Elk Grove Village, IL Real Estate News

By Lyn Sims, Real Estate Agent Retired
Top Winter Selling Tips Keep it Cozy: You may be energy conscious during most winter days, but when potential buyers are on the way you will want to turn the thermostat up a few degrees in advance. You want you home to be comfortable for a wide range of visitors.Time the Light: Having indoor and outdoor lights on timers is not only smart from a security standpoint, but it can also make your home look warm and inviting to buyers passing by when you're not at home. Make sure there is enough outdoor lighting to properly show off your home during the darker winter months. (Don't forget that it can get dark at 4:00 here in Illinois.) Wash windows: You're already battling a lack of natural light, so make sure your home fully takes advantage of what light there is! Thoroughly clean exterior wi...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Villa Park, IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria.   Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 96 283 $150,000 - $199,999 45 262 $200,000 - $249,999 56 247 $250,000 - $299,999 39 297 $300,000 - $349,999 31 213 $350,000 - $399,999 5 232 $400,000 - $449,999 4 467 $450,000 - $499,999 2 260 $500,000 - $549,999 3 202 $600,000 - $699,999 1 557    Active Listings Summary # Units Avg. MT Median List Price...
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By Lyn Sims, Real Estate Agent Retired
More and more sellers are being forced into being landlords.  Months and months of homes sitting on the market unoccupied can no longer be tolerated financially so something must be done. In order to keep your financial 'self' in tact you must do what you have to do.  I understand it's a tough decision to make.  You must give up 'mental and physical' possession of a home that you hold dearly.  Fond family memories of where your children might have grown up, the dog in the yard.  But today's real estate market is different - financial sacrifices might have to be made.   You're about to be a landlord.  But can you handle it?  Can you handle someone else taking physical control of your property?  Worried about possible damages and we've all heard horror stories about what a tenant can and ...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Elk Grove Vilage, IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 89 299 $150,000 - $199,999 49 230 $200,000 - $249,999 59 218 $250,000 - $299,999 46 305 $300,000 - $349,999 27 243 $350,000 - $399,999 7 108 $400,000 - $449,999 4 420 $450,000 - $499,999 3 225 $500,000 - $549,999 2 268 $600,000 - $699,999 1 526    Active Listings Summary # Units Avg. MT Median List P...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Elk Grove Village IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 87 300 $150,000 - $199,999 53 262 $200,000 - $249,999 65 209 $250,000 - $299,999 51 259 $300,000 - $349,999 29 227 $350,000 - $399,999 10 189 $400,000 - $449,999 4 391 $450,000 - $499,999 3 196 $500,000 - $549,999 2 239 $600,000 - $699,999 2 753    Active Listings Summary # Units Avg. MT Median List ...
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By Corinne Guest, Barrington Lifestyles
(Corinne Guest, REALTOR® | Barrington Realty Company)
Elk Grove Village Real Estate - Town homes - Hamptons - Elk Grove Estates - Talbots Mill - Arbor Club Elk Grove Village real estate offers town homes for sale in several subdivisions and with prices starting at $135,000 offer a budget minded alternative to a single family home but yet you'll get your own front door unlike a condo. Prices go as high as $339,000 and some of the town homes in Elk Grove Village benefit from having basements. Town homes are for sale in: Hamptons East Hamptons Hampton Farms Elk Grove Estates Talbots Mills Arbor Club Fox Run Huntingdon Chase Roundtree Commons With a few exceptions you'll be able to buy a 2 or 3 bedroom town home and have a garage as well, perfect for the upcoming ice scraping months of winter. It was not so long ago that these prices would onl...
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Does the Lender know you're doing an Office Exclusive on that REO? One reason that I use Google Alerts is to see what is coming on the market and what other agents are doing to advertise their listings.  Keep a sharp eye on that competition!  So while perusing the area alerts I happen to see a property at a very, very good price.  Must be an REO?  Why haven't I noticed it before?Check in the MLS and there is nothing for sale in that town for that price, hmmmm?  You know what I'm thinking here right?  Yep, it's an office X and the agent is trying to troll in buyers to her new listing.  That in itself I don't mind but in this market with probably 10 months supply of inventory is that a wise move?  I don't think it is and I don't think it is working in the sellers best interest.  I just ca...
