Elmhurst IL Real Estate

Creating Real Estate Investors!

Wed, 11 Feb 2009 21:14:05 -0600

I found a great bank owned property that was available for less than half of the market value and even with some improvements it still should sell for double the investment. Once I found the opportunity, I began to talk to my previous clients, friends, family and eventually everyone I know. I ended up showing it to eight people and am expecting at least one offer on it.

Four of the people who viewed the property became active buyers (These people where not in the market at the time). I have shown this small group of investors other undervalued opportunities and I am expecting another offer this week. All of the buyers have committed to listing with me when they have made their improvements.

All of this started with a good opportunity and some phone calls.

Opportunities and buyers are out there. So here is my suggestion:

1. Find a good opportunity, not just something below market value. Find something that could turn a profit for someone!

2. Call everyone you know and tell them about it. Some of the people I called where not interested, but they gave my info to their friends.

3. Show the property to those who have an interest.

4. Whether you write or not, you will have a nice group of buyers that will be excited about the market just in time for the spring market.

One more thing...there is nothing wrong with finding one for yourself.

This is a great way to your year off and running!

Good luck and happy selling!

Elmhurst Real Estate Market - It is not what you think!

Wed, 11 Feb 2009 15:56:02 -0600

Property values in Elmhurst, IL, are still better than 3 years ago. The data covers the last 4 years and shows that although the number of homes sold is down, the values are actually 15% higher than in 2005. The chart below shows the decline in detached single family homes sales from 2005-2008.

It is true, Elmhurst has shown declines in the number of homes sold. As a percentage, home sales are down about 22.4% during this period. Below you will see what has happened to local home values over this same period of time.

This graph shows the average price of homes sold in Elmhurst in the same time frame. Notice that the price in 2008 was almost $66,000 more than the prices three years ago and the prices actually spiked around $100,000 from 2005 to 2006 and remained there in 2007. The prices did fall in 2008 by about $42,000, but the only people that would have been affected significantly would be buyers in 2006 and 2007 who sold in 2008.

Consult your Elmhurst Realtor to get an accurate home valuation.

This information was obtained from the Multiple Listing Service of Northern Illinois and the Mainstreet Organization of Realtors. The data is considered to be accurate, but not guaranteed. The search included only detached single family homes.

Credit Card Tips from the Military

Wed, 11 Feb 2009 12:06:56 -0600

I received this link from a friend about secrets the banks do not want you to know regarding credit cards. Some of these practices I was not aware of and I am sure that many others are not. I just wanted to get this out there and hope it helps some of you.

The information is provided by the Millitary Spouse Career Center on Military.com and describes the problems followed by solutions. The article is titled, "10 Secrets Banks Don't Want You to Know About Credit Cards."

Woodridge Real Estate Values - 2nd Quarter Comparisons

Tue, 19 Aug 2008 15:01:09 -0500

The number of homes sold in Woodridge have continued to drop, but the home values have grown. A recent multiple listing search for the 2nd quarter numbers ranging from 2005-2008 show that the home values in Woodridge, IL, have increased over 2005 numbers.

The graph above shows the decreases in the number of homes sold in Woodridge over the 2nd quarters of 2005-2008. The number of homes sold is down about 35% compared to 2005 and have been on a steady decline.

This bar graph shows what has happened to the home values over the same periods. Here you can see the growth over 2005-2007 mentioned earlier. Notice that even though the prices dropped this year the home values are still above 2005 by about $25,000 (about a 8.2% increase in value over 3 years). In 2007 there was a spike in value, but unless you bought in 2007 and sold this year it would not have affected your pocket book.

The national media has stated that the housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Woodridge. The prices actually peaked last year and began to decline this year. The good news is that home values are still up in Woodridge over the last few years, regardless of what has been happening on the national level.

If you would like an accurate home valuation or are looking to buy a home, contact your DuPage Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The search included average prices of detached single family homes only.

Glen Ellyn Real Estate Values - 2nd Quarter Comparisons

Tue, 19 Aug 2008 14:28:56 -0500

A Multiple Listing search for Glen Ellyn, IL homes shows that even though the number of homes sold has decreased significantly, the home prices have remained about the same as in 2005. The information was based on 2nd quarter numbers for 2005-2008.

The bar graph above shows that the number of homes sold is down by about 41% compared to 2005. Notice that the number of homes sold remained relatively constant from 2005-2007, but this year there has been a significant decrease.

