Illinois Real Estate Improves
Image by Getty Images via @daylife
Illinois Association of Realtors’ (IAR) reports that statewide home sales (including single-family and condominiums) in October 2011 totaled 8,536 homes sold, up 15.3 percent from 7,402 home sales in October 2010.
More related Positive News
Positive Realty News Survey Report
April 13, 2011 by admin
Filed under Real Estate Articles
The Cotton and Company sent 65,732 registrants on resort and real estate websites a survey on their home buying intent.
Total responses to date: 807 Survey sent: February 25, 2011 Click the PDF graphic to get the report.
Or visit www.TheCottonSolution.com
Background: The Cotton and Company are industry leaders the sales and marketing of residential real estate throughout the United States, Latin America and the Caribbean. Managed more than 1600 properties over the past 28 years. Provides integrated market research, analytics, marketing, web development, public relations, sales management, and customer database management services.
Some of the more salient findings:
The vacation home market has experienced a rebound in 2011, moving from 4% to 36% interest year-over-year. This is the
highest level of interest throughout the 3-year period.
• In 2010, 95% of the respondents who were no longer in the market for real estate cited economic instability as the reason for not
purchasing. In 2011, 46% of the respondents cited no desire to move, indicating a 41% drop in the response aligned with
economic conditions.
• Buyers who must sell their home prior to purchase dropped 10% year-over-year, reflecting 32% in 2011.
• Buyers who plan to purchase within 6 months saw a 21% increase from 2010. In 2011, 25% of the buyers indicate a timeline to
buy within 6 months, however, a 13% increase in the “over 2 years” category was also noted.
• Respondents remained virtually unchanged in their answer to “Have we reached the bottom of the market?” signifying continued
concern over pricing stability.
• The level of anticipated price reduction continues to show improvement in 2011, a result of significant price adjustments in the
market. In 2009, the median anticipated discount was 50%. In 2010, 30%. In 2011, this level has reduced to just 20%.
• Buyer transition indicates a continued trend toward downsizing and geographic relocation. This trend is also reflected in the
increased interest in smaller villa product type.
• 1,700 to 2,300 square feet remains the most popular residence size. However, growth occurred in the smaller home segment
with 31% of the market seeking a home between 1,000 and 1,600 square feet of space.
Mr. Cotton offers up his advice to Realtors and Mortgage pros on how to get their marketing ready to handle the realities of todays real estate market.
More related Positive News
Denver Among Best Places to Live, Work and Play in the US; Boosting Local Real Estate Values
August 17, 2010 by admin
Filed under Positive Real Estate
- Image via Wikipedia
Denver, CO
Recently ranked 6th in Forbes’ recently released “Best Places for Business and Careers” list and landing in the top 25 cities in Men’s Journal’s “Best Places to Live in 2010;” the city of Denver has received quite a bit of positive attention this year. Residents and experts alike remain positive about the current and future of the city’s economic and real estate market. Leading Denver Real Estate Specialist, Donavon Paschall, notes that The Mile-High City is no stranger to such accolades, thus the success of the city can be reflected in its bolstering real estate market.
“Denver seems to have a perennial spot on lists like these,” he says, “which is not something that comes as a surprise for those who live and work in the area. Denver is doing a lot of things right.”
Paschall particularly agrees with Men’s Journal’s praise of the city’s vibrant downtown area. “Denver’s urban neighborhoods are loaded with old world charm and are just steps away from offices, restaurants, open spaces and cultural venues. Denver urban living is something that many people aspire to these days.” The magazine called Denver’s downtown “one of the best in the country for work, owning a condo, and walking to everything.”
A top-selling real estate agent in the 80205 and 80207 zip codes, Paschall specializes in Northeast Denver real estate and Denver classic homes. “Denver has entire neighborhoods of beautifully maintained and remodeled historic homes,” he says. “Those who’ve always dreamed about living in classic homes along tree-lined streets that are just minutes from parks, schools and commercial areas will find more than a few options here.” Paschall himself has had a great deal of personal experience in renovating classic homes within Denver’s downtown area.
Some fine examples of Denver classic homes currently on the market can be found in Paschall’s recently launched website, www.HomesByDonavon.com. The new site also features virtual tours of the featured homes, as well as a property search tool where users can search for real estate throughout Denver’s historic neighborhoods.
