Schaumburg, IL Real Estate News

By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 Now admittedly online reviews are a bit of a stacked deck and always should just be a starting point in your real estate hiring decision. What business person is going to reach out to the absolute worst client they've had in the last 5 years and ask for a review on Yelp or Zillow or whatever site they prefer?  And I recognize that no matter how good a person or company is, there's going to be that ONE person that's going to be an issue.  I am not a firm believer in 'the customer is ALWAYS right'.   Sometimes the client wants you to do things you can't legally or ethically do, and might just be ticked that you won't do as they say. Let's say we have a difference in our business ethics. There could be a good reason for a bad review as one person 'in the relationship' is extremely unhappy...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 Here's the things you will need to know if you are planning on selling. So how is the market doing currently in Schaumburg? Here's a few graphs to help give you an idea. What is the percentage of homes that are going under contract each month in Schaumburg? This tells you if the market is flat, going up or declining based on homes going under contract. It shows you the 'action' that buyers are taking in the market.  How many homes are for sale in Schaumburg? This is called the months of inventory level. The lower the level of homes on the market the better the market is for a seller. Currently we have been in a sellers market for quite some time. Inventory fluctuates per month and is usually the highest in the spring months. Surprisingly for Schaumburg, the highest listing month was in...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
How much will it cost you to purchase a home in 1, 2 or 3 years?You can bet that it will cost you more but in what ways? We're not just saying it, we can prove it based on previous trends.These charts compare all the costs & payments if you were to take out your loan today, versus 1, 2 and 3 years from now. For all the number crunchers out there, here's a few numbers to mull over. Please call either Guy Stanek or myself if you have any further questions. Guy can help you with todays rates or with any questions on this post. I'll handle the house search portion of course! Cost of Waiting Analysis on... by Lyn Sims on Scribd
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Does a 'quick cash closing' really work for sellers?There's a few different things to call these companies that come in & buy your home for cash & you happily run away with all the money. Most firms call themselves I-Buyers & they were recently invented to save buyers from the 'horrors' of a real estate transaction with a regular type real estate agent.SAVE!!!   SAVE!!!   SAVE!!!     1)  All that time & aggravation waiting for agents & buyers     2)  Repairs that might need to be done & you'd rather be at the beach with a mai-tai     3)  Really quick cash, usually within 48 hoursOne point that these companies forget to tell you when you read 'how easy' it is going to be is that's it's going to cost you BIG TIME. Each home obviously will be different but it's really going to be expensive...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
One of the values that an agent brings to the table is their local knowledge of the real estate market. Is it up? Is it down? Suddenly a particular financing can no longer be used on your home which makes it available to less buyers. There are many, many things to compile to become knowledgeable.I pass all that information along to my sellers so they sell for more money & in a decent time frame. That's what I do & what I work for with every client I represent.One of the things that I noticed on doing the 2019 year end review was the vast amount of lender fees, points or 'mortgage help' the buyers are asking for in their home purchases. Following the sold & closed property everyday in nearby markets, I keep seeing $4000 and $5000 on many listings. What this is also called is 'seller conc...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 Here's the things you will need to know if you are planning on selling in 2020. So how is the real estate market doing currently in Schaumburg? Here's a few graphs to help give you an idea. What is the percentage of homes that are going under contract each month in Schaumburg? This tells you if the market is flat, going up or declining based on homes going under contract. It shows you the 'action' that buyers are taking in the market.  How many other homes are for sale in Schaumburg? This is told in the months of inventory level. The lower the level of homes on the market the better the market is for a seller. Currently we have been in a sellers market for quite some time. Inventory fluctuates per month and is usually the highest in the spring months. Surprisingly for Schaumburg, the h...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Interest rates will be lower than they have been prior to 1980 at 3.8% and are projected to remain steady throughout 2020! According to CoreLogic, home prices will appreciate at a rate of 5.4% over the course of the year. Experts predict that the number of homes sold next year will be equal to or outpace 2019. 
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Real estate is sure hard to predict so I simply won't do it! I'll tell you what I do know & what I've found out so you can make a decision for your family & needs. Different parts of the country experience the real estate market differently. Core Logic does predictions for the year on what larger metro areas are going to see increases in 2020. In our Midwest area of Chicago, it is going to be 'very light' as far as price increases. The graph will give you an idea of who is 'hot' and who is 'not'. As of October 2019, 31% of buyers are first time buyers. That's a pretty decent chunk of business to follow & attract. Sellers should pay attention as 1 out of 3 buyers might not know how to work a hammer. These buyers want homes in move-in condition. If yours is not, the buyers will move along...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 Here's the things you will need to know if you are planning on selling in Schaumburg!  How is the market doing? Here's a few stats to give you an idea. What is the percentage of homes that are going under contract each month in Schaumburg?  17% of total homes listed in November.  This percentage tells you if the market is flat, on the up or decline based on homes going under contract. It shows you the 'action' that buyers are taking in the market. Buyers are not in a rush with this percentage - market is cool.  What is the inventory level in Schaumburg? The lower the level of homes on the market the better the market is for a seller. Currently we have been in a sellers market and the lower the level of homes the better the market is for a seller.  It is 3.8 months of inventory for Nove...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 Here's the things that you will need to know if you are planning on selling in Schaumburg. Here's a few stats to help give you an idea. What is the percentage of homes that are going under contract each month in Schaumburg?  14% of total homes listed in October.  This tells you if the market is flat, on the up or decline based on homes going under contract. It shows you the 'action' that buyers are taking in the market. Buyers are not in a rush with this percentage - market is cool that's for sure. How is Schaumburg's inventory level? The lower the level of homes on the market the better the market is for a seller. Currently we have been in a sellers market and the lower the level of homes the better the market is for a seller.  It is 4.7 to 5 months of inventory for October which is t...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
