Mike Frank's Real Estate Update
Your Chicago Real Estate Consultant:

Mike Frank
February 2019
Making Your Move Matter

Is It Time to Go Green in 2019?

  What was once embraced by the fringes is today a major lifestyle trend impacting everything from land development to retail to food production. When it comes to homebuilding, real estate, and associated industries, the eco-friendly focus is more pervasive than ever. Green Home Builder did a Green Home Design Year in Review, which we expanded into a look at the biggest trends in eco living.
     Not just millennials - “This year, we saw an even greater interest from homebuyers to seek out a potential home that offered green sustainable features,” said Green Home Builder. “These

Mortgage Rates
U.S. averages as of Jan 24, 2019:

30 yr. fixed:   4.45%
15 yr. fixed:   3.88%
5/1 yr. adj:     3.90%

View current rates

potential homebuyers included not just your typical ‘younger generation millennial’ type buyer, but spanned across a multitude of generations. They ranged from millennials, to Gen-X-ers, up

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5 Reasons to Buy a Fixer-Upper Instead of a Perfect Place

     "Location, location, location” is the mantra when it comes to where to buy a home. But when it comes to what to buy, it gets a little more complicated. There is definitely a contingent who would insist that you would buy the best home you can afford. But while there is something to be said for buying a move-in ready home, a place that needs a little love can be downright irresistible.
      You don't have to go all Chip and Joanna here, but buying a fixer-upper makes sense for so many reasons.
     It costs less- “Fixer-uppers list for an average of 8% below market value,” said LearnVest. If you’re on a budget or are being priced out in your market, this is a way to get a literal foot in the door. How much depends greatly on the location. “Fixer-uppers in Phoenix have the smallest cash discount, saving buyers just $1,000 off list price.

Upcycling: If It’s broken, It Can Be Fixed

     Upcycling is a fun way to freshen up your space, create a conversation piece, exercise your creativity and help the environment at the same time. Just be careful that you don’t become a hoarder.
     You’ve seen the commercial -- the forlorn lamp sits sadly by the curb in the rain. A man says, “Many of you feel bad for this lamp. That is because you’re crazy. It has no feelings and the new one is much better.”
     But to many, the old lamp is a treasure waiting to be upcycled into something special. Ditto for the old furniture and other discarded items in the trash, or at the local thrift shop. One man’s trash and all that.
     Treasures-to-be can also be found in your own home. “Learn to look at things differently before going out and buying something new” or throwing something away, says Adam Fullerton, Toronto fabricator and upcycler extraordinaire.
     Think outside the box. Can it be reused for another purpose? If it’s broken, can it be fixed or configured into something spectacular?
     “Reusing is better than recycling,” he says. “It can also save you pennies along the way.”
     Upcycling is a fun way to freshen up your space, create a conversation piece,

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7 Ways to Save Money on New Construction

     You can negotiate on the price of a resale home but the price is the price on a new construction home, right? Generally, that’s true. Builders don’t like to discount their homes. But, a price reduction isn’t the only way you can save when buying a brand-new home. Use these tips and tricks and you might be able to get a better deal than you thought possible.
     Bring a real estate agent
     New-home buyers—especially those who have never purchased a home before, let alone new construction—may not be aware that they can use a real estate agent for their purchase. Many new-home communities also offer a broker co-op to real estate agents. And using a Realtor is the best way to ensure that you are getting the best deal because he or she will negotiate on your behalf, finding out about any available concessions the builder is willing to make to sell you a home.

Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.

More Articles

January Round Up: Rates Stable

The Smartest Smart Home: Five Things to Buy Now that Will Help Sell your Home

Six Ways to Make Yourself Happier at Home

Thinking of Carrying Back a Mortgage For Your Buyers?

Mike Frank, GRI
E-mail: mikefrankkw@gmail.com
Web: http://www.mikefrankrealtor.com

Keller Williams Preferred Realty
939 W. North Ave. Suite 750
Chicago, IL 60642

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Michael J Frank
Michael J Frank
GRI, Broker