Montgomery - Oswego - Yorkville, IL - July Market Stats - Short Sales/Foreclosures Increase!

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Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

With summer almost over lets review what is happening in 3 small villages outside of Aurora, IL....the 2nd largest city in the state.

 2009                     July                         July                    2009                2009

Town                  Single Family   S/F     Attached    S/F     YTDSF    S/F      YTDAF     S/F 

Montgomery              20              8             7            6        133      62         36           23

Oswego                     29             13            8            3        168      63         51           19

Yorkville                    17              6             5            1        111      40         19            9

 Aurora                     119            51           43           17      590       269       236         83

2008                      July                        July                    

Town                 Single Family   S/F     Attached    S/F     YTDSF  S/F  YTDAF  S/F  

Montgomery           23              5               1            1       137     15        31      5

Oswego                 30               1               5            0       184     11        70     4

Yorkville                19               2               5            1       124       8        34     2

Aurora                 121              22            44             7       678       *       346    *

Total 2008                                                                       1108              555

The numbers clearly show that short sales/foreclosures are over 40% of the closed sales in 2009 vs. 2008.  We are behind in actual sales from 2008 but the margin isn't really wide in most cities.  July was pretty close to 2008 volumes. 

The rest of the year should be interesting.  Hopefully, more 1st time home buyers will take advantage of the $8K credit and snatch up some of the good bargains available in short sales and foreclosures.

Become a statistic - Buy a Home in 2009!

 

 

*Separate Indicators for Foreclosure/Short Sales not started until mid-2008

 

 

 

Posted by

Evelyn Santiago

Managing Broker/Owner - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

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Rainmaker
1,283,489
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Evelyn:

Love your statement at the end of your blog ... 

Become a statistic - Buy a Home in 2009!

The stats you gave do not support the "near panic" that we often hear in the media.  Thanks for introducing these stats to the members of AR.  I found them informative ... uplifting ... and beneficial moving forward into the fall sales season.

Best of luck to you during the remainder of '09!

Gene

 

Sep 03, 2009 06:23 AM #1
Rainmaker
323,188
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

Thanks Gene for the comment.  I am glad that someone took the time to read the stats. They say numbers tell a story and they are right!  I am optimistic that we will continue seeing better numbers.  Unfortunately, people believe what the media is saying and are running scare.  I have some buyer leads that are unable to make a decision because they are worried about losing their jobs or are hoping that the market gets worse and prices drop even further.  I guess they have a crystal ball that works better than mine :)

The best to you also in 2009!

Sep 03, 2009 09:04 AM #2
Rainmaker
1,283,489
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Evelyn:  Marketing experts say we should be able to "convert" those people sitting on the fence.  I don't think that is realistic when they are reading the media you described.  There are just some that will never move when they are fearful. 

I, like you, are seeing some signs of improvement and general attitude changes.  I think people want to believe the worst is over and are ready to get back to living "normal" lives.  The media does seem to be relenting on their doom and gloom reports some.  With their help, the upcoming fall and winter will be more positive for all in our industry.  I'm surely ready for that, as I'm sure you are too!! 

I wish you the best moving forward into the fall ...

Gene

Sep 04, 2009 02:20 AM #3
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Rainmaker
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Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
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