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Although this is not necessarily good news, this is true news. Many of my sellers depend on me for honest, valid information. this piece sources from the Illinois Policy Institute and relays a fact that affects all of us homeowners. Weak home values are certainly lagging our market.
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For the Greater Rockford Area, many wondered if the developments in Mercy Health and the new Amazon facilities at the Rockford International Airport would boost our housing values. I have not noticed an impact on the housing market and believe we are now at the top of the market values heading downward.
According to CNBC, we’ll be shifting into what we call a buyer’s market. First-time home buyers will see that mortgage rates are around the lowest its been in three years.
If your home i slisted, respond to the market’s interest on your home and adjust the price if need be. The market’s average days listed is 44. Team Sold On Toni’s is 33 days. If you are thinking of listing, it is the available homes in direct competition to yours that will affect the price – not the month your home is listed. Homes sell in Fall and Winter months because it isn’t the same inventory we see in the spring market. Speaking of the Spring market, there is a good cahnce our home values will be decreasing in value. Your weak home value will more than likely change come Springtime!
Toni Vanderheyden
Realtor/Founder of Sold On Toni, Keller Williams Realty Signature
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