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Wheaton, IL Real Estate News

By Carol Spengel, Wheaton IL
(Prudential Rubloff )
There are some quick, easy and inexpensive ways to make your home more attractive to potential buyers. Most of these ideas take more time than money. Clean goes a long, long way, even in an outdated home. Buyers like to know that a home has been loved and well maintained. I once had a seller who keep her files in the dishwasher. According to her, the dishwasher just didn’t get the dishes clean enough. I’m not saying you need to go that far, but scrub every corner of your home, it will pay off. Furniture placement – rearranging furniture can give your rooms the energy and space they need. Remove any extra furniture, tables, knick-knacks and books. Make sure there is enough space to walk around the whole room. Paint – this has to be one of the most inexpensive ways to freshen up a room. F...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
Our government is making an effort to entice first time homebuyers to purchase houses. On July 20, 2008, then President Bush signed into law, as part of the Housing and Economic Recovery Act of 2008, a $7,500 tax credit for first time homebuyers. This tax credit is available from April 9, 2008 to July 1, 2009. Here are some details you need to know: The tax credit if for 10% of the cost of the home, not to exceed $7,500. The tax credit must be paid back over a 15 year period. It is however, an interest-free loan. The property purchased must be used as a primary residence. A single borrower must have an adjusted gross income of $75,000 or less. That goes up to $150,000 if you file a joint return. You must be a first time homebuyer. If you choose to sell your home before the 15 years are ...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
Both the Wall Street Journal and Bloomberg.com are reporting today that homes sales in December had their biggest monthly increase in nearly seven years. Homes sales were up 6.5% nationally in December 2008. Most likely this is due to buyers taking advantage of home price cuts and homes in foreclosure.  
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
Some great news for Wheaton real estate. 2008 condo and townhome average prices have gone up 11% since 2007! That is wonderful news considering the current real estate market and financial credit situation. The market times have gone up considerably and the number of homes sold have been more than cut in half from the height of the market in 2005. However, these numbers are more consistent with single family homes in Wheaton.  
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
There are some basic rules to selling your home: The first, and most important, is price it right the first time. This is followed closely by allow people inside to see the property. I know, the second seems a little obvious, but it is just as important as rule number one. I just received this email from a selling agent. “Did your client’s ever end up buying? My listing is still available, they are having a showing tomorrow at 11:00, I try to condense or combine showings because the seller has two babies, let me know if there is still any interest.” Well, I tried to preview that property for my client back in early December. They were not allowing previews to agents because it disrupts the family. My clients did not have a lot of time to see properties, so I was previewing everything be...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
I thought it would be more beneficial to look at 2008 Wheaton Real Estate numbers in context with those same numbers from past years. I have gone back to 2005. This should give us a good idea of where we have been. This first graph is of average sale price. The average sale price of Wheaton homes went up in 2006, had a plateau in 2007 and then dropped to just below 2005 sales prices. Now these are just averages. There are neighborhoods around town where the numbers are even lower, more in line with 2003 prices. It just depends on where you live. The next two graphs are pretty self explanatory. The days on the market have gone up considerably from 2005 and the next graph shows the number of homes actually sold have gone down each year.  
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
I went on a listing presentation this week and I didn’t get the job. I am a competitive person and I don’t really like to loose out to another agent. However, character and integrity are all I really have. I will not lie to people. I will not tell them what they want to hear just so they like me and I get their business. It is a tough market out there and we all need to be realistic on pricing. Going in, I knew that they paid more for the home than it is currently worth. I presented 3 comparable properties; all were of similar size, age, construction and location. They all closed within the last 6 months. The comparable homes sold for $480,000, $495,000 and $545,000. The one that sold for $480,000 was the closest in terms of condition and updates. The home that sold for $495,000 had an ...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Whaton, IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. If you are contemplating a change in lifestyle, ie. a more luxurious home or the luxury of the amenities in a senior citizen development, I may be able to save you some money via discounts available to me.   Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 23 220 $150,000 - $199,999 52 201 $200,000 - $249,999 27 196 $250,000 - $299,999 45 176 $300,000 - $349...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Wheaton, IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. If you are contemplating a change in lifestyle, ie. a more luxurious home or the luxury of the amenities in a senior citizen development, I may be able to save you some money via discounts available to me. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 24 172 $150,000 - $199,999 53 158 $200,000 - $249,999 26 183 $250,000 - $299,999 50 165 $300,000 - $349,...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
Gotta love a map that shows how close a neighborhood really is to town.  Glencoe Crossing is a neighborhood in the middle of two towns.  It has a Wheaton, Illinois address, taxes, library and water.  It is also only 1.4 miles to the Glen Ellyn Train station.  The children attend Glen Ellyn District 41 and 87 schools and are members of the Glen Ellyn Park District.  It is the best of both worlds.  Click on the map for a large image.
