The Sharron Kelley Team » December 2011 Buffalo Grove Real Estate Market Reports

December 2011 Buffalo Grove Real Estate Market Reports

Michelle — Wed, 01 Feb 2012 20:49:38 +0000

December 2011 Buffalo Grove Real Estate Market Reports

2011 has come and gone and from some in the Buffalo Grove real estate market it was a good year and for others it was not.

The year end market reports for the Buffalo Grove Real Estate market are mixed. Existing detached sales were down 4.3% in 2011 from 2010, but existing attached homes sales were up 6.7%. While these number are nothing too drastic, the numbers that are, are the average sales amounts. The average sales amount of a detached single family Buffalo Grove home in 2011 was $305,990 down 12.5% from $349,804. The number for the attached housing market reads similar, at an average of $141,052 per home down 15% from $165,910.

We have been saying it all year in each and every market report blog we write. NOW IS THE TIME TO BUY! Prices are low, interests rates are low, and there is a surplus of homes on the market, so there are a lot of choices when shopping for a home in the Buffalo Grove real estate market.

If you are a seller we know it is tough. We deal with this hectic environment each and every day. What we can tell you is that statistically prices have been dropping for a few years now. Unfortunately, the end is not near with what analysts are saying is record numbers of inventory siting in the wings waiting to be released by the banks as foreclosure properties. What we are advising is that if you want to sell and purchase and new home you should do it now. Yes, you are possibly losing money on your sale, but that your loss is likely to get larger over the next couple years. When you buy you must consider that you will be making up part of the loss by purchasing low and at record low interests rates.

Please visit the links for this years 2011 Buffalo Grove Real Estate Market Reports.

View Full Year To Date Attached Buffalo Grove December 2011 Market Report

View Full Year To Date Detached Buffalo Grove December 2011 Market Report

View Full Month To Date Attached Buffalo Grove December 2011 Market Report

View Full Month To Date Detached Buffalo Grove December 2011 Market Report

Please contact me, Sharron Kelley, today at 847-465-3638, for the latest updates on Buffalo Grove real estate. Click here for free access to the Buffalo Grove MLS, to view all available Buffalo Grove Real Estate, Long Grove Real Estate, Vernon Hills Real Estate and Palatine Illinois Real Estate.

Just Listed: Buffalo Grove Real Estate For Sale in Old Farm Village

Michelle — Tue, 31 Jan 2012 16:52:03 +0000

Just Listed: Buffalo Grove Real Estate For Sale in Old Farm Village

www.220StantonDr.com

Welcome to 220 Stanton Dr in Buffalo Grove! This wonderful home has just been listed for sale on the Buffalo Grove Real Estate market and is located in the highly desirable subdivision of Old Farm Village. What was once a Coventry model has now been transformed into a custom home with 2 amazing additions and boasts 4 bedrooms, 2.5 baths and 2930 SQ FT.

Upon entering this wonderful Buffalo Grove home you are greeted by a 2 story foyer that opens to the spacious living room that has vaulted beamed ceilings, carpeting, wall sconces, and plantation shutters. The dining room has rich hardwood flooring, crown moldings, and custom light fixtures.

The large family room is perfect for entertaining with a fireplace with gas starter, built-in bookcases, and french doors leading to the patio. Just off of the family room is the first stunning addition, a four seasons room that you will spend all of your time in. There are gorgeous hardwood floors, cathedral ceilings, recessed lighting, a ceiling fan, and a wet bar. There is wall of windows that lets natural light pour in and allows you to enjoy the tranquil views.

The kitchen has been remodeled with gorgeous granite counter tops, refinished java stained cabinetry, and all new appliances. There is plenty of counter space and a large eat-in area that make this kitchen perfect for entertaining a large crowd.

The master suite has two walk-in closets and a spacious bath. The master bath has been updated with a new his and her vanity, quartz counter tops , Kohler sinks, and new faucets. There is a tiled floor, double shower, and vaulted ceilings.

