Market update Fox Valley May 16 2020

Market update Fox Valley May 16 2020.  New listings were very consistent with the week before.  280 new single family homes this week compared to 287 the week before.  This is great news!  We love consistency.

Closed listing this week were slightly higher than the week before.  178 closed single family homes this week compared to 169 the week before.  They should get higher as we head into 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 28 $98,000-$995,000

            Closed-23 $115,000-$431,000

Batavia-New 12 $244,900-$531,995

             Closed-6 $224,000-$492,000

Bolingbrook-New 19 $172,500-$879,900

                    Closed-12 $200,000-$347,000

Geneva-New 14 $282,000-$624,900

             Closed-6 $286,500-$485,000

Montgomery-New 11 $184,017-$327,665

                      Closed-7 $147,000-$250,000

Naperville-New 59 $299,900-$2,500,000

                 Closed-35 $265,000-$1,331,500

Oswego-New 17 $194,900-$675,000

              Closed-9 $179,000-$427,500

Plainfield-New 23 $215,000-$489,000

                Closed-28 $190,000-$557,000

St Charles-New 28 $175,000-$745,000

                 Closed-12 $245,000-$1,175,000

West Chicago-New 10 $169,900-$449,900

                      Closed-1 $375,000

Yorkville-New 10 $229,900-$495,000

              Closed-8 $234,000-$550,000

Contracts accepted this week

Contracts accepted this week were slightly higher than last week.  267 accepted this week compared to 259 the week before.  Buyers are out there and ready to go.  They just need more homes to look at in all the different price ranges.  Inventory remains low.

Look at the communities that sellers accepted the most contracts:

Aurora-40                             Bolingbrook-17

Geneva-12                            Montgomery-12

Naperville-40                        Oswego-18

Plainfield-29                         St Charles/Campton Hills-19

Yorkville-11

2 short sales were accepted this week by sellers.  1 each in Batavia and Sugar Grove.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  13 with a kick-out clause of 72 hours, 13 with 48 hours and 3 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  3 with a kick-out clause of 72 hours, 7 with 48 hours and 4 with 24 hours.

2020 by the month

Month                             New   Closed   Contracts accepted

January                       1,105      566            858

February                     1,267      529         1,024

March                        1,186      707         1,079

April                             648      786             775

May                              821      608             804

May has already gone above April totals.  We are looking at having a great month!   We just need more homes to come on the market.  Buyers are ready to go and are waiting.

Contact us

Call us at 630-503-6555 for all your real estate questions.  Your goal is our goal.  We will do whatever we can to help you reach your goals.

It is very important to keep in contact with your loan officer at this time.  You need to get pre-qualified first before you start looking for homes.  You need to find out what type of loan will work out best for you and what price range.

It is a great time to sell!  Let us update the current value on your home and provide you with a net proceeds that shows you the expenses to sell and see where you are at.  This will be updated when an offer comes in and we know all the terms.

Check out some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some community assistance

Check back with us every Saturday for an update for the week.  At the end of the month we will compare it to the previous 2 years so you can see how things are going.

Market update Fox Valley May 16 2020.  Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

besthomesfv@gmail.com

Market update Fox Valley May 9 2020

Market update Fox Valley May 9 2020. New listings of single family homes were up just shy of 13% this week. 287 this week compared to 254 the week before.

Closed listings of single family homes were down slightly over 35%.  169 this week compared to 261 the week before.  This is due to the beginning of the month and will go up as we get closer to the end of the month when most buyers want to close.

Take a look a the communities with the most activity this week:

Aurora-New 32 $129,900-$675,000

            Closed-25 $74,000-$580,000

Bolingbrook-New 11 $169,999-$498,000

                     Closed-13 $180,000-$521,000

Elburn-New 10 $294,900-$610,000

            Closed-1 $225,000

Geneva-New 16 $185,000-$795,000

             Closed-5 $284,974-$440,000

Montgomery-New 9 $179,900-$294,900

                     Closed-11 $195,000-$349,590

Naperville-New 59 $299,999-$1,695,000

                 Closed-24 $342,000-$818,000

North Aurora-New 11 $225,000-$424,900

                       Closed-4 $190,000-$331,300

Oswego-New 12 $242,000-$449,900

              Closed-9 $224,900-$540,000

Plainfield-New 38 $171,500-$699,800

                Closed-23 $191,000-$512,000

St Charles/Campton Hills- 

                New-31 $259,000-$1,500,000

                Closed-15 $209,000-$735,000

West Chicago-New 10 $229,900-$499,000

                      Closed-2 $238,500-$395,000

Contracts accepted this week

Contracts accepted this week on single family homes was down just under 7% this week.  259 this week compared to 278 the week before.

