Real Estate Market Improving in Schaumburg, Chicagoland and Beyond! – Chicagoland NW Suburban IL Real Estate & Community

Right now there are some who are still glum about the Real Estate market – I say, lighten up! Things aren’t all that bad. Things are definitely turning around for the nation and for Schaumburg.

The Mortgage Bankers Association released some exciting figures announced in Realty Times showing that applications for home loans are up! In fact, applications were up 4.5% from the previous week and refinances decreased by just over 1%. Why is this exciting news? Well, less refinances and an increasing number of applications means that there are more mortgages being written for new home purchases which means that more homes are being sold and the market is stable/growing.

In fact, the NAHB First American Improving Markets Index showed that 76 markets are showing six straight monist of improvements in housing permits, employment levels and house prices. On top of this Realty Trac is reporting that foreclosure activity was down every month last year through November with 1 in 579 homes in foreclosure, a 30% drop from 2010. This is great news for all! Mortgage Rates are also at record lows with the average 30 year fixed conventional loan coming in at 3.88%! A bargain!

Of course as we all know, a growing and strong housing market aids the economic recovery, particularly when there are low interest rates like we are experiencing right now! If buyers are looking for a bargain, now is the time to take advantage of the market and grab a great home at a great price. Schaumburg, Bartlett, Hoffman Estates and the other surrounding Northwest Chicagoland suburbs have held up well, buoyed by a strong local economy and good transport links via road and rail to the downtown and metro Chicago area.

Local Market Conditions for Schaumburg, Illinois show that the market is stable, prices are a little down and sales are a little lower than they were, but the picture overall is one of the market becoming more balanced. So if you are looking for a place in the area – now is the time to buy!

Don’t forget if you are thinking of moving to Schaumburg, Hoffman Estates, Bartlett or any other part of the NW Suburbs? Remember, finding your dream home or finding a buyer is only part of the challenge of a successful transaction. Click here to search Bartlett IL, Schaumburg IL and the Hoffman Estates using our complimentary MLS Search service. You can also view our fantastic range of featured properties!

Alternatively please contact me today if you need more specific assistance in your real estate needs. FILL IN MY CONTACT FORM HERE! Or you can call the office on: 847-874-6731 or Cell phone on: 847-913-2606 or of course email me at: Joe@JoeStacy.com. You can also follow Joe on Twitter @NoAvgJoeRealtor.

My expertise, experience and dedication to you and your specific needs are anything but average – it’s why this office is number one in the Northwest Suburbs year after year!