Market Update Fox Valley September 9 2017
Market update Fox Valley September 9 2017. First full week of September is off to a great start with New homes listed. 293 this week compared to 248 last week. We hope this continues now that we are past the opening of the schools. Inventory is still extremely low in most areas of the Fox Valley.
Closed homes in the Fox Valley were down this week. 176 this week compared to 295 last week. That is the difference between the beginning of the month and the end of the month. If you need a mortgage to purchase you will want to close towards the end of the month so you can come into closing with less money. You need to bring in the interest from the day of closing to the end of the month. Most people choose to close towards the end of the month to use those funds for moving in and updating things to make the home more personal to their needs.
These lists are for single family homes only. We can provide you with the information for Attached housing, Multi-family and rentals just let us know what you are looking for. Take a look at the communities with the most activity this week:
Aurora-New 36 Closed 32
Batavia-New 11 Closed 7
Bolingbrook-New 14 Closed 20
Geneva-New 13 Closed 6
Montgomery-New 11 Closed 7
Naperville-New 56 Closed 23
Oswego-New 18 Closed 6
Plainfield-New 41 Closed 27
St Charles-New 32 Closed 11
Yorkville-New 10 Closed 4
Market Update Fox Valley September 9 2017-Accepted Contracts
Accepted contracts this week were down from last week. 194 this week compared to 256 last week. Hopefully with the increase in New homes coming on the market will increase this number this next week.
Short sales were the same as last week. 7 accepted short sales by the owners. Now they will go on to see if the mortgage company will accept them. This can be so confusing to people. The price that the home is listed for in most cases the mortgage company does not even know what price they have it up for sale for. They might or might not accept the price the owners accepted. These take time. You need to be patient. If time is an issue these are not the homes you should be looking at.
Sellers accepted contracts this week that the buyer needs to close on their home before they can purchase. The buyers have already had their home on the market and have accepted a contract on their home. 7 of them have a 72 hour kick-out clause, 9 with 48 hour and 1 with a 24 hour kick-out.
Home owners also accepted contracts with buyers that need to sell their home. They might already have it on the market or not. They do not have a contract on their home yet. 2 of them have a 72 hour kick-out clause, 6 with 48 hour and 1 with a 24 hour kick-out.
Take a look at the communities that home owner accepted the most contracts this week:
Aurora-36 2 of them were short sales
Naperville-28 2 of them were short sales
Plainfield-21 2 of them were short sales
The other short sale was in Montgomery.
Contact us if you are thinking about selling your home or purchasing. You can request a home evaluation so we can let you know what your home is worth in today’s market. We can also provide you with an estimate of expenses.
If you are just starting to think about purchasing a home your fist step is talking to a loan officer to get pre-qualified so you know what price range will work out for you. You will also need this when you do find a home to go with the offer to purchase. The seller will want to know that you are qualified before they will accept your offer. We can make a few recommendations for you to contact.
You can call us at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. If you prefer you can fill out our contact form and let us know the best way you would like us to get in touch with you. You can search for a home anytime. We make it our business to find the perfect fit for your needs. Best Homes Fox Valley Have a great week! Market Update Fox Valley September 9 2017.