Admin

413 Prairieview Dr., Oswego, IL - Sold in 2 Days!

By
Managing Real Estate Broker with Heart Realty Group, Inc.. IL-471.002355

People always ask "How's the Market" whenever they find out that you are a real estate broker.   It's hard to answer  with so many experts saying things like - don't buy now - wait for interest  rates to go down,  best time to buy, and similar advice from one end of the spectrum to another.

The reality is that the time to buy a home or invest in home varies depending on the individual and their current life style, financial condition, marital status or simply just life!  Just as "there's a home for every buyer" and  "Home  is where the Heart" is and other such quaint sentiments buying a home is not only a large financial commitment but an emotional commitment.

Unlike other "assets" its not cut and dry.  

For instance - my latest "Sold" listing has/had a lot of potential!  In an established neighborhood close to the Village downtown and minutes from strip malls that had everything from a 7/11 style pantry, several restaurants within minutes of the home, an Ace Hardware, doctor, dentist etc. and even a gaming/slot business.  It was close to parks, biking/walking trails with easy access to several major transportation areas - 3 major interstates and some of the most heavily traveled routes to surrounding towns.   The downside - it was mostly original with only some updates (windows, HVAC and some appliances) so needed someone that could deal with doing a renovation that was more than cosmetic.   

With limited inventory I figured it would take at least 7 days to get offers.  Boy was I wrong!  Within 15 minutes of going "live" on my MLS I had a showing request which turned into a full price offer ($239,900)!  Oh, did I mention it was CASH!  So long story short, it closed a few days before my birthday (St. Patty's Day) on 3/15/23.

In today's market with higher interest rates than we have seen in several years after people refinanced to low mortgage rates which more than likely we  may not see in my lifetime again under 4% current rates, the higher rates (6% - 7%) stopped most buyers.   Only the most motivated buyers are out in this Spring market!

Yet here we are - with national stats from last year stating that  1/3 of homebuyers  paid cash last  year  for their homes.  So how's the market in your neck of the woods???  What are you seeing that catches you off guard?  

Looking in the western suburbs of Chicago to sell or buy a home?  Give me a call and let's see how we  can assist you in finding the right home for you in this challenging real  estate market! 

 

 

Posted by

Evelyn Santiago

Managing Broker/Owner - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

 

Hi,

Enjoyed your blog page, and I added you as a friend. I would love the follow back. Bill

Mar 20, 2023 02:11 PM
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

Thanks Bill for your comment.  Hope the Chandler market is just as hot!

Mar 20, 2023 02:25 PM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Evelyn Santiago, Managing Broker Heart Realty Group, Inc. that is what I call a super fast sale.  Congratulations.

Mar 20, 2023 03:24 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Congratulations on another sale Evelyn. You're having another outstanding month. Keep the momentum going!

 

Mar 25, 2023 11:13 AM