This graph shows the 2nd quarter prices in Glen Ellyn are about the same as in 2005. There was just a slight decrease of about $1,000 over 3 years. Notice that the prices actually climbed in 2006 and 2007 (a very big spike in 2007). Yes, the prices have decreased this year, but unless you bought in 2006 or 2007 and sold this year it would not show up in your pocket book. The good news is that Glen Ellyn home values have not been hit nearly as hard as many other parts of the nation.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your Glen Ellyn Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The search included only average prices of detached single family homes.

Lisle Real Estate - 2nd Quarter Comparisons

Tue, 19 Aug 2008 14:08:12 -0500

A Multiple Listing search for Lisle, IL homes shows that even though the number of homes sold has decreased significantly, the home prices have remained about the same as in 2005. The information was based on 2nd quarter numbers for 2005-2008.

The bar graph above shows that the number of homes sold is down by about 37% compared to 2005, but as you see below the prices have remained about the same.

This graph shows the 2nd quarter prices in Lisle are about the same as in 2005. There was a huge spike in value in the 2nd quarter of 2006, but for the most part the value has remained level. You can see there was an slight decrease of about $10,000 or about 2.8% verses 2005. That is less than 1% per year! Fortunately, the Lisle home values have not been effected as significantly as many other areas in the nation.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your DuPage County Realtor.

Villa Park Real Estate - 2nd Quarter Comparisons

Tue, 19 Aug 2008 13:49:58 -0500

Home sales and home values in Villa Park, IL, have declined compared to 2nd quarter numbers over the last 4 years. The number of homes sold is down by more than 70% since 2005. The values have fallen by about $28,000 or roughly 10% since 2005. The graph below shows the decreased home sales.

Here, you can see the decline in the number of homes sold in 2nd quarters over the last 4 years. The most recent quarter was nearly 72% fewer homes sold versus 2005. The graph below shows the home values during the same periods.

Here you can see that the values actually gained in 2006-2007, but have fallen significantly in 2008. There have been some foreclosures and short sales that have hurt the prices this quarter. Realize that these are only 2nd quarter numbers and there was only 30 homes in this period. If the number of homes sold begin to increase, you can anticipate a rebound in home values.

If you would like a receive an accurate home valuation or are planning to buy a home, contact your Villa Park Realtor.

Glendale Heights Real Estate - 2nd Quarter Comparisons

Fri, 08 Aug 2008 13:09:55 -0500

Home sales and home values in Glendale Heights, IL, have been on the decline. The number of homes sold is down by more than 50% since 2005. The values have fallen by about $29,000 or roughly 11.5% since 2005. The graph below shows the decreased home sales.

You can see the decline in the number of homes sold in 2nd quarters over the last 4 years. The most recent quarter was approximately 54% fewer homes sold versus 2005. The good news here is that there was an increase in the number of homes sold this year compared to last year. The graph below shows the home values during the same periods.

Here you can see that the values remained relatively level in 2005-2007, but have fallen significantly in this period. There have been some foreclosures and short sales that have hurt the prices this quarter. Realize that these are only 2nd quarter numbers and there was only 41 homes in this period. If the number of homes sold continues to increase, we can anticipate some gains in home values.

If you would like a receive an accurate home valuation or are planning to buy a home, contact your Dupage Realtor.

Downers Grove Real Estate - 2nd Quarter Comparisons

Wed, 06 Aug 2008 18:42:38 -0500

A Multiple Listing search for Downers Grove homes shows that even though the number of homes sold has decreased significantly, the home prices have remained about the same as in 2005. The information was based on 2nd quarter numbers for 2005-2008.

The bar graph above shows that the number of homes sold is down by about 42% compared to 2005, but as you see below the prices have remained about the same.

This graph shows the 2nd quarter prices in Downers Grove are about the same as in 2005. Actually, there was an increase of about $10,000. Notice that the prices climbed in 2006 and 2007 during the national housing crisis where many areas of the country have lost a great deal of value. Yes, the prices have decreased this year, but unless you bought in 2006 or 2007 and sold this year it would not show up in your pocket book.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your DuPage County Realtor.

Darien Real Estate Values - 2nd Quarter Comparisons

Wed, 06 Aug 2008 18:22:32 -0500

Home sales and home values in Darien, IL, have been on the decline. The number of homes sold is down by more than 50% since 2005. The values have fallen by about $75,000 or roughly 18.5% since 2006. The graph below shows the decreased home sales.

You can see the steady decline in the number of homes sold in 2nd quarters over the last 4 years. The most recent quarter was approximately 51.5% fewer homes sold versus 2005. The graph below shows the values during the same periods.

