Single Family Homes
New Listings
665 ORCHARD AVE Deerfield 3 Bed 2 Bath $449,000 2/25/2008
962 CENTRAL AVE Deerfield 5 Bed 3.1 Bath $989,000 2/26/2008
1116 Linden Deerfield 4 Bed 4.1 Bath $1,049,000 2/25/2008
Under Contract
1030 springfield AVE Deerfield 3 Bed 2 Bath $395,000 2/25/2008
1363 Woodland DR Deerfield 5 Bed 5.2 Bath $1,949,000 2/27/2008
Price Changes
1639 VILLAGE GREEN CT Deerfield 4 Bed 2.1 Bath $549,900 $549,000 2/27/2008
1444 GREENWOOD AVE Deerfield 3 Bed 1.1 Bath $595,000 $635,000 2/25/2008
1000 North AVE Deerfield 4 Bed 2.1 Bath $759,000 $735,000 2/26/2008
262 BRISTOL CT Deerfield 4 Bed 2.1 Bath $839,000 $810,000 2/27/2008
622 Appletree CT Deerfield 4 Bed 2.1 Bath $869,000 $859,000 2/23/2008
Pending
916 Forest AVE Deerfield 2 Bed 1 Bath $359,900 2/23/2008
Attached Homes
New Listings
960 Inverrary LN 960 2 Bed 1.1 Bath $189,000 2/25/2008
546 South Commons CT 506 2 Bed 2.1 Bath $459,900 2/27/2008
501 KELBURN 501 3 Bed 2.1 Bath $495,000 2/25/2008
709 Central AVE 709 3 Bed 3.1 Bath $599,900 2/24/2008
Under Contract
821 Fountain View DR 821 3 Bed 2.1 Bath $699,000 2/26/2008
Price Changes
714 Inverrary LN 0 2 Bed 1.1 Bath $195,000 $189,000 2/26/2008
754 Inverrary LN 0 2 Bed 1.1 Bath $189,650 $189,600 2/25/2008
1156 OSTERMAN AVE 56C 1 Bed 1 Bath $194,900 $189,900 2/24/2008
441 Elm 3B 2 Bed 2.1 Bath $214,900 $205,000 2/27/2008
427 GROUSE 427 4 Bed 2.1 Bath $255,000 $246,000 2/25/2008
394 MILFORD RD - 3 Bed 2.1 Bath $509,000 $495,000 2/24/2008
347 Milford RD 347 3 Bed 2.1 Bath $509,000 $499,000 2/25/2008
Closed
447 PARTRIDGE LN NA 3 Bed 2.1 Bath $285,900 $280,000 2/25/2008
Eric P. Egeland
RE/MAX ADVANCED
847.337.7090
DeerfieldsAgent.com
Thursday, February 28, 2008
Monday, February 25, 2008
Weekly Mortgage Recap
The interest-rate party was fun while it lasted, but it appears to be over – at least for awhile. Depending who you ask and when you asked him, the 30-year fixed-rate prime conforming mortgage spiked as much as 41 basis points (according to Bankrate), or as little as 32 basis points (according to Freddie Mac). Either way, the 30-year benchmark is well above levels this time last week, and even this time last year, exceeding 6.4% in some markets.
The punchbowl was swiftly removed because of a rising threat of inflation. The Labor Department reported that consumer prices jumped 0.4% in January and are up 4.3% in the past 12 months, nearing a 16-year high. Even stripping out sharply rising food and energy costs, prices rose 0.3%.
The same day inflation reared its ugly head, the Federal Reserve disclosed that it reduced its forecast for economic growth this year to between 1.3% to 2%, half a percentage point below the level of its previous forecast offered in October. Fed officials blamed the decelerating outlook on slumping housing prices, tighter lending standards and higher oil prices.
Somewhat remarkably, housing eschewed its familiar role as red-headed economic stepchild. For the second straight month, homebuilder confidence rose, according to the National Association of Home Builders and Wells Fargo index of builder sentiment. The index increased to 20 in February, up from 19 in January. Disaggregating the index, sentiment increased to 24 in the Northeast, 15 in the West, 24 in the South and remained at 16 in the Midwest.
