MAUREEN BRAND CRS, GRI, SFR, CDPE
Each office Independently owned and operated.
847.477.0029
MaureenBrand@outlook.com www.MaureenBrand.com
1310 N Roselle Road, Schaumburg, IL 60195 847.230.7001
POPLAR CREEK & THE LINKS AT POPLAR CREEK NOVEMBER 2020 | REAL ESTATE MARKET REPORT
IRENE MARKGRAF SRES, GRI, ABR, SFR
847.951.1749
IreneMarkgraf@outlook.com www.IreneMarkgraf.com Published by REAL Marketing (REM) | www.REALMarketing4You.com | 858.952.4280 | ©2020
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THE MARKET IS ABNORMALLY HOT Typically, the real estate market tends to hit the brakes in the fall, as kids return to school and families juggle work, extracurriculars, and the upcoming holidays. But that’s not what’s happening. Homes are getting snapped up faster as values rise and mortgage rates continue to slide.
WHY IS HOMEBUYING TAKING OFF NOW?
HOW THE PANDEMIC SHAPED THE MARKET
Experts can’t point to just one reason why homebuying has defied expectations as we face a still uncertain economy and elevated levels of unemployment. Why is there such a big appetite now?
Experts agree; the coronavirus has changed what people are looking for in a home—but to what extent is up for debate. Are people really abandoning major cities to buy houses in the suburbs?
Low mortgage rates? More space to work from home? Buyers who waited for the pandemic to subside? It’s likely a combination of a few or all of these factors. Buyers who were held back during the spring watched mortgage rates drop. Now that businesses are opening and more people are finding ways to live safely, the homebuying hesitancy has subsided. Low rates are just adding extra impetus to an already motivated buying segment.
POPL A R C R E E K
Data suggests an interest in more space but not necessarily leaving the city. Many want to trade in their penthouse for a townhouse rather than leave the city. “After analyzing a slew of housing market data, we have not seen suburban markets strengthen compared to urban ones, nor an increase in search activity for single-family detached homes,” says Cheryl Young, senior economist at Zillow. Regardless of where you live, extra space is commanding buyer interest.
“With unusually high buyer interest this late in the homebuying season, buyers are moving much faster than this time last year to beat out competition and lock in low mortgage rates. This means homes are sitting on the market for much less time, despite notably higher price tags.” —Danielle Hale, Realtor.com Economist by Forbes.com. Published September 11th, 2020 at 12:18pm by Forbes staff.
Jonathan-Thomas and Angela-Marie, This is the perfect time of year to take advantage of the unique market and historic conditions; don’t miss this opportunity! Call us today at 847.477.0029 or 847.951.1749 to receive a personal market analysis.
T HE L INKS A T POPL A R C R E E K www.PoplarCreekandTheLinks.com PRESENTED BY MAUREEN BRAND & IRENE MARKGRAF YOUR POPLAR CREEK & THE LINKS AT POPLAR CREEK REAL ESTATE SPECIALISTS PREPARED ESPECIALLY FOR
Jonathan-Thomas and Angela-Marie Williams