Inventory of homes that are available is an issue right now.  There just is not enough homes for buyers to go and see.  If you are thinking about selling this year now is the time.

Look at the communities that sellers accepted the most contracts this week:

Aurora-38                           Bolingbrook-20

Geneva-10                          Montgomery-14

Naperville-52                      Oswego-20

Plainfield-31                       St Charles/Campton Hills-14

Yorkville-13

5 short sales of single family homes were accepted by sellers this week.  1 each in Aurora, Bolingbrook, Oswego, Plainfield and Sugar Grove. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  5 with a kick-out clause of 72 hours, 10 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  3 with a kick-out clause of 72 hours and 8 with 48 hours.

2020 by the month

Month                             New   Closed   Contracts accepted

January                       1,105      566            858

February                     1,267      529         1,024

March                         1,186      707         1,079

April                               648     786             775

May                                541     430             537

Some of May’s totals are the last week of April but May still looks like it is going to be a great month.

Contact us

Call us at 630-503-6555 with all of your real estate questions.  Your goal is our goal.  We will do everything we can to help you reach your goal.

Covid-19 has changed how we do business.  We are not allowed to do Open Houses anymore during this time.  Meetings are now happening by Zoom videos.  I am getting used to the Zoom meetings and might keep doing them even after this is over with.  I think they save people time and we can go over everything and answer all of your questions.  We can share documents or the market analysis and go over it with you.

At this time you really need to keep in contact with your loan officer with any changes to the mortgage market.  You need to get pre-approved so you know what type of loan and what price range works out best for you.

If you are selling we can do virtual showings or if you still want to show your home you can give us the instructions you want for people to enter your home.

Home inspections now only want the home inspector in the home and they will give you a report and go over it with you.

Closings if you are the seller you will sign documents most likely ahead of time and not go to the closing.  Some are still going.  Some title companies even have the buyer drive up and they come out with documents to have you sign. Other title companies are still having the buyers come in.

Check out some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance 
• Illinois homeowner assistance and some community assistance

We know you must have a lot of questions on buying and selling a home at this time.  Please let us know the questions you have.  We are happy to explain the process to you and guide you through the process.

Market update Fox Valley May 9 2020.  Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

besthomesfv@gmail.com

          

Market update Fox Valley May 2 2020

Market update Fox Valley May 2 2020.  New listings were up slightly over 22% this week. 254 this week compared to 208 the week before.  This is great news!  People are getting more comfortable with our new normal.

Closed listing this week were also up this week by 34 1/2%.  261 this week compared to 194 the week before.  Most of those closed  between Monday-Thursday the end of the month of April when most buyers like to close.

Take a look at the communities with the most activity this week:

Aurora-New 30 $114,900-$515,000

            Closed-34 $48,000-$552,000

Batavia-New 13 $232,900-$679,900

             Closed-14 $181,000-$547,500

Bolingbrook-New 12 $170,000-$425,000

                     Closed-16 $100,000-$623,500

Geneva-New 14 $229,000-$695,000

             Closed-15 $222,500-$600,000

Montgomery-New 7 $139,000-$294,900

                     Closed-12 $134,000-$295,000

Naperville-New 53 $250,000-$1,325,000

                 Closed-29 $302,000-$728,000

North Aurora-New 8 $179,900-$425,000

                      Closed-10 $130,000-$375,000

Oswego-New 12 $179,900-$593,999

             Closed-15 $181,000-$520,000

Plainfield-New 28 $214,900-$945,800

                Closed-32 $183,590-$470,555

St Charles/Campton Hills-

               New 18 $269,900-$849,450

               Closed-26 $160,000-$800,000

West Chicago-New 11 $164,900-$525,000

                      Closed-7 $277,500-$570,000

Yorkville-New 11 $239,900-$579,900

              Closed-9 $237,000-$422,000

Contracts accepted this week

Contracts accepted this week were up over 17%.  278 this week compared to 237 the week before.  Buyers have not stopped looking during this pandemic.  They still want to find a home so get yours on the market today!

Look at the communities that sellers accepted the most contracts this week:

Aurora-39                              Batavia-13

Bolingbrook-18                     Montgomery-11

Naperville-44                        Oswego-18

Plainfield-37                         St Charles/Campton Hills-25

3 short sales were accepted this week by sellers.  1 each in Aurora, Bolingbrook and Plainfield. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts this week that are contingent on the buyer closing on their current home. 7 with a kick-out clause of 72 hours, 10 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  2 with a kick-out clause of 72 hours, 6 with 48 hours and also 6 with 24 hours.

