New Lenox, IL Real Estate News

By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Are You a Millennial Hoping to Buy a Home?Solutions Exist to Address the Challenges You Face   It's no secret ...   Today's younger generation is finding it much more challenging to buy a home than their parents did.  That's troubling and sad, as 9 out of 10 millennials report they want to buy a home.   A recent revealing survey released by Apartment List shows that:    1.  Only 4.9% of those millennials      (those born 1981-1996 (22 to 37  years old) that want to buy a home say they will achieve their homeownership goal within the coming year   2.  Around 34% of those hoping to buy a home believe they'll have to wait over 5 years to do so    The culprits robbing these young people of their home buying dreams have been well-documented.  Those are:    Increasing home prices  Student l...
Comments 30
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  How Financing Options are Affected by the Rise & Fall of Federal Reserve Interest Rates    My phone is ringing off the hook these days ...The latest move by the Federal Reserve has garnered lots of attention and piqued the interest of many.  Many of my callers are wondering:   Have mortgage interest rates fallen? If so, how much have they fallen? How might this affect my current mortgage? How does this affect the financing options I have? Answering those questions is not as easy as it might seem, as each caller     (and consumer) possesses their own individual financial standing and credit history.  As a result, their financing options and opportunities are personal only to them and unlike anyone else's.  That, of course, means I must ask questions and gain information before I can gi...
Comments 25
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Be Prepared & Safe for the Coming Winter: Perform These Chicagoland Fall Home Maintenance Measures Now  Seems like we were just talking about the beginning of warm weather and summer pursuits ...   But here we are ... already putting pumpkins, cornstalks, and fall mums out to decorate our homes.   Yes, it's hard to believe, but Fall has officially arrived and colder temperatures can't be too far behind.That, of course, means that fall maintenance chores should be done.  And whether a personal residence or an investment property, there's plenty to do.  Performing fall maintenance chores now will prevent breakdowns, damage, or discomfort during the harsher, colder weather that's sure to come though. To help you prepare your home and property, I've put together a Fall Maintenance Checkli...
Comments 6
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Considering the Purchase of a Condominium or Townhome as an Investment Property?   Have you been thinking about entering the real estate market as a first-time investor?   Could your investment purchase include a condominium or townhome?   It's something many are currently considering as each property type can offer advantages to an investor looking to dip their toes in the real estate investment market for the first time.   Here's one example of that being true ...   Exterior maintenance of Condominiums and Townhomes is typically taken care of by the HOA (Home Owners Association).  The HOA pays for the maintenance out of the fees collected from property owners on a monthly basis.   Especially for first-time or less-than-handy investors, this can be a real advantage to their ownership...
Comments 15
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Will County Fall Festivals, Pumpkin Farms, Corn Mazes, Hayrides - 2019  Fall is right around the corner in Will County, IL ...  You can feel it in the air at night.  There's a new "crispness" to it.  The hours of sunlight are fewer.  Leaves are turning in color and already beginning to fall to the ground. Yes ... Fall in Will County means many wonderful things ...   Pumpkin farms are opening.  Fall festivals are already being held in many Will County communities.  Corn stalks are cropping-up on front porches, lamp posts, and mailbox posts.   Scarecrows, ghosts, witches, and goblins of all shapes and sizes will soon be revealed by car lights at night. Spooky creatures of all shapes and size will decorate lawns and trees.   I don't know anyone that doesn't LOVE Fall in Will County ... or...
Comments 6
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Multi-Generational - Cross-Generational Home Buyers: Meeting Their Needs Multi-Generational Homes ... Cross-Generational Homes.  No matter what you prefer to call them, they're gaining in popularity all across America ...Two statistics speak to this growing trend: 64 Million Americans, roughly 20% of the population, now live in a multi-generational home (Pew Research Center statistics, as of 2016, the last statistics available) 41% of Americans considering the purchase of a home are thinking of buying a home that will accommodate adult children or senior-aged parents (John Burns Real Estate Consulting survey)  These stats prove that last century's custom of families' independent living arrangements is slowly morphing and transforming back into the more historical mode of living arrang...
Comments 14
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  What a New Millennial Survey Teaches Us ...  While Millennials are currently reported to be buying homes at a faster pace than in the past, many of those that wish to buy are presently being stymied ... What is it that Millennials feel stand in the way of their home buying dreams?  And what number feel that they are fundamentally incapable of buying? A survey conducted by LendEDU attempts to shed some light on these questions.  The June 2019 survey indicates that while many Millennials long for homeownership, nearly 90% of non-homeowning Millennials hoping to buy have not done so yet.   Why not?Most taking the survey indicated that their student loans were/are the biggest deterrent to taking this big financial step.  This should come as no big surprise.  The difficulties surrounding s...
