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Lyn Sims and the Blog Dog©

RE/MAX Suburban

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Schaumburg and Barrington Roads, Schaumburg, IL, 60194

Office

(847) 230-7324
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Hanover Park IL - Hanover Township Reassessment

Assessment Notices Mailed to Hanover Township Taxpayers

First-Ever Downward Market Adjustment Lowers Assessments of hanover park IL,hanover township assessor, Hanover Township Homes; All Hanover Township Taxpayers Being Notified of Changes in Levels of Assessment

Chicago – January 19, 2009 – Cook County Assessor Jim Houlihan announced today that residential property owners in Hanover Township were mailed notices reflecting a reduction in the assessed values of their properties. The impact of these reductions will be seen in second-installment tax bills payable in the fall of 2010.

"The situation we are facing in the real estate market is extraordinary, and the downturn has had an impact on home values," Houlihan explained. "After analysis of market sales and foreclosure data, we determined that Hanover Township homeowners should not have to wait until their properties are reassessed next in 2010 for the downturn to be reflected in their assessments."

Normally, properties are reassessed and receive notices every three years. The north suburbs are not scheduled to be reassessed again until 2010; the south and west suburbs will be reassessed next in 2011. This year, the City of Chicago will be reassessed.

Due to this first-ever downward market adjustment, residential properties in each suburban township will receive adjustments of their assessed values. A 7% decrease will be applied to the assessed values of all residential properties located in Hanover Township.

The deadline to file appeals for properties located in Hanover Township is February 22, 2010.

These market reductions come as the Assessor’s Office is implementing the 10/25 Ordinance, a measure passed by the County Board last year which was designed to simplify assessment levels. Homes will now be assessed at 10% of market value. Commercial and industrial properties will be assessed at 25% of market value. All Cook County property owners will receive notices telling them of the changes in assessment levels this year.

These changes in assessment levels will neither increase nor decrease assessments. They will simply give taxpayers the ability to review their assessments and determine if they accurately reflect the market value of their properties.

"If Hanover Township taxpayers want to appeal their proposed assessments, we encourage them to do so online," Houlihan said. "Our newly redesigned Web site is easy to navigate, contains a wealth of information, and makes it easier than ever to appeal a proposed assessment."

Hanover Township Assessor can be reached at 630-837-0301 from 8:30 am to 4:30pm. They are located on Rt. 59 just south of W. Bartlett Rd.

0 comments • Lyn Sims and the Blog Dog© • January 20 2010 12:45PM

Streamwood IL - Hanover Township Reassessment

Assessment Notices Mailed to Hanover Township Taxpayers

First-Ever Downward Market Adjustment Lowers Assessments of streamwood IL,hanover township assessor,tax appeal, Hanover Township Homes; All Hanover Township Taxpayers Being Notified of Changes in Levels of Assessment

Chicago – January 19, 2009 – Cook County Assessor Jim Houlihan announced today that residential property owners in Hanover Township were mailed notices reflecting a reduction in the assessed values of their properties. The impact of these reductions will be seen in second-installment tax bills payable in the fall of 2010.

"The situation we are facing in the real estate market is extraordinary, and the downturn has had an impact on home values," Houlihan explained. "After analysis of market sales and foreclosure data, we determined that Hanover Township homeowners should not have to wait until their properties are reassessed next in 2010 for the downturn to be reflected in their assessments."

Normally, properties are reassessed and receive notices every three years. The north suburbs are not scheduled to be reassessed again until 2010; the south and west suburbs will be reassessed next in 2011. This year, the City of Chicago will be reassessed.

Due to this first-ever downward market adjustment, residential properties in each suburban township will receive adjustments of their assessed values. A 7% decrease will be applied to the assessed values of all residential properties located in Hanover Township.

The deadline to file appeals for properties located in Hanover Township is February 22, 2010.

These market reductions come as the Assessor’s Office is implementing the 10/25 Ordinance, a measure passed by the County Board last year which was designed to simplify assessment levels. Homes will now be assessed at 10% of market value. Commercial and industrial properties will be assessed at 25% of market value. All Cook County property owners will receive notices telling them of the changes in assessment levels this year.

