The Purcell Group Real Estate Blog

Welcome to our blog. Our primary focus is to provide you with in-depth insights into the Kane County & St Charles surrounding area real estate market. Our aim is to empower you to make informed decisions whether you're buying, selling, or investing in Kane County real estate. Dive into our posts and remember to subscribe for the latest market updates!

May 18, 2022

Geneva IL Real Estate: 2758 Miller Road

SOLD

$494,900 🔥🔥🔥🔥

Geneva at it's FINEST! Addition 2010--A/C, Roof, gutters--Furnace 2012--Windows 2005--Gourmet kitchen (2010) sure to delight the cook with bump out, HW, custom cabinetry, breakfast bar island, granite, 2 floor-to-ceiling pantry closets, (appliances 2010) double oven, stovetop, microwave, wine cooler, disposal, dishwasher (2022) open to the family room with stone fireplace (2010), HW, and door to fantastic vaulted "tongue-and groove" 3-seasons room (2010). First floor den/office, living room, expansive dining room open to the kitchen for fabulous entertaining or everyday living! Mudroom with cabinetry and "hooks and bench" PLUS second floor laundry! Master bedroom (2010) has huge 7 x 15 walk-in closet, and FABULOUS luxury bath (2015) with skylight and ENORMOUS walk-in shower with marble to ceiling and "on trend" tile on floor, and custom vanity with dual sinks. Bedrooms 2,3,4 share hall bath with tub/shower. Finished basement has large, open recreation room, playroom, exercise room (addition 2010), and office/flex room. Enjoy your curved stone and brick paver patio, natural gas hook up for gas grill, and stone surround with views of fenced yard, rolling green grass, and trees. Updates: Driveway, garage epoxy floor, and front door (2012). Water heater (2014). Carpeting (2017). Basement updated, back up sump pump (2019). If you are looking for perfection, look NO further.!

Posted in Listings
May 14, 2022

Geneva IL Real Estate-1281 Herrington Road

SOLD

Home For Sale Geneva $409,900

This gorgeous "move-in ready" home offers a fabulous vaulted "tongue and groove" 3-season porch with vistas of green grass and mature trees on large private lot! Updated with "on-trend" lighting, freshly painted, new carpeting on stairs and second floor, "jazzy kitchen," updated powder room and A/C and furnace (2019). Staircase has iron spindles and new chandelier, white trim and doors, LIFEPROOF wood laminate flooring (2019), and new exterior lighting, Gourmet kitchen update boasts white painted cabinetry, new Quartz countertops, faucet, lighting, new microwave, stove, oven, and newer dishwasher. Adjacent dinette area has a bayed window that affords incredible views of rolling green grass and trees for one of the most private yards in the area! The kitchen opens to the family room--great for entertaining or everyday living--has a floor-to-ceiling brick fireplace, wood laminate flooring, and doors to vaulted 3-season porch which will be your FAVORITE spot to relax, eat, and enjoy the peace and quiet of nature. Convenient laundry on first floor has newer washer and dryer! Large master bedroom has custom walk-in-closet, ceiling fan, new carpeting and luxury bath with ceramic tile to the ceiling in the shower! Bedrooms 2,3,4 share the hall bath w/tub/shower and 2 have walk-in closets w/custom closet shelving and drawers. Basement can easily be finished and has ROUGH-IN plumbing and storage area with built-in shelving. Deck, keyless entry on front door, Ring doorbell, new garage door (2022) and radon system installed in 2020...PRIME LOCATION that offers close proximity to shopping, Randall Square Park, Peck Farm, and Geneva Middle School.

