Lisle, IL

Almost half way through my plan...

It was cool and windy today. Typical for late October.

I was delvering more newsletters today.

My target was River Bend, one of the best little subdivisions in the suburbs, located in Lisle Illinois. Just off Route 53 and 59th Street, these homes are an easy 5 mile drive from downtown Naperville. The townhomes, very attractive with brick fronts, sell in the mid to high 200's.

I have good memories of River Bend. I proposed to my wife Nicole here. We lived in our home (pictured below) for 5 years before we had Erin. It's a great neighborhood...

I had 140 copies of the Ken's View in my bag. Daughter Erin was with me...

She is my little Realtor in training. We are currently in negotiations for her purchase of Team Tracy in 2030. :)

Sometimes she didn't work so hard...

As we walked, we ran into a few old neighbors. It was nice touching base.

The real estate market is clearly on everyones mind. A very different feel than two years ago...

People scared. People speaking of waiting 3 to 5 years before moving.

But feelings will change.

This too shall pass.

Ken

A Realtor you can trust.

A home I know quite well just came on the market in my farm area, River Bend. I met with the homeowners last spring.

At that time, the homeowners were interested in selling their townhome and buying a bigger home in nearby Naperville.

They asked me about pricing. I explained to them where there home would stand in the market.

They were hoping to sell their townhome for about $350K. At the time, it would have sold for around $310K. They were disappointed and chose not to put their home on the market.

I showed them a few homes last spring just the same...

And a few more this spring...

A few months back, they put a FSBO sign on their home. I have no problem with someone trying to sell their home by themselves. Everyone wants to save a buck, and if they want to try it, more power to them. However...

Last night while doing a little research on the MLS, I discovered their home had been put on the market by another agent. (I had to do a little extra searching. It wasn't listed in River Bend.)

The asking price, $329,900. I pause even writing that...

This is a home that will sell for no more than $280K in todays market. I am sure of that.

It makes me wonder, what the heck is the agent thinking? Do they even care if the home sells? Are they just hoping for a sign in the neighborhood??

When I read about the 11 month supply of homes on the market, I think it completely misrepresents what is going on.

Homes are selling. Selling quickly. Don't believe the statistics.

Overpriced homes don't sell.

Take it to the bank.

Ken

To buy or sell a home, call me anytime at 630-697-0536.

Just curious.

Are we all just "being positive"?

Or am I the only Realtor who is not ALWAYS AT A CLOSING?

-Ken's skeptical look

Look, I have already documented how I AM A HORRIBLE REALTOR, but I am still ridiculously slow for this time of the year.

Yet from what I read on Active Rain and hear from fellow Realtors, agents must be all driving around in Porches and Rolls Royces.

I just don't believe that Realtors are as BUSY AS THEY SAY THEY ARE.

I ran into an agent the other day while farming River Bend.

She did not know I was a Realtor so she was quick to tell me "Homes are really selling again!"

Look, I know the numbers. I know how many homes are selling.

I am also on the street, talking to people.

People are scared right now. They are worried about the real estate market.

They are worried about the equity in their homes.

The homes that are selling are the ones that are priced to sell.

So no more lying.

Are you really that busy?

Ken

To buy or sell a home from a guy with plenty of time for you, call me anytime at 630-697-0536. :)

I was sitting on the couch with my 9 year old niece this morning. I was drinking my coffee, reading the paper, and CNBC was on in the background.

"So how is the real estate market, Dylan," I asked.

It felt good to ask someone else this. As a Realtor, I am asked this question many times every day.

I was curious how a 9 year old girl would answer the question.

"I have heard that it is not very good," Dylan answered.

"Where did you hear that," I followed up, nervous she would name me as the source of her gloom.

"I think I heard it on the TV," she said.

Well, at least it didn't come from my mouth. Although I am the one who watches CNBC religiously.

Bad Ken.

So, if a 9 year old girl thinks the market is no good, what must homeowners be thinking???

So how is the real estate market?

Back in 2001, my young fiance Nickie and I put down earnest money on a townhome to be built in Lisle. The home would be beautiful, and end unit loaded with upgrades.

After a many anxious months, the home was completed and we closed in March of 2002 for about $280,000.

We loved living in the home. Great neighbors, great space, awesome windows. A perfect place for us.

After 5 years, a marriage and the birth of our little girl, we regretfully decided it was time to move on.

So, in August of 2006, we put our home on the market. Inventories had been rising. There was 15 homes on the market in the subdivision. We knew we would have to price competitively.

We priced the home at $349,900. We had a contract offer in 8 days and closed on the home for $346,000 soon after.

It was truly a bittersweet time.

Many neighbors thought we had sold too cheaply. Friends asked if we had "given" the home away.

The home was very nice, after all.

The point of the story??

Well, the buyer of my home got a job transfer soon after buying the home. He put it on the market after only a year of ownership.

First at $349,900. He wanted to recoup his purchase price.

Then at $329,900. Months had passed. He needed to sell.

Then he took it off the market. It had been 10 months (with another Realtor). Selling a home can be a very frustrating time.

He called me a couple months back. He wanted to know what I thought of the current market.

I told him I could get it sold for $295,000 to $315,000. It felt quite awkward. After all, he had purchased the townhouse from me for MUCH higher less then two years earlier.

He decided to go in another direction, and chose another Realtor.

They put the home on the market for $312,000. It came under contract in 16 days.

I must admit, I was jealous. Having a high visibility listing in one of my farm areas come under contract in 16 days?? This would have been good for my business.

The home closed yesterday. The final selling price???

$280,000.

Wow. Everything does come full circle.

Ken

To buy or sell a home, call me anytime at 630-697-0536.