Vegas Tower Breaks Glass Ceiling of $1,500/sq ft

Three penthouses in Las Vegas' Harmon Hotel, Spa & Residences have closed at prices ranging from $1,500 - $2,400/sq ft, a new record. Units are in one of four high-rise developments in 76-acre MGM CityCenter, cited as being the most expensive private development in the U.S. (Last August Dubai World invested $2.7 billion for a 50% stake in the project.) Promoted lavishly even by Vegas standards, the MGM CityCenter has a sales office described by the Las Vegas Sun as "Disneyland for the competitively acquisitive. The Cirque du Soleil of open houses. Architects Gone Wild."

http://www.adnergroup.com/

Mortgage Watch: Regulators Speak, Magic 8-Ball Portends Lower Rates

Yesterday, two indicators emerged signaling that mortgage rates will trend down in the near term. Federal Reserve Chairman Ben S. Bernanke reported that "the economic situation has become distinctly less favorable" and the central bank "will be carefully evaluating incoming information ... and will act in a timely manner". Market pundits have all but equated this with a 1/2% cut in the federal funds rate -- the interest that banks charge one another for short term loans -- at the central bank's March 18 meeting. On another front, federal regulators have lifted the $1.5 trillion cap on mortgages that Fannie Mae and Freddie Mac may hold on their books. This second measure, coupled with the proposed regional increase in the conforming loan limit, will increase the pool of loans the giant mortgage buyers can buy, reducing home loan rates. Locally, the relief couldn't come too soon -- the National Association of Home Builders and Wells Fargo declared Los Angeles County the nation's least affordable housing market.

www.adnergroup.com

William Morris Ankles El Camino Drive

Venerable talent agency William Morris plans to decamp from its current digs, three trophy properties located at 150 S. Rodeo Drive and 150-151 S. El Camino Drive in Beverly Hills. The buildings are located in the Beverly Hills "Golden Triangle", an area of top-shelf office and retail, where vacancy hovers at a punishingly low 2.9%. Unlike CAA, which bailed from its long-time Beverly Hills home, WMA intends to remain in the 90210 and has hired architectural firm Gensler to develop a green building with recycled materials and energy-efficient water and lighting systems on Beverly Drive. Green is good, but the true challenge will be reprogramming talent agents to eliminate first class air travel, Ferrari driving and Evian water consumption in order to reduce the company's carbon footprint.

www.adnergroup.com

Google on the go: mobile searching made easy

Posted by Carl Sjogreen, Group Product Manager

Ever away from your PC and need to find a restaurant? Or maybe you just need to settle a bet? Well if you have a mobile phone, you're in luck. We're happy to announce today Google's new and more powerful mobile search for Australia. Now, rather than having to specify what type of information you're after, Google takes results from all over the web: images, news, local businesses and more, and puts them all at your fingertips. A search for surfing, for instance, will give you images right along with your normal web pages.


Google's mobile search also helps cut down on keystrokes by remembering your location. Search for "cafes Perth" for instance, and Google makes a note of your location, so all your subsequent searches for weather, restaurants, etc. return results relevant to Perth. No matter where you are in Australia, Google can help you find what you need, now faster and easier than ever before.


To access our new mobile search service, just point your mobile browser to www.google.com.au/m. Be sure to bookmark it!

Also, be sure to check out the rest of Google's great mobile products: Google Maps with My Location (beta), GMail, Google Calendar, Google Docs, Google News and Picasa, which can be found by clicking on the "more..." link, or going directly to http://www.google.com.au/m/products.

Hooray for Hollywood 90028!

There's evidently more excitement outside the Kodak theater than inside -- the Hollywood neighborhood has been tapped the "single hottest sub-market in Southern California". Despite economic uncertainties, office, retail and residential projects backed by the nation's biggest and strongest developers launch forward. Major projects include a 400,000 sq ft mixed-use development at Hollywood Boulevard and Selma Avenue, which will include 300 apartments over a Whole Foods Market. Trader Joe's won't be far -- across the street on Vine, the trail-blazing grocer will set up shop on ground floor of the W Hotel, which will include 350 apartments, 150 condos and 80,000 sq ft of retail. Retailers such as Tesco, Urban Outfitters and Zara have all signed leases in the area; others, such as Nike, Electronic Arts and MySpace are being courted by property owners. With its tent-pole projects, its indie spirit, its excellent slate and its A-List talent, Hollywood 90028 is destined for a banner year.

www.adnergroup.com

Norridge, IL 60706 - Housing Market 2008

A market analysis by a local appraiser

The Village of Norridge is located approximately 14 miles northwest of the Chicago "Loop". The population was 14,582 at the 2000 census.

Norridge is bordered by Chicago's Norwood Park neighborhood to the north, Harwood Heights to the east, Chicago's Dunning neighborhood to the south and the Cook County Forest Preserves to the west. The O'Hare International Airport is approximately 3 miles from the village.

According to data from the Northern Illinois MLS there were 74 sales of single family homes in 2007, down from 99 in 2006. The average sales price was $386,691.00, this was a decline from $420,742.00 in 2006. Marketing times were an average of 156 days on the market, up from the 2006 average of 78 days.

As of February 23, 2008 there are 100 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 16.23 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -25.257%, average sales prices were down -8.09%, and the days on the market were up +100%. This market is oversupplied and the 100 active listings have already been on the market an average of 213 days.

