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61. jwgipson
    Member

    Local signs meaning RIverside agents? My home is for sale through a Downers Grove agent. We're purchasing our new Riverside home from a Darien agent. Neither are foreclosures.

    You may see some of those "for sale" signs disappear over the next month. The deadline for government credits was April 30th to choose the home you want, meaning to sign a contract with intent to purchase. In order to get the credit, the deal must be closed by June 30th. Our home(s) close near the end of June, as I'm sure several others currently under contract will. Of course, the ones that remain after June could be there awhile now that the tax credit buyer surge is ending.

    Posted Monday May 24, 2010 22:11 #

62. mrt
    Member

    jw, welcome to Riverside! Good point about the federal deal on homes.

    I literally just saw this relevant link on yahoo's main page.

    http://news.yahoo.com/s/ap/20100525/ap_on_bi_ge/us_home_prices

    Posted Tuesday May 25, 2010 12:17 #

63. jwgipson
    Member

    Thanks, mrt. We've been at our current house in Riverside for nearly four years (sorry if that wasn't clear in my original post) and most definitely wanted to remain in town. Riverside is beautiful and truly unique given its proximity to the city while still having a rural feel. We love it here and are looking forward to continuing to raise our one-year-old in such a great community.

    As for homes for sale, I believe many folks, including realtors, are really at a loss as to how to price their homes. All too often, the homes are priced too high and the sellers are ending up chasing the market downward as they slowly lower their price. It was very hard to gather comps while trying to price our property or make on offer on our new one. Luckily, we had a great realtor that hit the sweet spot on price, plus we put in a lot of work to make sure our home was in top showing condition. Our home was on the market just over a month before we signed a contract with our current buyers. I think many of the homes sitting on the market are stuck there simply because the sellers are holding out for a price they realistically won't see again for many years.

    Posted Tuesday May 25, 2010 14:28 #

64. Kelly
    Member

    Anyone see the Trib article today about falling home prices? Prices buoyed temporarily last year because of new home tax credits and now they are falling with no end in sight. Mortgage rates are inching back up too. Is this a perfect storm? Any good news out there?

    April 25, 2011
    Homes for Sale 158 $299,900
    Foreclosures 37 $329,000

    June 15, 2009
    Homes for Sale 63 with a median price of $429,900
    Foreclosures 43 with a median value of $307,575

    http://realestate.yahoo.com/Illinois/Riverside

    http://www.chicagotribune.com/classified/realestate/sell/ct-biz-0424-housing-prices-20110424,0,4428705.story

    Posted Monday Apr 25, 2011 21:11 #

65. chrisrobling
    Member

    There is no good news. We are charging into a stag-flation similar to the late 70s: high gas prices, soft and uneven growth, price rises, declining dollar, increasing interest rates, etc. The next five years will be awful -- and that's assuming President Obama does not return. If he does, the next nine years will be awful.
    Have a nice day.

    Posted Tuesday Apr 26, 2011 08:28 #

66. PAR4
    Member

    Chris - Just curious what you feel the republican party can do to save us the additional four years of pain? It seems, in my recollection, they were the ones that led us down this path to begin with? Historically, they have gotten us into a war to prime the manufacturing pump - that seems impossible at this juncture....unless O gets us out of the Middle East and they get us back in?

    Posted Tuesday Apr 26, 2011 11:33 #

67. chrisrobling
    Member

    It's not a party thing. It's a policy thing. My cites? Greece, Portugal, Ireland and the U.K. Anyone who stops spending, cuts the federal government by 15 to 20 percent, secures the currency, broadens the tax base, eliminates tax loopholes, reduces marginal tax rates and rationalizes regulation will create a growth platform for all Americans. The D or R by one's name tells much less than the policies s/he supports.

    Key fact, largely unreported: A week ago Sunday, 17 April, the Chinese central bank increased reserve requirements significantly. Other things equal, that monetary policy step constricts (reduces) growth. Lots of reasons it did so, they do not matter re your question so much right now. What matters is -- w/in 18 hours S & P downgraded the U.S. debt outlook. Why? Constricted growth means lesser appetite for U.S. paper.

    This is a pointed example of our economic vulnerability. At this moment, its principal cause is deficit spending. Next, the debt. Then, our rate of growth. Please note, none of this is party-D or party-R, this just is. They key to engineering vulnerability out of our economy now is approaching these matters as they are, and not as partisans would like to portray them in the next campaign.

    Posted Tuesday Apr 26, 2011 13:23 #

68. spatny
    Member

    FYI - This came out today.

    S&P/Case-Shiller Home Price Indices
    The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. The indices are calculated monthly and published with a two month lag. New index levels are released at 9am Eastern Standard Time on the last Tuesday of every month.
    Latest Press Release

    There are a lot of ways to view the trends on this page...

    http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us----

    Posted Tuesday Apr 26, 2011 19:51 #

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