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Welcome to My Website
My name is Kevin Burke a Top Producing Realtor for RE/MAX Synergy located in Orland Park. Specializing in Residential Home Sales throughout the Chicagoland area. I will provide you with great service in purchasing or selling your next home. Please enjoy this site and contact me when you are ready to make a move.
ACCORDING TO RECENT REPORTS
UNEMPLOYMENT RATES ARE DROPPING
AND
HOME PRICES ARE EXPECTED TO RISE !!!
CALL KEVIN BURKE TODAY
AT 708-805-1754
TO FIND OUT WHY
THIS IS A GREAT TIME TO BUY
View Kevin Burke's Video Collections at http://www.youtube.com/user/RealtorBurke?feature=mhum
SALES, MEDIAN PRICES SHOW GAINS IN OCTOBER IN ILLINOIS
Statewide home sales (including single-family homes and condominiums) in October 2012 totaled 11,775 homes sold, up from 8,577 in October 2011. The last time this many houses sold in October in Illinois was in 2006 when 13,067 homes were sold.
The statewide median price in October was $133,750, up 3.0 percent from October 2011 when the median price was $129,900. The October median price reflects a 12.9 percent gain from the year’s low point of $118,500 in February 2012. The median is a typical market price where half the homes sold for more and half sold for less.
“The rebound we have seen so far this year is impressive by any measure,” said Michael D. Oldenettel, CRS, GRI, President of the Illinois Association of REALTORS® and Managing Broker/Owner with RE/MAX Results Plus in Jacksonville, Ill. “To have strong sales and median price gains as we enter the last quarter of the year is encouraging for buyers and sellers who are clearly feeling more confident about the housing market.”
October 8, 2012
Asking prices post biggest increase since bust began
Home prices on real estate portal Trulia's website were up 2.5 percent in September from a year ago, the largest year-over-year increase since the housing recession began, according to a monthly report from Trulia.
The increase portends that 2012 will likely see the first calendar-year list price increase since 2006, said Jed Kolko, Trulia's chief economist.
The report, which covers for-sale and for-rent properties listed on Trulia through Sept. 30, showed that asking prices on for-sell homes posted annual gains in 74 of the 100 largest U.S. metro areas.
May 26,2012
It’s no mystery that housing has been on a bumpy path since 2007, but the past month, a wide range of data has come out all but endorsing a new housing recovery.
From home sales, to interest rates, to construction data, everywhere you look nowadays, there’s another reason to smile about where housing is headed. And with that in mind, here are the eight reasons to be ecstatic for real estate in 2012:
- Home Sales – Existing-home sales in April were 14.4 percent higher than last year, and new home sales were 9.9 percent higher in the same period. Nowhere were these gain more apparent than in Midwest, where existing-home sales were up 7.4 percent and new home sales 28 percent (and 20 percent in Chicago).
- Prices – Long the black eye to housing’s progress, prices have begun tightening up. The median price for existing-homes was up 10.1 percent from last April, and values were up in CoreLogic’s latest HPIfor the first time since July 2011.
- Inventory Levels – The nation’s housing inventory has remained low, further stimulating buyer demand. New-home inventory is near record lows at 5.1 months supply, and for the overall market, inventory is 21 percent lower than last May.
- Interest Rates – Rates on fixed-rate mortgages continue to reach historic lows, with rates for the week ending May 17 falling to 3.79 percent…until they fell further for the week ending May 24 to 3.78 percent.
- Incomes – Realtor income increased by 2.3 percent in 2011, according to NAR’s latest member profile.
- Affordability – Housing affordability is now at a 40-year high, according to research from Case-Shiller Fiserv.
- Foreclosures – Foreclosure filings in April were the lowest in five years, falling 14 percent from last year.
- Construction – Housing starts were up nearly 30 percent in April from last year, and spending for March, the most recent month of data from the Census Bureau, was up 6.0 percent from March 2011. As a result, builder confidence has soared to its highest levels in five years.
source:Chicago Agent Magazine
Home Sales on the Rise: Ready for Spring Buying Season?
DAILY REAL ESTATE NEWS | THURSDAY, FEBRUARY 23, 2012
Existing-home sales rose 4.3 percent in January to a seasonally adjusted annual rate of 4.57 million, marking the third gain for home sales in the last four months, the National Association of REALTORS® reports.
“The uptrend in home sales is in line with all of the underlying fundamentals – pent-up household formation, record-low mortgage interest rates, bargain home prices, sustained job creation and rising rents,” NAR’s Chief Economist Lawrence Yun says.
While sales ticked up, inventories of for-sale homes also continued to show improvement, NAR reported. At the end of January, total housing inventory fell 0.4 percent to 2.31 million existing homes for sale, which represents a 6.1-month supply at the current sales pace.
“The broad inventory condition can be described as moving into a rough balance, not favoring buyers or sellers,” Yun says. “Foreclosure sales are moving swiftly with ready home buyers and investors competing in nearly all markets. A government proposal to turn bank-owned properties into rentals on a large scale does not appear to be needed at this time.”
Unsold listed inventory has steadily dropped since reaching a peak of 4.04 million in July 2007. It now is 20.6 percent below where it was a year ago, NAR reports.
December 29, 2011
New Program for Illinois Military Families
The Illinois Housing Development Authority (IHDA) is extremely proud to announce to Illinois military families an exclusive, comprehensive finance package of $10,000 in down payment assistance, 1st mortgage product, and a mortgage credit certificate together! The Welcome Home Heroes program is open to all qualified Illinois veterans, active military personnel, reservists and Illinois National Guard members.
