The end of the year is in site and sales always slow down at this time of year. The question is has 2015 been good to Wynstone home buyers and sellers? We will review this in January after all the closings are done. For now we can get a pretty good idea of how the year faired. So far we are at 20 homes sold.
Wynstone North Barrington Market Trends
In November 2015 there were no closings. Therefore I cannot provide any other data on marketing times etc.
We did have two new Wynstone homes listed for sale in November, however one was simply a re-listing, so I would only count it as one true new listing. That particular home is already under contract!
Wynstone Foreclosures & Short Sales.
Are there any? Buyers are always looking for a deal but often with foreclosures the homes need anything from a reasonable amount of work to a complete renovation. This then renders them less attractive even though the price might be good. But as in all real estate, there is a buyer for every property and it’s no different with Wynstone foreclosures. Some-one will buy it! Short sales are the same but seem to be harder to find a buyer for. Although for either buyers cannot have a home sale attached to buying a distressed home, Barrington has buyers with enough money to buy, renovate and either move in or sell without worrying about selling a home at the same time.
8 Lakeside Lane was the only distressed closing this year….to date. Sold at $600,000 the home had 5286 square feet of living space, in a 5 bedroom home and appeared in reasonable condition. Given the home was financed I assume most internal systems were working just fine.
There is one more foreclosed home in Wynstone that is under contract. It should close soon, maybe adding to 2015 sales. It does need more work doing to it, having been empty for a few years. I did see one other due to sell on the court house steps but it appears it was bought privately off the owner.
The only short sale available in Wynstone is on Wynstone Drive and has been on and off the market since 2009, with the price steadily coming down. Contact me for details.