Happy Monday to all! Is there such a thing as a happy Monday? I have found Mondays to be self-fulfilling prophecies… if I start the day out believing that it’s going to stink, then generally it meets my expectation. Coincidence? I think not! I rolled out of bed today believing that it is going to be a good day, and I am not going to accept anything less. So, if you have an issue today, don’t tell me about it until tomorrow. Please!
I have prepared my latest Monday Morning Market for all of you loyal readers out there. It’s been an interesting year so far for single family homes… a couple of general real estate tidbits for you before I hit the weekly stats:
- For this time period in 2010 (January 1 through March 7) we had 30 closings under our belt out here in Geneva. So far in 2011, we have had 19!! With 7 of those being distressed sales. For those of you who aren’t good at ciphering (to quote Jethro Bodean!) that amounts to 37%…. yep. 37% of our closings so far in 2011 have been foreclosures or short sales. Very sad.
- 89% of our closings have been under $400,000!! 17 out of 19 homes have closed for under $400,000 so far in 2011. Very compelling statistic for all the property owners of Geneva.
As far as Monday Morning Market is concerned, here are the statistics for Geneva for the last 7 days!
- There are 190 active listings in Geneva right now, ranging in price from $59,900 to $1,395,000
- In the last 7 days we had one closing. It was a foreclosure listing for $195,000.
- There were 7 price reductions, with the greatest reduction going from $465,000 to $425,000
- 9 properties went under contract in the last 7 days! Hallelujah! Interestingly enough, they break our pattern for the year so far in that 4 of the properties were over $400,000!! Yes!! In one week we doubled the amount of property under contract for $400,000 + for the YEAR!
It’s been a crazy year already. I have had SELLERS back out of a transaction because they ultimately loved a home too much to leave, we had a transaction compromised because a pickup truck wouldn’t fit into the garage of a newly purchased home, I have had a buyer fall down a set of stairs and come out black/blue/purple, I saw a shower (reminiscent of a 1984 RV ) crammed into the corner of a bedroom in a dated Colonial over in St. Charles, and I happened to have the luxury of showing a piece of income property that had more dog poop INSIDE the property than there was OUTSIDE the property. I have a glamorous position!
As always, if you would like the inside scoop or some micro-knowledge on our market, just contact me. I am happy to share my knowledge with almost anyone. ALMOST! Have a great week, and feel free to share my blog with anyone you know who might enjoy it!
THINK SOLD!Teresa Keenan, Broker/Owner of Stone Tower Properties 325 South Street Geneva, IL 60134 630-917-2717