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Types of loan and the process

Fox Valley home prices April 23

Posted on April 23, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices April 23

Fox Valley home prices April 23. We are here to tell you about the real estate market in the Fox Valley area of Illinois. If you would like to learn about other areas we can help you with that also. Communities will be highlighted that have the most activity this week, median prices, financing used, 2,000 Square feet or more, Contracts accepted, 2022 by the month, resources and how to get in touch with us.

New listings of single family homes was up. 302 this week compared to 206 the previous week. That is quite the jump! We are so happy to see this.

Closed listings of single family homes was up slightly. 198 this week compared to 190 the previous week.

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

Aurora-New 37 $125,000-$850,000

Closed-26 $122,820-$627,500

Batavia-New 11 $275,000-$575,000

Closed-7 $295,000-$550,000

Bolingbrook-New 15 $189,900-$525,000

Closed-13 $260,000-$716,000

Geneva-New 13 $249,000-$1,995,000

Closed-8 $297,500-$650,000

Naperville-New 72 $324,999-$1,500,000

Closed-42 $263,000-$1,600,000

Oswego-New 22 $230,000-$649,900

Closed-11 $242,000-$888,240

Plainfield-New 34 $239,000-$1,700,000

Closed-21 $250,000-$668,533

St Charles-New 28 $229,900-$1,300,000

Closed-17 $167,000-$679,500

Sugar Grove-New 10 $355,000-$980,000

Closed-1 $380,000

Yorkville-New 13 $299,990-$875,000

Closed-7 $191,000-$575,000

All these numbers will change as the day goes on. The system updates as agents upload the new listings and closed listings.

Financing used, median prices and 2,000 SF or more

Median price of single family homes listed this week $410,000, last week $387,000.

Closed homes had a median price of $389,000 this week, last week $391,000.

Stats 042322 — Stats for week ending April 23

Conventional financing was used to close 152 homes this week with a median price of $395,000 27 days average market time, last week 144 homes with median price of $402,500 24 days average market time.

Conv 042322 — Conventional financing used for week ending April 23

Cash was used to close on 23 homes this week with a median price of $470,000 12 average market time, last week 24 homes with median price of $410,000 8 average market time.

Cash 042322 — Cash used to close for week ending April 23

FHA financing was used to close on 16 homes with a median price of $287,500 with 12 average days market time, last week 14 homes with median price of $297,500 with 21 days average market time.

FHA 042322 — FHA financing used to close for week ending April 23

VA financing was used to close on 6 homes with median price of $258,500 with 41 days average market time, last week also 6 homes but with median price of $583,500 with 110 average market time.

VA 042322 — VA financing used to close for week ending April 23

People looking for a home that was at least 2,000 square feet or more closed on 116 homes with median price of $473,750 with 33 days average market time, last week 116 homes with a median price of $465,750 with 29 days average market time. The minimum priced home this week was $191,000, last week $175,000.

2000 SF or more 042322 — Homes 2,000 SF or more for week ending April 23

Contracts accepted this week

Contracts accepted by sellers was down. 245 this week compared to 297 the previous week.

Look at the communities seller’s accepted the most contracts this week:

Aurora-36 Bolinbrook-15

Naperville-48 Oswego-12

Plainfield-33 St Charles-26

Yorkville-11

No short sales were accepted by seller’s this week.

Contracts were accepted by seller’s that are contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 hours and also 1 with 48 hours.

Also, contracts were accepted by seller’s that are contingent on the buyer selling and closing on their current home. 1 each with a kick-out clause of 72 h ours, 48 hours and 24 hours.

Median list price of homes that went under contract this week $399,900 with 25 days average market time, last week $399,000 with 23 days average market time.

Contingent Stats 042322 — Contingent Stats for week ending April 23

2022 by the month

Month New Closed Contracts accepted

January 422 492 623

February 523 520 724

March 734 904 890

April 934 749 1009

Totals 2615 2665 3246

New listings are increasing, but so are the closed and under contract. We need new listings to increase drastically to slow down the increase in prices. Interest rates are going up. We are starting to see market time go up and price changes so it is impacting some areas but not all.

