There’s no question the pace of home sales has slowed from 2007. The Capital Area Association of Realtors member brokers report closed home sales year to date are down 16.6% to 1079 from 1295 last year through May 9. This does not mean the market is crashing. This is the first measurable slowdown in over [...]

Welcome to real time real estate. Preliminary numbers are in for the local housing market for April of 2008. As predicted here, based upon March sold pending contracts, member brokers of the Capital Area Association of Realtors MLS report closed home sales were down from April 2007. With one business day remaining for brokers to [...]

Have you ever heard the saying; out like a lamb, in like a lion? The Springfield Illinois housing market, one of the most affordable and stable in the nation, reported to be the best in the Midwest in 2007, is rebounding following a dismal first quarter. However there is trouble on the horizon, and not [...]

Last week I shared with you the danger involved in basing your decisions upon the housing market reports released during the week, because it was dated information, about a month after the fact. Deciding the actions you should take if you are about to list a home based upon that report would be like trying [...]

Wow, what a week in the news; Eliot Spitzer, Geraldine Ferraro, Tony Rezko, Jeremiah Wright, and gas prices jumping to record highs. What impact do these people and events have upon the housing market? Plenty. Experts were surprised this week to learn that the predicted increase in retail sales in February never materialized as retail [...]

Wow, what a week in the news; Eliot Spitzer, Geraldine Ferraro, Tony Rezko, Jeremiah Wright, and gas prices jumping to record highs. What impact do these people and events have upon the housing market? Plenty. Experts were surprised this week to learn that the predicted increase in retail sales in February never materialized as retail [...]

Consumers can become easily confused and misinterpret housing reports. This may cause them to take action that could harm rather than help them when buying or selling a home. The timing of reports also can be a problem. If you notice most housing reports are released three to four weeks after the fact, which may [...]

This week governor Blagojevich presented his State of the State, Budget address. Again we heard a speech long on rhetoric and short on detail. I hope our legislators receive a copy of the budget more than 24 hours before a vote is required. All signs point to another stalemate, and drawn out session. I don’t [...]

The following five examples represent commonly held perceptions by many consumers, and advice for the proper action a consumer should take. 1. Relatives know infinitely more about real estate than any real estate professional, always listen to relatives first. Mom and Dad last bought a home in the 1980′s, there’s only been 32,416 rules changes [...]

This past weekend I traveled north to St. Charles Illinois. Took the train to downtown Chicago for my wife and daughter to shop, and to visit the museums. Sure doesn’t appear to be any lack of people shopping downtown Chicago. If there is a recession ongoing they sure didn’t get the memo! One note of [...]