The condo/townhouse market had 26 sales, down from the 48 properties that sold in 2006. The average sales price in 2007 was $274,833.00, this was an increase from $257,004.00 in 2006. Marketing times were an average of 185 days on the market, up from the 2006 average of 128 days.

There are 33 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 2.16 sales per month, this is 15.27 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -45.33%, sales prices increased +6.93%, the days on the market increased +44.53%. The 33 active MLS listings have already been on the market an average of 185 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Norridge, Illinois. 60706. Our appraisers are State of Illinois Certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

:: Hotel proposal is a good but still a half baked vision for Downtown Barrie ::

 
With the prime piece of downtown Barrie Real Estate the city has there is an incredible opportunity over the next few years to position  Barrie as one of - if not the top waterfront/boater friendly community in all of Ontario while at the same time create an as yet untapped revenue stream and boost tourism numbers beyond what we have seen before.

With a proposed Hotel and convention center providing the perfect catalyst, Barrie could begin to evolve its downtown into a thriving lakeside entertainment and shopping district and become a magnet for unique and stylish boutiques, galleries, craft and antique shops, great markets, cafes and fashionable restaurants where for lease signs, tattoo parlours and pawn shops currently dot its landscape.

There is opportunity for revenue growth that will encourage new cutting edge architecture in hand with the revamping of Barrie’s historic downtown architecture to its past splendour. Dunlop and its neighbouring streets can evolve into vibrant and exciting pedestrian friendly streets that will lure residents and visitors to our core. Yes Barrie has an official plan for its future that intends for much of what I described to take place. Kind of a “build it and they will come “philosophy behind it all which leaves much to chance. The proposed downtown Hotel and convention centre is an “about time” great idea that will attract attention and new revenue to downtown and keep millions of dollars in convention spending from going down the highway to the GTA because we don’t have venues at present with the capacity to hold events bigger than a few hundred people. But this is just one part of what could and should be taking place to provide the foundation for a revitalized down town.

Literally Millions of tourist dollars travel across Lake Simcoe between the Trent and Severn Rivers each year. The upper echelon of North American Society move across our lake in a steady stream from May to October on yachts that are pretty much six and even seven figure floating 5-star hotel suites. Very few of them or any Boaters/cottagers on Lake Simcoe will make the side trip to Barrie because they know the chances of finding temporary or overnight (transient) docking are slim to none and the only semblance of a dining experience apparent when scanning downtown from the lake is Hooters or Burger King. Barrie take note: The Big Bay Point Resort project is going to introduce hundreds of new boating enthusiasts to Lake Simcoe just a fifteen to twenty minute boat ride from downtown Barrie. Along with thousands of existing waterfront property owners, most will take the occasional afternoon or evening cruise past Barrie’s down town, few will think to or have the option to tie up and spend a few hours enjoying Barrie’s down town shopping and dining.

A couple years ago I tried to shake up our last City Council on the idea of expanding Barrie’s downtown marina, especially the public docking facilities into a world class marina facility capable of attracting nautical clientèle from all of Lake Simcoe and the Trent Severn to come and experience Barrie. I got no reply from anyone on Council to my emailed suggestion. A short time later I had the chance to speak with then mayor Rob Hamilton about the idea. He told me Barrie’s marina facilities are adequate. I suggested to him we should make that our official slogan, “Barrie, striving to be adequate”, I got a blank stare in response and he kindly excused himself from our conversation.

The road to adequacy is littered with safe minimalist planning and half baked ideas. If adequate is all Barrie will ever be then we don’t deserve the privilege of being located on one of the best and busiest waterfronts in Ontario. Hopefully the advent of a downtown hotel and convention centre will stimulate the adrenaline of City Council and our Mayor and allow them to see this is the perfect time and opportunity to venture beyond adequacy. I will hold my breath as well to see if good common sense is forthcoming when the Allandale Rail lands are finally sold and developed.

Part of the approval for a Hotel and convention facility that will enjoy and benefit from having the most prime and convenient commercial proximity to our lakefront and marina has to be that they make a direct and ongoing financial investment in our public marina facilities allowing Barrie to build a world class Marina with a generous supply of transient boat slips that will help to make Barrie stand out the way it should.

Prospect Heights, IL 60070 - Housing Market 2008

A look at the current real estate market by a local appraiser

The Village of Prospect Heights is located approximately 30 miles northwest of the Chicago "Loop" in suburban Cook County. The population was 17,081 at the 2000 census.

Prospect Heights municipal neighbors include Wheeling to the north, Mt. Prospect to the east & south and Arlington Heights to the west. The O'Hare International Airport is approximately 10 miles from the village.

According to data from the Northern Illinois MLS there were 26 sales of single family homes in 2007, down from 54 in 2006. The average sales price was $487,947.00, this was a decline from $549,842.00 in 2006. Marketing times were an average of 241 days on the market, up from the 2006 average of 106 days.

As of February 23, 2008 there are 51 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 23.61 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -51.85%, average sales prices were down -11.25%, and the days on the market were up +127.35%. This market is oversupplied and the 51 active listings have already been on the market an average of 229 days.

The condo/townhouse market had 120 sales, down from the 155 properties that sold in 2006. The average sales price in 2007 was $169,750.00, this was a decline from $175,789.00 in 2006. Marketing times were an average of 114 days on the market, up from the 2006 average of 95 days.

