Thursday, May 19, 2016

Metro Chicago Home Sales Bloomed in April, RE/MAX Reports; Median Price Gains 10 Percent as Spring Market Shows Strength


CHICAGO, May 18, 2016 – After recording a modest first-quarter improvement, the metro Chicago housing market burst into bloom in April, RE/MAX reports. In the seven-county metro area, both the number of homes sold and the median home sales price were 10 percent higher than in April 2015. Sales totaled 10,125 units, and the median price was $230,500.

The increased sales activity occurred despite a notable decline in the inventory of homes for sale, which totaled 34,641 at month’s end, 9 percent less than at the same time last year. Based on the pace of April sales, that inventory represents just a 3.4 month supply of homes.

The average time a home sold in April spent on the market before finding a buyer was 99 days, down from 105 days a year earlier.

The RE/MAX analysis is based on home sales data for the Illinois counties of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will collected by MRED, the regional multiple listing service.

“Demand for homes across much of the metro area is strong, boosted by the lower interest rates for mortgages that we’ve seen this spring,” said Jack Kreider, executive vice president and regional director of RE/MAX Northern Illinois. “April sales growth was particularly pronounced in the collar counties, where home prices generally have not fully recovered from the decline triggered by the Great Recession. It was good to see those home values make real strides toward recovery in April.”

April also saw the percentage of total home sales involving foreclosures and short sales fall to 16.3 percent, the lowest level since RE/MAX began tracking these distressed sales in 2009.

METRO CHICAGO REAL ESTATE MARKET HOME SALES
APRIL 2016 VS. APRIL 2015










4/16

4/16

4/16



Total
%
Detached
%
Attached
%


Sales
Change
Sales
Change
Sales
Change








Metro

10,125
+10%
6,354
+10%
2,165
+10%
Cook

5,579
+8%
2,885
+5%
2,694
+11%
DuPage

1,281
+9%
859
   +12%
422
+3%
Kane

654
+7%
518
+5%
136
+14%
Kendall

225
+18%
177
+17%
48
+23%
Lake

931
+20%
726
+23%
205
+8%
McHenry

500
+19%
429
+26%
71
-9%
Will

955
+14%
760
+12%
195
+23%
Chicago

2,655
+9%
909
+3%
1,746
+13%








Kreider noted that while April home sales activity rose in all seven counties, the biggest gains were found in Kendall (up 18 percent), Lake (up 20 percent), McHenry (up 19 percent) and Will (up 14 percent). Sales were up 9 percent in DuPage, 8 percent in Cook and 7 percent in Kane, as well as 9 percent in Chicago.

Home prices were also up in all counties, but the pattern was somewhat different. The top gainers were Kane, up 21 percent, and Kendall, up 11 percent, with Cook and Will each up 10 percent. The median price also rose 7 percent in DuPage and 6 percent in Lake and McHenry. In Chicago the increase was 5 percent

Detached Homes

Across the metro area, sales of detached homes totaled 6,354 units, up 10 percent in April from their year-earlier level. The median sales price rose to $244,575, also a 10 percent gain. Average market time was 112 days, four days less than April 2015.

Sales of detached homes rose sharply in a number of the collar counties, but gained just 5 percent in Cook County and 3 percent in Chicago. Sales rose 23 percent in Lake, 26 percent in McHenry, 17 percent in Kendall and 12 percent in DuPage and Will. Kane County saw sales climb 5 percent.

As for the median sales price, Chicago led the way with a gain of 25 percent, and the median price rose 15 percent in all of Cook County. Other double-digit increases were 15 percent in Kane County, 13 percent in McHenry, 11 percent in Will and 10 percent in Kendall. The median price gained 5 percent in DuPage and less than 1 percent in Lake.

Attached Homes


In the attached-home category, April sales in the metro area climbed 10 percent to 3,771 units. The median sales price also advanced 10 percent to $204,000. Average market time was 79 days, compared to 85 days a year earlier.