Here you can see that the values remained level in 2005-2006, but began to decline in 2007 and have continued into 2008.

Realize that these are only 2nd quarter numbers. Annual numbers in 2005 compared to 2007 show that the prices were only down about $9,000 or about 2.25%. If you would like a receive an accurate home valuation or are planning to buy a home, conatact your Dupage Realtor.

Credit Card Tips from the Military

Mon, 04 Aug 2008 16:18:03 -0500

Tips about handling credit cards

Mon, 04 Aug 2008 16:15:12 -0500

Carol Stream Real Estate Values - 2nd Quarter Comparisons

Tue, 29 Jul 2008 13:55:59 -0500

A Multiple Listing search for Carol Stream homes shows that even though the number of homes sold has decreased significantly, the home prices have remained about the same as in 2005. The information was based on 2nd quarter numbers for 2005-2008.

The bar graph above shows that the number of homes sold is down by about 61% compared to 2005.

This graph shows the 2nd quarter prices in Carol Stream are about the same as in 2005. Actually there was a slight increase of about $1,800. Notice that the prices actually climbed in 2006 and 2007. Yes, the prices have decreased this year, but unless you bought in 2006 or 2007 and sold this year it would not show up in your pocket book.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your Carol Stream Realtor.

Clarendon Hills Real Estate Values - 2nd Quarter Comparisons

Mon, 28 Jul 2008 19:01:28 -0500

Clarendon Hill's 2nd quarter home sales have continued to drop, but the values have grown.

The graph above shows the decreases in the number of homes sold in Clarendon Hills over the 2nd quarters of 2005-2008. The number of homes sold is down about 60% compared to 2005, and about 30% less than last year. The home sales for the 2 years prior remained relatively level, but this year has shown another decrease.

This bar graph shows what has happened to the home values over the same periods. Here you can see the growth over 2005-2007 mentioned earlier. You can see this year's 2nd quarter numbers are still above 2005 by about $101,000 (about a 15% increase in value over 3 years) and a slight increase over 2006 by about $5,000. In 2007 there was a spike in value, but unless you bought in 2007 and sold this year it would not have effected your pocket book.

The national media has stated that the housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Clarendon Hills. The prices actually peaked last year and declined this year. The good news is that home values are still up in Clarendon Hills over the last few years, regardless of what has been happening on the national level.

If you would like an accurate home valuation or are looking to buy a home, contact your Clarendon Hills Realtor.

Burr Ridge Real Estate Values - 2nd Quarter Comparisons

Mon, 28 Jul 2008 18:33:23 -0500

Burr Ridge's 2nd quarter home sales have continued to drop, but the values have grown.

The graph above shows the decreases in the number of homes sold in Bloomingdale over the 2nd quarters of 2005-2008. The number of homes sold is down about 68% compared to 2005, and about 46% less than last year. The home sales for the 2 years prior remained relatively level, but this year has shown another decrease.

This bar graph shows what has happened to the home values over the same periods. Here you can see the growth over 2005-2008 mentioned earlier. You can see this year's 2nd quarter numbers are still above 2005 by about $48,000 about a 5.4% increase in value over 3 years. In 2006 there was a spike in value, but unless you bought in 2006 and sold this year or last year it would not have effected your pocket book.

The national media has stated that the housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Burr Ridge. The price actually peaked in 2006 and have rebounded some since 2007. The good news is that home values are up in Burr Ridge regardless of what has been happening on the national level over the last few years.

If you would like an accurate home valuation or are looking to buy a home, contact your Burr Ridge Realtor.

Bartlett Real Estate Values - 2nd Quarter Comparison

Mon, 28 Jul 2008 18:11:14 -0500

A Multiple Listing search for Bartlett homes shows that even though the number of homes sold has decreased significantly, the home prices only declined minimally since 2005. The information was based on 2nd quarter numbers for 2005-2008.

The bar graph above shows that the number of homes sold is down by about 53.5% compared to 2005, and down about 25% since last year .

The graph above shows the 2nd quarter prices in Bartlett are down a little since 2005. The decrease is just about $13,500 and as a percentage the drop is around 4%. The decrease in only about 1.3% annually which is relatively minimal compared to the national numbers.

Although the national media has beating up the real estate industry for the last couple of years with talks of huge losses, Bartlett real estate has not lost any significant value over this period of time. From this data there would only be significant losses if someone purchased last year and sold this year.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your Dupage County Realtor.