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By Vicki Watzlawick, Illinois Foreclosure Expert, The Watz Team
(CORE Realty (The Watz Team) )
Scarecrow Building Night Friday, September 26 • 5:30-7:30 pm Calling all families, groups, organizations and businesses! Create a scarecrow and decorate Cosley Zoo. We'll provide the scarecrow frame, straw for stuffing, permanent markers and twine. You provide the "attire," head and creativity. Join us anytime between 5:30 and 7:30 p.m. Please RSVP by Sept. 12. • $25 per scarecrow   Spooktacular Friday, October 17 • 6-8 pm Take a stroll through the spooky straw maze, collect candy from our creepy critters, carve a pumpkin, play games and make crafts! If you dare, you can even enjoy some ghostly goodies. No RSVP needed. • Free to members • Guests of members – $10/each • Age 1 and under are free
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Wheaton, IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. If you are contemplating a change in lifestyle, ie. a more luxurious home or the luxury of the amenities in a senior citizen development, I may be able to save you some money via discounts available to me.                     Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 18 159 $150,000 - $199,999 58 117 $200,000 - $249,999 35 179 $250,000 - $299,999 62 ...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
in order to sell your home? I emphasize to my sellers that ALL showings are important, especially in this market where there is so much to look at. Sellers need to understand last minute showings are the norm and agents might be a little late for their 1 hour showing time slot. People are people; when a buyer wants to see a property, we, as agents, tend to jump. We hope the sellers would also. We also don’t want to rush a client who is looking intently at one house, so we can get to the next one on time. We like to give each house a thoughtful look. Some buyers are faster at this than others. However, I do draw the line at some requests. I had an agent call me at 7:30pm on a Saturday night asking to preview a property at 8:30pm that same night for a client coming to town late next week....
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By Greg Zaccagni, Illinois Mortgage Lender
(The Federal Savings Bank)
Borrowers who already own a home typically have three options when they decide to purchase a new primary residence. They can:. sell the current residence and pay off the outstanding mortgage,. convert it to a second home, assuming they qualify with both mortgage payments, . convert it to a rental/investment property using the income to offset the mortgage payment. Fannie Mae is updating the policies for qualifying borrowers purchasing a new principal residence and converting their existing principal residence to a second home or investment property. New Requirements Current principal residence is pending sale but thetransaction will not be closed (with title transfer to a newowner) prior to the new transaction Both current and proposed mortgage payments must beused to qualify the borrow...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
Here is another example of how you can live in a place for years and not know everything about it. I am even more ashamed because this relates directly to my business. I was driving down Main Street, Wheaton today and a small sign caught my eye – DuPage Homeownership Center. So, I turned my car around and went inside to see what I was missing. A nice man welcomed me inside and give me all sorts of information about their first time homebuyer’s program and educational classes. The mission of this nonprofit, charitable organization is “to increase accessibility to and preserve homeownership, with an emphasis on serving first-time homebuyers and low- and moderate- income persons.” They offer two first time homeowner classes each month. The next one is on July 26, 2008 from 9am – 1pm at St...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Wheaton, IL.  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. If you are contemplating a change in lifestyle, ie. a more luxurious home or the luxury of the amenities in a senior citizen development, I may be able to save you some money via discounts available to me.                       Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 11 156 $150,000 - $199,999 50 128 $200,000 - $249,999 39 132 $250,000 - $299,999 67 ...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
I’m around people in social situations all the time – I have been to my fair share of baseball games, football equipment pickup, coffee houses and graduation parties lately. Inevitably, the subject of work crops up and the first thing people ask after I tell them I’m in real estate is, “How’s the market doing?” Here are my general answers this month. I have seen a great increase in buyers looking at my 10 listings. Some homes have had as many as 5 showings in one day! When I call for agent feedback the answer is either the home I represent is in their top three favorites or they have picked another home to bid on. Either way, I like that answer much better than the one I heard 2 months ago (we’re still looking). This means people are making decisions and buying something. I wish it was ...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Wheaton, IL.  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. If you are contemplating a change in lifestyle, ie. a more luxurious home or the luxury of the amenities in a senior citizen development, I may be able to save you some money via discounts available to me.     Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 16 129 $150,000 - $199,999 48 150 $200,000 - $249,999 33 145 $250,000 - $299,999 58 162 $300,000 - $34...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
  People keep asking me how the market is doing.  Has it picking up yet?  Is it as bad as the media says it is?  This is generally my answer: there is a lot of inventory in Wheaton right now.  There are currently 419 homes on the market waiting for a contract.  Another 78 have contracts, but have not yet closed.  Since January 1, 2008 only 123 homes have sold. The condo market has 27 homes under contract and 136 still seeking buyers.  So far this year, only 49 condos have closed. I also decided to look at certain neighborhoods to see what is actively on the market and what has sold this year. It is much harder to get a read on the neighborhoods in-town Wheaton.  I tried to go by school area, but the homes vary so much, it was hard to make any sense of the data.  I think that information...
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By Carol Spengel, Wheaton IL
(Prudential Rubloff )
  As we remember our fallen soldiers today, I would like to take some time out from the parades, the parties and the yard work to share with you a quote from one of my friends stationed in Iraq. We have been emailing back and forth for a few months now. He has often spoken of the brave young Marines he leads. They face challenges and situations we can never even dream of. Reading his emails humbles me and has made me even more proud of our men and women serving around the world. "When you must fight, do so ferociously, and your goal should not be to win the war, but to win the peace." Please take a moment to think about the families of the 4080 men and women who have died in our latest war and for the countless others who have given their lives serving the American people.
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