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Market Conditions in Lisle : Real Estate Advice

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  • Local Info3
  • Home Buying8
  • Home Selling4
  • Market Conditions2

Activity 3
Sun May 22, 2016
John Bates answered:
There are many parcels available where the sellers are willing to negotiate. You just might have to wait it out with the seller. To put a value on a piece of land many factors need to be taken into account. Does the property have city services available? Water, Sewer, can it be subdivided, and so on. To many variables to say what the "Fair Market Value" would be. ... more
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Mon Mar 8, 2010
Steve Wagner answered:
I do not personally think that Average Maket Time has any more relevance than comparing Original List Price to Final Closed Price. The commonly reported metric is Final List Price to Closed Price as the "standard discount" for a community and price. Should we not also then look at the elapsed time from when the Final List Price is instituted until when the property went under contract as the real selling time once the sellers "got the price right"? Why don't we? Because the data has to be extracted and the time period manually calculated. When this is done the answer seems to come up to about 25 - 25 days just about anywhere that I have calculated it. Coincidentally, I just performed that exercise for 60532 a couple of weeks ago for the price range of $250K - $300K and the answer was 25 days. Make sense? ... more
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Wed Oct 9, 2013
Ken Tracy answered:
Hi Paul. Not totally sure if I understand your question. I'll take a guess.
There are neighborhoods that are starting to "show signs of recovery". They are usually the ones that have fallen the fastest...
For instance, you posted this in Lisle. There is a subdivision there called River Bend. Prices seemed to have bottomed there last year and are starting to inch up.
Good luck,
... more
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