Naperville, IL Real Estate News

By Dan Jungclas, ABR, ePRO, Broker
(RE/MAX of Naperville)
As of November 16, 2006....Sold PropertiesSold Price Range# ListingsAvg. Days on Mkt$200,000 - $249,9991175$250,000 - $299,999470$300,000 - $349,999389$350,000 - $399,9995100$400,000 - $449,9995100$450,000 - $499,9994152$500,000 - $549,9994161$550,000 - $599,9991102$600,000 - $699,9994144$700,000 - $799,9991180$1,000,000 - $1,499,9991280  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume125$433,000$467,267$1,299,900$232,000$15,419,800Source: Multiple Listing Service of Northern Illinois
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By Dan Jungclas, ABR, ePRO, Broker
(RE/MAX of Naperville)
   As of November 16, 2006....   Sold PropertiesSold Price Range# ListingsAvg. Days on Mkt$150,000 - $199,999110$200,000 - $249,9992960$250,000 - $299,99911366$300,000 - $349,99924053$350,000 - $399,99923170$400,000 - $449,99918071$450,000 - $499,99919461$500,000 - $549,99913279$550,000 - $599,99910980$600,000 - $699,99913782$700,000 - $799,9995896$800,000 - $899,99949133$900,000 - $999,99921196$1,000,000 - $1,499,99960243$1,500,000 - And Over15231  Sold Properties SummaryAvg. MTMedian Sold PriceAvg. Sold PriceMax. Sold PriceMin. Sold PriceTotal Volume81$445,000$504,513$2,295,000$155,000$791,581,312 Source; Multiple Listing Service of Northern Illinois
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By Scott Gerami, Helping people find their place in the world!
(Compass Real Estate)
I just compared data for closed properties in Naperville Illinois for October 1st 2005 thru October 31st 2005 and compared it to the same time this year. Findings:#1-27.74% less homes closed in 2006. #2-The homes that did close took 21.68% longer than the homes closed in 2005. (101 days in 2006 vs. 83 days in 2005) #3-The sale Price to list price ratio dropped from 97.12% in 2005 to 96.21 in 2006. #4-The average sale price of closed properties rose in 2006. 17.45% I think it's interesting that the prices are going up but the volume is going down? I will be keeping an eye on these stats month by month. If anyone has a comment or opinion on what exactly might be causing this to happen please feel free to contact me. Enthusiastically, Scott Gerami-ABR,GRI,e-ProBroker OwnerReal Time Realty,...
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By Scott Gerami, Helping people find their place in the world!
(Compass Real Estate)
After years of hearing from successful sellers that they didn't have to do a thing to sell, they now need to understand how they can stand out from their competition. Here is a handy list to help sellers determine if some features in their home might need some attention. Test all door and cabinet knobs. Replace mismatched or inexpensive hardware for a quick update. Buyers rarely can get beyond a knob that comes off in their hand as they attempt to use a door.  Take the time to paint walls, trim and ceilings. Keep adjoining rooms in one color palette, which will make your home appear larger. Clean up spills from messy painters. Hire professionals to paint mullions on windows and staircase spindles.  Slipcover mismatched furniture in a room that requires visual unification.  Discover way...
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By Scott Gerami, Helping people find their place in the world!
(Compass Real Estate)
  Many homebuyers frequently wonder, "If I am shopping for a home loan will my credit be affected each time a credit report inquiry is made?" It's a logical and intelligent question to ask; the answer is: not significantly, if the credit checks are done in a short period of time. When a credit check is made by a potential lender it is called a hard inquiry. When a hard inquiry occurs it does have an impact on your credit score. However, when you're shopping for a mortgage or a car loan, credit bureaus typically cluster the hard inquiries together because the credit reporting bureaus understand that the consumer is shopping for the best loan. "So for example, if you're shopping for a new mortgage and three potential lenders pull your credit score within three weeks, that is looked at as ...
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By Scott Gerami, Helping people find their place in the world!
(Compass Real Estate)
CLOSED LISTINGS - Detached Single  MLS #Street #CPStr NameCityArea# RmsBedsBathsLOList PriceSold PrClosed DateStatus Date1  06193082311 Danbury DRNAPERVILLE540731.122993$279,900$267,00011/06/200611/07/20062  062688311459 ENCINA DRIVENAPERVILLE54074223120$310,000$296,00011/13/200611/13/20063  062591921412 WestglenNAPERVILLE540842605$319,900$291,00011/01/200611/02/20064  06219938230 ELMWOOD DRNAPERVILLE540952.123156$329,900$290,00011/03/200611/03/20065  06280205375 LARCHMONT CTNAPERVILLE540732.121361$349,900$349,90011/06/200611/07/20066  0626057811S032 West StreetNAPERVILLE540942.123268$359,900$337,00011/01/200611/01/20067  062267771519 CHARLOTTE CIRCLENAPERVILLE540842.122782$367,990$361,00010/16/200611/11/20068  06309721401 MENOMINEE LANENAPERVILLE540942.123038$394,900$360,00011/09/20061...