Comments 26
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Lincoln-Way Area Public Schools Back in Session Soon for School Year 2019-2020  It seems like summer just began ... but the 2019-2020 school year is soon kicking into gear for Lincoln-Way Area school children and their families ... To help Lincoln-Way Area families prepare, engage (and show support) for their schools this Fall and throughout the school year, I've put together a list of the area's public school districts.  This list includes helpful informational and documentation links for the upcoming school calendar year of 2019 - 2020. The Lincoln-Way Area offers the following public school districts within its borders:      *  New Lenox School District #122:     August 21 - First Day of School (Grades 1-8) August 21 - Kindergarten Orientation Day (No bus transport) August 22 - Fir...
Comments 6
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Be Prepared! Act Proactively! Gather & Retain this Documentation & Info for Future Mortgage Application  There is typically one bit of knowledge that the overwhelming majority of home buyers already know when they contact me for a mortgage ...   They know they'll need to provide "a boatload" of information and documentation to get their mortgage ball rolling.   What exactly does "a boatload" entail?   Well, they're not sure about that. And that's certainly understandable.  Until you've actually gone through the process of pre-qualifying and applying for a mortgage, there's typically no exposure to or need for that having that kind of information.  But if you're someone that: Already KNOWS you want to buy Are dreaming about homes online, etc. Are actively looking at homes Think you mig...
Comments 13
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Summer of 2019 - Pools, Splash Parks, & Water Parks to Enjoy Throughout Will County It's Summertime! Kids all across Will County and our entire nation are out of school for the summer.  And that's leaving many parents to deal with the age-old question ... "How do I keep 'em busy during the hot summer months?"  Throughout Will County, there are many healthy and positive ways to meet the needs of families facing this dilemma.  Swimming classes, water parks, and splash parks are just one such answer.  Will County is lucky to have many water facilities located within its borders for its residents (and visitors) to use and enjoy.  Some of the facilities are affiliated with local communities or their park districts.  Others are privately-owned businesses.  Both offer a great variety of acti...
Comments 10
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
   UltraFICO & Experian Boost Good Solutions to Your Credit Challenges?  Ever since the announcements regarding the new credit scoring systems "UltraFICO" and "Experian Boost" were made last year (and their subsequent implementation earlier this year), questions regarding their use, legitimacy, accuracy, and abilities have come my way ...   In most instances, the questions come from those considering home buying or refinancing but suffering from credit scores considered "fringe" or low scores ... either as a result of NO/little credit or credit issues having occurred.  They're looking for answers and fixes for the challenges they face. And challenges do exist.  While  FICO reports that, for the first time since tracking these stats, the average national FICO Score has reached the 700 th...
Comments 21
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Do You Have Plans for the Weekend? Those Plans Should Include Checking Your CreditAnother weekend is just around the corner ... do you have plans?    Silly question, I know.  But even if you already have a boatload of activities on your calendar, carve out enough time to add one more important activity.   Check your credit and credit scores!       It only takes a couple of minutes to request your free Credit Report on  annualcreditreport.com. You fill out a simple form and "viola"!  It's really pretty easy peasy.   While this one simple act is accomplished quickly and easily, it's well worth doing as it reaps you long-term benefits.  So once your busy weekend is behind you and you have a bit of downtime, make sure to take that time to sift through the valuable information received wit...
Comments 28
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Taking The Mystery Out of Credit Score Calculations Credit ... Credit Building ... Credit Repair ... Credit Reports ... Credit Scores ... Credit Scoring ...  I feel a bit like Bubba in Forrest Gump at times when I speak or write of credit-related things ...  Why?  Because such a large number of the questions I receive as a Chicagoland Mortgage Originator revolve around credit and credit topics.   And rightfully so, as credit ... and all things reliant upon credit ... make our world go 'round.  Our credit and our credit standing (via Credit Scores) affect everything about our lives.  From simple and modern daily needs like acquiring cell phones and securing insurance ... to important life needs.   Stop and think about it ...  In this modern age, housing (rental and purchase), employmen...
