Hint of Spring Surge – Pending home sales show healthy gain
April 14, 2010
Pending home sales rose in February, potentially signaling a second surge of home sales in response http://www.realtor.org/press_room/news_releases/2010/04/phs_gain to the home buyer tax credit, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in buyer contract activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten,” he said. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.”
In the Midwest the index jumped 21.8 percent to 97.9 and is 18.7 percent above a year ago…
“Anecdotally, we’re hearing about a rise of activity in recent weeks with ongoing reports of multiple offers in more markets, so the March data could demonstrate additional improvement from buyers responding to the tax credit,” Yun said.
Walter Molony, National Association of Realtors
Washington, April 05, 2010
When choosing a Realtor during these challenging times, look for the one that has a proven sales record with the experience, knowledge of your area, and expertise that you deserve.
In a Real Estate Market where sellers are unsure of what to expect next, you can’t afford to wait for a Realtor to decide how to best market your home. Our team has been doing this successfully for over 20 years. When Something Feels Right You Stick with it… That’s Why People Stick With Steve!!
First Time Home buyers Seminar in Palatine IL
February 10, 2010
Tired of Renting?
Come join us for a FREE First Time Home Buyers Seminar.
These seminars are held Monthly at Harper Community College in Palatine, IL. Residents from Arlington Heights, Palatine, Schaumburg, and many surrounding areas in the Northwest Suburbs attend these informative sessions.
You can have all of your questions answered about purchasing your new home as well as learn some Home Buyer Tips that could save you Time, Effort & Money!
Topics for Discussion Include:
How to buy a Foreclosure
New Homes vs Existing Homes
How important is Credit When buying a Home
What Mortgage program is best for you
Do I qualify for the New $8,000 Tax Credit
Tax Advantages of Home Ownership
Do I have an Inspection before making an offer
Should I have an Attorney
You can contact us at 847-222-8686 to register or Register online at www.HomeseekerSeminar.com
Deadline for February is 2/16/2010
Seminar will take place on February 17, 2010
Harper Community College~ Building A RM 242
7:00PM-8:00 PM
When It Comes to Chicago Real Estate…It’s a Buyer’s Market
February 5, 2010
It is a buyer’s market when it comes to real estate. To be a buyer the conditions could not be better. Low interest rates, home values and inventory all point to buy, buy, buy. The only thing standing in the way is money, but if people can get money and they are in the right place at the right time, buying real estate is a great idea.
If the real estate market were a car the first time home buyer would be in the driver’s seat. Not only to first time home buyers get to take advantage of low mortgage rates, low home values, but they also don’t have to sell a home before they buy a home. There are a LARGE inventory of homes for sale in the Northwest Suburbs that you can take a look at.
There may not be a better time to be a home buyer, especially a first time home buyer, for a long time. The first part of 2010 displays ideal conditions to get out there and start looking, and not to mention the $8,000 credit that is available for First Time Home buyers.
Real Estate is Looking Good Today
February 5, 2010
The real estate market has been all over the map, today sales figures are looking good
Up, down, sideways, back and forth, it sounds like a game of hopscotch but is actually the way the economy, recession and real estate market have been moving. Mastering what is going on has had experts and professionals confounded, wondering how we can all come out ahead of the game. There is one aspect that most can agree on, good news is great to hear.
Today’s headlines show that real estate contracts are up in volume. The good news for housing affected stocks, as they increased in price. Some believe that the Spring buying season is starting early. December is rarely, if ever, thought of as a Spring month but December showed that the Pending Home Sales Index is up over 10%.
There is no doubt that the real estate industry is faring better than a year ago. To continue coming out ahead job growth needs to improve, interest rates need to remain low and consumer confidence has to continue growing. So far 2010 is looking better than 2009 and hopefully real estate sales will continue to rise.
Click here for an article at Yahoo Finance about good news in the real estate market and its effect on the stock market.
Sourced from: Kinetic Content Library
Pending Home Sales Stabilize…
February 2, 2010
Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.
The association also adjusted its economic outlook for 2010 and 2011, and projects that existing-home sales will rise from 5.19 million in 2009 to 5.66 million in 2010 and 5.7 million in 2011.
Based on contracts homebuyers signed but not yet closed in December, the association’s Pending Home Sales Index increased 1 percent, to 96.6 from 95.6 in November, and rose 10.9 percent from December 2008, when the index was 87.1.
For more detailed information regarding this article please click here
Don’t Forget to Vote on February 2 2010 Northwest Suburbs
February 1, 2010
Don’t forget to vote!
Remember that elected officials at the Federal, State, and Local level make decisions that can impact the Real Estate Industry.
The Primary Election in Illinois is Tuesday, February 2, 2010.