Check back with us every Saturday for the real estate market update for the Fox Valley area of Illinois. At the end of each month we will also take a look back at 2021 and 2020 so you can see how this year compares to the previous 2 years.

Resources

Click on each underlined resource that you want to know more about. If there is information not listed that you are looking for let us know and we will point you in the right direction.

VA loans and the requirements

Check with your loan officer to see what interest rate you will be offered. It depends on your credit score. If you need to work on your score they can help you.

Contact us

Call 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.

Request a home valuation if you are thinking about selling your home. Tell us a little bit about your home and what has recently been updated. We will give you an estimate of what it will sell for and a net proceeds that shows you the expenses to sell. When an offer comes in we will update the net proceeds showing the terms and price offered so you can make a good decision.

Thinking about buying a home this year. You need to get all your financial information to a loan officer so they can put you through underwriting so you will know what you are pre approved for and the seller will also feel better accepting your offer knowing you went through this extra step.

Sign-up for email alerts so you don’t miss out on a home coming on the market.

You can search for me on facebook and click on the “shop now” button to search anywhere in Illinois.

All data provided today is from our MLS. MRED, LLC.

Fox Valley home prices April 23. Have an awesome week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Types of loans and the process

Fox Valley home prices March 12 2022

Posted on March 12, 2022March 13, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices March 12 2022

Fox Valley home prices March 12 2022. Every community in the Fox Valley area of Illinois has a little different pricing. It is good to know what they are, so you can decide on the community that you will have the most success finding the home that is right for you.

New listings this week on single family homes were slightly lower. 184 this week compared to 197 the previous week.

Closed listings this week on single family homes were also lower. 150 this week compared to 174 the previous week.

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

Aurora-New 22 $135,000-$750,000

Closed-25 $135,000-$660,000

Bolingbrook-New 11 $243,000-$550,228

Closed-12 $180,000-$432,200

Naperville-New 35 $349,900-$2,249,000

Closed-19 $303,000-$1,020,000

Plainfield-New 19 $300,000-$729,900

Closed-20 $165,000-$640,000

Sandwich-New 11 $130,000-$349,900

Closed-4 $315,000-$480,000

St Charles-New 16 $325,000-$975,000

Closed-15 $225,000-$1,650,000

Financing used, median prices and 2,000 or more square feet

The median list price this week $383,675, last week $375,000.

Median closed price this week $383,000, last week $365,000 with 14 days average market time and 39 days to close.

Stats 031222 — Stats for the week ending March 12, 2022

Conventional financing was used to close on 111 single family homes this week with average market time 30 days, last week 123 at median price of $385,548 with average market time 41 days.

Conv 031222 — Conventional financing used for week ending March 12, 2022

Cash was used to close on 16 single family homes at median price of $373,500 with average market time of 89 days, last week 19 at median price of $326,000 with average market time of 25 days.

Cash 031222 — Cash used to close week ending March 12, 2022

FHA financing used to close on 20 single family homes at median price of $327,500 with average market time of 47 days, last week 22 homes at median price of $275,750 with average market time of 35 days.

FHA 031222 — FHA financing used to close week ending March 12, 2022

VA financing was used to close on 3 homes at median price of $500,000 with average market time of 30 days, last week 9 homes at median price of $365,000 with average market time of 55 days.

VA 031222 — VA financing used to close for week ending March 12, 2022

Homes that were 2,000 square feet or more closed on 89 with a median price of $450,000 this week with average market time 38 days, last week 95 homes at median price of $436,000 with average market time of 45 days. The minimum price this week was $192,000, last week the minimum price was $217,000.

Conventional financing is still the #1 type of financing used and accepted by seller’s right now.

Contracts accepted this week

Contracts accepted this week are staying pretty consistent. 218 this week compared to 213 the previous week.

Aurora-24 Bolingbrook-18

Geneva-12 Naperville-45

Plainfield-23 St Charles-23

Yorkville-12

No short sales were accepted by seller’s this week. That does not mean that they are not out there trying to sell.

Seller’s accepted contracts this week that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 48 hours.

Also, a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 48 hours.

The median price on homes that went under contract this week was $394,750 with average market time of 27 days.

