August 17, 2010 by
Sharron ·
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The biggest question for Home Sellers in Long Grove Illinois is: when are home prices going up? There are currently 153 homes for sale in Long Grove, 4 Long Grove Homes sold in July and 9 more are currently under contract and awaiting closing. Based on the current supply and demand, basic math points to it taking roughly 38 months to sell your Long Grove home in today's market. While most people want to believe that real estate is recovering, the reality is that it has a long way to go. Real estate is closely tied to employment, and employment figures are still not looking good. Last night on the evening news it was reported that we lost 484,000 jobs this past month and Chicago lead the country with an increase of 30 percent in foreclosure filings. What does this mean for Long Grove Home Sellers?
Firstly, if you are not willing to price your home to sell, then now is not the time to put your home on the market. Secondly, if you are going to sell your Long Grove home then your need to prepare it to sell.
As an experienced Long Grove Realtor, when I meet a new potential client we go through the house and I make suggestions such as getting rid of the clutter, taking down wall paper, painting, replacing old carpeting, updating appliances , and so on. I also hire a home stager for a consultation once we are committed to work together.
Selling your Long Grove Home today is like being in a beauty contest with a price war. With 38 months of inventory you need to finish in the top 5 percent of every showing. The market is going to take years to recover and until we have jobs we will not see a price recovery and no one knows where the market is going to end up. If you are waiting until next year because you think the pricing will be better when it comes to Long Grove real estate, that will not be the case, so if you want to sell then do not wait to move forward with your plans.
If you would like more information on Long Grove Real Estate, contact me, Sharron Kelley, www.NorthernIllinoisHomes.com for all of your real estate needs. at 847-465-3638 or email me at Sharron@NorthernIllinoisHomes.com. Click here for some information on market pricing in regards to homes in Long Grove IL.