Perhaps the increased confidence resulted from an unexpected increase in new home sales, which inched ahead 0.8% to an annual rate of 1.01 million homes in January, and the fact that traffic in model homes picked up in January, according to the NAHB.
Eric P. Egeland
RE/MAX ADVANCED (Deerfield)
847.337.7090
DeerfieldsAgent.com
Friday, February 22, 2008
Feb. 11th-22nd
Deerfield Realty
Single Family Homes
Under Contract
849 Appletree AVE 3 Bed 2 Bath $425,000 2/21/2008
1126 Wayne AVE 3 Bed 2.1 Bath $449,000 2/14/2008
667 CARRIAGE WAY 4 Bed 2.1 Bath $539,900 2/12/2008
30 ELLENDALE RD 4 Bed 2.1 Bath $649,000 2/15/2008
830 CEDAR TER 4 Bed 4.1 Bath $959,900 2/14/2008
52 Buckingham CT 5 Bed 4.1 Bath $998,000 2/15/2008
23442 WILDWOOD AVE 5 Bed 6.1 Bath $1,239,900 2/12/2008
1524 Crabtree LN 5 Bed 5.1 Bath $1,495,000 2/19/2008
1611 BERKELEY CT 4 Bed 4.1 Bath $1,595,000 2/18/2008
916 Forest AVE 2 Bed 1 Bath $359,900 2/11/2008
New Listings
1062 CENTRAL Deerfield 3 Bed 1 Bath $369,000 2/21/2008
20901 Catalpa ST Deerfield 3 Bed 2 Bath $374,900 2/22/2008
1121 CENTRAL AVE Deerfield 3 Bed 1.1 Bath $395,000 2/19/2008
680 Wilmot RD Deerfield 4 Bed 2.1 Bath $649,900 2/18/2008
1224 KENTON RD Deerfield 4 Bed 3.1 Bath $1,299,000 2/20/2008
1250 Linden AVE Deerfield 4 Bed 3.1 Bath $1,350,000 2/22/2008
Price Changes
806 Appletree LN Deerfield 3 Bed 1.1 Bath $397,159 $389,900 2/18/2008
1248 Hackberry RD Deerfield 4 Bed 2.1 Bath $489,000 $445,000 2/21/2008
1130 RAGO AVE Deerfield 3 Bed 2 Bath $549,000 $524,000 2/20/2008
810 Brand LN Deerfield 3 Bed 3 Bath $574,500 $545,000 2/18/2008
75 E MULBERRY EAST RD Deerfield 4 Bed 2.1 Bath $579,000 $549,000 2/18/2008
635 AMBLESIDE DR Deerfield 5 Bed 3.1 Bath $724,900 $699,900 2/21/2008
1128 Prairie AVE Deerfield 3 Bed 4.1 Bath $849,900 $797,900 2/22/2008
1130 OSTERMAN AVE Deerfield 4 Bed 4.1 Bath $884,000 $884,999 2/22/2008
924 FOREST AVENUE Deerfield 4 Bed 3.1 Bath $939,000 $899,000 2/21/2008
195 River ST Deerfield 5 Bed 4.1 Bath $1,270,000 $1,290,000 2/19/2008
925 Kenton RD Deerfield 5 Bed 5.1 Bath $1,399,000 $1,299,000 2/18/2008
1327 Somerset ST Deerfield 5 Bed 4.1 Bath $1,320,000 $1,330,000 2/19/2008
1050 Osterman AVE Deerfield 5 Bed 6.1 Bath $1,449,000 $1,449,999 2/22/2008
Closed
1730 OVERLAND TRL Deerfield 4 Bed 2.1 Bath $559,900 $515,000 2/15/2008
Attached Homes
Under Contract
850 INVERRARY LN 850 Deerfield 3 Bed 1 Bath $204,900 2/18/2008
1110 INVERRARY LN 1110 Deerfield 3 Bed 2 Bath $239,995 2/22/2008
666 MALLARD LN 0 Deerfield 2 Bed 3.1 Bath $329,000 2/17/2008
New Listing
NONE
Price Changes
1032 INVERRARY LN 1032 Deerfield 2 Bed 1 Bath $176,000 $175,000 2/19/2008
754 Inverrary LN 0 Deerfield 2 Bed 1.1 Bath $189,700 $189,650 2/18/2008
459 ELM ST 1B Deerfield 2 Bed 2.1 Bath $225,000 $217,000 2/22/2008
619 MARTIN LN 619 Deerfield 3 Bed 2.1 Bath $289,900 $279,900 2/22/2008