Contingent Stats 031222 — Contracts accepted stats for week ending March 12, 2022

2022 by the month

Month New Closed Contracts accepted

January 422 492 623

February 523 520 724

March 381 557 431

Totals 1326 1569 1778

Check back with us every Saturday for the real estate market update. At the end of each month we will also show you 2021 and 2020, so you can see how this year is going compared to the previous 2 years.

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.

It is still a seller’s market here in the Fox Valley. Prices continue to rise because of the low inventory of homes for sale. This is a great time to be a seller. It is frustrating to be a buyer.

Request a home valuation if you are thinking about selling your home and want to know what the value is in today’s market. Give us some information about your home and what has recently been updated. We will let you know what the expenses to sell might be. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Get in touch with a loan officer and get them all your financial information and have them run you through underwriting so you are approved subject to the address, appraisal and title work if you are thinking about buying. You have to be ready to go in this market . It moves fast and if you haven’t completed this you will lose out on a home.

Set up email alerts so you receive listings as they hit the market so you don’t miss out on anything.

Resources

VA loans and the requirements

Check with your loan officer for the interest rate you will be offered. It depends on your credit score. They can also help you to bring your score up.

Hover and click your mouse over anything that is underlined and in darker print for links to the information.

All data used today is from our MLS-MRED,LLC.

If you are looking for attached homes let us know when you contact us either by filling out the form or call us.

Fox Valley home prices March 12 2022. Have an awesome week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Types of loans and the process

Fox Valley home prices February 19 2022

Posted on February 19, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices February 19 2022

Fox Valley home prices February 19 2022. Winter months are usually the slowest time of the year. Hang in there a couple more weeks. Spring market is right around the corner.

The market picked up 27 more listings of single family homes this week than the previous week. 137 this week compared to 110 the week before.

Closed listings saw a small increase as well. 121 this week compared to 107 the previous week.

Take a look at the communities that had the most activity this week:

Aurora-New 22 $134,900-$649,900

Closed-18 $104,000-$655,000

Bolingbrook-New 7 $189,000-$519,000

Closed-10 $267,900-$425,000

Naperville-New 23 $305,000-$2,995,000

Closed-20 $320,000-$1,200,000

Oswego-New 11 $250,000-$437,740

Closed-5 $330,200-$416,990

Plainfield-New 15 $129,900-$805,900

Closed-14 $185,000-$859,000

St Charles-New 12 $340,000-$1,200,435

Closed-9 $175,000-$831,000

Other communities had activity that you can check out on the photo above. We can also set you up to receive listings of homes in an area that you choose. Let us know what you are looking for and where and we can set you up to receive as they hit the market so you don’t miss out on a thing.

Financing used, median prices and 2,000 square feet or more

The median list price this week of single family homes was $375,500, last week $345,000.

Homes that closed this week had a median closed price of $374,355. last week $341,000.

Conventional financing was used to close on 88 homes with a median price of $397,262, last week 73 homes with median price of $387,000.

Cash was used to close on 15 homes this week with a median price of $477,500, last week also 15 homes with a median price of $284,500.

FHA financing was used to close on 11 homes with a median price of $258,000, last week 16 homes at a median price of $262,500.

VA financing was used to close on 7 homes at a median price of $330,000, last week 3 homes at a median price of $290,000.

72 homes closed that were 2,000 SF or more this week with a median price of $452,500, last week 58 homes at a median price of $422,495. The minimum price this week $279,900, last week $152,000.

Contracts accepted this week

Contracts accepted this week were slightly up. 187 this week compared to 176 the previous week. Until more homes come on the market the numbers are not going to move very much.

Look at the communities seller’s accepted the most contracts:

Aurora-26 Bolingbrook-14

Montgomery-10 Naperville-31

Plainfield-30

No short sales were accepted this week.

Seller’s accepted contracts this week that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 48 hours.

The median price of homes that went under contract this week was $369,900 with average market time of 42 days. Last week the median price was $379,900 with average market time of 40 days.

Stats Contracts accepted February 19 2022

2022 by the month

Month New Closed Contracts accepted

January 422 492 623

February 360 392 533

Check back with us every Saturday. Next week will be the last full week of February so we will also include 2021 and 2020 so you can see how this year is going compared to those 2 years.

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.

