RE-DIRECT

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Cook and Lake Counties: First Quarter Report, 2008

First quarter reports are out. Well, there are no huge surprises, but one little surprise. Sales were down from last year, way down: -29% in Cook County and -29% for Lake County. We all saw that coming. And, the average sale price in Lake County was down 2.5% from last year. [...]

Have the March Stats for Cook and Lake County Come Out Yet?

LC (Laura Cannon): Yes.
IP (Interlocuter): So, how were they?
LC: Eek. Not great. I think April numbers will be better.
IP: So, how bad were they?
LC: Well, let me start with the good news: In Cook County, sales were only down about 26% over last year.
IP: What kind of spring bounce is that?!
LC: I [...]

Barrington and Palatine: There is Still a Spring Market Bounce

There is no way to not make this entry lame. I am posting just to say I won’t be posting for a few more days. Sorry about that. I’ve been really busy. This spring market feels like a sale at Macy’s in December: confusion, but some great deals if you [...]

2008 Spring Market Report; Who is buying?

I haven’t been able to post for a while, and this one will have to be short. The spring market is now in full swing. After sales were down 34% and 27% in January and February respectively for the Chicago Metro area as compared to last year, we are on a rebound month.* Given [...]

Economic Unpredictability: What is the Impact on the Barrington Real Estate Market?

Noted economist Paul Krugman said in an interview published earlier this week that we could see an average of a 25% drop in housing prices across the country (How Bad is the Mortgage Crisis Going to Get? Fortune, 3/17/08). This is a big statement.
But before we panic, before we make this dire forecast come [...]

Office Buzz in Barrington and Market Feel in Palatine and Inverness

This entry is a little more anecdotal than statistical. The office buzz at my home-base, Keller Williams in Barrington, has been a shared feeling of cautious optimism and anticipation this past week. The mood was especially cheery and alive on Monday after the weekend. Colleagues reported an increase in open house attendance and [...]

Cruel Winter Delays Spring Market

It seems like months since we’ve seen our lawns. . . And the weather is impacting the market, too. Sales are down in the Northwest Suburbs compared to last year at this time. Realtors used to think of the spring market as beginning after the Super Bowl. Over the last couple years, [...]

2007 Sales Summary for the Chicago Metropolitan Area

According to the Illinois Association of Realtors 2007 market report, sales were down about 20% in the Chicago metro area for the year. The median home sale price was up 2.4%.
What does this mean for our local spring market of 2008? It is still a buyer’s market.

What is the Most Common Home Inspection Issue You Encounter?

I took out some buyer clients yesterday in Deer Park. This is a lovely area north of Palatine and east of Barrington. One of its distinguishing features is its rolling landscape and soft hills. After seeing a couple duds, we came upon a home my clients really liked. The home had [...]