Arlington Heights renters, are you sick of throwing your money away by renting? Thought about buying a home, condo, or town house? Rent has risen over 10% in the last year and is currently the highest it has ever been and is still rising. With buying, you get to lock in a fixed monthly mortgage payment which would not change for the duration of your loan. It’s true that many renters enjoy the flexibility of not being tied down to a specific location or property. But besides that, advantages are scarce. Plus, renting removes your ability to have control over the situation. You can’t control whether your landlord raises rent or decides to kick you out when your lease ends. You can’t make many changes to the property, and even if you could you’d still have to get permission. With buying, you are the Alpha and whatever you say goes. You call the shots on your living situation.

Get started with your home search today

Get your home buying questions answered today by a local expert. Hi, my name is Steven Johnson and I am a real estate agent with Coldwell Banker. I service Arlington Heights and the surrounding suburbs. If you are looking to get started with your home search please reach out. I’d love to connect and discuss your real estate goals. Feel free to call or text me at (847) 525-6121 or visit my website at StevenJohnsonRealEstate.com

Steven Johnson, Realtor with Coldwell Banker Realty

If you’ve bought or sold a home in the last few years, you’d likely understand what I mean when I say the real estate market been a whirlwind. Bidding wars, homes selling for well above their list prices, buyers waiving home inspections and appraisals, etc. However, we’ve recently started seeing mortgage interest rates skyrocket, causing buyers’ monthly payments to more than double in most cases. This has caused the housing market to become unaffordable for some buyers. Consequently, you may assume and wonder are real estate prices dropping? Not necessarily.

Wait, home values are still increasing?

Being a Chicagoland and Southern Wisconsin Realtor, I have not seen prices drop in my area yet. In fact, home values are still going up. Sure, cyclically prices drop in the fall and early winter, however by January we have been right back where we started with bidding wars and quickly escalating home values. Year over year, home prices are still increasing, not declining.

Why aren’t home prices falling?

Imagine you own a home and you were able to either refinance to capture the shockingly low interest rates of 2021 and 2022 or you bought a home during this timeframe. Your home value has increased dramatically so if you sold you would walk away with a huge profit. However, you’d be trading your low interest rate for a substantially higher one. Plus, although your home has increased in value, so have all the other homes you’d like to purchase. Combine the higher interest rates with the higher prices (and also property taxes) and you get a homeowner who is reluctant to move, especially those wanting to “trade up” into a bigger home. This reluctancy has led to a shortage in the number of homes for sale. Consequently, basic supply and demand will tell you that when the supply for something is low, and the demand exceeds the supply, prices will increase. To no surprise, this has played out accurately in the Chicagoland market.

When will real estate prices fall?

Unfortunately I left my crystal ball at home so I cannot promise that I can predict the future right now. However, if we follow the basic rules of supply and demand, once more people are willing to give up their low interest rates and sell, and the number of buyers hasn’t drastically increased as well, we should see prices plateau if not come down. It’s also important to note that if mortgage rates continue to climb, eventually we should hit a point where demand falls due to people not being able to qualify/afford the monthly payments. With that said, who knows when that time could be, or how much prices could come down (likely not much).

Have questions? Realtor Steven Johnson has answers.

If you are looking for a top rated real estate agent with the proper knowledge and drive to navigate the current housing market, call/text Steven at (847) 525-6121 or visit his website at StevenJohnsonRealEstate.com

Are real estate prices dropping in your area or are they still going up? CLICK HERE to receive a free estimate of your home’s value.

Looking to start your home search? CLICK HERE to set up new listing alerts and to browse homes online.

Chicago Realtor Steven Johnson is at it again! Initially, I met Betsy about 7 years ago. She found me online when she  inquired about a listing I had. While it wasn’t the right home for her, she stayed in contact as she searched on and off for several years. Having been a Chicago native for decades and a local Lakeview resident for years, Betsy did not rush her decision. A few months back she messaged me about a vintage condo with a huge living room, a beautiful entryway with timeless finishes, and beautiful views of lake Michigan. Undoubtedly, we quickly set up an appointment to view it and quickly put in an offer. Shortly after, we heard back from the sellers and the negotiations began. It only took about a day or so of back-and-forth until Betsy liked the price. Once under contract to purchase the home, we professionally navigated through the inspection period and soon after she closed on her new place. Thank you for keeping in touch with me over the years Betsy! I appreciated working with you and am glad to have helped you find the perfect spot to call “home.”

Are you looking to buy or sell a Chicago condo? Looking for a Chicago Realtor?

Hi there, I am Chicago Realtor Steven Johnson and I would love the opportunity to earn your business. I stand out from other real estate agents through my straightforwardness, quick response times, and exceptional marketing skills. As a result, I always go the extra mile for clients and use my 8 years of experience and knowledge to get your real estate goals accomplished. Feel free to call, text, or email me at any time as I’d love to discuss your real estate ambitions today! (847) 525-6121 or Steven.Donald.Johnson@gmail.com

Are you looking for an estimate of how much your home would sell for? Get started by clicking HERE

Looking to start your home search online, including alerts when new homes hit the market? Click HERE

To learn more about Chicago Realtor Steven Johnson, visit his website at StevenJohnsonRealEstate.com

Should I sell my Arlington Heights home?

Are you thinking to yourself, “I should sell my Arlington Heights home, but is it a good time to sell?” The real estate market over the past three years has been kind to home sellers, especially those in Arlington Heights, IL. This is mostly due to high inflation, low inventory (not enough sellers!), and a higher demand for suburban homes. However, many believe it’s partly due to speculation that the Chicago Bears will become the Arlington Heights Bears. Regardless of the reason, it’s undeniably a great time to sell your home.

How much could I sell my home for?

