Greg Olson-Downtown Palatine - July 2022

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1808 N. Arlington Heights Road Arlington Heights, IL 60004 remaxsuburban.com

GREG OLSON

DOWNTOWN PALATINE’S

CPA | SFR | Managing Broker 4207. 7.9 784

GregOlsonRealEstate@ DowntownPalatineHomes

gmail .com

FINEST CONDOS & TOWNHOMES

.com

www.DowntownPalatineHomes.com

Living, Loving, and Promoting uO r oC mmunity’s aV lue iS nce 2004 Published by Real Marketing (RM) | www.REALMarketing4You.com | 858.952.4280 | ©2022

iV sit

of r community info, listings, and recent sales.

DoPnwot Henital moc.se

JULY 2022 REAL ESTATE MARKET REPORT

ACHIEVE YOUR REAL ESTATE GOALS WITH GREG OLSON UNDER CONTRACT WITHIN 48 HOURS

JUST LISTED AND CLOSED BY GREG

190 W JOHNSON STREET #501

147 N MAPLE STREET

2 BEDS | 2.0 BATHS | 1,500 SQ. FT. OFFERED AT $299,900

2 BEDS | 2.1 BATHS | 1,800 SQ. FT. OFFERED AT $349,900

Demand is high, and I have motivated, well-qualified buyers

LOOKING FOR THEIR NEXT DREAM HOME IN DOWNTOWN PALATINE! Downtown Palatine Homeowner, Selling a home in Downtown Palatine requires extensive local knowledge, a great marketing plan, and superior negotiation skills. As your Downtown Palatine real estate expert, I know a number of buyers who might be interested in your home. If you have any interest in selling, call me today at 847.977.7024.

PRESENTED BY GREG OLSON

YO U R D O W N TO W N PA L AT I N E N E I G H B O R AND REAL ESTATE SPECIALIST PREPARED ESPECIALLY FOR Downtown Palatine Homeowner

GREG OLSON

“Greg was great from start to finish. He takes the time to listen, very knowledgeable, easy to work with, and excellent at what he does.

Our house sold extremely fast. He came highly recommended, and I would also refer him to anyone looking to buy or sell a home.”

CPA | SFR | Managing Broker

847.977.7024

GregOlsonRealEstate@ gmail.com

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MISSY V.

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DOWNTOWN PALATINE’S FINEST CONDOS & TOWNHOMES REAL ESTATE MARKET REPORT

The Benchmark • The Brownstones • The Groves of Palatine • Palatine Station • The Preserve • Stratford Downtown

HOW WILL RISING RATES AFFECT YOUR SALE?

DOWNTOWN PALATINE’S FINEST CONDOS & TOWNHOMES CURRENTLY LISTED

Mortgage rates are rising and have already increased over two percent so far this year, resulting in buyers questioning whether to rush into a purchase now to avoid rates climbing more or waiting in hopes they will fall. With these sudden changes, it’s natural toreflectonhowthiswillimpactyourownsale.

Interest Rates Are Still Historically Low

What Happens If Rates Climb Further?

What Are Experts Saying?

While buyers contemplate their options, it’s important to think about historical context. Rates are still comparatively low when you look at the bigger picture of where rates have been in the last 30 years. Today’s rates still give buyers a window of opportunity to lock in historical rates.

Buyers who are springing into action now are also motivated as they know rates have risen steadily this year, and they’re eager to get ahead of further increases. When rates climb, they impact mortgage payments, likely costing more to purchase if buyers wait.

Asinflationary pressure remains, it’s likely to push mortgage rates even higher in the coming months, though moderately. Experts recommend that if buyersarefinancially secure, they should continue looking for a home now.

Beds

Baths

Estimated Square Feet*

List Price

Downtown Palatine Homeowner,

Condo

2

2.0

N/A

$294,900

N Rose Street

Townhouse

2

2.1

1,800

$349,000

W Wood Street

Townhouse

3

2.2

2,300

$385,000

Takeadvantageofthestillhistoricinterestrates;NOWisthetimetosellandfind your next dream home! When rates go up, your buying power decreases, and you will end up paying MORE for your next home. Call me today at 847.977.7024 and let me help you achieve your real estate goals!

Status

Subdivision

Street Name

Type

Active

Benchmark

W Palatine Road

Active

Palatine Station

Active

Palatine Station

There are 3 homes currently pending in Downtown Palatine.

For more information, call me today at 847.977.7024.

DOWNTOWN PALATINE’S FINEST CONDOS & TOWNHOMES RECENTLY SOLD Beds

Baths

Estimated Square Feet*

List Price

Sold Price

Sold Date

Condo

2

2.0

1,600

$275,000

$272,500

05/04/22

132 W Johnson Street #406

Condo

2

2.0

1,300

$278,000

$270,000

04/04/22

Benchmark

132 W Johnson Street #102

Condo

1

1.1

1,400

$234,900

$240,000

03/15/22

Benchmark

133 W Palatine Road #310A

Condo

2

2.0

N/A

$280,000

$265,000

02/02/22

Sold

Benchmark

132 W Johnson Street #207

Condo

2

2.0

1,400

$265,000

$260,000

01/19/22

Sold

Benchmark

132 W Johnson Street #301

Condo

2

2.0

1,600

$289,000

$289,000

01/06/22

Sold

Benchmark

133 W Palatine Road #108

Condo

1

1.1

1,100

$250,000

$230,000

12/22/21

Sold

The Groves of Palatine

380 W Wood Street

Townhouse

2

2.1

2,500

$355,000

$363,500

05/27/22

Sold

Palatine Station

160 N Rose Street

Condo

2

1.1

1,000

$225,000

$242,500

04/29/22

Sold

Palatine Station

82 N Smith Street

Townhouse

2

2.1

2,200

$389,000

$370,000

04/22/22

Sold

The Preserve

455 W Wood Street #309

Condo

2

2.0

N/A

$299,900

$299,900

03/01/22

Sold

The Preserve

455 W Wood Street #307

Condo

2

2.0

1,800

$349,900

$346,000

03/01/22

Sold

The Preserve

455 W Wood Street #304

Condo

1

1.0

1,200

$219,900

$210,000

02/10/22

Sold

The Preserve

455 W Wood Street #213

Condo

2

2.0

1,700

$287,000

$275,000

01/24/22

Sold

The Stratford of Palatine

190 W Johnson Street #208

Condo

2

2.0

1,500

$330,000

$320,000

04/01/22

Status

Subdivision

Address

Type

Sold

Benchmark

132 W Johnson Street #101

Sold

Benchmark

Sold Sold

Greg Olson and RE/MAX Suburban are not in any way affiliated with Downtown Palatine Owners Association, nor is this in any way an official advertisement or publication of Downtown Palatine. ©2022 All rights reserved.

This representation is based on sales and data reported by multiple brokers/agents to the MRED MLS for December 22nd, 2021 to June 14th, 2022. Listings and sales may not be those of RE/MAX Suburban. MRED MLS does not guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Square feet rounded down to nearest hundred. Call today for full details.

The Messina-Wallace Team is committed to providing you the highest quality financial solution that is specifically tailored to meet your financial needs. Whether you are purchasing the home of your dreams or refinancing an outstanding loan, we can help you find the right program.

PRODUCTS OFFERED: Conventional, FHA, VA, Jumbo, USDA, and IHDA Purchase or Refinance

Pasquale Pete Messina NMLS: 227000

Chris Wallace

C: 847.951.1697

NMLS: 224090

pmessina@myccmortgage.com

C: 708.525.5953 Chris.Wallace@myccmortgage.com

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