The Reality Realty

Wednesday, October 19, 2011

How It Was...How It Is & How It Looks!

By Mon Sherie, Contributor

Remembering the great days of Real Estate.... homes moving fast, loans closing at the speed of light, rates low and anyone with a pulse could just about get a loan!

Fast forward to today and it looks like.... homes sitting for months to a year, loans close at a snails pace, rates still fairly low (but harder to get) and even the semi stronger pulse may get turned down for a loan! Well with that said, this lil infograph will put more of a light of just how tough it is out there!

(Click On Map To Enlarge & Read Short Article)

Good Old Real Estate Days ......"They Reminisce Over You"

Chicago Mayor Proposed Water Hike!

By Mon Sherie, Contributor

The City of Chicago is definitely in need of money to overcome their financial troubles! Chicago Mayor Rahm Emanuel has proposed a budget that calls for a whopping 70% hike in Lake Michigan water rates over the next four years. This proposal will increase the price of Lake Michigan water by 25% in 2012 and then by 15% each year for three years.

Majority of the suburbs of Chicago gets their water from Lake Michigan and this rate hike will increase water bills for much of the suburbs of Chicago that uses Lake Michigan water as their main source.

The new proposed rate hike in water will further put a squeeze on the financially strapped Chicago suburban consumers. Homeowners and renters can now add this substantial increase to their ever increasing sustenance living expenses.

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Wednesday, October 12, 2011

Has The American Dream, Gone Up In Smoke?

By Mon Sherie, Contributor

As home prices continue to fall and the labor markets remain weak, low rates are not enough to make buyers want to get into the housing market anytime soon.

Families are actually opting out of homeownership and are turning to renting homes instead of taking out a mortgage to own them. As it gets tougher and tougher to qualify for a mortgage to buy a home the American Dream of Homeownership is falling.

If families opt out of homeownership the real estate industry will have a much harder time rebounding from the suppressed real estate market. That is why it is important that the real estate industry find ways to create an environment where homeownership is sought after.

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