Mortgage interest rates have gone up significantly over the past three months, and the changing market has certainly impacted many buyers. But being financially prepared and planning for current and future market conditions can offset much of the uncertainty that accompanies rising rates. Dan Moran, executive vice president of sales for mortgage banker Proper Rate, reminds us that a little perspective can help too. According to Moran, though the national average 30-year fixed rate is now around 6%*, that’s still more than 1.5 points below the 50-year historical average.

Following are some helpful suggestions as you embark on – or continue – the search for your dream home.

In addition to planning ahead, a little creativity can go a long way when submitting an offer to purchase a new home, especially when inventory remains low amid intense buyer demand. Assuming your offer is competitive financially, here are a few more suggestions that will help you stand out to a seller.

Get Pre-Approved

Cash has always been the gold standard when evaluating competing offers; however, for most buyers, forgoing a mortgage isn’t an option. That’s why getting pre-approved is essential. With their exclusive Proper Approval program*, Proper Rate gives buyers an even bigger leg up by not only pre-qualifying an individual but approving and underwriting the mortgage ahead of time. This can be just as attractive as having cash in hand.

Spring 2022 continues to be a strong sellers’ market throughout most of @properties Christie’s International Real Estate territory including Chicagoland, Northwest Indiana, Southwest Michigan, and Southeast Wisconsin. To gain an understanding of overall and local market trends, and how both buyers and sellers can best prepare, we asked the following managing brokers from @properties Christie’s International Real Estate to offer their guidance.

The resort-home communities of Michigan, Indiana, and Wisconsin are known for being popular vacation destinations for Chicagoans. But their appeal isn’t limited to summer getaways, and that was never more apparent than when COVID-19 hit this spring. Many people with second homes in the area chose to shelter in place there. Others were inspired to find a retreat in the area once restrictions lifted and market activity picked up.

Should you buy or rent? This is a fundamental question facing many potential homebuyers, particularly first-time buyers. While there are circumstances in which renting might make more sense (e.g. if more flexibility is needed), there are a number of key advantages when it comes to homeownership. Here are five benefits to being a homeowner today:

With a renewed focus on the value of home and a desire for more space, buyers are eyeing this summer’s real estate market with great interest. But, amid the changes brought on by COVID-19, many homebuyers also have questions about how to move forward – from getting a mortgage approval to safe showing procedures and from making an offer to navigating the attorney review and closing processes. So in this special edition of @ The Market, recorded in mid-May, @properties co-founders Mike Golden and Thad Wong are joined by a range of industry experts to shed light on the homebuying process today.

As the COVID-19 crisis continues to evolve, volatility and uncertainty have swept through the financial markets.

Borrowers saw wild swings in interest rates over the last few weeks and were left to wonder whether they could still qualify for specific loan amounts and close on pending transactions.

Amidst the chaos, Guaranteed Rate has been a steady ship in rough waters. We asked them to answer a few questions pertaining to the impacts market volatility has had on the mortgage industry, and they responded with some helpful guidance. Read, share, enjoy and contact your trusted Guaranteed Rate loan officer with any questions.

Just as home sellers have been thrown for a major loop by COVID-19, many of today’s buyers are suddenly wondering how or even if they should proceed with their home search.

In an encouraging sign, a number of @properties homebuyers have in fact closed on purchases and gone under contract in recent days. But questions about safety, near-term financial impact, and changing personal situations have, understandably, forced many buyers to take a step back.

Some might say millennials are fashionably late to the homeownership party, but they are about to arrive in a big way if you ask @properties co-founders Thad Wong and Mike Golden. In the latest installment of @properties’ @ the market webcast, the two agree that the next 10 years in real estate will be largely shaped by the generation’s shift to homeownership.

Although it certainly doesn’t feel like spring in the Midwest, the busy spring housing market is well underway.

With more buyers in the market than any other time of year (generally speaking), preparation is key to having a successful outcome and beating out the competition. Here are a few things you can do to have the smoothest possible buying experience:

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