The Blog Dog .net

What you should know about Pricing your Streamwood IL Home

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Thu, 29 Jul 2010 12:03:38 -0400

Listing your home soon? Here's a couple of things you should know about 'Price'.

There’s actually a few factors that are embroiled together – Price, condition, location. Together all three will actually make your home either sell or be rejected by prospective buyers.

Obviously in this market and the elevated inventory for Streamwood Homes you have to be ‘dead on’ with your homes price. Too high and no one will take your home seriously and it will be passed over. Too low? Well that really doesn’t happen too often except in distress sales, foreclosures and the like. A fair price – what a seller is willing to accept and a buyer is willing to pay. That’s what we normally strive for!

When an agent puts your home on the market, it has to be sold three times.

The first sale is to my peers, the other REALTORS® and buyers agents who are in the market everyday. They need to be excited about the price or they simply ignore the listing because it's often a waste of their time to show it to buyers who won't pay that price.

The second sale is to the buyer, and they compare your home to the others they're looking at in the marketplace comparing features and benefits that are important to them.

The third sale is to the appraiser at the buyers lender. Even if we're lucky enough to get a higher than market price from a buyer, the appraiser compares your home with past sales in the neighborhood and their appraisal usually hits right at the market price. It's a system of checks and balances that we have in the market.

If your home doesn't appraise, what will you do? Let's put yourself in the buyers shoes for a moment - if you bought a home (or anything for that matter) and the appraisal came in lower than what you paid, what would you do? How would you feel as a buyer? Cheated? Ripped off? Taken advantage of? What normally happens is the deal falls through and we begin the whole selling process all over again. Start again at square one, we’re back on the market!

The attached graph shows the Median List Prices and the Median Sold Prices for Streamwood Homes. An interesting feature is the difference between the List Prices and the Sales Prices when the market downturn began. There was a definite 'disconnect' between what sellers wanted for their homes and what buyers were willing to pay!

Streamwood Homes did a very strange thing - they 'flat lined' like a heart attack for over 9 months. If we were in an emergency room, we'd have a problem! Literally the market 'was dead' and there's no other explanation for it other than the listing prices stayed the same for those 9 months (yes, I rechecked it, no change in pulse). As the market progressed to today, we see that the prices are starting to converge upon each other and then take another dip due possibly to the tax credit ending. Does this mean that buyers and sellers have weathered the 'price chasm' together?

Both buyers and sellers of Streamwood Homes are settling in with the market and taking advantage of the wonderfully low interest rates available. All I can do is present to you the market as it is 'today'. Present time, present moment.

Streamwood Townhome Market Update, June 2010

Streamwood Homes - How many Short Sales on the Market?

Hanover Park Homes - What's the results of the tax credit?

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Mon, 26 Jul 2010 17:27:32 -0400

What's the results of the tax credit with Hanover Park Home Buyers?

I've been waiting to write this update now for quite sometime on Hanover Park Home Sales and to be honest, it sure is a let down!

Yep, anti-climactic end to the Home Buyers Tax Credit.

Like a sharp object aimed at a balloon, it's a total fizzle (or as Snoop Dogg would say 'a total furrrschnizzle').

The graph illustrates sales for single family and multi-family Hanover Park Homes from January to June 2010. With all the media hype, 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 for Hanover Park Homes is that I believe the tax credit was equally valuable to both single family and multi-family buyers. Here we see a surge for the deadline but again this could also because of the time of year. I really didn't get a feel that the buyers were 'bustin' down the door to take advantage of the credit. Ho-hum.

Foreclosures and 'better priced values' are being scooped up the fastest. Short sales? Well, they fell 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.

Looking to sell your home and work with an area expert?

See who sells the most Hanover Park Homes?

Looking to buy a Hanover Park Home and want to work with a buyers agent that's familiar with the area like the back of her hand?

Look for Hanover Park Homes now.
Look for Hanover Park Home Foreclosures now.

Look for Hanover Park Townhomes or Condos now.
Look for Hanover Park Townhome Foreclosures now.

I'd like you to contact me by email as soon as you can Lyn!

191 Hillcrest, Bloomingdale IL - $129,900 2BR 2BA

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Mon, 16 Nov 2009 13:46:53 -0500

Lyn Sims | RE/MAX Suburban | 847-230-7324

191 Hillcrest Terrace, Bloomingdale, IL

WESTERN MEDINAH AREA! 2BR 2BA NEAR FOREST PRESERVE!

