Homes Sold in Buffalo Grove (November 2011)

Buffalo Grove Homes Sold in November 2011

Last month, 14 Buffalo Grove homeowners sold their homes.

2 home(s) sold were Foreclosures.

3 home(s) sold were Short Sales.

156 home(s) are currently available for sale.

Given these statistics, it will take 11 months to sell all homes on the market, not counting other homes coming on the market every day.

Ideally, no home should be foreclosed without putting up a fight first. The consequences of foreclosure can financially hurt people for a decade or more. If you’re upside down on your mortgage and are facing financial difficulties, the only way to save your future is by selling your house as a Short Sale. For more information about Short Sales, please visit Chicago Short Sales. Then call me. I’ve helped other homeowners avoid foreclosure, and I can help you, too.

Following are some of the fabulous homes that sold in Buffalo Grove in November.

Data provided by the Midwest Real Estate LLC and includes properties listed and sold by various participants in the MLS. Some charts powered by 10K Research and Marketing.

Many of the homes sold were for prices considerably below Original List Price.

If a home is overpriced, the market—i.e., homebuyers—will communicate the fact by simply not showing up. A house cannot sell if homebuyers don’t see it. So if homeowners want to sell their house—and what homeowners don’t!—they must meet and beat the competition.

In perfect market conditions,homes should be listed at no more than 3% over fair market value. This leaves enough negotiating room to arrive at sales prices that will meet the expectations of banks and appraisers.

In imperfect market conditions,listing homes below fair market value is often the best way to generate excitement … and possibly set up a bidding war.

When a home is priced right at the outset,it will sell quickly and generally for more money than a house that has languished on the market for months. Homebuyers are discriminating and often understand the market … and market value … better than many homeowners. As a result, they recognize extraordinary value when they see it and will jump at the chance to make an offer.

Unless the list price of a home is in the ‘sweet spot’—the spot at which homebuyers clamor to buy—houses will sit on the market for months, even years.

To compete against all the other houses on the market,your house must show like a model home. However, if your house isn’t in tip-top condition, and you can’t afford the time or money to bring it up to grade, the only way to sell is by attracting ‘value’ homebuyers looking for bargains.

It’s Judy … your North Shore Chicago real estate agent.