When the dust settles on the Spring Chicago area market - median home prices in most places will be down compared to the previous year, but single-family home sales may be up (though inventory is still high.)   Chicago area home buyers are coming out of the woodwork.  I haven't been this busy since 2005....

I am seeing a lot of first-time home buyers who have been on the sidelines for a while ready to make a move.  95% of my business is first time home buyers. 

Yesterday - I talked to an agent-friend in Florida who said the same thing.  During the past few weeks - buyers are coming out of the woodwork...

The Chicago area buyers that study the market are ready to jump at a good deal. Homes that are well kept in nice locations are selling quickly, if priced appropriately. In other cases - banks are dropping their prices quite a bit on their bank-owned properties -- sometimes 30k in one day on homes priced in the 200's.  Then - buyers swoop in and multiple offers ensue. 

The buyer with the best offer get the deal.   In some cases - Chicago area buyers are bidding above the newly dropped list - in order to ensure that they get the place - but they still get a good price on the property.  

During the past week - I've been swamped with buyer prospects knocking at our door.  We interview them to determine if we'd like to work with them - and it also gives them an opportunity to ask questions of us. 

We only work with buyers who are ready to purchase in the next 60 days - who have good credit - and who have enough for at least an FHA Downpayment.    It's a great spring market here in the Chicago area!    I haven't posted as frequently on Active Rain - since I've been so darn busy!

Have a great spring!  Beautiful day outside today and - another closing for a Chicago suburb buyer client who got a great deal on a bank owned property.