Blog

Nov. 1, 2018

Market Trends September 2018

 

In good times I think people forget that real estate prices are cyclical by nature, imagine if your home price was a stock--then your property price would go up and down hourly.  That would cause a lot of fear, or joy, depending on the economy and your particular home value at the end of that day.  Good new is that your home price is not changing hourly, but in a slower market it can change monthly.  In this market it is very important to keep up with the current data and market trends.

Your neighborhood and local area comps are very crucial to one's home value, but that only tells one side of the story.  Real estate is evolving, the way people buy and sell homes is also.  Here in IL with political uncertainly, Realtors need to go beyond just the "comps" and price per square foot. For us at the Purcell Group it is important that each home's value is determined on a case by case basis.  Location is always important--we break down each home's individual upgrades, paint colors, type of flooring, kitchen and master bath remodeling, Jack-n-Jill baths, finished basement space, size of the popular rooms, such as Kitchen, Family Room, and Master Bedroom, yard size, proximity to town, schools, and proximity to amenities. In today's real estate market all homes are not created equal. The current buyers values particular upgrades, features and accessibility over just size.    

As with other investments, it is important to focus on what your house is worth TODAY--not the price you paid for it, or what it was worth 5 years ago, PRICES are always fluctuating.  We are trying to guide our sellers away from their past value and help them sell now for the best prices possible.  Value in today's real estate market is truly a case by case basis and takes a true expert to help determine that for you!

 

September 2018 Trends:

  • Decline in the number of town homes sold in 2018...We feel this was actually due to less available inventory, especially under $300,000.  Prices had also increased in this segment in recent years, and a slight pull back was to be expected.  Demand will be strong in 2019 for town homes. 
  • Number of homes sold are slightly down in Geneva and Batavia in comparison to 2017...the number of homes sold in St. Charles is almost exactly the same as 2017.
  • Demand for ranches and/or 1st floor master bedrooms remains very strong.
  • Demand for updated homes under
  • $400,000 continues to be strong. 
  • Pricing of properties needs to be evaluated on a case by case basis, as interest rates rise, and seasonal slowness effects the local housing market. 

 

 

Posted in Market Trends
Oct. 25, 2018

Geneva IL Real Estate-301 Willow Lane-The Purcell Group

$449,000!!!

For more details click https://www.suburbanilhomes.com/blog/homes-sale-geneva-il-301-willow-lane/

Posted in Listings
Oct. 24, 2018

301 Willow Lane-Geneva IL

 

You will love this gorgeous, redone, Geneva brick ranch, open and airy floor plan, and was featured on the Geneva Christmas Walk. 

 

You will love the redone kitchen (2016) that will be a chef's dream--enjoy views from bay window of professionally landscaped fenced yard! Redone cabinetry, granite counters, copper island making cooking a pleasure! Generous family room has stone fireplace with gas starter, newer hardwood flooring, wet bar with wine refrigerator, & beamed ceiling!

 

Large master bedroom with newly redone gorgeous master bath--stunning all white glass shower with pebble tile!!!  Beautiful private lot in Geneva with a large patio and fenced yard. 

$449,000

 

Posted in Listings
Oct. 24, 2018

3752 King William Court

  

Fall in love with this fabulous, updated home nestled on 1/2 acre cul-de-sac wooded lot on the East side of St. Charles IL! Dining room adjacent to butler pantry that flows into exquisite chef's kitchen.

 

Quartz counter tops, honed Calcutta marble back splash, Sub-Zero refrigerator, Wolf range, Miele dishwasher, & refinished hardwood floors (1st flr re-stained dark finish). Interior freshly painted. Enjoy the two-story family room with wall of windows that affords wooded panoramic views & is open to the kitchen for great entertaining!

 

Stunning English basement with rec room that has coffered ceiling, climate-controlled wine cellar, plantation shutters, & stone-front bar with granite counters--perfect for parties! Home gym with professional rubber flooring & mirror. Incredible full bath with designer tile shower & vanity. Wonderful brick paver patio, 2 decks, & tranquil wooded views!  

$579,000

 

 

                                          

 

Posted in Listings
Oct. 24, 2018

St Charles IL Real Estate-3752 King William Court-The Purcell Group

For more details https://www.suburbanilhomes.com/blog/3752-king-william-court/

Posted in Listings
Oct. 19, 2018

Homes For Sale St Charles IL-36W705 Stoneleat Road

 

Gorgeous ranch home in St. Charles on private lane with gated entry, panoramic wooded views, INDOOR POOL, & SPA on 2 acres.  This home has dramatic architectural design & was an award-winning home built by John Hall Sr. 