Year to date, single family homes in Arlington heights have appreciated on average more than 7% and are currently at an all time high. If you’re considering selling, it is time to capitalize on these high prices. For a quick automated estimate of your Arlington Heights home’s value, you can CLICK HERE. However, to get the most accurate numbers, the best way is to speak to a local Realtor. Steven Johnson is an Arlington Heights real estate agent who has years of experience. He can provide you with a free estimate of your home’s value as well as discuss how his unique marketing plan will get your home sold quickly and for the most amount of money. Call, text, or email Steven today at (847) 525-6121 or Steven.Donald.Johnson@gmail.com

Arlington Heights homes are up more than 7% YTD

Why work with Steven Johnson?

Steven Johnson is a local Coldwell Banker real estate agent with over 8 years of experience and has sold countless homes in Arlington Heights. Steven gets homes sold quickly and for far more money than the average agent. He focuses his marketing on high end photography, preparing the home for sale in the most efficient and practical way, and using targeted AI and social media advertising to get the right buyers looking at your home. Learn more about Steven’s reputable marketing plan at StevenJohnsonRealEstate.com or contact him directly at (847) 525-6121 or Steven.Donald.Johnson@gmail.com

StevenJohnsonRealEstate.com

Eric and Ashley are some of my closest friends. They came to me in late spring looking for a home that would work for both of their work commutes. Eric took a job in Wisconsin and Ashley’s is in Illinois’ northwest suburbs. As a result, their home search expanded into both Illinois and Wisconsin. Being licensed in both states, it was important that I was an Illinois and Wisconsin Realtor. That way, I was able to keep them updated on new listings using mls networks in both Illinois and Wisconsin, as well as arrange showings in both states too.

As we began touring homes, they quickly began to learn the market and determine what was a “need” versus what was a “want” for them. Their ability to get on the same page helped them shortly after settle on a beautiful home in one of Gurnee’s most beautiful neighborhoods. Given that the home was on the private network, and that we felt the home was appropriately priced, we submitted a competitive offer and shortly after had the home under contract.

After about a month and a half, the happy couple have since closed on their first house and have already started projects to make it feel like “home.” Congrats Eric and Ashley! Enjoy your new home and THANK YOU for choosing to work with me!

Could you benefit from an agent who is licensed as both an Illinois and Wisconsin Realtor? Are you looking in both states or around the Gurnee area? My name is Steven Johnson and I am a real estate agent who services Gurnee and the nearby towns. If you have a Gurnee home to buy or sell, I would love the opportunity to earn your business by showing you how I stand out from other Realtors. Give me a call, text, or email today to get started on a FREE consultation. (847) 525-6121 Steven.Donald.Johnson@gmail.com. Visit StevenJohnsonRealEstate.com to learn more.

The Year-to-date housing market statistics don’t lie. Limited housing supply has kept prices higher, homes selling quicker when priced accordingly, and homes selling for closer to list price. If you’re looking to buy or sell a home hire an agent who knows how to navigate the low inventory environment we are in: Steven Johnson, Realtor with Coldwell Banker (847) 525-6121 or Steven.Donald.Johnson@gmail.com

YTD housing market statistics for Walworth county, WI

YTD housing market statistics for Kenosha county, WI

YTD housing market statistics for Lake county, IL

I’ve know Joe since we were friends in grade school. We’ve stayed in touch over Facebook and when he decided to reach out looking to buy a home I was grateful to hear from him. In the low inventory environment that Mundelein is in for his price range, he knew he had to move quickly when the right home came available. We set up a showing to see a “must have” home as soon as we could. We moved quickly on submitting an offer and shortly after had the home under contract. One of the stand out features of the home was the fenced in back yard. For the neighborhood, it is one of the largest yards you’ll come across and has beautiful, large mature oak trees and plenty of space for entertaining and relaxing. After getting past some minor hurdles Joe has since closed and is now the happy new homeowner. Congrats Joe! Thank you for choosing to work with me on the purchase of your new home.

Are you looking for a Mundelein home?

If you are looking to purchase or sell a Mundelein home I would love to hear from you. My name is Steven Johnson and I’m a local Real Estate Agent with Coldwell Banker Realty. I grew up in Mundelein and am a market expert in the area. Feel free to reach out to me any time to get started on accomplishing your real estate goals in Mundelein or any of the surrounding Lake County towns. To collect your FREE estimate on the value of your home, click HERE: (847) 525-6121 or Steven.Donald.Johnson@gmail.com

The search begins…

Pat and his family moved to Illinois from Texas several years back and I helped them rent a home in Glenview. Fast forward to 2023 and Pat reached out looking to purchase a home at some point in the next year. He and his family were considering several towns along Chicago’s North Shore but quickly decided Libertyville is the perfect place for them to plant their roots. Luckily, it didn’t take long for a beautiful, newly constructed home close to downtown Libertyville to catch their eye. After doing our due diligence, we soon after placed an offer. We negotiated for about a day or so, and soon had it under contract at a great price. As a result of our hard fought efforts, they’ve since closed and moved in. A Huge congrats to you both! It has been so much fun working with you 0ver the years. All in all, I appreciate your trust in me as your local Libertyville Realtor!

Looking to Buy or Sell a home? Realtor Steven Johnson is waiting for your call…

Are you relocating to the Chicagoland area from out of state? Possibly a first time home buyer? Are you looking to sell a home? Maybe you’re looking for a Libertyville Realtor? No matter your situation, I can help! Hi, I’m Steven Johnson and I am a local real estate agent who has been selling homes for over 8 years. I’d love to help you find your next home in Libertyville or any of the surrounding towns and areas. Feel free to reach out to me to get started on your home search or to begin the home selling process (847) 525-6121 or Steven.Johnson@cbexchange.com