I’m tired of the media.  I’m tired of hype and spin that turns out to be nothing at all.  Let’s glamorize a small topic so we get viewers and listeners. 

Our local market conditions in Northwest Chicagoland are often times different from what's happening nationally, so it's best to work with a real estate professional to determine timing, pricing and your homes value.  Illinois' economy continues to expand and home sales are expected to pick up toward the end of the year according to the National Association of Realtors recent market outlook.  But again let’s keep in mind a couple of major points about real estate – all real estate is local.  And the 2^nd caveat is – location, location, location.

People in California are always fighting fires, landslides and their homes value, either up or down.  CALways with the drama!  People in Texas are in the drivers seat, like we were a couple of years ago, they have no slowdown right now.  Not so many years ago I remember you couldn’t give a home away in parts of Texas.  Now it's Yee-haw!  Real estate is a cyclical business just like anything else.  Your stocks don’t stay the same – they go up and down with the market.  Right now that’s what our home prices in the suburbs are doing – a market correction, going up or down or staying the same.  Are you going to loose your shirt?  I doubt it.

Adding more momentum to the media’s spin we have the mortgage market "crisis" or “disaster” in our faces everyday!  Are you even able to afford a home and get a mortgage?  Are they even giving mortgages to other people besides Donald Trump?  The best thing to do is to call a loan officer and find out first hand!  If your goal is to get a home you’re going to have to get financing to get that accomplished (unless you’re the Donald).  The time to start is now!

Not normally a spokesperson for my company (a commercial interruption) but we’ve been doing pretty well in a supposedly tough market place.  According to our MLS stats, RE/MAX is #1 in 256 market share areas in Chicagoland in either in listings sold, sales made or total transactions categories. 

In my small area that I serve, we have had increases in local market share.  Just in the Northwest Suburbs alone we are at 28.3% which is up over 2007 by 1.3%. 

Hoffman Estates market share is up 3%.

Bartlett is up 1%

Streamwood is up 6%

Elk Grove Village is up 1%

Schaumburg is flat with 29% of market share or a very minimal increase.

So despite what the ‘talking heads’ are saying, I believe now is a good time to buy.  Prices in our area are not falling dramatically like some might have you believe.  Again, they are leveling off or having a market correction but your home is still a great value.  Over the years, home ownership has always done better than the stock market in the long haul.  The ‘talking heads’ forget to mention that because there is nothing to sensationalize.  “Jack Hammer on Cement Street just had his home increase 1%” is not going to hit CNN.

So if you have a home to sell in the area, please give me a call.  I would like to work with you and get you on your way to your new location.  Pointing you in a “new direction” is what I do.

If your goal is to buy a home in the area, please give me a call and we will start to see where you qualify and what you can afford.  Pick up that phone, put it too your ear, punch some buttons with the numbers, hit send and we can start the process.  Sorry but the media will not be alerted to the call!

The sky is not falling chicken little ...    

Lyn Sims at RE/MAX Suburban (847)230-7324

Northwest Suburban Homes in Elk Grove Village, Schaumburg, Hoffman Estates, Bloomingdale, Roselle, Hanover Park, Streamwood, Carol Stream, Medinah, Itasca, Bartlett, Elgin, South Elgin, St. Charles.