It is an awesome time to sell! Prices are up since there is so little inventory of homes. Request a home valuation and tell us a little bit about your home. What have you updated recently? We will give you a estimate of what your home would sell for in today’s market. Included will be a net proceeds that shows you an estimate of expenses to sell and what you might walk away with. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home this year? Get all your financial information together and get it to a loan officer so they can give you a letter showing what you are pre approved for. Make sure you find a loan officer that will run your information through with their underwriters so you are ready to go. Once you find a home and get it accepted all you need to wait for is updating the title and getting the appraiser out there.

We will guide you through the process every step of the way.

Resources

VA loans and the process

Check with your loan officer to see what interest rates they are offering you. It depends on your credit score. If you need to work on it they will help you.

All data provided is from our MLS MRED, LLC.

Fox Valley home prices February 19 2022. Have an awesome week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Types of loans and the process

Fox Valley home prices January 22 2022

Posted on January 22, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices January 22 2022

Fox Valley home prices January 22 2022. New listings of single family homes were up slightly. 110 this week compared to 94 the previous week.

Closed listings of single family homes this week was down. 122 this week compared to 127 the previous week.

The market is off to a slow start so far this year here in the Fox Valley area.

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

Aurora-New 18 $135,000-$1,075,000

Closed-7 $85,000-$410,000

Bolingbrook-New 8 $145,000-$329,900

Closed-11 $221,000-$439,900

Naperville-New 22 $360,000-$4,800,000

Closed-18 $315,000-$820,000

Plainfield-New 17 $299,900-$799,900

Closed-23 $235,000-$550,000

I just highlighted the communities with the most activity. You can see the rest of the communities that had activity in the picture above. You will notice that week after week these same communities are always on the list of most activity. It depends on what you are looking for in a community. One that is consistently active, or one that is more stable.

Financing most used, median prices and 2,000 SF or more

The median list price this week on single family homes is $369,995, last week the median price was $350,000.

Closed median price was $354,000 this week, last week $331,000 on single family homes.

Conventional financing was used to close 89 single family homes this week at a median price of $374,900, last week 90 single family homes at median price of $365,000.

Cash was used to close on 15 single family homes at a median price of $295,000 this week, last week 18 at median price of $282,500.

FHA financing was used to close 9 single family homes at a median price of $320,710 this week, last week 18 homes at median price of $258,500.

VA financing was used to close 9 single family homes at a median price of $300,500 this week, last week 1 at $432,990.

71 single family homes closed this week that were 2,000 square feet or more at a median price of $404,000, last week 70 homes at median price of $434,000.

The minimum price this week for 2,000 or more square feet closed at a price of $280,000, last week $235,000. What a difference a week makes! If you are looking for more space you might have to be patient until the right one comes on the market.

Contracts accepted this week

Contracts accepted on single family homes were down. 163 this week compared to 172 the previous week. We are having a slow trickle of homes coming on the market. This is not surprising.

Look at the communities seller’s accepted the most contracts this week:

Aurora-29 Bolingbrook-10

Naperville-28 Plainfield-18

St Charles-13

The median price that received a contract this week is $350,000. $68,000 was the minimum price on single family homes. Average market time was 49 days this week.

Contingent Stats January 22 2022 — Contract accepted Stats for January 22 2022

No short sales were accepted this week by seller’s. That does not mean that there are no short sales listed.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 hours and 4 with 48 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.

2022 by the month

Month New Closed Contracts accepted

January 310 371 445

Check back with us every Saturday for the market update. At the end of each month we will also include the numbers for 2021 and 2020 so you can see how this year is going compared to those previous 2 years.

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.

This might be more information than you are looking for. You might just like to see a graph, but I like to break it down a little more.

You will be the one to decide what information you want, and how often, once we start working together. Do you want a more broad area to look, or a more defined area. Will you look at any age, type of home, or do you want to only view a set criteria of homes?

It all starts with getting your financial information to a lender to get pre approved.

If you are thinking about selling your home request a home valuation. Give us some details about your home and what has been recently updated. We will show you what the market is doing with your type of home in your area. Provide a net proceeds that shows an estimate of expenses to sell that will be updated when an offer comes in and we know all the terms.

Resources:

VA loans and the requirements