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Market Conditions in 60302 : Real Estate Advice

  • All37
  • Local Info4
  • Home Buying13
  • Home Selling5
  • Market Conditions0

Activity 5
Thu Dec 8, 2011
Anna M Brocco answered:
If you need to sell, and are ready to sell, no reason not to consider the idea; invite a few local agents from different realty companies and ask for a cma, comparative market analysis; review the data, ask opinions and then make your determination.... ... more
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Tue Jul 14, 2009
Laurie Christofano answered:
Hi Tracie,

I recently compiled the stats on the single family homes that closed in June '09 in Oak Park...

60302: http://budurl.com/ler9
60304: http://budurl.com/3cxg

I'd be happy to provide you with similar info for condos in the area...

The long and the short of it is that pricing, the home's showing condition, and marketing determine the DOM. We've sold several single family homes and condos in the area in the past year well under the average DOM.

We'd love to help you with your Oak Park area real estate needs. Please contact us via the website below if you have further questions. Best of luck!

Laurie & Kyra, The Pych Team @ RE/MAX In The Village, Realtors
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Mon Oct 19, 2009
Dorothy M. Reid answered:
If you are asking about monthly Assessments in a condominium building... Assessments are set by each individual building owners/association. And can vary greatly based on the amenities in the building. If you had a specific building in mind it would be easy to provide you with the %increase in that building, but not for the whole market.

Let me know if you have a specific building in mind or even a couple, and we can see.
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Sat Mar 22, 2008
Diane Glander answered:
Exactly. Therein lies the problem for a lot of buyers between 2004 and 2005 when most markets peaked. They purchased high and are trying to sell for more now. It just doesn';t work. couple that with the fact that most of those loans were ARMs which are now renewing at high rates and some people have to sell, but cannot even get what they paid for their house! ... more
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Thu Dec 8, 2011
Paul Slaybaugh answered:
I don't see it that way, Ruth. I can understand that perspective from the consumer, but to a respectable agent, future business is equally or more important than the current deal. There is no way that my clients come back to me or refer their friends and family if I don't put their interests first. As for the difference in commission on the sale of a home listed for 500k versus 510k or 520k, it really is peanuts in the grand scheme of things. If an agent is really conflicted about doing what is right for the client versus making another few hundred bucks ... wow, is all I can say.

Further, I don't see a change from the commission structure anytime soon. I don't think it would be in anyone's best interest. It is a lucrative industry for those who excel. It has to be given the uncertainty and expense involved. If you chase away these top notch agents, and subsequently discourage the best and brightest from entering the profession, it turns into amateur hour (more so than it can currently be). The last thing this business needs is less professionalism.
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