July, 2009

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Phew! The pressure is over!

Thursday, July 30th, 2009

Our first time buyer son and his first time buyer future wife (that’s just fun to say) have closed on their home! A three bedroom home in district 204 with a full finished basement, backing to a park for under $200,000… and … it was in great shape!

I knew that he had some really good friends but for almost a week Colin, Colleen and Matt have been painting, fixing and moving stuff for them. What a nice group! My wife Lisa is the gardener and I am the occasional grunt guy. Lisa has been working pretty hard.

It made us think about all of our friends when we bought our first house in Chicago: Adam, Janet, Danny, Laurie, Susan O (helped with the next house too!) and Pete (Stretch). It was nice to think back and realize (again!) what terrific friends we had too.

Thanks again to all of you that made this a smooth transaction and thanks to all of our friends that were there for us.

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First time buyer – A family affair

Tuesday, July 14th, 2009

It’s a big year for change!

My son proposed to Katherine (Kitty) last winter and it’s been a whirlwind of wedding plans for 2010. Exciting.. yes! And to add to the excitement they’ve decided to purchase a home.

They don’t want to miss out on that free money that the government is giving away to first time buyers. They feel that they can take that $8,000 and use it to their advantage next year. I heartily agree. My wife Lisa and I had a great time showing them homes and talking to them about real estate…  it wasn’t that long ago that Angus would roll his eyes when Mom and Dad drove by houses, now we share in the fun. They found a terrific house that fits all of their needs and will be closing next week.

As a dad in the business, they’ve followed all of my advice happily. (yikes!) It’s a bit nerve wracking because I want this to be a great experience for them… well, I want it to be a great experience for all of my clients..but.. he IS my son! It’s a fine balance between being helpful and being overbearing.

My team has really pulled through for me. Craig Howard the Home Auditor took his time and explained things well, Maureen Lein at Max Mortgage took the time to prepare them properly and Naperville Attorney Tom Alore has stayed on top of the details and made them feel great. I have to say that I really appreciate all of their efforts.

I’m really proud of Angus and Kitty, they set their minds to do something and took all of the steps necessary to make it happen.

Even better… the government is going to pay them $8,000 for it.

Posted in First Time Buyers, Fun, Naperville, Real Estate, Statistics | 1 Response »
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Western Suburbs – Sales up over last year!

Friday, July 10th, 2009

Good Moos!

Detached single family residential sales are up 1% in June 2009 over the previous year! This according to the Mainstreet Association of Realtors which analyzed the data of about 120 communities in the South and Western Suburbs of Chicago.

One percent may not seem like a lot… but when you consider this is the first time since December 2006 that this has happened, it’s very good news for real estate. The $8,000 first time buyer credit is probably helping to spur that.

On another positive note, pending sales are up over 40% from last year at this time. This is the 7th consecutive month of year over year increases in properties under contract. Of course, you would think that would translate to many more sales… but, I’m guessing that many of these properties are short sales (which may take a long time, or… may never close)

Posted in Buyers, Market Update, Real Estate | No Responses »
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