Schaumburg, IL Real Estate News

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 Schaumburg, IL The data lists available homes by price range with average time on market in each range. Included in this list are many Foreclosures and Short Sales.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 $50,000 - $99,999 1 4 $100,000 - $149,999 27 127 $150,000 - $199,999 23 51 $200,000 - $249,999 14 90 $250,000 - $299,999 20 133 $300,000 - $349,999 20 127 $350,000 - $399,999 21 105 $400,000 - $449,999 7 94 $450,000 - $499,999 5 131 $500,000 - $549,999 3 136 $550,000 ...
Comments 0
By Lyn Sims, Schaumburg Real Estate Agent Retired
This always reminds me of a WWE Smackdown with the newest rumble approaching for the Spring 2017 Market.  As usual, every Spring Market brings higher prices which most buyers have reluctantly agreed to pay. Enter the buyers bank - the troublemaker in this whole process and assigns an appraiser to value the property.   There is often a gap between what a house sells for and what the bank thinks it should sell for. Problems arise when the house is sold for a certain price & the bank refuses to lend above that 'certain price' to the new borrower. Most buyers do not have the extra cash to make up the difference between the sale price and that appraisal price. Homeowner has to re-sell their property - not a good thing. This is a graph set that takes us through the history of bad appraisals ...
Comments 13
By Lyn Sims, Schaumburg Real Estate Agent Retired
Red Rock Red Rock a townhome community in Schaumburg that features one level and 2-story homes each with a private entrance.  Tucked behind the intersections of Barrington and Schaumburg Roads, it was built in 1994/1995 by Town and Country Builders. There are 4 different models available with square footage between 1098 and 1333 square feet.  Upgrades can include: skylites, fireplaces, whirlpool tubs, 6 panel doors, 9 ft volume ceilings, greatroom concept with open kitchens, family room extensions, cabinetry upgrades.  All homes come with an attached 1 car garage. Prices for 2018 ranged between $155,000 and $201,000. Here is what is currently available for sale in Red Rock. If MLS results do not show in your browser, continue on here with this link to show you the same information.
Comments 0
By Lyn Sims, Schaumburg Real Estate Agent Retired
Most people think that 'spring' is the perfect time to buy a house. Well, that might be the time when most people 'think' of the idea but is it the best time? No .... actually there is less competition in January and February and prices are usually at their lowest.  Prices here in the Schaumburg Area are usually pretty stable if not below what prices will be in the spring. There are deals out there in the snow!   You bet!  I wish I could get it through peoples heads that this is the time of year for action not hibernation. The deals are all over the place & you have to be ready for them.  Get your pre-approval completed & get yourself in the game before the 'other people' show up to buy homes too. The more people that are in the marketplace make prices go up which is usually what happen...
Comments 5
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 Schaumburg, IL The data lists available homes by price range with average time on market in each range. Included in this list are many Foreclosures and Short Sales.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 $50,000 - $99,999 4 80 $100,000 - $149,999 27 92 $150,000 - $199,999 32 72 $200,000 - $249,999 22 96 $250,000 - $299,999 23 94 $300,000 - $349,999 21 132 $350,000 - $399,999 24 148 $400,000 - $449,999 11 98 $450,000 - $499,999 5 103 $500,000 - $549,999 3 126 $550,000 ...
Comments 1
By Lyn Sims, Schaumburg Real Estate Agent Retired
Real Estate Market Update - Northwest Suburbs - December 2016 Let's jump into some real estate numbers! What are Prices Doing?  Average sales prices are relatively stagnant compared to other areas of the country. Remember when you hear the talking heads on the evening news they are talking nationally - you should only be concerned with local prices. Average Days on the Market pretty much stayed the same into December as graph illustrates. With our decreased amount of inventory for December we are bouncing between a sellers market & buyers market for certain property types or price ranges.  Inventory has decreased 27% from 2015 and months of inventory has decreased to 4 months. Very unusual for the winter months. And Interest Rates?   They are inching upwards so buyers had better get a p...
Comments 3
By Lyn Sims, Schaumburg Real Estate Agent Retired
Recently I wrote a post about the fall through rate in our Northwest Suburban area.  We don't have definitive numbers on how many deals actually fall apart in our MLS.  I'd think that would be a good idea but it's just not available to us. Many parts of the country are reporting fall through rates of 30% to 35% from their MLS's in Southern California & the Charlotte, NC areas. The National Association of Realtors has recently given us a national fall through rate which I decided to focus on for you. Obviously this is a national survey & shows the main reasons of why a contract does not close.  Many reasons are the buyers but then there are also reasons from the seller.  Sometimes it's a clear surprise to the seller that they have liens on the property or incorrectly released liens.  It ...