2020 by the month

Month                             New   Closed   Contracts accepted

January                       1,105      566              858

February                     1,267      529           1,024

March                        1,186       707           1,079

April                             648       786               775

May                              254       261               278

You can see Covid-19 had an impact on the market but it is increasing now.  People are getting used to how we need to do business at this time.  

Some sellers are allowing showings others are not.  No more than 4 people can go to a showing on the homes that they allow showings.  Most showings follow the IDCEO guidelines.  Some are requiring you to wear a face covering.  We are not allowed to do any Open Houses at this time  Some are doing virtual Open Houses.

Contact us

Call us at 630-503-6555 with all your real estate questions.  Your goal is our goal.  We will do everything we can to help you reach your goal.

We have been doing a lot of Zoom video meetings.  Let me know if you would like me to set one up to discuss how we are doing business at this time.  We can go over everything with you and even share documents to go over them.  We are using Docusign to sign documents so we do not have to meet in person to get them signed. 

You can take us through a walk through your home so we can see it with your phone.  We will do a market analysis to update the current value of your home.  Provide you with a net proceeds to show you the expenses to sell your home so you have an idea of where you are at.  This will be updated when an offer comes in so you can make a good decision.

It is very important to get in touch with a loan officer to get pre-approved at this time.  You need to find out the type of loan and price range that will work out best for you.  You will need to keep in touch with them as things change in the market with loans.

We can recommend a home inspector and real estate attorney if you don’t already have one.  You can choose who you think will work out best for you.

Check out some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some community assistance

Market update Fox Valley May 2 2020.  Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

besthomesfv@gmail.com

Market update Fox Valley April 25 2020

Market update Fox Valley April 25 2020.  New listings are up almost 17% this week. 208 this week compared to 178 the week before.  We are going in the right direction but we still need to add more.

Closed listings this week are up about 6 1/2%.  194 this week compared 182 the week before.  This is the last full week of the month.  We will probably see more in the beginning of next week.

Take a look at the communities with the most activity this week:

Aurora-New 29 $133,900-$464,900

            Closed-28 $142,000-$428,000

Montgomery-New 10 $146,900-$275,000

                     Closed-12 $125,000-$343,255

Naperville-New 43 $293,000-$1,585,000

                 Closed-46 $258,000-$1,227,825

Oswego- New 20 $137,000-$430,000

              Closed-14 $233,000-$480,000

Plainfield-New 26 $149,900-$674,900

                Closed-23 $200,000-$435,000

St Charles/Campton Hills-

                New-18 $270,000-$850,000

               Closed-13 $230,500-$875,000

Contracts accepted this week

Contracts accepted this week were up 24 3/4% this week.  237 this week compared to 190 the week before.  This is great news that there are still buyers out there wanting to find a home during this pandemic.

Look at the communities that sellers accepted the most contracts:

Aurora-27                              Batavia-11

Bolingbrook-14                     Geneva-10

Montgomery-10                    Naperville-46

Plainfield-27                         St Charles/Campton Hills-13

Yorkville-13

There were 3 short sales accepted this week by sellers.  1 each in Aurora, Winfield and Yorkville.  Now they will be submitted to the lender to see if they will also accept.

 

Sellers accepted contracts this week that are contingent on the buyer closing on their current home.  5 with a kick-out clause of 72 hours, 9 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts this week that are contingent 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.

2020 by the month

Month                                 New   Closed   Contracts accepted

January                            1,105      566               858

February                          1,267      529            1,024

March                              1,186      707            1,079

April                                   648       786               775

Totals                              4,206    2,588            3,736  

2019

January                              878       407               568

February                         1,032       463               832

March                             1,731       915           1,375

April                               1,594        792          1,307

Totals                              5,235     2,577          4,082

2018

January                            808         489              606

February                       1,040         444              856

March                           1,549         907           1,564

April                             1,515         836           1,278

Totals                            4,912      2,676           4,304

2018 was a better year for homes closed.  2019 was a better year for inventory for homes for buyers to look at.  Even with a pandemic we are not doing too bad.  We are staying pretty consistent.

Contact us

Call us at 630-503-6555 with all of your real estate questions.  Your goal is our goal.  We will do everything we can to help you reach your goal.