These changes in assessment levels will neither increase nor decrease assessments. They will simply give taxpayers the ability to review their assessments and determine if they accurately reflect the market value of their properties.

"If Hanover Township taxpayers want to appeal their proposed assessments, we encourage them to do so online," Houlihan said. "Our newly redesigned Web site is easy to navigate, contains a wealth of information, and makes it easier than ever to appeal a proposed assessment."

Hanover Township Assessor can be reached at 630-837-0301 from 8:30 am to 4:30pm. They are located on Rt. 59 just south of W. Bartlett Rd.

0 comments • Lyn Sims and the Blog Dog© • January 20 2010 12:14PM

Dog's really like Pie!

Some interesting Dog Facts that you might not know! This is why the 'Blog Dog' enjoys her pie and ice cream!

Meat-Seeking Missiles dog facts,blog dog,

Dogs actually have specific taste buds receptors that are “tuned in” to meats and meat-related chemicals. Dogs also have sweet-seeking taste buds which – partially – explains why your dog looks longingly at you while you finish off the last piece of apple pie. It’s believed that your dog’s sweet tooth comes hardwired from his wild ancestors who had to supplement their meat-based diet with berries and fruit.

Cats, on the other hand, who ate exclusively meat in the wild, generally tend to have little or no interest in sweets.

Glow-In-The-Dark Eyes

Have you ever noticed how your dog’s eyes seem to glow in flash photos or if you shine a flashlight looking for him in the yard at night? This glow is caused by a structure in the eye called the tapetum lucidum which acts to collect extra light from the environment that other parts of your dog’s eyes may have missed. The ability to collect this extra light makes your dog’s night vision much better than that of other species – such as humans – who lack this extra light-catching effect.

Make No Bones About It

Your dog’s shoulder bones are only loosely connected to the rest of his skeleton and body. In fact, if you feel around your dog’s shoulder and neck you will see he lacks the collar bone that we humans have. The “disconnected” shoulder bones help to maximize your dog’s stride length for running and jumping.

Before You Trim Those Whiskers

Whiskers, technically called vibrissae, are an important part of your dog’s sensory functions. The whiskers are extremely sensitive and receptive to touch and movement; so sensitive, in fact, that they can detect subtle changes in air currents. If you look at the base of each whisker (where it connects to your dog’s face), you will see a little dark spot which is actually a collection of nerves that helps the whisker to transmit information about movement to your dog’s brain. The whiskers are particularly helpful because dogs have difficulty focusing well on objects right in front of them – rather than relying on their eyesight, they use their whiskers as a guide to help them locate and identify objects. Because of the important role your dog’s whiskers play and because they are so sensitive, many experts agree that it best to leave them untouched when grooming your dog.

The Nose Knows

While you have only five million scent receptors in your nose, your dog, depending on the breed or mix, has around 220 million scent receptors. Also, inside your dog’s nose is a shelf-like area that allows your dog to collect and accumulate odor molecules. The shape of the shelf traps odor molecules, and when your dog breathes his breath passes under the shelf without disturbing the shelf’s scent “contents.” The scent molecules are then processed by two olfactory bulbs in your dog’s brain. Whereas a human brain’s olfactory bulbs weigh only about .5 ounces, your dog’s olfactory bulbs weigh 2 ounces. Combine this with the fact that the human brain is about ten times larger in total than a dog’s, and we can say that your dog devotes nearly 40 times more of its brain to scent than humans do.

Resource and credits: 2010 AKC Newsletter Jan. 2010

15 comments • Lyn Sims and the Blog Dog© • January 18 2010 04:38PM

Elgin IL - How long will it take for my house to sell?

This is the 'Months Supply of Inventory' for Elgin IL Single Family Homes for 2009

elgin IL,elgin home sale, This number is also called the 'Conversion Rate' or the 'Absorption Rate' which is how long and how much inventory is on the market in that particular town. Obviously, the higher the rate, the longer the market time for homes in that community.

Does your agent know the 'Absorption Rate' and will they share that information with you? It shouldn't be kept a secret because it plays a pivotal role in how your home should be marketed.

