How we helped Damon Caliendo sell his home during the holidays.

"The results I got were a lot better considering the time of the sale.  We put the house up for sale a week before Christmas and Anant was sure to let us know ahead of time that we were selling at a slow period.  For when we sold, everything was on point, or better than expected.  I haven't sold a house in years and was not sure what exactly to expect, especially selling in the dead of winter.  It went smoothly, both my brother and I were very pleased from start to finish.  Anant was very precise and direct with his emails.  Everything was said and done to a tee!"

-Damon Caliendo, home seller

How Will New TRID Changes Affect Your Chicago Home Purchase?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today I have Rick Pantoga with me, my local mortgage lending expert here in Chicago. He's going to be explaining some important changes that the real estate market will be experiencing this year. He's been in the business for 29 years, so he's seen both the good and the bad.

On October 3rd of this year, the real estate market saw some big changes. What exactly happened?

It's because of the recent changes that came to the TILA-RESPA Integrated Disclosure (TRID), and this will affect everyone involved in real estate, from consumers to Realtors to lenders. The Consumer Financial Protection Bureau (CFPB) issued a final rule amending regulations the Truth in Lending Act as well as the Real Estate Settlement Procedures Act.

So, what does this mean for you? The TILA-RESPA rule consolidates four disclosures for closed and credit transactions secured by real property into two different forms.

One of these forms is a loan estimate that must be delivered or placed in the mail no later than the 3rd business day after receiving the consumer's application. A closing disclosure must be provided to the consumer at least three business days prior to consummation.

These new disclosures must be provided by a creditor or mortgage banker that receives an application from a consumer for a closed end credit transaction.

The TILA-RESPA rule includes some new restrictions on certain activity prior to consumers receiving the loan estimate. These restrictions include imposing fees on a consumer before the consumer has received the loan estimate, or requiring submission of documents verifying information related to the consumer's application before providing the loan estimate.

Please don't hesitate to contact us with any questions about this issue. We understand that it may seem a little confusing or overwhelming. We would be happy to clear up any misconceptions that you may have!

What's the Secret to Selling Homes in Chicago?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today I want to talk about the importance of staging your home when you sell it in Chicago. It's a very easy way to maximize your sale price in Chicago.

I had a 3 bedroom duplex property in Humboldt Park, and the owner paid $1,500 to have it staged. This included consultation and the design elements such as the furniture. This particular client was even staying there while it was staged, and he said that the stagers were very courteous and stayed out of the way as much as possible.

As you can see, the staging really makes the unit pop, and the buyers commented on the design elements. This leads me to believe that it played a significant role in their decision to purchase the property.

So, what was the return on the investment?

Well, a similar duplex nearby sold for $335,000, but my client's apartment managed to sell for $362,500. That's a difference of nearly $28,000. My property sold for 94% of the list price.

My client spent $1,500 and got $28,000 back. I'd say that's an investment worth making!

If you want to get the listing or staging process started, please don't hesitate to contact me! I know a wonderful stager and would be happy to put you in contact.

I look forward to speaking with you!