Realty Executives Midwest
If you tried to buy a home a few years ago, you probably still remember the frenzy. Homes were listed one day and gone the next. Sometimes it only took hours. You had to drop everything to go and see the house, and if you hesitated even slightly, someone else swooped in and bought it – sometimes even sight unseen.
That kind of intensity pushed a lot of buyers to the sidelines. It was stressful, chaotic, and for many, really discouraging.
But here’s what you need to know: those days are behind us.
Today’s market is moving slower, in the best possible way. And that’s creating more opportunity for buyers who felt shut out in recent years.
According to the latest data, homes are spending an average of 58 days on the market. That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days (see graph below):
That means you now have more time to make decisions than you have at any point in the past five years. And that’s a big deal. Now, you’ve got:
Time to think.
Time to negotiate.
Time to make a smart move without all the pressure.
Based on the data in the graph above, you have an extra week to decide compared to last year. And nearly double the time you would have had at the market’s peak.
Back then, fear of missing out drove buyers to act fast, sometimes too fast. Today, the pace is slower, which means you’re in control. As Bankrate puts it:
“For years, buyers have been racing to snag homes because of the fierce competition. But the market’s cooled off a bit now, and that gives buyers some breathing room. Homes are staying listed longer, so buyers can slow down, weigh their options and make more confident decisions.”
With more homes on the market and fewer buyers racing to grab them, the balance has shifted. Bidding wars aren’t as common, and that means you may have room to negotiate. And you can actually take a breath before you make your decision.
But, and this is important, it still depends on where you’re buying. Nationally, homes are moving slower. But your local market sets your real pace. Some states are moving faster than others. It may even vary down to the specific zip code or neighborhood you’re looking at. And that’s why working with an agent to know what’s happening in your area is more important than ever.
To see how your state compares to the national average (58 days), check out the map below:
As Realtor.com explains:
“While national headlines might suggest a buyer’s market is taking hold, the reality on the ground depends heavily on where and what you’re trying to buy. Local trends can diverge sharply from national averages, especially when you factor in price range, property type, and post-pandemic market dynamics.”
A smart local agent can tell you exactly when to move fast and when you can take your time, so you never miss the right home for you.
If the chaos of the past few years drove you to hit pause, this is your green light. The market’s pace has shifted. You have more time. More options. More power.
And with the right agent guiding you, you’re in the best position you’ve been in for years.
Connect with a local agent to talk about what the pace looks like in your area, and if now could be the right time for you to re-enter the market.
Source:Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Buying your first home feels like reaching a finish line, but it’s really a new beginning. There’s no property manager now, no one else to manage the repairs, or make seasonal calls. Maintenance is your job, and while the list can seem endless, most tasks boil down to small things done consistently. Start with a few clear habits and you’ll avoid the late-night leaks and expensive emergency visits that haunt unprepared homeowners. Below are a few hidden responsibilities and essential checks, each one simple but important, that every new homeowner should know.
Start with the easiest win in terms of hidden responsibilities: replace your furnace filter every 1–3 months. When filters clog with dust and pet hair, your HVAC system strains harder than it should, which wears it down and inflates your energy bill. A clean filter helps the system breathe, keeps air flowing, and ensures the temperature inside your home matches the thermostat on the wall. Most filters slide out with no tools, and you can write the change date right on the cardboard frame. Treat it like brushing your teeth. If you ignore it, the problems sneak up slowly until one day they aren’t so small.
Once in spring and once in fall, schedule a professional to come out and look at your system. These visits are more than box-checking. The benefits of regular AC tune-ups include catching refrigerant leaks, testing electrical components, and cleaning coils, all of which help your system last longer. A tune-up won’t guarantee that nothing breaks, but it reduces the odds that your AC fails during the first hot week of summer. Some companies offer maintenance plans, which can save you a little money and make scheduling easier. It’s a small bit of effort that pays off when you’re not sweating through July.
If you’ve never cleaned a gutter, it’s easier than it sounds, and more important than it looks. When gutters clog with leaves, rainwater spills over and pools near your foundation, creating the perfect recipe for erosion, leaks, or worse. Professionals recommend you safely clean gutters in fall, even if you don’t have big trees nearby. Use a ladder, gloves, and a hose if needed. It’s a satisfying job when you finish and even more satisfying the next time it rains and the water flows away exactly as it should.
Walk through your home on a chilly day and feel around your windows and doors. That creeping chill near the baseboard or sliding door? That’s heat leaving your house, and money going with it. Most of the time, it’s an easy fix. You can air-seal drafty windows and doors using basic materials like weatherstripping, caulk, or foam tape. Not only will your house feel cozier, but your heating system won’t have to work so hard to maintain a comfortable temperature. Do it once a year and you’ll notice the difference every winter.