This is a wonderful home that is perfect for a family looking for a great place to curl up at the end of a long day or for a place to get together and entertain family and friends. The home is situated on a quiet lot, yet is close to amenities like shopping and Metra. Another great feature of this great piece of Buffalo Grove real estate is that it is located in highly desirable Earl Pritchett Elementary and Aptakisic Middle School as well as award winning Stevenson High School.

Village of Buffalo Grove:

Buffalo Grove Real Estate Market Reports November 2011

Michelle — Wed, 14 Dec 2011 18:59:21 +0000

The November 2011 Buffalo Grove real estate market reports are in and we are happy to report good news.

As you would expect prices are still down and they will be for some time to come. BUT, the number of homes selling is going up. This means a few different things if you are looking to buy or sell in the Buffalo Grove real estate market.

1) Buyer Be Aware - Now is the time to get off the fence and buy in the Buffalo Grove real estate market. Interests rates are at historic lows and are not going to go any lower. Prices are low as well and most people are wondering if they will go lower. The answer is yes depending on the area you are looking in. But if the prices go down and the interest rates go up you have to calculate if you will really be saving money over a 30 year mortgage.

3) Sell Now And Forever Be in Peace - We know the Buffalo Grove real estate market is a tough one right now. Prices are down, inventory is up, and its all just a bit overwhelming. If you need to sell and buy another home then you must remember that what you will be losing in equity on your sale you will be making up on your buy which makes this a “Move-Up Market”. Combine that with the low interest rates and you will be getting an incredible deal.

Another great reason that now is the time to sell is that buyers right now are highly qualified. Pre-qualifying for a mortgage in today’s market is not the same as it was 5 years ago.

I know we are asking to take a leap of faith, but we are confident that if you decide to sell your Buffalo Grove real estate you will feel a sense of peace in your life that you were able to make a move and net the highest return with your combined transaction.

View Full Year To Date Attached Buffalo Grove November 2011 Market Report

View Full Year To Date Detached Buffalo Grove November 2011 Market Report

View Full Month To Date Attached Buffalo Grove November 2011 Market Report

View Full Month To Date Detached Buffalo Grove November 2011 Market Report

Buffalo Grove Real Estate Market Stats for October 2011

Michelle — Tue, 08 Nov 2011 17:30:19 +0000

Buffalo Grove Real Estate Market Stats for October 2011

The Buffalo Grove real estate market stats for October 2011 have been released and the news continues to be the same. Now is the time to BUY! But it’s also the time to sell. We report on the market statistics every month and the one consistent trend is that prices are going down. If you want to sell your home and move up, do it now before the prices go any lower.

Attached October 2011 Buffalo Grove Real Estate Market Stat

Detached October 2011 Buffalo Grove Real Estate Market Stats

Buffalo Grove Real Estate October 2011 Market Trends Report

The article below, just released today in the Daily Real Estate News and yesterday on Yahoo Finance, is another reason home prices are going to continue to head downward. As a Buffalo Grove real estate agent I cannot say it enough “Now is the time to sell!”. If you are ready and want to move or if you are currently on the market don’t wait any longer. Price it right and get it sold! If you price you home to high you will constantly be chasing the market instead of being competitive in the market. We here at the Sharron Kelley Team know it’s hard news to swallow and it’s hard news for us to have to keep delivering.

Foreclosures on Rise Again, More Trouble for Home Values?

DAILY REAL ESTATE NEWS | TUESDAY, NOVEMBER 08, 2011

Foreclosure starts are reversing course and are back on the rise, which is expected to continue to put downward pressure on home prices, a new report released Monday from Fitch Ratings says. With a jump in the inventory of distressed homes, Fitch predicts home prices to dive another 10 percent nationally before stabilizing.

Foreclosures on delinquent loans have nearly doubled compared to this time last year, when a robo-signing scandal temporarily brought foreclosures to a standstill in many parts of the country.

