Adventures In The 2008 Naperville Housing Market

Even though it’s only February, 2008 has already resulted in a number of unexpected changes in the World of Naperville household and I’m not talking about my experimentation with growing a beard for the first time nor am I alluding to a local installation of my Naperville photography which I’m very excited about. 

As we all know, the national and local housing market is riddled with problems here in the choppy wake of the sub-prime mortgage collapse.  The economy appears to be cruising toward recession and 30 year fixed rate mortgages are once again alluring.  These perilous times also create an intriguing time for those venturing into the housing market.

A couple of weeks ago, I wrote about an impromptu outing in which my wife and I went to take a look at some of the homes for sale in our price range.  We had not contemplated a move in 2008;  however, with two rapidly growing boys, a home business and recording/film production project studio within our house it’s no mystery that we need just a little more room.  

The good news is we have fallen in love with a couple of nicely priced offerings on the market which has given us the opportunity to venture into a number of Naperville subdivisions which we had never visited, mainly in South Naperville and just a bit further west… still in Naperville of course.  I will say that we will not be looking at any foreclosure homes as my heart goes out to the many broken dreams which have occurred as a result of the sub-prime fallout.  Sometimes the emotion gets the best of home buyers and their dream gets a little bigger than they expected and it’s hard to fault anyone for that especially when the hard lessons are being painfully learned.    

The bad news is we quickly realized that if we are to take advantage of these market conditions, our house would need to be on the market and heading toward a sale.  These days the term “contingent offer” is more likely to generate sustained laughter as oppossed to interest with sellers.  Pricing, price range and location is tricky business.  

Thus, over the past week we have worked feverishly at break-neck speed to prepare our house for this turmultuous market, which means everything has a place, everything is in its place and the “tidying up” is ongoing.  Ironically, when we finally finished putting the house in presentable form we loved it so much we almost made an offer to ourselves… not contingent of course.

Our fingers are crossed as our home enters the market, priced to sell, in hopes that other buyers fail to see the amazing beauty in the dream home we have already spotted so that it remains on the market until we can finally make a firm contingent-free offer.  I will confess that I carry a special lucky rock daily, named after the street upon which our dream home happens to reside, which helps me focus on visions of selling our house and settling into our new Naperville home.  Stay tuned.  SM     



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