That sound of a toilet running long after a flush is more than an annoyance— this hidden responsibility addresses wasted water and wasted money. Fortunately, this is one of the easiest repairs a homeowner can learn. You can fix a running toilet using just a few parts from the hardware store, often without tools. Inside the tank, the culprit is usually a flapper, float, or fill valve, all of which are inexpensive to replace. If you can follow a recipe, you can fix a toilet. And once you’ve done it, you won’t be afraid to open the tank again.
Dryer fires aren’t common, but when they happen, lint buildup is often the cause. While most people clean the lint trap, few take time to inspect the vent duct that runs out the back. At least once a year, inspect your dryer vent annually to make sure lint hasn’t built up inside the hose or outlet. Unplug the machine, disconnect the duct, and clean it with a vacuum or dryer brush. This simple task can make your dryer work faster, use less energy, and, most importantly, reduce fire risk. It’s one of the few chores that protect both safety and savings.
There’s a piece of plumbing you may not notice, but it quietly protects your entire water system. Backflow preventers stop contaminated water from reversing direction and flowing back into your clean supply, which is especially useful if you have outdoor spigots or an irrigation system. In certain situations, like a sudden pressure drop, unprotected lines can pull pesticides, dirt, or bacteria backward through the system. That’s why many municipalities require them. Whether or not yours does, having properly installed and functioning backflow preventers is a smart way to protect both your water and your peace of mind.
Homeownership doesn’t come with a manual, but it does reward attention. Start to address hidden responsibilities with these basic tasks, make them part of your monthly or seasonal rhythm, and you’ll avoid the stress and expense that comes from reacting instead of preparing. You don’t need to fix everything today. Just keep an eye on what matters and tend to it before it breaks. That’s the real work of owning a home—not just having it but caring for it.
Source: Realty Executives
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth.
Last year, homes that sold with an agent went for almost 15% more than those that sold without one.
That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you.
A few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on your own. That’s because homes were flying off the market and buyers were pulling out all the stops. But that’s just not the case anymore. With more inventory than we’ve seen in years, we’re not in a “list it and they will come” market anymore. You need professional expertise.
A yard sign and some photos you take on your own won’t cut it.
Right now, the housing market is getting back to what most would consider a more normal balance of buyers and sellers, and that really changes the game. According to Realtor.com, the latest number of listings for sale was the highest it’s been in any month of July since 2019 (see graph below):
And while inventory growth is going to vary by local market, nationally, this graph shows the number of homes for sale is inching back toward normal.
With more listings available, that means buyers can be more selective. They’ll compare your home to others on price, condition, photos, location, and more. If yours doesn’t stand out, it will get skipped over.
Selling today requires the latest pricing strategy, expert prep work, professional marketing, and strong negotiation skills. And if you’re not bringing all of that to the table, chances are, you’re going to feel it in your bottom line.
That’s why even more home sellers are working with agents today. Data from the National Association of Realtors (NAR) shows a record-low percentage of homeowners sold without an agent last year. And the few sellers who tried to sell on their own realized their mistake pretty quickly.
According to Zillow, 21% of homeowners ended up hiring an agent anyway after struggling to sell on their own.
So, why take the risk? With a local pro, you’ll have:
An agent’s expertise isn’t optional anymore. It’s essential.
In a market with more listings and pickier buyers, many sellers who try to sell on their own end up working with an agent anyway. So why not start there?
Connect with an agent so you have a pro who knows exactly what it takes to sell your house in today’s market, for the best possible price, without leaving money on the table.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Buying your first home is a big milestone – and the right support is going to make it a whole lot easier.
Because while this process might be brand new to you, it’s not new to your agent. They’ve helped plenty of first-time buyers through it. They know what works, what actually matters, and how you can move through the process with a lot less guesswork.
Here are a few real-world tips based on that experience of helping other first-time buyers.
Rocket Mortgage says this is one of the most common mistakes first-time buyers make. And it’s easy to see why. Looking at homes online is fun. But doing it before you know your numbers? That’s risky. You don’t want to fall in love with a house that’s way outside of your financial comfort zone. That’s a fast track for getting frustrated.
Instead, find your agent and talk to a lender early – before looking at any houses. With your lender’s help, you’ll be able to get pre-approved for your home loan. That’ll give you a better idea of what you’ll be able to borrow. And it helps you set a realistic budget. Then, your agent will be able to make you a customized list of homes, so you’re only seeing what’ll work for what you can spend. More clarity, less frustration.
Remember, just because you can borrow up to a certain amount, chances are you won’t want to max that number out. It’s really important to avoid overextending your budget, especially in today’s market. Other housing expenses like home insurance, homeowners association (HOA) fees, and taxes are on the rise, and you need to factor those in. Bankrate offers this advice:
“When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home.”