Comments 24
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 Schaumburg, IL The data lists available homes by price range with average time on market in each range. Included in this list are many Foreclosures and Short Sales.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 $50,000 - $99,999 3 33 $100,000 - $149,999 25 76 $150,000 - $199,999 38 119 $200,000 - $249,999 33 101 $250,000 - $299,999 25 111 $300,000 - $349,999 38 120 $350,000 - $399,999 31 134 $400,000 - $449,999 13 89 $450,000 - $499,999 4 86 $500,000 - $549,999 4 96 $550,000...
Comments 1
By Lyn Sims, Schaumburg Real Estate Agent Retired
There is a great selection of homes thruout the Chicago Northwest Suburban Market which includes the Schaumburg IL area.  Sellers are looking to sell and make their home standout above their competition.  Schaumburg home prices have held around 3% of listing price over the last few months. Here is a chart of ACTIVE Single Family Homes in Schaumburg currently available. There are currently 140 homes in various styles and types available with the Average Market Time of 150 days.  The average Schaumburg price is $415,000 and the highest price is a whopping $1,995,000. As you can see the heavy price bracket for Schaumburg is between $300,000 to $350,000 which makes Schaumburg a great affordable area.  To search for homes currently available in the Schaumburg IL area, please click here to go...
Comments 0
By Lyn Sims, Schaumburg Real Estate Agent Retired
There is a great selection of homes thruout the Chicago Northwest Suburban Market which includes the Schaumburg IL area.  Sellers are looking to sell and make their home standout above their competition. Schaumburg home prices have held around 3% of listing price over the last few months. Here is a chart of ACTIVE Multi-Family Homes in Schaumburg currently available. There are currently 112 homes in various styles and types available with the Average Market Time of 96 days.  The average Schaumburg price is $212,000 and the highest price is $439,900. As you can see the heavy price bracket for Schaumburg is between $150,000 to $200,000 which makes Schaumburg a great affordable area.   To search for homes currently available in the Schaumburg IL area, please click here to go directly to my...
Comments 2
By Lyn Sims, Schaumburg Real Estate Agent Retired
Schaumburg Home Buyers Attention! Need Down Payment Assistance? There is a down payment assistance program offered thru Cook County that may fit your needs! This is great news for home buyers that need help. If you live in or plan to purchase in Cook County and qualify for an FHA, VA, USDA, or Freddie Mac first mortgage loan, and can’t afford the down payment or closing costs, there may be a down payment assistance program that can help. Qualified buyers who meet income and credit score requirements may be able to receive a grant for up to 5% of the total loan amount based on their income.   FHA, VA and USDA loans are available for those with an income of $88,435 or less and a credit score as low as 620, while Freddie Mac loans are available for those with an income of $131,775 or less ...
Comments 2
By Lyn Sims, Schaumburg Real Estate Agent Retired
Real Estate Market Update - Northwest Suburbs - October 2016 This is the place to get those Northwest Suburban real estate questions answered! What are Prices Doing?  Average sales prices are relatively stagnant compared to other areas of the country. I think that overall we will do well for the year of 2016 but not as well as some areas of the country.  I have provided an infographic from RE/MAX that shows some of the national real estate 'action'. Average Days on the Market increased from September around 20% higher.  We are now in the last push for the end of the year closings. April has still been the busiest contract month of 2016. With our increased amount of inventory in October we are teetering between in sellers market & buyers market for certain property types or price ranges....
Comments 0
By Lyn Sims, Schaumburg Real Estate Agent Retired
The definition of 'thorough' is: complete with regard to every detail not superficial or partially performed  taking pains to do something carefully and completely Then there's 'insanely' thorough. One of my listings had it's home inspection the other day & I had to be there to turn on the water in certain locations. Upon setting foot in the driveway the inspector blurts out 'hey, there's frogs in the window wells'. I'm thinking to myself, he didn't really say that did he?  There are a how many nails & mechanical parts in a house & this guy is worried about frogs in the window wells.   He continues to say 'are you going to do anything about it'?   (Outer Limits music begins to play in my head ..... )  I'm busy turning on the water & running all over the house. Turning to 'Mr. Thorough' ...
Comments 10
By Joe Malvarapu, Keller Williams Realty Infinity
(Keller Williams Realty Infinity)
Pleasant Square, Schaumburg ILReal estate in Pleasant Square includes detached single family homes and townhouses. As of 10/27/2016, there are 9 Homes on the market in Pleasant Square subdivision in Schaumburg, with an average list price of $501,899. Highest priced property on the market with 4 bedrooms, 3 full baths, 1 half bath and 3,850 sqft of living area is listed at $875,000. Lowest priced property with 2 bedrooms, 2 full baths, 1 half bath and 1,993 sqft of living area is listed at $364,900.Active Listings: 7Under Contract Listings: 2Looking for a Property in Pleasant Square?Interested in finding Homes in Pleasant Square, Schaumburg IL? Click on the link to find all the currently available Homes in this area of Schaumburg.Recent Sales in Pleasant SquareOver the past 12 months, 17...
