How Hiring an Experienced Realtor Can Assist With Relocation

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Posted by Park Ridge Real Estate | Posted in Park Ridge, Relocation | Posted on 08-08-2017

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Experts say moving to a different house is one of the most stressful life experiences a person can go through. They put it in the same category as the death of a loved one or divorce. And, that is just moving. What happens when you have to pack up and move to a new and unfamiliar city? The stress is much greater.

There are many things to consider, and decisions need to be made. These often must be done quickly and without all the necessary information on which to base your decision.

Relocations because of a promotion or job opportunity are a lot more commonplace now than they were in the past. We are seeing many people looking for real estate in Park Ridge, Ill., after job offers in the area.

There could also be personal reasons for moving, such as family considerations or living conditions. Whatever the reason, it can cause considerable uncertainty and panic. Children, relatives, and pets can place an additional burden on your move.

Relax!

The good news is you do not have to do it alone. You don’t have to make the big decisions, such as where to live, or which school is the best, by yourself. Finding a trusted and reliable real estate agent in your destination city can relieve you of a lot of stress. A well-established Realtor will have an in-depth knowledge and understanding of all facets, including transportation, sports facilities, and moving companies. He will be able to give you professional advice and assistance that extend far beyond simply selling you a home.

Their primary function is to find you a home in the area that not only meets your requirements but fits your budget. They need to negotiate the purchase and ensure you pay a fair, market-related price. They need to take care of all the legalities, paperwork, tax issues and other necessary formalities. Many Realtors offer much more than merely selling you a house. If you are moving to an area that is unfamiliar to you, it makes sense to work with someone who can help you with the other aspects of your move.

When looking for real estate in Park Ridge, IL, a local realtor is essential because they are very familiar with the area and likely either live in the city or in one of the surrounding cities. This is a huge advantage if you’re new to the area since they can share with you what areas you should consider based on your needs, which areas you may want to stay away from, crime rates, school ratings and much more.

Finding the right Realtor

The first challenge is to find a reputable, trustworthy Realtor who offers relocation assistance. You can do much of your research online, but select your real estate agent with care and try to get legitimate referrals from former customers who were satisfied with their service.

The right person or company will be integrated into the local community and have a thorough understanding of the area. Because they will have had experience in relocating other individuals or families, they understand what an emotional upheaval the move will be for you and your family, and, as a result, will be able to support you through the transition. They can also recommend a trusted professional company from a vast network that can help with various aspects of your move, as well as offer any initial support you might need. They will understand the cultural features of the area, the entertainment venues, etc. Be sure both parties are clear on what services are offered, as well as what the costs will be. Relocation can be costly. If you are moving for work and your company is paying relocation costs, which is great. However, there will likely be limits and stipulations you’ll have to keep in mind.

Make a checklist

Some companies will have a system in place that covers all aspects of your move. If this is not the case, you will need to create one, either alone or with the assistance of your real estate agent. Again, they should be able to give you sound advice on removal companies, schools, cleaning and garden maintenance services, security services, exterminators, contractors, handymen, interior decorators, doctors, vets and any other services you might need to help you settle in.

Final thoughts

Finding a trusted Realtor with whom you can work with will save you a lot of time, money and stress. It will take a lot of the burden off your shoulders and allow you to move into your new home with ease.

US Home Prices At Record High

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Posted by Park Ridge Real Estate | Posted in Market Stats, Uncategorized | Posted on 28-07-2017

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US Home prices topped a new high in May for the 6th month in a row.  The Standard & Poor’s Core Logic national home price index went up 5.6% in May from their latest report.  We have officially passed the peak from July 2006 by 3.2%.

Seattle. Portland and San Francisco are accountable for much of the increase as there are more rental properties than single family occupancy.  The national average is 64% of owner-occupied homes – San Fran is at 36%, Seattle is at 46% and Portland is at 52%, far below the national average.

For now, it’s still a seller’s market – home are selling within 60 days and many areas are seeing multiple offers.  Quite the change from 10 years ago…

When it rains…….IT POURS! Planning for extreme weather in Park Ridge

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Posted by Park Ridge Real Estate | Posted in Park Ridge, Uncategorized, Weather | Posted on 24-07-2017

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Wow, that was some storm that rolled through Park Ridge and the surrounding areas last week.  Itasca, Medinah, Schaumburg were hit especially hard as well as out west.  North of us is like a disaster zone – Mundelein, McHenry, Crystal Lake, Wauconda and the surrounding areas are still digging out from the downpour.

Rain and wind totals from the storm are jaw-dropping. Nearly 7 inches of rain fell near Bartlett and Itasca was hit with a microburst with winds hitting 70-80 mph. That’s scary!  All you can do is hunker down and wait for the storm to pass.  That being said, having a contingency plan is critical for the extreme weather that is prone to hit anytime, anywhere in the Chicagoland area.

One of the greatest investments one can make is to buy a generator.  Power outages are inevitable and when that happens, there goes the ability to pump water out of your basement.  Having back-up power for your sump pump will provide much needed mental relief when storms hit.  I don’t know too many people that haven’t been affected by our weather.  Besides being able to keep your sump pump running, at least you’ll have lights, can keep your fridge running and fans when it’s hot.  Take my word for it, it’s the best $300-$400 you’ll spend.

When storms pound our area, that’s when you find out very quickly if your home has any leaks.  Hopefully, you’re not bailing with buckets when they hit, but extreme storms have a tendency to expose vulnerabilities that weren’t obvious to homeowners.  It’s hard to plan for a storm like that – thankfully, it’s just water damage and felled trees that affected the suburbs.  Fences were knocked down, basements flooded, roads are closed and bridges are out but no one was seriously hurt to my knowledge.

There are products on the market that will keep valuables and precious momentos off the basement floor if/when flooding occurs.  It’s critical to keep photos, books, and keepsakes off the floor in your basement – some things are not replaceable.

