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Why Buy Now?

by Kandace Conn, Team Leader/Transaction Manager

There may have never been a better time in real estate past to purchase a home based on rising rents, list prices and mortgage rates. Below you will read about the reasons that we believe you should buy now.

Starting off, the supply of homes on the market is decreasing. So, with inventory declining, finding your dream home could be more difficult than you expected going forward. Don’t be surprised when there is no longer a huge collection of homes to choose from. But with that being said, the finest homes in the best locations are going to sell first, so you won’t want to miss the chance to get your chance to buy your dream home.

The housing market is slowly but surely picking itself back up, so price increases are on their way. The median price is a record low of $154,600 according to the National Association of Realtors. Many pricing catalogs are reporting that prices will continue to rise, so now is the time to buy.

In this current market, it is less expensive to buy rather than rent. Statistics show rent is supposed to increase by 3.2% on an annual basis. This past year Trulia reported that rents this year have increased by 5.4% instead and are projected to rise by 4% for the next two years. So with home prices being at record low, buying a home is now more within reach for middle income families.

Mortgage rates are at record lows and projected to rise to 4.4% by the end of 2013, which is an increase of roughly one point of what the current rates are. With mortgage rates where they are now, it has helped push housing affordability better. 

Ever Wonder Where The Best Places To Live Are?

by Kandace Conn, Team Leader, The "Stick With Steve"

Ever wonder where the best places to live are?

Here are a couple of reasons why we believe that Arlington Heights, IL is the best places to live in the United States. Arlington Heights is widely known for its racetrack, which was founded in 1927 by Harry Brown. 

Arlington Heights Real Estate has experienced a current boom in expansion of condominium homes. Recently, restaurants and other businesses have expanded in the downtown area of Arlington Heights, IL, with restaurants having the most success. The downtown area of Arlington Heights is best known for its nightlife not to mention how family oriented it is with the variety of events that are put together by the village.

But, according to CNN Money, these are the winners below.

1. Carmel, IN (Population: 80,100) This city is filled with excellent schools, a performing arts center and a huge sports and recreation center. There is a appealing draw for families with the variety of the housing options.

2. McKinney, TX (Population: 136,100) Established in 1848, McKinney is one of northern Texas' oldest towns. Take a stroll through the downtown and you will see that the old cotton mills and feed stores have now been transformed into hip boutiques and art galleries.

3. Eden Prairie, MN (Population: 61,200) Invigorating mixture of wonderful employment prospects, natural exquisiteness, and a well-educated labor force. It has also had a healthy budget surplus of 2% the precedent two years.

4. Newton, MA (Population: 84,700) One could say that the people in Newton are fixated with education considering the city is separated into 13 villages built around elementary schools, and also being home to prestigious universities.

5. Redmond, WA (Population: 55,200) Microsoft's hometown is an perfect start for exploring the Northwest with Seattle just 15 miles to the west, the Cascade Mountains a short drive to the east, and more than 90 wineries to the north.

6. Irvine, CA (Population: 213,600) Irvine has all the surf, sand, and sun Southern California is recognized for, with 44 miles of bike trails, a beach 10 miles away, and 20,000 acres of parks and preserves.

7. Reston, VA (Population: 60,300) Thanks to Robert Simon, famed master planner, houses of all different sizes and shapes sit next to one another in this town. There are plenty of activities as well, from an über-urban downtown to 55 miles of bike paths, 52 tennis courts, and 15 pools.

8. Columbia/Ellicott City, MD (Population: 100,700) Living on the border of Columbia and Ellicott City offers the best of both worlds. Families on the border of these unincorporated cities get to take pleasure in living in a community with a diverse population, practical housing costs, excellent schools, miles of hiking trails, and a new development, Blandair Park.

9. Overland Park, KS (Population: 175,300) There's no lack of town spirit in Overland Park. Residents and visitors alike gather to the bi-weekly farmers' market which is known as one of the best around. You will also enjoy the 300-acre arboretum, world-class soccer fields and a re-created turn-of-the-century family farm.

10. Chapel Hill, NC (Population: 59,000) Locals aren't exaggerating when they refer to Chapel Hill as a "town within a park." The area has a rain forest-like charm and the roads wind through tunnels of arching trees. This town is also home to the nation's oldest public university, and fascinating educational opportunities abound.

Interesting Fact: The high school scenes of the 2010 version of A Nightmare on Elm Street were actually filmed at John Hersey High School.

 

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