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Midwest Real Estate Data Announces Hiring of New CTO Chris Haran

Chris Haran
LISLE, Ill., Mar 14, 2018 – Midwest Real Estate Data is pleased to announce industry veteran Chris Haran will be joining MRED as its Chief Technology Officer (CTO).

Haran comes to MRED from real estate franchise Coldwell Banker, where he served as Vice President of Field Operations. In this executive role, Haran led the company’s strategic efforts as well as organic growth and marketing initiatives. Haran started out in entry level marketing at Coldwell Banker in 2006, working his way up to management positions before starting his Operations VP role in 2015.

This opportunity gave Haran firsthand experience with MRED, as he served on its Board of Managers from 2015-2017. During this time, Haran represented MRED on the Board’s Technology Focus Group. These experiences and more made Haran an ideal candidate to thrive in this vital role.

“Being a pioneer of technology is of the utmost importance to MLSs and I know that Chris is the perfect person to keep MRED at the forefront and push us ahead even farther.” said MRED President/CEO Rebecca Jensen. “Bringing in Chris is a huge milestone for MRED and our customers.”

Haran is a 2005 graduate of Illinois Wesleyan University. He also spent time as a mentor for the National Association of REALTORS® REach program as well as Moderne Ventures, advising startup companies on business plans.

At MRED, Haran will create and implement the strategic vision of technology, a prospect that excites the Illinois native.

“This opportunity is the perfect way to make the most of my passion for emerging technologies and connecting people, ideas, and resources,” Haran said. “MRED is doing big things and I can’t wait to be a part of that.”

About MRED

Midwest Real Estate Data (MRED) is the real estate data aggregator and distributor providing the Chicagoland multiple listing service (MLS) to more than 40,000 brokers and appraisers and over 7,300 offices. MRED serves Chicago and the surrounding “collar” counties and provides property information encompassing northern Illinois, southern Wisconsin, and northwest Indiana. MRED delivers more than 20 products and services to its customers. MRED is the 2013 Inman News Most Innovative MLS/Real Estate Trade Association, and for nine consecutive years the MRED Help Desk has been identified as one of the best small business centers in North America by BenchmarkPortal. For more information please visit MREDLLC.com.

Contact:

Jeremy Sharp
Midwest Real Estate Data LLC
jeremy.sharp@mredllc.com
630-799-1402

May Brings Higher Illinois Home Sales and Prices

Statewide home sales picked up in May and properties sold quickly even as median prices tracked higher than a year ago, according the latest report from Illinois REALTORS®. Statewide home sales increased 3.8 percent to 17,077 homes sold and the statewide median price rose 8.3 percent to $209,000. Find market talking points and the forecast, and watch a new video on May housing market trends.

links.illinoisrealtors.org

Blog post via Illinois REALTORS®

Renters can afford pricier-than-average homes without increasing monthly expenses

Renters paying the median U.S. rent could afford a house that is 50 percent more expensive than the median U.S. home value, according to a new Zillow study. The study found that with an increase in rent prices across the country and low interest rates, many renters could afford pricier-than-average homes in their current cities without increasing monthly expenses.

Zillow looked at the median rent payment in 50 cities across the United States to see how much home those renters could afford without spending more than they currently spend on rent.

The median rent in the United States was $1,416 in March, which would cover the monthly expenses for a home up to $289,500, which includes the mortgage payment, property taxes, homeowners’ insurance and maintenance and renovation expenses. It also assumes a 20 percent down payment, which many first-time homeowners may not be able to provide.

According to Zillow, 57 percent of the available for-sale inventory nationally is listed for under $289,500 and the median U.S. home value was $196,500 in March.

“Renters hesitant to enter the home buying market for fear of not being able to find an affordable home should be encouraged to discover they may have more options than they thought,” said Zillow Chief Economist Dr. Svenja Gudell. “However, it’s worth noting that many of the more affordable homes for sale may be older, smaller and/or located in less-desirable neighborhoods than they might like.”

In Chicago, the average rent in March was $1,650, which would allow those prospective buyers to afford a home up to $337,347. The median home value in March 2017 in the city was $220,900.

Blog Post via Chicago Agent Magazine

Homes are Selling Fast Across the Country [Infographic]

Major Enhancements are LIVE in connectMLS!

connectmls

You asked, we listened! Based on your feedback, some major changes and upgrades have been made to photos and the Private Listing Network (PLN)!

Photo Highlights:

  • image001

    Unlimited photos per listing (think before you print!)

  • High Definition (HD) photos
  • Restrict selected secondary photos from being distributed to third party websites (ex. IDX, realtor.com, etc.) when the listing goes off-market (Photo rule has been revised)

NOTE: Please be aware that with unlimited photos, if you are printing reports, the number of pages of the report will increase. Please use print preview before printing!

Learn More »

 
Private Listing Network Highlights:

  • Search for homes via a map search!
  • Create a search and receive email notifications when listings become available
  • Create your own custom reports
  • Use “Next” and “Previous” to move between listings
  • And much more!

Learn More »

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Are you experiencing issues or have any questions? You can always contact the MRED Help Desk at 630-955-2755 or help.desk@mredllc.com

Again… You Do Not Need 20% Down to Buy NOW!

20170403-Share-KCM

A survey by Ipsos found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. There are two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 40% of consumers think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO® Scores 

The survey also revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in February had a credit score of 752, while FHA mortgages closed with a score of 686. The average across all loans closed in February was 720. The chart below shows the distribution of FICO® Scores for all loans approved in February.

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Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, sit down with a professional who can help you understand your true options.

Blog post via KCM Blog