Author Archives: John Plepel
Understanding Real Estate News
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If you own a television you know that there are a lot of reports about the national real estate market. While these reports make good headlines, it can be difficult to understand what they mean for your home or purchasing decisions.
Here is a list of the most common news reports about the real estate market:
“Real Estate sales were down (or up) last month”
“Real Estate values were down (or up) last month”
“Foreclosures were down (or up) last month”
“Home starts were down (or up) last month”
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The Cost of Waiting For Prices To Fall
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I came across this article from another Real Estate Blog that I read and thought it was well written. It is written from a national I feel this all applies to our Oak Park and River Forest real estate market … Continue reading
2010 Average Real Estate Sales Price Up in Oak Park
Posted by in Market Reports, News, Oak Park
Tagged Home Sales, Market Reports, Oak Park Market Data, Oak Park Real Estate
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For the first time since 2007, the average sale price for single-family homes increased in 2010. Before we declare the housing slump over, we do need to acknowledge that Continue reading
River Forest Property Declines May Be Misleading |
At first glance, it appears that property values in River Forest realized another significant loss in 2010. A closer look at the numbers, however, indicates that the largest factor in the 9.44% decrease in the Average Sales Price for River Forest Single-Family homes may be exaggerated Continue reading
Average Home Sales Continue to Fall in Forest Park |
The Forest Park Real Estate Market was a little late to the overall real estate market downturn, holding property values steady in 2007 and 2008 when many communities were showing significant losses. Unfortunately for local homeowners, like myself, we more than made up for lost time Continue reading
Average Sales Price in Riverside Up 6.3% in 2010 |
After two years of falling property values, the average sale price for a single-family home in Riverside rose 6.3% to $430,108. Additionally, the number of homes that sold in the 2010, which has decreased every year since 2004, also increased. Continue reading
2011 – The Year Real Estate Returns to Normal??
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Tagged Oak Park Real Estate, River Forest Real Estate, Riverside Real Estate
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This is the year that normalcy returns to real estate. People will buy and sell based on the desire for a better life for themselves and their families. They will realize that is the true value of homeownership and they will be willing to pay for that value. Continue reading
Attention Sellers: Welcome to the Spring Market |
The bottom line is that although the Spring may seem far away it will be here much faster than you think. In most years I usually say that the unofficial start of the Spring Real Estate market is basically Valentine’s Day (mid February). With all of the uncertainty of how things will play out, I am recommending that serious sellers have their homes on the market in mid-January.
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What is good for the economy is not always good for mortgage rates. According to Charles Jones, Mortgage Consultant with Baird & Warner Financial, “Mortgage Bonds are trading sharply lower on news that our present income rates… will now be extended for an additional two years.” The price of Mortgage Bonds moves inversely to mortgage rates.
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Is this the best to Buy AND Sell? |
Perhaps for the first time in American real estate history, you must buy now and you must sell now. How can this be? Because what is important to the buyer is different than what is important to the seller. Let us explain.
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