Foreclosures and short sales are a regular portion of the market these days and create market distortions in otherwise stable neighborhoods. And those distressed properties are selling for 20% or more below values of other homes. But with this 'distrortion' is another problem with appraisers not adding value for these otherwise below market sales. Before the new appraisal changes (May 2009) an appraiser might mark up a distressed property to bring it into current line with what market value would currently be. Not any more, those days are gone! Those distressed properties are now setting the market causing extreme pricing fluctuations and appraisal problems in our area.
This is a market overview for the Northwest Suburbs of Chicago which I serve. I've given a breakdown for single-family homes sales and for multi-family sales (townhomes, condos, etc) so you can get an idea of which areas are having increased sales and bouncing back faster than others. These numbers are for the 2nd quarter 2009.
Elk Grove SF 47% 
Elk Grove MF 75%
Bartlett SF 60%
Bartlett MF 15%
Schaumburg SF 97%
Schaumburg MF 110%
Hoffman Estates SF 50%
Hoffman Estates MF 102%
Roselle SF 100%
Roselle MF 130%
Streamwood SF 25%
Streamwood MF 55%
Hanover Park SF 100%
Hanover Park MF 68%
Bloomingdale SF 100%
Bloomingdale TH 75%
Links will take you directly to each detailed report for that particular town. If you are thinking of purchasing or selling your home, please consider me your neighborhood expert. I would welcome the opportunity to meet with you and discuss your options in today's marketplace.
Do you know about the First time Homebuyers Tax Credit?
Lyn Sims (847)230-7324 at RE/MAX Suburban
The 'Blog Dog' gives her market 'pawspective'.
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.
Bartlett Illinois Home Sales, Streamwood IL Real Estate Market Overview - July 2009 ©2009 TheBlogDog.net and Lyn Sims
© 2010 Lyn Sims and The Blog Dog