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
It's interesting that in a recent Fine Homebuilding magazine, where they picked the 25 most important homes in America, Frank Lloyd Wright's Fallingwater graced the cover. And, not only does the house sit over water, but there's water running inside which is causing damage.Now, what does FLW have to do with Naperville you ask. We have an historic district in the downtown area and several homes were built utilizing FLW's studio. It's easy to recognize these homes...once you know what to look for.In fact, Illinois has probably the largest number of FLW homes, as he lived in Oak Park, Illinois, a near western suburb. His family home is now part of the trust and they have tours of the house. The original furniture is still in the house. And, you can see the Japanese prints he loved in his o...
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
According to NAR's online magazine, "Front porches are making a comeback - sort of.After porches practically disappeared in the last half of the 20th century, the number of new houses with porches has increased about 11 percent in the past decade, according to the National Association of Home Builders."  Interesting because now that I think about it, what I've seen in some of the newer Naperville construction homes are pseudo porches...a small cement area with a covered roof at the front door.  We have a 'real' porch...big enough to put out plants, a love seat, tables and chairs. And, during the summer months it's a quiet place to read or relax as we have shrubbery that provides a screen.   How do you feel about a front porch?
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
                   Naperville single family sold homes from January 1, to October 31, 2006 There were 8   2 bedroom single family homes sold with an average price of $312,175 and a market time of 46 days. There were 152   3 bedroom single family homes sold with an average price of $348,800 and a market time of 65 days. There were 505   4 bedroom single family homes sold with an average price of $534,500 and a market time of 79 days. There were 56   5 bedroom single family homes sold with an average price of $762,335 and a market time of 127 days.                          Statistics from Multiple Listing Service of Northern Illinois
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
We're getting close to cold, snow and ice weather.And, I thought that I'd share with you my emergency box which is in the trunk of my car.I use a transfer box and put the following items in it:A fleece blanketA Roll of duct tapeA flashlightA small portable radioA plastic bag filled with food, nuts, raisins. Products that would be edible under most circumstancesA bag of kitty litterA can of WD-40A bottle of window washing fluidAn ice scraperWhat else would you put into your emergency box?
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
Naperville Stats    as of    October 26, 2006                                 Condo & Town homes  Currently there are 295    2(or less) bedroom homes on the market with an average list price of $248,024 and a market time of 105 days. Currently there are 122   3 bedroom homes on the market with an average list price of $388,811 and a market time of 115 days.                           Currently there are 2   4 bedroom homes on the market with an average list price of $714,850 and a market time of 79 days. Highest Priced Listing: $1,800,000 Lowest Priced Listing: $107,000 Statistics compiled from MLSNI
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
Naperville Stats    as of    October 23, 2006 Single Family detached homes Currently there are 178   3 bedroom homes on the market with an average list price of $426,881 and a market time of 118 days. Currently there are 765   4 bedroom homes on the market with an average list price of $699,566 and a market time of 156 days. Currently there are 139   5 bedroom homes on the market with an average list price of $1,142,634 and a market time of 199 days.   Highest Priced Listing: $3,300,000 Lowest Priced Listing: $234,900  Statistics compiled from MLSNI        
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
Have you noticed that home interiors now have 'Tuscany Gold', 'moss', 'eggplant' and 'chocolate' instead of the good old 'relocation beige.'Now, some of these colors are lovely. But having seen homes where every dining room is a claret, a burgandy, a merlot, I'm wondering if we aren't over-doing it and in the process dating our property.I showed a home that had 'Tuscany Gold' on all the walls...and the ceiling. I felt like a hot dog covered in mustard. Too, too much. And, I've noticed that a home I showed in February which had a living room in moss colored walls with a dark green ceiling, is still on the market UNSOLD...but the price is reduced!And, some years ago a home was on the market whose kitchen had black granite counters and dark cabinets with mauve and grey walls. I thought I w...
