Buffalo Grove, IL

Here is some great infomation that will help out buyers when looking in Buffalo Grove or any Lake County Illinois Area. I was featured in Chicago Agent Magazine this month and was lucky enough to get some great answers about appraisals in the Buffalo Grove and Lake County Illinois Market and wanted to share it with everyone.

Q: SHARRON KELLEY CRS, CDPE, The Sharron Kelley Team, Coldwell Banker Buffalo Grove, 847.465.3638, sharron@northernillinoshomes.com

Q. How has the appraisal process changed and why are appraisals coming in low?

A: SHERYL ACKERSON, Vice President of Mortgage Lending, Guaranteed Rate, Inc., Skokie Branch, 847.972.5707, Sheryl.Ackerson@guaranteedrate.com

The prevalence of foreclosures in the current market is the major reason for the decline in appraised values. In the past 18 years, when there was a foreclosure an appraiser would typically be able to explain that this property was an uncommon exception to the market. In other words, both appraisers and lenders ignored this comparable. Now, nothing can be ignored and short sales and foreclosures are dominating the marketplace. Not only are appraisers using three sold comparables, but typically most also will show three current listings. If one of the new, current listings is a REO bank-owned property, it is there to serve as an indication of where the market is going.

In addition, in the past, upgrades or improvements to a home such as a finished basement or a new state-of-the art kitchen could easily add $35,000 to $50,000 to a home. Now upgrades seldom matter. In this manner, every house is affected.

Q. How do we get buyers to understand the appraisal process in today’s market?

When working with a potential buyer, we educate them that an appraisal is an independent, impartial evaluation. Only facts and figures matter; square footage and above grade bathroom counts have more to do with determining the appraised value than if there is a finished basement, new carpet and custom paint. Additionally — the timeliness of the sale — the closing date — is a principal, controlling factor. In today’s market, a comparable sale over 90 days is old news. In the past, lenders would allow comparables up to a six month period.

Another issue is the concept of “declining market.” An appraiser states that a house is in a declining market or in a market with an oversupply of inventory. In these instances, some investors are requiring an additional 5 percent down payment. This is happening more in the high-end market.

If you are looking to buy or sell a home in Buffalo Grove, Vernon Hills, Long Grove or anywhere else in the Lake County Illinois area please contact me, I would love to help you out.

Information on Buffalo Grove in house loans for Coldwell Banker

The National Association of Realtors reports that 14% of home sales were sold directly by the owner. Would you like to have a list of every qualified buyer that looks at a FSBO? Would you like to be the first the agent that a FSBO talks to when they are finally ready to list?

Historically we've asked you to tell your BUYERS to call me your local Mortgage Advisor. You know the routine...Your customer calls me and we render a lending decision in minutes and immediately let you if your customer is approved. And as always the service is FREE.

Imagine if you went to a FSBO and told them that you didn't want to list their house today. You were simply stopping by to provide some free literature. Most FSBOs have no way to ascertain if a customer is a legitimate buyer or not. Simply have the seller provide our mortgage information to every prospective customer. The seller gets a piece of mind that potential showings have been screened and that only qualified candidates are seeing their house!

You get the information on every customer that comes through the seller's house. If the seller is going to purchase another homes encourage them to get themselves approved as well and we'll start branding them Coldwell Banker and Coldwell Banker Loans so you can sell them a house or place a national referral.

This information has been provided by Cindy Hinchman our in house lender.

For more information you can contact her at 847-571-1773 or at Cindy.Hinchman@mortagefamily.com

For information on Buying of Selling a home in Buffalo Grove, Vernon Hills or Long Grove please feel free to contact me.

Great news! There are real signs that the Buffalo Grove market is improving...

As I mentioned in one of my recent posts, the number of Buffalo Grove home sales in 2010 was two times the number of sales in 2009. There is also encouraging news to report about the increase in the Buffalo Grove Median Sales Price and Buffalo Grove Average Sales Price.

The Buffalo Grove Median Sales Price in January was $250,000, up 31.0% from $190,903 in January of 2009 and up 4.2% from $240,000 last month. The Average Sales Price in January was $269,294, up 10.1% from $244,493 in January of 2009.

This is very reassuring news for Buffalo Grove Sellers. If you are looking to put your home on the market this spring, it is best to do it now. As of today , there are only 83 days for a buyer to take advantage of the first time home buyer's credit and the repeat credit. Buyers- I think we have seen the bottom of the market for a while. Act now to get the home of your dreams!

Whether you are in the market to buy a home or to sell your current home in Buffalo Grove it is important to keep abreast of the Buffalo GRove market statistics (or at least to work with a Coldwell Banker Buffalo Grove REALTOR who does.)

