Schaumburg Homes Market Snapshot - June 2010
The graph illustrates sales for single family Schaumburg Homes from January to June 2010. With all the
media hype about the tax credit, I would have expected better numbers. What I see here is the standard increases that we see every year at this time. But, one caveat is that I believe the tax credit was much more valuable to multi-family buyers. In that segment I saw a surge for the deadline (June 30th) but again this could also because of the time of year.
Schaumburg foreclosures and 'better priced values' have been scooped up the fastest. Short sales? Well, they fell terribly 'short' for our area. From working with my own buyers, short sales offer too many hassles and not enough price rewards for dealing with the banks as a seller. Dealing with a bank = headaches & massive quantities of Tylenol.
Pricing your home correctly is more important than ever with the decreased activity and only a certain amount of buyers. Over the last 6 months the 'listing price to sales price' average has been 94% or 6% off list price.
What tells me that sellers still haven't priced their Schaumburg Homes correctly in the beginning is the next set of numbers which is 'old sales price to sales price' which came in at 91%. This means that the listing prices had to come down 3% more in order to sell in today's market. (94 - 91 = 3%)
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I've got a house like that now. I't has to come down! Owner won't budge, and buyers wont call. I'll be having to see him soon with the facts!
Old list price is the original sales price before any reductions, right? I like your graph, where did you make that? I also appreciate that you took the time to copyright it with your name and contact info.
Rich: Yep, the original list price.