real estate agent in mchenry county
Housing a good investment up from 58.5% to 63.2%
Renters and home owners both expect prices to continue to increase in the coming year, but renters expect to face more price growth, according to a consumer survey by the New York Federal Reserve Bank, which asked respondents about the price expectations of homes in their ZIP code.
Both renters and home owners expect home prices to increase by 4.4 percent over the next 12 months. The average home price growth expectations among renters was about a percentage higher than those of owners. The average year-ahead expectation for renters was 5.2 percent – compared to 4.1 percent for home owners, the survey showed.
REALTORS® are also growing more upbeat, expecting prices to increase at a slightly faster pace in the next 12 months, according to the latest REALTORS® Confidence Index. Those surveyed expect the median price growth in the next 12 months to be 3.9 percent nationwide. Colorado REALTORS® reported the highest price expectations, with median growth expected at 6 percent, followed by the District of Columbia at 5 percent. REALTORS® also expected some of the highest increases in home prices, averaging 4 to 5 percent, in Washington, Oregon, Nevada, Florida, Georgia, Michigan, Hawaii, and New Hampshire, according to the survey.
As prices grow, consumers’ attitudes toward housing as a financial investment remain positive, according to the Fed survey. More than 60 percent of renters and owners believe that buying a property in their ZIP code is a good investment, while only 10 percent considered it a bad investment. What’s more, the percentage of home owners who believe housing is a good investment rose from 58.5 percent in the 2014 survey to 63.2 percent in the most recent survey.
Source: “Fed Survey: Renters More Bullish on Prices Than Owners,” RISMedia (June 7, 2015) and “REALTORS® Confidence Index,” REALTOR.org (April 2015)
Have a Happy and Safe 4th of July Huntley!
Happy 239th Birthday to the United States of America. I hope that everyone enjoys their holiday.
As you head to the beach, a parade or to celebrate with family and friends to BBQ, please remember to appreciate the meaning behind this special holiday. Celebrate the great country that we live in and the freedom we so often take for granted. Many of our neighbors, family and friends have served in the military including my wife, and I am very thankful. Their commitment, courage and dedication to protecting our freedom does not go unrecognized!
Celebrate our troops, our country and our freedom by heading to one of the MANY fireworks displays in the McHenry County area.
Huntley 4th of July Fireworks
Cary Summer Celebration
1200 Silver Lake Road
in Cary, Illinois 60013
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Woodstock July 4th Fireworks
900 W. South St
in Woodstock, Illinois 60098
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Chain-O-Lakes Fireworks
Pistakee Bay Fireworks
801 W. Oak Grove Road
in Johnsburg, Illinois 60051
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McHenry July Fourth Fireworks
4300 Petersen Park
in McHenry, Illinois 60050
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Spring Grove 4th of July Celebration
8105 Blivin
in Spring Grove, Illinois 60080
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Wonder Lake 4th of July Celebration
E Lakeshore Drive
in Wonder Lake, Illinois 60097
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Lakeside Festival Fireworks
401 Country Club Road
in Crystal Lake, Illinois 60014
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Fox River Grove Celebration
[600-699] Birch Lane
in Fox River Grove, Illinois 60021
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Algonquin Founders Day
1401 Compton Dr
in Algonquin, Illinois 60102
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Lakemoor Fest
110 S Lakeshore Dr
in Lakemoor, Illinois 60051
What is Escrow?
You’ve probably heard the term: documents are held “in escrow” or that the parties have “opened escrow.” The principals of the escrow (Seller, Buyer, Lender) will give to the escrow holder written instructions setting out the terms and conditions under which the further delivery is to be made.
Escrow is the depositing of funds and documents that establish the terms and conditions for the transfer of property ownership with an impartial third party for delivery upon completion of the terms of the escrow instruction.
The Escrow Officer holds responsibility for seeing that these terms are adhered to.
Who Chooses The Escrow Company?
The selection of escrow is typically done by agreement between the principals. In most areas of the country, the Seller typically makes the selection but it does vary. Often times, this aspect of a transaction is directed toward the Seller’s preference because if a home has fallen out…
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