Tag: The Glockler Group

Homes for Sale in Homer Glen, Illinois

Are you looking for a home in Homer Glen? We are three generations in Homer, two generations of Real Estate, putting clients’ interests first. We know the market unlike any other we’ve met. We have been working in the Homer area (back before it was Homer) since 1978! Thinking of buying or selling in Homer Glen or the surrounding areas? We look forward to the opportunity to work with you. Please call (708) 529-JUDY and see why working with The Glockler Group makes all the difference.

Click here for the most recent market update video at the time of this writing. 

Click here to see a current list of homes and land for sale in Homer Glen.

Lastly, here is our website solely focused on Homer Glen homes and land.

 

Orland Park Real Estate Market Update – March 2018

How is the Orland Park, Illinois residential real estate market? Click play on the video below to learn more about the Orland Park real estate market activity for March 2018.

Overall, the number of active listings is down 29% from last year and down 7% from last month. The days on market is down from last year, a positive trend in the local inventory turn over rate. With fewer homes for sale than this time last year, it might be a great time to sell. If you are on fence, or would like to know what your home is currently worth, go ahead and give us a call. Mortgage rates are also expected to increase, so consider that as well.

Thinking of buying or selling We are local – and based in two Coldwell Banker offices including one in Orland Park.  Contact The Glockler Group – award-winning client service & expertise for over four decades.

 

Naperville Real Estate Market Update – March 2018

How is the Naperville, Illinois real estate market? Click play on the video below to learn more about the Naperville real estate market activity for March 2018.

Overall, the number of active listings is down 22% from last year and up 8% from last month. The days on market is down from last year, a positive trend. With fewer homes for sale than this time last year, it might be a great time to sell. If you are on fence, or would like to know what your home is currently worth, go ahead and give us a call. Mortgage rates are also expected to increase, so consider that as well.

Thinking of buying or selling We are local – and based in two Coldwell Banker offices including one in Naperville. Contact The Glockler Group – award-winning client service & expertise for over four decades.

 

Competition is Coming, Are You Thinking of Selling Your Home?

Competition is Coming, Are You Thinking of Selling Your Home? | Keeping Current Matters

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year.

How will this impact buyers?

More inventory means more options. Lawrence Yun, NAR’s Chief Economistexplained this is good news for the housing market – especially for those looking to buy:

“This rise in single-family housing construction will help tame home price growth, and the increase in multifamily units should continue to help slow rent growth.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it
  2. A quick sale as buyers have so little to choose from
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Chief Economist Nela Richardson, added:

“Because existing home inventory has been so low for so long, new construction is taking a larger share of the market…Builders meet the buyers and see the demand firsthand.”

Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure you get the most attention for your listing and the best price. Contact us today!

Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years

Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years | Keeping Current MattersIn today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more over the next twelve months. One major challenge in such a market is the bank appraisal.

When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.

In the latest release, the disparity was the narrowest it has been in over two years, as the gap between appraisers and homeowners was only -0.5%. This is important for homeowners to note as even a .5% difference in appraisal can mean thousands of dollars that a buyer or seller would have to come up with at closing (depending on the price of the home)

The chart below illustrates the changes in home price estimates over the last two years.

Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years | Keeping Current Matters

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges homeowners to find out how their local markets have been impacted by supply and demand:

“Appraisers and real estate professionals evaluate their local housing markets daily. Homeowners, on the other hand, may only think about their housing market when they see ‘for sale’ signs hit front yards in the spring or when they think about accessing their equity.”

“With several years of growth, owners may have more equity than they realize. Many consumers use the tax season at the beginning of the year to reevaluate their entire financial life. It also provides a good opportunity for them to consider how best to take advantage of their equity while mortgage interest rates and borrowing costs are still near record lows.”

Bottom LineEvery house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, meet with an experienced professional who can guide you through this and any other obstacles that may arise.