According to the chief economist at Fannie Mae, Doug Duncan, “Consumers are still committed to owning a home, but are showing increased cautiousness.” People are rethinking and adopting a more realistic approach. They are not willing to take on big risks. Flipping is becoming a thing of the past.

More than 30%-40% felt personal safety and the quality of schools to be most important in their home search. Other results from the telephone survey of 3,451 people over the age of 18 were:

65% felt there is still value in owning a home
66% believe NOW is a good time to buy a home
70% believe home ownership is the safest investment
15% felt is was acceptable to stop making payment is they are financially distressed or “underwater”

People still want to own a home and many are still in a financial position to purchase. There are so many good home values available today and with interest rates still under 6% it is really a great time to be a buyer.

If you are looking to purchase a home in Northern Illinois visit our website at www.NorthernIllinoisHomes.com and sign up for our Free MLS Search Program.

If you are looking to purchase a Short Sale or Foreclosure property visit our website at www.NorthernillinoisBankowned.com and sign up for our Free Short Sale Search Program.

22 homes were sold through February 2010 verses 15 homes in 2009 which is a 46.7% increase

The Average sale price through February 2010 is $311,364 verses $353,660 which is
down 12.5%

The Medium sale price through February 2010 is $292,000 verses $267,000 in 2009 which is up 9.3%.

The attached chart shows the market statistics for detached homes and highlights the surrounding towns closest to Buffalo Grove.

The good news is that lower price range is moving up which is expected. The first time buyer is leading the market and is serious about purchasing as we do not for see the tax credit being extended again. The move up buyer is the market that is hardest hit and will take longer to recover.

In the next several weeks The Sharron Kelley Team will be introducing a new program that will help our clients attract new buyers to their homes and will be exclusive to our team. For more information please contact me at 847-465-3638. Until next time have a great month.

To View The Full Year to Date Market Report for Detached Homes

To View The Full Year to Date Market Report for Attached Homes

To View The Full Month to Date Market Report for Detached Homes

To View The Full Month to Date Market Report for Attached Homes

12 Homes were sold in January 2010 verses 6 Homes in 2009.

The Medium sale price in January 2010 is $312,583 verses $351,067 in 2009 and is down 6.7%.

The chart below shows the market statistics for detached homes and highlights the surrounding towns closest to Buffalo Grove.

Is the Market Going to Turn Around in Lake County Illinois?

The good news is that Vernon Hills, Kildeer, Long Grove, Hawthorn Woods, and Libertyville pricing has gone up in January. This is very good news for everyone, I know it is early in the year, however homes are selling.

We just sold another home in the Buffalo Grove Rolling Hills subdivision www.1923Sheridan.com

As 2010 continues we can look forward to an upswing in real estate. I know that from last year this time, business is already picking up for me. Although last year was one of the worst for me in a long time, I was still able to top off as the #1 Agent at Coldwell Banker in Buffalo Grove and #3 in the Northwest Region.

As we see a small turn in the market, I am looking forward to a great year from myself, my fellow real estate agents, home buyers and home sellers.

Full Market Report Lake County Illinois Suburbs Detached (PDF)

Full Market Report Lake County Illinois Suburbs Attached (PDF)

I you are looking for more information about the Northwest Suburbs of Illinois including Long Grove, Buffalo Grove, Vernon Hills, Libertyville, Hawthorn Woods or Palatine give The Sharron Kelley Team a call at 847-980-0426 or email me at sharron@northernillinoishomes.com

We are continuing to see home sales rise in many of the Lake Country Illinois suburbs including Buffalo Grove.

So What do you do When selling your Buffalo Grove Home?

The first step is to talk to a knowledgeable agent who knows the area. Every seller needs to look at an agents credentials and ask them:

What are you going to do to sell my home?

Our team gives your home the exposure that it needs. We come up in top searches of goggle, yahoo and even pay for sponsored searches. We advertise in newspapers in print and online. Coldwell Banker Online, Northernillinoishomes.com, Realtor.com and many other websites are the heart of our business.

We can go on and on about the website exposure your home we have but you need to see it for yourself. View our Exclusive Marketing Plan (PDF) and you will know you will be dealing with a great team, the number one team at Coldwell Banker in Buffalo Grove.

Just like Forest Gump said “Life is like a box of chocolates, you never know what you are going to get.”

Ever seller feels like they have the piece of chocolate that a buyer wants. Every buyer knows that they get to sift through the box of chocolates, take a bite and see which one they like.

I’m here to tell you that in either one of those situations you need an experienced real estate agent that is going to represent you, the buyer or seller so you benefit based on your situation.

Whether your home is short sale, you don’t have to move or want to; if you are relocating, looking to buy an investment property or you are a first time home buyer, the Sharron Kelley Team is here to help you.

Below is very useful information on the housing market in Buffalo Grove and many of suburbs in Lake County Illinois. Contact us for all of your real estate needs because we know how to get the job done.

Full YTD Detached Housing Market Report

Full YTD Attached Housing Market Report

Full MTD Detached Housing Market Report

Full MTD Attached Housing Market Report

The Sharron Kelley Team is a Buffalo Grove, Vernon Hills, and Long Grove Specialist. If you are looking to Buy or Sell in the Vernon Hills School District 128 or Stevenson High School District we are the team for you.