Thomas E. Haught Archives - Gardi, Haught, Fischer & Bhosale LTD

Category : Thomas E. Haught

Category : Thomas E. Haught

2024 real estate market trends

Where is the Illinois real estate market headed in 2024?

By Thomas Haught Home prices, mortgage rates and inventory levels in Illinois will shape housing affordability in the coming year. What trends are expected in 2024 in the residential housing marketing in Illinois? Interest rates When inflation is high, interest rates rise. A higher interest rate means a higher monthly payment. So, of course, that

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real estate attorney illinois

Why you need a real estate attorney when you sell or buy a home in Illinois

By Thomas Haught Do you need to retain the services of an attorney to sell your house in Illinois? Technically, the answer is “No.” Practically, the answer is “Of course you do!” When you sell a home in Illinois, your real estate attorney will review the contract, monitor contingencies, order and clear the title, procure

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Illinois housing meltdown

Here’s why Illinois housing meltdown is unlikely

By Thomas E. Haught Although we’ve recently seen home prices stabilize, the number of homes sold is falling, homes are staying on the market longer and interest rates (although, big picture, are still incredibly low) are up. With the likelihood of a recession looming, are we looking at another housing meltdown (think 2008)?  The first

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Real Estate Market

The Rollercoaster that We Call the Real Estate Market

By Thomas Haught Is real estate still hot, or not? Are current real estate trends good, bad or somewhere in between?  At the beginning of the COVID-19 pandemic, the general assumption was that the real estate market was going to suffer. That did NOT happen. Instead, we saw one of the strongest real estate markets

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small business steps

What you should consider when buying a small business

By Thomas Haught Be your own boss. Make your own hours. You call the shots! Have you ever considered purchasing a small business? Here is a non-exhaustive review of the documents you should expect to receive at your small business closing. Seller resolution. The owner of a small business will almost certainly be an entity,

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commercial real estate

Despite competitive real estate market, a house selling ‘as is’ can still be inspected

By Thomas Haught  In my 23-year career, 2021 was the fiercest, most competitive year that I have ever seen for prospective purchasers of a home.   We had homes that were listed at 9 a.m. and were under contract before noon on the same day, while the seller had multiple bids. We saw sellers receiving 20

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Employers should exercise reason when considering mandatory COVID-19 vaccines for employees

By Thomas Haught Can an employer require employees to get a COVID-19 vaccine?  Ask 10 experts and get 10 different responses.  Before push comes to shove, the reasonable approach is for employers to simply encourage vaccination.  Allow employees to get vaccinated on work time, without docking pay.  Allow an employee a day off if they

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Buying and Selling a Home During a Global Pandemic

At first glance, buying or selling a home during a pandemic may look impossible. Selling a house is hard enough when conditions are perfect. Even when the economy is strong and we are not experiencing a global pandemic, properties can linger on the market for months. If you add a stock market on a roller

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wholesale real estate


NEW LEGISLATION ALERT FOR REAL ESTATE INVESTORS: Wholesale Real Estate By Tom Haught In the last several years, a niche real estate strategy, known as wholesaling, or wholesale real estate, became very popular. Basically, Buyer A signs a contract to purchase a property. But instead of closing on that property, Buyer A sells and assigns

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Know Your Contract: The Multi-Board Residential Real Estate Contract 7.0

KNOW YOUR CONTRACT: THE MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0 By Tom Haught There’s a new contract in town: the Multi-Board Residential Real Estate Contract 7.0. The 7.0 was approved in 2019 as the new standard contract for purchasing residential real estate in Illinois. The Multi-Board Residential Real Estate Contract 7.0 seeks to correct what

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