Real Estate Market Steady, Good Time to Buy a Home

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Real Estate Market Steady

Despite the pandemic, the real estate market in Naperville has mostly been steady.

And right now is a great time to buy, according to Coldwell Banker Realty real estate broker Elizabeth Gretz, as interest rates are very low.

“There are a lot of people who would like to move because the rates are so low, but on the flip side you can take your 30-year mortgage and you could turn it into a 15-year mortgage at these rates, said Gretz.

Because of this, some people are holding off on selling their home. But that doesn’t mean the market has slowed down.

Popular Homes

Gretz said with more people working remotely, waterfront homes have become more popular.

And if it’s not a lake or river in your backyard, homes with a pool are standing out.

“Two years ago if you had a pool you lost 80 percent of the buying pool immediately. So you only had 20 percent of people out looking who would be interested in a home with a pool,” said Gretz. “Today if you have a home with a pool, it sells in a about a minute and a half.”

Be Prepared

Overall, Gretz said homes on the market are selling quickly and many people are getting top dollar.

Due to the higher demand and fewer homes for sale, Gretz recommends being prepared. Make sure you’re pre-approved and be ready to make an offer as soon as you walk out the door.

Naperville news 17’s Aysha Ashley Househ reports.