The median sales price rose in all seven counties, while unit sales rose in six.

The median climbed 22 percent in Kane, 14 percent in Lake and Will, 7 percent in McHenry, 6 percent in Cook and 4 percent in DuPage and Kendall.

Sales activity was led by 23 percent increases in Will and Kendall. Other gainers were Kane, up 14 percent; Cook, up 11 percent; Lake, up 9 percent; and DuPage, up 3 percent. Sales fell 9 percent in McHenry. Sales in Chicago increased 13 percent and the median managed a 0.6 percent gain.

RE/MAX agents consistently rank among the most productive in the industry. In 2015, RE/MAX Northern Illinois agents averaged 18 transaction sides. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 106 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 104,000+ sales associates in 90+ nations.

Tuesday, May 10, 2016

RE/MAX Edge Makes Short Move to New North Lake View Location

Mark Zipperer
CHICAGO, May 10, 2016 – RE/MAX Edge recently made a short move to a new and larger office less than a block from its long-time location in the city’s North Lake View community. The new office at 3916 N. Broadway occupies a 3,800 square-foot space that accommodates 25 brokers and their support staff.

The brokerage moved from its former space in the 3800 block of North Broadway on March 31 because the building in which it was located is being redeveloped and enlarged, according to Mark Zipperer, broker/owner of RE/MAX Edge, which he established in 2005.

“We wanted to stay in this immediate area because so much is going on here right now in terms of new development,” he said. “It’s an exciting environment for anyone in our business. It took a few weeks and lot of work, but we’re settled in now,” said Zipperer, who reports that he lost 10 pounds in the process without ever going to the gym and just in time for beach season.

The new space incorporates many of the recent trends in office design. It includes 19 traditional private offices, so-called “hoteling” space for brokers who work primarily from a home office, and a blend of conference rooms, several being full sized while others are what Zipperer calls “huddle spaces” designed for two or three people to have private conversations. In addition, there’s a nap room in the basement, with couches and a TV where brokers can relax when they have down time without needing to leave the office.

Several grand opening events are being planned for late June.

RE/MAX agents consistently rank among the most productive in the industry. In 2015, RE/MAX Northern Illinois agents averaged 18 transaction sides. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 106 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 104,000+ sales associates in 90+ nations.

Highly Experienced Local Real Estate Broker Amy Pecoraro Takes the Reins at RE/MAX Achievers in Lombard

Amy Pecoraro
CHICAGO, May 10, 2016 – RE/MAX Achievers in Lombard, Ill., has been acquired by Amy and Michael Pecoraro. The office, located at 123 W. St. Charles Road, has long been a fixture in Lombard, and so has Amy, its new managing broker. She is a respected and successful local real estate broker with 24 years of professional experience who has been part of the community for her entire life.

Pecoraro grew up in Lombard and settled there with Mike, who was from nearby Villa Park, Ill., as they raised their five children.

Her decision to move to RE/MAX developed after Coldwell Banker closed its Lombard office.

“I wanted to stay in Lombard, and when the opportunity arose to acquire RE/MAX Achievers, it seemed like the obvious choice,” she said. “The RE/MAX brand is highly respected in this market, and it will allow me to create the kind of real estate brokerage that both Realtors® and their clients will find conducive.”

Pecoraro has brought to RE/MAX Achievers not only her own sales team, which now includes seven other agents and her personal assistant, but also several other of her former Coldwell Banker colleagues. As a result, RE/MAX Achievers quickly grew from 14 to 23 affiliated brokers, and Pecoraro expects that number to increase further in the weeks ahead.

Her objective is to pursue two broad goals. The first is to give RE/MAX Achievers the right atmosphere.

“Lombard is in many ways a small town, and I want this office to deliver caring, personalized service so that is has that small-town feel,” Pecoraro said.

Her other goal is to make sure that from a business perspective, RE/MAX Achievers offers an industry-leading working environment in four key areas.

