Market update Fox Valley week 52

Posted on December 26, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 52

Market update Fox Valley week 52. The market slowed way down this week with the holiday. Only 62 new listings of single family homes this week compared to 100 the week before.

Closed listing were also down. 163 single family homes this week compared to 242 the week before. Next week we should see a big jump because it is the last week of the month and year.

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

Aurora-New 6 $155,000-$280,000

Closed-22 $139,000-$417,500

Bolingbrook-New 2 $249,900-$284,900

Closed-11 $165,000-$420,000

Naperville-New 20 $375,000-$1,475,000

Closed-26 $240,000-$2,900,000

Plainfield-New 4 $239,900-$405,000

Closed-30 $225,000-$728,000

St Charles/ Campton Hills-

New 4 $289,900-$629,900

Closed-15 $75,000-$568,000

Contracts accepted this week

We add in the contracts accepted into the market update Fox Valley to let you see how many buyers are out there ready to write an offer that gets accepted. In normal weeks when this starts to change you know the market is changing either for the better or not so good.

Look at the communities that sellers accepted the most contracts this week:

Aurora-10 Bolingbrook-11

Naperville-15 Plainfield-14

3 short sales were accepted by sellers this week. 1 in Montgomery and 2 in Plano. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours and 1 with 48 hours.

Also, sellers accepted contract that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and 5 with 48 hours.

There is still confidence in the market that these will go through.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

December 440 793 663

Totals 12270 11691 14026

Closed is the most important column. These are actual numbers. September was the best month so far this year for closed single family homes.

New listings sometimes are relisted as a new listing when they are not.

Contracts accepted can sometimes not make it through the home inspection and attorney review period for many different reasons. So both of those columns are not actual numbers.

Next week will be the last week of the year. We will compare this year with 2019 and 2018 so you can see how this year compares to those 2 years.

We had no idea in February how this year would go. Buyers were out there wanting a bigger home for a home office and space for e-learning and a bigger yard. Inventory has remained low so prices have gone up.

Contact us

Call 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Thinking about selling your home? Request a home valuation so we can update the value on your home. We will provide a net proceeds that shows an estimate of expenses to sell so you know where you are at. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Are you thinking about buying a home in the new year? You will need to get a couple of years tax returns, pay stubs, bank statements, credit card information, car payment information and any other payments you make monthly together and contact a loan officer to get prequalified. They will give you a letter that shows the type of loan and the price that will work out best for you. This will go with an offer when you find the home you like.

Check out some great resources that might help you:

Let us know if there is any other information that you are looking for. We would be happy to point you in the right direction.

Market update Fox Valley week 52. Happy Holidays! Have a great week.

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 51

Posted on December 19, 2020December 19, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 51

Market update Fox Valley week 51. New listings this week were down almost 32%. 100 new listings of single family homes this week compared to 147 the week before. Sellers are waiting to get through the holiday at this point. Next couple of weeks it should improve.

Closed listings were consistent with the week before. 242 closed single family homes this week compared to 241 the week before. Next week is the last week of the month and year so there should be an increase then.

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

Aurora-New 13 $179,000-$350,000

Closed-34 $108,500-$675,000

Bolingbrook-New 6 $245,000-$509,900

Closed-10 $165,000-$429,000

Naperville-New 15 $395,000-$1,195,000

Closed-48 $140,000-$2,900,000

Oswego-New 3 $345,000-$450,000

Closed-10 $235,000-$498,000

Plainfield-New 13 $235,000-$554,000

Closed-28 $230,000-$550,000

St Charles/Campton Hills-

New-3 $414,900-$995,000

Closed-23 $196,500-$760,000

Yorkville-New 15 $268,490-$345,000

Closed-13 $217,000-$705,001

Contracts accepted this week

Contracts accepted this week by sellers was pretty consistent. 189 single family homes accepted this week compared to 194 the week before. Definitely some excited buyers and sellers right before Christmas! Finding a home or getting a contract on your home is the first step to reaching your goal.

