Market Update Fox Valley-October 13 2018
Market Update Fox Valley-October 13 2018. New listings this week were pretty consistent with last week. 277 this week compared to 273 last week. We love consistency! Come on buyers there is still homes to look at that you have not seen yet.
Closed listing were down this week. 144 this week compared to 188 last week. Homes closing right now went pending right as school was starting and there was a slow down then. They should pick up as we head into the end of the month.
Take a look at the communities with the most activity this week:
Aurora-New 45 $104,500-$575,000 Closed-20 $117,000-$440,000
Batavia-New 14 $195,000-$595,000 Closed-1 $323,000
Bolingbrook-New 20 $149,900-$420,000 Closed-10 $159,300-$298,000
Geneva-New 11 $200,000-$1,295,000 Closed-5 $275,000-$635,000
Montgomery-New 12 $154,900-$329,900 Closed-7 $143,000-$217,000
Naperville-New 40 $230,000-$999,900 Closed-24 $250,000-$1,330,000
Plainfield-New 52 $189,900-$799,000 Closed-22 $158,000-$874,228
St Charles/Campton Hills-New 26 $169,900-$750,000 Closed-11 $179,000-$580,000
This is the first time that I have seen Aurora & Plainfield have more new listings than Naperville.
Contracts Accepted this Week
Contracts accepted this week were down. 172 this week compared to 207 last week. Price adjustments might need to be made to get things moving again. Take a look to see if there is anything that you can spruce up.
Take a look at the communities sellers accepted the most contracts this week:
Aurora-24 Bolingbrook-17 Naperville-35
Naperville was still ahead with accepting the most contracts this week.
Short sales are staying consistently low. 2 this week compared to 5 last week. This is great to see them staying so low. Now they will be submitted to the lender to see if they will also accept the contract as written.
Sellers accepted contracts that are contingent on the buyers home closing before purchasing. 8 with a kick-out clause of 72 hours and 8 with 48 hours.
Contracts were also accepted that are contingent on the buyers home selling and closing before purchasing. 1 with a kick-out clause of 72 hours and 3 with 48 hours.
Call us at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. Our goal is to negotiate price and terms that are best whether buying or selling a home. We are here to answer all of your real estate questions.
Let us update the value of your home in the current market and provide you with a net proceeds so you have an idea of expenses and what you might walk away with. We will update this when an offer comes in and we know all the terms so you can make an informed decision. We will let you know what you need to do to get it market ready.
If you are thinking about purchasing a home you might want to take a look at the different types of loans and the process so when you talk to a loan officer to get pre-qualified you will be ready with any questions that you have. After they pre-qualify you and let you know the range and what type of loan will work best for you they will provide you with a letter. That letter will go with an offer when you find the right home for you. Sellers want to see that letter before they will commit to negotiate.
Are you a Veteran? You might want to take a look at the requirements and process of getting a VA loan.
Take a look at current interest rates. You will want to keep an eye on them. One thing about the economy improving it causes interest rates to rise. Your credit score will determine what interest rate you are offered.
Down payment resources is something everyone should check out. Especially if you are a police officer, teacher or veteran. Illinois and some communities also offer assistance. You will want to check out the community website that you are looking to move to.
Market update Fox Valley-October 13 2018. Have a great week!
Kristine Heiman-Managing Broker
Best Homes Fox Valley-Search for a home today!
1444 N Farnsworth Ave, Suite 104
Aurora, IL 60505