Stay safe and all the best to those that were hit hardest by this 200 year storm.

REALTOR® vs. For Sale By Owner

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Posted by Park Ridge Real Estate | Posted in Why use a REALTOR® | Posted on 30-05-2017

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Reasons to Use a REALTOR® vs. Selling By Owner

Logo of the National Association of Realtors.

Logo of the National Association of Realtors. (Photo credit: Wikipedia)

Selling a home can be a stressful, emotional and a very involved process.   There are a multitude of decisions to make and documents to complete as part of a complex and ever-changing process.  Given all the challenges and risks involved, there are a number of very good reasons to consider hiring a REALTOR®  to help with the important financial decision to sell a home.

  • Ethics – Not all real estate agents are REALTORS®.  A REALTOR® is a member of the National Association of REALTORS® and is held to a strict code of ethics.  This is very important when negotiating a real estate transaction and helping a seller navigate through the ups and downs of the sales process.
  • Knowledge – A REALTOR® knows and understands all the documents, reports, disclosures and the like that are part of the process.  They are familiar with the terminology and jargon inherent in a real estate transaction.
  • Experience – A REALTOR® has been involved in the buying and selling of property previously.  That prior experience imparts lessons learned and important informative tidbits to new buyers and sellers.
  • Information – REALTORS® have access to a wealth of information, including local information relative to the neighborhood, market/comps and property.  A REALTOR® can access that information more quickly and easily due to their professional connections and permissions.
  • Network – REALTORS® have access to a network of other professionals that are essential when navigating through a real estate transaction.  Escrow agents, lenders, inspectors, contractors and appraisers are just a few of the disciplines that might be needed during the process of selling a home.  A REALTOR’s extensive network of contacts is helpful for the individual looking to sell a house without any such professional connections.
  • Support – REALTORS® can be a trusted and excellent source of emotional support during the rollercoaster ride of selling a house.  They understand the mental and emotional difficulties that are an intrinsic part of the real estate process.   They can offer a shoulder to cry on and words of support when making tough decisions and receiving difficult news.

While a property owner looking to maximize profit on the sale of a house may consider selling his or her own home to save money, the savings may not be worth the stress and strain of selling a house without the help of a professional.  In addition, lack of experience can lead to costly mistakes that might be avoided with involvement and direction from a seasoned real estate professional.  Selling a home is one of the most important financial transactions many will pursue during their lifetime, but the process of selling a home is an incredibly emotional experience as well.  The interaction of money and emotion makes the prospect of hiring a third-party professional to assist in the process a wise and sound decision.

Given the above, it is important to also consider carefully the selection of a REALTOR®.  Just as important as it is to hire a REALTOR® to assist with selling a home, it is equally important to select an appropriate one.  Some things to consider when selecting a REALTOR® include:

  • The relationship between REALTOR® and client should be a long-term, intimate and trusting relationship.  If the initial interaction does not feel right, it likely will not improve over time. Consider recommendations from friends and family, and research REALTORS® that buy and sell within the local neighborhood.  The best form of advertisement is word of mouth, and references from trusted sources are typically a good means of identifying reputable professionals.
  • Interview three or four prospective REALTORS® before making a selection.  Ask questions of the REALTOR® about relevant topics, including, but not limited to, the number of active listings, number of homes previously sold in the neighborhood/local area, communication protocol (e.g., frequency, format), and marketing strategies and techniques to target buyers.
  • Be wary of REALTORS® that suggest the highest price for a home, or similarly, an  overly inflated price for a home.  Pricing a home too high to start usually results in a longer sales process and lower ultimate selling price.  Higher prices are seen as unrealistic by prospective buyers, and a house on the market for an extended period of time is assumed to have serious flaws.
  • Look for a full-time REALTOR® as opposed to a representative working part time or on the side.  Their attention may not be focused on the current housing market or a seller’s best interest.
  • Avoid hiring a relative as a REALTOR®.  Professional involvement with relatives is emotionally complicated and too often fraught with difficulties, resentment and mismanagement.
  • Ensure the REALTOR® knows the real estate market in the neighborhood within which the home will be sold.  Their knowledge should focus on the immediate neighborhood and not only the local area.
  • Be cautious of a REALTOR® that is willing to accept lower commission.  Commission on the sale of a house is typically 5 to 7 percent, split between both buyer’s and seller’s agents.  If a REALTOR® charges a lower commission, there is less impetus to sell the home and fewer agents may show it.
  • Confirm that the REALTOR® has sold the prospective property type before.  For example, if the property for sale is a condo, ensure the REALTOR® has previously sold condos; if it is an investment property, find a REALTOR® that regularly works, or has previously worked, with investors.
  • Attempt to confirm the REALTOR®’s previous performance as regards negotiation skills and competence in tracking details of their transactions.  Just as the ability to close the deal is important to the sale of a house, so, too, is the ability to ensure the fine details of a transaction are identified and resolved.

Selling a home is challenging, involved and emotional.  Selecting a REALTOR® to assist with selling a home is a wise choice to ensure that the deal is closed and the sale negotiated to the seller’s satisfaction.  With the above information, selecting a REALTOR® should be one of the easier parts of an otherwise challenging process.

 

Home Sales & Prices Going Up

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Posted by Park Ridge Real Estate | Posted in Uncategorized | Posted on 16-05-2017

Logo of the National Association of Realtors.

Logo of the National Association of Realtors. (Photo credit: Wikipedia)

Good news – Home sales are up!  The other side of that is; Prices are Up!

The most-recent report released by The National Association of REALTORS® tells us that 5.62 million homes were sold in the first quarter of 2017. Also in the report, the national median home price is up 6.9% from last year’s report.  Demand is strong as mortgage rates are still relatively low and inventory is short.