Look at the communities that sellers accepted the most contracts this week:

Aurora-27 Naperville-27

Oswego-12 Plainfield-25

St Charles/Campton Hills-17 West Chicago-10

2 short sales were accepted by sellers this week. 1 each in Naperville and Sugar Grove. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. Only one this week with a kick-out clause of 48 hours.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

December 377 630 570

Totals 12207 11528 13933

Closed listings of single family homes is the most important column to look at. This is actual numbers. September was the best month so far this year followed by July then August.

New listing numbers you can’t count on because some of them were canceled and relisted. The same for contracts accepted. Some of them did not make it through the home inspection and attorney review period for many different reasons and were put back on the market and then get a contract again.

It continues to be a sellers market. Low inventory is causing prices to go up and we are seeing multiple offers continue with so many buyers still trying to find a home.

Next week is the last week of the year. We will compare this year to 2019 and 2018 so you can see how this year compares to the previous 2 years.

Contact us

Call us at 630-503-6555 with all your real estate questions. Your goal is out goal. We will do everything we can to help you reach your goal.

If you are thinking about selling your home request a home valuation so we can let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell and what you might walk away with at closing. 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 in 2021? You need to contact a loan officer to get prequalified first. Get 2 years of tax returns, pay stubs, bank statements, credit card payments, car payments and any other payments you make monthly together and get them to a loan officer so you can see what price range and what type of loan will work out best for you. They will provide you with a letter that shows what you qualify for and that will go with an offer when you find the right home. Sellers want to know that you qualify for their home before they will consider your offer.

Check out some great resources:

Let us know if you are looking for any other information and we will be happy to point you in the right direction.

Market update Fox Valley week 51. Have a great week and Merry Christmas!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 50

Posted on December 12, 2020December 19, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 50

Market update Fox Valley week 50. New listings of single family homes went up 13.08%. 147 this week compared to 130 the week before. It bounced up slightly after the holiday.

Closed listings of single family homes went down 18.03%. 241 this week compared to 294 the week before. It will increase as we head closer to the end of the month when most buyers want to close.

Look at the communities that had the most activity this week:

Aurora-New 23 $154,899

Closed-38 $104,999-$525,000

Bolingbrook-New 6 $210,000-$445,000

Closed-15 $145,000-$426,000

Geneva-New 4 $99,000-$414,900

Closed-15 $198,000-$685,000

Montgomery-New 2 $221,000-$295,000

Closed-10 $170,000-$299,900

Naperville-New 28 $267,500-$2,300,000

Closed-27 $241,500-$1,320,000

North Aurora-New 4 $209,000-$499,900

Closed-10 $206,000-$409,900

Oswego-New 11 $225,000-$695,000

Closed-14 $226,000-$460,000

Plainfield-New 18 $212,900-$650,000

Closed-31 $188,210-$550,000

St Charles/Campton Hills-

New-15 $170,000-$1,295,000

Closed-20 $233,000-$865,000

Yorkville-New 3 $205,000-$378,391

Closed-11 $135,000-$420,000

Contracts accepted this week

Contracts accepted this week on single family homes are up 3.74%. 194 this week compared to 187 the week before. Lower inventory and the upcoming holidays are contributing to the lower increase of activity. People are focusing on getting ready for the holidays.

Look at the communities that sellers accepted the most contracts this week:

Aurora-37 Bolingbrook-12

Naperville-22 Oswego-10

Plainfield-22 St Charles/Campton Hills-14

No short sales this week received contracts.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 7 with a kick-out clause of 72 hours , 6 with 48 hours and 3 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 4 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

It still continues to be a sellers market. Fewer homes are going on the market but they are selling right away once they do. If you are waiting for the New Year to put your home on the market now is a good time to discuss the process with you.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

December 277 441 381

Totals 12107 11339 13744

September was the best month so far in 2020 for closed homes. Closed homes is the most important column to look at. This is actual numbers. New listings and contracts accepted can both have number that were counted more than once. A new listing can be relisted as new even though it has been on the market before. Also for contract accepted. Sometimes a contract does not make it through the home inspection and attorney review period or something might come up on a buyers credit that did not show up initially so they do not get approved. The home goes back on the market and gets another contract.

It really has been a better year than we expected during a pandemic. We think 2021 will continue to be a sellers market. Interest rates continue to be fantastic. If you have thought about refinancing to get a better rate you might think about moving instead.

