Archive for Home Buying
Orland Park 2011 Statistics Are In
Posted by: | CommentsThe 2011 stats are in for Orland Park homes.
- There were 6% more sales than in 2010 – 282 in 2011 vs. 266 in 2010. That’s good news and I’m hoping we’ll see even a higher amount of sales in 2012. It’s been really busy for this time of year and I hope it continues.
- Prices decreased 11.1% – the average sale price in 2011 was $318,088 compared to $357,690 in 2010. I didn’t expect double digit price decreases in this popular village.
Although I am optimistic about 2012 I’m not sure how prices will be affected. Even with more sales we are still in a buyer’s market with more short sales and foreclosures coming up. As many real estate gurus predict, I think we will continue seeing price drops.
Click the link to see all Orland Park real estate sales stats from 2005 until the present.
3rd Quarter 2011 Stats in for Homer Glen
Posted by: | CommentsClick the link to read about 3rd Quarter Real Estate Sales Stats for Homer Glen Homes, comparing 2011 to 2010 figures. There is good news and 
bad news.
The good news is that the volume of sales was up by a healthy double digit figure. It’s always a positive indicator when more people are buying than in the past – more activity will help clear out the overloaded inventory.
The bad news is that prices dropped, but at least the drop was in the single digits, unlike some other southwest suburbs. We don’t like to see these constant price drops, but this means value is still there for buyers, especially with our current interest rates. What many buyers don’t realize is that even at a lower price, higher interest rates might mean a higher monthly mortgage payment vs. today’s prices with these super low rates. I wrote a post about home buyers getting off the fence that shows some actual examples.
Orland Park Homes For Sale Today, 10/10/2011
Posted by: | CommentsAs of today’s date, there are 337 homes in Orland Park up for sale. The year started out with about 250 homes on market and in October, 
getting to the end of our annual selling market, the inventory has increased to more than 300 available homes. We are still facing a very lopsided buyer’s market, and although there are some pockets of the United States where sales are good, we still have way too much inventory vs. ready, willing and able buyers in our area.
Add to that the problem of appraisals falling short for many sales, it is still a challenging market for Orland Park and other southwest suburbs. There are buyers out there, but with over 300 homes up for sale, only 27 were under contract last month. That means that less than 10% of the total inventory of Orland Park homes received an accepted offer. All the rest sit, waiting for that special buyer.
Unfortunately, many have to take multiple price reductions until a buyer feels their home is offer worthy. Many sellers cannot comprehend the reality of our current market and it takes them months (sometimes years) and multiple price reductions and even multiple agents for them to realize that this is how it is.
If you’re an Orland Park home seller that would like to get your home sold, give Judy Orr a call at 708-536-8200. She can tell you why your home hasn’t sold yet if you’ve had it on the market. She will create a marketing plan to get your property sold.
Homer Glen Homes Available Today – Sept. 10th, 2011
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Tinley Park Homes
Posted by: | CommentsWe’re starting to get busy and I’d like to review how many Tinley Park homes are currently on the market. Read More→
Market Value from a CMA is not Written in Stone
Posted by: | CommentsI have gone on a few listing presentations where I did not want the listing, even on homes that looked very nice at first glance. I went
to give a listing presentation and CMA (Comparative Market Analysis) for an Orland Park home. The owners were confused as the last agent that did the same thing never contacted them after her visit. Read More→
The Top Three Highest Priced Southwest Suburbs
Posted by: | CommentsReal estate statistics are in for 2010. There have been some changes – Lemont has taken the lead as the most expensive southwest suburb. The top three highest priced southwest suburbs are: Read More→