Across the country, here are the highest of the highs and the lowest of the lows with regards to median home price:

Cumberland, Maryland – Up 21.4%
Vero Beach, Florida – Up 18.2%
Ocala, Florida – Up 17.6%


Elmira, New York – Down 14.5%
Binghamton, New York – Down 14%
Atlantic City, New Jersey – Down 9.1%

6 out of the top ten cities with the biggest increase in sale price are in Florida. 4 out of 10 of the negative growth areas are in New York and New Jersey.
Data provided by Wall Street Journal and National Association of REALTORS®


The housing market in Park Ridge, Illinois is robust. Prices are trending upwards and homes are selling in about 90 days. The general feeling and consensus at the office is that home sales in our area will continue to rise and we will have multiple offer situations for homes in and around the PArk Ridge area.

If I can help you, please feel free to contact me.

Tips for First-Time Buyers in Park Ridge

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Posted by Park Ridge Real Estate | Posted in First Time Buyers, Park Ridge | Posted on 03-04-2017

Buying your first home is very exciting and very scary! It is probably the biggest single investment you will ever make and there are lots of stories of people falling into debt or their homes being repossessed. Spending some time looking at your options before you commit to a house and mortgage will make you feel more confident and you will be able to relax and enjoy your new home.

The most important thing to consider is your budget. Work out how much you are currently spending and how much you will have spare. Go along to the lenders with those details, and see what they can offer. Remember that life may not go as you are planning, the interest rate may go up, you might decide to start a family or get given a pay-cut. If your mortgage payments are below your maximum limit you will be able to manage the things life throws at you without worrying. When you look at your budget remember to include the costs of taxes and insurance for the house. Check the costs of utilities for the new home – don’t just guess, check with the Realtor.

If you are debt-free or managing your debt well before you buy your first home, you will be in a better position to manage a mortgage. Your credit score will be good so you may be able to access better interest rates. If your debt is not well controlled it might be worth seeking some advice before looking at a mortgage.

Once you have an idea of how much you can comfortably borrow and you are happy that you can meet the monthly payments – you can start house hunting. This is the fun part of the process! Make sure you are looking at houses that are within your budget, don’t be tempted to look over your budget or you’ll end up disappointed. If you look at a home that needs renovating or repairing, make sure there will be enough money left for the work.

The process of buying a home can take 3 months or so, so be prepared for a bit of a wait! It is a great time, making sure you have all you need for you new home. Deciding on curtain colors and furniture styles and decorating to make it yours. If you have allowed for these things in your budget you need to stick to the amounts you have allowed, if you haven’t budgeted for furniture and decorations, put up with what is already there until you have more cash or make very cheap alterations. There are plenty of ways of decorating for virtually no cost, using furniture recycling projects or rehoming friends old furniture. Decorating on a shoestring can actually be a lot of fun!

Hopefully you will have a little bit of money left when you first move in for a nice bottle of something to celebrate your fantastic new purchase! Congratulations!

  Related articles

Getting your home ready to sell

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Posted by Park Ridge Real Estate | Posted in Moving | Posted on 03-04-2017

When you talk about selling your home people look at you with sympathy and tell you stories of the problems they’ve faced when they sold their home. But with a bit of careful planning before you sell, it really needn’t be a bigger deal than it already is.

1. Be sure you want to move! This sounds obvious – you are reading this, so you must want to move? But sometimes people put their home on the market to see what interest they get and decide what to do as a result. If you do that, you will not put as much effort into preparing the house or be as enthusiastic about selling. It’s better to trust your Realtor’s opinion on your home’s value and then sell it with enthusiasm.

2. Declutter. I know, this sounds stressful, I am sure there are people breaking into a nervous sweat just reading the word, but it is actually quite good for the soul as well as being essential for moving home. There are lots of systems out there to help you declutter, if you haven’t used it for 6 months you don’t need it, get rid of duplicates, 12-12-12 challenge (12 things thrown away, 12 things donated, 12 things tidied away) use whatever system suits you! If you give yourself plenty of time you can sell some of your unwanted items and make some money, or donate them to charity and feel saintly! You really do need to be brutal though. Once you have had a really good declutter your home should be simple to keep tidy and moving will be much easier!

3. Box and store. After your declutter you will have found there are things that you don’t need often, but don’t want to get rid of. Things like Christmas decorations, camping equipment and equipment for hobbies. You are certain you will need these again (or you would have sold them in your declutter) but you don’t want them making your home look messy. Box them in tidy boxes and label them. Don’t forget to label them, it is very frustrating when you come to move if you can’t remember what is in there! Then put the boxes away somewhere, neatly stacked in the garage or in a friend’s house. Now your house seems bigger and moving will be easier!

4. Decorate/repair. Talk to your Realtor and get some advice about what to repair and the best ways to decorate. Generally speaking, neutral tones are best, they make the house look clean and light and allow people who are viewing to imagine it with their own stamp on it. Your Realtor will have advice about which areas need the most attention.

5. Shampoo carpets. Carpets hold onto a lot of smells around the house that you may not notice. Having them cleaned is a fairly cheap way to make sure the house looks loved and smells lovely.

Your house is now looking lovely and ready to be viewed.

Just be careful that you don’t fall in love with it yourself!

Chicago Is The Place For Festivals!

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Posted by Park Ridge Real Estate | Posted in Interesting Events, Park Ridge | Posted on 24-03-2017

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English: Ozzy Osbourne, Prince of Darkness, at...

Ozzy at Toyota Park

Toyota Park will host the Chicago Open Air Music Festival from 14th-16th July. This is a heavy metal music festival with a line-up including Kiss, Ozzy Osbourne, Megadeth, Anthrax and Steel Panthers, among many, many more. As well as music, the festival boasts gourmet food and craft beers. Ticket prices vary from $50 for the cheapest one day ticket to $400 for the most expensive VIP weekend ticket, and the tickets can be paid for in installments. Children are welcome, but tickets are for all ages, no kids concessions.