So we obviously have different levels of 'Absorption' in the market and I've tried a humorous visual demonstration for you.

Q tip Rate - nothing much getting sold.

Toilet Paper Rate - I think a few Buyers are out there but they are just sitting there and spinning their roll.

Empty Toilet Paper Rate - Just OK, nothing terrific, steady as she goes, things are looking up!

Generic Paper Towel Rate - Buyers are remembering about the tax credit deadline, still cautious and mulling over values.

Bounty Towel Rate - This is where Sellers might see a micron of appreciation. The market is faster than this 'picker upper'.

Fluffy Towel Rate - Pretty darn good, feels good too!

Sham Wow Rate - This is the good old days of Real Estate! Homes don't sit on the market at all! Sellers are happy and Buyers are mad during this level. All is right with the world!

elgin IL,elgin home sale,

Well, let's come back and discuss the current market for Elgin IL homes! The good news is that the inventory is down by 14% over a year ago of December 2008. Either people are not moving and changed their plans, have given up or possibly rented their homes. It could be a variety of circumstances.

Homes under Contract up 119% over December 2008 and another good sign is Closings are up 54% over December 2009. Yipee!

December 2009's sales rate was 79 under contract vs. November's 77. Homes under contract are highest in July 2009 with 91! December and January are anticipated slow months and sometimes even slower depending upon how much snow we get!

If you are thinking of purchasing or selling in Elgin, please consider me your neighborhood expert. I would welcome the opportunity to meet with you and discuss your options in today's marketplace.

Elgin Homes Available & Market Times - October 2009
Elgin House Tour Recap
Market Update by Price Range - June 2009

Asbestos in Homes

Tips for First Time Buyers
Average Closing Costs in Illinois
How to improve your credit BEFORE you purchase a home
REO's and Foreclosures - Think they might be for you?
203K Loan - Know what it is?
Illinois Home Sales - I'm seeing an improvement.

Please contact me Lyn, I need more information!

lyn sims,blog dog,

Lyn Sims and the Blog Dog©
          (847)230-7324
               RE/MAX Suburban
Email: LynSims@msn.com




Get the Blog Dog© Pawspective on Elgin!

This darn dog and I proudly sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Elk Grove Village, Hoffman Estates, Schaumburg, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Elgin IL Months Supply of Inventory ©2010 TheBlogDog.net and Lyn Sims

3 comments • Lyn Sims and the Blog Dog© • January 18 2010 01:43PM

Hanover Highlands - Hanover Park IL

Looking to get your home sold in this area? I just sold this great split level 3BR's 2.5BA's with a family room addition off the back of the house! It was previously listed with another realtor for 223 days. I relisted the property and we went under contract in just 14 days!

This is a tough market for sellers and you deserve to give your home the opportunity it deserves by an area expert! Call me today so we can discuss getting you on to you new location!

hanover park IL,hanover park homes,hanover highlands,

2 comments • Lyn Sims and the Blog Dog© • January 15 2010 02:33PM

Buyers Advice - This Will Make You a Rate Shopping Genius!

Buyers Advice - good information is hard to find and this gentlemen, Bill Ladewig, gives great advice when you begin to 'shop rates'. Not all loan officers will treat you fairly so you must be up on the game and this advice tells you how!

So you will be a Rate Shopping Genius and decide who is giving you the best rate and program that fits your needs.

Don't forget that you must get pre-approved BEFORE you begin looking for a home and have your pre-approval in hand when you make an offer on a property!

When you want to begin looking for your new home, please give me a call so we can discuss the possibilities!

Via Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970:

This will Make You a Rate Shopping Genius.

Mortgage Rate Shopping is not Rocket Science but you should know all the tricks.

Two Rules for Genius Mortgage Rate Shopping

Rule #1 Get it in writing.

Rule #2 Mortgage Rates, Points and Lender Fees are interdependent parts to each rate quote.  When one part is Lowered another part must increase. A Rate Quote is worthless without all three quoted.

Valuable Mortgage Rate Shopping Tips.