2BR/2BA Condo

offered at $129,900

Year Built 1969 Sq Footage 1,087 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking Unspecified Lot Size Unspecified HOA/Maint $219 per month

DESCRIPTION

No updates needed - newer neutral carpet, remodeled Kitchen, remodeled Baths. Sunny unit with garage space, storage area, in unit laundry. Very private end unit overlooking oak tress and steps to Meacham Grove Forest Preserve that has walking paths, pond, etc. Small subdivision where you can virtually walk to shopping, banks, etc.

see additional photos below

PROPERTY FEATURES

- Central A/C - Central heat - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Basement - Laundry area - inside - Balcony, Deck, or Patio

COMMUNITY FEATURES

- Garage parking - Guest parking - Laundry on-site - Storage space(s)

OTHER SPECIAL FEATURES

- Remodeled Kitchen - Newer carpeting - Ceramic floors - Remodeled Baths - Newer furnace, AC, water heater

ADDITIONAL PHOTOS

Nice mature trees

Livrm

Master BA

Master BR

Kitchen

Contact info:

Lyn Sims

RE/MAX Suburban

847-230-7324

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 26, 2010, 8:27am PDT

428 Concord Lane, Elk Grove IL $319,900 Westgate ~ 3BR 2BA 2 car garage

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Mon, 26 Apr 2010 11:31:54 -0400

Lyn Sims | RE/MAX Suburban | 847-230-7324

428 Concord Lane, Elk Grove, IL

UPDATED ~ FIREPLACE ~ VAULTED BR'S ~ VAULTED LIVINGROOM WITH SKYLITES

3BR/2BA Single Family House

offered at $319,900

Year Built 1984 Sq Footage 1,674 Bedrooms 3 Bathrooms 2 full, 0 partial Floors 2 Parking 2 Car garage Lot Size 7,011 sqft HOA/Maint $0 per month

DESCRIPTION

CUTE COVERED PORCH IN THIS 2STORY UPDATED INSIDE & OUT! LAMINATE FLOORS, MARBLE FLOORS, MARBLE FIREPLACE, VAULTED LIVINGROOM, SKYLITES, WHIRLPOOL. NEWER ROOF, HIGH E VINYL WINDOWS, DECK, PAVER PATIO. 1ST FLOOR BR OR DEN. SPACIOUS KITCHEN OFFERS LARGE EATING AREA & ISLAND. COME CHECK IT OUT!
see additional photos below

PROPERTY FEATURES

- Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer - Laundry area - inside

OTHER SPECIAL FEATURES

- REMODELED BATHS WITH MARBLE FLOORS - WHIRLPOOL - SKYLITES WITH MECHANICAL SHADES - NEW ROOF - HIGH E VINYL CLAD WINDOWS - LAMINATE FLOORING - MARBLE FLOORING - MAYTAG NEPTUNE WASHER & DRYER INCLUDED - CRAWL SPACE - DECK & PAVER PATIO FOR ENTERTAINING

ADDITIONAL PHOTOS

Front

Vaulted Livingroom

Kitchen

Kitchen Eating Space

Vaulted Master BR

2BR has window seat

Contact info:

Lyn Sims

RE/MAX Suburban

847-230-7324

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 26, 2010, 8:27am PDT

2300 FLOWER CT, SCHAUMBURG IL $149,900 SHEFFIELD MANOR

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Mon, 26 Jul 2010 12:58:51 -0400

Lyn Sims | RE/MAX Suburban | (847) 230-7324

2300 Flower Court, Schaumburg, IL

READY TO MOVE IN!

2BR/1+1BA Townhouse

offered at $149,900

Year Built 1972 Sq Footage Unspecified Bedrooms 2 Bathrooms 1 full, 1 partial Floors 2 Parking 2 Uncovered spaces Lot Size Unspecified HOA/Maint $189 per month

DESCRIPTION

Lots of work done so you don't have to! New laminate floors, new carpeting, Kitchen updated, Main Bath just remodeled. 2 large BR's, Master has walk-in closet, laundry on 2nd floor. Close to Tollway access, shopping, parks & playgrounds.
see additional photos below

PROPERTY FEATURES

- Central A/C - Central heat - Walk-in closet - Tile floor - Living room - Dishwasher - Refrigerator - Stove/Oven - Laundry area - inside - Balcony, Deck, or Patio

COMMUNITY FEATURES

- Guest parking - Swimming pool(s) - Playground

OTHER SPECIAL FEATURES

- Assigned Parking - New Laminate floors - New carpeting installed - Recently remodeled Kithen with large eating space - Master has walk-in closet - Remodeled Main Bath with ceramic floor

ADDITIONAL PHOTOS

Front

Livingroom

Kitchen

Master BR

2nd BR

Contact info:

Lyn Sims

RE/MAX Suburban

(847) 230-7324

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 26, 2010, 8:35am PDT

Streamwood Townhome Market Snapshot - June 2010

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Thu, 22 Jul 2010 16:27:58 -0400

Streamwood Townhome Market Snapshot - June 2010

The graph illustrates sales for Multi-family Streamwood Townhomes, Condos, Duplexes, Quads 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.