Bloomingdale Real Estate Values - 2nd Quarter Comparisons

Mon, 28 Jul 2008 17:33:16 -0500

Bloomingdale's 2nd quarter home sales have continued to drop, but the values have grown.

The graph above shows the decreases in the number of homes sold in Bloomingdale over the 2nd quarters of 2005-2008. The number of homes sold is down about 58% compared to 2005, and about 54% less than last year. The home sales for the 3 years prior remained relatively level, last year a slight drop, but this year has shown a significant decrease.

This bar graph shows what has happened to the home values over the same periods. Here you can see the growth over 2005-2007 mentioned earlier. You can see this year's 2nd quarter numbers are still above 2005 by about $33,400 (about an 8% increase in value over 3 years) and a slight increase over 2006 by about $8,200. In 2007 there was a spike in value, but unless you bought in 2007 and sold this year it would not have effected your pocket book.

The national media has stated that the housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Bloomingdale. The good news is that home values are up in Bloomingdale regardless of what has been happening on the national level.

If you would like an accurate home valuation or are looking to buy a home, contact your Bloomingdale Realtor.

Addison Real Estate Values - 2nd Quarter Comparisons

Mon, 28 Jul 2008 16:31:33 -0500

Addison's home sales have continued to drop, but the prices were growing moderately until the 2nd quarter of 2008. The homes had continued to grow in value over the last 3 years even with the national media talks of bursting bubbles. Now, with national talks of bottoming real estate prices and a beginning of a rebound Addison finally shows decreases.

The graph above shows the decreases in the number of homes sold in Addison over the 2nd quarters of 2005-2008. The number of homes sold is down about 56% compared to 2005, but only about 17% less than last year.

This bar graph shows what has happened to the home values over the same periods. Here you can see the moderate growth over 2005-2007 mentioned earlier. Unfortunately, this year's 2nd quarter numbers are down about $38,000 or about 11.8% compared to 2005.

The national media has stated that the national housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Addison. The prices peaked in 2007 and began to decrease this year. If you would like an accurate home valuation or are looking to buy a home contact your Addison Realtor.

Elmhurst Real Estate Market - 2nd Quarter Comparison

Wed, 16 Jul 2008 16:03:24 -0500

A Multiple Listing search for Elmhurst homes shows that even though the number of homes sold has decreased, the home prices have remained about the same as in 2006. The information was based on 2nd quarter numbers for 2006-2008.

The bar graph above shows that the number of homes sold is down by about 17.5% compared to 2006.

The graph above shows the 2nd quarter prices in Elmhurst are about the same as in 2006. The decrease is just over $8,800 and as a percentage the drop is only 1.7%.

Although the national media has beating up the real estate industry for the last couple of years, Elmhurst real estate has not lost any signicant value over this period of time. From this data there would only be significant losses if someone purchased last year and sold this year.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your Elmhurst Realtor.

Addison Real Estate - 1st Quarter Comparisons

Wed, 02 Apr 2008 12:27:11 -0500

The Addison real estate market is off to a slow start this year. The number of homes sold is down 68% from the first quarter of 2006 and down about 44% from 2007. Fortunately, the prices have remained about the same as last year and around 6.6% below 2006 numbers.

This graph shows the first quarter numbers from 2006 to 2008. You can see there is significant decrease in first quarter demand over the last couple of years.

Here you can see the prices over the same periods. The last two years are nearly the same even with the decrease in demand. These are only first quarter numbers and should be viewed with some care.

If you look at 12 month increments over the last 3 years the prices have actually increased. To get an accurate valuation of your home or if you are considering buying soon, contact your Addison Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The data represents sold detached single family homes only.

Wood Dale Real Estate - 1st Quarter Comparisons

Tue, 01 Apr 2008 16:54:08 -0500

A recent Multiple Listing home search for Wood Dale, IL, shows that the number of homes sold has increased in the 1st quarter of 2008 verses 2007 and is only about 24% less than in 2006. See the graph below.

Comparing the first quarters of 2007 and 2008 we can see that the number of homes sold has doubled.

As this graph shows, the value in the first quarter of 2007 spiked, but may be scewed since there were only 8 properties sold in that period. To get a more complete view of the Wood Dale market take a look at the annual numbers from March 2, 2008 dating back 3 years. If you compare the annual numbers to the 1st quarter of this year the values are about the same as 25-37 months ago, but a quarterly value is only a small segment.

The point here is that there has been a nice increase in the number of homes sold in the first quarter and if this continues throughout the year the home values could increase as well. To get an accurate valuation of your Wood Dale home or if you are considering buying soon, contact Richard Parr, Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The data included only detached single family homes.

