I’m tired of the
media. I’m
tired of hype and spin that
turns out to be nothing at all. Let’s
glamorize a small topic so we get viewers and listeners.
Our local market conditions in Northwest Chicagoland are often times different from what's happening nationally, so it's best to work with a real estate professional to determine timing, pricing and your homes value. Illinois' economy continues to expand and home sales are expected to pick up toward the end of the year according to the National Association of Realtors recent market outlook. But again let’s keep in mind a couple of major points about real estate – all real estate is local. And the 2nd caveat is – location, location, location.
People
in California
are always
fighting fires, landslides and their homes value, either up or down. CALways with the drama! People in Texas are
in the drivers seat, like
we were a couple of years ago, they have no slowdown right now. Not so many years ago I
remember you 
couldn’t
give a home away in parts of Texas. Now
it's Yee-haw! Real estate is a
cyclical business just like
anything else. Your
stocks don’t stay
the same – they go up and down with the market.
Right now that’s what our home prices in the
suburbs are doing – a
market correction, going up or down or staying the same. Are you going to loose your shirt?
I doubt it.
Adding
more momentum to the media’s
spin we have the mortgage market "crisis" or “disaster”
in our faces
everyday! Are you
even able to afford a
home and get a mortgage? Are they even
giving mortgages to other people besides Donald Trump? The best thing to do is to
call a loan
officer and find out first hand! If
your
goal is to get a home you’re going to have to get financing
to get that
accomplished (unless you’re the Donald).
The time to
start is now!
Not normally a spokesperson for my company (a commercial interruption) but we’ve been doing pretty well in a supposedly tough market place. According to our MLS stats, RE/MAX is #1 in 256 market share areas in Chicagoland in either in listings sold, sales made or total transactions categories.
In my small area that I serve, we have had increases in local market share. Just in the Northwest Suburbs alone we are at 28.3% which is up over 2007 by 1.3%.
Hoffman Estates market share is up 3%.
Bartlett is up 1%
Streamwood is up 6%
Elk Grove Village is up 1%
Schaumburg is flat with 29% of market share or a very minimal increase.
So despite what the
‘talking
heads’ are saying, I believe
now is a good time to buy. Prices
in our area are not falling
dramatically like some might have you believe.
Again, they are leveling off or having a market correction
but your home
is still a great value. Over
the years,
home ownership has always done better than the stock market in the long
haul. The
‘talking heads’ forget to mention
that because there is
nothing to sensationalize.
“Jack Hammer on Cement Street
just had his home increase
1%” is not going to hit CNN.
So
if you have a home to
sell in the area, please give me a call.
I would like to work with you and get you on your way to
your new
location. Pointing
you in a “new
direction” is what I do.
If your goal is to buy a
home in the area, please give me a call and we will start
to see where you
qualify and what you can afford. Pick
up
that phone, put it too your ear, punch some buttons with the numbers,
hit send
and we
can start the process. Sorry
but
the media will not be alerted to the call!
The sky is not falling chicken little ...
Lyn Sims at RE/MAX Suburban (847)230-7324
Northwest
Suburban Homes in Elk Grove Village, Schaumburg, Hoffman Estates,
Bloomingdale, Roselle, Hanover Park, Streamwood, Carol
Stream, Medinah, Itasca,
Bartlett, Elgin, South Elgin, St. Charles.
Good for you Lyn!
I read (last week I think) that former fed chair Alan Greenspan commented that the housing market wouldn't recover "for quite some time".
My first thought was, "Where?"
My second was, "How can someone who held such a high profile position make such an irresponsible statement?"
Unless they are speaking of a specific market (that they are familiar with) comments (good and bad)do no one any good because they are generalizations. I'm sure if someone moved from a hard hit market to a market that is indeed growing (such as around here), their perception would be that the market is great and has turned around.
That wouldn't be "newsworthy", though, would it? ;)
That's exactly my point, one market turns out to be everyone's market, generalizations about one turns out to be for all real estate markets. I guess the media doesn't really understand how irresponsible they really are OR they just don't care. Let's do our 10 sec. sensationalizing and on to the next piece. According to them, consumers only have a 10 sec. attention span. If they weren't so ridiculous maybe we would give them longer than the 10 secs!