 

Home boasts HW floors, chef's kitchen w/high-end custom cabinetry, "Blue Bahia" &"Blue Eyes" granite, & stainless steel appliances.  Huge master bathroom with heated floors and breath-taking views!

 

Awesome indoor pool and hot tub with windows everywhere affording magnificent panoramic vistas, unique details, combined with 100 year old trees, makes this a "must see!" Hard to find privacy this close to downtown St. Charles & great road access. Enjoy vacationing year round in this wonderful home!!!

$799,000

 

 

Posted in Listings
Oct. 18, 2018

New Baird & Warner Office-1542 S Randall Rd Geneva Il 60134

Baird & Warner has always been on the cutting edge of technology and innovation. This new office brings the future of real estate all into one place!!! Come check out the Purcell Group at 1542 S Randall Rd, Geneva IL, 60134.

Posted in City Info
Oct. 11, 2018

460 Lancaster-Pingree Grove, IL

Awesome end unit town home w/two story living room offering a wall of windows for sun-lit days and moon-lit nights. Huge eat-in kitchen has center island, appliances, and eating area with sliding glass doors to patio. Second floor laundry for your convenience. Nice-sized loft area on second floor can be an office area or play room. Master bedroom has triple windows, ceiling fan, walk-in closet, and luxury master bath! Bath has vanity with double sinks, separate shower, and soaking tub. The second bedroom has a double window and closet. The hall bath has a vanity and tub/shower. Neutral, open, and airy! You will love the amenities that Cambridge Lakes has to offer--clubhouse, exercise facilities, pool, and exterior maintenance, lawn care, snow removal, and scavenger service! Relax and move into a wonderful community that offers a care-free way of life! You deserve it!  $174,900

 

Posted in Listings
Sept. 24, 2018

Market Trends August 2018

 

August Market Watch:
The overall housing market in Kane County did slow down in August 2018, which has in turn put the housing market behind sales activity for the same period last year in some towns. 
#Number of homes sold in St. Charles up to Aug 31st  2018 = 610
#Number of homes sold in St. Charles up to Aug 31st  2017 = 601
#Number of homes sold in Geneva up to Aug 31st  2018 = 333
#Number of homes sold in Geneva up to Aug 31st  2017 = 366
#Number of homes sold in Batavia up to Aug 31st 2018 = 242
#Number of homes sold in Batavia up to Aug 31st 2017 = 265
What We Thought:
 Below is what we wrote in our June 2018 blog regarding local market trends. 
 
The market has had a nice run up in the last 2-3 years, relativity low rates, and a spark in demand created a stable market.  It's only normal to see some softness in demand and pricing as rates rise, plus the IL economy still continues to create other problems for everyone locally.   So we are cautious for the rest of 2018 and will look at the year-end numbers and reevaluate our opinion of what 2019 may be like.  Inventory levels are low in some segments and demand for the "Hot Trends" mentioned above are still strong. 
So Now What :
1.  Evaluate your time horizon for selling.  We think mid January to late June 2019 will be the "sweet spot" for selling, prior to a possible nation-wide housing slow down. Nobody is certain on how long that may last, but it always better to get in front of that as a seller. 
2. If you are planning on buying a home now, look for the best deal and jump on it before rates continue to rise.  If you have time to wait, I would recommend the end of 2019 for some possible bargains. Rates may be higher, but so will prices--it is town and market segment specific too. 
3. What will the state elections bring? Nobody knows for certain, but could be a major factor. 
4.  In a slower market, always choose the best location when buying.  That will never change, but makes even more sense if prices are down.  LOCATION...LOCATION...LOCATION...
5.  CALL US anytime, so we can guide you through any selling or buying decision.  We have our pulse on this market!!!

 

 

 

Posted in Market Trends
Sept. 12, 2018

The Purcell Group Five Star Professional 2018

 

This award is so meaningful to Eric Purcell and I, as it is voted on by our Clients. Thank you so much for the recognition and appreciation,The Purcell Group couldn't do it without our fabulous friends, photographers, attorneys, lenders, Baird & Warner's staff, inspectors, and the best clients possible!!!

Posted in Market Trends