According to Fitch’s most recent report, foreclosure starts on severely delinquent loans have jumped more than 10 percent in a month. In fact, the spike is nearing the average rate of 14 percent that was seen between 2000 and 2010, according to Fitch’s RMBS (residential mortgage-backed security) Performance Metric.

Foreclosure initiation rates on borrowers who haven’t made a mortgage payment in more than six months also have nearly doubled in the last five months.

“Rising foreclosure start rates are likely a sign that servicers are playing catch-up on actions that have been delayed over the past year,” Diane Pendley, Fitch managing director, said in the report. “Mortgage servicers now generally feel they have implemented the corrective actions that they determined were needed.”

We at The Sharron Kelley Team at Coldwell Banker in Buffalo Grove can help you buy and sell in the Buffalo Grove real estate market. We work with people everyday to find the solution that works best for them and we can help you too!

Buffalo Grove Real Estate Market Reports for August 2011

Michelle — Wed, 14 Sep 2011 18:20:04 +0000

The Buffalo Grove real estate market reports for August 2011 have just been released and the numbers are as they were expected to be. Both the numbers for attached and detached housing in Buffalo Grove are down across the board and this is not surprising. Here is what this means if you are going to be selling a home in Buffalo Grove:

We post the Buffalo Grove market reports each month and for the year of 2011 the prices have consistantly gone down. This is right in line with what the media outlets report and is what is expected due to the overwhelming amount of short sales and foreclosures currently on the market and the shadow inventory that is scheduled to come on the market. Now I bet you are scratching your head thinking this is all bad news for you and your home. I want to you to try and think of this from a different perspective. If you are in the position to sell now is the time to do it. If you want to sell your current home and upgrade to a larger home or maybe a higher end community, now is also the time to do it. Let me explain why.

View Full Year To Date Attached Buffalo Grove August 2011 Market Report

View Full Year To Date Detached Buffalo Grove August 2011 Market Report

View Full Month To Date Attached Buffalo Grove August 2011 Market Report

View Full Month To Date Detached Buffalo Grove August 2011 Market Report

As you can see from the attached market reports prices are trending downward. If we take a look at the reports, listen to the media, and follow the advise of the experts in the real estate world, this trend is going to continue. It is not forecasted to trend as downward as it has and many experts believe we are just about at the bottom. But a big problem out there right now in the Buffalo Grove and surrounding real estate markets, is the shadow inventory of short sales and foreclosures I mentioned earlier. It has been estimated that there are about 1.8 million homes (nationally) sitting in the shadows that will come on the market during the 4th quarter of this year and into the 1st and 2nd quarters of next year. Now, I bet you are wondering what this means for you as a seller. It means that prices in your area will continue to drop and as that happens it means you will sell for a lower price than if you sold today. It also means that when you sell your home and it is time for the appraisal process there are going to be more short sales and foreclosures used as comparables. It used to be that appraisers did not look at those as comps, but in today’s market when they are such a prevelant part of the Buffalo Grove real estate market, an appraiser has no choice but to use them.

In short, by waiting to sell your Buffalo Grove real estate you will net a lower sales price than if you sell today. The trends show the longer you wait the less you’ll sell for. Our suggestion is to sell today! Mortgage rates are low and this is great for potential buyers. Another plus for potential buyers is the amount of homes on the Buffalo Grove real estate market. Larger inventory means more homes to choose from which will also drive prices lower. Don’t wait any longer, the time to sell is NOW! If you not ready to sell now that’s ok, but make sure you are prepared to sell for less or to stay in your home for a longer period of time as prices are not likely to rebound any time soon.

If you would like more information on the current Buffalo Grove market statistics or would like to learn more about putting your home on the Buffalo Grove real estate market please contact a member of the Sharron Kelley Team today and we can help you through the process of deciding what’s right for you in the current market conditions.