Lake County News, Local Real Estate News
Vernon Hills Real Estate Market Update For The New Year
January 21, 2010 by Sharron · Leave a Comment
Vernon Hills Real Estate has been affected by this down housing market, but the numbers aren’t as bad as other surrounding areas.
Everyone seems to be coming to terms with how selling your home today will affect your pocketbook. The Wagner appraisal report below that is pulled from the MLS shows that while in January of 2009 the home inventory months supply was 8.7 months, it has lowered 5.8% to 8.26 months on the market in January of 2010.
Although this report shows a 12 month change in the market, I want to touch on how almost 15% of the Vernon Hills Homes sold have been short sales and foreclosures in the last 6 months. This is bringing the inventory down and the prices of Vernon Hills homes.
In Vernon Hills!
You can look to get about 12% less then what your asking price is unless you price your home aggressively to sell.
Although this may not be the news you want to hear, the lenders are using these numbers to appraise out your home whether you are buying, selling or refinancing. We understand the importance of the information that affects the housing market and one of the biggest investments that people make.
Please contact us for more information on Vernon Hills Homes and the surrounding areas in Lake County Illinois.
