Fritz Pfister

Folk singer John Prine sang; spring is just a smile away looking at a summer’s day, turn around and look at fall, winter hear my lonely call. Was he thinking of the housing market when he penned those words?

The Springfield, Illinois housing market is one of the most stable in the country, and therefore fairly predictable. Give or take a couple percentage points each year, and you see that the majority of home sale closings occur April 1, through September 30 annually. Usually about 60% of closed home sales. That leaves October 1, through March 31 with 40% of the sales. Along with the slower sales activity, home prices are lower during the fall and winter. The law of supply and demand is evident.

Home sellers need not despair, however should be fully cognizant of the challenge they currently encounter. To put their challenge into proper perspective consider these two facts. During the prime selling season during July through September, 1100 home sales were closed, as reported by member brokers of The Capital Area Association of Realtors (CAAR) MLS. On this 15th day of October, 1930 homes are listed for sale. In other words there are 830 more homes available for sale on this day than sold the entire third quarter, and the market is heading into the historically slowest selling season of the year.

Home sellers need not despair because homes that are priced appropriately, that are in the best condition, and locations continue to sell. It may take longer than usual to obtain an offer, and the price may be a little lower, however homes continue to sell. The most important ingredient for a successful sale is the real estate professional. Those home owners that hire an experienced agent, knowledgeable in values, market trends, and marketing continue to have success. The guidance of a seasoned professional during the current market conditions is invaluable to the serious home seller.

One may argue the reasons for the current market conditions. The consensus among real estate professionals is that the media killed the housing market. It is simply an accepted fact, which nothing can be done about.

One may argue that the Illinois government has impeded the economy resulting in lackluster job growth, a vital element to the housing market. In Illinois it is evident there is a serious lack of economic understanding by governor Blagojevich. The Illinois Manufacturer’s Association is currently running ads asking for citizens to call the governor to stop the anti-business policies that are destroying jobs in Illinois. The government is struggling to pass a Capital improvements bill, mass transit in Chicago is about to crumble, and the state’s budget creates more problems than solutions. Illinois is in a mess economically, without any relief in sight from the Democrat controlled three branches of government.

The bright side is that this is America, and the industriousness of the private sector will withstand the economic ineptitude of the (state) government. The economic situation is not pretty, and will get uglier while there are liberals in charge. Home sellers need not despair, there are hundreds of seasoned professionals available for you to succeed during these most difficult market conditions. The entrepreneurs, the workers with initiative, those with goals and dreams will survive the economic calamity resulting from the dysfunctional governor (Blagojevich), and legislature (Jones). Brighter days are ahead, there will be another election one day.