“We want to offer our brokers the best in market materials and support, the most competitive pay scale, top quality training and a profit sharing plan to help secure their future,” Pecoraro explained.

She noted that RE/MAX Achievers has a proud tradition in Lombard, and she looks forward to continuing it, especially its support for charitable efforts locally and nationally, including Children’s Miracle Network and the Susan B. Komen Foundation.

Pecoraro admits that she’s a bit surprised to find herself leading a real estate brokerage.

“My goal when I was younger was to be a math teacher, and I started selling real estate as strictly a part-time job to help our family finances, but I’ve really come to enjoy the work and the people, and now with RE/MAX Achievers I’ll have the opportunity to take that involvement to a new level in a community to which I feel very connected,” said Pecoraro. “It’s an exciting opportunity, and I’m thrilled to have it.”

Mike Pecoraro, who works for United Airlines, is her partner but does not plan to be involved in the day-to-day operations of RE/MAX Achievers.

A grand reopening event is planned from 10 a.m. to 2 p.m. on Saturday, May 14, in the office parking lot. The public is welcome, and the event will offer food and refreshments, games and fun giveaways. For further information, call RE/MAX Achievers at 630-678-0300.

RE/MAX agents consistently rank among the most productive in the industry. In 2015, RE/MAX Northern Illinois agents averaged 18 transaction sides. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 106 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 104,000+ sales associates in 90+ nations.

Monday, May 9, 2016

27 RE/MAX Firms in Northern Illinois Ranked Among Nation’s Most Successful Residential Brokerages in 2015 by REAL Trends

CHICAGO, May 5, 2016 – Twenty-seven RE/MAX brokerage firms operating 60 offices in northern Illinois were recognized by REAL Trends magazine in its annual analysis of the nation’s largest residential real estate firms. The REAL Trends 500 highlights the nation’s most productive residential real estate firms based on closed transaction sides and closed sales volume.

Named to the top 50 firms in the nation in terms of percentage gain in both closed transactions and closed sales volume over the last year and the last five years was RE/MAX 10, with two offices in Chicago and single offices in New Lenox, Oak Lawn and Palos Park, Ill. In the last year, RE/MAX 10 recorded a 69 percent increase in transaction sides and 92 percent gain in sales volume. Over the most recent five years, the firm saw its transaction sides grow by 196 percent and it sales volume rise by 324 percent.

Firms in the RE/MAX Northern Illinois real estate network that placed in the Top 500 are as follows:

RE/MAX Suburban, with offices in Arlington Heights, Buffalo Grove, Glen Ellyn, Libertyville, Mt. Prospect, Schaumburg and Wheaton, ranked 173rd in closed transaction sides and 214th in closed sales volume.

RE/MAX 10 ranked 247th in closed transaction sides and 411th in closed sales volume.

RE/MAX Synergy, with offices in Flossmoor, Frankfort and Orland Park, Ill., ranked 380th in closed transaction sides. The brokerage recently opened a new office in downtown Chicago.

RE/MAX Unlimited Northwest, with offices in Algonquin, Bartlett, Crystal Lake, Huntley, Lake Zurich and Palatine, ranked 451st in closed transaction sides.

Brokerage firms that closed at least 500 transaction sides but were not among the Top 500 are named to the REAL Trends Up and Comers list. An additional 23 RE/MAX Northern Illinois firms qualified. They are:

RE/MAX of Naperville – Naperville; RE/MAX Enterprises – Downers Grove

RE/MAX Showcase – Gurnee, Long Grove and Waukegan

RE/MAX Action – Lisle

RE/MAX All Pro – Bloomingdale and Sugar Grove; RE/MAX Great American North – St. Charles