Contact us

Contact us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Thinking about selling your home? Request a home valuation so we can show you what your home is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell so you can see where you are at. This will be update when an offer comes in and we know all the terms.

Are you thinking about buying a home? You will need to contact a loan officer to get prequalified. Start a folder and put in the last 2 years of tax returns, pay stubs, bank statements, credit card information, car payment and any other payments you make monthly. The loan officer will need this information and they might ask for it again during the loan process so it is a good idea to keep it handy.

Check out some great resources:

Let us know what information you are looking for so we can direct you in the right place. We can do zoom meetings to go over information if that helps and you do not want to meet in person. You can also face time video and walk me through your home so I can see it to do a market analysis. There are 3D photo programs that can be set up if you are worried about people walking through your home. If you haven’t seen one of them they are like walking through each room on your computer or phone.

Market update Fox Valley week 50. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 49

Posted on December 5, 2020December 12, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 49

Market update Fox Valley week 49. New listings of single family homes are up 42.86%. 130 this week compared to 91 the week before that was Thanksgiving week. Holidays can make a big difference.

Closed listings of single family homes were up 52.33%. 294 this week compared to 193 the week before. When you have a holiday at the end of the month some of the closings get pushed back to beginning of the next month. It is hard to get them all in in 3 days.

We are heading into the final weeks of the year. Most of the sales now will most likely close in the new year unless it is a cash sale.

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

Aurora-New 18 $129,900-$459,000

Closed-43 $120,000-$449,000

Bolingbrook-New 16 $209,900-$450,990

Closed-21 $164,000-$560,000

Geneva-New 3 $410,000-$958,900

Closed-12 $337,000-$815,000

Montgomery-New 3 $270,000-$335,000

Closed-11 $186,000-$351,000

Naperville-New 27 $288,050-$1,298,700

Closed-48 $270,000-$1,950,000

Oswego-New 6 $199,900-$389,900

Closed-11 $190,000-$429,365

Plainfield-New 10 $185,873-$999,800

Closed-27 $231,500-$389,000

St Charles/Campton Hills-

New 11 $250,000-$824,900

Closed-28 $186,000-$1,400,000

West Chicago-New 6 $214,900-$339,900

Closed-12 $162,000-$550,000

Yorkville-New 9 $235,000-$429,900

Closed-15 $193,000-$359,000

Contracts accepted this week

Contracts accepted this week were down 5.08%. 187 this week compared to 197 the week before. Not too bad when the week before we were way down in new listings. Not a lot of choices for the amount of buyers that are out there. We are still seeing multiple offers.

You need to have a good strategy in place right now if you are a buyer. You need to be ready to go look and not hesitate to write an offer.

Look a the communities that sellers accepted the most contracts this week:

Aurora-28 Bolingbrook-17

Naperville-23 Plainfield-31

St Charles/Campton Hills-17

2 short sales were accepted this week by sellers. 1 each in Aurora and Batavia. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 5 with a kick-out clause of 72 hours, 2 with 48 hours and also 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 48 hours.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

December 130 294 187

Totals 11960 11192 13550

The closed column is the most important one. These numbers show you what actually happened. New listings and contracts accepted columns are inflated with homes that could of been relisted as new or received a contract and did not go through and then received another contract.

September so far is the best month for closed homes. Usually it drops off a little after school starts but not this year. It is still a sellers market. There are more buyers than homes for sale. This has caused prices to rise. Interest rates are still fantastic!

Some people don’t realize how good the market is right now. They think because of the pandemic the market is not moving but it sure is.

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.

Thinking about selling your home? Request a home valuation and we will let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell so you will have an idea of what you have to work with. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Are you thinking about buying a home? Your first step is to get a couple of years tax returns, pay stubs, bank statements and any other thing that you pay monthly like credit cards or car payments together. Call a loan officer to get prequalified. They will provide you with a letter showing the type of loan and the price that will work out best for you. When you find a home we will need to send this with an offer to show sellers that you qualify.

Check out some great resources:

If you need any other information let us know and we will point you in the right direction. Do you need recommendations for real estate attorneys, home inspectors or information on radon? Let us know and we will provide you with people that we have worked with before or we can send you pamphlets on the information that you are looking for.