Villa Park Real Estate - 1st Quarter Comparisons

Tue, 01 Apr 2008 15:07:03 -0500

A Multiple Listing search of Villa Park, IL, today shows that the number of homes sold is still declining and the prices in the first quarter of 2008 took a big hit. This may be the bottom so many have been looking for, since it seems like both Lombard and Elmhurst have begun to turn the corner. The graph below shows the 1st quarter results from 2006-2008.

The 1st quarter decrease in homes sold is down almost 50% over 2006, but only 25% over last year. Elmhurst sales are about the same as last year and Lombard sales are up 14% over the 2007's numbers over the same periods.

This graph shows that there was a slight spike in value from 2006 to 2007, but the prices took a big hit in the current quarter of almost $40,000. This is almost a 13.7% decline in value over last years quarterly numbers and around a 11.4% decrease over the 2006 numbers. This is not good news for those homeowners who wish to sell this year, but the rebound appears to be coming soon.

Elmhurst values increased about $4,300 more than 2007 prices and Lombard's values increased about $18,000 or 5.9%. With two bordering towns showing signs of life, it may not be long before Villa Park begins to increase as well. If you would like to receive an accurate valuation of your property, or you are considering buying soon, contact your Villa Park real estate agent.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The data included detached single family homes only.

Lombard Real Estate Market - 1st Quarter Comparison

Tue, 01 Apr 2008 14:30:56 -0500

A Multiple Listing search for Lombard, IL, today, shows that even though the number of homes sold has dropped the last couple of years. The first quarter of 2008 home sales have increased over 2007 and home values have rebounded as well. If you were waiting for the (national media's) bottom, you may have missed it.

The number of homes sold in the first quarter of 2008 are up 8 units, compared to 2007. That is an increase of around 14%. This may be a sign that there will be more homes sold in Lombard this year compared to last year. This should have a good impact on the home values as well.

This graph shows the mean price of homes sold in the same time frames. The 1st quarter of 2007 verses the 1st quarter 2008 is up almost $18,000. As a percentage that is a gain in value of just over 5.9% and the current value is nearly the same as in the 1st quarter of 2006.

Keep your eyes on the Lombard prices not the national numbers. The local numbers are truer indicators of what your home is worth. If you would like an accurate home valuation, or you are considering buying a home contact your Lombard Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The data presented is of detached single family homes only.

Elmhurst Real Estate Market - 1st Quarter Comparison

Tue, 01 Apr 2008 13:22:48 -0500

A Multiple Listing search for Elmhurst, IL, homes, today, shows that even though the number of homes sold is still down, the home prices are beginning to climb. The information was based on 1st quarter numbers for 2006-2008.

The bar graph above shows that although the number of homes sold are down about 22%, the last two years are nearly the same. This could suggest that the demand for homes in Elmhurst is stabilizing.

The graph above shows the prices in Elmhurst have increased just over $4,300 in the 1st quarter of 2008 over 2007. Compare that to 2006 and see that the prices are only down about $3,400 from where the values were three years ago. As a percentage the difference is quite minimal at about 0.6% (six tenths of one percent).

The information shows that even though the national media is talking about doom and gloom, the Elmhurst real estate market is already showing signs of stabilizing sales and increasing prices. If the 2008 demand stays around the 2007 numbers or increases over the course of the year we may see more increases in home values.

If you would like to receive an accurate valuation of your home, or would like to buy soon contact your Elmhurst Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The search included only detached single family homes.

Lisle Real Estate - Home Values are Higher than 2005

Mon, 17 Mar 2008 21:27:27 -0500

Property values in Lisle, IL, have increased since 2005. The data covers the last 3 years and shows that although the number of homes sold is down, the values have actually increased slightly. The chart below shows the decline in detached single family homes sales from 2005-2007.

The data above confirms what the national media has been saying about the real estate market. It IS true, Lisle has shown declines in the number of homes sold just like the rest of the country. As a percentage, home sales are down about 30.5% during this period. Where the news reports make their mistake is with the broad generalizations regarding the home prices. Below you will see what has happened to local home values over this same period of time.

This graph shows the average price of homes sold in Lisle in the same time frame. Notice that the price in 2007 was almost $5,600 more than the prices three years ago and the prices actually spiked around $20,000 in the 2006.

As the national media reports the doom and gloom, the local data shows that the prices are similar to 2005. The reason is that real estate is LOCAL, not national. Each state, county, city, and neighborhood will have varying property values. Consult your DuPage County Realtor to get an accurate home valuation.