Schaumburg, IL Real Estate News

By Lyn Sims, Schaumburg Real Estate Agent Retired
Schaumburg maintains more than 1,100 acres across 100 parks, including nearly 300 acres of preserved natural areas throughout it's park district.The Spring Valley Nature Sanctuary, is a prairie wild life preserve and an indoor and outdoor museum. This is the place to rent snow shoes & take them for a spin if you've never tried them. Bison Bluff is a nature playground also located on the grounds. Also nearby is the Heritage Farm which is a fully operational farm right out of the 1880's. Kids are gonna love it! Horses, pigs, chickens are here for interaction.  (video from WGN-9).  The Park District also operates four community recreation centers, including the Water Works Oasis, a spectacular indoor pool facility.  The Sport Center which has indoor baseball, soccer fields and basketball c...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Here are the things you will need to know if you are planning on selling. So how is the market doing currently in Schaumburg? Here are a few graphs to help give you an idea.What is the percentage of homes that are going under contract each month in Schaumburg? This tells you if the market is flat, going up, or declining based on homes going under contract. It shows you the 'action' that buyers are taking in the market. How many other homes are for sale in Schaumburg? This is called the months of inventory level. The lower the level of homes on the market the better the market is for a seller. Currently, we have been in a seller's market for quite some time. Inventory fluctuates per month and is usually the highest in the spring months. For Schaumburg, the highest selling month was June ...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
The Schaumburg housing market is hot! Most homes are selling quickly & even some over list price. If you are interested in how the market is fairing in your subdivision, it would be best to call in an area expert, like me, rather than watch what the news people are saying.It only matters what is happening right in your backyard! The nightly news always tries to encompass the entire U.S. and it just can't be done with any kind of accuracy. This infographic gives what different 'predictors' are saying for the year. Things are looking good for real estate even during this pandemic. The Chicago area overall is fairing very well. Chicago was second in the nation in the largest year-over-year increase in closed transactions at 32.3%. The city was second only to Little Rock, Arkansas, where th...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Schaumburg Housing Forecast for 2021The Schaumburg housing market is on fire! 🔥 Most homes are selling quickly & even some over list price. If you are truly interested in how the market is fairing in your subdivision, it would be best to call in an expert in your area rather than watch what the news people are saying.It only matters what is happening right in your backyard! The nightly news always tries to encompass the entire U.S. and it just can't be done with any kind of accuracy. This infographic gives what different 'predictors' are saying for the year. Things are looking good for real estate even during this pandemic.   
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Came across an interesting survey about home satisfaction during the pandemic. It seems that 44% of homeowners are dissatisfied with their house situation & 34% are more satisfied with it. The most features that homeowners desire in their next home would be:1)  Home gym2)  Home office3)  Gaming space4)  Kitchen space Actually I'm a little surprised about the Kitchen space coming in 4th position. Usually it's right up there with Family Room & the Kitchen being 1 & 2. The survey also offered up where people like to 'hide' during the pandemic.  It's an interesting read from Sears Home Services.
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Land shark knocking at your door! I still remember vividly the skit on Saturday Night Live. But in the real estate world, there are plenty of sharks out there to be wary of. Let's just talk about a new group of 'real estate disruptors'.I-BUYERSThey can't wait to turn the real estate market upside down but really, they just want entry into your wallet. I-Buyers are companies that come out & buy your home in any condition but offer a quick close. Most of the time no repairs need to be done by the seller. Seems almost perfect doesn't it?But underneath what is going on? That company is taking advantage of your need for the quick fix. I don't want the hassle is going to come with a price. I can't stand the emotional connection with selling Mom & Dad's house is going to come with a price.It's...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Here's the things you will need to know if you are planning on selling. Here's a few graphs to help give you an idea on how the market is currently doing in Schaumburg. What is the percentage of homes that are going under contract each month in Schaumburg? This tells you if the market is flat, going up or declining based on homes going under contract. It shows you the 'action' that buyers are taking in the market.  How many other homes are for sale in Schaumburg? This is called the months of inventory level. The lower the level of homes on the market the better the market is for a seller. Currently we have been in a sellers market for quite some time. Inventory fluctuates per month and is usually the highest in the spring months.      How many days does it take for an average home in Sc...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Most people that I talk with are concerned about how COVID-19 is effecting real estate. Will values stay the same? Will they decline?Honestly at this time, I cannot look into my crystal ball & get a clear answer. I can tell you what I have noticed so far with as many numbers or trends as I can gather for you. Before your eyes glaze over when I mention numbers, I'll be sure to explain how they will affect you.Just a disclaimer that real estate is a funny creature. One subdivision or town might be effected harshly & others will be fine. This is the way of the world so this report is a generality.New construction housing starts are still moving along until the interior work needs to be done & social distancing has to take effect. It will delay closings which will cause even more pent up de...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
There are many things that are happening in the Schaumburg Area Real Estate Market & some are very good. Showings have been impacted (graph is Illinois) but I wanted to show that not all real estate has stopped dead in its tracks. We have had many transactions already in the works & they have closed successfully. So this graph shows that showings so far over these last few weeks have been down by 22% across IL. Following the end of the month, we will get another number but don't forget that this has never happened before in any market.Another surprising figure that I hope will continue into the Spring Market is that homes are still selling over list price. According to CoreLogic, 29% of homes sold so far this year are selling over their listing prices. Obviously, this was before COVID-1...
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By Lyn Sims, Schaumburg Real Estate Agent Retired
Interest rates have come down today to a rock bottom low! They are trying to obviously stimulate the industry & get you off your couch to buy a home! If this isn't going to be it - I don't know what else could be.  But wait .... unlike a bad late-night infomercial, this news will definitely get your curiosity piqued. With your tax refund soon to be here, did you ever think to use it as a down-payment? Yeah, use your tax refund to put a down-payment on a house!  If you need help with the planning either talking with a loan officer or about the process in general, I'd be happy to help. You just have to get started. Read more here ...... Courtesy of Keeping Current Matters
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By Lyn Sims, Schaumburg Real Estate Agent Retired
 This is not the first time I've written about this but the time is coming near when you will either do your taxes or look forward to receiving a tax refund. What will you do with it? Did you ever think that it could springboard you into a new home?I'm the first one to agree that saving for anything nowadays is tough but this is surely something you should think hard on as the average refund in Illinois is $3022. That's a nice chunk of change.Using 3% down in Illinois 52% of that down payment (3%) is tax-deductible making the savings even better!Let's get started on your homeownership now!  Graphs compiled by Keeping Current Matters
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