March 2023 Housing Update 

The numbers for March are no lie!  A shortage of inventory is keeping home prices up, while the number of homes for sale continue to decrease.  Boomers are now making up the largest percentage of transactions by downsizing and paying cash or purchasing a second home.  Millenials are again number 2, showing that single family homes are in demand but scarce.  Do you have questions about your local market?  Call text, or DM me and lets talk! #marketwatch #homesales #homeprices #realestate #tinleypark #orlandpark #southsuburbs, #realtor #buyersagent #listingagent #localagent #youragentrobyn

If you’re thinking about buying a home, be sure to plan for closing costs. Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more. DM me so I can answer your questions about the homebuying process.

#expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters

Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house?

It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers.

>>What Does This Mean for You?

When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find one to purchase. That creates increased competition among purchasers and keeps upward pressure on prices. And if buyers know they’re not the only one interested in a home, they’re going to do their best to submit a very attractive offer. As this happens, sellers are positioned to negotiate deals that meet their ideal terms. Lawrence Yun, Chief Economist at NAR, says:

“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”

Right now, there are still buyers who are ready, willing, and able to purchase a home. If you list your house right now in good condition and at the right price, it could get a lot of attention from competitive buyers.

Listing your house now will maximize your exposure to serious, competitive buyers. DM me to discuss how to jumpstart the selling process.

#Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters

February 2023 Housing Update 

The number are in for February and both Tinley and Orland are stable from last month and are up anywhere from 8.9% to 13.5% from last year at this time. However, our supply has also remained flat. This is due to a number of reasons, but the biggest is that people refinanced at such a low rate, it may not make sense to move. Additionally, talk of rising interest rates has sidelined some buyers until closer to the end of 2023. That being said, people are still selling and people are still buying and a home is personal to you. It's when you are ready to buy or sell that it's the right time. So if you are open to having a conversation about what is happening in your local market or what the next step is, call-text or DM me. #marketwatch #homesales #homeprices #realestate #tinleypark #orlandpark #southsuburbs, #realtor #buyersagent #listingagent #localagent #youragentrobyn

The January numbers are in and 3 very interesting things stand out:

1.  Buyers are re-entering the market

2. We still have an unbalanced supply of homes.

3. Market time of homes has increased.

What does this mean overall?  It means that there are fewer but more serious buyers. There still are not enough homes available. Buyers are taking their time and not making a rush decision with their purchase.  With interest rates stabilizing and a strong jobs outlook , the Fed will be cautious with raising rates too much, but you won't see rates bottom out anytime soon.  

If you are looking to enter the market, be it buyer or seller, it's a great time to have a strategy session to determine when and where you want to be, what you can afford and what to expect in this market.   So let's talk about where you want to be in the next five years and how we can get you there!  #realtor #marketwatch #tinleypark #orlandpark #southsuburbs #homebuying #homeselling #youragentrobyn #bhhsstarck

What is earnest money and what are the benefits of it when you are looking to purchase a home.

#franklyspeaking #youragentrobyn #buying #selling #realestate #southsuburbs #chicago #tinleypark #orlandpark #earnestmoney

Today’s Housing Market Is Nothing Like 15 Years Ago

Housing numbers remained relatively flat from last month, but year over year, all markets are up over 25-45%! Can you guess which had the biggest gain? How does this differ from the headlines we are reading? Tag me📍, email📧 , text or call📱 me! I'd love to talk to you about your specific home 🏠 market! #tinleypark #orlandpark #homevalues #marketupdate #southsuburbs #youragentrobyn

Home improvements are a tricky topic. Here's my take on that. #photography #franklyspeaking #youragentrobyn #buying #selling #realestate #southsuburbs #chicago #tinleypark #orlandpark

VIDEO by youragentrobyn