September 2010

Found 4 blog entries for September 2010.

orland park short sales expert signI still meet buyers that don't really know what a short sale is.  A short sale listing is a property the seller is trying to sell for less than what is owed on the mortgage.  A short sale can actually take a very long time, the "short" is referring to the fact that there will be less money to the mortgage provider than what is owed, not the length of time from contract acceptance to closing.  Short sales are available in every town and every price range.

Data suggests that only about 50% of short sale offers ever make it to closing.  Agents, buyers and sellers don't understand why a mortgage provider would rather foreclose than sell short, especially when it seems like most closed short sales sell for higher prices than foreclosures.  Not to mention

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dropping mortgage interest ratesHave we hit the bottom of low home price values?  The optimists keep saying we should see an improvement at the end of 2011 and into 2012.  They might be somewhat correct, let's face it, they're talking a year down the road.

Today's low interest rates are tempting

Others are saying that the current low interest rates are another government ploy to keep buyers in the market.  And they might be correct, depending on how low prices drop in the future.  At today's current rates, you'd be better off with 4.5% interest rates vs. a 10% reduction at 6% based on an average home price of around $300,000.

How low will prices go?

No one can say for sure, but some are predicting closer to 20% vs. 10%.  There are several reasons stated:

  • interest rates
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tiger woods at cog hills golf course lemont ilTiger Woods was in the house!  Today was the end of the  BMW Championship at Cog Hill Golf Course in Lemont, IL  70 PGA Tour players, including Tiger Woods, attended for a $7 million purse.  I could see the blimp floating above Cog Hill on my way home from a wedding downtown.

Lemont residents were aware of the ensuing traffic and took other routes.  My husband forgot about it and got stuck in some heavy traffic on Route 83 on his way back from one of his gigs (he plays in a band).

Tiger tied for 15th place.  The winner was 26 year old Dustin Johnson, who faced some bad golfing this summer, although he did win in Pebble Beach this past February.

Cog Hill Golf and Country Club is located at 12294 Archer Avenue,Lemont, IL   60439-6711
The toll-free

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UPDATE:  I have since changed back to my original vendor but have upgraded the site template.  This post was originally made in 2010 and reflects what was happening then.

I hope you like the new look for the #1 "local" website for the southwest and near west Chicago suburbs real estate (from where I'm looking, is above me in the organic searches on Google for "Chicago suburbs real estate").  I think this is a cleaner look and I'm always trying to keep the site easy-to-use and organized. UPDATE: Since I have changed the site again here is the screenshot of how it was prior to the current look:

chicago suburbs homes website


Part of the update was a better, custom MLS search.  You have more search parameters and a lot more information

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