Someone Say House Party!

Earlier today I shared statistics on DuPage County and how inventory is low.   In DuPage County ReSale of homes are up 4.5% in February 2013 from February 2012 and New Construction is up 21.5% in February from 2012.   This is great news for our local market.  Check out What BofA is saying about the entire U.S.

According to Bank of America Corp., U. S. Home prices will probably rise 8% this year.

click to read the entire article.

Housing Information :: Bank of America raises forecast for gain in home prices.

http://www.bloomberg.com/quote/BAC:US

 

Despite the Cold Weather Buyers Still Want to Buy Your House

Northern Illinois still has considerably cold weather compared to last year when we were in the 80’s on some days.  Although the weather isn’t where we would like it buyers are still buying homes.  However, these buyers are finding less to choose from.   In February of 2012 there were 4,016 single family homes for sale in DuPage County and 2,728 attached homes for sale.  Last month, February 2013, there were only 2,822 single family homes for sale and only 1,607 attached homes for sale.  A decrease of 29.7% for single family and 41.1% for attached single family.

What does this mean for our market? Yes, we are in a sellers market.   Depending on how accurately an agent listed a home the property could sell relatively quickly.   The property may also end up in a multiple offer situation.  For every home I’ve listed in the past 6 months the home had multiple showings and went under contract almost immediately.

Home values may not be where we want them but we’ve definitely started the up turn for  the DuPage County market.  For statistics on your specific city contact me today.  Email, facebook, LinkedIn or twitter.    .  carrie.bey@bairdwarner.com

Click to see the Median Sales Price for Du Page. February 2013

About Carrie Little-Bey

Carrie Little-Bey has been real estate broker for over 11 years, helping potential residents find the home of their dreams and ensuring sellers get the price they want. Her property marketing skills and dedication to fulfilling her clients’ needs have earned her an esteemed reputation in the local real estate community.

In her current position as a broker associate at Baird & Warner, Carrie helps clients buy and sell single family homes and condominiums. As a lifelong Illinois resident, she has a wealth of knowledge about the Northern Illinois real estate market. She has a keen ability to put the best buyers and sellers together to form the most ideal transactions.

Before joining Baird & Warner, Carrie worked in the technology, non-profit and retail industries. Carrie has a background in Real estate as a former employee of a residential builder and employee of McDonald’s Corporation in the East Coast Real Estate Legal Department.
Carrie began her real estate career in 2001 where she quickly learned the residential business and systems that help with her successes.

Carrie has been a resident of DuPage County since 1996 and actively involved in volunteering for missions trips to Mexico, fundraising events and the Mother’s and More DuPage County chapter. She prides herself as someone that enjoys helping young people understand the importance of completing college. As a mother of three, Carrie can often be found with her family at the local pool, walking their dog, reading a motivational book or exercising with friends.

Are You A New Real Estate Investor?

Are you considering a investing in real estate? If yes, then here are are few things to consider?

1. When you purchase your new investment property, do you have the money or an investment loan to make the necessary changes to rent or flip?

2. Do you know and/or understand the neighborhood you are buying in?

3. Have you done your research? Is there a rental market?

4. What are your long term goals for investing? Ie; Flip, rent, how many homes per year…

5. What are the demographics?

6. Is the home in a flood plain?

7. Does the city require an inspection? If so, if the city repairs are required will you have the money for a possible escrow account.

8. Is the city considered to be stable or depressed?

If you are not sure of most of these questions, do some research before you begin shopping for the investment property.

Are You A New Real Estate Investor?

Are you considering a investing in real estate? If yes, then here are are few things to consider?

1. When you purchase your new investment property, do you have the money or an investment loan to make the necessary changes to rent or flip?

2. Do you know and/or understand the neighborhood you are buying in?

3. Have you done your research? Is there a rental market?

4. What are your long term goals of investing?

5. What are the demographics?

6. Is the home in a flood plain?

7. Does the city require an inspection? If so, if city repairs are required will you have the money for escrow if the city requires it.

8. Is the city considered to be stable or depressed?

If you are not sure of most of these questions, do some research before you begin shopping for the investment property.

Home Equity on the Rise Nationwide

Realtor Magazine states that, “Home equity is at its highest level since the third quarter of 2008 and has risen by $860 billion since the end of 2011”, according to the September Housing Scorecard.

This is good news for many home owners.  Check out the article.

http://realtormag.realtor.org/daily-news/2012/10/08/housing-scorecard-home-equity-rise?om_rid=AAEmw7&om_mid=_BQcym7B8uZtCz0&om_ntype=RMODaily

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