There are 147 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 10 sales per month, this is 14.70 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -22.58%, sales prices declined -3.43%, the days on the market increased +20.00%. The 147 active MLS listings have already been on the market an average of 180 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Prospect Heights, Il. 60070. Our appraisers are State of Illinois Certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com

Northbrook, IL 60062 - Housing Market 2008

A market analysis by a local appraiser

The village of Northbrook is located approximately 25 miles northwest of downtown Chicago at the north border of Cook County. The population was 33,435 at the 2000 census, and estimated to be 34,190 as of 2005.

Northbrook's municipal neighbors include Deerfield and Highland Park to the north, Glencoe to the east , Northfield and Glenview to the south, and Wheeling to the west.

Transportation links include U.S. Route's 68, and 43. The I-94 expressway passes on the eastern edge of the village and the I-294 tollroad markes the western border. METRA commuter train service to Chicago is available in downtown Northbrook. The O'Hare International Airport is approximately 12 miles from the village.

According to data from the Northern Illinois MLS there were 269 sales of single family homes in 2007, down from 307 in 2006. The average sales price was $691,938.00, this was a decline from $746,529.00 in 2006. Marketing times were an average of 142 days on the market, up from the 2006 average of 97 days.

As of February 23, 2008 there are 293 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 13.07 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -12.37%, average sales prices were down -7.31%, and the days on the market were up +46.39%. This market is oversupplied and the 293 active listings have already been on the market an average of 236 days.

The condo/townhouse market had 176 sales, down from the 203 properties that sold in 2006. The average sales price in 2007 was $340,338.00, this was a decline from $374,437.00 in 2006. Marketing times were an average of 139 days on the market, up from the 2006 average of 87 days.

There are 180 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 14.66 sales per month, this is 12.27 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -13.30%, sales prices declined -9.10%, the days on the market increased +59.77%. The 180 active MLS listings have already been on the market an average of 188 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Northbrook, Il. 60062. Our appraisers are State of Illinois Certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Woodridge, IL 60517 - Housing Market 2008

An analysis of the current real estate market by a local appraiser

The village of Woodridge is located approximately 29 miles southwest of the Chicago "Loop". Woodridge is predominantly in DuPage County, but also has portions in Will and Cook County.

As of the 2000 census, the village had a total population of 30,934. A special census commissioned in 2003 puts the population at 33,253. The Northeastern Illinois Planning Commission predicts that by the year 2020, Woodridge will accommodate 41,600 residents in 15,500 households and that the businesses located here will employ 24,500 people.

Woodridge is bordered by Lisle to the northwest, Downers Grove to the north and east, Bolingbrook to the south and Naperville to the west.

According to data from the Northern Illinois MLS there were 180 sales of single family homes in 2007, down from 237 in 2006. The average sales price was $334,818.00, this was an increase over $310,164.00 in 2006. Marketing times were an average of 100 days on the market, up from the 2006 average of 63 days.

As of February 23, 2008 there are 126 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 8.40 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -24.05%, average sales prices up +7.94%, and the days on the market were up +58.73%. This market is oversupplied and the 126 active listings have already been on the market an average of 163 days.

The condo/townhouse market had 141 sales, down from the 197 properties that sold in 2006. The average sales price in 2007 was $162,784.00, this was an increase over $153,255.00 in 2006. Marketing times were an average of 81 days on the market, up from the 2006 average of 58 days.

There are 112 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 11.75 sales per month, this is 9.53 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -28.42%, sales prices increased +6.21%, the days on the market increased +39.651%. The 112 active MLS listings have already been on the market an average of 148 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Woodridge, Il. 60517. Our appraisers are State of Illinois Certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Woodridge contact Citywide 1-800-405-9718

http://www.appraisercitywide.com

Renters Feel the Pain

The ascent of rents in Los Angeles marches on unimpeded despite (or perhaps because of) the languid housing market. As of the 4th quarter of 2007, tenants ponied up an average of $1,695/month in Los Angeles County in larger apartment complexes, according to Realfacts. Analysis of data on Rentslicer reveals the average monthly asking rent for a two-bedroom apartment on the market in the last 90 days is: $4,463 (Beverly Hills/West Hollywood), $2,894 (Santa Monica), $2,830 (Venice), $2,223 (Los Feliz), $2,107 (Silver Lake), $1,903 (Echo Park) and $1,422 (Highland Park). Fewer homebuyers means more renters, which translates into higher rents.

http://www.adnergroup.com/

Beach Park, IL 60087 - Housing Market 2008

A market analysis by a local real estate appraiser

The village of Beach Park is located approximately 48 miles northwest of the Chicago "Loop" in suburban Lake County. As of the 2000 census, the village had a total population of 10,072. Illinois Beach State Park is located on the eastern edge of the village.

Beach Park is bordered by Zion to the north, Lake Michigan to the east, Waukegan to the south and Wadsworth to the west. O'Hare International Airport is approximately 35 miles from the village.

According to data from the Northern Illinois MLS there were 101 sales of single family homes in 2007, down from 142 in 2006. The average sales price was $212,622.00, this was a decrease from $217,181.00 in 2006. Marketing times were an average of 142 days on the market, up over the 2006 average of 108 days.

As of February 22, 2008 there are 105 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 12.48 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -28.87%, average sales prices are down -2.09% and the days on the market were up +31.48%. This market is oversupplied and the 105 active listings have already been on the market an average of 197 days.

