In Case you were wondering about the Real estate market in NW Indiana, here is a summary.
Chart clearly shows what we already knew, Home prices are up and they are selling quickly.
People were cautious in the pandemic, but they didn't let it stop them from Selling and Buying!
(Price per sq ft is in Dollars)
Illinois Prices also did very well.
This is a great Market to Sell, Indiana or Illinois, but a challenging market to purchase a home. Buyers had to compete with other buyers who were interested in the same home, which drove the home prices even higher.
Buyers far exceed the supply of homes making it a huge sellers market. Low Interest rates allow more buyers to qualify for homes. Buyers and sellers were moving for a variety of reasons: Covid, Crime, warmer climates and moving closer to Family were the reasons we heard often.
Speaking of low interest rates, have you inquired about refinancing?
If your current mortgage interest rate is 4% or above, you may want to check into this. Email us with questions.
We hope you and your Family were safe during this crazy pandemic. The safety rules we established with our Listings turned out very successful. We received no reports of anyone being infected with the virus while their home was for sale. We also found that most buyers were very respectful of others and were conscientious about keeping safe.
Selling Your Home During
a Pandemic:
To protect our sellers, we have door signage and we send an Email to the Buyer’s
Agent before the showing that states: Here are the rules that buyers must follow before entering one of our listings. (ALL our sellers were pleased with this). Posted Door sign and Agents were given these rules prior to their visit.
- No more than 4 people in the home at one time.
- If you are not feeling well or have been recently exposed to someone who had the virus, please do not enter this home.
- Masks must be worn while inside.
- Buyers must use hand sanitizer and shoe covers before walking through the home.
- Toilets are not to be used.
Our Listings in both Illinois and Indiana had accepted contracts on them within 15 days. The main reason was the hot real estate market, the others were the success we had in attracting these buyers to our listings.
Video Walk through Tours for those Buyers who need to buy a Home but are concerned about
the Covid virus. These buyers do not want to walk through dozens of homes. The Video walk through
tour will provide them an opportunity to view your home just as if they were walking through it in
person, if they like what they see, they will arrange an actual showing. This is a HUGE advantage
over your competition which does not have this feature!
Professional photos and Aerial shots attracted buyers to our listings
Our switch to McColly Real estate in May of 2020 was a great move for us and our clients. I like to think of McColly as a local power house whose principles are honesty and Clients come first. Our office is located across from Aldi and the Schererville Post Office.
We write a real estate column for a small local paper. The #1 question we get is from disgruntled buyers who lost the home they really wanted. Here is the answer to that:
Question: We recently made on offer on a home, the owner counter-offered, we turned down the counter-offer. A few days later we e-mailed the broker that we would like to make the same offer again. A couple of days later the broker called and said the owner was considering our offer. A few more days passed, we heard nothing from the broker, but we decided to go with the owner's counter-offer if the seller turned us down again.
The call never came from the broker. Instead an e-mail was sent saying the owner didn't accept our original offer and that the home was now under contract. Now we think we should have been given the first chance to accept the owner's terms instead of it being sold to someone else. The home had been on the market for more than a year so it wasn't like there was a great demand for it. What do you think?
Answer: You were given any number of chances to buy the property. First you made an offer that was not accepted. Then the owners made a counter-offer that you could have instantly accepted -- but did not. Then you re-submitted your original offer and it was not accepted by the sellers. Lastly, you want another chance at the counter-offer you first rejected but by this time the owners had accepted a bid from other purchasers.
The bottom line: You had your chance. There are many players in the marketplace. The fact that the home did not sell quickly does not mean the owners are required to sell on your terms. Lastly, an offer or counter-offer once rejected is dead and need not be re-considered.
The Most expensive home that sold in NW Indiana Lake county:
Crown Point! Morningside subdivision. Cascading waterfalls and tree-lined streets welcome you home. Situated on 3.7-acre wooded cul-de-sac lot in an exclusive gated community, this gorgeous home will impress. 6600 square feet. Built in 2006. 4 bedrooms and 6 baths.
List Price: $1,875,000.
Sale Price: $1,700,000. Sold in 30 Days.
Most Expensive home that sold in the Lansing, South Holland, Lynwood and Thornton Illinois Areas:
19801 Lake Park, Lynwood. $379,000.
This one was our Listing.
Spectacular 2 Story Brick Home loaded with Quality Features! 5 Bedrooms, 4 Full Baths. Over 5.000 sq ft of Finished Living Space! Enter the home into the Foyer with an Impressive 17 ft Ceiling. Attractive Living and Dining rooms with Tray Ceilings. Fabulous Kitchen with Center Island, Breakfast Bar, Granite Counter tops, Ceramic Back splash, Recessed lights and Stainless Steel Appliances. Main Level Family room is open to the Kitchen with Arched entrance, Vaulted Ceiling, Plant Shelf and Fireplace. Main Level Laundry room with Washer & Dryer Included. Main floor Bedroom and Full Bath, Perfect for Related Living. Upper level features 4 Bedrooms, all with Walk In Closets. Master bedroom has a Gas Fireplace, a 19x11 Walk in Closet and a huge Luxury Bath with double Sink Vanity, Walk in Shower and Deep Whirlpool Tub. Basement is Beautifully Finished with a Rec/Workout room, 2nd Family room, Playroom, 2nd Kitchen, Full Bath and a Spacious office.
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Great Windows App for your Personal & Business Use:
It's called "Sticky Notes."
We guarantee you will use this regularly!
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Interesting Article that maybe we should all think about:
"Imagine you were born in 1900.When you're 14
World War I begins and ends at 18 years old with 22 million dead.
Shortly after, a global pandemic called 'Spanish flu' kills 50 million people.
You come out alive and free. You are 20 years old.
Then, at 29, you survive the global economic crisis that started with the collapse of the New York Stock Exchange, causing Inflation, Unemployment, and Hunger.
At 33, the nazis come to power.
You turn 39 when World War II starts and ends at 45 During the Holocaust (Holocaust), 6 million Jews die.
There will be over 60 million deaths in total.
When you're 52, the Korean War begins.
A boy born in 1985 thinks his grandparents have no idea how difficult life is, but they have survived several wars and disasters.
A boy born in 1995 and now 25 years old thinks it's the end of the world when his Amazon package takes over three days to arrive or when he doesn't get more than 15 likes for her photo posted on Facebook or Instagram.
In 2020, many of us live comfortably, have access to different sources of home entertainment, and often have more than we need.
But people complain about everything.
However, they have electricity, phone, food, hot water, and a roof over their heads.
None of this existed before.
But mankind survived far more disastrous circumstances and never lost the joy of living.
Maybe it's time to be less self-escaped, stop complaining, and stop crying."
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And Last, but not least.... The glamourous life of a Realtor:
https://www.youtube.com/watch?v=EAVrx5Nw9rI
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We wish you all a Very Happy & Healthy 2021 !!
If you or someone you know is Planning on Selling this Year, please pass along our name. Your referrals are the best compliment we can receive.
If you are thinking of selling but are worried about having us out to your home because of the pandemic, give us a call. With current technology, we don't even need to enter your home to give you an estimated selling range and the associated costs. We can even discuss all covid precautions.
Jim & Cathy Higgins
Illinois: 708-828-3304
Indiana: 219-577-5905
Email: Cathyhiggins@mccolly.com
