09/21/2009
The Chicago Association of Realtors and the Illinois Association of Realtors have both been vocal in press releases that the recently tightened Fannie Mae and Freddie Mac loan requirements for condominiums are squeezing sales in Chicago. Here are some of the new rules recently put in place for buyers seeking to obtain a Fannie or Freddie backed mortgage on a condominium: For new construction and newly converted condominium developments, at least 70% of the units must be pre-sold (closed or under contract).
09/20/2009
September 20, 2009 Eleven Mistakes Inexperienced Landlords MakeCourtesy of InvestopediaWith the housing market collapse many investors who have been fortunate enough to preserve their cash, or maintain access to credit, are snapping up incredible deals on residential properties to try their hand at real estate investing.While it may sound easy enough — buy a home, make a few renovations and rent it out for more than the monthly mortgage payment — successfully managing your own investment properties requires the mindset of a business professional.
