The Perfect Storm

Posted on January 31, 2010 by timpareti

It’s the perfect storm.

Interest rates are low. Home prices are low. And the federal tax credit extension, which applies not only to first time buyers but also to current homeowners, is expected to generate more home sales.

However, this storm will pass. The tax credit expires April 30, 2010. The Federal Reserve, which has been buying up mortgage-backed securities from Fannie Mae and Freddie Mac, will stop purchasing the securities by the end of March. Once that happens, all economists agree it will drive rates up by .75 percent, and reduce affordability for thousands of buyers.

Now is the time to sell and buy!

In addition, many leading economists now say that the real estate market is showing strong signs of stability.

Yet, the real estate market remains a challenge. It is evident that if a home is priced well, and marketed correctly, then there’s an increased chance of selling in a declining market.

If sellers price and market properly, buyers will note the value, inventories will be reduced to a level where demand and supply evens out and the market becomes balanced.

Many buyers are asking how long has the property been on the market and how much has the price dropped. In other words, buyers more than ever are searching for value – a deal. It’s more important than ever for sellers to create and market the perception of value.

As an experienced Realtor and Appraiser, I have an eye for value – real and potential. I also have the experience and knowledge to gather, analyze and interpret complex real estate data – a value to any buyer and seller. In addition, I have a successfully proven method to sell homes using an effective customized and innovative marketing and advertising plan that has helped my clients get the most money for their homes in the least stressful and smoothest transactions possible.

A top producer in sales, I have been selling, buying and appraising real estate full-time for more than nine years.

Call me for a free consultation. I can help answer any question about the market, tell you exactly what to do to prepare and market your home and assist with pricing your home.

      Closed sales 

    Stat Street #   Str Name Sfx Unit # City   LP/SP     # Rms
    CLSD 4900   Foster St 105 Skokie   $90,000  (F)     4
    CLSD 10015   Frontage Rd C Skokie   $126,000  (F)     5
    CLSD 701   Ridge Rd 4E Wilmette   $132,000     4
    CLSD 7400   Lincoln Ave 612 Skokie   $155,000     4
    CLSD 9715   Woods Dr 804 Skokie   $195,000  (S)     3
    CLSD 619   Glenview Ave 304 Highland Park   $200,000     6
    CLSD 8549   Lawndale Ave   Skokie   $203,000  (F)     8
    CLSD 6787   Ionia Ave   Skokie   $230,000  (S)     7
    CLSD 704   Lamon Ave   Wilmette   $260,000     8
    CLSD 2324   Central St 4A Evanston   $261,000     6
    CLSD 90   Franklin Pl 303 Lake Forest   $270,000     6
    CLSD 1740   Oak Ave 402 Evanston   $270,000  (F)     5
    CLSD 7020   Lorel Ave   Skokie   $297,500     7
    CLSD 601   Linden Pl 124 Evanston   $310,000     5
    CLSD 1616   Sheridan Rd 7H Wilmette   $315,000     6
    CLSD 8851   LaCrosse Ave   Skokie   $320,000  (F)     18
    CLSD 1000   Manor Dr   Wilmette   $327,500     8
    CLSD 905   Columbus St   Wilmette   $338,500     7
    CLSD 8511   Kimball Ave   Skokie   $340,000     5
    CLSD 8020   Kenton Ave   Skokie   $392,000      
    CLSD 4404   Concord Ln   Skokie   $430,400     8
    CLSD 280   Hastings Ave   Highland Park   $482,500     7
    CLSD 1500   Sheridan Rd 9B Wilmette   $512,000     7
    CLSD 1720   Maple Ave 1110 Evanston   $515,000     6
    CLSD 1303   Lincoln Ave South     Highland Park   $547,500     7
    CLSD 119   Pierce Rd   Highland Park   $597,500     9
    CLSD 740   Great Elm Ln   Highland Park   $600,000     9
    CLSD 2677   Prairie Ave   Evanston   $600,000  (S)     10
    CLSD 333   Woodland Rd   Lake Bluff   $650,000     10
    CLSD 1141   Mohawk Rd   Wilmette   $650,000      
    CLSD 2652   Asbury Ave   Evanston   $770,000     9
    CLSD 2806   Lincoln St   Evanston   $785,000     10
    CLSD 2749   Woodbine Ave   Evanston   $810,000     10
    CLSD 1010   Knoll Ln   Wilmette   $843,000     9
    CLSD 1151   Laurel Ave   Winnetka   $862,500     10
    CLSD 1539   Walnut Ave   Wilmette   $867,500     10
    CLSD 2721   Park Pl   Evanston   $880,000     13
    CLSD 1212   Elmwood Ave   Evanston   $885,000     11
    CLSD 1036   Estate Ln   Lake Forest   $950,000     13
    CLSD 900   Forest Glen West     Winnetka   $1,100,000     12
    CLSD 37   Ravine Forest Dr   Lake Bluff   $1,150,000  (F)     13
    CLSD 727   Roslyn Pl   Evanston   $1,150,000     9
    CLSD 1010   Mt Pleasant Rd   Winnetka   $1,500,000     10
    CLSD 345   Sunrise Cir   Glencoe   $2,900,000     13
Copyright 2010 MRED LLC – INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT
Prepared By: Tim Pareti, ABR,GREEN - Prudential Rubloff 01/31/2010 04:24 PM

      Pending sales 

    Stat Street #   Str Name Sfx Unit # City   LP/SP     # Rms
    PEND 132   Clyde Ave 1 Evanston   $88,900     5
    PEND 9530   Lamon Pl 117 Skokie   $119,500     4
    PEND 1810   Laurel Ave 1810 Evanston   $134,900     6
    PEND 5140   Brummel St   Skokie   $179,550     5
    PEND 9626   Kostner Ave   Skokie   $209,000     7
    PEND 5117   Chase Ave   Skokie   $249,000     8
    PEND 4934   Howard St   Skokie   $273,900     6
    PEND 913   Brown Ave   Evanston   $289,000     7
    PEND 1720   Maple Ave 1680 Evanston   $307,500     5
    PEND 755   Llewelyn Ave   Highland Park   $415,000     7
    PEND 811   Oakwood Ave   Lake Forest   $499,900     6
    PEND 996   Ridge Rd   Highland Park   $594,000     11
    PEND 873   Fairview Rd   Highland Park   $799,000     12
    PEND 962   Sheridan Rd   Winnetka   $925,000     7
    PEND 920   Bob-o-link Dr   Highland Park   $1,199,000     13
    PEND 1221   Colgate St   Wilmette   $1,295,000     11
    PEND 236   North Ave   Lake Bluff   $1,495,000     11
    PEND 403   Center Ave   Lake Bluff   $1,549,000     10
    PEND 27861 N Irma Lee Cir   Lake Forest   $1,990,000      
    PEND 1215   Longmeadow Ln   Glencoe   $2,239,000     12
    PEND 233 N Deere Park     Highland Park   $2,975,000     12
Copyright 2010 MRED LLC – INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT
Prepared By: Tim Pareti, ABR,GREEN - Prudential Rubloff 01/31/2010 04:38 PM

          

Based on information from Midwest Real Estate Data for the period  Jan. 27, 2010 through Jan. 31, 2010. Listing and solds by various participants of MRED. For more real estate information, please call me at 847-512-2724 or email me at TPareti@rubloff.com

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