Video: Factors impacting the Illinois housing market #IARMarketStats

In a new video, the Illinois Association of REALTORS® interviewed Dr. Geoffrey Hewings, director of the Regional Economic Applications Laboratory at the University of Illinois, about where the state’s housing market is going. Among factors he cites: Uncertainty about the election and a perception that credit may be too tight.

Morning Minute: Is rising student loan debt impacting housing?

A new study from John Burns Real Estate Consulting estimates that growing student loan debt is making it harder for younger buyers to afford a home and that will negatively impact the housing market, HousingWire reports in the article, “Student debt costs housing $83 billion a year.

One stat from the John Burns study: Every $250 per month in student debt reduces a household’s home purchasing power by $44,000. Read the study and the HousingWire coverage.

In other headlines:

Rising home prices a ‘bright spot’ in Rockford area – Rockford Register Star

Average price of homes sold in Rockford increases – WREX

Northeast Owners Pay Highest Property Taxes (Illinois ranks No. 6) – Daily Real Estate News

Quick home maintenance tips to tackle this fall

Photo credit: BigStock

It’s fall and as the leaves and temperatures begin to drop, it is a great time to take care of some of the home maintenance tasks that need to be done to prepare your home for the winter. HouseLogic, an online resource from the National Association of REALTORS®, offers a seasonal maintenance guide for homeowners in the Midwest.

Find the whole article and checklist but here are a few of the suggested projects to add to your fall to-do list:

  • Take a day to seal coat your asphalt driveway to repair cracks
  • Clean leaves and debris out of your gutters
  • Call a technician in to check your furnace before you use for the winter
  • Prune back any trees or shrubs near your home

Find more homeowner resources at www.houselogic.com

Morning Minute: Mortgage applications climb 3.8 percent

Mortgage applications are rising again, climbing 3.8 percent compared to the week before, according to the Mortgage Bankers Association. Applications for refinance applications also rose 5 percent. HousingWire reports on the development in the article, “Mortgage applications reverse trend rising 3.8%.”

In other headlines:

9 States Surge to New Home-Price Highs – Daily Real Estate News

The Long-Term Rise of Condo Sales – CoreLogic

Morning Minute: Consumers feeling more positive about the housing market

Photo credit: BigStock

Sixty-eight percent of Americans say now is a good time to buy a home, a four-percentage-point jump compared to August, according to Fannie Mae’s September National Housing Survey. Consumers are also feeling more optimistic about the economy in general, the survey found. Looking ahead, Fannie Mae Chief Economist Doug Duncan said that while market bumps may occur, a measured housing recovery is expected to continue in 2015.

In other headlines:

Fannie Mae: America’s attitude toward housing rebounds – HousingWire

Is 2014 the Year of the Fresh Start? – CoreLogic

NAR Wins Rights to ‘.Realestate’ Domain – Daily Real Estate News