Current Market Conditions

2006-01-25T08:15:00.000-08:00

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Market update 4-2-07 Although we are in the rainy season you have most likely noticed the weather warming up. The thoughts of spring spur extra energy for projects and also the thoughts of making that move. It is a time of year when many new homes become fresh to the market and a hole new band of potential buyers start looking. There have been 161 new single family home which have entered the market since the first of the year and 87 already sold. This is typical for this early in the season and the sales will quickly catch up. The market has been fairly stable since the February freeze ended. I believe we can expect the trend to continue along with the interest rates staying in the same range. They droped a little recently back to the 6% mark. If you are looking for an agent who keeps up on what is going on in the market you are looking for; give me a call at 815-291-8369

Market update 2-8-07 The market started picking up shortly after the first of the year and has recently slowed again. This is not unusual for this time of the year since the weather is so unpredictable. Here in the Freeport area we are experiencing unusualy cold temperatures, in the negative numbers, with very cold wind chills. This can have a profound effect on the number of potential buyers willing to go out in the cold to view property. I am comfident that as the weather breaks that the market activity will soar again. The Freeport market, as any other, will have its highs and lows. My prediction for 2007 will be a slightly slower market than in recent years but still strong. There are some exciting things happening in the area with some new businesses coming in along with the expansion of the current Wal Mart and Menards stores to the south end of town. Everything that goes on around us in our community will have an effect on the market to some degree. I believe there are some great opportunities on the horizon that will only continue to keep Freeport a great place to live and raise a family.

Market update 12-06-06 The Freeport market is very similar to markets all across the country in that there are up and down times. There are many factors that can cause these changes. Interest rates are a large factor along with employment opportunities in the area. The Federal reserve has kept rates at at reasonable pace in the 6-6.5% range. As of today the freeport market has still been higher during the low months than the highs of some years past.

If you are a home owner today in the freeport market you can most likely feel comfortable that your home value has continued to stay strong. I always recommend contacting your full time real estate agent for a market analysis if you wish for more detail on your home. If you are in the market looking for a new home you have chosen a good time as the interest rates are still good and there are many homebuyer programs. There will always be some homes that sell faster than others. Don't get caught up in the idea that if a home has been on the market for a longer period of time than another that there is something wrong with it. Have your agent help you to see if the home is priced right and or a good idea as to what it may sell for.

The key is to use the expertise of your agent and their knowledge of the market. If you have not chosen and agent please contact me and I will be happy to assist you in your real estate needs. I look forward to working for you.

Market Update 9-26-06 All over the news today you are hearing or reading about the great "housing bubble" bursting. We will often field questings on this matter from concerned homeowners. For most people their home is the most expensive purchase they will ever make thus making this topic hit "home".

I recommend when looking into this subject that you look at your local market to see how it is being affected. Or even if it is being affected. Keep in mind when you hear of national trends that your market may not always measure up the same way. The "housing bubble" is most felt in areas where property values have skyrocketed in the last 60 months. At some point this massive increase has to peek. In some of the areas home values tripled or even quadrupled in this amount of time.

Think of it this way. If you are going to go on a diet. Which is better? 1. to loose 50 lbs in 60 days? or To loose 2 lbs a week for 25 weeks? Most doctors would tell you it is better to loose the pounds over a more gradual time period. It is generally more healthy for the body in addition the slower style is more of a life change that just the weight. Thus helping keep the weight off as you wish.

The Freeport home market has adjusted gradually. We have been on a slower but steady rise in home values thus resulting in a much more stable market. I feel confident Freeport will weather the storm of the "housing bubble" just fine.

Market update 7-9-06Often I will hear from others in our community that it seems there are many homes on the market. To some extent they are right. As of the end of June there were 31 more single family homes on the market than there were at the end of the same month last year. Is that good or bad? To answer that we need to look then at the buyer activity. Where are the buyers coming from? Are they getting mortgages and from local lenders? Are they serious buyers or just trying to steal something? We will take a look at these and other statistics next week. Hope to see you there

The hottest selling price range on the market today is between $85,000 and $100,000. The average number of days on the market for homes in this price range is almost half of that for most all other price ranges. Do you have a home in his range? Are you looking for a home in this range? Let us know !!

*** Next week we will be taking a look at the market statistics for the first quarter of 2006. *** ( We will compare todays market to last year and discuss what that means to you. We will also look at the hotest price range to the local market today. How will you fit? Look next week to see.

Here it is ----------------------------------------------------------------------
During the first 4 months of 2005 the Freeport real estate market had a combined sales of $17,667,000. During the same time this year in 2006 the market produced a wopping total in sales of $25,876,000. That is a 32% increase year over year. The least expensive home sold was $7,300 with the highest coming in at $320,000. Virtually every price range in between is represented. With the interest rates edging up slightly coupled with a rise in buyer confidence buyers are out in full force. Freeport has alot to offer and is conveniently located outside larger cities. This allows you to enjoy the smaller town atmosphere with the larger city ammenities. If you have been thinking about making a move, now may be a good time to take the thought to the next level and contact Kathy or Brian. We look forward to working hard for you.

Hello and welcome to the Freeport real estate market.
!!!!! Coldwell Banker Preferred sells more real estate in the Freeport market than any other agency.!!!!! Are you looking for a hard working agent? Call us!

WOW - Talk about busy and exciting!!

If you are thinking about putting your home on the market this may be a great time. Durring January 2005 home sales in the 61032-zip reached $2,872,161. The exact same month in 2006 reached $4,913,600. That's a 71% increase in the market!
The average sale price thus far in 2006 is up almost 12% over the same time last year. - Thinking of making a move? CALL US

The average sales price for single family homes in Freeport in :
2003 was $86,270
2004 was $87,320 and
2005 was $89,020

There are two ways to look at this information - You could say "my home has not gone up in value much" or you could say the market has gone up 3% in the last 36 months. We prefer to focus on the positive.
There will always be some price ranges that have a shorter average days on the market than others. The fastest selling time frame for 2005 were homes in Freeport between $85,000 and $100,000. There were other ranges and styles that came in a close second.
With the interest rates still very competitive combined with great local loan officers the buyers are still there is good numbers in all ranges. Keep in mind that buyers are shoping more and more on the net. You must have an agent that can give you a good presence over the web. We can help you there.
All in all the Freeport market is still strong and there are loan programs to fit most buyers. We look forward to working with you and will be happy to share any additional statistical research with you at any time. Feel free to e-mail us through this site and have a great day.

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2005-11-30T09:21:00.000-08:00

At any time you can call and get these and other valuable tips:

The 5 Biggest mistakes many homebuyers make and how to avoid each one.
The 7 fatal mistakes many home sellers make that can cost them thousands of dollars.
Tips on choosing the right Realtor
Tips on choosing the right builder
and many more (815)291-8369 or (815)238-2879

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Current Market Conditions

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