Market update Fox Valley week 49. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 48

Posted on November 28, 2020November 28, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 48

Market update Fox Valley week 48. New listings of single family homes are down 39.34%. 91 this week compared to 150 the week before. It is a holiday week so that makes it tough. This week we should bounce back.

Closed listings of single family homes were also down 37.34%. 193 this week compared to 308 the week before. When a holiday is at the end of the month closings either get moved up or pushed back.

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

Aurora-New 14 $114,900-$449,995

Closed-27 $60,000-$663,000

Bolingbrook-New 5 $209,900-$345,000

Closed-16 $140,000-$359,000

Naperville-New 12 $384,900-$1,325,000

Closed-25 $330,000-$760,000

Oswego-New 3 $234,000-$435,000

Closed-13 $252,000-$575,000

Plainfield-New 14 $185,000-$849,900

Closed-18 $208,000-$790,000

St Charles/Campton Hills-

New 9 $224,900-$899,000

Closed-19 $138,000-$775,000

Yorkville-New 2 $359,990-$369,000

Closed-12 $239,900-$495,000

Contracts accepted this week

Contracts accepted on single family homes are down by 13.22%. 197 this week compared to 227 the week before. That is not too bad for a holiday week!

Look at the communities that sellers accepted the most contracts this week:

Aurora 29 Bolingbrook-22

Naperville-35 Plainfield-23

St Charles/Campton Hills-17

Only 1 short sale was accepted this week by a seller. It was in Naperville. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

2020 by the month and a look back at 2019 and 2018

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

Totals 11830 10898 13363

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

August 1585 1330 1196

September 1164 765 869

October 1041 738 776

November 897 946 839

Totals 14633 9612 11350

2018

January 808 489 606

February 1040 444 856

March 1549 907 1564

April 1515 836 1278

May 1645 995 1280

June 1828 1720 1474

July 1318 994 1061

August 1294 1032 989

September 1479 1093 1078

October 1042 712 748

November 729 739 653

Totals 14247 9961 11587

Closed is the most important column to look at. These are actual numbers and 2020 is doing the best so far comparing to 2019 and 2018.

New listings for 2020 is way behind 2019 and 2018 but these numbers are not accurate. Some of these have been relisted as new even though they have been on the market. New construction has helped buyers that are looking and just can’t find anything. Homeowners don’t realize how many buyers are out there looking. They think because of the pandemic that housing isn’t moving. We are still getting multiple offers on homes. Inventory of homes for sale has been severely low for a few years causing pricing to really go up this year but interest rates are fantastic.

Contracts accepted numbers are also not accurate. Some of these contracts do not make it through the home inspection and attorney review period. They go back on the market and then get another contract. Buyers in this market know they have to be ready to write a contract or they will lose out on a home.

Check back with us every Saturday for the market update Fox Valley. At the end of each month we will compare to 2019 and 2018.

Contact us

Call us at 630-503-6555 with all your real estate questions. Your goal is our goal. I will do everything I can to help you reach your goal.

Buyers are looking for a home that is ready to move into. If you are thinking about selling make sure you pack everything away. Fresh paint does wonders. Make sure your home is sparkling clean or they will just move onto the next home. Request a home valuation so we can show you what it is worth in today’s market. I will provide you with a net proceeds that shows you an estimate of the expenses of selling a home. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? Get a couple of years tax returns, pay stubs, bank statements and any monthly loans or credit cards you have together. Contact a loan officer and get prequalified. They will provide you with a letter showing the type of loan and what price would work out best for you. This will go with an offer when you find a home so you can show the owner that you do qualify to buy their home. Need a recommendation? Let us know and I will provide you with a few that we have successfully worked with and you can decide who you want to work with.

Check out some great resources:

Let us know if there is any other information you are looking for. We will be happy to point you in the right direction.

Market update Fox Valley week 48. I hope you enjoyed a great Thanksgiving. Have a great week!

