I am working with some great first-time buyers.  They are excited to be buying their first home and they're expectations are pretty much on track, although I think they're pricing ideas are a little off (lower than market value).  We have already seen a few homes together, and yesterday they wanted to view two Homer Glen homes.

It just so happened that both homes were priced exactly the same and they were the same style home, what we call a Forrester in my area.  It is a kind of split level with a unique floor plan where the dining room is a few steps above the living room.  Sometimes the living room is a step up from the foyer.  Same price, same style.

House #1

The first house looked nice from the outside but once we stepped inside we could see it was dated.  Everything in the house was original, including the multi-blue and white shag carpeting in one of the bedrooms.  It also had a blue bathroom, meaning the tub and toilet (and possibly the sink - can't remember) were a blue color that was popular in the 60's & 70's (house was built in 1976).

As we walked through the house we could tell it wasn't kept up well and talk about cobwebs!  I wouldn't even walk into the basement that far because I would have been the spider web cleaner.  Looking up into the rafters made me wonder if there was a spider problem.  It was loaded with thick webs that gave each one of us the creeps.

It did have a huge yard but my buyers felt there were too many trees on it which would require more work cutting the grass and cleaning up in the Fall.  The best thing about the house was the awesome wrap-around deck that was huge and looked to be in good shape.  Lots of work in this house and I felt it was priced a minimum of $35,000 too high, probably more like $40,000 or more.  It has been on the market since July ($25,000 higher when it was first listed) and I think it will remain on the market unless the sellers fix it up or reduce price.  It seems like it might be an estate sale - I didn't open the fridge to see if anyone lived there but there was a senior exemption for taxes.  Furniture was sporadic so I couldn't tell otherwise.

House #2

The 2nd Homer Glen home, same style, same price.  Hardwood floors in most rooms vs. carpets (my buyers want hardwood).  Updated kitchen with loads of cabinets and counter space.  2 bathrooms were updated but there was also a blue bathroom in this house, but it was done a bit differently and my buyer actually liked it.  Looked like at one point the tile around the bathtub was redone - although still in blue to match the tub.

There was a difference in the family rooms in the two homes.  The first home must have had a custom family room done when first built as it was more of an L-shape (not typical for this style) and had a wall of cabinets with a small wet bar.  The 2nd home had a more typical big square family room which my buyers preferred as it was easier for furniture placement.  This home had a slightly sloping yard but it wasn't super steep and had two brick paver patio areas and just a few trees that were nicely landscaped with brick surrounds.

The second home was cleaner and guess what - no hanging and thick spider webs.  I swear that first house needed an exterminator.  I don't think anyone lived in the 2nd house and also had a senior tax exemption.  Do I think the 2nd home was priced correctly?  No - I still think even though it was better it was still $25,000 overpriced.  It showed as a new listing but was on the market for more than a year.  Its starting price was $55,000 higher than the current price.  These homes were minutes away from my Homer Glen home and I know what homes are selling for in the area.

What will my buyers do?

Although they seemed to like the 2nd house I'm not sure the sellers are ready to sell at the price we feel is correct, and I think my buyers feel that my thoughts on price are too high.  These sellers certainly won't reduce $50,000 at this point in time.  It might happen, but it might take another year unless they wise up.

I have a feeling my buyers will continue looking.  We might try an offer but I doubt we'll come to terms with these sellers.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

The following chart shows the market report of suppy and demand for all of 2011 for single family Lemont homes.

As you can easily see, like most southwest Chicago suburbs, there is a big discrepancy between the amount of homes available for sale in Lemont vs. those that went under contract or sold and closed.  The month with the highest amount of active listings (the red line) was April and the lowest amount of inventory was in December.

The lowest months that homes went under contract were September, December and January.  February had the least amount of homes that sold and closed.  More Lemont homes went under contract in July and the highest amount of closings occurred in August.

The bottom line is, if you're a seller and your Lemont home has been sitting on the market waiting to sell you probably need to consider lowering your price or doing some updates or repairs to make your home stand out from all the rest currently on the market competing against you.  With these kinds of figures it is easy to see why we are calling this a Buyer's Market.  Buyers have a lot to choose from!

If you're thinking of buying and/or selling in this popular village give Judy Orr a call at 708-536-8200 or use the Email me link to the right.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

I was feeling good this morning - and I'm not a morning person.  I'm gearing up to show some houses today and all was well, even the day after 6 inches of snowfall. 

