While out running errands this morning I was listening to the local news radio station WBBM 780 in Chicagoland and heard a report from the National Association of Realtors, stating that the July 2008 home sales were up 3.1% over the last 5 month period.
Incentives from the Federal Government:
First time homebuyer tax credit and lower selling prices were certainly part of the catalyst for this behavior. (I would think)
First time home buyers remain an important part of getting our economy back in place: Purchasing a home keeps less inventory on the market (possibly driving up the price on very desirable homes) lenders in business, insurance companies who write the home owners policies, gas co, electric co, phone companies, cable companies, etc. all benefit from home sales. The economy benefits when people are working and without purchases and sales, in all sectors, we will continue to be on the down turn. On the other hand, many first time homebuyers are holding off to see how low it will go... Lending institutions change their programs and requirements almost daily it seems, so I don't feel that this is a good idea.
Listed below are the changes in the Carol Stream market for the July 2008 period:
- SINGLE FAMILY HOMES 7 CLOSED IN JULY 2008
- SINGLE FAMILY HOMES 7 UNDER CONTRACT IN JULY 2008
- SINGLE FAMILY HOMES 38 WERE LISTED IN JULY 2008
- ATTACHED HOMES 2 CLOSED IN JULY 2008
- ATTACHED HOMES 13 UNDER CONTRACT IN JULY 2008
- ATTACHED HOMES 42 WERE LISTED IN JULY 2008
If your search for a home brings you to the Carol Stream area or surrounding suburbs please contact me for further information: If you find yourself in need of assistance regarding the payment of your current mortgage or are seeking information on any real estate needs, please don't hesitate to contact me - either by phone or email
630-975-0615 Laura Resnick Cell Phone
www.HomesInCarolStream.com
This information certainly suggest that the properties available in Carol Stream are abundant and a perfect location to look for your new home. All information is obtained through the MORE multiple listing service and is deemed reliable. All information should be verified for accuracy.
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