Market update Fox Valley week 47

Posted on November 21, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 47

Market update Fox Valley week 47. New listings of single family homes were about the same. 150 this week compared to 152 the week before. This is typical for this time of year before the holidays but this year the amount of buyers out there ready to buy is not getting satisfied. Multiple offers are a common thing right now. Buyers are using escalation clauses, waiving home inspections and trying to be creative to win.

Closings on single family homes this week were up 54.77%. 308 this week compared to 199 the week before. Next week is going to be a short week with the Thanksgiving holiday so that is why there is such an increase.

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

Aurora-New 17 $139,900-$385,000

Closed-41 $70,070-$510,000

Batavia-New 5 $297,500-$489,500

Closed-15 $174,000-$855,000

Bolingbrook-New 10 $169,900-$344,900

Closed-20 $155,000-$507,670

Geneva-New 8 $255,000-$792,000

Closed-19 $235,000-$625,000

Minooka-New 3 $275,000-$288,150

Closed-14 $124,000-$650,000

Montgomery-New 5 $189,900-$289,900

Closed-13 $141,277-$295,000

Naperville-New 26 $299,900-$1,400,000

Closed-44 $270,000-$1,775,000

Oswego-New 12 $299,900-$529,900

Closed-20 $248,000-$525,000

Plainfield-New 19 $184,000-$749,000

Closed-34 $182,500-$565,000

St Charles/Campton Hills-

New-10 $237,900-$889,900

Closed-16 $225,500-$548,000

Yorkville-New 2 $199,000-$299,390

Closed-16 $235,000-$849,000

Most of these communities consistently see higher activity. Is that what you are looking for or a smaller more stable community?

Contracts accepted this week

Contracts accepted this week on single family homes were down 5.02%. 227 this week compared to 239 the week before. With only 152 new listings added last week this turned out better than expected.

Look at the communities sellers accepted the most contracts:

Aurora-33 Bolingbrook-17

Geneva-10 Naperville-34

Plainfield-30 St Charles/Campton Hills-15

West Chicago-12 Yorkville-11

2 short sales were accepted this week. 1 each in Bolingbrook and North Aurora. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyers closing on their current home. 6 with a kick-out clause of 72 hours and 7 with 48 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and also 2 with 48 hours.

Sellers still have confidence in the market to accept these contingencies. It has been a crazy year but the market has been good!

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 476 792 699

Totals 11739 10705 13363

The closed column is the most important one to look at. These are actual numbers. New and contracts accepted might not be because of listings relisted as new even though they are not. Contracts can get accepted and not make it through the home inspection and attorney review period and go back on the market and then come up as contract accepted again.

Check back with us next week and we will also look back at 2019 and 2018. I do that at the end of each month so you can see how the market is doing compared to those other 2 years.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. I will do whatever I can to help you reach your goal.

Thinking about selling your home? Request a home valuation and we will show you what it is work in today’s market. I will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? Get your tax returns for 2 years, check stubs, bank statements and anything you pay monthly together and call a loan officer to get prequalified. They will tell you the price range and what type of loan will work out best for your situation. If you need recommendations I would be happy to give you a few names and numbers to contact and you can choose who you want to work with. They will give you a letter showing what you qualify for and that will go with an offer when you find a home. If it is older than 30 days it will need to be updated.

Check out some great resources:

If you are looking for other types of information let me know I would be happy to tell you where to look. Some of the links provided also give you other information that you might be interested in.

Market update Fox Valley week 47. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 46

Posted on November 15, 2020November 15, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 46

Market update Fox Valley week 46. New listings of single family homes are down 12.64%. 152 this week compared to 174 the week before. We are definitely not listing enough homes to meet the demand of buyers.

Closed listings of single family homes are also down by 30.18%. 199 this week compared to 285 the week before. Closings in the beginning of the month are to be expected. Most buyers want to close at the end of the month.