382 Kelburn 322 Deerfield 2 Bed 2 Bath $299,000 $289,900 2/21/2008
Closed
885 FOUNTAIN VIEW DR 885 Deerfield 3 Bed 2.1 Bath $709,900 $693,000 2/15/2008
Eric P. Egeland
DeerfieldsAgent.com
Single Family Homes
Under Contract
849 Appletree AVE 3 Bed 2 Bath $425,000 2/21/2008
1126 Wayne AVE 3 Bed 2.1 Bath $449,000 2/14/2008
667 CARRIAGE WAY 4 Bed 2.1 Bath $539,900 2/12/2008
30 ELLENDALE RD 4 Bed 2.1 Bath $649,000 2/15/2008
830 CEDAR TER 4 Bed 4.1 Bath $959,900 2/14/2008
52 Buckingham CT 5 Bed 4.1 Bath $998,000 2/15/2008
23442 WILDWOOD AVE 5 Bed 6.1 Bath $1,239,900 2/12/2008
1524 Crabtree LN 5 Bed 5.1 Bath $1,495,000 2/19/2008
1611 BERKELEY CT 4 Bed 4.1 Bath $1,595,000 2/18/2008
916 Forest AVE 2 Bed 1 Bath $359,900 2/11/2008
New Listings
1062 CENTRAL Deerfield 3 Bed 1 Bath $369,000 2/21/2008
20901 Catalpa ST Deerfield 3 Bed 2 Bath $374,900 2/22/2008
1121 CENTRAL AVE Deerfield 3 Bed 1.1 Bath $395,000 2/19/2008
680 Wilmot RD Deerfield 4 Bed 2.1 Bath $649,900 2/18/2008
1224 KENTON RD Deerfield 4 Bed 3.1 Bath $1,299,000 2/20/2008
1250 Linden AVE Deerfield 4 Bed 3.1 Bath $1,350,000 2/22/2008
Price Changes
806 Appletree LN Deerfield 3 Bed 1.1 Bath $397,159 $389,900 2/18/2008
1248 Hackberry RD Deerfield 4 Bed 2.1 Bath $489,000 $445,000 2/21/2008
1130 RAGO AVE Deerfield 3 Bed 2 Bath $549,000 $524,000 2/20/2008
810 Brand LN Deerfield 3 Bed 3 Bath $574,500 $545,000 2/18/2008
75 E MULBERRY EAST RD Deerfield 4 Bed 2.1 Bath $579,000 $549,000 2/18/2008
635 AMBLESIDE DR Deerfield 5 Bed 3.1 Bath $724,900 $699,900 2/21/2008
1128 Prairie AVE Deerfield 3 Bed 4.1 Bath $849,900 $797,900 2/22/2008
1130 OSTERMAN AVE Deerfield 4 Bed 4.1 Bath $884,000 $884,999 2/22/2008
924 FOREST AVENUE Deerfield 4 Bed 3.1 Bath $939,000 $899,000 2/21/2008
195 River ST Deerfield 5 Bed 4.1 Bath $1,270,000 $1,290,000 2/19/2008
925 Kenton RD Deerfield 5 Bed 5.1 Bath $1,399,000 $1,299,000 2/18/2008
1327 Somerset ST Deerfield 5 Bed 4.1 Bath $1,320,000 $1,330,000 2/19/2008
1050 Osterman AVE Deerfield 5 Bed 6.1 Bath $1,449,000 $1,449,999 2/22/2008
Closed
1730 OVERLAND TRL Deerfield 4 Bed 2.1 Bath $559,900 $515,000 2/15/2008
Attached Homes
Under Contract
850 INVERRARY LN 850 Deerfield 3 Bed 1 Bath $204,900 2/18/2008
1110 INVERRARY LN 1110 Deerfield 3 Bed 2 Bath $239,995 2/22/2008
666 MALLARD LN 0 Deerfield 2 Bed 3.1 Bath $329,000 2/17/2008
New Listing
NONE
Price Changes
1032 INVERRARY LN 1032 Deerfield 2 Bed 1 Bath $176,000 $175,000 2/19/2008
754 Inverrary LN 0 Deerfield 2 Bed 1.1 Bath $189,700 $189,650 2/18/2008
459 ELM ST 1B Deerfield 2 Bed 2.1 Bath $225,000 $217,000 2/22/2008
619 MARTIN LN 619 Deerfield 3 Bed 2.1 Bath $289,900 $279,900 2/22/2008
382 Kelburn 322 Deerfield 2 Bed 2 Bath $299,000 $289,900 2/21/2008
Closed
885 FOUNTAIN VIEW DR 885 Deerfield 3 Bed 2.1 Bath $709,900 $693,000 2/15/2008
Eric P. Egeland
DeerfieldsAgent.com
Sunday, February 17, 2008
Weekly Economic Recap
