic new loft as a first-time home buyer in Chicago? Get your search started below...

Paramount Lofts

Paramount Lofts, located at 1645 W. Ogden Ave is an impressive loft building in the desirable area of the West Loop. The building was built in 2007 and is located close to public transportation like the blue/pink/green lines, the medical district-Rush/UIC, lush parks, the United Center, and a variety of restaurants. Owners within the Paramount Loft enjoy amenities such as; 24-hour door person, roof top deck, exercise room, community room, on-site staff, and dry cleaning. 1-bedroom, 1-bathroom units, complete with hardwood plank floors, modern appliances, large industrial windows and a spacious balcony, are averaging around $240K right…

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Logan Square’s Top Loft Buildings First Time Home Buyer Should Consider

Are you a first time buyer looking for a one-of-kind Loft Building? Logan Square is packed with options that you'll want to take a detailed look at. Read below for a summary of 3 of the best options out there right now.

Positioned at 2911 N. Western is a modern loft building with riverfront views and private access to the Riverwalk. This boutique loft conversion is located directly in the bustling location of Logan Square and is packed with charming loft elements. The interior features include; exposed brick and timber beams, huge windows, hardwood floors, and lots of relaxing natural light. Residents here have everything they need for entertaining guests or quietly relaxing after a long week. The building has an elevator and also features an attached…

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