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By Lyn Sims, Real Estate Agent Retired
Mortgages Hit Lowest Levels Since 1950s Thirty-year fixed mortgages slipped to 4.27 percent this week, the lowest on record dating back to 1971, from 4.32 percent last week. A drop in interest on 15-year loans to 3.72 percent from 3.75 percent, meanwhile, was the lowest on records dating back to 1991. Freddie Mac also reported that the five-year adjustable-rate mortgage fell to 3.47 percent from 3.52 percent last week, and the one-year ARM dropped to 3.40 percent this week from 3.48 percent.This is a great boon to buyers who should take advantage of these great rates and take advantage of today's great values.   With every 1/4% that interest rates drop it makes a home just that much more affordable.    Percent difference $100,000 $200,000 $300,000  1/4% rate savings = $  per month     $...
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How to describe this market for Elk Grove IL Homes?  Unbelievable! A now retired agent in my office used to say this to encompass every conceivable change or option and still stay positive!  I'm going to loudly reiterate that phrase to update you on recent Elk Grove IL Home sales.Total inventory for Elk Grove IL Homes is at 10.9 months currently and down from the 16.6 months of August.  Things are actually looking much brighter over last years December 2009 inventory of 127 months.  And that's not a typo either.  What that number suggests is that sales were totally stalled.Added inventory is going to make your home take longer to sell (especially going into the winter months).  More inventory is great for buyers but not welcomed obviously as a seller.  Keeps prices down and sellers are ...
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By Lyn Sims, Real Estate Agent Retired
Interesting question brought up on my 'Smallest House' post about financing problems on this 'peanut' of a house (I mean cozy of course).  Perrin Cornell brought up a point about lenders having a minimum square footage amount for a property.  I had never heard of this but it's better to be proactive right?I started with email questions to all the lenders that I normally use.  My fingers were setting fire to my computer keys!"The square footage on this house is only 580 are we going to have a problem?  Is there such a thing as too small of a house to lend on?"I can't say that I was amazed at the speed my LO's got back to me (another post).  The one friend that can no longer originate in IL (company preference now) got back to me the fastest & he can't even do the loan!  The other 'in hou...
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By Lyn Sims, Real Estate Agent Retired
Winner of the 'What were You Thinking' Award I get Google Alerts for the different areas that I market in just to keep on top of things.  All things, good and bad.  This one made me laugh & then I thought, gosh, how pathetic is this.  Clicked on the link and it took me to a $700,000 house!  If I was the seller of that home I would be furious.  Cheap Homes For Sale - what a marketing genius this person is!  Better yet ..... why not make the minimum listing price at $500,000 just to be more ridiculous! I think that trying to get the edge, this agent drove off the cliff with this website name.  A few possible others maybe?Wrecks R UsGutters to GoBetter Homes & GuttersBasements That Flood .comShacks in ShamblesBurn Me for the Insurance .com Any other suggestions?
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By Lyn Sims, Real Estate Agent Retired
Run or Walk for Animal Rescue a Success! Almost Home Foundation sponsored a walk for local animal rescue.  I brought my dog, Bella, which was adopted from Almost Home nearly 3 years ago to enjoy the day.  This event was in a really nice corporate area near the Wyndham & Westin Hotels in Itasca which I didn't know existed.  The Almost Home team did a great job with setup, etc.  The new mascots were in attendence and 'Bella the Blunder Dog' did not like the cat mascot (named Hope) one bit!  Rrrrrrrufff.  Looking for a cat or dog?  Adopt don't shop!   Please consider one of these great pets on their website. Overall finish list for 5K run.
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Hello, is anybody there?   (long echo ............ crickets)That's what the market has been like here in the Northwest Suburbs for the last 2 months.  It's been very lonely and I'm sure most sellers will agree with me.  No action!  What I've noticed is lots of internet 'shopping and lurking' but no real foot traffic into the homes themselves.  Inventory is UP over last year and in a few instances 2009's sales total have surpassed 2010.  So if we stop for a moment and wonder where the buyers actually are?  (crickets again)  I can't actually say.  But they are lurking.Interest rates are the absolute lowest they have been in 40 years.  Rates (in sidebar on right) are just about as low or lower as when my parents bought their first home VA back in 1956!  They were horrified and scared at th...
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By Lyn Sims, Real Estate Agent Retired
Introducing m.lynsims.net! Now your real estate search and favorite properties can go wherever you and your phone go!  (Click on 'The Who' and hear the original 'Goin' Mobile')  THE MAGNIFICIENT 7 FEATURES OF MY NEW MOBILE SEARCH ~~~  Search the full MLS anywhere anytime including access to property details. Registered members, like yourself, can see all available listings in the MLS. Access your saved searches and favorites from your mobile device. Unlike most mobile real estate searches on the market today, you can save your searches and your favorite properties. There is no learning curve. The mobile process is completely intuitive. You can search and save just like you do on your computer. My mobile search works with all types of phones that allow you to browse the internet, includi...