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

Aurora-New 20 $139,900-$389,000

Closed-25 $80,.000-$450,000

Batavia-New 3 $239,000-$335,000

Closed-10 $212,000-$435,000

Bolingbrook-New 11 $229,900-$414,900

Closed-7 $205,000-$576,000

Montgomery-New 4 $188,900-$389,000

Closed-10 $197,950-$339,000

Naperville-New 25 $275,000-$849,900

Closed-33 $247,000-$1,480,000

Oswego-New 6 $239,900-$525,000

Closed-12 $210,000-$437,500

Plainfield-New 22 $169,000-$569,000

Closed-24 $190,500-$537,500

St Charles/Campton Hills-

New-13 $229,000-$789.800

Closed-14 $190,000-$667,449

Contracts accepted this week

Contracts accepted this week on single family homes were very consistent. 239 this week compared to 233 the week before. Even though there were less listings this week buyers were still finding a home. They fought for them with multiple offers in a lot of cases.

Look at the communities sellers accepted the most contracts:

Aurora-45 Bolingbrook-20

Naperville-26 Oswego-17

Plainfield-28 St Charles/Campton Hills-18

Yorkville-10

Only 1 short sale was accepted by a seller this week. It was in Plano. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 14 with 48 hours and 4 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

2020 market update by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

November 326 484 472

Totals 11589 10397 13136

September is the best month so far this year for closed single family homes. This is the only column with actual numbers you can count on.

New listings can be relisted as new. Some agents do this so it does not look like it has been on the market very long.

Contract accepted may not end up closing because of home inspection issues or attorney review items could not be satisfactory negotiated. They might be reactivated and then go contract pending again. So you can’t count on these numbers.

At the end of each month I will compare to 2019 and 2018 so you can get an idea of how this year is going compared to those years.

Contact us

Call us at 630-503-6555 with all of 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. We will provide you with a net proceeds that gives you an estimate of the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Are you thinking about buying a home? You need to get your tax returns, check stubs, bank statements and any monthly payments like car payments together and contact a loan officer so they can prequalify you. They will provide you with a letter that shows what price and what type of loan you qualify for. When you find a home this will go with an offer so you can show the seller you do qualify for their home.

Check out some great resources:

Also check with your lender for any special programs they have. You might be able to combine down payment assistance with some of their programs.

Homes are selling like hotcakes so if you are thinking about selling now is a great time!

Check back with us every Saturday for the market update. Call us in-between with any questions or if you see something you would like to take a look at.

Market update Fox Valley week 46. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 45

Posted on November 7, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 45

Market update Fox Valley week 45. New listings of single family homes were down almost 8%. 174 this week compared to 189 the week before. Hopefully next week this will improve. Buyers are still waiting for homes to come on the market. Competition is very low right now so this is the perfect time to sell.

Closed listing of single family homes were also down just under 7%. 285 this week compared to 306 the week before. This is the first week of the month so that is to be expected. Most buyers want to close at the end of the month.

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

Aurora-New 19 $129,900-$525,000

Closed-$45 $120,000-$565,000

Bolingbrook-New 10 $169,900-$425,000

Closed-22 $31,000-$950,000

Geneva-New 8 $289,000-$695,000

Closed-11 $262,000-$625,000

Montgomery-New 7 $159,900-$399,000

Closed-14 $166,500-$345,065

Naperville-New 39 $235,000-$1,500,000

Closed-46 $236,000-$1,090,000

Oswego-New 11 $219,990-$1,799,000

Closed-12 $205,000-$435,000

Plainfield-New 21 $169,900-$549,999

Closed-35 $242,000-$645,000

St Charles/Campton Hills-

New 11 $245,000-$642,700

Closed-23 $188,000-$985,000

Yorkville-New 8 $239,000-$399,900

Closed-14 $164,900-$435,000

Contracts accepted this week

Contracts accepted this week were also down this week just under 13%. 233 this week compared to 267 the week before. Extremely low inventory and now this week going even lower does not help. Buyers are putting in offers and having to deal with multiple offer situations. Increasing prices also does not help. With such low inventory prices have been going up higher and higher. We are even having a hard time coming up with comparables for the increase in prices.

Look at the communities that sellers accepted the most contracts this week:

Aurora-38 Bolingbrook-15

Montgomery-10 Naperville-33

Oswego-15 Plainfield-23

St Charles/Campton Hills-20 Sycamore-10

2 short sales were accepted by sellers this week. 1 each in Montgomery and Waterman. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 9 with a kick-out clause of 72 hours, 7 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and also 2 with 48 hours.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1106 1159

November 174 285 233

Totals 11437 10198 12897

July was the best month for new listings. September was the best month for closed listings. July was also the best month for contracts accepted.

