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Posts Tagged ‘homes for sale in Geneva’

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Downtown Geneva’s NUMBER 1 real estate office for 2011 AND 2012!! Stone Tower Properties was recently named as one of 2012’s highest producing offices in Kane County!

Happy 2013 to all! After a crazy year of putting a team together at the office, growing my business, putting out fires every single day in the real estate world, being a mom to three busy kids and a wife to my husband, I have re-committed myself to getting back to my blog. Expect to read more about the Geneva real-estate market, its’ trials & tribulations, an occasional rant, and, I suppose, a few observations perhaps. It is my hope that you will subscribe to this blog, share it with others and enjoy it.

We local Realtors have high hopes for a good year coming up. 2012 left us winded and out of breath, for good reason. The market seemed to be busier for all. There were 334 single family Geneva homes closed through the MLS in 2012. All said and told, it amounted to exactly $112,637,470 in home sales. When you pause for a moment to think of all of the folks that are associated with a real estate transaction (attorneys, home inspectors, radon testers, loan officers, Realtors, moving companies, utility companies, school districts, salesmen from Lowes & Home Depot, relocation companies) you will soon see that a busy real estate market can really stimulate a local economy.

After taking a few days to analyze the data from the sale of Geneva homes in 2012, here’s what I have to offer up in the way of analysis:

  • Out of 334 sales of single family homes, 77 were distressed sales               (distressed= court ordered, foreclosures, or short sales)  77 out of 334 equals 23%!! YIKES!! That number makes me sad and gives me a stomach-ache. Too many of our neighbors and fellow community members are losing their homes, still.
  • The lowest priced home that closed in Geneva sold for $54,100
  • The highest priced closing in Geneva was $850,000
  • 57 homes closed for less than $200,000! There were some pretty great bargains in that category.(If you are in the market for an income property or a small rental, now would be the time to get off the fence and get your checkbook out!)
  • As of 7 pm on January 7, there are 125 active properties on the market in Geneva. The lowest price on the market at this time is $100,000. The highest price on the market is $1,250,000.

As far as the year went, it was rough. There are still hiccups in the short-sale process. That system is getting better each month, but it’s still not good. The foreclosure process is still a horrific scare for any homeowner going through it. I have seen senior citizens go through it, investors go through it, and young families go through it. In a word, it is awful. There’s no more to say.

So, there it is, in a nutshell. If you are in need of more in-depth information on our market, please contact me. I am passionate about real estate in Geneva, and I can guarantee that there are very few out there who have seen as much inventory as I have. I’m happy to share my knowledge. Stay tuned in the upcoming days for Teresa’s “Biggest Loser” stories from 2012, the “Mysterious Ways of Realtor Tour Days”, and the “Top 10 BEST WAYS TO NOT SELL YOUR HOME.”

Last, but not least, I will be revealing the identity of Geneva’s Top Realtor for 2012…feel free to leave your guess below!

Until next time,

THINK SOLD!
Teresa Keenan

630-917-2717

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The Stone Tower Properties real estate office

Stone Tower Properties Real Estate in Geneva, IL

Happy Monday to all!

Yes, it’s been a crazy summer. Happy to report that all is well… kids are almost ready to go back to school, I am almost ready to drop them off, and I am definitely ready to get back to my blog.

Selling real estate is an obsessive little gig…. It seems as if EVERYWHERE I go, people always want to know “what’s up with the market?” “how much do you think the market has taken a hit… 10%, 20%..more?” “what’s up with the mortgage rates, do you think I could re-fi?” “are there any REALLY good deals out there?”…. They ask at church, they ask at school, they ask when we are downtown having a drink at Bien Trucha….. everyone is obsessed with real estate!It’s the American Dream AND the American Nightmare right now. Of course, I am in it up to my eyeballs and I am passionate about it, so it’s fascinating to me to realize how many others are interested in it as well. I know for most folks that it’s the largest investment that they have, so of course they want to check on it whenever they can. Unfortunately, they can’t just look at a ticker-tape on the CNN website to see how their “investment” is doing that day. So, they ask a LOCAL professional. Which brings me to my next point…. COME ON! If you are traveling to Disney next week, you are probably going to look up the weather for Florida. Maybe, if you are really type-A, you will zoom in as far as “Orlando” to get your information. Correct??? So, it goes without saying, that if you are in the need of a Realtor, why in the world would you use a Realtor from Arlington Heights to buy real estate out here? Or worse, to SELL real estate out here??? This is no lie… about 3 months ago I had a listing in Pepper Valley in Geneva. It’s a very nice community! It has a playground, tennis courts, 2 pools and a clubhouse, and it’s really close to several elementary schools. I had a TOP PRODUCER from St. Charles, part of a famous “team” of Realtors, call me to ask me all about the pool in Pepper Valley. He has been selling real estate in our area for YEARS and knew nothing about one of the great assets of living in Pepper Valley. Didn’t know where it was, and darned sure didn’t even know it existed until he showed my listing.  Do yourself, and your family finances, a favor- use someone LOCAL when you buy real estate.

Thought I would throw a few statistics out there today!

  • A Stone Tower Properties agent either LISTED or SOLD 43% of the Geneva properties that were $550,000 or MORE since January 1, 2010!
  • 82% of all sales in Geneva (there have been 197 single family homes sold as of today) were $400,000 and UNDER!
  • There are 234 homes on the market as of right this moment… from $154,900 to $1,899,000
  • The most expensive home that has closed, through the MLS, so far in 2010, was $825,000. It was on the market for 664 days, and started out at an original list price of $1,195,000
  • The least expensive home that has closed, through the MLS, so far in 2010, was $125,000. It was on the market for 478 days and war originally listed at $219,900. This property was a distressed sale (not a foreclosure, a short-sale)

Financing continues to be a thorn in our side. Appraisals routinely present problems. The closings routinely have complications that arise. The banks are CRAZY (Not a GOOD crazy!) However, in spite of all of that, buyers continue to buy! Sellers continue to sell! Rates are amazingly low, AMAZINGLY low! So, real estate continues to be an action-packed adventure, worthy of discussing almost everywhere you go! Go ahead, leave me a question below and let’s play “try to stump the Realtor!” Or, if you have a question in general, throw it out there in the comment section and I will answer as best I can…. looking forward to seeing what all of you are interested in!

THINK SOLD!

Teresa Keenan

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May 2008 014 See if you recognize this little charmer…. it's another cute little cottage on the WEST side of Geneva… (hint, hint!)…. For any of you who had children who attended the old Friendship Station Preschool, you should be able to think back on your drop-off days and remember where this one is…….remember to email me at teresa@stonetowerproperties.com with your answer!!

Congrats out to my highly regarded comrade, Ms. Jamie Daniel, of Geneva, for correctly identifying last week's Front Door as the charming little bungalow on South Second Street in Geneva…. I thought for sure all of you Geneva Public Library fans would recognize that little home!

Once again, thank you for your continued support of Stone Tower Properties…. have a great weekend in Geneva!

THINK SOLD!

Teresa Keenan

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