SW Chicago Suburb Buyers Taking Advantage of Low Interest Rates

Wow - I actually have some time to write a blog post this week. I've been so busy with buyers that I'm going to have to call in one of my trusted agents in my office to help if this keeps up. I experienced a short lull after the tax credit expired but the low interest rates have created a new surge. It was nice to have a couple weeks to re-boot and now it's back to work.

I took one buyer out looking at Tinley Park homes that admitted she had been using my MLS search on my website for quite some time. Only these low rates made her stop lurking on the Internet and do a real-time search of properties. She purchased a beautiful Tinley Park home after going out 3 times.

She asked her mother, "How will I know what the best house will be?" Her mother replied, "You'll just know - you'll have the feeling". We saw some lackluster homes until we found the Tinley Park home that she fell in love with. Prior to this one, the closest home we saw that fit her needs had old siding that was bowed out in several places. The home she fell in love with was all brick.

It was the most staged house I've ever seen. It was a very well done flip and I'm wondering if the contractor knew the stager because it was like a bed and breakfast and for this price range it was almost overkill. The house was beautiful on its own and although the staging certainly made it look appealing, I think it was over the top (so much real looking food on the counters it made me hungry - and no home owner would leave all that food out unless they were having a party).

Did the staging sell the house? I'm not sure - this was like a brand new house inside (was built in 1957) and would have looked good no matter what. We didn't see a house in the price range (or even higher) that compared. My first-time buyer "felt it" and put in a good offer and went up in price during negotiations and got the house. It would have sold this weekend if she didn't act quickly - at the least she could have been in a bidding war.

She didn't go out looking during the $8,000 tax credit time frame, but she'll save much more with the current low interest rates if she stays in the home long enough. And other buyers are joining her.

We don't know how long these low rates will last - so don't regret waiting and letting this opportunity pass you by. Low prices plus low interest rates are a combination we might not see much longer.