Closed listings is the one to really look at. This is actual numbers. They definitely closed. New listings sometimes get relisted as new even though they are not new to the market. The same for contracts accepted. The might get accepted and don’t go through to closing and go back on the market.

July used to be a very slow month when most people were gone on vacation. This year because of the pandemic July was very busy. Some people do not realize how active the housing market has been throughout this year.

Check back with us every Saturday for a market update Fox Valley. At the end of each month I compare to the previous 2 years so you have something to compare this year to.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Even with the pandemic it is a great time to sell. Buyers are out there waiting for something to come on the market to see. Request a home valuation and we will let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be update when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home? You need to contact a loan officer first to see what type of loan and what price range will work out best for you. They will give you a letter showing what you qualify for and it will go with an offer when you find a home. It can’t be older than 30 days or you will need to have the loan officer update it.

Check out some great resources:

Let us know what questions you have or what kind of information you are looking for so we can direct you to it.

Market update Fox Valley week 45. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 44

Posted on October 31, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 44

Market update Fox Valley week 44. New listings of single family homes this week are steady as she goes. 189 this week compared to 186 the week before. That is consistency! We don’t like consistency right now. There is not enough homes for the buyers that are looking. Multiple offers are the norm. Prices keep going up and are sometimes having a problem when the appraiser turns in their report.

Closed listings of single family homes are up 15.47% 306 this week compared to 265 the week before. This is to be expected with the end of the month when most buyers want to close.

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

Aurora-New 27 $120,000-$565,000

Closed-49 $115,500-$489,900

Bolingbrook-New 10 $188,000-$579,000

Closed-21 $160,000-$411,500

Geneva-New 5 $279,000-$525,000

Closed-17 $220,000-$1,200,000

Naperville-New 32 $259,999-$2,250,000

Closed-61 $266,000-$1,251,500

Oswego-New 9 $279,900-$450,000

Closed-14 $179,450-$465,000

Plainfield-New 16 $239,900-$675,000

Closed-30 $160,000-$992,500

St Charles/Campton Hills-

New 13 $290,000-$1,000,000

Closed-15 $178,000-$800,000

Sycamore-New 11 $169,900-$330,000

Closed-8 $168,900-$569,000

West Chicago-New 12 $219,900-$685,000

Closed-7 $150,000-$525,000

Yorkville-New 12 $199,000-$575,000

Closed-15 $215,214-$415,000

Contracts accepted this week

Contracts accepted this week on single family homes were down 12.75%. 267 this week compared to 306 the week before. Inventory is slowing down not buyers. If you need to sell, get it on the market. Buyers are waiting for new listings to come on the market.

Look at the communities sellers accepted the most contracts this week:

Aurora-40 Bolingbrook-18

Geneva-13 Naperville-40

Oswego-14 Plainfield-31

St Charles/Campton Hills-30 Yorkville-11

2 short sales were accepted by sellers this week. 1 each in Montgomery and Winfield. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours and 11 with 48 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and 8 with 48 hours.

2020 by the month and a look back at 2019 and 2018

2020

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

Totals 11263 9913 12664

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

August 1585 1330 1196

September 1164 765 869

October 1041 738 776

Totals 13736 8666 10511

2018

January 808 489 606

February 1040 444 856

March 1549 907 1564

April 1515 836 1278

May 1569 1066 1344

June 1828 1720 1474

July 1318 994 1061

August 1294 1032 989

September 1479 1093 1078

October 1042 712 748

Totals 13442 9293 10998

The closed column is the most important. These are actual numbers. There were more closings in 2020 than there was in the previous 2 years and with less new listings to sell. People that are not paying attention to the market don’t understand the need that is out there for people looking for a home. They think because of the pandemic that not much is going on. New construction has helped with some of the buyers looking for a home. Inventory has continued to be so very low.

New listing numbers are not accurate. Some of these have been relisted as new when they are not new listings.

Contracts accepted are not accurate either. Some of these end up coming back on the market. It could be a number of reasons like inspection issues that could not be resolved. They might not make it passed the attorney review. Some of them have appraisal issues like they might not come out to appraised value with prices going up or items that need to be fixed.

