Archive for 2013

29 Sep
How is the market?
Posted On : 09 29th, 2013   By : Alice  |  Real Estate

We are being told via numerous news outlets that the Real Estate Market is up this year throughout the United States. Are you wondering if DuPage and Will counties are improving as well? The answer is YES!

The data for Single Family homes through August of 2013 shows some of the strongest gains in the last 3 years!  Here are answers to some the most common questions:

  1. What is the average number of Days on the Market?
    • We had our lowest in August with an average of 54 days on the market.  A huge drop from 109 days from April 2011
  2. What is the average Sale Price?
    • This is tricky because neighborhoods very and differ so much. But in Will and DuPage counties the average sale price peaked in June of 2013 at $289,000 up from $214,000 in January 2012
  3. What is the inventory like in our area?
    • Like most of the United States we are at the lowest! August had an inventory of 5,249 homes and 1,604 homes sold.  In August of 2012, there was an inventory of 7,074 and 1,264 homes sold.  This shows there are more people buying however much less to chose from. (Hint, hint, great time to SELL!) September of 2010 there were 9,777 homes and only 726 homes sold (Buyers Market)

This is exciting news for the housing market!  We are happy to see it is coherent with the national average.  If you have any questions or are trying to decide if it is a good time to sell your home, give us a call.  We are happy to answer your questions.

**Based on information for Single Family Homes from Midwest Real Estate Data LLC for the period 8/31/2010 through 8/31/2013. Due to MLS reporting methods and allowable reporting policy, this data is only informational and may not be completely accurate. Therefore, The Alice Chin Team and Coldwell Banker Residential Brokerage does not guarantee the data accuracy. Data maintained by the MLS’s may not reflect all real estate activity in the market.

6 May
Furnishing A New Home
Posted On : 05 6th, 2013   By : Alice  |  Real Estate

Furnishing A New HomeCongratulations!  You just purchased your new home! After putting money towards your down payment, taxes, appraisal, inspection and moving into your home your may find your wallet a little thinner for a few months. However, you may have been able to purchase a larger home than you expected due to competitive home prices and interest rates. Now, how do you plan to furnish your brand new home?  Many stores do offer some great incentives, including 12 months same as cash, or payment deferments. If you would like to stay away from this, but do not want unfurnished rooms, here are a few ideas!

  •  You can find some great pieces and complete sets for great prices. Typically you are dealing directly with the owner and are paying in cash.  Always use safety precautions. Try to avoid going into homes. Typically if an owner wants to sell something it should be in a garage.
  • Garage Sales.  Garage sale items are priced much lower than retail price. You are buying from the owner and negotiate directly with them. During the weekends on warmer months, you will find all sorts of garage sales and many homeowner associations host a giant neighborhood sale for the public to visit. These are particularly helpful because there are a lot of garage sales within one area. This can save a lot of time instead of driving all around town looking for individual garage sales.
  • Estate Sales.  Estate Sales are similar to garage sales and craigslist in regards of selling personal belongings and furniture, but it is on a much bigger scale. Typically a homeowner hires an estate company to come into their house and assist them in selling all of their belongings that need to go. People have estate sales for many reasons: foreclosure, divorce, downsizing, or selling of the estate (deceased family member). Regardless of the reason, you can find furniture, art, holiday decorations, antiques, etc., at a fraction of the price. Depending on when you are able to go to the sale, you can even negotiate with the company. Typically you are dealing with a reputable company that can accept payment via credit or debit cards.  If you have not been to an estate sale, it is worth a look to see how they operate. You walk through all the open rooms in the house and anything that is for sale will have a sticker or price tag on it.  There are usually associates who will be able to assist you if you have any questions on any item that may be for sale.  Estate Sale Etiquette is important to follow… there are lots of people that come through the home, so it is important to be respectful to the associates, other shoppers and of course, the owner’s home and all the belongings in the home.

Good luck with your home and have fun making it your own!