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By Lyn Sims, Real Estate Agent Retired
Looking for a home in the Elk Grove IL area?   Check out what's available in Elk Grove IL Homes now!  Interest rates are at a 40 year low so why not take advantage?These are the current market numbers and availability for Elk Grove IL Homes.  Lots of great home selections (149 total) with some below the $200,000 range and we've got great custom construction for price ranges above that!  The current average listing price for Elk Grove Homes is $300,960.  Some 'handyman specials, foreclosures and fixer uppers' are available for buyers trying to get instant equity in the market by doing the work themselves!  Some start at just $119,900 so you better get movin'. To search for homes currently available in the Elk Grove IL area, please go directly to the homesearch page (below) to get started...
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By Lyn Sims, Real Estate Agent Retired
This is the 'Months Supply of Inventory' for Elk Grove IL Homes (Multi-Family which is townhomes, condos, quads, duplexes) from June 2008 to June 2010.This is also called the 'Conversion Rate' or how long and how much inventory is on the market in that particular town.  Obviously, the higher the rate, the longer the market time for homes in that community.Does your agent know the 'Conversion Rate' and will they share that information with you?  It shouldn't be kept a secret because it plays a pivotal role in how your home should be marketed.Looking to sell your Elk Grove IL home and work with an area expert?  Let's work out a strategy to get your Elk Grove Village IL Home sold!
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How long is too long to get a contract signed by the seller? This has always puzzled me when the listing agent takes 4 days to get the contract signed on a recent sale.  Are agents really that busy that it's too much of a bother even on a holiday weekend to get it signed? I'm going to say 'NO' they're not.Am I the only agent out there that actually has heard of the new fangled 'fax machine' that can send things all over the country right on paper?I also must be the only agent that uses the 'Star Trek' inspired email a document to the seller anywhere on the planet too!  (PDF = pretty darn fast by email)We can't be that busy no matter what the time or circumstances to ignore a contract this blatantly.  I haven't made it an issue with the buyers and don't really think it is necessary but t...
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By Lyn Sims, Real Estate Agent Retired
Foreclosed Homes - What's a 'Trash Out'? A 'Trash Out' is often a gut wrenching clean out of a home where the owners have left their belongings behind.  Often valuables, cherished family items, important paperwork are just left where they are.  The people vanish and move quickly on to their new location.  Poof. I think personally one of the most heart wrenching is when you find family photos that should have been taken.  Why not?  It would only take a minute to throw these into a pile for future memories.  The last 'Trash Out' I attended the owners left their daughters communion dress on the floor of her bedroom.  I asked the seller twice, 'you are going to take that right?'  Can you imagine me having to ask twice? Here's a video from Lisa Ling.
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By Lyn Sims, Real Estate Agent Retired
FHA Mortgages are a staple here in the Northwest Suburbs of Chicago and yesterday Jeff Belonger did a great post on how they plan on increasing the mortgage insurance premium for future buyers.  It's still in the planning stages but I think that as a Realtors© we should be opposed to any increases for the following 2 reasons:   Homeownership rates as a whole are down and the FHA delinquencies are also down according to the Wall Street Journal.  So what's the need? Why make the qualifications so restrictive and add fees that are also restrictive making less buyers able to purchase a home in the future? What we need is less government interference! Study: Homeownership Rate Declines   "Homeownership rates are down 2 percentage points from their 2006 peak, but could fall another 5 percent...
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By Lyn Sims, Real Estate Agent Retired
There is a large amount of inventory thruout the Northwest Suburbs of Chicago which include Elk Grove IL homes.  Sellers are competing to make their home standout and enhance their marketability.  Prices have held between 4 to 6% from the listing price over the recent months.   Here is a chart of the ACTIVE Single Family Elk Grove IL Homes by price range with the market times posted as 'average days on the market.'   There currently are 149 single family homes available for sale with an average market time of 207 days.  The average list price is $311,803 and the highest listing price is $899,900.  The largest and best selection of Elk Grove homes occurs in the $200,000 to $350,000 price range. The lowest price is $175,000 and is a foreclosure which would be considered a 'value price' at...
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