Then I read my e-mail.  Picnik will be shutting it's doors.  They are even going to rebate my upgrade fee.  I don't want my upgrade fee - I want my Picnik!

I've used Photoshop for years.  I don't find it easy.  I use Snagit for some nice edits, but it doesn't offer as much as Picnik.  I've tried all of the other free online editors (Gimp, Irfanview, Splashup, Photoscape and more).  I've downloaded some and got rid of them when I didn't like it.  I don't mind paying, but it must be as easy-to-use as Picnik.

Can anyone help?  Have you found a photo editor that is anywhere near Picnik?  I see that Google+ is offering some things but I haven't tried it yet.  I quickly read through Lightbox View and Creative Kit, and I'm not getting it.  I'll have to get to know Windows Live photo editor, they make it look easy on TV and I've been meaning to try it but why bother when I had Picnik.

I'll need to keep experimenting on other editors so I can be ready to go when Picnik will be gone April 19, 2012.  I know that day will be coming too soon.

Businesses close, things change.  I have never felt so depressed about the ending of a product like I do about Picnik. 

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

Orland Park Homes Supply & Demand Chart for All of 2011

We finally have our year-end statistics and the chart above shows us exactly what a Buyer's Market is.  The red lines represent active Orland Park homes for sale.  The blue line shows us homes that went under contract for the month.  The green line shows homes that sold and closed.

One thing I especially like about this chart is that it shows us what months showed the most activity in each category.  August had the largest supply of homes for sale.  More homes went under contract in May and the most closings occurred in July from those May contracts.  Not much went under contract in December, which is usually the norm.

If you're a seller in Orland Park and you're wondering why your place is sitting on the market without any offers, this chart should hopefully put into perspective the over-supply of homes for sale.  Buyers have a veritable smorgasbord of properties to choose from and homes must be priced at or under market value to have a chance.

You might think you're at market value, but if your home doesn't show as well as a similar home priced the same then buyers won't make an offer.  Sometimes we agents feel like broken records - reduce your price, over and over.  The rule of thumb is for every 4-6 weeks without an offer, a 3-5% price reduction should be taken until you receive one.  When we sold our home recently we reduced price every 3 weeks.  It depends on your motivation but if you don't adjust, the market will overtake your current price and you will be competing with more valuable homes that have kept up with the market.

Orland Park hasn't been hit as hard as some other villages, but it's still not easy being a seller in today's market.  On the other hand, buyers have a huge selection and low interest rates to boot.  If you're thinking of buying and/or selling, give Judy Orr a call at 708-536-8200 or use the Email me link to the right.  This chart and my comments might seem negative, but I've been super busy and I feel like 2012 is going to be better than 2011.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

Homer Glen Homes Supply & Demand for 2011

As you can see from the chart showing the entire year of 2011 for supply and demand of single family Homer Glen homes, there were way too many homes up for sale compared to homes that went under contract or ended up closing.  Every single month showed a huge discrepancy.

Any seller viewing this chart should understand why their agent might be asking for multiple price reductions, a lack of showings and no offers.  Look at all the competition!

Another reason I enjoy this full year chart is that it shows us what months were more active during the year.  I like to see high months of homes going under contract (blue), but not all of those end up closing.  It looks like May had the most closings (green) and as is usual, the end of Fall and the winter months have the least amount of activity.

Look again at the tall red lines compared to the much shorter blue and green lines.  Even if we stacked the last two together, it would still show that there are many more homes up for sale than those that actually received accepted offers and closed.  I'm hoping we'll see more sales in 2012 and if you're thinking of buying a place in the southwest suburbs of Chicago, give me a call at 708-536-8200 or use the "Email Me" link to the right. 

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

Lemont IL Market Activity for the month of December 2011

In 2010 there were 114 single family Lemont homes for sale.  I won't get the 2011 stats until next month, but this is a baseline when comparing one month to an entire year for this popular southwest Chicago suburb.

Let's break it down:

• There were 10 new listings, but read the next line for what that most likely means...
• There were 10 expried listings.  Most, if not all of these are the 10 "New" listings that went back on the market.  In many cases, when a listing expires it is relisted either by the original agent or with a new brokerage.
• Four sellers decided to make price changes, and these are normally reductions.
• There were 9 closed homes, so homes are selling and making it to the closing table.
• There were also 9 homes that went under contract.  I'm hoping they all make it to closing.

