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Jan. 14, 2022

2022 Local Real Estate Forecast

 

Thanks to all your continued support, referrals, and reviews we "smashed" all of our 2021 goals:

147 homes sold in 2 years with over 60 million in closed sales

Top 1% agents in all of Kane County

#1 Agents Baird & Warner Fox Valley

Top 1/% of all agents companywide

Here is an overview of the possible factors that will influence and dictate market conditions in 2022.

Prices are NOT expected to drop due to the limited supply of homes, the higher demand for housing, and the low mortgage rates---All combined, it will continue to be a SELLER's market. NAR (National Association of Realtors) forecast calls for median price gains by the end of 2022 between 5% and 7%---Also anticipates that annual median home prices will increase by 5.7% in 2022. According to Danielle Hale, Realtor.com chief economist, "Expect a whirlwind 2022 with home sales expected to increase another 6.6% and homes prices to rise another 2.9% on top of 2021 highs." All indicators point to rising home values in 2022, but definitely at a slower pace.

And while prices are not forecasted to decline, price growth through 2023 will be slower than average according to Fannie Mae. Year-over-year home inflation will drop to 4.4% in the second quarter of 2023 and end the year at 2.9%. The pandemic will raise the floor for U. S. housing prices. Lawrence Yun (chief economist for NAR) expects a 30-year fixed mortgage to be 3.5% as the Fed raises interest rates to control inflation, but noted this lower than the pre-pandemic rate of 4%.

Remote work, low mortgage rates, shortage of building material, and wealth inequality have come together to create a historic year for real estate. It should be more balanced in 2022--- One-third of the homes sold in 2021 were OVER the asking price. All of the above being said, no one really knows what will happen...who predicated the pandemic and the result on the housing market? We can definitely forecast that the next 6 months will be very strong for sellers as buyers continue to combat low inventory and rising mortgage rates. We are here to help in any way possible...if you or someone you know is thinking of buying or selling, we would love to help you!

Thank you!!!!

Eric & Lynn Purcell 

Posted in Real Estate Advice
Oct. 20, 2021

St Charles IL Real Estate- 714 Washington Avenue

SOLD

Looking for an updated RANCH close to downtown that is "move-in" ready? Your SEARCH IS OVER plus INCOME POTENTIAL--The walkout basement has exterior access and has been used for an Airbnb! New roof 2016...Furnace 2016...Carpeting 2016...Windows 2021...Refrigerator 2020...Deck with screened porch 2018...Basement floor and driveway 2017...Great location just a few blocks from dining, shopping, library, river, and bike trails! Airy living room provides space for entertaining or everyday living, The cook will appreciate the updated maple kitchen open to the dining area with a built-in hutch. 3 bedrooms on the main floor share a full bath and the master bedroom offers a private half bath. ..BR4, full bath, family room plus 2nd kitchen could offer in-law apartment or income from AIRBNB (2019 $15,295...2020 $16,274...2021--have not rented out most of the year) $8,527... Enjoy the screened porch to sip your morning coffee or late-night beverage! Nice deck. Attached 1.5 garage. Peaceful setting with mature trees on a cul-de-sac...Enjoy the best of BOTH worlds---GREAT home with income potential!

Posted in Listings
Sept. 30, 2021

St Charles IL Real Estate-1831 S 4th Place

SOLD

New Home For Sale St Charles IL: $399,900

If you are looking for the PERFECT, UPDATED, MOVE IN-READY HOME---THIS IS THE ONE FOR YOU! About 3 blocks to the Fox River, walking trails, and bike trails! From the moment you drive up to the well-manicured setting, to the covered porch to relax and unwind, or to stepping in the lovely living room with the cozy fireplace and French doors into the family room---You KNOW you are HOME! Hardwood flooring, abundant windows for fabulous light, and great floor plan are just a few of the pluses. Dining room with hardwood flows into the updated gorgeous chef's kitchen--sure to please the cooks in your house! White cabinetry, Quartz countertops, stainless steel appliances, and wonderful breakfast bar/island is great for everyday living or entertaining! Bayed doors lead to paver patio , fenced yard and play space (or garden area). Family room is adjacent to the kitchen area for easy entertaining or watching the TV! Second floor has master bedroom with tray ceiling, WIC, and luxury bath with large walk-in shower, whirlpool, and vanity with dual sinks. Bedroom 2,3, and 4 share hall bath, with tub/shower and vanity, SECOND FLOOR laundry makes life SO much easier! Expansive game room area allows for many uses, recreation room offers an additional entertainment space in the finished basement and powder room is a plus! Updates: Newer patio and water softener...Furnace and A/C 2020...Interior painted and master bath glass shower door 2021...220V in garage...Mature landscaping and fencing provides a private area for grilling, entertaining on the patio, and "play space."

