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Just the facts..
What a wild ride we experienced in August. With the debt ceiling crisis, the S&P downgrade of the US credit rating, riots in the UK, European economic uncertainties, and then the volatile stock market fluctuations -- not to mention the earthquake and hurricane on the East Coast! Adding to these global events, we had summer vacations, getting ready for the new school year, and all the other rituals for the last days of summer. It's a wonder any houses got sold. So, how was the market in August?
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The North Shore's Highest Sales in August
Lake Forest - 500 Stable Lane
Original List - $5,995,000
List - $3,995,000
Sale - $3,500,000 (88% of asking)
Total Days on Market - 1429
Days on Market at Final List Price - 44
Winnetka - 16 Old Green Bay Road
List - $3,575,000
Sale - $3,400,000 (95% of asking)
Total Days on Market - 35
List - $3,475,000
Sale - $3,275,000 (94% of asking price)
Total Days on Market - 257
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Why do People Actually Buy a Home?
It seems that every time we talk about real estate today the conversation immediately goes to the financial aspects of buying a home. Where are prices headed? Where are interest rates headed? Should I wait to try and get a 'better buy'? Should I wait until I can get a 'steal'?
The odd thing about all these questions is...
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