If you fancy something a bit more sedate, the Southport Art Festival might be more up your street. It showcases a wide range of art forms including acrylic, jewelry, sculpture, photography and mixed media. There are interactive exhibitions to keep youngsters (and not so ‘youngsters) occupied. There will be vendors providing a range of food and drink. The festival is running on the 14th and 15th July and admission is free.

Maybe you like a festival with more variety? The Pitchfork festival might be for you. Held in Union Park, Chicago, it boasts music from different genres; including indie rock, alternative rock and hip hop! There will be both established and emerging artists so you can find new artists while enjoying those you already know.  The line-up will include LCD Soundsystem, Danny Brown, Solange, Kilo Kish and Nicolas Jaar. There will be additional events; late night jazz, talks with artists, film screenings and an onsite art installation.

Millennium Park is a good place to look at for music and art festivals all around the year, lots with free entry. Even without a festival, the park is amazing. With stunning landscaping, plenty of food and drink concessions, and amazing sculptures; the park really is a must visit. If you have a free day or weekend then Millennium Park is a good place to consider!

In Chicago, on one weekend there are three very different festivals in three different parks, and a park with events on all the time! What an amazing city! Why would you need to go anywhere else?

Chicago is just another benefit of living in Park Ridge.  Summer is coming and I can’t wait!

 

The Moving Process

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Posted by Park Ridge Real Estate | Posted in Moving, Park Ridge Movers | Posted on 27-02-2017

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A moving truck operated by Piedmont Moving Sys...

Park Ridge, IL Movers

Whenever anyone hears the word “moving”, usually the response is “ugh!”

Moving from home to home is a huge project and like most huge projects, there’s really only one way to tackle it – by starting…

The only way to finish a project is to start it – this old adage has been burned into my brain and it is something that helps me get things done for my clients and for my personal tasks.

Moving can be intimidating and for most people, it really is just that.  Here’s a few ways to make this seemingly insurmountable task tolerable:

  • Declutter and throw away anything you cannot donate or give away
  • Decide what you want to sell before you donate items
  • Create a pile for your favorite charity and keep receipt for taxes after you drop it off
  • Have a garage sale and make sure you post the event in Craigslist at least a week ahead of the sale
  • Toys, Tools, Electronics, Bikes, Lawn Equipment will all sell easily
  • Once you’ve pared down your wardrobe and unnecessary items for the move, start putting in boxes that are labeled for their respective rooms (kitchen, BR1, BR2, Bathroom 1 etc)

After decluttering, it’s time to repair walls.  Now, you have to decide if you are going to give the home a fresh coat of paint.  If so, please go with neutral colors; this will help the viewings.  Repair anything you can that needs to be addressed before putting your home up for sale.  Obviously, there will be repairs that you may not be able to do yourself.  An inspection will bring those items to light and this can be negotiated with a prospective buyer.  Just do the best you can to get your home show-ready.

To stage or not to stage? This depends on your home and price point.  If you are selling a home in Park Ridge that will list for more than 400k, staging is something you may want to consider if your décor and furniture is possibly outdated.  If you think your home shows well “as-is” then staging might not be necessary.  I’m happy to give you my professional advice once we’ve had a chance to talk and go over setting the price of the home.

Once you’ve done your best to eliminate old items or items you just don’t use anymore, you can then contact the movers (if you are doing that).
If you are moving yourself, you can contact the major truck rentals and see who is offering best deal if you know when you are moving.  For most 2-3 Bedroom homes, a 26′ truck will do the job and if not, it will definitely do it in 2 trips. Most moving truck rentals give you a full 24 hours so you can pack the truck in the evening and unload it in the morning and then go back to finish the job before dropping the truck off.  Renting a truck and moving yourself will save you thousands of dollars.  That being said – it’s back-breaking work unless you have several helpers…

To summarize:
Declutter your home – get rid of any unwanted items – clean/repair the home best you can for showings – research moving options – start packing!

If you need moving referrals for the Park Ridge area, please feel free to contact me.  I can help by providing reputable movers and save you the aggravation of trying to work with movers that you’ve never worked with.

I wish you the best of luck with your move…..

Trump and Real Estate

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Posted by Park Ridge Real Estate | Posted in Interest Rates | Posted on 24-01-2017

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Four days ago a new administration was sworn-in to lead our country. Like many Americans, we all have questions as to how this will affect our lives, both physically and financially.  The “physical” part is what will become of our healthcare programs, namely, what will happen to the ACA? Financially, we want to know what will happen with interest rates, taxes and income.  Let’s break it down.

Checking today’s interest rates in Illinois, here’s what I found:
Mortgage rates for Illinois from Lender411:
30-year fixed-rate mortgages are at 4.21%. That dropped from 4.38% to 4.21%.
The 15-year fixed rates are now at 3.63%.
The 5/1 ARM mortgage for Illinois is now at 3.58%.

These rates are still much lower than they were 5-10 years ago, when they were in the 6% and up ranges.
The FED has been flirting with raising the rates for more than a year.

Here’s a snippet from a recent AP article:

By MARTIN CRUTSINGER
AP Economics Writer

“WASHINGTON (AP) – Federal Reserve Chair Janet Yellen says she expects the Fed to raise its benchmark interest rate several times a year through 2019, as it moves closer toward to its economic goals of maximum employment and stable inflation.

But in a speech in San Francisco Wednesday, she said she can’t say when the next interest rate will occur or how high rates will rise. She says that will depend on how the economy performs in the coming months.

She says Fed officials, who boosted rates for a second time last month, expect to raise rates “a few times a year” until they have pushed the Fed’s benchmark rate close to 3 percent by the end of 2019. The rate now stands in a range of 0.5 percent to 0.75 percent.

