Buffalo Grove Real Estate Market Update

Buffalo Grove Real Estate ActivityThe real estate market continues to heat up as we head into the summer. Remember, price is determined by the supply and demand of the product. In this case,the product is housing. Demand or activity is up on a month to month basis. The supply or inventory is down to 5 months for single family homes in Buffalo Grove. The active inventory is still only in the upper 80′s.

Rates are at an all time low. Will the “shadow inventory” tamp down any price increases? Time will tell. But,if you find the house you’re looking for, or are thinking about selling now, it’s a choice of the known vs the unknown.

If you would like information  for where you live, just let me know. I’d be happy to help. Have a joyful and safe summer.

Bonus Information- 5 Tips To Keep Your Information Safe

You don’t realize how important your personal information,or your email is,until it gets hacked or stolen. If I can make one recommendation,don’t use the same email for all your accounts.If you do you’re asking for trouble.

Take a look at the 5 Tips I’ve enclosed,so you can avoid any future problems.

Download 5 Tips to Keep Your Information Safe

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Buffalo Grove Real Estate Market Continues To Improve

Buffalo Grove Real Estate MarketAs I mentioned to my clients in a previous email the Buffalo Grove real estate market is picking up steam.  It’s not in all areas , or price ranges but it is moving. Pricing is slowly picking up, especially in 3 bedrooms. The 4 bedroom homes are almost showing a gain.

In Buffalo Grove single family, there are only 87 homes on the market that are not in any contingency. We now have inventory at only 5 months. The marker for a healthy market is 6 months, for buyer and seller. Don’t over analyze the numbers. It’s still a crazy market as a whole . We’re just seeing bright pockets out there.

If you were planning on making a move, now is a good time to be thinking about it.  Interest Rates are scary low. Just food for thought.

If you have any questions about what’s happening where you live, please don’t hesitate to contact me . I’ll be happy to help.

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Plumbing Tips For Buffalo Grove Area Home Owners

Real estate is more than just buying and selling homes. Although I specialize in helping my clients buy and sell homes in Buffalo Grove and the surrounding areas, my goal as your Realtor® For Life is also to provide resources to maintain and improve your home. I have a Special Report- Quick Fixes For Plumbing Problems that you can download.

If you would like a referral to a plumber or any other trade, please don’t hesitate to ask me.

Plumbing tips for homeowners

Download Quick Fixes For Plumbing Problems

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The Spring Real Estate Market Has Started in Buffalo Grove

Buyers Bring Your Checkbook

It’s that time again. The Spring Market is here.  But,who is buying in the Spring Market?

We are going to see first time buyers, some Gen X buyers-1965-1979, and Gen Y buyers-1980-1995. Now,according to Trulia,88% of 18-34 year olds, who are renting, still want to buy. Also, according to a survey by Coldwell Banker for First Time Homebuyers, 67% viewed this market as an opportunity to start looking for a house, sooner than later.

Those buyers, 40% of them, who were looking, also found that they were able to get more space than expected. The Gen Y’ers, are looking for the space they need, not the space they can afford, they still want to be close to work, recreation and transportation. They have no allusions of making “big” money, unless all hell breaks loose again. They also want a “turnkey” situation, come home, turn the key, done. So if you’re looking for more bang for your buck,great schools,recreation and transportation, the Buffalo Grove area is the place to be. Let me know if I can answer any questions for you.

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The Buffalo Grove Spring Market is Starting-Football is Over

Usually, the Spring Market real estate in Buffalo Grove real estate doesn’t start until the Bears are out of the playoffs. Really, as long as the Bears are playing, no one is thinking about real estate. Well this year it took a little longer to start the spring market. Now,that’s a good thing and since the Super Bowl is finished, can you believe it…the Packers, who would have thunk it, we can get started with real estate again.

The question everyone is asking themselves is should I wait? Aren’t prices going to go down further? The answer is, no and yes. I believe that for 2011, prices in the Buffalo Grove area will drop between 3-5%. If January is any sign of what’s to come, we saw single family home sales drop from January 2010 to January 2011. But what we also saw was that prices stayed the same. Hey, it’s a start.

But here’s the bigger question, if I wait what will my real costs be? You know, the price of the house and the interest rate I’ll be paying. Interest rates are on the rise, the rate in November was 4.17%, the rate today is over 5%. Even is prices fall 5%,but rates go up 1%,your costs over time will be greater.

