Ken Tracy Naperville Illinois Real Estate

I was called by a new customer the other day. He had found my name on Google, and was excited to begin his home search...

He was preapproved, highly motivated, and wanted to look at homes as soon as possible.

After asking for specifics on the type of home he was looking for, I asked him "Would you like to see short sale listings as well?"

"Can you tell me why and why not?" he answered.

"No problem," I said.

"Why?" buy a Naperville Short Sale?

Price. Bottom line, you can get more home for the money when looking at short sales. In order to entice buyers for a short sale listing, the homes generally will be priced about 10% below the rest of the market.
With median home prices in Naperville around $370,000, that $37,000 difference offers plenty of incentive for the proper buyer.

"Why not?" buy a Naperville Short Sale

1. Condition
   In my experience, sellers of short sale listings are generally not as motivated as sellers of regular listings. It is the end to a painful experience for them. A relief because it is over, but usually not a happy time. They also have no $ motivation, since they won't be leaving the closing table with a check.
   Homes in short sale are generally not in perfect "showing condition". They often have missing appliances, dirty carpet, and often need painting. It can be difficult to schedule showings, as well.
   The homes are usually sold "as is" and the bank will generally not provide a survey.
   
   
2. Uncertainty
   When you agree to terms with a seller, it isn't time for celebration. Lots of hurdles remain between you and the closing table. Depending on various issues (most notably the experience of the listing team handling short sales), your odds of actually owning the home are never certain.
   
   
3. Time
   Short sale purchases take time. If you have an absolute deadline when you need to move, then a short sale isn't for you. The process is speeding up, but you can never be certain how long the purchase of a short sale will take.
   
   

So, if you are looking for a home with a little hidden equity, and if you aren't on a tight moving schedule, then a Naperville short sale purchase might be for you....

Ken

Lehigh Station 2011 Market Report - Aurora Illinois Real Estate

-Lehigh Station, Aurora on a sunny spring day day...

Lehigh Station, a large subdivision of townhomes located just west of Rte. 59, is located conveniently on Aurora's border with Naperville...

The homes at Lehigh Station have plenty of space, large decks, basements, and two car attached garages. They are also close to the Route 59 train station and very reasonably priced...

Lehigh Station is located in Indian Praire School District 204...

-a front stoop at Lehigh Station, Aurora on a fall afternoon...

-large back decks and two car garages are features of the homes at Lehigh Station, Aurora...

Activity in 2011

Homes Sold: 16

Average Sales Price: $188,925

Homes Currently for Sale: 2

Average Asking Price: $197,000

Lehigh Station, Aurora is on Facebook.

Lehigh Station Third Quarter 2011 Market Report
Lehigh Station Second Quarter 2011 Market Report
Lehigh Station First Quarter 2011 Market Report
Lehigh Station 2010 Market Report
Lehigh Station 2009 Market Report

Are you interested in Aurora real estate? Call me anytime at 630-697-0536 or send me an email to Ken@KensFeaturedHomes.com.

Springhill 2011 Market Report - Naperville Illinois Real Estate



-a spring day in Springhill, Naperville...

The Springhill subdivision, located on Naperville's north side, is set only a mile or so from Naperville's train station and downtown. In spite of it's great location, Springhill offers some of the lowest prices in Naperville.

Located in Naperville School District 203, the homes in Springhill sit on modest but wooded lots mixed between playgrounds and parks...


-Springhill, Naperville on a winter day...

-a sunny day in early fall at Springhill, Naperville...

Activity in 2011

Homes Sold: 11

Average Sales Price: $209,545

Homes Currently for sale: 6

Average Asking Price: $196,800

Springhill, Naperville is on Facebook.

Springhill Third Quarter 2011 Market Report
Springhill Second Quarter 2011 Market Report
Springhill First Quarter 2011 Market Report
2010 Springhill Market Report
2009 Springhill Market Report

Are you interested in Naperville real estate? Call me anytime at 630-697-0536, or send me an email to Ken@KensFeaturedHomes.com.

Lakewood Crossing 2011 Market Report - Naperville Illinois Real Estate



-a warm summer day at Lakewood Crossing, Naperville...

The Lakewood Crossing subdivision in Naperville is a neighborhood with moderately priced homes in a nice location. The homes have 3 or 4 bedrooms and two car garages. Most have basements...

Lakewood Crossing is in Indian Prairie School District 204...

-a sunny fall day in Lakewood Crossing, Naperville...

-summertime at Lakewood Crossing, Naperville...

Activity in 2011

Homes Sold: 12

Average Sales Price: $262,542

Homes Currently for sale: 3

Average Asking Price: $256,600

Lakewood Crossing, Naperville is on Facebook.

Lakewood Crossing Third Quarter 2011 Market Report
Lakewood Crossing Second Quarter 2011 Market Report
Lakewood Crossing First Quarter 2011 Market Report
Lakewood Crossing 2010 Market Report
Lakewood Crossing 2009 Market Report

Are you interested in Naperville real estate? Call me anytime at 630-697-0536, or send me an email to Ken@KensFeaturedHomes.com.

Woods of Bailey Hobson 2011 Market Report - Naperville Illinois Real Estate

-a summer morning in the Woods of Bailey Hobson, Naperville.....

The Woods of Bailey Hobson in Naperville, located just minutes from the downtown, is filled with large homes on heavily wooded lots...

The Woods of Bailey Hobson is in Naperville's School District 203.

-a spring morning at the Woods of Bailey Hobson...

-a home on a corner lot at the Woods of Bailey Hobson, Naperville...

Activity in 2011

Homes Sold: 4

Average Sales Price: $670,000

Homes Currently for Sale: 4

Average Asking Price: $713,200

Woods of Bailey Hobson, Naperville is on Facebook.

Woods of Bailey Hobson Third Quarter 2011 Market Report
Woods of Bailey Hobson Second Quarter 2011 Market Report
Woods of Bailey Hobson First Quarter 2011 Market Report
Woods of Bailey Hobson 2010 Market Report
Woods of Bailey Hobson 2009 Market Report

Are you interested in Naperville real estate? Call me anytime at 630-697-0536 or send me an email to Ken@KensFeaturedHomes.com.