The Real Estate market in Northern Illinois over the past 10 years has been tough. REALLY tough. Much of the appreciation felt by the rest of the country since the Great Recession has passed us by. Until recently.
I have many friends and clients that thought about selling a home but passed when they researched the price the market would bring them in the past few years. Homeowners feeling “stuck”, unable to sell a property, some rented, some held their nose and did a Short Sale. A lot of owners are still on the sidelines due to past frustration.
This is your wake up call, the Real Estate Market is IMPROVING in Northern Illinois. Get Off the Sidelines!
What is driving this improvement? A few things really. Foreclosures, Short Sales, and Bank Owned properties have been a large part of our market since 2009. Those are quickly being moved off the market. We have very low inventory of homes for sale right now and, as things improve, this low inventory is driving up demand. In some markets we are even seeing multiple offers and bidding wars!
Now, this doesn’t mean you can OVER price your home. If you do, it will still SIT. However if you’ve been holding off trying to sell, at LEAST take a serious look at the market with a quality Realtor to find out what your options are. The clients I’ve recently been following up with have been surprised at the options they have now that they didn’t have two years ago.
Call me at 815-990-6844 if I can help you.