Mortgage rates are not an issue right now for buyers here in May of 2023 as the interest rate ranges between 6.35% and 6 1/2%, No that’s not stopping Byers at all. Buyers are actually lining up in droves right now and placing offers without 2nd or 3rd showings, without thinking it over, sleeping on it, and without waiting to see a property until the weekend, because it will be gone by the weekend.

Hi, It’s John Herman of PropertyUp and I work with families going through Probate and selling homes in the northwest suburbs of Chicago.

The real issue right now for the real estate market is inventory. Recently http://realtor.com reported that “Newly listed homes have plunged about 21% compared to a year ago”.
And the inventory that http://realtor.com reported that came on the market last year was not anything too exciting about either as that was also much lower than it should have been. When you go to http://propertyup.com/realestate and choose your town, you will see almost every city in the Northwest Suburbs has very little inventory to choose from and lots of towns would not have any homes for sale in about 2 months’ time if no one else listed their home starting today, that is crazy to think about!

My probate tip for the month is:

Privacy, it seems we do not have much privacy anymore these days and when your estate goes into probate it becomes public information, even the will and all of its information found in it. The reason probate is not private is basically to ensure the creditors are paid on the death of your loved one. One way to keep your business private is to create a Trust. A trust will be a private family matter that will not be published to the public and the creditors will not have the ability to obtain payment through the Trust, let me say that again, the mortgage company, credit card companies, and other creditors will not have the ability to take any money from the estate so your privacy gain from a trust is really important, if you are considering getting a trust please reach out to me and I will get things started for you.

Thanks again, my name is John Herman of PropertyUp, make it a great day.