Comments 22
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Don't You Think I'm Sexy???If Not, You Should  Americans are fascinated with houses.  The internet, advertising, magazine racks, and TV viewing schedules revolve around them.  No matter whether it's buying, building, repairing, remodeling, decorating, flipping, investing, improving, beautifying ... whew, it's covered in loving detail.  There's a never-ending array and supply of conversation, advice, video, showcases, websites, and instruction surrounding each.  And who can blame people for being so fascinated?   Besides being beautiful, homes or "home" inspire us.  They are fodder for dreams.   They provide us protection and security, both literally and in the financial sense.  They wrap us in a sense of family and much much more.  In today's world, that means they're "sexy" ...   The...
Comments 20
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  A Decade of Housing Healing: Has it Created Opportunity for You?  It's now been around a decade since the big housing market crash ...   While many housing markets have cooled a bit, as of late ... the Home Equity Report for the last quarter of 2018 (and a quarterly overview of the distribution of equity across all U.S. single-family residential properties with a mortgage) by CoreLogic clearly shows that some healing has taken place ...   "U.S. homeowners with mortgages (which account for roughly 63 percent of all properties) have seen their equity increase by 8.1 percent year over year, representing a gain of nearly $678.4 billion since the fourth quarter of 2017."  That news  ... paired with current stable interest rates and increased housing prices ... has many homeowners wondering...
Comments 20
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Thinking About Buying Your First Home?How to Prepare Buying a home ...   While the end result ... a home of your own ... is an exciting thing to ponder, it also can be a bit nerve-wracking, can't it?   All sorts of questions race through your mind once you decide to buy ...  What do I need to do? What do I need to know? Who are the people that can help me? What kind of credit should I have?  Or money saved? How do I get started?  When will I know I'm prepared? More  Don't panic!   It's important to remember, there is absolutely no need for you to tackle and navigate the home buying process alone.  Experienced reliable help is readily available.  Tips and advice are easily found.  Online and via local professionals.   So relax and take a deep breath.  Try to enjoy your upcoming home bu...
Comments 17
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 PUD VS Condominium: Serious Differences Exist  PUD and Condo (Condominium) ... I'm sure you've heard or read these terms when talking or reading of something real estate-related.  They're kind of odd sounding.  Hard to forget. But beyond their rather funny names, what are they? What are their characteristics?  And when you buy/own one, what determines legal ownership? First:  Condo (short for Condominium), is probably the most commonly heard of the two terms.  A Condo property (typically referred to as a "Unit") lies within a legally platted Condominium site having a legally formed "Condominium Association".   A Condo property is established and recorded as such.  The recorded documents also establish "Declarations and By-Laws" and rules (known as covenants).  The rules outline, detail...
Comments 23
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Want an Advantage When It's Time to Buy?Be Ready With Your Mortgage Pre-Approval  A scenario I'm all too familiar with played out once again over this last weekend ... A phone call came in from a prospective home buyer.  They wanted to get pre-approved for a mortgage.  Their realtor had advised them that they needed a Pre-Approval Letter in order to submit an offer on a home they had viewed and fallen in love with. Time was of the essence, as they hoped to submit their offer to the home's Seller immediately.  Interest in the home was high and they were sure there would be multiple offers made. This was my first contact and conversation with this home buyer.  But from very first contact, we were in "crisis mode".  We shot from zero to 60 mph instantly.  And right out of the gate, these ...
Comments 19
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
  Easter Egg Hunts in the Lincoln-Way Area - 2019 The Lincoln-Way area, located in the far southwest suburbs of Chicago, is made up of 4 main communities ... Manhattan (my hometown), Mokena, New Lenox, and Frankfort.   Each of these four towns and their surrounding areas has seen major population and business growth over the last few decades.  Over that time, residents have seen big change.  There are increased services available from all levels of government and business certainly, but outlets and opportunity for much more have also arrived in the area. Spring and Eastertime provide ample showcasing of that being fact.  Each of the four communities, once again, is offering local residents multiple options to enjoy and celebrate the season.  The number of Easter Egg Hunts available for ...
Comments 8
By Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience
(NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656)
 Do You Have Pets?  Need Room for Them to Roam?  Our son, John, and his family recently added a new member to our family ... Lily.  A sweet playful beautiful black puppy. Lily is now Marilyn's and my "furry grandchild" and is quickly establishing her place in our lives.   As with all our grandchildren, we can't wait to see her ... and it's an absolute "must" that we have a pup treat of some kind for her each and every time we do.  I often find pup treat crumbs in my coat pockets these days. In the pic here, Lily is sleeping on her favorite blanket with her paw firmly on her favorite toy.  This toy and other puppy paraphernalia can now be found scattered throughout my son's home.  Truth told, there's a bit of it at our house once again too. After we visited our son's home this last weeke...
Comments 15