Scheduled economic news was scarce last week; actual economic news was another matter. Not surprisingly, the mortgage and housing markets garnered most of the headlines on what was reported.
To state the obvious, the economy's fate still hangs on the value of home prices. On that front, the news was discouraging. According to Zillow.com, a real estate data service, 39% of people who purchased a home two years ago owe more than they own. Adding insult to injury, Fannie Mae reported that it expects home prices will decline 4.5% this year and 2.6% in 2009.
Fortunately, more help is on the way. Congress passed an economic stimulus plan that raised the maximum loan sizes for some conforming and Federal Housing Administration-insured mortgages. The new conforming limit will vary by metropolitan area. In some places it will remain $417,000; in pricier areas, like San Francisco, it will rise to $729,750. Most of the country though will fall between these bookends.
Project Lifeline, a federal government and mortgage-servicer sponsored program for people on the verge of losing their homes, offers additional hope. Project Lifeline is unique in that unlike previous government programs, the benefits won't be confined to borrowers with adjustable rate mortgages. On the other hand, it will exclude anyone who is currently bankrupt, who hasn't missed more than three months of payments, or who is less than 30 days away from foreclosure. It will also exclude vacant or investment properties.
Eric P. Egeland
RE/MAX ADANCED (Deerfield)
847.337.7090
DeerfieldsAgent.com
To state the obvious, the economy's fate still hangs on the value of home prices. On that front, the news was discouraging. According to Zillow.com, a real estate data service, 39% of people who purchased a home two years ago owe more than they own. Adding insult to injury, Fannie Mae reported that it expects home prices will decline 4.5% this year and 2.6% in 2009.
Fortunately, more help is on the way. Congress passed an economic stimulus plan that raised the maximum loan sizes for some conforming and Federal Housing Administration-insured mortgages. The new conforming limit will vary by metropolitan area. In some places it will remain $417,000; in pricier areas, like San Francisco, it will rise to $729,750. Most of the country though will fall between these bookends.
Project Lifeline, a federal government and mortgage-servicer sponsored program for people on the verge of losing their homes, offers additional hope. Project Lifeline is unique in that unlike previous government programs, the benefits won't be confined to borrowers with adjustable rate mortgages. On the other hand, it will exclude anyone who is currently bankrupt, who hasn't missed more than three months of payments, or who is less than 30 days away from foreclosure. It will also exclude vacant or investment properties.
