Where are all the buyers?
That's exactly what I'm hearing constantly from the sellers in the Northwest Suburbs of Chicago. Homes that should have 6 showings a week, have only 4 showings this month.
a. Are the potential buyers scared that the market is still going to get worse? b. Are the potential buyers renting instead of buying? c. Are the potential buyers trying to sell their homes first? d. Are the potential buyers afraid to put their home on the market for fear they can't sell e. Do the potential buyers want to buy but they can't qualiy to obtain mortgages f. all of the above.
If you answered f you are correct!
Yesterday alone, I received 2 calls and 3 email leads all from transferees looking for homes. I was so excited when I answered the phone or checked my email, just hoping that one of these leads would want to see one of my listings for sale. Unfortunately, not one of the leads wanted to buy- all of them wanted to rent either my townhome for rent at $2000, other townhomes in the area. or my spectacular ranch on the pond for over $5000 a month. Don't get me wrong, I love working with rental clients.
Due to the lack of actual buyers, last month in Long Grove, only 6 homes closed. Note the discrepency between the listing price and the selling price. This means that the buyers who were looking got an unbelievable deal. Buyers... if you are out there, you too can find an unbelievable house for an unbelievable prive.
If you do the math the most expensive house in Long Grove sold at 61 percent of the original asking price.
So if you buyers are out there, why aren't your buying? Is it one of the reasons listed above? This is the strongest Buyers Market to hit the Chicagoland area in at least 20 years. Don't wait anymore! In my opinion, You are missing your best opportunity to buy a home in at least 20 years! Currently, there are 123 homes in Long Grove to choose from.
Long Grove Closings May 2008
|Street Number||Street Name||Listed Price||Sold Price||Total Rooms||Bedrooms||Baths|
If you want more information regarding specific real estate sales in the Buffalo Grove, Long Grove, and Lincolnshire area, please do not hesitate to call me at 847-602-5435 or email me at email@example.com I am available 24/7 to make appointments! I also specialize in Luxury homes. Check out my new relocation website at www.buffalogroveareahomes.com