The 3 percent level for the Fed’s target for the federal funds rate, the interest that banks charge each other, is the point that the Fed currently believes is the so-called neutral rate – the level where the Fed’s interest rate policies are not spurring growth or holding it back.

“Right now our foot is still pressing on the gas pedal, though, as I noted, we have eased back a bit,” Yellen said. “Our foot remains on the pedal in part because we want to make sure the economic expansion remains strong enough to withstand an expected shock, given that we don’t have much room to cut interest rates.””

When rates go up, your mortgage goes up – it’s as simple as that. that being said, there’s nothing simple about the cause and effect of raising interest rates. Economists argue that lower interest rates hamper growth. Raise the rate too high, and many people are priced out of buying a home. There’s no doubt that it is complicated. We have ample data to study the cause and effect of high interest rates; look at table below – the rates were 4x of what they are now.

2016
Announcement Date Index Month Index Value
Oct 27, 2016 Sep 2016 3.61
Sept 28, 2016 Aug 2016 3.58
Aug 30, 2016 July 2016 3.62
July 27, 2016 June 2016 3.69
June 29, 2016 May 2016 3.70
May 26, 2016 Apr 2016 3.75
Apr 28, 2016 Mar 2016 3.73
Mar 29, 2016 Feb 2016 3.88
Feb 25, 2016 Jan 2016 3.98
2015
Announcement Date Index Month Index Value
Jan 28, 2016 Dec 2015 3.97
Dec 30, 2015 Nov 2015 3.85
Nov 24, 2015 Oct 2015 3.89
Oct 29, 2015 Sept 2015 3.93
Sep 29, 2015 Aug 2015 3.99
Aug 27, 2015 July 2015 4.02
July 30, 2015 June 2015 3.85
June 25, 2015 May 2015 3.75
May 28, 2015 Apr 2015 3.78
Apr 28 2015 Mar 2015 3.80
Mar 26 2015 Feb 2015 3.77
Feb 26 2015 Jan 2015 3.88
2014
Announcement Date Index Month Index Value
Jan 29 2015 Dec 2014 3.98
Dec 30 2014 Nov 2014 4.00
Nov 25 2014 Oct 2014 4.11
Oct 30 2104 Sep 2014 4.06
Sep 30 2014 Aug 2014 4.08
Aug 28 2014 Jul 2014 4.09
Jul 31 2014 Jun 2014 4.08
Jun 26 2014 May 2014 4.18
May 29 2014 Apr 2014 4.24
Apr 29 2014 Mar 2014 4.22
Mar 27 2014 Feb 2014 4.30
Feb 27 2014 Jan 2014 4.37
2013
Announcement Date Index Month Index Value
Jan-30 2014 Dec 2013 4.25
Dec-24 2013 Nov 2013 4.21
Nov-26 2013 Oct 2013 4.32
Oct-29 2013 Sep 2013 4.38
Sep-26 2013 Aug 2013 4.26
Aug-29 2013 Jul 2013 4.01
Jul-30 2013 Jun 2013 3.55
Jun-27 2013 May 2013 3.40
May-30 2013 Apr 2013 3.56
Apr-25 2013 Mar 2013 3.54
Mar-28 2013 Feb 2013 3.43
Feb-26 2013 Jan 2013 3.35
2012
Announcement Date Index Month Index Value
Jan-29 2013 Dec 2012 3.29
Dec-27 2012 Nov 2012 3.36
Nov-29 2012 Oct 2012 3.44
Oct-30 2012 Sep 2012 3.56
Sep-27 2012 Aug 2012 3.56
Aug-28 2012 Jul 2012 3.66
July-26 2012 Jun 2012 3.67
Jun-26 2012 May 2012 3.78
May-29 2012 Apr 2012 3.93
Apr-26 2012 Mar 2012 3.90
Mar-27 2012 Feb 2012 4.08
Feb-28 2012 Jan 2012 4.25
2011
Announcement Date Index Month Index Value
Jan-26 2012 Dec 2011 4.15
Dec-22 2011 Nov 2011 4.22
Nov-22 2011 Oct 2011 4.19
Oct-27 2011 Sep 2011 4.38
Sep-27 2011 Aug 2011 4.56
Aug-30 2011 Jul 2011 4.57
Jul-27 2011 Jun 2011 4.62
Jun-28 2011 May 2011 4.74
May-25 2011 Apr 2011 4.80
Apr-26 2011 Mar 2011 4.84
Mar-29 2011 Feb 2011 4.79
Feb-24 2011 Jan 2011 4.71
2010
Announcement Date Index Month Index Value
Jan-27 2011 Dec 2010 4.58
Dec-28 2010 Nov 2010 4.42
Nov-23 2010 Oct 2010 4.49
Oct-28 2010 Sept 2010 4.55
Sept-28 2010 Aug 2010 4.65
Aug-26 2010 Jul 2010 4.78
Jul-27 2010 Jun 2010 4.91
Jun-24 2010 May 2010 4.99
May-27 2010 Apr 2010 5.02
Apr-27 2010 Mar 2010 4.99
