Just read in the Westmont Progress that parts of Westmont are going to have a new garbage pick up day. Anyone in Westmont South of 63rd and East of Cass will now have their pick up on Friday instead of Tuesday.

The change goes into effect the week of March 16th.  Some popular streets in that area include Richmond, Charleston Court, Falcon Place and Ridge Road among others.  So have your garbage and recycling curbside by 6am on Friday, March 20th.

If you have any questions you can contact me and I’ll help find out if you’re effected by the change.  Otherwise you can contact Waste Management at 800-796-9696.

Click here to take a look at a map of area.

Let’s take a look at Lisle, IL from January 2007-January 2009.  We will be looking at Median Sale Price, Days on Market, Months Supply of Inventory and the # of units For Sale, Sold, Under Contract and New to the market.

The Median Sale Price for Lisle in January 2009 was $315,000.  Actually that is exactly what it was two years ago in January 2007.  So we’re looking at a 0% change over the past few years.

Total # of units for sale in January 2009 was 120.  Compare that to 131 in January 2008 and 111 in January 2007 and you’re looking at an increase of 8%.  Total number of sold in the three January’s include 3 in 2009, 8 in 2008 and 8 in 2007.  A decrease of 62%.  Properties under contract have gone down 40% over the past 2 years.  With 6 under contract in ‘09, 9 in ‘08 and 10 properties under contract in ‘07.  Now let’s look at New to the market.  In 2009 we added 33 properties.  Compared to 28 in both 2008 and 2007.  We increased by 18%.  So, just like everywhere else, we are adding more properties to the market then putting them under contract or selling them.  Thus, inventory supply goes up and prices can go down.

The Months Supply of Inventory for Lisle in January 2009 was 15.7 months.  Much higher than the 8.4 we saw same time of year 2007.  An increase of 87%.

The Days on Market don’t look as bad.  We actually went down to 60 days compared to 80 in 2007.  Keep in mind that 2007 is based on 10 properties and 2009 only 6.  % of properties under contract are also down 44%.  We had 9% under contract for January 2007 and now we are looking at numbers closer to 5% in 2009.

[View with PicLens]

As always you can contact me with any thought or questions.  Enjoy the statistics.  Feel free to take advantage of my MLS search to view properties currently on the market.

It’s February.  It’s cold outside.  The bit holidays are behind us and the fun summer and spring events are still a few months away.  So we should all just stay indoors and watch TV, right?  Wrong.  I say we get out and participate.  Winter events in the early part of the year may not be the biggest but there is something about winter time that brings out the creative aspect of getting people together.

This Sunday, February 22, is the 10th annual “Chicago’s Best Wing Fest.”  The event, which started in 2000, brings 20 of Chicago’s best “Wing Restaurateurs” together to compete.  The even has grown in size every year with nearly 2,500 in attendance last year.  Cost is $25-45 and it’s for charity.  They’ve done a great job in raising more than $100,000 for charity since it’s first year.  Details:

What:  Chicago’s Best Wing Fest

When:  Sunday, February 22, 2009 @ 11:00am

Where:  Bailey Auditorium
1340 W. Washington  (WEST LOOP)
Chicago, IL  60607

Cost:  $24 for general admission.  $50 gets you VIP drink package, VIP lounge and parking pass.

Let me know if you go.  I’d love to hear to see some pictures.  Enjoy!!

Let’s take a look at how Downers Grove, IL has done in the month of January from 2007 through 2009.  We’ll look at Median Sale Price, Days on Market, Months Supply of Inventory and finally # of Active, Sold, Under Contract and New.

The Median Sale Price for January 2009 was $300,000.  That number is down 27% from 2007 when we had a median of $410,000.  We’re only down 6% from last January where the median sale price in Downers was $319,000.

Months Supply of Inventory (MSI) for January 2009 in Downers Grove was 19.3 months.  That figure is up 112% over the past two years.  In 2007 were were looking at 9.1 months which still is a buyers market but not as strong as what we’re in now.  January 2008 saw an MSI of 18.3.

The average Days on Market (DOM) for properties under contract in January 2009 was 113 days.  That figure is up 39% from two years ago.  In January 2007 we were seeing market times closer to 81 days.

Now the hard numbers.  Total # of active listings in Downers Grove for January 2009 was 426.  Down just 5% from two years ago.  Total # of properties under contract was 18.  Down 54% from 2007.  Total # of properties sold in January 2009 was 11.  Down 71% from 2007.  And finally the # of new properties to the market for January 2009 was 84.  Down 29% from new to market in January 2007.  Here in lies the problem.  If you add the # of under contract to the # of sold and that does not surpass the # of new….you see how we are still adding to the current inventory.  Thus Days on Market and Months Supply of Inventory continue to rise.

