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This Sunday at 6:30 central, my episode of House Hunters will be on again! So if you have missed it in the past, now is your chance to check it out. The guide still says it is about a family in Harlem, but it will actually be me and my client who is looking in Streamwood and Elgin. On HGTV and HGTV in HD.
2008 Review for Elk Grove homes and Real Estate:
Single Family
Active listings: 124
Under contract: 12
Sold & Closed: 118
Average days on market: 205
Condo/Towhomes
Active listings: 144
Under contract: 8
Sold & Closed: 101
Avg days on market: 194
What’s ahead for 2009 Real Estate in Elk Grove, Illinois? If you want to sell, it is critical to price your home aggresively to have a shot. People have sold, but they had to price accurately for the market. The next few months will give us an idea of the overall attitude going into the Spring. With historically low interest rates and great prices, buyers should feel confident in making a move in Elk Grove – this is one of the best times ever to buy a home.
Data from MRED MLS from 1/1/08 – 12/31/08 for closed listings.
2008 Review for Palatine Homes and Real Estate:
Single Family
Active listings: 283
Under contract: 15
Closed: 267
Avg days on market: 264
Condo/Coach home
Active listings: 304
Under contract: 101
Closed: 254
Avg days on market: 229
Townhome
Active listings: 243
Under contract: 18
Closed: 175
Avg days on market: 221
You can see how many properties did sell and close in Palatine in 2008 – almost 700 combined. This shows that despite what you see on TV you can sell your home. When pricing, it just has to be listed very competitively to attract a qualified buyer. If you are considering buying a home, this may be the opportunity of a lifetime. With super low interest rates, and great prices you can find what you want and have a comfortable mortgage payment too!
This data comes courtesy of MRED MLS and covers 1/1/08 to 12/31/08.
Immaculate brick ranch in pristine condition – Norwood Park! Updates include: Roof (tear off!) ‘03, Furnace – Air Conditioner – Humidifier ‘02, Cement walkways ‘07. Hardwood floors, ceiling fan, 2 car garage. All appliances included, washer/dryer 1 yr old, newer refrigerator. Basement with plaster ceiling and rough-in bath ready to be finished off. Agent related to seller.
6353 W Peterson, Chicago - Norwood Park
Market update reflects the last 3 months.
Single Family
Active: 207
Under Contract: 20
Sold and Closed: 71
Average days on the market: 132
Condos and Townhomes
Active: 527
Under contract: 32
Sold and Closed: 120
Average days on the market: 130
Schaumburg Real Estate and homes has slowed down in the past couple of months. Properties are still selling but only the properties that are the best value. Once we see a sign of stability in the economy buyers are going to come out and take advantage of the inventory. It is only a matter of time!! It will happen!
With the glut of foreclosures and the media hype that goes along with them, you may have seen ‘listings’ that seem too good to be true. It turns out that in many cases these ultra low priced ‘listings’ may never truly be listed at the price offered, or do not really exist at all.
I recently came across an article that does a great job of explaining this phenomenon in Real Estate industry publication Inman News, you can read it here. You’ll notice that one of the CEO’s of these services even admits that many of the properties are ‘not for sale’!!
It seems odd that the foreclosure services can advertise in this way. It is entirely misleading to the consumer. And meanwhile they take your credit card info and charge it up every month for lists of properties you can’t buy if you wanted to. If I tried this I would lose my license. But then again, most of the normal ‘rules’ of doing business do not apply to foreclosure brokers.
Schaumburg Real Estate and homes market update-1st quarter of 2008!
Single Family
Active 214
Under contract 48
Sold and closed 37
Average days on the market 151
Condos/Townhomes
Active 410
Under contract 105
Sold and closed 106
Average days on the market 125
Schaumburg Real Estate is selling better than most areas! About 20% of what’s on the market is under contract now, that is an improvement!! If you are priced right and are willing to wait it out it will sell. There still is a high number of homes available in Schaumburg. It will take some time before the inventory reduces. It is a great time to buy Real Estate in Schaumburg! Rates are very low and sellers are willing to get the deal done!
Barrington Real Estate and homes
Single family Condos/townhomes
Available 454 98
Under contract 44 5
Closed this year 9 10
This is where we are this year in the Barrington area. Alot of listings to choose from. Buyers welcome!
The Illinois Legislature is again considering raising Real Estate transfer taxes in Chicago to fund the RTA and CTA. Transfer taxes, in my opinion, are already ridiculous fees imposed on homeowners by the state, county, and local towns. A few years ago, the Illinois Association of Realtors was succesful in requiring voter input before a transfer tax could be imposed. Now Illinois is trying to raise them anyway. You may not live in Chicago, but if the Legislature gets away with it there, none of us are safe. Just Say No!
To call your STATE legislator, go to www.ilga.gov to find your legislators’ Springfield phone numbers (the one with a 217 area code). Click on “Legislator Look-up” Or, dial 217/782-2000(Capitol switchboard) and ask to be transferred to your legislator’s office if you know the name.
Thank you for all of your support this year! You have helped make us #33 on RE/MAX of Northern Illinois Top 100 Teams YTD through August. In this tough buyer’s market, we can’t stress how much we appreciate the trust you’ve placed in us.
