Thinking about selling your house and wondering if now’s a good time to do it? Here’s what you need to know. Even though the number of homes for sale has been growing this year, there still aren’t enough homes on the market for all the buyers who want to buy.

So, what does that mean for you? To keep it simple, it means it’s still a seller’s market. Here’s how it works:

  • A neutral market is when supply and demand is balanced. Basically, there are enough homes to meet buyer demand based on the current sales pace, and home prices hold fairly steady.
  • A buyer’s market is when there are more homes for sale than there are buyers. When that happens, buyers have more negotiation power because sellers are willing to make compromises to close the deal. In…

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Are you looking to buy a new home in St. Charles, Illinois? If so, you're embarking on an exciting journey, and we're here to guide you through every step of the way. This blog post is all about making your house-hunting experience in St. Charles as smooth and successful as possible, with a focus on the invaluable role a realtor plays in this process.

The Overwhelming Quest for the Perfect Home

Firstly, it's important to acknowledge that searching for a new home, especially in a place as sought-after as St. Charles, IL, can be quite daunting. The myriad of options, the competitive market, and the sheer time it takes to sift through listings can be overwhelming. This is where the expertise of a realtor becomes not just helpful, but essential.

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Going into 2023, there was a lot of talk about a possible recession that would cause the housing market to crash. Some in the media were even forecasting home prices would drop by as much as 10-20%—and that might have made you feel a bit unsure about buying a home.

But here’s what actually happened: home prices went up more than usual. Brian D. Luke, Head of Commodities at S&P Dow Jones Indices, explains:

“Looking back at the year, 2023 appears to have exceeded average annual home price gains over the past 35 years.”

To put last year’s growth into context, the graph below uses data from Freddie Mac on how home prices have changed each year going back to 1980. The dotted line shows the long-term average for appreciation:

 a graph showing the average of a home appreciation


The big…

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If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you. They may even be why you’ve put your plans on hold for now. When rates climbed near 8% last year, some buyers found the numbers just didn’t make sense for their budget anymore. That may be the case for you too.

Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below):

 a graph of blue rectangles with text


David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:

“Three quarters of buyers said ‘we’re out’ due to mortgage rates. Here’s what I know going forward. That will change in 2024.”

That’s because mortgage rates have come down off their peak last October.…

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90 10th Ave, Bartlett, IL

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$ CLICK FOR CURRENT PRICE 2 BEDROOMS 2 BATHROOMS

Spacious mobile home in desirable Spring Lake Estates of Bartlett on waterfront lot! Park amenities include a clubhouse, park, ponds and more. Oversized driveway and convenient storage shed. 2 bedrooms and 2 full baths. Large inviting living room and adjacent eat-in kitchen complete with breakfast bar, table space and decorative tile backsplash. Master with luxury bath includes double bowl vanity. Stove works, oven does not. Seller offering $500 credit for repair or replacement. All occupants must be 55+ years old.…

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If you’re trying to buy a home and are having a hard time finding one you can afford, it may be time to consider a fixer-upper. That’s a house that needs a little elbow grease or some updates, but has good bones. Fixer-uppers can be a really great option if you’re looking to break into the housing market or want to stretch your budget further. According to NerdWallet:

“Buying a fixer-upper can provide a path to homeownership for first-time home buyers or a way for repeat buyers to afford a larger home or a better neighborhood. With the relatively low inventory of homes for sale these days, a move-in ready home can be hard to find, especially if you’re on a budget.”

Basically, since the number of homes for sale is still so low, if you’re only willing…

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When it comes to finding the perfect place to call home in Geneva, IL, the decision between purchasing a townhouse or a condo can be a tough one. Both options have their own set of benefits and considerations, but ultimately it comes down to your lifestyle, preferences, and budget. In this blog post, we will explore the differences between townhouses and condos in Geneva, IL and help you make an informed decision on which type of property is right for you.

Image of a row of townhousesTownhouses in Geneva, IL

Townhomes offer a unique blend of privacy and community living. With individual units that share walls and often come with their own yard or outdoor space, townhouses provide a sense of independence while still being part of a larger community. These properties are …

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Some Highlights

  • Wondering if now’s a good time to sell your house? Based on how many homes are on the market, there are two big reasons why this spring is looking so good for sellers.
  • Thanks to an uptick in inventory over last year, you’ve got more options for your next home. But there are still fewer homes for sale than there’d normally be, meaning your house should stand out and get a lot of attention from buyers.
  • If you want to sell your house, this spring is the sweet spot. When you’re ready, let’s chat to get the ball rolling.

Previously posted at Simplifying The Market.

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If you’re taking a look at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.

When you think about cutting down on your spending, odds are you think of frequent purchases, like groceries and other goods. But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:

“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall that comes from selling your larger home and buying something smaller.”

That windfall is thanks to your home equity. If you’ve been in your house for a while, odds are…

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As the lines on a chart trend upwards, they tell a story of change and growth. This Median Sales Price graph presented by The Kombrink Team of One Source Realty is a prime example, illustrating a notable trend in the housing market of the Chicago area. It captures a tale of suburban allure, showing that the charm of the suburbs has not waned but has rather intensified, particularly in the period from January 2021 to March 2024.


Median Sales Price graph for Chicago, St Charles, Geneva, and Batavia Illinois


One can't help but observe that home prices in the suburbs have escalated more vigorously than those within the city limits. This is indicative of a broader national trend, wherein suburban homes have risen by 5.5% more than their urban counterparts. It appears that the thirst for more space, perhaps fueled by the remote…

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