Polls will be open from 6:00 AM – 7:00 PM
To find your polling location in the Chicago land area please click here
Selling Your Home In the Northwest Suburbs of Chicago? Choose the Right Realtor
February 1, 2010
Take time to choose the right broker when selling your home
When preparing to sell your home it is important to find a real estate professional that will best suit your needs. A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you. When selecting your real estate agent here are a few things to keep in mind:
Data.
Get a prospective Realtor to bring in a copy of what they have listed and closed. They can present you with an MLS report that displays their inventory.
References.
Get references from a potential Realtor and call them. Find out what other people’s experience with a particular Realtor has been.
Plan.
What does your Realtor plan to do for you in terms of marketing, sales, listing, etc. Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.
Real estate is often a person’s most valuable asset. Do your legwork and choose the best broker for your home. He or she should be a salesperson. If they can sell themselves to you perhaps they are halfway to selling your home for you as well.
There are many reasons to Sell your Home with The Stick With Steve Team….
We have a TEAM approach—We are 4 licensed realtors for the price of ONE, all working TOGETHER for YOU!
We help an average of 75 families buy or sell a home each year
We average one sale every 5 days
We offer Professional home staging by our interior decorator partner
We also offer a FREE professional home cleaning for up to 3 hours
We get you RESULTS!
For more great valuable information regarding selling your home in the Northwest Suburbs or Arlington Heights, Palatine area click here
Moving Day Often Arrives Sooner Than Expected
February 1, 2010
Moving day can run a lot more smoothly if you are prepared
When you’re buying a new house, moving day can creep up on you before you know it and staying organized can help make the entire process run more smoothly and keep stress levels to a minimum. Some things to keep in mind that will make moving easier are:
Book your moving company. Book a moving company well ahead of time and by being a client of the StickWithSteveTeam you will be able to get a FREE Moving Kit from Von Sydow’s moving company (i.e. if you use their services). Leaving this step until the last minute could leave you without a solid moving company to use.
Packing. Start packing well ahead of time, three or four weeks ahead of schedule may seem early but packing is time consuming and having everything boxed, labeled and organized will make moving easier. Start with items that you know you won’t need or can live without and by the last week have only your essentials left. Storing your boxes in an unused room or the garage will make it easy for the movers to collect and move on moving day.
Survey your new home. Know where you want to put things well before you ever move your belongings in. Take a good look at each room and know where you want your furniture to go. This will cut back on time and make everything run more smoothly for the movers.
In a nutshell, the more prepared you are to move, the easier the entire transition will be.
Call our office today for more details on how to become a client of the StickWithSteve Team as well as enjoy the great benefits of working with some of the best vendors in the Chicago Northwest Suburbs.
We also offer a Moving Truck FREE of charge if you are a client of The Stick With Steve Team. Non for Profit organizations are also able to use the Truck for Free as well.
Click here to reserve our Free Moving Truck.
If You are Selling your home…An Inspection Can Make or Break Your Deal
January 28, 2010
Be prepared for what a home inspection might reveal when selling your home
Home inspections can often make or break a deal. If possible sellers should have one done ahead of time so repairs can be made and a home can be in its best possible condition. However, often a seller does not do a home inspection first and is caught off guard by a long list of repairs presented in the due diligence portion of the contract process.
The most common home ailments that show up in the home inspection process are:
- Faulty electrical wiring
- Roof damage
- Plumbing issues
- Poor drainage
- General lack of upkeep
These are issues that can add up to a potential home buyer walking away if a seller is unable to step up and make the repairs or commit the money to make the repairs. Examine these aspects of your home yourself, if you know everything is in good condition and the work that has been done to your home has been completed by professionals then you can rest easy, otherwise be prepared to make repairs in order to sell your home.
Contact the Stick With Steve Team for additional information on a ways to prepare your home before putting it on the market.
To view an article on home inspections by Realtor Magazine, click here.
Hurry!Buy a Home in The Northwest Suburbs, Get a Tax Credit through April 30, 2010
January 6, 2010
Not only is it one of the best buyer’s markets in years, but a tax credit of up to $8,000 for first-time buyers–and up to $6,500 for long-time homeowners….Could mean extra money in your pocket!
Who Can use the homebuyer tax credit?
First-time buyers and long-time homeowners who buy a replacement principal residence. (The law defines a first-time buyer as an individual who has not owned a home in the three years prior to the day of purchase. According to the IRS, the long-time homeowner must have lived in the same principal residence for any five consecutive-year period during the eight-year period that ended on the date the replacement home is purchased.)
How much is the credit?
For first-time buyers the credit is equal to 10 percent of the cost of the home up to a maximum of $8,000 (or $4,000 for a married individual filing separately). For long-term homeowners, the credit is equal to 10% of the purchase price up to $6,500 (or $3,250 for a married individual filing separately).
What is the deadline for using the tax credit?
Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy a principal residence on or before April 30, 2010 and close on the home by June 30, 2010.
For additional information regarding the tax credit click here or contact The Stick With Steve Team to purchase a home in the Northwest Suburbs of Chicago.
