The other day I was showing homes to a very nice lady in Eagle Brook subdivision in Geneva, IL. It's a beautiful golf course community and we were having fun, discussing decorating, size of rooms, views of the golf course, etc. Then the dreaded subject of MARKET CONDITIONS came up. She had a discussion with an attorney the day before and he stated the Realtors had driven up the prices in the last few years. I have never heard anything so stupid! Would he then say Realtors drove down prices this past year in Geneva, IL? Thanks to the media there are so many misconceptions that have to be addressed every day in my profession.
Prices are really set by the simple Law Of Supply & Demand. A professional Realtor will look at all the information available to them and suggest a price for your home. It is not an exact science. There are 3 reasons a home does not sell. 1. Price 2. Condition of the home 3. Location This always applies whether it is a "slow market" or a "fast market".
We are very lucky to live in the Chicago area where we don't have the huge swings that are happening in other parts of the country. Homes have appreciated nicely. The other day I went back through the MLS archives to the year 2000 and compared prices to 2007. I'll be posting some of the results later this week so that homeowners can delight in the wise decision to purchase a home. I will guarantee if you purchase a home in the year 2008 & look forward to the year 2015 you'll be glad you bought in 2008!
If you would like further information on Kane County or Geneva, IL don't hesitate to call me at 630-386-2900 or e-mail me at Kathleen-robertson@sbcglobal.net.
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