The longer I am a Real Estate broker, the deeper my appreciation of the fact that it is a market. Prices are determined through the interplay of supply and demand. Streamwood is an interesting community. I consider it undiscovered and therefore totally under rated. A diverse range of housing options from no-frills starter homes and town homes to upscale deluxe homes. All priced substantially below equivalent properties in Schaumburg. No one can predict the future. Look at what happens in the stock market. When markets boil people make ridiculous predictions to the upside (remember all the DOW 25,000 and even DOW 100,000 predictions made at the last market top). When markets tank people make ridiculous predictions to the downside (remember DOW 3,000 and even DOW 1,000 when the market hit a bottom a year ago). Unlike the stock market, your home provides the necessity of shelter. If you don't own a home you must rent to have shelter. So, the best move a credit-worthy renter can make now appears to be to buy a home where the monthly mortgage payment (PITI) would be at or below what they are paying for rent. This is certainly possible in Streamwood. There are starter homes on the market there for $60,000. To take advantage of the homebuyers tax credit, you must be under contract by April 30 (less than 100 days away). The market may be slower than 2007 but it is no where near as bad as winter of 2008. The homebuyers tax credit is working and helping starter homes sell. Prices on starter homes could start to rise in the next few months. If you would like to schedule an appointment to discuss specific options tailored to your needs, please give me a call or drop me an email. We can also sit down and talk to members of my lending team who can run the numbers for you.

Ed Plaskacz
Prudential Starck, REALTORS
630-561-0885
AskEdAboutRE@hotmail.com

Here is one prediction.
http://www.housingpredictor.com/illinois.html

Keep in mind, predictions are not always right.

One other thing to consider. interest rates.
starting at an even 5% interest rate.
6% you lost 11% buying power
7% you lost 24% buying power.

a small 2% increase in interest rates and housing just lost 1/4 of its value if monthly incomes and payments remain constant. Interesting isn't it?
Prove it yourself. Look below
http://www.trulia.com/mortgage-calculators/03/mortgage-payments/
Take the monthly payment at 5% which is $536.82
Take the monthly payment at 7% which is $665.30
subtract 536 from 665. $128.48 is the difference Divide 128.48 into 536.82 and you get .2393 (24% or close enough) what does a 24% decrease in buying ability do? Think about it.

"Are you asking if prices are at the bottom? Don't know as my crystal ball is all cloudy just like everyone else that is trying to predict what is going on in the market. The more I read, the more I realize the people writing the stats are not in real estate, just columnists that don't know what they are talking about. "

Has real estate ever once in history bottomed in price at record low interest rates? Nope. Massive realty price reductions are in progress and will accelerate as rates and unemployment continue upwards.

The NAR and its realtors have well shown how averse they are to the truth regarding real estate which explains why those outside of real estate have vastly more credibility.

If you take Steve's advice, we should all be committing suicide by years end! What a happy guy! Asking about pricing in Streamwood is a delicate question. If we have too many sellers, prices will further lower. If we have too many buyers for starter homes, the market will heat up. Are you asking if prices are at the bottom? Don't know as my crystal ball is all cloudy just like everyone else that is trying to predict what is going on in the market. The more I read, the more I realize the people writing the stats are not in real estate, just columnists that don't know what they are talking about.
A more important factor for a buyer would be the anticipation of interest rates going higher in the end of March. For every 1/4 rate in interest rates, more buyers cannot afford a home which is just basic economics.
I have included a few links on the Streamwood Market -

http://activerain.com/blogsview/1301747/streamwood-il-market…

Lyn Sims
RE/MAX Suburban
Schaumburg IL (847)230-7324

Carl,

You have miscalculated how profound the realty devastation will be:

http://www.dailyreckoning.com.au/images/dr_20091222A.jpg

It's a great to buy! Boy, Realtors have been saying that every year as the market prices take a nose dive. It's a great time to buy in Streamwood if you can find a property that is 10-20% below the comps. This way you can weather out the further drops that WILL happen. Generally this would mean a distressed property owned by the bank or a short sale.

I've purchased 2 properties a year since 2007 in The Schaumburg market and Im not upside down since I will only deal with foreclosure and short sales.

Find a realistic realtor that won't spout off

Ga. Unemployment Matches Record High

http://www.13wmaz.com/news/local/story.aspx?storyid=73919&am…

Todays buyers are guaranteed to be upside down on the mortgage. Go ahead and buy because your future distressed sale will help to make housing affordable.

Some economists have predicted that generally the end of the downward price direction is April 2010.
Each property is different and you will continue to see good deals on many homes for years to come.
It may be that there are no free $8000 tax credits or low rates or such a good supply of choices on homes.
I could direct you to the 5 best deals in Streamwood, if you are not already working with an experienced local Realtor.

Bob Brandt
847-230-7303
bob@realtybob.com

It is a great time to buy a home. Rates are low and prices of homes are great too. Plus you have a tax credit on your purchase prior to April 30, 2010. Need more information, give me a call.

Dennis Toomey
RE/MAX TERRITORY
Cell (847) 338-0180
Fax (847) 956-2844
E-mail: dtoomey@remax.net
Web site: http://www.StreamwoodHome.com

There are some great deals out there right now. You have to look at each property on an individual basis. Although the market is very busy right now nobody can tell you what future prices will be. If you would like a free customized home buying website set up based on your search criteria feel free to give me a call on my cell at 847-977-7024 and I will set this up for you.
Greg/REMAX