The condo/townhouse market had 27 sales, down from the 28 properties that sold in 2006. Sales prices saw a decrease with the average 2007 sales price at $169,484.00, compared to $175,720.00 in 2006. Marketing times were an average of 196 days on the market, an increase from the 2006 average of 140 days.

There are 26 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 2.25 sales per month, this is 11.55 months of unsold inventory.

The condo/townhouse market is oversupplied, sales volume was down slightly, average sales price decreased -3.54%, and the days on the market increased +40.70%. The 26 active MLS listings have already been on the market an average of 144 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Beach Park, Illinois 60087. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Lake County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Geneva, IL 60134 - Housing Market 2008

A current market analysis by a local appraiser

The city of Geneva is located approximately 35 miles west of the Chicago "Loop" in suburban Kane County. As of the 2000 census, the city had a total population of 19,515. The city has a total area of of 8.6 square miles. It is the county seat of Kane County.

Geneva is bordered by St. Charles to the north, West Chicago to the east, Batavia to the south and unincorporated Kane County to the west. O'Hare International Airport is approximately 25 miles from the Village.

According to data from the Northern Illinois MLS there were 332 sales of single family homes in 2007, down from 389 in 2006. The average sales price was $388,786.00, this was a decrease from $403,137.00 in 2006. Marketing times were an average of 143 days on the market, up over the 2006 average of 96 days.

As of February 22, 2008 there are 262 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 9.47 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -14.65%, average sales prices are down -3.55% and the days on the market were up +48.95%. This market is oversupplied and the 262 active listings have already been on the market an average of 180 days.

The condo/townhouse market had 90 sales, down from the 98 properties that sold in 2006. Sales prices saw a increase with the average 2007 sales price at $260,762.00, compared to $250,698.00 in 2006. Marketing times were an average of 105 days on the market, an increase from the 2006 average of 94 days.

There are 137 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 7.50 sales per month, this is 18.26 months of unsold inventory.

The condo/townhouse market is oversupplied, sales volume was down -8.16%, average sales price increased +4.01%, and the days on the market increased +11.70%. The 137 active MLS listings have already been on the market an average of 138 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Geneva, Illinois 60134. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Kane County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Brookfield, IL 60513 - Housing Market 2008

A local real estate appraiser looks at the current market

The village of Brookfield is located approximately 14 miles southwest of the Chicago "Loop" in suburban Cook County. As of the 2000 census, the village had a total population of 19,085. Brookfield is famous for the Chicago Zoological Park, commonly called the Brookfield Zoo, which opened in 1934.

The village is bordered by North Riverside & La Grange Park to the north, Riverside & Lyons to the east, Mc Cook to the south and La Grange & La Grange Park to the west. O'Hare International Airport is approximately 11 miles from the village.

According to data from the Northern Illinois MLS there were 182 sales of single family homes in 2007, down from 201 in 2006. The average sales price was $278,159.00, this was a decrease from $285,714.00 in 2006. Marketing times were an average of 86 days on the market, up over the 2006 average of 55 days.

As of February 21, 2008 there are 101 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 6.66 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -9.45%, average sales prices are down -2.64% and the days on the market were up +56.36%. This market is oversupplied and the 101 active listings have already been on the market an average of 166 days.

The condo/townhouse market had 45 sales, up from the 41 properties that sold in 2006. Sales prices saw a decrease with the average 2007 sales price at $247,412.00, compared to $249,418.00 in 2006. Marketing times were an average of 110 days on the market, an increase from the 2006 average of 84 days.

There are 36 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 3.75 sales per month, this is 30.95 months of unsold inventory.

The condo/townhouse market is oversupplied, sales volume was up +9.75%, average sales price decreased slightly -0.80%, and the days on the market increased +30.95%. The 36 active MLS listings have already been on the market an average of 170 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Brookfield, Illinois 60513. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Franklin Park, IL 60131 - Housing Market 2008

The village of Franklin Park is located approximately 15 miles northwest of the Chicago "Loop" in suburban Cook County. As of the 2000 census, the village had a total population of 19,800.

The village is bordered by Schiller Park to the north, River Grove to the east, and unincorporated Leyden Township on the south and west. O'Hare International Airport is approximately 3 miles from the village.

According to data from the Northern Illinois MLS there were 131 sales of single family homes in 2007, down from 181 in 2006. The average sales price was $252,206.00, this was a decrease from $274,396.00 in 2006. Marketing times were an average of 131 days on the market, up over the 2006 average of 76 days.

As of February 21, 2008 there are 149 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 13.65 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -27.62%, average sales prices are down -8.08% and the days on the market were up +72.36%. This market is oversupplied and the 101 active listings have already been on the market an average of 166 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Franklin Park, Illinois 60131. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com

$2,700/sq ft in Century City

A 38th floor condo in A. M Stern's the Century, under construction on Avenue of the Stars, fetched a whopping $2,700/sq ft, a new high for Los Angeles, reports the LA Times. The previous record was an underwhelming $1,700 sq ft for a unit at Doheny and Sunset in West Hollywood. The buyer should reserve all hubris as the $15 million price is a pittance compared to the $30 million penthouse currently on the market.

http://www.adnergroup.com/

Part II: $729,750 Conforming Loan Limit

It's unclear whether the increase in the conforming loan limit in high cost areas will be the anticipated panacea for the beleaguered housing market. The securities industry's biggest trade group recommended that the new "maxi" conforming loans (in the $417,000 to +/-$729,750 range) be segregated on the secondary market from the under-$417,000 loans. Because of their greater perceived risk, these "maxi" conforming loans will likely have higher interest rates than current conforming loans, muting their benefit to buyers and those refinancing. On a positive note, those who qualify under their more stringent underwriting guidelines will enjoy more lenient terms (e.g., 5% downpayment) that are intended aid first-time buyers. Expect resolution soon: the Department of Housing and Development (HUD) has until March 14 to revise the loan limits.

http://www.adnergroup.com/

G'day London

Posted by Mike Perrow, Software Engineer

I just got back the Google offices in London. I was visiting London for our second G'Day Google event, meeting engineers in the UK, and telling the world about Google in Australia. (You may recall we held a similar event last year in California).


