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. [...]

A Personal Note for Buyers Waiting for a Crash in the Real Estate Market

My husband and I bought our home in the fall, and we are just now finding out what master gardeners the previous homeowners were. Perennials are popping up everywhere. My little dachshunds are running up and down the yard and in and out of the flowers. This may be one of my [...]

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 [...]

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 [...]

December ‘07 Sales Data for Chicago Metropolitan Area Just Out

Once again, our area is poking along with modest appreciation. The median home sale price for the Chicago Metropolitan area for December of 2007 compared to December of 2006 was up 1.1%.* This appreciation is not great, but it is to be expected in a market correction. In the context of the national [...]

Home Sale Anomalies in Barrington and Palatine

If you examine the sales statistics for the Northwest Suburbs over the past year, a constant that emerges is that the number of total transactions was down. That should have meant that inventory was higher and prices were weak. In Palatine and Barrington, sales were down about 30% and 15% respectively in the third quarter [...]

Local Market Conditions in the Northwest Suburbs

Eek! Did you see the headline of the Chicago Tribune’s Sunday paper, “Trapped in Troubled Real Estate Market” (1/13/07)? The accompanying picture of a glum-faced homeowner staring blankly out the window poignantly illustrated the Trib’s message of doom. It would seem that the market is in dire, dire straits.
The headline, the article, [...]