Mar-30 2010 Feb 2010 5.05
Feb-25 2010 Jan 2010 5.01
2009
Announcement Date Index Month Index Value
Jan-26 2010 Dec 2009 4.92
Dec-24 2009 Nov 2009 5.01
Nov-24 2009 Oct 2009 5.02
Oct-27 2009 Sep 2009 5.16
29-Sep 2009 Aug 2009 5.25
27-Aug 2009 Jul 2009 5.26
28-Jul 2009 Jun 2009 5.09
25-Jun 2009 May 2009 4.99
28-May 2009 Apr 2009 4.88
28-Apr 2009 Mar 2009 5.06
26-Mar 2009 Feb 2009 5.04
26-Feb 2009 Jan 2009 5.12
2008
Announcement Date Index Month Index Value
22-Jan 2009 Dec 2008 5.51
30-Dec 2008 Nov 2008 6.18
25-Nov 2008 Oct 2008 6.16
28-Oct 2008 Sept 2008 6.17
25-Sep 2008 Aug 2008 6.46
28-Aug 2008 Jul 2008 6.41
24-Jul 2008 Jun 2008 6.23
26-Jun 2008 May 2008 6.04
27-May 2008 Apr 2008 5.97
24-Apr 2008 Mar 2008 6.03
25-Mar 2008 Feb 2008 5.87
26-Feb 2008 Jan 2008 5.97
2007
Announcement Date Index Month Index Value
24-Jan 2008 Dec 2007 6.23
27-Dec 2007 Nov 2007 6.35
27-Nov 2007 Oct 2007 6.50
25-Oct 2007 Sept 2007 6.59
25-Sept 2007 Aug 2007 6.73
28-Aug 2007 July 2007 6.74
25-July 2007 June 2007 6.58
26-June 2007 May 2007 6.37
24-May 2007 Apr 2007 6.28
26-Apr 2007 Mar 2007 6.33
27-Mar 2007 Feb 2007 6.40
27-Feb 2007 Jan 2007 6.37
2006
Announcement Date Index Month Index Value
25-Jan 2007 Dec 2006 6.40
28-Dec 2006 Nov 2006 6.45
28-Nov 2006 Oct 2006 6.54
26-Oct 2006 Sept 2006 6.59
27-Sept 2006 Aug 2006 6.75
29-Aug 2006 Jul 2006 6.77
28-Jul 2006 Jun 2006 6.65
Jun 2006 May 2006 6.61
May 2006 Apr 2006 6.50
Apr 2006 Mar 2006 6.43
Mar 2006 Feb 2006 6.31
Feb 2006 Jan 2006 6.30
2005
Announcement Date Index Month Index Value
Jan 2006 Dec 2005 6.29
Dec 2005 Nov 2005 6.22
29-Nov 2005 Oct 2005 5.98
25-Oct 2005 Sept 2005 5.85
27-Sept 2005 Aug 2005 5.83
30-Aug 2005 Jul 2005 5.68
26-Jul 2005 Jun 2005 5.65
29-Jun 2005 May 2005 5.80
25-May 2005 Apr 2005 5.86
26-Apr 2005 Mar 2005 5.76
24-Mar 2005 Feb 2005 5.68
24-Feb 2005 Jan 2005 5.72
2004
Announcement Date Index Month Index Value
26-Jan 2005 Dec 2004 5.71
28-Dec 2004 Nov 2004 5.65
30-Nov 2004 Oct 2004 5.64
26-Oct 2004 Sept 2004 5.63
28-Sept 2004 Aug 2004 5.77
26-Aug 2004 Jul 2004 5.88
28-Jul 2004 Jun 2004 5.96
25-Jun 2004 May 2004 5.73
28-May 2004 Apr 2004 5.37
26-Apr 2004 Mar 2004 5.43
26-Mar 2004 Feb 2004 5.69
26-Feb 2004 Jan 2004 5.63
2003
Announcement Date Index Month Index Value
28-Jan 2004 Dec 2003 5.74
23-Dec 2003 Nov 2003 5.79
25-Nov 2003 Oct 2003 5.78
27-Oct 2003 Sep 2003 5.89
25-Sep 2003 Aug 2003 5.61
26-Aug 2003 Jul 2003 5.34
25-Jul 2003 Jun 2003 5.36
26-Jun 2003 May 2003 5.58
28-May 2003 Apr 2003 5.68
28-Apr 2003 Mar 2003 5.76
27-Mar 2003 Feb 2003 5.88
27-Feb 2003 Jan 2003 5.91
2002
Announcement Date Index Month Index Value
28-Jan 2003 Dec 2002 6.04
26-Dec 2002 Nov 2002 6.03
26-Nov 2002 Oct 2002 6.09
25-Oct 2002 Sep 2002 6.23
27-Sep 2002 Aug 2002 6.32
28-Aug 2002 Jul 2002 6.48
25-Jul 2002 Jun 2002 6.62
26-Jun 2002 May 2002 6.74
28-May 2002 Apr 2002 6.88
26-Apr 2002 Mar 2002 6.77
27-Mar 2002 Feb 2002 6.77
27-Feb 2002 Jan 2002 6.81
2001
Announcement Date Index Month Index Value
25-Jan 2002 Dec 2001 6.69
27-Dec 2001 Nov 2001 6.56
28-Nov 2001 Oct 2001 6.66
26-Oct 2001 Sep 2001 6.86
26-Sep 2001 Aug 2001 6.99
28-Aug 2001 Jul 2001 7.1
26-Jul 2001 Jun 2001 7.1
26-Jun 2001 May 2001 7.08
25-May 2001 Apr 2001 7.01
26-Apr 2001 Mar 2001 7.02
27-Mar 2001 Feb 2001 7.1
27-Feb 2001 Jan 2001 7.25
2000
Announcement Date Index Month Index Value
26-Jan 2001 Dec 2000 7.59
26-Dec 2000 Nov 2000 7.73
28-Nov 2000 Oct 2000 7.81
26-Oct 2000 Sep 2000 7.89
27-Sep 2000 Aug 2000 8
29-Aug 2000 Jul 2000 8.09