I am anxious to see our year-end stats for all of 2011.  I have a feeling that we will see a higher amount of number of homes sold, but I'm not sure about price increases.  Some areas have showed slight increases this year compared to last with quarterly results, but I'm interested in the entire year.  I'll be posting those when they're available.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

I usually show sales statistics in a graph form like I did here.  But our MLS offers the little pie chart below and it's interesting to see actual market status changes.  In fact, this could be titled a Market Status report.  The chart shows activity for single family Orland Park homes for the past 30 days from today's date.

The Breakdown

• There were 31 new listings in this time frame.  I think that's pretty good for the holiday season as many sellers wait until the new year to list.
• There were also 21 homes that had expired listings, meaning they weren't able to sell during their listing agreement time frame.  Some of these are probably part of the 31 new listings.
• 13 sellers decided to make a price change, and they are usually reductions.
• There are 27 (hopefully happy) sellers that were able to sell and close their homes within the past 30 days.  There are buyers purchasing at today's low prices and interest rates, which is a good thing!
• There were 14 contracts accepted on Orland Park homes during this time period.  Hopefully, they will all close, but there is no guarantee that will happen.

In 2010 there were a total of 265 single family Orland Park homes that sold and closed.  We usually see reduced activity during the holiday season and winter months, so I'll be eager to see how the entire year of 2011 stacks up against 2010 figures.  I'll let you know as soon as I get the data.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

The pie chart below shows an easy-to-read market activity report for single family Homer Glen homes for sale.

There were 15 new and expired listings during this 30 day time period.  Many expired listings re-list, either with their current agent or with a new one, so I'm not sure if the 15 new listings were once expired, but I'm sure one or more were truly new listings on the market.  Not all expired listings re-list, especially at this time of year.  Some sellers prefer to keep their homes off the market during the winter and/or holiday season and will list again next year.

5 homes went through a price change, which is usually a reduction.  We're seeing this a lot in this Buyer's Market, and some listings take many price reductions until buyers finally see the value.  I'm surprised there are only 5 price changes.

10 homes closed, which is a great figure to see.  That should be 10 happy sellers and buyers.

Another good figure is the 13 homes under contract.  Just because a property has an accepted offer doesn't mean it will close, but most do so at some point homes with this status will proceed to the "closed" designation.

We're nearing the end of the year and I'm anxious to read our full sales statistics for all of 2011.  I will post them as soon as they are available.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

The average sale price of homes in Homer Glen year-to-date in the 3rd quarter of 2011 is $292,333.  There are currently no Homer Glen homes available under $100,000.  There are currently 8 single family homes available under $200,000.

As of today's date, the lowest priced home is in Pebble Creek and is listed at $165,000.  It is a short sale and is a raised ranch style with 3 bedrooms, 2 full bathrooms and has a finished lower level.  It has been on the market for 65 days and started at $189,900 and has taken many price reductions to get to the current price of $165,000.

Out of the 8 homes available, 2 are regular sales, 2 are foreclosures and 4 are short sales.  The longest market time is 919 days and the shortest is 43 days, which just means it is the newest listing of the eight.

If you think Homer Glen is out of your price range, there are homes available priced under the average sale price for the village.  If you'd like to see any of these homes give me a call at 708-536-8200 or use the E-mail link to the right.

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate

I'll never forget the day we met.  I was out looking for something completely different, and then you crossed my path.  When I first laid eyes on you my heart skipped a beat.  I felt my heart fall into my stomach - that's the only way I can describe it.  You made me feel like I was the most important person in the world.

I would repeat my mantra over and over, "You were made for me."  But everyone that met you also loved you.  What wasn't to love - handsome, friendly, funny, playful, gentle, the list goes on.  And you loved everyone back.  Your only fault was that you loved to kiss but you weren't a cuddler.  I'm not a touchy feely person, but you brought that out in me.  Oh well, you can't have it all.

Our time is up.  I had to let you go.  I didn't want to but your body is finished.  My final good-bye were those words I used to say all the time.  I probably didn't say it much as the years went on, but my last words through my tears were "You were made for me."  I promise you this, I will never forget you.  My Tribute Blog

Judy Orr Classic Realty Group 15545 S. 71st Ct. Orland Park, IL, 60462 US	Work: 708-536-8200 Fax: 708-249-0074 Chicago Suburbs Real Estate