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Downers Grove Real Estate- Newsletter

The December issue hot off the press… ( well the word processer actually).  Lot’s of interesting news and ideas in this months issue on the local and national level.

   Check it out and let me know what kind if information you would like to see in future issues!

Have a GREAT Holiday… All my best to you and yours.   Neal Paskvan- Baird Warner

Downers Grove Real Estate Newsletter- December 2011

Downers Grove / Darien Home Sales Jan-Oct 2011 vs. 2010

There are Lots of Headlines out there about home sales and prices. In fact some of the headlines seem to come up with conflicting information using the same source! You’ve got to get to the core of the story!

The reason there is confusion created by the media reports is actually simple to explain. There may be at least two different numbers reported:

• The month-over-month (M-O-M) comparison
• The year-over-year (Y-O-Y) comparison

Some other reports may reflect a National Trend vs. Local Trends

When reading a headline ask yourself the following questions prior to arriving at any conclusions:

• What market is being discussed? Remember different markets often go in opposing directions.
• What time periods are being compared? Are seasonal fluctuations being discussed or true prior year comparisons?
• How are Sales being defined? Are unit sales or sale prices being discussed? Unit sales may be plummeting but prices may be skyrocketing at the same time.

In an effort to keep you informed about what is up locally, and all Real Estate is indeed local, I’m posting the most up to date Closed Sales for you. You need know what is indeed going on with the Equity in your biggest investment.

As always, contact me with any questions! neal.paskvan@bairdwarner.com
Cell: 1-630-724-4729

Mortgage Rates Hold Near Record Low - WSJ.com

Fixed mortgage rates in the U.S. again held near record lows over the past week, according to Freddie Mac's weekly survey of mortgage rates.

For the latest week, the survey's results found the average rate for a 15-year fixed-rate mortgage fell to just above its all-time low of 3.26% hit in October.

The 30-year fixed-rate mortgage averaged 3.99% for the week ended Thursday, down a tick from 4% the previous week and below 4.61% recorded a year earlier. Rates on 15-year fixed-rate mortgages averaged 3.27%, down from 3.3% a week earlier and 3.96% recorded a year earlier

Click here to get the rest of the story

Real Estate 2011: House Prices in Chicago and the Suburbs - Chicago magazine - October 2011

 

THE NEW NEW RULES OF REAL ESTATE: Eleven years ago, Chicago offered a guide to making the most of the sizzling-hot housing market. What a difference a decade makes. Now, confronting the realities of today’s pinched economy, local real-estate pros weigh in with the best strategies for buying or selling a home. PLUS: Our annual survey of housing prices in nearly 300 neighborhoods and towns

By Dennis Rodkin

RULE NO. 1   Yesterday is gone

RULE NO. 2 Don’t play the “let’s just see what happens” game.

 

Get the rest of the story from Chicago Magazine by Dennis Rodkin here

…And the Changes Keep Coming

 

With an election year right around the corner, it seems obvious that the world is full of flip-floppers, so why should housing and mortgage policy-makers be any different?

• Remember when the Federal Government was trying to ease its way out of being the dominant provider of mortgage financing (and trying to move people more into the private sector and Private Mortgage Insurance)?
• Remember the days when government insured financing (through FHA loans) was capped at 85% of their conventional counterparts (from Fannie Mae and Freddie Mac)?
• Then, the government recently decided to LOWER the conforming loan limits in high cost areas from $729,750 back to $625,500. The logic was sound. Home values have declined, therefore, so should conforming loan limits.

Read the rest of the story here

House Prices: Where They Will Be in the Spring

Here is what the “Experts” say  about Home prices in the Spring

As a Realtor working with buyers looking to grind down Home Sellers for the Best Deal and  working with Home Sellers looking to keep as much equity as they they can. You need to read this.

Contact me if you need some help sorting this all out.    Neal

Direct Phone  630-724-4729   email- neal.paskvan@bairdwarner.com

Click here to get the Story