The above article Buffalo Grove Real Estate market is on the upswing was written by Judy Greenberg, Realtor from Coldwell Banker Buffalo Grove

If you would like more information about the Chicago Northwest Suburbs,including Wheeling Buffalo Grove, Lincolnshire, Long Grove, Vernon Hills, and Lake Zurich please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com.

My websites, www.movetolonggrove.com , www.buffalogroveareahomes.com and my blog www.judygreenberg.com will provide you all the information regardless as to whether you are a potential buyer or seller!

What is going on in the Buffalo Grove Market?

We are continuing to see home sales rise in many of the Lake Country Illinois suburbs including Buffalo Grove.

So What do you do When selling your Buffalo Grove Home?

The first step is to talk to a knowledgeable agent who knows the area. Every seller needs to look at an agents credentials and ask them:

What are you going to do to sell my home?

Our team gives your home the exposure that it needs. We come up in top searches of goggle, yahoo and even pay for sponsored searches. We advertise in newspapers in print and online. Coldwell Banker Online, Northernillinoishomes.com, Realtor.com and many other websites are the heart of our business.

We can go on and on about the website exposure your home we have but you need to see it for yourself. View our Exclusive Marketing Plan (PDF) and you will know you will be dealing with a great team, the number one team at Coldwell Banker in Buffalo Grove.

Just like Forest Gump said “Life is like a box of chocolates, you never know what you are going to get.”

Ever seller feels like they have the piece of chocolate that a buyer wants. Every buyer knows that they get to sift through the box of chocolates, take a bite and see which one they like.

I’m here to tell you that in either one of those situations you need an experienced real estate agent that is going to represent you, the buyer or seller so you benefit based on your situation.

Whether your home is short sale, you don’t have to move or want to; if you are relocating, looking to buy an investment property or you are a first time home buyer, the Sharron Kelley Team is here to help you.

Below is very useful information on the housing market in Buffalo Grove and many of suburbs in Lake County Illinois. Contact us for all of your real estate needs because we know how to get the job done.

Full YTD Detached Housing Market Report

Full YTD Attached Housing Market Report

Full MTD Detached Housing Market Report

Full MTD Attached Housing Market Report

The Sharron Kelley Team is a Buffalo Grove, Vernon Hills, and Long Grove Specialist. If you are looking to Buy or Sell in the Vernon Hills School District or Stevenson High School District we are the team for you.

For those of you who don’t know me, I am a real estate agent for Coldwell Banker Residential Brokerage located in Buffalo Grove, Illinois. The Coldwell Banker Buffalo Grove office is located at 350 Half Day Road Buffalo Grove in the Dominicks Shopping Mall.

I am pleased to announce that I recently hired a buyer’s agent Michael Koshaba

Michael has over 18 years in the busines, specializing in the NW Suburbs. He is an aggressive negotiator and great problem solver. He will support his clients from the time a contract goes together, until the day of closing and beyond.

Why did I hire a buyer’s agent?

Although this has been a rough real estate year for many, I have been very lucky that my business has been on the upswing. As most of my past client’s know, I have a passion for real estate that will that will be evident whether you are a buyer or seller. I am available for you at most times( I can't answer phones during movies, religious services and an occasional massage… but I will get back to you as soon as it is possible to unsilence the cell phone)

With respect to the sellers I represent, there is no stone unturned. With my extensive internet knowledge, and my consistent blogging posts, your home will be showcased all over the internet. Your home will also have its own website, with a matching rider on your for sale sign. You can google, the city, the neighborhood, the address and your home will be displayed on the first page of google. Besides this unbelievable market exposure, I will help you stage your home, negotiate offers, etc. Last year I had the second largest market share in the town of Long Grove.

With respect to the buyer’s I represent, I am a great negotiator, and will be very honest at all times. I always play devil’s advocate and tell you any concerns I have. Although the closets appear to you to be sufficient, most of the time they are staged. Who really owns only 4 pair of pants. My buyers appreciate my honesty and will constantly refer me to their friends and family.

If you would like to meet me, don’t hesitate to call. I always enjoy a great Latte…

Whether you are in the market to buy a home or to sell your current home in Buffalo Grove it is important to keep abreast of the Buffalo GRove market statistics (or at least to work with a Coldwell Banker Buffalo Grove REALTOR who does.)

The above article Coldwell Banker Buffalo Grove agent, Judy Greenberg hires a new buyer's assistant was written by Judy Greenberg, Realtor from Coldwell Banker Buffalo Grove

If you would like more information about the Chicago Northwest Suburbs,including Wheeling Buffalo Grove, Lincolnshire, Long Grove, Vernon Hills, and Lake Zurich please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com.

My websites, www.movetolonggrove.com , www.buffalogroveareahomes.com and my blog www.judygreenberg.com will provide you all the information regardless as to whether you are a potential buyer or seller!