Know your credit score before you begin shopping.  Loan availability and the cost of your loan depend on your credit score. Most conventional lenders require a minimum 720 mid score, above 80% loan to value, from the three credit repositories (Experian, Equifax and Trans Union) and most FHA and VA lenders require a minimum 620 to 640 mid credit score. Do not allow any lender to run your credit until you select them as your lender. Credit reports run by several lenders will lower you credit score. If you do not already know your credit score, there are several Internet companies that will provide free credit scores. Google search for: "Free Credit Score"

Shop all lenders on the same day and time period.  Mortgage Rates change every day, sometimes several times a day.

Insist that each lender price the exact same Rate. You pick a rate to shop. You are looking for lender for the lowest total cost for that rate.   Once you establish the lowest priced lender you can zero in on a rate-point-fee combination that works best for your situation.

All lenders offer a range of rates and points for each of their loan types. Rate and points are interrelated, lower mortgage rates cost more points... higher rates cost less points. Create a "Rate Baseline" by asking each lender for the mortgage rate and then compare their points and fees for each rate.

Shop for a specific loan type, because each type is priced differently. i.e: FHA, VA and Conventional loans, conforming and jumbo have different mortgage rates. Insist that each lender quote rates for the same loan type. Some lenders may present you with other options but insist they also provide a quote for the loan you are shopping for to establish a pricing base line.

Shop each lender for the same mortgage rate lock time period. You must ask every lender to tell you the lock period for the rate they are quoting. Mortgage Rates increase incrementally for each longer lock periods. I suggest shopping rates for a 30-day lock period. Lock periods can vary but most lenders provide locks for 15, 30 and 45 days.   Some lenders quote their 15 day, least expensive price, which is not available until after the loan is approved.   If you find a lender initially quoting a 15-day rate, it would prudent to eliminate that lender from your short list.

Insist the lender provide a detailed Good Faith Estimate before you complete an application. You have a right to know to know the price of the loan before you apply. A few lenders, even some large well-known lenders, falsely claim rates cannot be quoted until they have all your personal information. This is an absolutely bogus sales technique, these lenders know that borrowers do not want their personal information spread all over town and their credit score lowered by several credit reports AND they know once a borrower provides their personal information they are likely to stop shopping. Do not apply to any lender before you receive a Good Faith Estimate.

Will the lender allow you to lock your mortgage rate today? You should be able to lock your rate on the day you submit your signed application as long as the signed application is received by the lender prior to 3:00 PM PT. Most lenders stop locking loans at 4:00 PM PT although this time is not universal so check with each lender for their lock cutoff.


Education is Consumer's Only Real Protection.
Listed below are some educational articles.

What You Should Know About APR

How To Shop for Mortgage Rates.

Beware of Misleading Lender Advertising

Education is the best consumer protection

Rates and Point Relationship Explained

Bill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137

San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

0 comments • Lyn Sims and the Blog Dog© • January 14 2010 12:28PM

Bloomingdale Homes - How long will it take for my home to sell?

Bloomingdale Illinois Median Home Prices

The graph displayed below is the median home prices in Bloomingdale from December 2007 to December bloomingdale homes,the blog dog,bloomingdale agent, 2009. The median price is the point at which half of all homes are sold for more and half are sold for less.

It gives you an idea of what prices properties are selling for in that community. When the median price is on the lower end, more reasonably priced homes are selling vs. the higher end homes. In the current market since January 2009, you can see that the median priced home was $244,500 and then rebounded for August 2009 with a price of $398,000.

This is also following the trend that I have personally seen with first time home buyers moving along the market. Foreclosures are traditionally priced below market and are also adjusting the prices downward. There have been only 9 sales in the upper bracket homes (above $400,000) for quite some time and indicates really no move-up sellers over the last year. Possibly with the spring market ahead and the move-up tax credit we will see some of that inventory being sold.

