The Wall Street Journal reported this weekend that home sales are looking down in May. The federal home buyer tax credit expired on April 30th. This is consistent with what I am seeing in the market. I am expecting a big drop in pending home sales for May and June. Disappointed?, yes. Surprised?, no.
Much like [...]
When I work with potential sellers I always go over what I call the “Moving Van” slide. Too often, sellers size up who they think it their competition – homes with a “for sale” sign. But I tell them, you don’t want to study those guys. Instead study the families who had a moving van [...]
Schiller Real Estate announced today they are joining Koenig & Strey effective immediately. I think it’s a great testament to our community that a well-run chain like Koenig & Strey sees the importance of the Elmhurst market. It also makes me appreciate that much more the special LW Reedy Real Estate focus on Elmhurst families [...]
Out of the whole Remodeling Magazine survey this year, one project jumps out at me – entry door replacement. This year in the midwest a new entry cost $1229 and added $1106. It recouped 90.1%, putting it in the top spot. That doesn’t reflect the fact that entry doors are eligible for an ENERGY STAR [...]
Last year, the City of Elmhurst used federal grant money to commission a study of our local energy use. The study compares both commercial and residential averages to DuPage County and Chicagoland regional numbers. The results are published on the City of Elmhurst website. The Elmhurst Energy & Emissions Profile was produced by the Center [...]
My year-end market summary for Elmhurst real estate really serves as an opportunity planner for 2010. With the tax credits for both first-time buyers and current home-owners extended into 2010, I expect the year to start very strong.
(Chart below: Blue = Under Contract, Red = Active, Green = Closed)
For those of you considering a move, 2010 surely [...]
Finally some good news recently for all the real estate fence-sitters out there. The big news is that there is now a new tax credit for “repeat buyers” – people who already own a home. That credit for $6500. For first-time buyers it is $8000.
The National Association of Home Builders (NAHB) is predicting that 70% [...]
I’m like everyone else…real estate was a driver of the current recession, and we need great growth in real estate to bring us back. And the good news is that we are seeing some good news lately. However, I noticed stats in two different industry publications that I follow that seem a little troubling. But [...]
If you’ve been concerned about what buyers will think about your appliances when it’s time to sell…the time might finally be right to finally swap them out for ENERGY STAR models.
Much like the famous “cash for clunkers” program, the Federal government has released the funds promised in February to cover rebates for consumers who swap [...]
John Tuccillo, a real estate economic forecaster for Mainstreet Organization of Realtors recently reported 2nd Quarter statistics for the west suburban market. The result is…a mixed bag, which is actually a good thing. At least we finally have some positives to talk about!
Some local takeaways…
* Nationally, existing home sales are up, real estate inventory is [...]