Ken Tracy Realtor Naperville Illinois Real Estate

DOES THE REAL ESTATE MARKET NEED SAVING?

This morning I was reading Richard Weisser's featured post, "A completely new proposal to save the real estate market. It's not as crazy as you might think!"...

In the post Richard writes of his new idea to save the real estate market. His plan involves "A dollar for dollar tax deduction for down payments". Seems like a pretty good idea...

But I am struggling with the premise...

Why does the real estate market need saving? Is it really that bad?

I thought it was a great time to buy a home...

Interest rates low. Prices down. Lot's of inventory to choose from.

So what gives?

Does the real estate market really need saving?

Ken

A Realtor you can trust.

-It was a sunny day at the Carrolwood townhomes in Naperville. Is the real estate market's future just as bright?

There is a condo development in Lisle Illinois named Four Lakes...

Set between lakes and hills, this beautiful development holds more than 1000 condos.

Well known for it's ski hill, Four Lakes also boasts swimming pools, tennis courts, and even several beach volleyball courts...

If you need to take a break after skiing or volleyball, there is a pub at the bottom of the hill named "The Lodge"...

Four Lakes is a great place to live.

My question is this...

If the $8000 first time home buyer tax credit is working, why aren't these homes selling?

With prices ranging from $60,000 to just under $200,000, these condos would seem ideal for first time home buyers...

Yet there are 99 homes for sale in Four Lakes. Thirteen are currently under contract. Not a horrible ratio, but considering the tax credit is expiring on November 30th (just about two months away), I would expect more of these homes to be selling...

I hear other agents saying how busy they are because of the tax credit, but I am not so sure...

I honestly haven't seen it. People move when they want to move. Not because of a government incentive...

So what do you think? Is the tax credit really working?

Ken

A Realtor you can trust.

I enjoy flowers. The colors can be so brilliant.

Here in Naperville autumn can come quickly. With falling temperatures, seasonal flowers can look great one week and be browning the next...

Fortunately, my wife does a great job of keeping our garden up with beautiful seasonal flowers. She and my daughter planted mums yesterday on our back deck. Mums are hardy colorful flowers that can last until Thanksgiving here in the midwest.

After they planted, I decided to snap a few pictures. Here are some of my favorites...

-I thought these mums were beautiful...

-purple is my favorite color...

-in the background you can see our view. Feels like we live in the country...

-I liked the contrast of the flowering white mums on the dark background (my golfbag).

-I think this picture is cool. A young flower about to bloom. Full of potential...

Ken

A Realtor you can trust.

Spring and early summer are active times for real estate.

As the weather warms after a long winter, the months of March through July are always very busy. People hoping to find their dream home...

But then August comes. August is hot. A time for vacations. Swimming pools. Back to school. August has come and gone...

Monday is Labor Day. The unofficial end of summer. The start of real estate's second season...

On Labor Day, we have one last barbecue. A chance to celebrate another happy summer...

But as Labor Day passes, the temperatures cool. Leaves change. A beautiful time of year...

-a view from my deck early last fall

-a fire red tree in Naperville

Fall is a time for real estate.

Sellers come out. My most active season for new listings...

Buyers are out, too. Such a pretty time of year. The last chance to be in that new home before the holidays...

So Labor Day is upon us. Enjoy the time spent with friends and family...

But real estate's second season is here...

Are you ready?

Ken

To buy or sell a home in Naperville, go to my website anytime.

I was showing one of my listings this afternoon. It is a two bedroom condo in Naperville.

I had shown the home to a gentleman a few weeks ago while his wife was out of town. They were hoping to downsize from a bigger home in Naperville they no longer needed...

He loved the condo. He said his wife would need to see it when she gets back. She would be back the 31st.

Today was the 31st.

It was a perfect "real estate" day today. Sunny. 70 degrees. No humidity. Perfect...

I met the wife and daughter promptly at 3:00...

We exchanged pleasantries in front of the building.

"What do you think of the neighborhood?" I asked. The condo is centrally located, close to downtown Naperville and the train, on a fairly residential street for a higher end condo.

"We love it."

So far so good.

We entered the building and took the elevator up to the second floor. I could feel their excitement.

It was getting fun...

I opened the door, flipped off my Danskos, and entered the large corner unit, quickly turning on the lights.

The mother and daughter took turns saying "Ooooh", "Aaaah" and "Did you see this?" for a few minutes as they looked at the kitchen and main living area.

I like to give my buyers space so I continued room to room and turning on the lights. I ran into the mother in the spare bedroom...

"Wow! That's all I can say," said Mom.

Alas, she hadn't even seen the master bedroom and bath. She would have more to say...

I sat quietly in the living room, waiting for her to finish the tour. She enjoyed it so much, she took it twice.

"It's perfect," she said upon returning. "I even love the color."

"I wish all my showings went this well," I laughed.

After a half hour, it was time to go.

"I can't sign today," Mom said with a hint of sadness.

"Then I won't ask you to," I answered.

We checked out the garage and storage area as we headed out the door.

"It's perfect," they said again. "Thanks so much."

"I'll talk to you soon," I said as we parted.

I hope they don't wait to long...

Anyone want to buy a condo???

Ken

To buy or sell a home in Naperville, go to my website anytime.