It’s a Seller’s Market

KCM supply

Nationally, the housing inventory is down 0.5% from last year (we have a 4.6 month supply). Mortgage interest rates are still under 4%, and Fannie and Freddie just released some new programs for down payments as low as 3%. What does this mean? If you are thinking of selling your home, please contact me, as there is a good chance there is a buyer out there waiting to buy it!

Average Sales Prices are UP!

 

The Graph below shows us that Lombard, Villa Park, and Elmhurst are all experiencing higher average sales prices (for detached single family homes), and Villa Park has risen the fastest, making the largest gain in the past three years.

 

 

Why Use An Agent?

Selling Your Home? The Importance of Using an Agent

by on March 2, 2015 in For Sellers, Move-Up Buyers

Selling Your Home? The Importance of Using an Agent | Keeping Current Matters

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past two years, 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ most recent Profile of Home Buyers & Sellers.

However, the report also revealed that for the second year in a row 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know.

Buyers search for a home online but then depend on an agent to find the actual home they will buy (53%) or negotiate the terms of the sale & price (31%) or understand the process (63%).

Stephen Phillips, the Chief Operating Officer for HSF Affiliates LLC, put it best:

“Home buyers are more informed than ever with their Internet searches and ongoing research; however, there’s a critical need to transform that information into analysis and advice that helps consumers make the best home-buying and selling decisions.

The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots”. This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

**If you are curious about your home’s worth, please contact me for a complimentary CMA, or refer me to someone who is considering selling their home.**

~ Jeanne

Consumer Confidence at Highest Level in Over a Decade

Feeling like things are getting a little better?  Read on…


Consumer Confidence at Highest Level in Over a DecadePosted: 10 Feb 2015 04:00 AM PST

Consumer Confidence at Highest Level in Over a Decade | Keeping Current Matters
Two recently released reports reveal that the American public is starting to feel much better about the U.S. economy. The University of Michigan’s Surveys of Consumers showed that:

“Consumer optimism reached the highest level in the past decade in the January 2015 survey…Consumers judged prospects for the national economy as the best in a decade, with half of all consumers expecting the economic expansion will continue for another five years. The anticipated strength in the overall economy has been accompanied by more favorable income and employment expectations.”

Here is a chart showing results over the last decade:

Consumer Optimism | Keeping Current Matters As all consumers are feeling more optimistic, more young adults are moving out of their parents’ basements and into a residence of their own. The recent Census report shows that new household formations skyrocketed in 2014. Below is a chart showing the historical significance of the numbers:

Household Formations | Keeping Current Matters

Bottom Line

The economy is definitely improving and, more importantly, the American consumer is beginning to feel much more confident. This should lead to a very robust real estate market in 2015.

Courtesy of the KCM BLOG

Photos with Santa

Pictures with Santa 2014

J.W. Reedy 2014 Decorating Contest

JW Reedy Decorating Contest

Good Read: Article Featuring J.W. Reedy History

 

 

JW Realty And Kit Homes Part Of Area History

SPONSORED • Published: Thursday, Oct. 9, 2014 9:46 a.m. CDT • Updated: Friday, Oct. 10, 2014 10:40 a.m. CDT

Based on principles like integrity, attention to personal service and detailed follow-through, JW Reedy Realty has been helping customers discover their dream homes in towns like Villa Park and Lombard for more than 85 years. Part of this long record of success in local real estate can be traced to the historic kit homes that were shipped to the area by rail from stores like Sears and Montgomery Wards.

“The lumber and pieces were numbered, and you put them together almost like tinker toys,” Jean Reedy Baren recalls. Her grandfather, J.W. “Jack” Reedy, founded the business in 1928 in Villa Park. In those early days, home buyers would browse through a catalog and select a kit home, which would arrive by rail car and then be trucked to the home site ready for assembly. With parts created by companies like Lewis-Liberty and Michigan-based Sterling, the walls, rafters, plumbing, fixtures, flooring and other components of the kit homes were numbered according to the floor plan instruction booklets that came as part of the package. Billed as “modern homes” by Sears, the kit homes remained popular for years, with construction continuing into the 1940s. These quaint homes have even been recognized by the Villa Park Historical Society and Visitors Center, which has certified 11 existing homes in the town as original Sears catalogue homes.