The event started with a few talks. First up was the current Australian High Commissioner in London, to tell us about how business is booming in Australia (apparently the world's 13th largest economy). Next we had talks about engineering at Google in London and Sydney. Alan Noble, the engineering director for Australia, talked a bit about the products and areas that we work on down here. Finally we heard from Carl Sjogreen, Group Product Manager for Australia/NZ, who told us about the life of a PM, and about what it takes to ship great products.

Afterwards, we had a good amount of time to mingle, eat and drink (of course, being Google, there was awesome free food), and talk amongst ourselves for a while. I had a lot of fun chatting with some Aussie expats and Londoners, and enjoyed the surreal experience of eating Kangaroo and drinking VB on a cold London evening.


I've been at Google Australia for about a year now. I moved out from Switzerland (where I'd been studying) last (Australian) summer and have been loving life in Sydney. It's quite a change from what I've been used to - coming from a colder climate, it's still hard for me to eat outside without feeling like I'm on holiday.

For all those that I met in London, it was great talking to you!

Wheeling, IL 60090 - Housing Market

A local real estate appraiser looks at the current market

The village of Wheeling is located approximately 30 miles northwest of the Chicago "Loop" in suburban Cook county. The population was 34,496 at the 2000 census, and estimated to be 36,641 as of 2005. The village has a total area of 8.4 square miles.

The village is bordered by Buffalo Grove to the north, Northbrook to the east, Prospect Heights to the south and Arlington Heights to the west. O'Hare International Airport is approximately 12 miles from the Village.

According to data from the Northern Illinois MLS there were 82 sales of single family homes in 2007, down from 149 in 2006. The average sales price was $299,136.00, this was a decrease from $323,038.00 in 2006. Marketing times were an average of 127 days on the market, up over the 2006 average of 62 days.

As of February 21, 2008 there are 89 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 11.61 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -38.25%, average sales prices are down -7.39% and the days on the market were up +104.83%. This market is oversupplied and the 89 active listings have already been on the market an average of 183 days.

The condo/townhouse market had 279 sales, down from the 403 properties that sold in 2006. Sales prices saw a decrease with the average 2007 sales price at $215,430.00, compared to $218,610.00 in 2006. Marketing times were an average of 134 days on the market, an increase from the 2006 average of 82 days.

There are 253 active listings of attached homes in the MLS. Based on the 2007 level of absorption of 23.25 sales per month, this is 10.88 months of unsold inventory.

The condo/townhouse market is oversupplied, sales volume was down -30.76%, average sales price decreased -1.45%, and the days on the market increased +63.41%. The 253 active MLS listings have already been on the market an average of 174 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Wheeling, Illinois 60090. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Commercial Perspective -- 2008 Real Estate Investment Outlook

Cap rates that are coming down to earth and a market where cash is king are two highlights of Deutsche Bank Group's "2008 U.S. Real Estate Investment Outlook and Market Perspective". A few key points:

"Overview: During the past few months, most properties traded were at pricing and terms 5% to 10% below those achieved during the first half of 2007....We believe that pricing has adjusted sufficiently that core real estate, purchased in early 2008, can achieve attractive unleveraged annual returns of between 7.5% and 8.0%."

"Effective cap rates increased about 25 to 50 basis points over the past six months as property values decreased."

"The Property Markets: Primary consideration should be given to those metropolitan areas where economic growth should be strongest. The strongest markets have high exposure to international financial and professional services, defense, trade, medical and high-tech industries. Such 'Globally-Linked' markets should achieve particularly strong economic growth...They include... Los Angeles."

"Apartments: Supply constrained markets with low housing affordability will continue to outperform affordable markets, such as ... Los Angeles. In fact, we expect a widening bifurcation in performance between supply constrained and most low barrier-to-entry markets."

"Apartment Transaction Market: The weighted average cap rate was a low 6.13% compared to 6.08% last year. Cap rates in the top tier markets are holding firm, while some decompression is occurring for lesser quality assets in secondary markets."

"Industrial Properties. Gateway markets continue to be the most resilient to the economic slow down with foreign trade and high tech as the key drivers for the sector. Major land-constrained port markets, such as Southern California ... will continue to outperform."

"Industrial Property Transaction Market: Although the first three quarters [of 2007] had been particularly strong, turmoil in the credit markets interrupted potential deals and caused transaction volume to tumble. A flight to quality and fewer deals has allowed average cap rates for warehouse and flex properties to remain low, but a pricing correction is becoming apparent as the risk premium (spread between cap rates and treasuries) is widening for both warehouse and flex properties."

