lake county homes for sale

Latest Home Sale Statistics through November in Buffalo Grove, Vernon Hills, Long Grove Area, Libertyville and Mundelein

Every month we get a report from the Realtor Association of Northwest Chicagoland and it shows an overview of what is going on in our market and also compares the closed sales year to date with a comparison of last year. One of the biggest issues we currently have is the banking and appraisal industry.

Northern Illinois Home Sales

The majority of our towns are stated a declining market which in fact reduces the appraisal by an additional 5%. Out of the last five homes we have put under contract only one appraisal came in at purchase price. Basically the banks do not want to lend money and are reducing the value of everyones home and who created this horrible mess? I am suggesting to all my clients that they have an appraisal prior to putting the home on the market so they can see how the banks are looking at the value of property.

Please read the Northern Illinois Home Sales Report [PDF] and call me with any questions.

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