The market slowdown actually began to occur for Bloomingdale and the overall Northwest Suburbs in October 2007 which is a surprise for some people. The market did not just stop overnight! Currently we've had prices in April 2009 from $265,000 and then ending at $305,000 for December's numbers. Just like the stock market, it's subject to the markets normal ups and downs.

bloomingdale homes,the blog dog,bloomingdale agent,

Bloomingdale has seen very stable next to it's existing neighbors. Prices really have not fluctuated dramatically but that happens when a large sale priced home skews the numbers. Can you say follow the bouncing ball? The median prices were down from December 2008 which shows a further example of all the lower end properties getting purchased right now from 1st time buyers or investors. Deals are out there! Weird? Odd? You bet, but I just report the facts here.

Number of homes on the market is down 19% from December 2008. BUT .... there is currently 43.5 months supply of inventory for December 2009 (called the Absorption Rate) which is up dramatically from November's 11.5. New sellers are gearing up for the spring market? We shall see.

Homes under contract is only 2 sales for December 2009 vs. 8 in November. There were more homes under contract (5) in December 2008 vs. only (2) in December 2009. Most other communities have seen a reversal in those numbers with the increased sales being in 2009.

For the last 6 months of 2009 the highest sales price has been $539,000 and the lowest sales price was $180,000 - ouch! That is painful! Someone sure got a sweet deal with that 2BR house. Who said all the deals were gone?

If you are thinking of purchasing or selling in Bloomingdale, please consider me your neighborhood expert. I would welcome the opportunity to meet with you and discuss your options in today's marketplace.

Bloomingdale Market Update - October 2009
Bloomingdale Market Update by Price - June 2009

Tips for First Time Buyers
Average Closing Costs in Illinois
How to improve your credit BEFORE you purchase a home
REO's and Foreclosures - Think they might be for you?
203K Loan - Know what it is?
Illinois Home Sales - I'm seeing an improvement.

Please contact me Lyn, I need more information!

lyn sims,blog dog,

Lyn Sims and the Blog Dog©
          (847)230-7324
               RE/MAX Suburban
Email: LynSims@msn.com




Get the Blog Dog© Pawspective on Bloomingdale!

This darn dog and I proudly sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Elk Grove Village, Hoffman Estates, Schaumburg, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Bloomingdale IL Median Home Prices ©2010 TheBlogDog.net and Lyn Sims

2 comments • Lyn Sims and the Blog Dog© • January 14 2010 11:01AM

Buyers Agent - Oh No the Credit Nazi: "Bad Credit! NO LOAN FOR YOU!"

Is it time to start looking for a home? One important step you should do BEFORE you begin the process is to contact a good loan officer in your area that can help. This post from Ted Canto puts it into perspective and gives you a little chuckle.

The process can be a little intimidating if the loan officer doesn't make you feel comfortable and IS ON YOUR SIDE. You want somone that can explain the whole process to you or help you begin credit clean up if that is necessary! Loan officers know the credit process better than you do so listen to their advice!

Enjoy this post and let me know if you would like to begin your home buying process!

Via TED CANTO - www.tendayclose.com (Academy Mortgage):

The Credit Nazi: "Bad Credit! NO LOAN FOR YOU!"

Remember the character on the Seinfeld Show "The Soup Nazi". If you didn't walk the line, you were not going to get any of his "out of this world" soup. I sometimes think that people see the Mortgage Professional the same way. Don't say a word, walk nicely in a line, be very, very polite and we will get our home loan.

Denying a client can be heart crushing for a Mortgage Professional. It also can be a humiliating situation for a client whose credit is not quite at par. BELIEVE ME!! We get it! You have been looking at that pretty home that you've been eyeing for a while and now your heart has been crushed by that guy, that Mortgage Professional. that, that, that CREDIT NAZI! HE STINKS!!

All hope is certainly not lost and that CREDIT NAZI is not the guy you think he is. What many innocent homebuyers do not understand is that there is hope and with some work and ingenuity on behalf of your Mortgage Professional, you can achieve part of the American Dream.

1st: Disclose everything with your Mortgage Consultant/ Loan Officer/ Mortgage Planner/ Take your pick! The more he knows, the more he can help you.

2nd: Have him analyze why your credit is in the state that is in. Unknowing to you, there may be some minor corrections that can turn into huge points for you on your credit score or simply allow the lender to make an exception based on the documentation presented.