2020 has turned out to be a pretty good year for real estate and it is not over yet.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Are you thinking about selling? You can request a home valuation and we will let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of the expenses to sell so you can see where you are at. This will be updated when you find a home and we know all the terms.

Thinking about buying a home? Your first step is to contact a loan officer to get pre-qualified so you know what type of loan and what price range will work out best for you. Get a couple years tax returns, pay stubs and everything you pay monthly and bank account information together and give them a call. If you need recommendations let us know.

Check out some great resources:

We will guide you throughout the process. Let us know what questions you have.

Market update Fox Valley week 44. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 43

Posted on October 24, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 43

Market update Fox Valley week 43. New listings of single family homes are down 12.26%. 186 this week compared to 212 the week before. Inventory remains extremely low and this is not going in the right direction. If you have been thinking about selling what are you waiting for? Low competition is what you want.

Closed listing of single family homes are down 6.36%. 265 this week compared to 283 the week before. That is not down by too much. Next week is the last week of the month so they it should be higher next week.

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

Aurora-New 30 $134,900-$469,900

Closed-32 $118,000-$440,501

Batavia-New 6 $174,900-$595,000

Closed-10 $145,500-$705,000

Bolingbrook-New 9 $269,700-$465,000

Closed-16 $175,500-$510,000

Geneva-New 3 $314,900-$449,900

Closed-10 $235,000-$451,500

Naperville-New 35 $245,000-$3,650,000

Closed-37 $227,000-$1,162,500

Oswego-New 16 $195,000-$489,900

Closed-20 $177,500-$490,000

Plainfield-New 27 $195,000-$589,900

Closed-38 $89,000-$640,000

St Charles/Campton Hills-

New 16 $325,000-$1,175,000

Closed-25 $110,000-$900,000

Yorkville-New 6 $250,000-$499,000

Closed-18 $220,000-$427,000

Contracts accepted this week

Contracts accepted this week were pretty consistent. 306 single family homes this week compared to 297 the week before. Buyers are still out there ready to go. They are having a hard time finding a home. When they do find a home there are multiple offers they have to compete with. It continues to be a sellers market. Prices are going up with low inventory. Some are getting priced too high and are having a problem when appraisal comes in.

Look at the communities sellers accepted the most contracts this week:

Aurora-42 Bolingbrook-30

Elburn-10 Geneva-21

Montgomery-13 Naperville-30

Oswego-16 Plainfield-29

St Charles/Campton Hills-22 West Chicago-10

Winfield-10 Yorkville-10

5 short sales were accepted by sellers this week. 2 in Bolingbrook and 1 each in Aurora, Plainfield and Sandwich. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 7 with a kick-out clause of 72 hours, 15 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 4 with a kick-out clause of 72 hours, 7 with 48 hours and 1 with 24 hours.

2020 market update by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 654 810 892

Totals 11074 9607 12397

So far this year September is the best month for single family homes that have closed. This column is the most important one to look at. These are actual numbers. New listings can be ones that have been canceled, expired or relisted again so these are not actual numbers of different homes that came on the market. Also contracts accepted can be reactivated if things do not go right with the home inspection, attorney review or maybe the buyers loan did not get approved.

Check back with us every Saturday for the market update Fox Valley. At the end of every month we will also compare 2020 to 2019 and 2018 so you can see how this year is going compared to those 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.

Do you or someone you know want to sell their home? Request a home valuation and we will also provide you with a net proceeds that shows you an estimate of expenses to sell. 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? Get 2 years of tax returns, pay stubs, car loans, credit card information and any other payments you make regularly together and contact a loan officer so they can get you pre-qualified. Keep this information together in a file so it is easy to get to. Once they give you a letter stating what you qualify for and what type of loan will work best for you then you will be ready to start looking at homes. The letter they give you will go with your offer when you find a home. This will show the seller that you do qualify for their home.

Check out some great resources:

Types of loans and the process
VA loans and the requirements
Current interest rates
Down payment assistance
Illinois homeowners assistance and some communities

Let us know what questions you have.

Market update Fox Valley week 43. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101