Posted in Listings
April 15, 2022

South Elgin IL Real Estate-8 W Ellington Court

SOLD

New Home For Sale in the Thornwood Subdivision:  $479,900

WONDERFUL home in Thornwood with St. Charles Schools with tons of recent updates that looks like it should be featured in a magazine. Move-in ready with the latest "on trend" design features and finished basement with full bath for entertaining and everyday living. A wonderful 2-story foyer flows into the airy living room with newer carpeting, crown, and chair rail that has a French door to the den, and also opens to the dining room with newer carpeting, crown, and chair rail. Updated redone powder room. The gourmet cook will LOVE this kitchen with new trendy vinyl flooring, white cabinetry with new hardware, granite countertops, breakfast bar island, NEWER stainless steel appliances, new light fixtures, pantry closet, expansive eating area with doors to patio. The kitchen is adjacent to the lovely family room that boasts new brick on the fireplace with custom surround to ceiling, NEW built-in cabinet with storage, new vinyl flooring, new lighting, and triple windows for panoramic vistas of yard. The second floor greets you with a small cozy loft area and overlook, and proceeds to newly painted master bedroom with wood laminate flooring, two closets, double windows, new ceiling fan and luxury bath with dual sinks, vanity, soaking tub, and shower. The other 3 bedrooms use the updated hall bath with new flooring, new tile in shower/tub, new vanity and toilet. Everyone will enjoy the newly painted finished basement with new carpeting that has large finished recreation room, wet bar area, exercise room, and full bath---the PERFECT place to spend time for everyone! New epoxy floor and painted walls in garage. Enjoy your patio, new landscaping, and fenced yard in the days to come! New HVAC system 2021. Easy access to shopping and the exclusive amenities Thornwood has to offer, including clubhouse/pool/tennis/basketball and volleyball courts. Elementary school is in the subdivision

Posted in Listings
March 28, 2022

Must Read 2022 Housing Market Update

Right now due to the forces below, it is currently the best seller's market we have seen since 2005. How long will this hysteria last is anyone's guess, but right now in certain price segments, we are at all-time highs...
Roller Coaster Mortgage Rates...The average 30-year, fixed-rate mortgage went down to 3.89% in late February following the news of Russia's invasion of Ukraine.  During the first 7 days of March, the 30-year rate went through some volatile, two-way swings--up and down...Rates dropped to 3.76% in the beginning of the week, which was the biggest drop in over a decade. One day later, rates rose to 4.53% on March 2th and 3rd, and now today, the average rate on a 30 year fixed rate mortgage in Freddie Mac's survey climbed 26 basis points to 4.42 % in the week ending March 24th. That is 57 basis points higher than the average 2 weeks earlier, generating the biggest jump in mortgage rates over 2 weeks since June 2009. Now the fear of having rates rise to 5--7% is causing fear-buying with wild multiple offer prices. 
 
Inflation is at 7.9% year over year and the U. S. economy is experiencing the highest rate of inflation in 40 years! The war between Russia and Ukraine keeps accelerating and the destruction is massive. Oil prices climbed as high as $130 a barrel. Energy is up 3.5%. gasoline is up 6.6% and fuel oil is up 7.7%. Food prices were up 1%, which is the largest increase since April 2020. Energy and commodities are expected to keep trending upwards. Some say that inflation levels could see as high as 9-10% in the upcoming months.
Low housing inventory has seen the market prices accelerate very quickly, with multiple offers in 24-36 hours and sellers choosing the absolute "highest and best" offers for their situations. Competition is extremely steep and is starting to cause issues for closed comps for the appraisers, as prices are really "what a buyer will pay." Increases in asking prices are the "norm" now and it is difficult to gauge the "proper" starting price---supply and demand is setting the selling prices. Existing home sales were 2.4% lower in February from February 2021, but that is due to a 15.5% drop in the inventories of existing homes for sale in the past year, a 17.5% increase in home prices in 2021, and significantly higher rates in February of 2022. Sales of existing homes in February were down 7.2% from January dropping to a seasonally adjusted annual rate of 6.02 million units, Homes were on the market for 2 days less in February 2022 than in 2021...Average 18 days...In this general area, the "norm" for a desirable home in good condition, good location,, and fairly priced is 3-6 days.
FABULOUS TIME  TO SELL--Especially if you already have a place to go, become a cash buyer due to the sale of your home, or can get a bridge loan and buy without selling...Other options on the buying end---staying with family or a rent-back option until you can secure your next home.
Posted in Real Estate Advice
March 17, 2022