Eric P. Egeland
RE/MAX ADANCED (Deerfield)
847.337.7090
DeerfieldsAgent.com
Monday, February 11, 2008
Deerfield Feb. 8th-10th
Detached Homes
New Listings
806 Appletree LN 3 Bed 1.1 Bath $397,159
1442 Hackberry RD 4 Bed 2.1 Bath $519,000
1170 HALF DAY ROAD RD 4 Bed 3 Bath $549,900
1057 CENTRAL AVE 5 Bed 4.1 Bath $1,299,900
909 WESTCLIFF AVE 4 Bed 4.3 Bath $1,499,000
1218 Blackthorn LN 4 Bed 4.2 Bath $1,599,000
Price Changes
1130 RAGO AVE 3 Bed 2 Baths $539,000 to $549,000
1044 Wayne 4 Bed 2.1 Baths $575,000 to $549,900
885 North AVE 5 Bed 3.1 Baths $1,020,000 to $999,000
Attached Housing
New Listings
508 Inverrary LN 3 Bed 1.1 Baths $228,000
348 INVERRARY LN 3 Bed 2 Baths $234,900
Contingent
1228 Inverrary LN 2 Bed 1.1 Bath $194,900
Closed
437 Elm ST #4J 2 Bed 2.1 Bath $209,000
Eric P. Egeland
RE/MAX Advanced (Deerfield)
847.337.7090
DeerfieldHomesOnline.com
New Listings
806 Appletree LN 3 Bed 1.1 Bath $397,159
1442 Hackberry RD 4 Bed 2.1 Bath $519,000
1170 HALF DAY ROAD RD 4 Bed 3 Bath $549,900
1057 CENTRAL AVE 5 Bed 4.1 Bath $1,299,900
909 WESTCLIFF AVE 4 Bed 4.3 Bath $1,499,000
1218 Blackthorn LN 4 Bed 4.2 Bath $1,599,000
Price Changes
1130 RAGO AVE 3 Bed 2 Baths $539,000 to $549,000
1044 Wayne 4 Bed 2.1 Baths $575,000 to $549,900
885 North AVE 5 Bed 3.1 Baths $1,020,000 to $999,000
Attached Housing
New Listings
508 Inverrary LN 3 Bed 1.1 Baths $228,000
348 INVERRARY LN 3 Bed 2 Baths $234,900
Contingent
1228 Inverrary LN 2 Bed 1.1 Bath $194,900
Closed
437 Elm ST #4J 2 Bed 2.1 Bath $209,000
Eric P. Egeland
RE/MAX Advanced (Deerfield)
847.337.7090
DeerfieldHomesOnline.com
Weekly Economic Recap
For all the chatter about impending economic doom, it's amazing how the economy keeps plugging along. To wit, the Commerce Department reported that orders for manufactured goods rose 2.3% in December, following a revised 1.7% increase in November. The report is evidence that the putative economic slowdown has yet to hit America's producers of durable products.
All of America's producers – durable and otherwise – are producing what they produce more efficiently, as well. Worker productivity grew at a 1.8% annual rate in the final quarter of 2007, a faster-than-expected pace, which suggests productivity remains healthy and labor costs remain tame.
The productivity report provides the Federal Reserve with more wiggle room to continue lowering interest rates, if needed. And the Fed just might need to. The NAR's pending sales index posted at 84.9% in December, 24.2% below the 113.3 posted in December 2006. The NAR projects existing-home sales at 5.38 million this year and 5.60 million in 2009, with existing-home prices falling 1.2% to a median of $216,300 for all of 2008 before climbing 3.2% to $223,200 in 2009.
NAR chief economist Lawrence Yun predicts sales activity will remain soft through the first half of the year, but he hedges his prognostication by saying that the market could improve more quickly if the higher conforming loan limits are implemented sooner.
Eric P. Egeland
RE/MAX Advanced (Deerfield)
DeerfieldsAgent.com
847-337-7090
All of America's producers – durable and otherwise – are producing what they produce more efficiently, as well. Worker productivity grew at a 1.8% annual rate in the final quarter of 2007, a faster-than-expected pace, which suggests productivity remains healthy and labor costs remain tame.
The productivity report provides the Federal Reserve with more wiggle room to continue lowering interest rates, if needed. And the Fed just might need to. The NAR's pending sales index posted at 84.9% in December, 24.2% below the 113.3 posted in December 2006. The NAR projects existing-home sales at 5.38 million this year and 5.60 million in 2009, with existing-home prices falling 1.2% to a median of $216,300 for all of 2008 before climbing 3.2% to $223,200 in 2009.
NAR chief economist Lawrence Yun predicts sales activity will remain soft through the first half of the year, but he hedges his prognostication by saying that the market could improve more quickly if the higher conforming loan limits are implemented sooner.
