Real Estate Information Archive
Displaying blog entries 1-3 of 3
Realty Executives Cornerstone was amongst the top ranking offices to be honored at the annual Realty Executives Great Lakes Region awards evening last month on February 26th. The formal evening event recognizes the achievement of each office on an annual basis, as well as the individual Executives, Executive Teams, and Office Administration involved in day to day operations of the brokerage(s), was held at Maggiano’s in Oak Brook. A total of 176 individual Executives and four Executive Teams were honored in addition to seven offices receiving top awards.
Realty Executives Cornerstone, which operates locations in both Crystal Lake and Algonquin, received its' third consecutive Executive Administrative Professionals Circle of Excellence Award. REO Manager Victoria Suthers accepted the award on behalf of the office. In order to receive the award, offices are held to a series of requirements varying from administrative procedures to continuing education. Realty Executives Cornerstone was one of seven offices to receive the award for 2013.
One of the two teams associated with the Cornerstone brokerage, Team High (consisting of the husband/wife duo of Mitch and Tara High), received a Top Team award for 2013. Team High was ranked 2nd amongst the region in number of listings taken throughout the year and 3rd in both dollar volume of listings and number of closed transactions. In addition to Team High’s award, 7 additional Executives were acknowledged for their contributions in 2013. Yolanda LaLuz received the Bronze Award for closing transactions up to $2 million in volume, Tim Lisack, Tammy Mrotek, and Michelle DeLaughter each received Silver Awards for closing between $2 and $5 million in transactions on the year, and Larry Lang, Laura Hastings, and John Milazzo each walked away with Gold Award honors, tallying between $5 and $10 million each in 2013. Broker/Owner Rick O’Connor is extremely proud of the continued success of his Executives. “It is truly a blessing to be working beside such a hard-working group of Executives. I am thankful to have them on my team,” O’Connor expressed following the event.
I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!
Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!
While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.
Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.