During this pandemic things have changed.  Some homes you might need to look at by virtual tour only. Other homes will let you look with taking precautions.

Home inspections you might not get to go with while they are doing the inspection.  They will give you a report and contact you.with questions.

Closings are also different right now. Some, as a seller, you will sign documents ahead of time and not go to closing.  Other places you will be in a separate room.  As a buyer you will be in a separate room or you will schedule a time and sign documents curbside.

Ask your loan officer how they handle the process. 

Check out some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some community assistance

A lot of things are being done right now by video conference.  We are not allowed to do Open Houses at this time.  We can have you sign documents through Docusign.  You can do that from your computer or your phone.

Market update Fox Valley April 25 2020.  Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

besthomesfv@gmail.com

Market update Fox Valley April 4 2020

Market update Fox Valley April 4 2020.  New listings this week were almost the same as the week before.  194 this week compared to 192 the week before.  That is consistent even through a pandemic.

Closed listings in the Fox Valley were up slightly over 20% this week.  246 this week compared to 204 the week before.  I bet most of those occurred on Monday and Tuesday the last days of March.

Take a look at the communities with the most activity this week:

Aurora-New 24 $109,900-$829,900

            Closed-27 $100,000-$475,000

Bolingbrook-New 16 $207,000-$425,000

                    Closed-22 $122,500-$360,000

Geneva-New 6 $269,000-$475,000

             Closed-11 $315,000-$475,000

Montgomery-New 6 $214,900-$299,600

                     Closed-13 $176,000-$305,000

Naperville-New 34 $259,900-$3,988,866

                 Closed-34 $320,000-$1,120,000

Oswego-New 13 $159,000-$539,900

              Closed-14 $160,000-$465,000

Plainfield-New 25 $224,500-$699,000

                Closed-33 $180,000-$426,900

St Charles/Campton Hills-

               New-15 $123,900-$949,900

               Closed-17 $220,000-$730,000

Yorkville-New 14 $169,900-$610,810

              Closed-19 $215,000-$467,500

Contracts accepted this week

Contracts accepted this week were right on target with last week.  172 this week compared to 179 the week before.  We love consistency!  

Look at the communities that sellers accepted the most contracts this week:

Aurora-20                                 Bolingbrook-13

Naperville-21                            Oswego-10

Plainfield-28                             Yorkville-11

3 short sales were accepted by sellers this week.  2 in Yorkville and 1 in Bristol. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  8 with a kick-out clause of 72 hours,  18 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyers selling and closing on their current home.  1 with a kick-put clause of 72 hours and 5 with 48 hours.

2020 by the month

Month                             New   Closed   Contracts accepted

January                        1105      566             858

February                      1267      529           1024

March                          1186      707           1079

April                              194      246              172

At the end of each month I will show the previous 2 years so you can see how we are doing.

Contact us

Call us at 630-503-6555 with all of your real estate questions.  Your goal is our goal.  We will do everything we can to help you reach your goal.

Our industry is classified as “essential” but things have changed.  No open houses during this time.  We are encouraging virtual showings.  Yes it is hard to get the feeling of a home by pictures or a video.  We all have seen wonderful pictures of a home and get there and the pictures looked so much better than it actually was.  They are even suggesting that we have the owners take the pictures or video so we don’t even enter the home.  You will need to look more closely at the amount of space to see if it fits your needs.  You can drive by and look from the outside and see if you like the setting.  Some owners are still allowing showings.

You can still order a home inspection but they are doing it and then giving you a report.  It was nice when you could go through it with them and they could show you how to maintain the home.  They do provide a lot of that information in the report though.

We are doing video meetings now so we can still go over everything with you and answer your questions.

Talking to your loan officer is very important during this time.  They will explain the things that have changed on their end.  If you were pre-qualified before you might need to get it updated now.

Closings have also changed.  Some title companies want the sellers to sign all documents with your attorney before closing day.  Some are still having the buyers come in to sign document and others have “curbside closings.”  They set up a time with you and you pull up to the office and they come out and get your identification and leave the package of documents for you to sign.  They come back out when you are finished and they pick up the package and make sure everything is signed.  Us REALTORS®  are not able to go to closings during this time.  They don’t want anyone there that does not need to sign paperwork.

People still have a need to buy and sell their homes for so many different reasons.  We want to be there for you to help get through this time.

Check out some great resources:

• Types of loans and the process
• VA loans and the process
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some communities

Market update Fox Valley April 4 2020.  Have a great week!  Stay safe and wash your hands.

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

besthomesfv@gmail.com