[View with PicLens]

If you have any questions just let me know.  I invite you to search for properties yourself on my MLS search.  Enjoy!!

Putting in a new deck?  New fence?  Mailbox?  Shrub, bush or other landscaping?  What are your responsibilities when it comes to any outdoor project you may be interested in?  Many people think that the company you hire is going to take care of everything.  Well, when it comes to underground utility wires  you may want to error on the side of caution and make the request yourself.  A minimum of two days before you start your project (whether you do it yourself or hire professionals) you must contact someone to mark the utility lines that are underground.  So who do we call?

I installed a wood fence in my yard last summer for my two dogs.  I found the company I wanted to use, filled out the proper paperwork, applied for the proper permits and wrote the proper checks.  At the end of it all I was told to call 8-1-1 and put in a request for utility wires to be properly marked.  8-1-1 is an easy to remember number that will connect you to the right company depending on where you live.  If you’re in the suburbs of Chicago you’ve probably heard of J.U.L.I.E. and you can contact them direct if you’d like.  If you’re in the City of Chicago limits you’re looking at contacting DIGGER.  Rather than remember all of this PLUS their phone numbers all you have to do is call 8-1-1 and they’ll get you set up.

Any project in your yard that require a shovel and you must follow these simple instructions.  Cost to you for calling 8-1-1?  NOTHING! They are a non-profit organization that was put together to make sure you don’t wind up dead putting in that new shrub in the back corner or the new mailbox that looks like a miniature version of your house.  Any digging and you must!  Here are some forms and brochures from JULIE & DIGGER:

Click Here to Download Digger Direct Brochure (City of Chicago)

J.U.L.I.E. Locate Request Form (Suburbs of Chicago)

Good luck and feel free to contact me with any questions.  Visit the website above as well as they are packed with information and statistics regarding properly marking these utility wires.  Enjoy!

Okay.  Updating my update on the First Time Home Buyer Tax Credit. Here is a closer look at the new and improved First Time Buyer Credit as we have seen it passed as part of the American Recovery and Reinvestment Act or the Stimulus as played on TV:

1. The $7,500 credit (that was to be paid back) will now be $8,000 or 10% of the purchase price not to exceed $8,000 and it  WILL NOT HAVE TO BE PAID BACK.  A TRUE CREDIT!!
2. Eligible property includes any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence (no change from previous bill.)
3. Income limitations are the same.  Full amount of credit available to individuals with a gross adjusted income of no more than $75,000 ($150,000 on joint return.)  Phases out above those caps not to exceed $95,000 & $170,000 (no change.)
4. THIS REMAINS IN EFFECT ONLY FOR FIRST TIME HOMEBUYERS! First time homebuyer is anyone who has not owned a principal residence 3 years previous to purchase (no change.)
5. Recapture.  If the home is sold within 3 years of purchase the entire amount of the credit is recaptured upon sale.  This applies only to homes purchased in 2009.
6. Still a small window of opportunity.  This expires on December 1, 2009.
7. Effective date.  All revisions to the old bill are effective as of January 1, 2009.  Translation:  if you purchased in after January 1, 2009 and before December 1, 2009 and meet all the other criteria this bill is for you.  If you purchased in 2008 you do not qualify.  The $7,500 credit is still in play for you just not the new one.
8. NEW UPDATE…LEARN HOW SOME CAN USE THE CREDIT AT THE CLOSING TABLE AND NOT HAVE TO WAIT!!

So we have increased the credit, extended the termination date on the credit and made it a true credit.  No payback if you don’t sell the property within 3 years of purchase.  I’ll take it!  I was hoping for a little less restriction (all buyers-not just first time buyers) but it has improved.

Click Here to Download a PDF version of the First Time Home Buyers Credit.

**From reading you can gather that I am a Real Estate Agent.  That being said please go over all of this information with your accountant or whoever does your taxes.  Make sure you qualify and meet all the requirements in order to take advantage of this credit.  Good luck! **

I was introduced to this new online tool that could really help buyers organize the properties they find online.  At first I was skeptical on its value but I did sign up and I did play around with it and IT IS COOL!!  It’s called “Dwellicious.”

Basically it is a bookmarking site for all of the properties you find on all the different real estate sites (mine included.)  Once you find sometihng you are interested in you click on a button in your bookmarking/favorite toolbar.  It automatically adds it to Dwellicious where you organize all of the properties from all the different sites.  You can add notes, look at photos, grade its “walk score” and even visit the original site where you found it.  Here is what you need to do to take advantage:

1. Click on the link here. This will take you to the sign up page.
2. Sign up for your free account.  There is a video explaining how it works.
3. Install the “Add to Dwellicious” button to your bookmarking toolbar.
4. Start searching on your favorite sites.
5. Start adding your favorite properties to Dwellicious.
6. Go to Dwellicious to see all of your properties nice and organized all in one spot.