RE/MAX Professionals Select – Naperville

RE/MAX City – Chicago

RE/MAX Excels – Geneva

RE/MAX Ultimate Professionals – Plainfield and Shorewood

RE/MAX of Barrington – Barrington; RE/MAX NOW – Lake Barrington

RE/MAX Central – Roselle

RE/MAX Vision 212 – Chicago

RE/MAX Horizon – Elgin

RE/MAX 2000 – Crete

RE/MAX Plaza – McHenry, Richmond, Wauconda and Woodstock

RE/MAX Advantage Realty – Antioch

RE/MAX Partners – Berwyn

RE/MAX Sauk Valley – Sterling and Dixon

RE/MAX Destiny – Elk Grove Village

RE/MAX Professionals – Bolingbrook and Burr Ridge

RE/MAX Property Source – Belvidere and Rockford; RE/MAX Hub City, Rochelle

RE/MAX At Home – Rolling Meadows

RE/MAX in the Village, Realtors® – Oak Park

RE/MAX Top Performers – Lake Bluff

Based on data in the 2016 REAL Trends 500, RE/MAX agents at brokerages included in the survey averaged 17.3 transaction sides each in 2015. That is significantly more than agents with other national franchise brands and more than double the 7.9 transaction sides averaged by agents at all 1,605 brokerages in the survey.

RE/MAX agents consistently rank among the most productive in the industry. In 2015, RE/MAX Northern Illinois agents averaged 18 transaction sides. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 106 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 104,000+ sales associates in 90+ nations.

Friday, May 6, 2016

RE/MAX Northern Illinois Announces New Innovative Real Estate Search Platform


We are pleased to announce the latest evolution in our technology program, a redesigned, fully-responsive real estate search platform. This new interface is available now on illinoisproperty.com as well as all regional office and agent websites.

“Great attention was given to the design and ergonomics to help ensure the best experience for the home shopper that is competitive with the leading sites on the market,” said Casey Reagan, Chief Technology Officer for the RE/MAX Northern Illinois network.

This beautifully designed new search interface features several new options that create a streamlined, clean experience for users across any device.


New Agent and Office Website Templates
In addition to the new search platform, there is also a lineup of fully responsive website templates available for agents and offices to utilize. These new designs work seamlessly on any device they are accessed on, providing a clean and familiar experience to users across desktop, tablet and mobile devices with the new search interface.





 

New Polygon Search
Know your neighborhood and subdivision better. Search by your own rules with the new Polygon Search. Create your own custom boundaries bringing a hyper-focused approach to every home search.






Extensive Search Options
Through this new platform, you can search properties by familiar parameters including city, zip code and neighborhood. In addition to these options, search current listings side by side with previously sold and pending properties to get a full perspective of your search area. 

  


School Attendance Boundary Search
In addition to all of the different ways you can customize a search, you can now search by school attendance boundaries.  This highly sought after feature positions illinoisproperty.com, the agent and office websites among industry-leading sites.  Impress your existing clients by setting them up saved search alerts for the schools that matter to them.  Attract new clients by promoting this powerful feature available on your website and mobile app.  






Multiple Options for Viewing Search Results
This new interface allows you to view search results three different ways: map view, gallery view or a hybrid of both. These options put you in control of the display searching through the full MLS of homes that fit your search criteria.






New LDP Listing Overlay
Once a listing is selected, property information appears as an overlay to the search as opposed to opening in a new window. This new, clean layout helps minimize page loads when searching and guarantees your search results will remain in place once you finish learning about a given property.





Touch-Friendly Interface
Swipe through photo galleries with ease. The touch-friendly design and controls make it easy for users to find all of the information they are looking for in their home search, with requesting more information, scheduling a showing or saving a listing a tap of a finger away.





New App Interstitial Option
Featured in office and agent websites is a new interstitial promoting your branded mobile app. Thisnew option gives you two interstitials to choose from: the new SEO friendly banner (left) which appears at the top of your website or the full overlay interstitial (right) which covers the entire website upon visiting. These interstitials provide an integrated marketing approach, the depth of technology you can provide your clients through both website and app services.




The launch of this new search platform for all regional websites is a major accomplishment in our road map to create the best home search experience available in the marketplace. Be on the lookout for even more announcements in the near future that will enhance this experience in searching for important data on schools, commute times and more.