Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming?

Here's a look at why the data and the experts say that’s not going to happen.

There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages

One of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending standards made it easy for people to take out mortgages, even when they couldn’t show they’d be able to pay them back. At that time, lenders weren’t being…

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Geneva Real Estate Market Update July 2024

Hey everyone, it’s Nick here with the Kombrink Team. Today, I’ve got some exciting market updates for you all in Geneva, Illinois. Whether you're thinking of buying or selling, there’s a lot to unpack. Let’s dive right in.

Current Market Snapshot

As of July 2024, the Geneva real estate market is on fire. Here’s what you need to know:

  • 1.75 Month Supply of Inventory: Homes are selling fast! A 1.75 month supply means demand is high and inventory is low.
  • Decrease in Inventory: Over the past 12 months, our inventory has decreased by 4.89%. Great news for sellers!
  • List to Sold Price Percentage: Sitting at 101.4%. Homes are not just selling quickly, they're going for top dollar.
  • Median Days…

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Hey there, everyone! Miles here with The Kombrink Team, your friendly neighborhood REALTOR® team, bringing you the latest market update for July 2024 in lovely Sycamore, Illinois. Let's dive right into the numbers, shall we?

Current Inventory Levels

As of July 2024, Sycamore has a 2.59 Months Supply of Inventory. This is a significant increase of 90.4% over the last 12 months. What does this mean for you? Well, a higher inventory level indicates a healthy market with plenty of opportunities for both buyers and sellers. With more homes available, buyers have a better chance of finding their dream home, while sellers enjoy a competitive market with active buyers.

Months Supply of Inventory Sycamore Illinois Real Estate Market July 2024

List to Sold Price Percentage

The List to Sold Price percentage in…

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3385 Bradbury Cir, Aurora, IL

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$ CLICK FOR CURRENT PRICE 2 BEDROOMS 3 BATHROOMS

Welcome to 3385 Bradbury Cir in the highly desirable Yorkshire Square of Aurora, Illinois! This 2BR/2.5BA townhome offers a maintenance-free lifestyle that perfectly combines elegance, comfort, and modern amenities. Located in a quiet subdivision just minutes from main thoroughfares, expressways, and the Metra station, this prime location is unbeatable. Enjoy the benefits of living in the highly acclaimed school district 204 and elevate your lifestyle in this luxurious neighborhood. This townhome…

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6N718 Colonel Bennett Ln, St Charles, IL

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$ CLICK FOR CURRENT PRICE 5 BEDROOMS 4 BATHROOMS 1.29 acres Lot

Welcome to 6N718 Colonel Bennett Ln, a stunning 5BR/3.5BA luxury home nestled in the prestigious Corron Glen neighborhood of St. Charles, Illinois. Situated on a beautifully landscaped 1.29-acre lot, this exquisite property offers a three-car attached garage, elegant paver walkways, a welcoming front patio, and a backyard deck that leads to a brick paver patio and firepit, perfect for outdoor entertaining. The storage shed with electric provides additional convenience. Inside,…

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There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.

Consider Moving to a More Affordable Area

Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains:

“Housing affordability has always mattered . . . and you’re seeing it across the country. Housing affordability is reshaping migration trends.”

If you’re hoping to buy a home soon, it might make sense to broaden your search area…

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11 S Adams St, North Aurora, IL

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$ CLICK FOR CURRENT PRICE 2 BEDROOMS 2 BATHROOMS 0.32 acres Lot

Welcome to 11 S Adams St, a charming 2BR/1.5BA ranch home located in the heart of North Aurora, Illinois. This home is perfectly situated within walking distance to the scenic Fox River, the local library, and beautiful parks. The landscaped lot, adorned with mature trees, offers a serene setting and includes two separate garages with a concrete driveway accommodating up to seven cars-ideal for auto enthusiasts, handymen, or contractors. Step into the bright and airy sunroom, the perfect…

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Some Highlights

  • Want to know the biggest mistakes homebuyers are making today?
  • They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro.
  • Let’s connect to make sure you have a pro on your side who can help you avoid these mistakes.

Previously posted at Simplifying The Market.

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There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:

  • They couldn’t find anything in their price range
  • They didn’t have any successful offers or had difficulty competing
  • They couldn’t find the right home

If any of these sound like why you stopped looking, here’s what you need to know. The housing market is in a transition in the second half of 2024. Here are four reasons why this may be your chance to jump back…

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Hey there, everyone! Miles with The Kombrink Team here, your friendly neighborhood REALTOR® team, coming at you with a market update for July 2024 in beautiful Saint Charles, Illinois. Let's dive right in, shall we?

The State of Inventory: A Hot Market

Currently, we have a mere 1 Month Supply of Inventory in St Charles, IL, which is a significant decrease of 75% compared to the last 12 months. What does this mean for you? Well, it means that the market is hot, hot, hot! This low inventory signals a seller's market, where demand outstrips supply, leading to higher prices and quicker sales.

Months supply of housing inventory St Charles IL July 2024

Impressive Sale Prices

The List to Sold Price percentage is at an impressive 102.1%, showing that properties are selling quickly and often above…

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