Streamwood townhome 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 and 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 95% or 5% off list price.

What tells me that sellers still haven't priced their homes correctly in the beginning is the next set of numbers that I have which is the 'old sales price to sales price' came in at 90%. This means that the listing prices had to come down 5% more in order to sell in today's market. (95 - 90 = 5%)

Streamwood Townhome average market time was 138 days.

Looking to sell your home and work with an area expert? Let's work out a strategy to get your Streamwood Townhome sold!

Looking to buy a Streamwood Townhome and want to work with a buyers agent that's familiar with the area like the back of her hand?

Look for Streamwood Townhome or Condos now.
Look for Streamwood Townhome Foreclosures now.

Look for Streamwood Homes now.
Look for Streamwood Home Foreclosures now.

I'd like you to contact me by email as soon as you can!

Chicago's O'Hare & Midway Airports have 'Animal Relief Areas'

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Wed, 21 Jul 2010 12:29:34 -0400

O'hare and Midway Airports now have restrooms for pooches, reports the Chicago Sun-Times.

They're called "animal relief areas" and amount to patches of ground where a pet can do their business before getting on a plane. O'hare has two of them outside terminals 1 and 5 and Midway has one. City Aviation Department spokeswoman Karen Pride told the Sun-Times the areas are covered with grass, wood chips or gravel.

The areas bring the airports into compliance with new federal guidelines for passengers traveling with pets by the U.S. Department of Transportation.

So there, now you know.

Elgin IL Homes - $144,900 2BR 2BA Cook County Taxes

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Mon, 19 Jul 2010 17:08:41 -0400

Links

Photo Gallery

Front

Vaulted Livrm

Livrm

Kitchen

Eating Area

Master BR

Master has Walk-In

2nd BR

Cul-de-sac Location

Description

2BR 2BA manor home with vaulted livingroom! Lots of updates & care with laminate floor & marble counter in Kitchen, private balcony, 6 panel doors, neutral carpeting, all appliances stay. Super sized Master BR with walk-in closet. 1 car private garage and low Cook County taxes here!

Features

Bedrooms: 2Bathrooms: 2Parking Spaces: 1Year Built: 1996Subdivision: OAKWOOD HILLSLocated on Floor #: 2Floors in Bldg: 2School District: U46Agent Name: Lyn SimsBroker: RE/MAX SuburbanMLS #: 07578614

Location

1010 Lincolnshire Court Elgin IL 60120

1010 Lincolnshire Ct, Elgin IL $144,900 OAKWOOD HILLS

Lyn Sims and the Blog Dog© (RE/MAX Suburban) — Wed, 14 Jul 2010 14:14:37 -0400

Lyn Sims | RE/MAX Suburban | (847) 230-7324

1010 Lincolnshire Court, Elgin, IL

PRIVATE LOCATION ~ TONS OF SPACE

2BR/2BA Condo

offered at $144,900

Year Built 1996 Sq Footage Unspecified Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking Unspecified Lot Size Unspecified HOA/Maint $152 per month

DESCRIPTION

Vaulted Livingroom gives lots of light! 6 panel doors, location upgrade, laminate kitchen floor, 42" cabinets & marble counter. Master BR is generous & can accomodate the largest furniture also has walk-in closet. Private 1 car garage.
see additional photos below

PROPERTY FEATURES

- Central A/C - Central heat - High/Vaulted ceiling - Walk-in closet - Living room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Washer - Dryer - Laundry area - inside

COMMUNITY FEATURES

- Garage parking - Guest parking

OTHER SPECIAL FEATURES

- 6 panel doors ~ white molding ~ fresh paint - Master has Walk-in Closet - Private Balcony - 42" cabinets & marble counter in Kitchen

ADDITIONAL PHOTOS

Front

Livrm

Master BR

Kitchen

Eating Area

Contact info:

Lyn Sims

RE/MAX Suburban

(847) 230-7324

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 14, 2010, 9:56am PDT

Diets for your Pets?

What works for 'us' also will work for your dogs or cats. Move more - eat less! Makes total sense to me - now just put it into motion! This video has a good perspective on the new 'pet diets' that are now on the store shelves.

Something to think about.

Hanover Park Homes - Ever wonder how many Short Sales are on the market?

Ever wonder how many short sales are REALLY on the market?

I know I have. We hear in the media day in and day out about the short sale epidemic. Short sale this, short sale that. I decided to find out for you what is really going on. So much hype but what is the real story? How many?

