Market Update Fox Valley-October 20 2018
Closed listings this week improved. 188 closed homes this week compared to 144 last week. They should improve more next week with the end of the month when most buyers want to close.
Take a look at the communities with the most activity this week:
Aurora-New 41 $89,600-$669,600 Closed-24 $72,000-$365,000
Batavia-New 10 $204,900-$495,000 Closed-3 $160,500-$950,000
Bolingbrook-New 13 $164,000-$429,000 Closed-20 $145,000-$384,000
Geneva-New 18 $229,900-$910,000 Closed-8 $245,000-$745,000
Naperville-New 57 $229,900-$1,710,000 Closed-31 $230,000-$1,299,150
Oswego-New 7 $165,000-$399,900 Closed-10 $169,900-$497,975
Plainfield-New 39 $150,000-$799,000 Closed-16 $150,000-$475,000
St Charles/Campton Hills-New 15 $98,000-$799,000 Closed-14 $212,000-$755,000
Contracts Accepted this Week
Contracts accepted this week by Seller’s were higher this week. 192 this week compared 172 last week. Happy to see more Buyer’s out this week looking and making decisions that are agreeable with Seller’s.
Take a look at the communities that Seller’s accepted the most contracts this week:
Aurora-35 Bolingbrook-22 Montgomery-11
Naperville-25 Plainfield-24 St Charles/Campton Hills-11
Short sales this week stayed low. 4 this week compared to 2 last week. Now they will be submitted to the lender to see if they will accept contract as written. This could take a while.
Seller’s accepted contracts this week that are contingent on the Buyer closing on their current home before purchasing. 6 with a kick-out clause of 72 hours, 7 with 48 hours and 1 with 24 hours.
Contracts were also accepted with contingencies on the Buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours, 3 with 48 hours and 2 with 24 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 can update the value of your home in the current market. Provide you with a net proceeds so you can see the expenses and what you might walk away with at closing. This will be updated when an offer comes in and we know all the terms the buyer is requesting.
If you are wanting to purchase a home you might want to take a look at the different types of loans and the process. You will need to contact a loan officer and get pre-qualified. They will provide you with a letter showing what you qualify for and what type of loan. This will go with an offer when you find a home. It needs to be no more than 30 days old or the loan officer will need to update it.
Are you a Veteran? You might want to take a look at the requirements and process for getting a VA loan.
There are many programs out there with help with a down payment and/or closing costs. Illinois and some communities offer down payment assistance. Go to the website of the community you are looking at and see if the offer anything. It doesn’t hurt to look.
You will want to keep an eye on interest rates. You never know when they might change. Your credit score will determine what interest rate you are offered.
Market update Fox Valley-October 20 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