Posted in Listings
Sept. 29, 2021

St Charles IL Real Estate-4322 Prairie Crossing Drive

 

SOLD

$739,900

WOW, what a value, ideal location on over 1/2 acre lot backing to landscaped open space and next to pond for ultimate privacy in prestigious River's Edge. UPDATES: Anderson Windows (2019) Furnace and A/C (2019) Front door entry (2019) Epoxy garage floor and built-in cabinetry (2019) Washer and dryer (2018) Sump pump (2018) Refrigerator/freezer (2017) Exterior painted (2016) Roof (Showalter--2016) 2 water heaters (2015) House generator (2006). Luxury home with over 5548 square feet of finished space (with basement). 5 FULL baths, 5 bedrooms, sunroom, huge master suite with windowed sitting area, finished English basement with recreation, game, exercise, office, bar, and full bath! Perfect in-law set-up or home office area! Custom-built one-owner home has tons of windows (new Anderson Renewal 2019), 18-foot volume ceiling in the family room with wall of triple windows and angled fireplace. Cooks in your home will enjoy the gourmet kitchen with the rectangular breakfast bar, granite countertops, tile backsplash, walk-in pantry, hardwood flooring that opens into dinette area with doors to deck! First floor den/library and inviting octagonal windowed sun room--great for sipping morning coffee or moon-lit late night beverage! Master bedroom has walk-in-closet, sitting area, and bath with dual sinks, soaking tub, and a separate shower. Other 3 bedrooms have walk-in-closets, one has private bath, and another full hall bath! This home has everything you want and more! Only one neighbor and backs to preserve park across the street! Walk to St. Charles North High School! Close to the river and trails, shopping, restaurants, and all amenities! You will love this home and the versatility it offers for daily living and entertaining!

 

Posted in Listings
Sept. 5, 2021

Thornwood Subdivision-South Elgin IL

 

Thornwood is a well-planned subdivision nestled on 750 acres of land and boasts a $3.8 million clubhouse on 6 acres of land. 

Initially building started in 1999 (homes and townhomes) and houses currently range from $380,000 to $715,000 in 2021. 
Living in Thornwood offers the amenities of the clubhouse, outdoor pool, basketball and tennis courts, sand volleyball, playgrounds, pond with wildlife---take a leisurely walk around the pool and watch the ducks and geese swim and splash! Miles of bike paths, St. Charles District #303 schools--Corron Elementary School is located within this subdivision! Quick access to I-90 and the Randall Road shopping corridor are major pluses!
The community homeowners association offers Easter Egg Hunt, Pictures with Santa, Halloween Trick or Treat event, garage sale, and many more appealing options.
Posted in City Info
Aug. 13, 2021

St Charles IL Real Estate-38W724 Hilltop Drive

SOLD

$339,900

Looking for a PEACEFUL 1/2 acre setting on a "dead-end" street that is updated and impeccably maintained? THIS IS THE HOME FOR YOU! Open airy floor plan with hardwood flooring in the living room and dining room...Gourmet kitchen with white cabinetry, stainless steel appliances, hardwood, breakfast bar, and flows into the family room with brick fireplace, hardwood, and French doors to the fabulous vaulted screened porch. You will spend your morning drinking your coffer before work and end your day with moonlight and ice tea in this peaceful setting! Master bedroom is good sized and offers a master bath. 3 other bedrooms (one can be a den, if you wish) share hall bath. All done from 2015 to date...New roof...Painted exterior...fenced yard and landscaping...Gutter, facia and soffits...Patio with seating wall and lights...Refrigerator, dishwasher, countertops, trendy backsplash, stainless steel sink and faucet...stainless cooktop...Ceilings painted and no "nail pops." Painted fireplace and (changed to gas logs with remote) bookshelves...Plexiglass windows and screens for porch...Tankless water heater...Battery back up for sump...Humidifier...Doors in kitchen...Great landscaped fenced yard with large brick paver patio for entertaining, grilling, or eating out! Bike path and trails nearby and easily accessible...Impeccable and MOVE IN READY!

Posted in Listings
July 12, 2021

St Charles IL Real Estate-212 Regency Court

 

$409,900

SOLD

From the moment you step on the front porch, you know that you are HOME! Expansive living room into the dining room with hardwood flooring allows for fabulous entertaining or everyday living! The chef's kitchen has "cherry" cabinetry, granite counters, stainless steel appliances, a walk-in pantry, a double oven, and a center island which opens to a dinette area with doors to a brick paver patio. The kitchen and dinette flow into the family room with a stone fireplace, hardwood flooring, and a wall of windows for plenty of light and views! The first-floor den can be used as an office or bedroom. The powder room with cabinetry completes the first level. The second floor offers a loft area with fabulous space for office, home learning, playroom, or whatever you desire! 2nd-floor laundry too! The Master bedroom has a tray ceiling, double windows, ceiling fan, two walk-in closets, and a master bath that boasts a whirlpool tub, separate shower, and vanity with dual sinks! Three ample-sized bedrooms share a large hall bath with tub/shower and vanity with dual sinks! Full basement for storage or waiting to be finished. HUGE brick paver custom patio with brick surround for incredible entertaining and cooking! An open yard that is adjacent to the park area for the subdivision. SHOWS LIKE NEW. The garage floor is epoxied and the second-floor bedrooms freshly painted. Close to the Great Western Trail, St. Charles award-winning schools, shopping, and restaurants.