"Implications for Investors: With repricing well under way, opportunities are beginning to emerge for acquisitions ... Given our longer-term positive outlook for real estate fundamentals, acquisitions utilizing realistic assumptions should be attractive. Some sellers are highly motivated, and the pool of buyers is currently thin."

The overheated commercial market of 2006 and 2007 is a distant memory in the new paradigm where traditional metrics such as cap rates and cash-on-cash return determine value. Savvy investors are in a prime position to reap leveraged returns of 12% to 17% in value-added plays. Given the recent turmoil in the credit markets, cash-rich investors will be well-suited to buy good properties at excellent prices, as desperate sellers unload product that had been stagnating on the market.

http://www.adnergroup.com/

St. Charles, IL 60174 - Housing Market 2008

A local real estate appraiser looks at the current market

St. Charles is a city in Kane and DuPage County, and is located approximately 38 miles northwest of the Chicago "Loop" on Illinois Route 64. According to a 2004 census estimate, the city has a total population of 32,134. The official city slogan is Pride of the Fox, after the Fox River that runs through the center of town.

The city is bordered by the village of Wayne to the north, West Chicago to the east, Geneva to the south and unincorporated Kane County to the west. O'Hare International Airport is approximately 25 miles from St. Charles.

According to data from the Northern Illinois MLS there were 577 sales of single family homes in 2007, down from 743 in 2006. The average sales price was $468,847.00, this was a decrease from $476,773.00 in 2006. Marketing times were an average of 166 days on the market, up from the 2006 average of 122 days.

As of February 20, 2008 there are 588 active listings of single family detached homes in the MLS. At the 2007 level of absorption of 48 sales per month this is 12.25 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -22.34%, average sales prices were down -1.72%, and the days on the market were up +36.06%. This market is oversupplied and the 588 active listings have already been on the market an average of 234 days.

The condo/townhouse market had 191 sales, up from the 181 properties that sold in 2006. Sales prices saw a decrease with the average 2007 sales price at $252,224.00, compared to $258,523.00 in 2006. Marketing times were an average of 101 days on the market, an increase from the 2006 average of 85 days.

There are 134 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 8.42 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was up +5.52%, average sales price decreased -2.43%, and the days on the market increased +18.82%. The 134 active MLS listings have already been on the market an average of 185 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in St. Charles, Illinois 60174. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Kane & Dupage County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Downers Grove, IL 60515 - Housing Market 2008

A local real estate appraiser looks at the current market

Downers Grove is located approximately 22 miles southwest of the Chicago "Loop" in suburban DuPage County. As of the 2000 census, the village had a total population of 48,724. A 2003 population estimate for Downers Grove saw the population rise to 48,869.

The village is bordered by Lombard to the north, Oakbrook, & Westmont to the east, Darien to the east and south, and Woodridge & Lisle to the west.

Downers Grove offers a unique collection of homes that range from over 100 years of age,to homes of each generation. The last large scale housing developments ended in the 1980s, As of recently Downers Grove had one of the highest teardown/new construction rates in DuPage County, with small older homes demolished and replaced with much larger new houses.

According to data from the Northern Illinois MLS there were 420 sales of single family homes in 2007, down from 527 in 2006. The average sales price was $489,356.00, this was a increase from $464,982.00 in 2006. Marketing times were an average of 151 days on the market, up from the 2006 average of 109 days.

As of February 20, 2008 there are 444 active listings of single family detached homes in the MLS. At the 2007 level of absorption of 35 sales per month, this is 12.68 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -20.30%, average sales prices were up +5.24%, and the days on the market were up +38.53%. This market is oversupplied and the 444 active listings have already been on the market an average of 225 days.

The condo/townhouse market had 209 sales, down from the 290 properties that sold in 2006. The average sales price was $198,235.00, this was a increase from $182,694.00 in 2006. Marketing times were an average of 99 days on the market, up from the 2006 average of 61 days.

There are 208 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 11.94 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -27.93%, sales prices were up +8.50%, the days on the market increased +62.29%. The 208 active MLS listings have already been on the market an average of 255 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Downers Grove, Il. 60515. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows DuPage County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Oakbrook Terrace, IL 60181 - Housing Market

A real estate appraiser looks at the current market

Oakbrook Terrace is a city in DuPage County, located approximately 18 miles southwest of the Chicago "Loop". The population was 2,300 at the 2000 census. A 2003 recount gave the city a population of 2,293. The city has a total area of 1.4 square miles.

Oakbrook Terrace is bordered by Villa Park on the north, Oakbrook on the east & south, and Lombard on the west.

According to data from the Northern Illinois MLS there were only 11 sales of single family homes in 2007, the average sales price was $318,772.00. Marketing times were an average of 100 days on the market, up over the 2006 average of 49 days.

As of February 20, 2008 there are 6 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 6.59 months of unsold available inventory. These listings have already been on the market an average of 133 days.

The condo/townhouse market had 8 sales, the average sales price was $366,875.00. Marketing times were an average of 144 days on the market, up over the 2006 average of 102 days.

There are 15 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 22.71 months of unsold inventory. These listings have already been on the market an average of 232 days.

The small number of sales leads to limited statistical analysis, it appears prices are stable, however, inventory is over supplied. If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Oakbrook Terrace, Il. 60181. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Dupage County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Don't refinance for the wrong reasons

The economy is going through a rough patch, and the stock market is well below its all-time high. Mortgage rates have been dropping since the end of last year.