With such deep roots in the area, the realtors of JW Realty are uniquely qualified to help you buy or sell a home in communities like Villa Park, Lombard, Elmhurst, and Addison.

Visit any member the helpful staff at JW Reedy Realty at their main offices at 1136 South Main St. in Lombard. For information visit jwreedy.com or to set an appointment, call 630-629-0016

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Suburban Life Media.

Real Estate Taxes Too High?

Real Estate Taxes Too High?

Join us for an informational workshop on appealing your property tax assessment.

Wednesday, September 24th, 2014 7:00 PM.
J.W. Reedy Realty
1136 S. Main St. Lombard

Limited SeatingRSVP to 630-629-0016 by September 19th

CURB APPEAL…YOU CAN ONLY MAKE A FIRST IMPRESSION ONCE

CURB APPEAL…YOU CAN ONLY MAKE A FIRST IMPRESSION ONCE

Today’s home buyer often drives by a home before scheduling a showing.  Want to make sure they don’t cross your house off of their list?  Take a moment to really assess your home’s curb appeal.

Curb appeal isn’t only about selling your home.   A well-tended property is a pleasure to come home to.   A curved stone path up to a neat front porch bordered by colorful flowers draws you in and is a preview of what lies inside.

So what does it tell you about a house when you are greeted by last year’s leaves piled in the flower beds, a tangle of weeds and overgrown bushes?  Remember, you can only make a first impression once.

The answer doesn’t have to be expensive.  Although professional landscaping is always a plus – with a few DIY projects, you can have a big impact on how your home presents – probably in one weekend. To get started take a slow walk around your property with a pen and pad of paper.  Look at it with a critical eye and make a list of what you would like to accomplish. Here are a few ideas.

~   Cleaning is number one.  Remove all dead leaves and debris from the property.  Limit lawn ornaments and make sure they are in excellent condition.

~   Consider power washing the home’s exterior, decks, patios, sidewalks, etc.  If that’s not possible a good rinse off with a strong hose can work wonders as well.

~   Replace or “top-off” all mulched areas.  Cedar mulch looks great a and smells wonderful.

~   Evaluate the inside of your home’s window treatments.  How do they present from the curb?

~   Consider replacing your house numbers.   An inexpensive job that can have a large impact.

~   Consider replacing your mailbox or front porch light.  Coordinating these items has the best effect.

~   Install a new front door mat – and don’t scrimp, make it of high quality.

~    Lastly, add colorful annual flowers, in pots or in the flower beds.  It’s best to choose a color or two and stay with them for uniformity, then add a splash of multi-color in an area where you wish to draw the eye.  Maybe in the back of a yard which you want to appear larger.

Today’s home buyers are tired of the distressed properties of the last several years.  They are looking for a home to fall in love with.  You can start by getting them in the front door.

Jeanne Jordan, Realtor

630-334-1520

REFINANCING OPTIONS FOR HOMEOWNERS “UNDERWATER”

If you have wanted to refinance your mortgage to enjoy the lower interest rates now available, but couldn’t do so because the value of your home had declined – there may now be an option for you.

The Home Affordable Refinance Program (HARP)  that rolled out in 2009 helped many homeowners, but due to requirements in the program millions more could not take advantage of it.  Now that has changed.  The new HARP program is worth looking into. With the new program there are no appraisals, less paperwork and lower fees.

If you are current on your mortgage and if Freddie Mac or Fannie Mae backs your mortgage you may be eligible.  To find out visit:

https://ww3.freddiemac.com/corporate/    AND   https://knowyouroptions.com/loanlookup

For more information about the new HARP program visit www.HARP.gov