With Hanover Park Homes that closed within the last 5 months there has been virtually a small percentage (11.5%) of homes going short sale. But, unfortunately there is a large percentage of foreclosures which my graph will represent. 'Arms Length' transaction is a regular sale between a seller and buyer.

So with Hanover Park Homes we have seen nearly the same amount of foreclosures (43.5%) as regular transactions close (45%). Very sad indeed but a happy beginning for the new owners.

If you are looking for an experienced agent that knows the local market inside and out? I'd be happy to discuss your buying or selling possibilities with you!

Search Hanover Park Homes Search Hanover Park Foreclosures

Bloomingdale Homes - How many Short Sales are really on the market?

Ever wonder how many short sales are REALLY on the market?

With Bloomingdale Homes that closed within the last 5 months there has been virtually a small percentage (2.5%) of homes going short sale. But, unfortunately there is a larger percentage of foreclosures which my graph will represent. An 'Arms Length' transaction is a regular sale between a seller and buyer.

So with Bloomingdale Homes we have seen less than a quarter the foreclosure total (20%) as regular transactions close (77%). Very sad indeed seeing that number increase but a happy beginning for the new owners.

If you are looking for an experienced agent that knows the local market inside and out? I'd be happy to discuss your buying or selling possibilities with you!

Search Bloomingdale Homes Search Bloomingdale Foreclosures

Bartlett IL Homes - How many Short Sales are there?

Ever wonder how many short sales are REALLY on the market?

With Bartlett IL Home Sales that closed within the last 5 months there has been virtually a small percentage (13%) of homes going short sale. But, unfortunately there is a larger percentage of foreclosures which my graph will represent. An 'Arms Length' transaction is a regular sale between a seller and buyer.

So with Bartlett IL Home Sales we have seen less than half the foreclosure amount (25%) as regular transactions close (62%). Very sad indeed seeing that number increase but a happy beginning for the new owners.

If you are looking for an experienced agent that knows the local market inside and out? I'd be happy to discuss your buying or selling possibilities with you!

Search Bartlett IL Homes Search Bartlett IL Foreclosures

Streamwood IL Homes - Ever wonder how many Short Sales are on the market?

Ever wonder how many short sales are REALLY on the market?

With Streamwood IL Homes that closed within the last 5 months there has been virtually a small percentage (18%) of homes going short sale. But, unfortunately there is a large percentage of foreclosures which my graph will represent. 'Arms Length' transaction is a regular sale between a seller and buyer.

So with Streamwood IL Homes we have seen nearly the same amount of foreclosures (40%) as regular transactions close (41%). Very sad indeed but a happy beginning for the new owners.

If you are looking for an experienced agent that knows the local market inside and out? I'd be happy to discuss your buying or selling possibilities with you!

Search for Streamwood IL Homes Search for Streamwood Townhomes

SHADOW HILL | ELGIN IL

Lyn Sims | RE/MAX Suburban | (847) 230-7324

228 Sonoma Dr, Elgin, IL

SAVE BIG ON THIS BIG HOUSE! 4BR'S - DEN - LOFT - 2.5 BA'S - 3 CAR GARAGE

4BR/2+1BA Single Family House

offered at $279,900

Year Built 2007 Sq Footage 3,122 Bedrooms 4 Bathrooms 2 full, 1 partial Floors 2 Parking 3 Car garage Lot Size .24 acres HOA/Maint $30 per month

DESCRIPTION

Save $100K or so on this newer home! Wonderful floorplan with open Greatroom & open Familyroom areas.
see additional photos below

PROPERTY FEATURES

- Central A/C - Fireplace - High/Vaulted ceiling - Walk-in closet - Hardwood floor - Tile floor - Family room - Living room - Office/Den - Dining room - Breakfast nook - Dishwasher - Refrigerator - Stove/Oven - Microwave - Stainless steel appliances - Basement - Washer - Dryer - Yard - Jacuzzi/Whirlpool

OTHER SPECIAL FEATURES

- 3122 SQUARE FEET - 3 CAR GARAGE - HARDWOOD FLOORS - 2STORY FOYER - BRICK FRONT WITH PORCH - INSULATED BASEMENT W/ROUGHED IN PLUMBING - MASTER HAS 2 WALK-IN CLOSETS - MASTER BATH HAS WHIRLPOOL, SEPERATE SHOWER - BA's HAVE CERAMIC FLOORS

ADDITIONAL PHOTOS

Front Porch/Brick

Familyroom

2story Foyer

Kitchen

Master BR

Master BA

Contact info:

Lyn Sims

RE/MAX Suburban

(847) 230-7324

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 19, 2010, 11:35am PDT