For homeowners, that can mean only one thing: It's time to think about refinancing your mortgage.

"If you can save on the interest you're paying, then it's time to do a mortgage refinance," explains Fred Glick, managing member of US Loans Mortgage LLC, a Philadelphia-based mortgage broker.

For some homeowners whose adjustable-rate mortgage (ARM) interest rates are rising, the low interest rates on 30- and 15-year fixed-rate mortgages offer an opportunity to refinance into something that's a known quantity.

"If you have a mortgage that's going to adjust, it's important to get into a fixed-rate program now," says Emma Butler, a certified mortgage planner with Mobium Mortgage Group, in Chicago.

In Freddie Mac's latest survey of mortgage rates, a 30-year fixed-rate mortgage averaged 5.72 percent with fees totaling 0.4 percent. A 15-year fixed-rate mortgage cost an average of 5.25 percent, plus 0.4 percent in fees.

A year ago, a 30-year mortgage cost an average of 6.3 percent, up more than a half percent, while the average 15-year mortgage cost 6.03 percent, nearly a full percentage point higher than what is available today.

Should you do a mortgage refinance now? Or, wait to see if interest rates drop further?

Read more of the Ilyce R. Glink article at Inman News

MOBILE COUNTY REAL ESTATE STATISTICS - January 2008

We have compiled the monthy statistics based on the numbers found in the GulfCoast MLS system. The reports can be found on our Active Rain Blog - http://activerain.com/blogsview/387496/Mobile-County-Real-Estate

Mobile is poised to be the fastest growing economy for the next 5 years according to Moody's Economy.com research as reference in a recent Forbes magazine article - http://www.forbes.com/2008/01/30/economy-cities-alabama-biz-cx_bw_0130econcities.html. This news is should be great for the Mobile Real Estate market.

Buoyed by this great news, we are not too discouraged by January's Real Estate statistics. According to the numbers in the GulfCoastMLS, Mobile county showed a decrease in median sales price, a decrease in the number of units sold, an increase in the number of homes available for sale, an increase in the number of days on market and and increase in the number of months supply of homes. We feel that January is traditionally a slow month and as a result most of the sales numbers were down. We anticipate that February will be much better and feel that the spring and summer months will bring more buyers to our area.

Please feel free to contact us if you have any questions. Our website is http://www.gulfregionproperties.com/

La Grange Park, IL 60526 - Housing Market 2008

A real estate appraiser looks at the current market

The village of La Grange Park is located approximately 15 miles southwest of the Chicago "Loop" in suburban Cook County. The population was 13,295 at the 2000 census. The village has a total area of 2.2 square miles

The village is bordered by Westchester & Broadview to the north, Brookfield to the east, La Grange to the south and the Cook County Forest Preserves to the west.

According to data from the Northern Illinois MLS there were 139 sales of single family homes in 2007, up from 114 in 2006. The average sales price was $396,308.00, this was a decrease from $402,414.00 in 2006. Marketing times were an average of 124 days on the market, up over the 2006 average of 64 days.

As of February 19, 2008 there are 87 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 7.51 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was up +21.92%, average sales prices increased +1.51% and the days on the market were up +93.75%. This market is oversupplied and the 87 active listings have already been on the market an average of 202 days.

The condo/townhouse market had 17 sales, down from the 24 properties that sold in 2006. Sales prices saw a decline with the average 2007 sales price at $145,088.00, compared to $173,033.00 in 2006. Marketing times were an average of 114 days on the market, up over the 2006 average of 47 days.

There are 15 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 10.63 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -29.16%, average sales price decreased -16.15%, and the days on the market increased +142.55%. The 15 active MLS listings have already been on the market an average of 164 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in La Grange Park, Il. 60526. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Homewood, IL 60430 - Housing Market 2008

A local real estate appraiser looks at the current market

The village of Homewood is located approximately 22 miles southwest of the Chicago "Loop" in suburban Cook County. The population was 19,453 at the 2000 census. The village has a total area of 5.3 square miles

Homewood's municipal neighbors include East Hazel Crest to the north, the villages of Thornton & Glenwood to the east, Flossmore & Chicago Heights to the south and Hazel Crest to the west.

According to data from the Northern Illinois MLS there were 246 sales of single family homes in 2007, down from 316 in 2006. The average sales price was $214,028.00, this was an increase from $209,799.00 in 2006. Marketing times were an average of 108 days on the market, up over the 2006 average of 76 days.

As of February 19, 2008 there are 177 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 8.63 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -22.15%, average sales prices increased +2.01% and the days on the market were up +42.10%. This market is oversupplied and the 177 active listings have already been on the market an average of 178 days.

The condo/townhouse market had 61 sales, down from the 118 properties that sold in 2006. Sales prices saw an increase with the average 2007 sales price at $109,261.00, compared to $107,408.00 in 2006. Marketing times were an average of 72 days on the market, similar to 2006.

There are 48 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 9.44 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -38.98%, average sales price increased +1.72%, and the days on the market have remained stable. The 48 active MLS listings have already been on the market an average of 134 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Homewood, Il. 60430. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Cook County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Elgin, Illinois 60123 - Housing Market 2008

A local appraiser looks at the current real estate market

The city of Elgin is located approximately 45 miles northwest of the Chicago "Loop" on the Fox River. Most of Elgin lies within Kane County, with a portion in Cook County.