The financing package includes:
- A $10,000 forgivable loan over two years for down payment and closing cost assistance
- A 30-year fixed rate mortgage that has an affordable interest rate (4% as of 12/14/11)
- An optional mortgage credit certificate to reduce federal income tax liability
Foreclosures
Are you looking to purchase a foreclosed home. Call Kevin Burke at 708-805-1754 for expert advice on shopping for bank owned properties.
I represent buyers at auction and am very successful in helping them purchase homes at a GREAT price.
RENTAL MARKET
RENTING A HOME IS VERY POPULAR THESE DAYS. IF YOU WANT HELP RENTING A HOME CALL ME AT 708-805-1754
FOR PROFESSIONAL ADVICE AND SERVICE.
HOME OWNERS
ARE YOU INTERESTED IN RECEIVING A FREE NO OBLIGATION MARKET ANALYSIS.
JUST SEND ME YOUR NAME AND ADDRESS VIA FAX AT 708-777-4754 OR E-MAIL AT RealtorBurke@hotmail.com
AND YOU WILL RECEIVE AN UPDATED LIST EVERY 2 WEEKS OF THE HOMES IN YOUR NEIGHBORHOOD THAT HAVE SOLD OR CURRENTLY AVAILABLE FOR SALE.
To view my service provider list go to "my profile"
ARE YOU OR SOMEONE YOU KNOW INTERESTED IN BUYING OR SELLING OUT OF STATE. PLEASE GIVE ME A CALL AT 708-805-1754. I AM A LICENSED REALTOR IN INDIANA AND HAVE CONNECTIONS THROUGHOUT THE WORLD. PLEASE VISIT MY INDIANA WEBSITE REALTORKBURKE.COM FOR YOUR REAL ESTATE NEEDS.
KEVIN BURKE IS YOUR LOCAL
RE/MAX AGENT...CALL TODAY AT 708-805-1754 In today's Cook and Will County real estate market, finding the right real estate agent representation is critical. With real estate expertise for both home buyers and sellers in Orland Park, Orland Hills, Tinley Park, Mokena, New Lenox, Frankfort, Homer Glen, Lockport, Joliet, Lemont, Palos Hills, Palos Park and Palos Heights and all surrounding Cook and Will County, IL areas, you've found the right source for all of your real estate needs. Whether you are looking for a new Orland Park home or property or you are in the preliminary stages of the Orland Park real estate search, I can help. I specialize in Orland Park real estate as well as real estate buying and selling services for all major communities in Cook and Will County including Orland Park, Orland Hills, Tinley Park, Mokena, New Lenox, Frankfort, Homer Glen, Lockport, Joliet, Lemont, Palos Hills, Palos Park and Palos Heights. http://www.realtorburke.com is the website to search for homes. The database includes (and is not limited to) the Orland Park area which offers many beautiful neighborhoods and subdivisions. Among the most popular Orland Park subdivisions are Breckenridge, Brittany Glen, Carriage Ridge, Catalina, Centennial Village, Charleton, Colette Highlands, Crystal Meadow, Eagle Ridge, Evergreen, Fountain Hills, Georgetown, Heritage, Ishnala Estates, Lakeview, Long Run Creek, Manor Homes of Somerset, Meadowbrook Estates, Millers Victoria Place, Orland Ridge, Pepperwood, Preserve, Silo Ridge Estates, Southmoor, Tiffany Garden, Treetop and Village Square.
Through my real estate web site, you have the ability to search virtually every home for sale in Orland Park, Orland Hills, Tinley Park, Mokena, New Lenox, Frankfort, Homer Glen, Lockport, Joliet, Lemont, Palos Hills, Palos Park and Palos Heights and all other local areas. In addition to accessing homes and real estate for sale in Orland Park, Orland Hills, Tinley Park, Mokena, New Lenox, Frankfort, Homer Glen, Lockport, Joliet, Lemont, Palos Hills, Palos Park and Palos Heights, this web site features comprehensive community information for Orland Park, Orland Hills, Tinley Park, Palos Hills, Palos Park and Palos Heights that will help guide you in selecting the right real estate or home for sale.
Are you considering selling your house in the coming months? Ask me about my three-steps to a top-selling price:
1. Monitor the market with "My Property Finder"
2. Obtain a current market value assement.
3. Get my tips for dressing your home for maximun selling price.
BUYERS
View ALL the properties listing for sale in your market though "My Property Finder". You will also have access to the advanced research tools available.
Note: The MLS Requires registration to see all listings.
DAILY REAL ESTATE NEWS | MONDAY, APRIL 15, 2013
Some housing analysts are concerned that the sudden rise in home prices could make homes more unaffordable again if the price increases outpace income growth, The Wall Street Journal reports.
Average housing costs for home buyers who took out a mortgage were around 22.5 percent of average incomes, according to John Burns Real Estate Consulting. That is down from 38.5 percent in 2006, the peak of the housing bubble. The historical average is about 33 percent.
But with home prices rising in many markets and, in some, rising at a faster pace than income levels, will more people soon be priced out of the market?
Housing analysts say that, for now at least, lower mortgage rates are offsetting the higher prices of homes.
Borrowers have seen their purchasing power rise by around 33 percent over the past four years due to the low interest rates, The Wall Street Journal reports. For example, a borrower can make a $1,000 monthly mortgage payment and qualify for a $222,000 mortgage at today’s low interest rates, compared to 2008 when they’d likely qualify for $165,000 when mortgage rates were around 6.1 percent -- nearly double what they are today.
Borrowers are able to withstand home-price increases because of the low rates, not because household incomes are growing, The Wall Street Journal reports. If mortgage rates tick back up to the 6 percent or 8 percent range, homes may look overpriced relative to incomes, according to housing analysts.
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