27-Jul 2000 Jun 2000 8.17
27-Jun 2000 May 2000 8.08
26-May 2000 Apr 2000 8
27-Apr 2000 Mar 2000 8.01
27-Mar 2000 Feb 2000 7.95
25-Feb 2000 Jan 2000 7.79
1999
Announcement Date Index Month Index Value
26-Jan 2000 Dec 1999 7.55
27-Dec 1999 Nov 1999 7.56
29-Nov 1999 Oct 1999 7.56
27-Oct 1999 Sep 1999 7.57
27-Sep 1999 Aug 1999 7.48
26-Aug 1999 Jul 1999 7.35
27-Jul 1999 Jun 1999 7.14
25-Jun 1999 May 1999 6.96
26-May 1999 Apr 1999 6.94
27-Apr 1999 Mar 1999 6.91
25-Mar 1999 Feb 1999 6.82
25-Feb 1999 Jan 1999 6.77
1998
Announcement Date Index Month Index Value
27-Jan 1999 Dec 1998 6.76
24-Dec 1998 Nov 1998 6.77
25-Nov 1998 Oct 1998 6.74
27-Oct 1998 Sep 1998 6.88
25-Sep 1998 Aug 1998 6.98
26-Aug 1998 Jul 1998 7.01
27-Jul 1998 Jun 1998 7.06
26-Jun 1998 May 1998 7.08
27-May 1998 Apr 1998 7.09
27-Apr 1998 Mar 1998 7.07
26-Mar 1998 Feb 1998 7.06
26-Feb 1998 Jan 1998 7.12
1997
Announcement Date Index Month Index Value
28-Jan 1998 Dec 1997 7.26
24-Dec 1997 Nov 1997 7.34
26-Nov 1997 Oct 1997 7.37
28-Oct 1997 Sep 1997 7.46
25-Sep 1997 Aug 1997 7.47
26-Aug 1997 Jul 1997 7.52
28-Jul 1997 Jun 1997 7.67
26-Jun 1997 May 1997 7.75
28-May 1997 Apr 1997 7.73
25-Apr 1997 Mar 1997 7.61
26-Mar 1997 Feb 1997 7.53
26-Feb 1997 Jan 1997 7.55
1996
Announcement Date Index Month Index Value
28-Jan 1997 Dec 1996 7.45
27-Dec 1996 Nov 1996 7.55
27-Nov 1996 Oct 1996 7.68
25-Oct 1996 Sep 1996 7.78
27-Sep 1996 Aug 1996 7.76
28-Aug 1996 Jul 1996 7.87
26-Jul 1996 Jun 1996 7.77
27-Jun 1996 May 1996 7.72
29-May 1996 Apr 1996 7.55
26-Apr 1996 Mar 1996 7.29
26-Mar 1996 Feb 1996 7.13
27-Feb 1996 Jan 1996 7.18
1995
Announcement Date Index Month Index Value
26-Jan 1996 Dec 1995 7.22
28-Dec 1995 Nov 1995 7.48
29-Nov 1995 Oct 1995 7.53
26-Oct 1995 Sep 1995 7.61
27-Sep 1995 Aug 1995 7.6
25-Aug 1995 Jul 1995 7.56
26-Jul 1995 Jun 1995 7.62
27-Jun 1995 May 1995 7.87
26-May 1995 Apr 1995 7.99
26-Apr 1995 Mar 1995 8.09
27-Mar 1995 Feb 1995 8
27-Feb 1995 Jan 1995 7.77
1994
Announcement Date Index Month Index Value
26-Jan 1995 Dec-94 7.75
27-Dec-94 Nov-94 7.56
29-Nov-94 Oct-94 7.6
25-Oct-94 Sep-94 7.57
27-Sep-94 Aug-94 7.59
25-Aug-94 Jul-94 7.49
July 26,1994 Jun-94 7.36
27-Jun-94 May-94 7.33
25-May-94 Apr-94 7.04
26-Apr-94 Mar-94 6.84
25-Mar-94 Feb-94 6.68
25-Feb-94 Jan-94 6.73
1993
Announcement Date Index Month Index Value
26-Jan-94 Dec-93 6.65
28-Dec-93 Nov-93 6.6
30-Nov-93 Oct-93 6.59
28-Oct-93 Sep-93 6.75
27-Sep-93 Aug-93 6.87
27-Aug-93 Jul-93 6.95
27-Jul-93 Jun-93 7.02
25-Jun-93 May-93 7.08
25-May-93 Apr-93 7.06
27-Apr-93 Mar-93 7.17
26-Mar-93 Feb-93 7.28
26-Feb-93 Jan-93 7.49
1992
Announcement Date Index Month Index Value
27-Jan-93 Dec-92 7.53
24-Dec-92 Nov-92 7.49
30-Nov-92 Oct-92 7.4
27-Oct-92 Sep-92 7.44
25-Sep-92 Aug-92 7.58
24-Aug-92 Jul-92 7.78
27-Jul-92 Jun-92 8.04
26-Jun-92 May-92 8.2
26-May-92 Apr-92 8.26
27-Apr-92 Mar-92 8.14
26-Mar-92 Feb-92 8.15
25-Feb-92 Jan-92 8.02
1991
Announcement Date Index Month Index Value
24-Jan-92 Dec-91 8.25
24-Dec-91 Nov-91 8.43
21-Nov-91 Oct-91 8.78
18-Oct-91 Sep-91 8.93
23-Sep-91 Aug-91 9.1
21-Aug-91 Jul-91 9.12
17-Jul-91 Jun-91 9.12
21-Jun-91 May-91 9.23
17-May-91 Apr-91 9.24
17-Apr-91 Mar-91 9.26
15-Mar-91 Feb-91 9.49
21-Feb-91 Jan-91 9.54
1990
Announcement Date Index Month Index Value
18-Jan-91 Dec-90 9.58
17-Dec-90 Nov-90 9.69
15-Nov-90 Oct-90 9.67
16-Oct-90 Sep-90 9.7
14-Sep-90 Aug-90 9.7
15-Aug-90 Jul-90 9.85
18-Jul-90 Jun-90 9.85
15-Jun-90 May-90 9.83
16-May-90 Apr-90 9.82
16-Apr-90 Mar-90 9.74
15-Mar-90 Feb-90 9.74