So if you’re thinking of buying a house, go ahead and factor in what you believe to be the price drop, knowing, that if rates rise, and they will, it will cost you more. The bottom line is your cost.

If you have any questions, please don’t hesitate to contact me. Happy Buying!

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NORTH SHORE GOURMET GROCERY STORE TO OPEN IN LONG GROVE/BUFFALO GROVE AREA

NORTH SHORE GOURMET GROCERY STORE TO OPEN IN LONG GROVE/BUFFALO GROVE AREA

Sunset Foods is scheduled to open its 5th store on January 26th. Located on Aptakisic and Rt 83 in Long Grove, this 50,000 square foot store will have everything you always wanted but didn’t want to travel for. Well, travel no more, it’s all going to be here  right in Buffalo Grove’s back yard.

If you’ve never experienced shopping at Sunset be ready for a feel good experience. You’ll find everything you need coupled with great service. I don’t want to spoil any more surprises you’ll find there, so go and let me know what you think.

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What Are Buffalo Grove Real Esatae Prices Going To Do?

SHOULD I BUY NOW OR LATER?

Price graph for Buffalo Grove Real EstateThis is a question people keep asking me on a daily basis. Let’s look at some basics. Real estate inventory in the Buffalo Grove area is going up, unfortunately buyer interest is not going up at the same pace. Prices were down, counting all single family homes in Buffalo Grove, from 2009-2010 -2.8%. There will probably be more short sales and foreclosures based on people who bought in 2005-2006 with either 5 or 7 year interest only loans.  When those loans reset,there will be more homes to coming on the market, and a good chance prices will go down. My feeling is we will see a decrease of 3-5% in single family prices.

All of this is predicated on the economy and jobs. The other factor is interest rates. My feeling is interest rates will rise, slightly, but never the less rise. A 1% rise in interest rates means a buyer loses 9% purchasing power.

So you have to decide what do you want to gamble on, price or rate? Still not sure what to do,but would like to lock in a low rate. Call me, I’ll tell you how we can play it.

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Condo and Townhome Sales-Buffalo Grove

Buffalo Grove Real Estate Sales Condo’s and Townhomes

The number of transactions remained nearly the same for 2009 and 2010.

The sales prices fell 12.6% from 2009 to 20010.

The sales prices from 2007-2010 fell 18.9%

Buffalo Grove Condo Sales 2010

Are you thinking of SELLING/BUYING? Have to consider a short sale or foreclosure? Call me at 847-867-2972, or email me at your convenience.

Now is the time to go to a professional to get a true assessment of your situation.

Aerial Photos© Copyright 2011. Pictometry International Corp

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Buffalo Grove Home Sales Over $500,000

The other day we looked at the results of detached homes in Buffalo Grove in relationship to prices,and how they did from 2007-2010,and from 2009 -2010.Let me add one more piece of information regarding homes from $500,000+

Homes Priced from $500,000+ Buffalo Grove

From 2009-2010-Units sold went down from 145 in 2009 to 107 in 2010.Sales prices dropped 3.7% from 2009 compare to 2010

From 2007-2010-Units remained the same for 2007 as well as 2010.Sales prices dropped a cumulative 7.2%,when comparing 2007-2010.

Buffalo Grove Homes Priced over 500000

Are you thinking of SELLING/BUYING? Have to consider a short sale or foreclosure? Call me at 847-867-2972, or email me at your convenience.

Now is the time to go to a professional to get a true assessment of your situation.

Aerial Photos© Copyright 2011. Pictometry International Corp

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Buffalo Grove Real Estate Sales and Outlook

Buffalo Grove Market Comparison 2010-2011So, it’s a new year, 2011. Let’s take a look at how real estate in Buffalo Grove has been doing.

If we take a look at all detached residential sales in Buffalo Grove for 2010 we come up with 230 units. This is an increase from 2009 when there was 208.

But how are prices doing?

If we compare 2009 to 2010 we see a decrease in average sold prices from $360,327 in 2009 to $350,170 in 2010. Approximately 2.8% less.

Go back to 2007 till 2010 and you will see at drop in prices of 16.1% for detached homes for Buffalo Grove real estate.

It appears the worst is over. We should be bumping around the bottom for 2011, with a little rebound starting in 2012.

If you have questions about the current market conditions or would like to buy or sell in Buffalo Grove or the surrounding areas, please don’t hesitate to call me at 847-465-3639 or email me

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