For all intents and purposes, the Joliet real estate market is a buyer's paradise. As of this afternoon, there are 937 detached single family homes and 241 attached single family homes on the market. And this is in a city of approximately 110,000 people. Lots of choices out there!
Day after day the news sources, be it print, TV, radio or web, broadcast the fact that the Chicago metro and suburban areas are in the midst of a buyer's market. Gone are the days of quick sales, a dozen offers and closing prices well over asking. . . .or are they?
I am working with a young teacher who is buying her first home. She is being level headed in her approach to home-buying and we have been searching in a price range that is comfortable for her, below what she is able to be approved for. The homes available in her target price range are small single family homes, two or three bedrooms, some on a slab, a few older ones have basements. She wants a nice yard and ideally an attached garage, but overall she is open to the possibilities. We toured approximately 20 homes and selected a few for her parents come and see.
In the week before their arrival a new listing became available in a quiet and conveniently located neighborhood. It was priced extremely well and I thought it was wise for us to go see it. When I scheduled a showing, the home had been on the market 4 days and had 9 showings already.
I am very familiar with the neighborhood and knew this home was priced easily $15-$20,000 below the average for the area. The pictures didn't make it look like a fixer upper, but I wouldn't know until we walked inside. Indeed the opposite was true. This appeared to be a well-maintained home with a number of lovely updates. My client loved it (and so did her folks) preapproval letter in hand, we wrote an offer.
Luckily we were the first offer in, another followed quickly. . .
The moral of the story. . . even in a buyer's market, sellers can compete by pricing their home right!
*************************************************************
Contact Lori Gilmore, Realtor®, Radcliffe Realty at 815-207-9703 to list your property for sale or to buy a home, condo or investment property inJoliet, Plainfield, Crest Hill, Shorewood, Lockport, New Lenox or elsewhere in Will County, Illinios.
Please visit JolietHomesOnline.com to find out more about the services I offer. . . or give me a jingle. . . I'd love to chat about your real estate needs.
Copyright(c) 2008 by Lori Gilmore. All Rights Reserved.
Comments(5)