15-Feb-90 Jan-90 9.68
1989
Announcement Date Index Month Index Value
16-Jan-90 Dec-89 9.69
18-Dec-89 Nov-89 9.8
16-Nov-89 Oct-89 9.86
16-Oct-89 Sep-89 9.82
15-Sep-89 Aug-89 9.81
15-Aug-89 Jul-89 10.1
14-Jul-89 Jun-89 10.27
13-Jun-89 May-89 10.13
15-May-89 Apr-89 9.76
14-Apr-89 Mar-89 9.62
15-Mar-89 Feb-89 9.44
15-Feb-89 Jan-89 9.31
1988
Announcement Date Index Month Index Value
17-Jan-89 Dec-88 9.31
13-Dec-88 Nov-88 9.16
16-Nov-88 Oct-88 9.11
14-Oct-88 Sep-88 8.98
15-Sep-88 Aug-88 9
15-Aug-88 Jul-88 8.98
15-Jul-88 Jun-88 8.98
15-Jun-88 May-88 8.9
16-May-88 Apr-88 8.93
15-Apr-88 Mar-88 8.84
15-Mar-88 Feb-88 8.84
16-Feb-88 Jan-88 8.92
1987
Announcement Date Index Month Index Value
15-Jan-88 Dec-87 8.86
15-Dec-87 Nov-87 8.89
13-Nov-87 Oct-87 8.86
15-Oct-87 Sep-87 8.91
11-Sep-87 Aug-87 9.05
14-Aug-87 Jul-87 9.05
15-Jul-87 Jun-87 9.02
15-Jun-87 May-87 8.93
15-May-87 Apr-87 8.79
15-Apr-87 Mar-87 8.8
13-Mar-87 Feb-87 8.89
12-Feb-87 Jan-87 9.19
1986
Announcement Date Index Month Index Value
13-Jan-87 Dec-86 9.29
12-Dec-86 Nov-86 9.48
12-Nov-86 Oct-86 9.59
14-Oct-86 Sep-86 9.71
11-Sep-86 Aug-86 9.88
11-Aug-86 Jul-86 9.88
11-Jul-86 Jun-86 9.83
11-Jun-86 May-86 9.8
12-May-86 Apr-86 10
10-Apr-86 Mar-86 10.24
12-Mar-86 Feb-86 10.46
10-Feb-86 Jan-86 10.4
1985
Announcement Date Index Month Index Value
13-Jan-86 Dec-85 10.7
12-Dec-85 Nov-85 10.8
13-Nov-85 Oct-85 10.86
11-Oct-85 Sep-85 10.76
13-Sep-85 Aug-85 10.87
12-Aug-85 Jul-85 11.02
12-Jul-85 Jun-85 11.29
11-Jun-85 May-85 11.62
10-May-85 Apr-85 11.62
10-Apr-85 Mar-85 11.72
13-Mar-85 Feb-85 11.9
11-Feb-85 Jan-85 12.09
1984
Announcement Date Index Month Index Value
14-Jan-85 Dec-84 12.26
11-Dec-84 Nov-84 12.38
15-Nov-84 Oct-84 12.52
11-Oct-84 Sep-84 12.43
12-Sep-84 Aug-84 12.24
10-Aug-84 Jul-84 12.03
12-Jul-84 Jun-84 11.79
11-Jun-84 May-84 11.63
11-May-84 Apr-84 11.61
11-Apr-84 Mar-84 11.69
13-Mar-84 Feb-84 11.73
10-Feb-84 Jan-84 11.7
1983
Announcement Date Index Month Index Value
13-Jan-84 Dec-83 11.94
12-Dec-83 Nov-83 12.11
15-Nov-83 Oct-83 12.19
17-Oct-83 Sep-83 12.38
13-Sep-83 Aug-83 12.25
11-Aug-83 Jul-83 12.18
13-Jul-83 Jun-83 12.21
14-Jun-83 May-83 12.36
13-May-83 Apr-83 12.42
12-Apr-83 Mar-83 12.61
14-Mar-83 Feb-83 12.88
11-Feb-83 Jan-83 13.04
1982
Announcement Date Index Month Index Value
12-Jan-83 Dec-82 13.44
14-Dec-82 Nov-82 13.74
13-Nov-82 Oct-82 14.37
13-Oct-82 Sep-82 14.71
13-Sep-82 Aug-82 15.03
12-Aug-82 Jul-82 14.96
13-Jul-82 Jun-82 15.01
11-Jun-82 May-82 15.57
12-May-82 Apr-82 15.39
12-Apr-82 Mar-82 15.07
12-Mar-82 Feb-82 15.22
12-Feb-82 Jan-82 15.37
1981
Announcement Date Index Month Index Value
12-Jan-82 Dec-81 15.53
14-Dec-81 Nov-81 15.8
12-Nov-81 Oct-81 15.47
13-Oct-81 Sep-81 15.38
14-Sep-81 Aug-81 15.03
12-Aug-81 Jul-81 14.77
13-Jul-81 Jun-81 14.4
10-Jun-81 May-81 14.19
12-May-81 Apr-81 13.99
10-Apr-81 Mar-81 13.91
12-Mar-81 Feb-81 13.73
11-Feb-81 Jan-81 13.24
1980
Announcement Date Index Month Index Value
13-Jan-81 Dec-80 13.15
11-Dec-80 Nov-80 12.85
10-Nov-80 Oct-80 12.31
10-Oct-80 Sep-80 12
11-Sep-80 Aug-80 11.89
11-Aug-80 Jul-80 12.23
11-Jul-80 Jun-80 12.88
11-Jun-80 May-80 13.74
21-May-80 Apr-80 13.21
7-May-80 Mar-80 12.56
7-Apr-80 Feb-80 12.3
3-Apr-80 Jan-80 11.78

As per the Janet Yellen, we will see an increase in rates over the next 2 years. Be mindful when choosing your mortgage and by all means, please feel free to ask me any questions you may have about how this will affect your next home purchase, be it in Park Ridge, or any of the suburbs of Chicago.