They have pretty good instructions on how to sign up and get things rolling.  If not you can contact me and I’ll help you through it.  If you do sign up or already have an account I’d love to hear what you think.  I just signed up and did a few test runs last night and I thought it was pretty cool.  Enjoy!!

Here are the Average vs. Median single family home prices for Naperville, IL in 2008:

I will break down the exact prices, the number of units for each month that were sold and how close median and average were for any given month.

• The Average price for January 2008 in Naperville was $495K and the Median price was $450K.  A difference of 45K.  Median was 91% of Average and this is based on 59 sold units.
• The Average price for February 2008 in Naperville was $ 482K and the Median price was $443K.  A difference of 39K.  Median was 92% of Average and this is based on 71 sold units for the month.
• The Average price for March 2008 in Naperville was $505K and the Median was $430K.  A difference of $75K.  Median was 85% of Average and this is based on 65 sales for the month.
• The Average price for April 2008 in Naperville was $466K and the Median was $410K.  A difference of $56K.  Median was 88% of Average and this is based on 111 sales for the month.
• The Average price for May 2008 in Naperville was $447K and the Median was $393K.  A difference of $54K.  Median was 88% of Average and this is based on 107 sales for the month.
• The Average price for June 2008 in Naperville was $489K and the Median was $435K.  A difference of $54K.  Median was 89% of Average and this is based on 141 sales for the month.
• The Average price for July 2008 in Naperville was $476K and the Median was $426K.  A difference of $50K.  Median was 90% of Average and this is based on 166 sales for the month.
• The Average price for August 2008 in Naperville was $513K and the Median was $448K.  A difference of $65K.  Median was 87% of Average and this is based on 136 sales for the month.
• The Average price for Septemeber 2008 in Naperville was $549K and the Median was $416K.  A difference of $133K.  Median was 76% of Average and this is based on 96 sales for the month.
• The Average price for October 2008 in Naperville was $458K and the Median was $389K.  A difference of $69K.  Median was 85% of Average and this is based on 78 sales for the month.
• The Average price for November 2008 in Naperville was $449K and the Median was $424K.  A difference of 25K.  Median was 94% of Average and this is based on 55 sales for the month.
• The Average price for December 2008 in Naperville was $472K and the Median was $417K.  A difference of $55K.  Median was 89% of Average and this is based on 72 sales for the month.

We felt in our office that December was better than November and most of the numbers out there support this.  September was when someone said “the fundamentals of our economy are strong” and I know he didn’t exactly mean what he said but that is my marker for when things started to turn.  And the numbers support it.

Let me know if you have any questions or if you would like me to put anytihng together for you.  Enjoy!

CLICK HERE TO SEE THE OFFICIAL UPDATE ON THE NEW & IMPROVED FIRST TIME HOME BUYER CREDIT.

A couple of days ago I posted an article regarding the $7,500 tax credit available to first time home buyers that was passed last July.  Well, over the past few weeks there has been a lot of talk about the Stimulus Bill and what will be included to help the housing market above and beyond that credit.  At first we all got excited because it looked like we were going to be dealing with a $15,000 credit to all buyers (not just first timers) and that it was going to be for principle residents purchased within a year of signing said bill.

Doesn’t look like that is what we are going to be getting.  When the House and Senate got to negotiating the credit was stripped down to what looks like an $8,000 credit.  It will also be just for first time buyers and not all buyers.

So, in summary and after all the chit chat it looks like the existing $7,500 first time home buyer credit will be bumped to $8,000.  It also looks like this will be a true credit and won’t have to be paid back. 

Nothing is official and nothing has been signed so please check back early next week and I’ll let you now where we stand.

I’m planning on having it all laid out for you once we know exactly what “it” is.  A lot of the specifics are yet to be laid out like income limitations and what qualifies as a “first time home buyer?”

Here is a glimpse of the average days on market for a single family detached home in Naperville, IL for 2008:

So we’re looking at an for single family homes in Naperville at just under 3 months.  If you look at the year as a whole it was pretty consistent.  A lot of areas you will see a big swing from winter to summer.

As with Naperville’s Months Supply of Inventory we are seeing better numbers then expected.  But don’t get too excited because they are still not good.  Months supply is high.  Inventory is high.  Actually this is lower then expected so probably the one thing we can celebrate.  I was thinking we’d be closer to 100+ days.  Oh, take a close look at # of Active, New and Sold listings in Naperville as well.

Let me know if you have questions.  I can put something together if you’d like for your community.  Above you can search the for properties in Naperville and all around Chicago with our state of the art MLS search.  Enjoy!