Straight talk on Real Estate in Chicago's Northwest Suburbs
It is a tiny picture of a good sized townhome! This buyer made out on a short sale purchase because of all her patience. If you have time on your side, and can keep from getting attached until final approval you may want to consider a short sale. There are many ups and downs to this type of transaction, and we will work through them with you. Search from all area listings here.
Crystal Lake Homes and Real Estate
Single Family
Active listings: 472
Under contract: 110
Sold & Closed: 387
Avg days on market: 255
Condo/Towhomes
Active listings: 153
Under contract: 28
Sold & Closed: 81
Avg days on market: 226
Crystal Lake homes for sale have already seen better results over 2008 this year. More single family homes have already closed in 2009 thand in all of ‘08. Townhomes and condos in Crystal Lake are not to the number of closings they had last year yet. There are double the number of under contract listings for all types this year which is a nice improvement. If that number continues to increase, we’ll be on our way to a more normal market. So there is still time for buyers to take advantage of low prices, low rates, and that generous tax credit that has been extended.
This data comes courtesy of MRED MLS and reflects activity from 1/1/09 – 10/31/09
Came across a good reference for tax credit questions and information put together by the NAHB. This breaks it down so it is easy to understand and you’ll be able to tell if you qualify right away. Check it out here.
Market Update for Palatine Homes and Real Estate – 11.7.09
Single Family
Active listings: 276
Under contract: 49
Closed: 252
Avg days on market: 249
Condo/Coach home
Active listings: 340
Under contract: 68
Closed: 213
Avg days on market: 235
Townhome
Active listings: 194
Under contract: 46
Closed: 193
Avg days on market: 203
It has been a busy year for the MisterHomes Group in Palatine. So it is just now that I am able to post a new Palatine market update. We plan to have these for you much more regularly in the coming months and years. 2009 showed slight improvements over ‘08 for Palatine Real Estate to date. In fact, townhomes in Palatine have done very well, there have already been more closed than in all of 2008. That is most likely due to the first time buyer tax credit and fantastic prices. Palatine single family homes have done about the same or slitghtly better than 2008 so far. Condos in Palatine continue to be a challenge (just like everywhere else) due to tougher financing guidelines and because they were overbuilt during the Real Estate boom early this decade. Prices for all property types continue to be low and market times high, but there are finally more sales this year which is a first step toward a better market for Palatine Real Estate.
This data comes courtesy of MRED MLS and covers 1/1/09 to 10/31/09.
The tax credit extension has now passed the House in addition to the Senate. So buyers have roughly 6 more months to take advantage of the $8,000 first time buyer tax credit. Plus the new $6,500 repeat buyer credit. More details to come, but you can read the latest here.
Earlier this year I helped a nice couple find a new home in the suburbs for their family. The Mrs. is Japanese and posted about her experience on her Japanese blog - in Japanese. Take a look! If you are not fluent, you can use the translate function (which she says is not the best) on the right, or just laugh at my photo.
191 Ferryville Drive, Lake in the Hills
Gorgeous 2 story home with 4 bedrooms and basement, listed for only $219,900 in Bellchase. This is why it is a great time to buy! Search for your Lake in the Hills home here.
Everybody is still waiting and wondering. There is speculation both that the $8000 tax credit for first time buyers will be extended and that it won’t. We’ll have to wait and see, but check out this article on the Trib web site from last night.
1485 Blue Heron Drive, Crystal Lake, IL 60014
Another first time buyer makes out on a great buy! 4 bedroom 2 story with basement in immaculate condition listed for $259,000 in Woodscreek subdivision. Find your next Crystal Lake area home here.
Get your own property with this move in condition duplex with many upgrades including: ceramic tile floors, hardwood floors, paver patio, big fenced yard and more! Kitchen features a mobile island and large pantry. Big loft perfect for office or add’l living space. Master bedroom has large walk in closet and master bath. Only $145,000. Full Listing.