As of the 2000 census, the city had a total population of 94,487, making it the eighth-largest city in Illinois. As of 2007 Elgin's population is estimated to be at 101,903, and the Northeastern Illinois Planning Commission forecasts a population of 167,375 in 2030.

The city's neighbors include Sleepy Hollow & West Dundee to the north, Hoffman Estates, Streamwood & Bartlett to the east, South Elgin to the south, and Gilberts to the west.

According to data from the Northern Illinois MLS there were 821 sales of single family homes in 2007, down from 1,183 in 2006. The median sales price was $230,000.00, this was a decrease from $233,300.00 in 2006. Marketing times were an average of 122 days on the market, up from the 2006 average of 90 days.

As of February 19, 2008 there are 981 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 14.34 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -30.60%, median sales prices up +1.41%, and the days on the market were up +35.55%. This market is oversupplied and the 981 active listings have already been on the market an average of 202 days.

The condo/townhouse market had 385 sales, down from the 533 properties that sold in 2006. Sales prices are stable with the 2006 mean sales price of $187,000.00, unchanged for 2007. Marketing times were an average of 105 days on the market, an increase from the 2006 average of 79 days.

There are 298 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 9.31 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -27.76%, sales prices have remained stable, the days on the market increased +32.91%. The 298 active MLS listings have already been on the market an average of 166 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Elgin, IL. 60118. Our appraisers are certified by the State of Illinois. We have experience with all types of residential property and appraise single family homes, townhouses, condominiums as well as small residential income properties. When you need to find an appraiser in Kane County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Elmhurst, IL 60126 - Housing Market 2008

A local real estate appraiser looks at the current market

The City of Elmhurst is located approximately 15 miles West of the Chicago "Loop" in suburban Dupage County. According to the 2000 census the population was 42,762. The city has a total area of 10.3 square miles.

Elmhurst is bordered by Bensenville to the north, Northlake, Berkeley and Hillside to the east, Oakbrook to the south, and Villa Park and Addison to the west.

According to data from the Northern Illinois MLS there were 400 sales of single family homes in 2007, down from 449 in 2006. The average sales price was $544,290.00, this was an increase from $537,389.00 in 2006. Marketing times were an average of 184 days on the market, up from the 2006 average of 119 days.

As of February 18, 2008 there are 422 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 12.66 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -10.91%, average sales prices up +1.28%, and the days on the market were up +54.62%. This market is oversupplied and the 422 active listings have already been on the market an average of 250 days.

The condo/townhouse market had 78 sales, down from the 115 properties that sold in 2006. Sales prices saw a increase with the average 2007 sales price at $298,285.00, compared to $290,547.00 in 2006. Marketing times were an average of 166 days on the market, an increase from the 2006 average of 83 days.

There are 136 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 20.92 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -32.17%, average sales price increased +2.66, the days on the market increased +100.00%. The 136 active MLS listings have already been on the market an average of 208 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Elmhurst, Il. 60126. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Dupage County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/

Wheaton IL, 60187 - Housing Market 2008

A local real estate appraiser looks at the current market

Wheaton is located about 25 miles west of Chicago and Lake Michigan. As of the 2000 census, the city had a total population of 55,416.

The city has a total area of 11.3 square miles. The city dates its founding to land claims made in 1837 and 1838 by Erastus Gary and two Wheaton brothers, Jesse and Warren. A plat for the city was filed with the county in 1853. The brothers led a successful campaign in 1867 to make Wheaton the county seat.

The village is bordered by Carol Stream and Glendale Heights to the north, Glen Ellyn to the east, Naperville and Lisle to the south, and Winfield to the west.

Wheaton is the seat of DuPage County, one of the most affluent, fastest growing counties in the United States. The city is located in close proximity to I-88 and I-355. There is a Metra rail line with a station in downtown Wheaton. O'Hare International Airport is approximately 15 miles from the village.

According to data from the Northern Illinois MLS there were 476 sales of single family homes in 2007, down from 517 in 2006. The average sales price was $433,148.00, this was a slight decrease from $433,4642.00 in 2006. Marketing times were an average of 121 days on the market, up from the 2006 average of 89 days.

As of February 17, 2008 there are 367 active listings of single family detached homes in the MLS. At the 2007 level of absorption this is 9.21 months of unsold available inventory. A 3-4 months supply of inventory is considered "in balance", this level is an oversupply.

To recap 2007 for detached homes, sales volume was down -7.54%, average sales prices were down only -0.07% and are considered stable, and the days on the market were up +35.95%. This market is oversupplied and the 367 active listings have already been on the market an average of 220 days.

The condo/townhouse market had 221 sales, down from the 245 properties that sold in 2006. Sales prices saw a decrease with the average 2007 sales price at $213,845.00, compared to $216,775.00 in 2006. Marketing times were an average of 83 days on the market, an increase from the 2006 average of 65 days.

There are 130 active listings of attached homes in the MLS. Based on the 2007 level of absorption this is 7.06 months of unsold inventory.

The condo/townhouse market is over supplied, sales volume was down -9.79%, average sales price decreased -1.35%, the days on the market increased +27.69%. The 130 active MLS listings have already been on the market an average of 192 days.

If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.

Make sure that your listing is competitive, get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house to sell in the current market.

Citywide Services provides residential appraisal service in Wheaton, Il. 60187. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find an appraiser that knows Dupage County contact Citywide 1-800-405-9718

http://www.appraisercitywide.com/