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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in the Northwest Side and any other EXTREMELY ACTIVE area.
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| Average Home Price | $325,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $200,000 - $249,000 |
| Worst Selling Price Range | $500,000 - $549,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Chicago Edison Park is | Increasing |
| Seller Activity for the past 90 days in Chicago Edison Park is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | On entry level, yes. Many bank owned and REO’s are seeing multiple offers and all foreclosures too! 2-4 flats are seeing multiple offers...All else, no. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 20-25% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Some sellers are becoming banks and providing seller financing! And now we have a half dozen special loan programs from military to first time home buyers to investment/rehab. |
| Housing Inventory | Very tight market |
| Inventory Comments | It looks like the entry level homes are still moving and we are seeing mid range prices move down and then these houses are selling too! Rental market booming!!! The 2-4 flats are HOT! |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Lower prices with good selection and INTEREST RATES AT 4 OR LESS! all create a perfect time to buy in Chicago Edison Park! |
| Nearest Metro Area | Downtown Chicago |
| Housing Hot Spots | Oriole Park and Norwood Park are hot too! |
| Average Sold Price | $325,000 - View Graph Trend |
Chicago Edison Park Local News
News for Chicago Edison Park, IL - May 28th, 2012 12:09pm
We can believe in the recovery! My buyers have asked to increase their price point because the inventory simply is not there...SOLD! We are getting multiple bids. BELIEVE:~)
News for Chicago Edison Park, IL - May 4th, 2012 11:30am
New developments have me busier than ever! Rates so low, prices so low that AFFORDABILITY is at a 40 year low! And now the latest laws require that all banks respond within 60 days on all short sales. If you are able...BUY, BUY, BUY! Or say goodbye to this purchasing power.
News for Chicago Edison Park, IL - March 4th, 2012 8:41am
This was my busiest January ever!!!!! Ok that's 31 years! So it seems as though we are all waking up to the fact that affordability is at its all time best PERIOD! Sure wish I had some extra $$$. 2 of my children are getting married this year and 2 are in college...so expect me to work even harder than I did those first 3 decades=your gain:~) Average sold price of single family detached now $320k!
News for Chicago Edison Park, IL - January 27th, 2012 9:53am
This has been my busiest January!!!!! Ok that's 31 years! So it seems as though we are all waking up to the fact that affordability is at its all time best PERIOD! Sure wish I had some extra $$$. @ of my children are getting married this year and 2 are in college...so expect me to work even harder than i did those first 3 decades=your gain:~)
Contact Information
Craig Fallico
847-226-0834
Request More Information Let me answer your questions!
Ask Me!
Mortgage Rates
– May 28th, 2012 –
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30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
StreetZip Code
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Request More Information Let me answer your questions! Ask Me!
Craig Fallico
RE/MAX Properties Northwest
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 847-226-0834
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