3rd: Ask your Mortage Professional if he has the ability to "What If" your credit report. This may incur a small fee ($10-20). This service will allow the Loan Officer to play with different scenarios on your credit report (ie: Pay this amount down, pay this off, increase your balance, etc.) thus finding out how many points you can raise your score based on the recommendation of your Loan Officer.

4th: Explain to him your entire situation. What you may find is that he can possibly submit the appropriate documentation to the credit company and raise your FICO scores within a couple of days. This is tremendously useful since doing it on your own can take 45-75 days. It is known as a Rapid Re-Score.

5th: VERY IMPORTANT!! Your Mortgage Professional is your friend. He is not the boogey man. He is not interested in turning you away. Realistically, he earns his keep by helping families achieve their dream. Trust him and he will work diligently for you. He is not anything like the Soup Nazi on the Seinfeld Show. He really does want to give you soup (A Home Loan).

Hanover Park IL - What's the real estate market like?

Hanover Park Illinois Median Home Prices

The graph displayed below is the median home prices in Hanover Park from December 2007 to December hanover park IL,hanover park homes,lyn sims, 2009. The median price is the point at which half of all homes are sold for more and half are sold for less.

It gives you an idea of what prices properties are selling for in that community. When the median price is on the lower end, more reasonably priced homes are selling vs. the higher end homes. In the current market since January 2009, you can see that the median priced home was $152,500 and then rebounded for October 2009 with a price of $193,500.

This is also following the trend that I have personally seen with first time home buyers moving along the market. Foreclosures are traditionally priced below market and are also adjusting the prices downward. There have been zero sales (0) in the upper bracket homes (above $300,000) for quite some time and indicates really no move-up sellers over the last year.

The market slowdown actually began to occur for Hanover Park and the overall Northwest Suburbs in October 2007 which is a surprise for some people. The market did not just stop overnight! Currently we've had a rebound of prices in March 2009 from $183,000 and then ending at $166,000 for December's numbers. Just like the stock market, it's subject to the markets normal ups and downs.

hanover park IL,hanover park homes,lyn sims,

Hanover Park has seen some real ups and downs next to it's existing neighbors. Prices really have fluctuated dramatically vs. surrounding communities. Can you say follow the bouncing ball? The median prices were down from December 2008 which shows a further example of all the lower end properties getting purchased right now from 1st time buyers or investors. Deals are out there! Weird? Odd? You bet, but I just report the facts here.

Number of homes on the market is down 31% from December 2008. There is currently 8.1 months supply of inventory for December 2009 (called the Absorption Rate) which is up from November's 6.7. New sellers are gearing up for the spring market? We shall see.

Homes under contract is 14 sales for December 2009 vs. 18 in November 2009. The current homes under contract ended up being the same as (14) December 2008.

For the last 6 months of 2009 the highest sales price has been $287,000 and the lowest sales price was $52,000 - ouch! That is painful! Someone sure got a sweet deal with that 2BR house. Who said all the deals were gone?

If you are thinking of purchasing or selling in Hanover Park, please consider me your neighborhood expert. I would welcome the opportunity to meet with you and discuss your options in today's marketplace.

Hanover Park Market Update by Price - October 2009
Market Update by Price - June 2009
Hanover Park Village Profile

Tips for First Time Buyers
Average Closing Costs in Illinois
How to improve your credit BEFORE you purchase a home
REO's and Foreclosures - Think they might be for you?
203K Loan - Know what it is?
Illinois Home Sales - I'm seeing an improvement.

Please contact me Lyn, I need more information!

lyn sims,blog dog,

Lyn Sims and the Blog Dog©
                (847)230-7324
               RE/MAX Suburban
Email: LynSims@msn.com




Get the Blog Dog© Pawspective on Hanover Park!

This darn dog and I proudly sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Elk Grove Village, Hoffman Estates, Schaumburg, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Streamwood IL - What's the housing market like?

Streamwood Illinois Median Home Prices

The graph displayed below is the median home prices in Streamwood from December 2007 to December 2009. The median price is the point at which half of all homes are sold for more and half are sold for less.