So, lean on the pros for advice on expenses you may not be thinking of, so you can work them into your budget.
When you find the right home, it’s easy to get caught up in the excitement. But skipping the inspection just to make your offer look stronger is a gamble that could cost you.
Instead, work with your agent to schedule a real inspection. They’ll connect you with local pros, make sure it’s booked, and help you understand the results so you can negotiate repairs or ask for money off at closing, if needed. It’s better to invest in this time up front to avoid what could be thousands in surprise repairs later.
For a lot of buyers, this is where unnecessary pressure creeps in. But remember, you don’t have to land your dream home right out of the gate. That’s why it’s called a starter home. It’s a starting point, not your final destination.
An agent will help you explore all your options, including ones you may not have thought about. For example, a well-kept condo, a townhouse in a great location, or a house with good bones can be a perfect first step into homeownership. The goal? Get in. Start building equity. Then, grow from there.
Buying your first place is a big step, but it doesn’t have to feel like a step in the dark. Talk to an agent about where you’re starting from, what’s stressing you out (or holding you back), and what you actually need to know.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
If you’ve been watching the market, you’ve likely noticed a few changes already this year. But what’s next? From home prices to mortgage rates, here’s what the latest expert forecasts suggest for the rest of 2025 – and what these shifts could mean for you.
Many buyers are hoping home prices will come down soon. And recent headlines about prices dipping in some areas are making some people believe it’s just a matter of time before there’s a bigger drop. But here are the facts.
While home price growth is slowing down, that doesn’t mean we’re headed for a crash. As NAHB explains:
“House price growth slowed . . . partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined to ease upward pressure on house prices. These factors signaled a cooling market, following rapid gains seen in previous years.”
But experts say, even with that slowdown, prices will still rise this year at the national level. The average of 8 leading forecasters shows prices are expected to go up 1.5-2% in 2025 (see graph below):
That means, if you’re waiting for a major drop, experts agree that’s just not in the cards.
Keep in mind, while some markets are already seeing prices come down slightly, the average dip is just -3.5%. That’s a far cry from the nearly 20% decline the market experienced during the 2008 crash.
Plus, those small changes are easily absorbed when you consider how much home prices have climbed over the past few years. Data from the Federal Housing Finance Agency (FHFA) shows prices are up 55% nationally compared to just 5 years ago.
The takeaway? Prices aren’t crashing. They’re expected to keep climbing – just not as quickly these days. And some may argue they’ll be closer to flat by the end of this year. But, again, this is going to vary by market, with some local ups and downs. So, lean on a pro to see the latest price trends for your area.
Another common thought among today’s buyers is: I’m just going to wait for rates to come down. But is that a smart strategy? According to Yahoo Finance:
“If you’re looking for a substantial interest rate drop in 2025, you’ll likely be left waiting. The latest news from the Federal Reserve and other key economic data point toward steady mortgage rates on par with what we see today.”
In other words, don’t try to time the market or wait for a drop that may not be coming. Most experts say rates will remain in the 6s, and current projections have them settling in the mid-6% range by the end of this year (see chart below):
And that’s not a big change from where they are right now. So, if you need to move, let’s talk about how to make it happen and what you should watch for. Because while rates may not be as low as you want them to be, you don’t want to put your needs on the back burner, hoping for something the data shows isn’t likely to happen.
Working with an expert who is keeping an eye on all the economic factors that can influence mortgage rates is going to be essential this year. That’s because changes in things like inflation and other key drivers could impact how rates move going forward.
Whether you’re buying, selling, or thinking about doing both, this market requires strategy, not guesswork. Prices are still rising nationally (just more slowly), and rates are projected to stay pretty much where they are, so the bigger picture is one of moderation – not a meltdown.
If you want to make a move, your best bet is to focus on your personal situation – not what the headlines say – and work with a real estate pro who knows how to navigate the shifting conditions in your local market.
Source: Keeping Current Matters
Realty Executives Midwest
1310 Plainfield Rd. Ste 2 | Darien, IL 60561
Office: 630-969-8880
E-Mail: experts@realtyexecutives.com
Realty Executives agents are real estate experts. They have the education and expertise you need to navigate through the process of buying or selling a home. From listing at the right price to making the best offer, our Executives have witnessed the best - and most regrettable - decisions homeowners and homebuyers can make. Every day, they are immersed in every aspect of real estate that includes comparable home price analysis, property surveys, credit reports, open houses, HOA agreements, lenders, title companies, homeowners’ insurance, walk-throughs, terms of sale or purchase, repairs, concessions and closing documents. Let our accomplished Executives help navigate you through the process of buying or selling a home.