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
I've been going to closings for years. In Illinois we have a CLOSING. No escrow for us.When I first started, a closing would last 30 minutes, at the most 45. The sellers had a few papers to sign as did the buyers. Money and keys were exchanged. And, they'd schedule closings every hour.Today? Most closings take closer to 2 hours. And, if for some reason you're caught closing at 4pm on a Friday afternoon, expect your closing to take forever. Why? Well, now that we have 2 inches of documents to sign, which by itself takes a good hour to go over. And, the lender.The hang-up is the 'wire transfer.' In order for the money to get into the right account the figures have to be approved by the lender, then a confirmation number is issued, THEN the wire is sent.Yesterday, the approval and confirma...
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By Angus in Naperville IL
(RE/MAX of Naperville)
Declining market you say?   I’ve had fun all year watching the sales in excess of $1,000,000 luxury homes in Naperville through the MLS.   It's the one thing everybody always wants to know about... "what's going on with all those big houses?"  I like to be ready with some basic information that generally blows them away... it's just a matter of paying attention to what people want to know.... being able to answer questions with authority off the top of your head solidifies your position as an expert . A little background about the $1,000,000+ market in Naperville:In 2005 there were 59 single family sales (no attached housing)In 2004 there were 37 single family sales (no attached housing) There are currently 200 active listings over 1 million with 15 under contract/pending status   But i...
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By Dan Jungclas, ABR, ePRO, Broker
(RE/MAX of Naperville)
That's the theme of the 175th Anniversary event that will be held from 9 a.m. to 6 p.m. Saturday, October 14, in Frontier Park, located at 3380 Cedar Glade Drive.  The last event of our 175th Anniversary won't be an ending, but a look toward the future.Activities range from a one-mile family health walk and half-day wellness seminar, sponsored by Edward Hospital and Health Services, to musical and theatrical performances by students from parochial schools, Naperville School District 203 and Indian Prairie School District 204. In addition, there are interactive, family-friendly activities such as a community mural, sponsored by the DuPage Children's Museum, and a "Soaring into the Future" kite fly, sponsored by the Naperville Park District.For a look at the future of technology and renew...
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By Dan Jungclas, ABR, ePRO, Broker
(RE/MAX of Naperville)
Depite their popularity, those whimsical dragons on display this summer in the downtown Naperville area were unable to bring the Naperville United Way the kind of money their predecessors had in years past. Raising some $80,000 during the Mystical Dragons Fine Art and Sculpture Auction held Friday night at Bobak's Signature Events in Woodridge, the net fell short of the organization's goal of $100,000. It was the lowest amount raised in the six years the United Way has held the annual exhibit and auction. Last year's Magical Giving Garden sculptures exhibit, which also was the first to include fine art pieces, earned $148,000. This year's four fine art pieces, which included a table and chairs, a mosaic column, a wall sculpture and a 4½-foot dragon statue, raised about $28,000. The Rive...
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By Eileen Landau, ABR, CRS, e-PRO
(BAIRD & WARNER, NAPERVILLE)
So, we get comfortable with all the abbreviations that are on our MLS. Our buyers don't.Here's an actual email from a confused buyer:"What does 2.2 bathrooms mean?"Hi Shontel,2.2           means                2 full bathrooms (shower or tub)                                         2 powder rooms (NO shower/tub)2.1          is what most homes haveI bet that the half bath is in the basement. That's where I'd put mine."Thank you!  I would have never figured that one out!  I thought it was a typo-LOL!! HAAHAHAH"So, we should never take anything for granted, should we?
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By Angus in Naperville IL
(RE/MAX of Naperville)
Last year when Cingular announced that it was turning on it's new 3g service (UMTS) in the Chicago area, I was very excited... until I saw the map. The whole Chicago area (blue) was getting the service except the western suburbs and Naperville (orange) They couldn't have honed in any better on my specific market area if they had tried.To say that I was disappointed would be an understatement! Here I am, a guy that revels in his geekdom... and I've been excluded from this great freedom! (I know that I could have switched to Verizon but their service is lousy here (doesn't work in my house or office)Being a geek, I purchased a 3g modem anyway (eBay) and decided to make use of the service whenever I participate infunctions in the desirable blue area. The modem tells you by color what syste...
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By Angus in Naperville IL
(RE/MAX of Naperville)
Naperville is used to the honors... "best place to raise children" one of the best places to retire, one of the best walking cities,  Best library system, etc...But Money Magazine is getting close to the truth.... in 2003 Money Magazine said that Naperville was the best  place to live in the midwest, in 2005 they said that Naperville is the third best place to live in the U.S.This month they've released the new data, and Naperville is now the #2 place to live in the U.S.We appreciate the kudo's but maybe next year they'll get it right...#1  
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