Posted in Listings
June 18, 2021

St Charles IL Real Estate-2120 Persimmon Drive

SOLD

$610,000

Looking for a stately all BRICK home on 3/4 of a wooded acre in prestigious Persimmon Woods located on the East Side? Here IT IS! The chef in the family will love the designer "all white" luxury kitchen with HUGE granite island/breakfast bar, custom white cabinetry, high-end stainless steel appliances (Wolf stove with custom hood), hardwood, and pantry--fabulous for everyday living or entertaining! Large living room has gleaming hardwood floors, fireplace and is a wonderful place to relax! In the dinette area there is a wet bar in demilune console cabinet that flows into the family room with a floor-to-ceiling raised hearth brick fireplace, and hardwood flooring. Incredible office/library with hardwood and floor-to-ceiling book shelves with "rolling ladder." Powder room with stylish cabinet and chic sink. Large laundry room with tile floor, cabinetry, tile "folding" counter, built-in washer and dryer and door to yard. Another powder room off the front hall area. Windows replaced (2019) in home. Second floor has been freshly painted. Massive master bedroom has plantation shutters, enormous walk-in closet with closet organizers, and incredible bath. New "on trend" bath offers contemporary vanity with double sinks with custom faucets, "on-trend" slipper tub, fireplace with upscale tile surround, and separate multi-tiled dual head shower. Bedroom 2,3, and 4 share hall bath with vanity/bowl and tub/shower. Finished basement has new carpeting and fresh paint (2021), recreation room has a built-in bar area with serving counter and shelving, and exercise/play room to "work off energy." Garage keypad (2021), Water heater and sump pump (2020). Many choices are yours in the gorgeous, private wooded yard...What to choose? Deck, patio, outdoor grill? This home affords so many options for daily living. Close to high school and middle school, shopping, downtown night life...Owner hated to leave, but transferred. Be the next owner of the wonderful combination of "updated" home on mature gorgeous wooded lot in great subdivision

Posted in Listings
June 17, 2021

St Charles IL Real Estate-39W850 Prunetree Lane

SOLD

 

$444,900

 

Looking for an "on-trend" home nestled on a private 1.3-acre cul-de-sac backing to open space and a winding nature path? Look no further--You HAVE FOUND IT! Rolling green lawn and mature trees line the property and create a "natural border fence," for privacy! Newer: Roof, Furnace & A/C, Double Hung windows (South and West sides of home 2017) Interior paint & crown molding (2021) Exterior paint & stained (2019) Carpeting (2019) Custom window treatments (2021) Well Tank & Pump replaced (2011) New sump pump (2021). From the moment you enter the 2-story foyer---you know you are HOME! Living room with built-in cabinetry and bookshelves. The dining room has a "designer" chandelier for romantic dinners or fabulous entertaining! Gourmet kitchen offers white cabinetry, hardwood, stainless steel appliances, breakfast bar/island, HUGE walk-in pantry, and a charming triple window bay that has a window seat to sip tea and take in nature's splendor! Dinette area flows into family room with raised-hearth brick fireplace and "bayed" French doors to the deck. Powder room and laundry complete the first floor. Master bedroom has ceiling fan and blinds and bath has "His" and "Her'' separate vanities, whirlpool, separate shower and 3 windows with palladian above for the focal point of the room. The 3 other bedrooms share the hall bath with updated flooring, white vanity with sink, and separate shower. The finished basement has large recreation room and office/exercise room to "keep in shape!" Great storage in the basement. The ample deck is the perfect place to start or end your day---relaxing and drinking your favorite beverage! Splitrail Farm is a wonderful place to enjoy the "open spaces" and take leisurely strolls. 

Posted in Listings
June 15, 2021

St. Charles IL Real Estate-4N640 Old Lafox Road

SOLD

Looking for an impeccable, well-manicured, and "trendy" home with all the "want" boxes checked? THIS IS THE HOME FOR YOU! Step into the two-story foyer with catwalk above, wainscoting, and transom above living room entrance, and stroll through the open, flowing floor plan! The chef in your home will love the gourmet kitchen with floor-to-ceiling cabinetry, freshly painted (2020), granite counter tops, large breakfast bar island, stainless steel appliances (refrigerator and microwave 2020), dishwasher (2015),"jazzy" subway tile backsplash, newer "designer" light fixtures (2020), hardwood flooring, and ample dinette area with doors to the custom patio area. Kitchen flows into the vaulted family room with floor-to-ceiling stone fireplace and wall of windows affording panoramic, treed views of backyard. Convenient first floor den/office, powder room and laundry complete the first floor. Second floor offers large tray-ceiling master bedroom with crown molding, walk-in-closet, and master b

Posted in Listings