Elburn IL Real Estate-3N430 Campton Woods Drive

SOLD

$759,900

FIRST TIME EVER ON THE MARKET, St. Charles School District!!!  BRICK beauty nestled on 1.88 private acres with vistas of 43 acres of natural prairie plants, trees, and professional landscaped gardens. From the moment you enter the 18 x 15 grand foyer with a curved staircase, you will know you are HOME! The chef will love the large kitchen with ample eating area, custom cabinetry with newer Quartz countertops, breakfast bar island, upgraded stainless steel appliances, 4 huge picture windows to appreciate the panoramic seasonal views, and French doors to the 3-season sunroom. Gracious living and dining room boast bay windows, double tray ceiling in dining room, French doors from living room to office--French doors from office also into family room. You will relish your time spent in the vaulted 21' high family room with a gorgeous stone fireplace flanked by custom windows. Primary bedroom has sitting area, kitchenette, 10 x 15 walk-in closet, and "FLEX" tandem 11 x 15 room with access to walk-in attic. Bath has Corian, double sinks and "sit down" vanity area, Jacuzzi, and shower. 2 of the 3 other bedrooms have walk-in closets and hall bath has granite counter, double sinks, and linen closet. Finished lower level offers in-law capabilities with full kitchenette, bath, rec room with fireplace, bar, fitness room, 4 storage areas. UPDATES: New roof 2015, copper flashing and 5" gutters and downspouts 2015. Anderson windows in 9 rooms 2019-2021 with 20-year transferable warranties. 2 furnace and 2 A/C's March 2022, 2 water heaters and purification system 2019. 3 1/2 car garage has stairs to basement, epoxy floor, 3 new garage doors 2017. Hard to decide which is the best outside feature--Privacy from wooded 1/4 acre hillside at back of the property, 16 x 16 Koi pond with surround wall for sitting/viewing, rambling brick paver patio, incredible gardens and landscaped beds (has been on numerous garden/house walks) or panoramic vistas...

Posted in Listings
Feb. 23, 2022

Geneva IL Real Estate-0N268 Armstrong Lane

New Listing in Geneva IL, Mill Creek Subdivision

SOLD

$494,900

Looking for an exceptional "maintenance free like-new" custom ranch that has been ALL redone (over $170,000 in upgrades and updates) and offers an in-law/guest suite in the finished lower level on a quiet street across from nature preserve and golf course? LOOK NO FARTHER! Painted in "on-trend" colors, newer hardwood floors on first floor and Luxury Vinyl Plank flooring in lower level--Replaced interior trim with larger white trim, base, doors and crown--Opened up staircase--Reworked den and powder room--Newer lighting and can lights--Blinds and custom drapes--Remodeled gourmet kitchen with custom cabinetry, Caesarstone Quartz countertops, backsplash, new SS appliances...New master bath with huge shower with glass enclosure, 72" vanity with new countertop, sink, faucet, toilet, and lighting. Powder room redone with antique vanity, countertop, sink, faucet, lighting, and hardwood. Custom-made bookcases, custom surround fireplace, and recessed lighting in the family room...LOWER LEVEL: Walls taken down to create entertaining space, kitchen, upgraded bath, and abundant storage area. Added deck extension, new railings and Anderson patio door (2021). Redid stairs and porch in 2019 with brick pavers. You will appreciate the quality and decorating style in this home.

Posted in Listings
Feb. 2, 2022

St. Charles IL Real Estate-716 Viewpointe Drive

SOLD

St. Charles IL Real Estate:  716 ViewPointe Drive

$529,900

Does NOT get any BETTER THAN THIS! In-town updated hillside WALKOUT RANCH that overlooks the Fox Valley, the river, and the Mount Saint Mary Park with panoramic vistas from deck and patio! Four blocks to downtown St Charles, shopping, restaurants, parks, Riverside Bicycle Trail, and 10-minute drive to Geneva METRA station.. Impeccable home boasts vaulted ceilings in the living room and dining area with a deck off the living room to enjoy your morning coffee or sip a late-night beverage. The chef will love the updated kitchen with white cabinetry, lighting, faucets, backsplash and stainless steel appliances. Main level has gleaming hardwood flooring (2020) and carpeting (2021) in the walkout level. The main bedroom has walk-in closet and luxury remodeled bath that offers dual sinks and "jazzy" walk-in shower. Second bedroom on main floor has remodeled bath with a "trendy" floor-to-ceiling tile shower and classy vanity! Walkout has huge family room with white brick fireplace to enjoy the wintery nights, game/play room, surround sound, and full remodeled bath with tub/shower. Laundry can be done on first floor or larger laundry area in the walkout. Utilize your patio while entertaining or linger and watch the stars! Some of the main updates: New roof and siding (2019), custom 5 1/2" trim and molding, new 2 panel doors and custom front door, new garage door, softener (2021) exterior trim painted (2019) custom blinds (2018) Pella sliding doors main floor (2019) and sliding glass doors in walkout with blinds (2017), and landscaping done 2019. You can look but will not find this quality, convenience, and a walkout ranch this close to town!

 

Posted in Listings
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