It gives you an idea of what prices properties are selling for in that community. When the median price is on the lower end, more reasonably priced homes are selling vs. the higher end homes. In the current market since May 2009, you can see that the median priced home was $165,250 and then rebounded for October 2009 with a price of $185,000.

This is also following the trend that I have personally seen with first time home buyers moving along the market. Foreclosures are traditionally priced below market and are also adjusting the prices downward. There have been very few sales (6) in the upper bracket homes (above $400,000) for quite some time and indicates really no move-up sellers over the last year.

The market slowdown actually began to occur for Streamwood and the overall Northwest Suburbs in October 2007 which is a surprise for some people. The market did not just stop overnight! Currently we've had a rebound of prices in January 2009 from $156,075 and then ending at $151,000 for December's numbers. Just like the stock market, it's subject to the markets normal ups and downs.

streamwood IL homes,streamwood illinois,

Streamwood has seen some real ups and downs next to it's existing neighbors. Prices really have fluctuated wildly vs. surrounding communities. Can you say follow the bouncing ball? The median prices were down from December 2008 which shows a further example of all the lower end properties getting purchased right now from 1st time buyers or investors. Deals are out there! Weird? Odd? You bet, but I just report the facts here.

Number of homes on the market is down 27% from December 2008. There is currently 5.5 months supply of inventory for December 2009 (called the Absorption Rate) which is down from November's 10.5. Where did those sellers go? Did they take their homes off the market and are waiting until spring?

Homes under contract increased to 30 sales for December 2009 vs. 19 in November 2009. The current homes under contract ended up 88% higher than December 2008.

For the last 6 months of 2009 the highest sales price has been $557,000 and the lowest sales price was $58,000 - ouch! That is painful! Someone sure got a sweet deal with that 3BR house. Who said all the deals were gone?

If you are thinking of purchasing or selling in Streamwood, please consider me your neighborhood expert. I would welcome the opportunity to meet with you and discuss your options in today's marketplace.

Streamwood Market Update by Price - October 2009
Down Payment Assistance for Cook County in Bartlett
Streamwood Months Supply of Inventory - June 2009
Market Overview for 2008
Streamwood Village Profile

Average Closing Costs in Illinois
How to improve your credit BEFORE you purchase a home
REO's and Foreclosures - Think they might be for you?
203K Loan - Know what it is?
Illinois Home Sales - I'm seeing an improvement.

Please contact me Lyn, I need more information!

lyn sims,blog dog,

Lyn Sims and the Blog Dog©
             (847)230-7324
               RE/MAX Suburban
Email: LynSims@msn.com




Get the Blog Dog© Pawspective on Streamwood!

This darn dog and I proudly sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Elk Grove Village, Hoffman Estates, Schaumburg, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

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Blog Archives

Hanover Park IL - Hanover Township Reassessment

Assessment Notices Mailed to Hanover Township Taxpayers

Streamwood IL - Hanover Township Reassessment

Assessment Notices Mailed to Hanover Township Taxpayers

Dog's really like Pie!

Elgin IL - How long will it take for my house to sell?

This is the 'Months Supply of Inventory' for Elgin IL Single Family Homes for 2009

Hanover Highlands - Hanover Park IL

Hanover Highlands - Hanover Park IL

Buyers Advice - This Will Make You a Rate Shopping Genius!

Bloomingdale Homes - How long will it take for my home to sell?

Bloomingdale Illinois Median Home Prices

Bloomingdale IL Median Home Prices ©2010 TheBlogDog.net and Lyn Sims

Buyers Agent - Oh No the Credit Nazi: "Bad Credit! NO LOAN FOR YOU!"

Hanover Park IL - What's the real estate market like?

Hanover Park Illinois Median Home Prices

Hanover Park IL Median Home Prices ©2010 TheBlogDog.net and Lyn Sims

Streamwood IL - What's the housing market like?

Streamwood Illinois Median Home Prices

Streamwood IL Median Home Prices ©2010 TheBlogDog.net and Lyn Sims