Monthly Archives: November 2012

Friday Fun

Happy Friday! What do you think, is social media a helpful marketing tool or a gateway to personality and behavioral disorders?

 

social media disorders

MLS Monday

Chicago detached homes under contract have risen to 24.7% since November 2011. Chicago attached homes under contract have also risen 35.8%.

 

 

 

 

Saturday Catch Up: Black Friday Weekend

Black Friday is a time when shopping takes primary focus. According to Chicago Agent Magazine, competition and shopping frenzy makes selling real estate during the holidays a great time. Unfortunately, the amount of real estate supply is less. However, the demand is higher. Let’s get some contracts this weekend! Good luck with open houses!

Mortgage Rate Updates

Mortgage rates are continuing a to steadily decline. Housingwire has a great article describing how customer confidence in the mortgage industry has risen. On the local front, Guaranteed Rate’s 30 Year Mortgage is at  3.375%.

 

Spring Sell? Bad Choice

“Waiting it out” has been a common feature of the real estate market. Although house prices have risen, the overall month to month prices have declined. According to the KCM Blog, if selling your home in the next year, remember that waiting it out might take longer than you thought. Consider a price reduction or going “green” in order to drive up interest in your property.

MLS Monday

The average market time in DuPage County has lowered from 182 days to 169. This decrease allows for a lower inventory and more houses to come onto the market for spring!

Saturday Catch Up: Short Sales

Short sales have been skyrocketing this past year. According to MRED, under contract short sales have risen 18% this year in Elmhurst alone. Therefore, short sales need a little more flexibility. The new guidelines allow additional private mortgage companies to okay short sales and deeds without an extra review time.

 

MLS Monday

The percentage of original price received in DuPage county has risen over two percent this past year. This is great news to those interested in putting their homes on the market in the near future.

Saturday Catch Up: Giving Back

This is a quick reminder to consider helping those in need ravaged by Hurricane Sandy. The NAR (National Association of Realtors) has a relief foundation at this link.