Comments 1
By Joe Malvarapu, Keller Williams Realty Infinity
(Keller Williams Realty Infinity)
Briar Pointe, Schaumburg ILAs of 10/23/2016, there are 12 Townhomes on the market in Briar Pointe subdivision in Schaumburg, with an average list price of $189,020. Highest priced property on the market with 3 bedrooms, 2 full baths, 1 half bath and 1,600 sqft of living area is listed at $219,900. Lowest priced property with 2 bedrooms, 2 full baths and 1,266 sqft of living area is listed at $158,900.Active Listings: 4Under Contract Listings: 8Looking for a Property in Briar Pointe?Interested in finding Townhomes For Sale in Briar Pointe Schaumburg? Click on the link to find all the currently available Townhomes/Condos in this area of Schaumburg.Recent Sales in Briar Pointe, SchaumburgOver the past 12 months, 23 Townhomes were sold in Briar Pointe, at an average sale price of $175,126. ...
Comments 0
By Lyn Sims, Schaumburg Real Estate Agent Retired
It's really not hype! This is a good time to buy a home before the rates rise in December. Let's talk about your purchasing power! Interest rates for a 30-year fixed rate mortgage are currently at 3.47%. Rates have remained at or below 3.5% each of the last 16 weeks, marking a historic low according to Freddie Mac’s latest Primary Mortgage Market Survey The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows what impact rising interest ...
Comments 16
By Lyn Sims, Schaumburg Real Estate Agent Retired
First-time buyers reported that their median expected ownership was just six years and nine years for repeat buyers, the lowest since NAR (Natl. Assoc. of Realtors) started collecting the data in 2006 for both buyer types. For repeat buyers, that bumped up to 10 years in 2007, then 12 years in 2009, and then up to 15 years in 2010 where it has remained steady for the past six years. For first-time buyers, the median expected ownership in the home jumped to 10 years in 2008 where it has remained ever since. It is no surprise that repeat buyers expect to remain in their home longer than first-time buyers. It is interesting, however, to see that first-time buyers in 2006 expected to sell in just six years. Fast forward a decade to 2015 and first-time buyers expect to sell in almost double ...
Comments 6
By Joe Malvarapu, Keller Williams Realty Infinity
(Keller Williams Realty Infinity)
Lions Gate, Schaumburg IL As of 10/14/2016, there are 6 Homes on the market in Lions Gate Schaumburg, with an average list price of $740,483. Highest priced detached single family house on the market with 5 bedrooms, 4 full baths, 1 half bath is listed at $999,000. Lowest priced townhouse with 2 bedrooms, 2 full baths is listed at $325,000.Active Listings: 5Under Contract Listings: 1Looking for a Property in Lions Gate?Interested in finding Homes For Sale in Lions Gate Schaumburg? Click on the link to find all the currently available Homes in this area of Schaumburg.Recent Sales in Lions Gate, SchaumburgOver the past 12 months, 4 Homes were sold in Lions Gate, at an average sale price of $392,875. During the twelve month period, highest priced home with 5 bedrooms, 3 full baths, 1 half ...
Comments 1
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  Schaumburg, IL The data lists available homes by price range with average time on market in each range. Included in this list are many Foreclosures and Short Sales.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 $50,000 - $99,999 6 114 $100,000 - $149,999 31 77 $150,000 - $199,999 50 52 $200,000 - $249,999 26 126 $250,000 - $299,999 30 92 $300,000 - $349,999 44 93 $350,000 - $399,999 41 90 $400,000 - $449,999 16 136 $450,000 - $499,999 5 128 $500,000 - $549,999 4 66 $550,000...
Comments 0
By Lyn Sims, Schaumburg Real Estate Agent Retired
Homes Sold in Lexington Green, Schaumburg IL There have been 11 sales as of October 2016 on the west side of Lexington Green. Do you know what model you have? ‘B’ units 2BR, 2BA from $138,000 to $173,500 ‘C’ units 2BR 1BA - none have sold ‘A’ units 3BR 2BA - none have sold ‘D’ units 2BR 2BA from $141,500 to $187,000 What's on the market now that I might be able to show you?  If listings do not show from the MLS, click here on this link that will take you to the website with the same information.  
Comments 2