Park Ridge Real Estate Market Info

0

Posted by Park Ridge Real Estate | Posted in Market Stats | Posted on 14-04-2010

Tags: , , ,

Average price per square foot for Park Ridge IL was $220, a decrease of 17.6% compared to the same period last year. The median sales price for homes in Park Ridge IL for Jan 10 to Mar 10 was $320,000 based on 88 home sales. Compared to the same period one year ago, the median home sales price decreased 10.1%, or $36,000, and the number of home sales increased 72.5%.

Image representing Trulia as depicted in Crunc...
Image via CrunchBase

There are currently 402 resale and new homes in Park Ridge on Trulia, including 146 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Park Ridge IL was $507,826 for the week ending Apr 07, which represents an increase of 1.1%, or $5,481, compared to the prior week.

Obviously home sales are way up and pricing is still extremely attractive. 

Reblog this post [with Zemanta]

Jingle Mail – And More New Terms

0

Posted by Park Ridge Real Estate | Posted in Park Ridge | Posted on 22-01-2010

Tags: , , , , , , ,

 

PASADENA, CA - JUNE 15:  A realtor sign advert...
Image by Getty Images via Daylife

I was doing some research on the HARP program and other mortgage plans that have been introduced and I stumbled onto a message board for people that are purposely walking away from their mortgages and mailing the keys to the lender, thus Jingle Mail.

Researching (sometimes called surfing) I found more on “Planned Foreclosures” in other parts of the country that have been affected the most by the housing markets.  I have to say, the argument is a good one, albeit one with many repercussions, mostly negative.

Without a doubt, this affects not just that homeowner, it affects the entire neighborhood. I’m sure most would agree that our lives have been affected by this; bad mortgages, overzealous lenders and fictional applications for homes. On the other hand, it is impossible to have 10% – 12% appreciation annually on a home, so something had to give.

We’re in the midst of pulling out of the worst of this, thankfully Park Ridge hasn’t been hit as hard as other parts of the country.

Reblog this post [with Zemanta]