There are alternatives to FHA Loans!I work with many terrific loan officers that offer my clients many helpful programs to get you into that new home. This is one of those great programs offering a conventional loan with 3% down.Saving enough funds for a down payment & closing costs is one of the major barriers to home ownership for most first-time buyers.  Fannie Mae has expanded home ownership opportunties for buyers looking to reduce the amount of cash required to get into that home.  Borrowers income, assets, credit scores must meet the program guidelines of course.What is terrific about this program is that many townhouse or condo subdivisions in our Schaumburg area are no longer FHA appproved. This does funnel down the buyer prospects for that subdivision in a negative way.  Now ...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Real Estate Market Update in Schaumburg - September 2019 What are Prices Doing?  Average sales price ($341,500) a decrease of 6% from September 2018.  Remember that every Schaumburg subdivision is responding & recovering differently. That means "if and when" a home in the area goes on the market. Sellers are now pretty happy with prices or have decided that now is a good time to move. How about you? Are you thinking of moving? With our overall amount of inventory we are still in a sellers market. Inventory has actually increased from 2018 at 9%. Homes actually closing in Schaumburg was the same in September as last year. Homes going under contract have increased over 2018 slightly. Market time for homes going under contract is 58 days. This is definitely confusing isn't it?  Low invento...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
So is the Schaumburg Market up or down?More prospective home buyers across the country came out in August compared to the same time last year as U.S. showing traffic grew for the first time in 13 months, according to the latest ShowingTime Showing Index report. This tells us the buyer 'foot traffic' across the country. The Midwest region where we are located showed the most modest increase across the country. In Schaumburg, the months with the most inventory were July & August 2019. This was also true for July 2018. Our overall inventory level with wither down for the coming holiday months. Still, lots of great choices for buyers in all price ranges. 
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 There have been total of 227 closed single family homes in Schaumburg up until June 2019. The most popular price range is between $250,000 to $300,000 which is very affordable for our area.Let's view some Schaumburg homes in the $250,000 to $300,000 range right now.  If you are thinking of selling your Schaumburg home soon you'd like to get an idea of how long it would take right?  This graph shows you the differences in market times for different price ranges.   Let's zero in to your specific area and give you the current market details so you can make an informed decision and help your home sell faster.  And .... I'll give you proven staging suggestions on how to do just that.My experience also plays an important role. I'm one of those unique people that will tell you how the market ...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Let's have a talk about taxes in Schaumburg & Cook County.Here in the Schaumburg Area we are in a tax reassessment year. Just recently the 2nd installment of taxes have come out & half the state of Illinois is ready to move out & move along to a more tax friendly state.45,000 people in Illinois moved in 2018 because they can't put up with the taxes or the high cost of living.There are SO MANY people, articles, new quotes, blogs, short videos with people giving their take on what is going on. I'm not saying that I know more than they do but by just reading their terminology & examples - they don't know what the hell they are talking about. They do not understand the process. I'm not saying that I am the tax accessor but what I do know is values over the years & am ROCK SOLID with my info...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
 How are those prices doing?Remember that every subdivision and town is responding differently if and 'when' a home in the area goes on the market. What about you? Thinking that now is the time to move? Prices increased slightly overall. Find out exactly where your home stands by calling me for an evaluation. Sellers or Buyers Market?With our overall amount of inventory we are still in a sellers market. Inventory has actually decreased from 2018 (11%). Get your home on the market! If your home is currently on the market for 30 days or more, buyers have given you feedback on your condition, price, or your location. With inventory this low there is no reason not to get an offer but buyers are not going to pay your price if you've got too much work or deferred maintenance.  They will gravi...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Towne Place was built by Lexington Builders located northeast of the intersection of Schaumburg and Barrington Roads behind the Kohls Shopping Center.  A great mix of open areas, landscaping and recreation are available here.  There are two pools and a clubhouse in the neighborhood and a walking/jogging path is also provided surrounding a nature preserve and pond. The Schaumburg Park District also operates Veterans Park which offers soccer, baseball and football fields. The Metra Train is available at either the Schaumburg Station or the Hanover Park Station depending on your schedule.  Walk to Kohl's, At Home, Jewel Food Store, Home Depot, PetSmart, Harris Bank, and Target Greatland. Tons of other great Schaumburg shopping too, that is just a small sample close by. There are two styles...
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Laurel Oaks is a townhouse community built around 1994 by N.I.R.A. Builders. Laurel Oaks features 138 town homes with floor plans ranging from 1,900 to 2,300 square feet of living space. The homes are basically duplex styled where you own the land. Private entryway, 2 car garage & some basements are available. Lots of options, with up to 3BA's available. Laurel Oaks is located on Route 59, 1/4 mile south of Irving Park Road (19) in Streamwood.  Prices ranged in 2018 from $237,500 to $277,500 with 8 total sales.I'm sure there is something for us to look at in Laurel Oaks. Please contact me if you see anything that interests you below. Let's start looking for your new home right away! 
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By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Wellington Court is a townhouse community built in 1989 by Town and Country Homes in Schaumburg. Wellington Court features all 2-story townhomes with 2 bedrooms, 2.5 baths, lofts and 1 car attached garages. Wellington Court is located east of Rodenburg off Wise Road. Sought after community with it's 2.5 baths & easy access to 390 extension.There are 3 models for sale in Wellington Court - Camden, Darby & Exeter ranging from 1065 to 1525 sq. feet. I'm sure there is something for us to look at in Wellington Court. Please contact me if you see anything that interests you below.  
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