Eric P. Egeland
RE/MAX Advanced (Deerfield)
DeerfieldsAgent.com
847-337-7090
Thursday, February 7, 2008
Deerfield Recap Jan. 27th-Feb. 7th
Single Family Homes
New Listings
916 Forest Ave. 2bed 1bath $359,900
1200 Kenton Rd. 3bed 2.5bath $479,000
4 Pine St. 5bed 2.5bath $515,000
1255 Montgomery Dr. 4bed 4.5bath $1,350,000
775 Summit Dr. 5bed 5full baths 2half baths $2,295,000
Under Contract
1030 Springfield 3bed 2bath $395,000
433 Woodvale Ave. 3bed 2bath $499,000
927 Westcliff Ln. 5bed 5.5bath $1,900,000
1325 Stratford Rd. 4bed 4.5bath $1,279,900
Price Reductions
6 Price Reductions
Closed
801 Juneway Ave 4bed 3bath $410,000
1510 Gordon Ter. 5bed 3.5bath $696,000
Attached Homes
New Listings
None
Under Contract
1177 Waukegan Private Rd. 1bed 1.5bath $199,900
418 Grouse 3bed 2.5bath $299,000
Price Reduction
5 Price Reductions
Closed
378 Goshawk Ln. 2bed 2.5bath $161,000
308 Inverarry Ln. 3bed 1bath $190,000
431 N. Kelburn Rd #311 1bed 1bath $207,000
Eric P. Egeland
Re/Max Advanced (Deerfield)
847.337.7090
DeerfieldsAgent.com
New Listings
916 Forest Ave. 2bed 1bath $359,900
1200 Kenton Rd. 3bed 2.5bath $479,000
4 Pine St. 5bed 2.5bath $515,000
1255 Montgomery Dr. 4bed 4.5bath $1,350,000
775 Summit Dr. 5bed 5full baths 2half baths $2,295,000
Under Contract
1030 Springfield 3bed 2bath $395,000
433 Woodvale Ave. 3bed 2bath $499,000
927 Westcliff Ln. 5bed 5.5bath $1,900,000
1325 Stratford Rd. 4bed 4.5bath $1,279,900
Price Reductions
6 Price Reductions
Closed
801 Juneway Ave 4bed 3bath $410,000
1510 Gordon Ter. 5bed 3.5bath $696,000
Attached Homes
New Listings
None
Under Contract
1177 Waukegan Private Rd. 1bed 1.5bath $199,900
418 Grouse 3bed 2.5bath $299,000
Price Reduction
5 Price Reductions
Closed
378 Goshawk Ln. 2bed 2.5bath $161,000
308 Inverarry Ln. 3bed 1bath $190,000
431 N. Kelburn Rd #311 1bed 1bath $207,000
Eric P. Egeland
Re/Max Advanced (Deerfield)
847.337.7090
DeerfieldsAgent.com
Monday, February 4, 2008
Economy Recap
The action came fast and furious last week, which was to be expected given the surfeit of news and data. Leading the charge was the Federal Reserve, which did what most pundits expected by lowering the fed funds rate another 50 basis points to 3.0%.
Fear of recession is the primary reason the Fed has been slashing the fed funds rate over the past two weeks, and the fear is well-grounded: Gross domestic product grew at a 0.6% annual rate in the fourth quarter of 2007, a palpable slowdown from the 4.9% pace in the previous quarter. The slowdown provided the Fed with the fodder for its aggressive response, which had been criticized by some observers as an overreaction to volatile markets.
Additional support for aggressive action was supplied by Friday's employment report, which showed that non-farm payrolls fell 17,000 in January, the first drop since August 2003. Gains in health care, retail trade and leisure were offset by declines in manufacturing, construction and financial services.
Of course declines in manufacturing, construction and financial services are tied to declines in new-home sales, which decreased 4.7% to an annual pace of 604,000 in December, the fewest since February 1995, and followed a 634,000 rate the prior month. For the year, sales dropped 26%, the most since records began in 1963, while the median price of a new home fell to $219,200 in December from $244,700 a year earlier.
DeerfieldHomesOnline.com
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