List price: $224,900
Sale price: $220,000
The Property: On April 11th-the day before this five-room house sold for $220,000-the National Association of Realtors (NAR) forecast that the national median price for an existing home in 2007 will be $220,300. If that prediction holds up, it means that half the houses sold this year will go for less than this Lindenhurst property, while half will sell for more. (The NAR forecast anticipates a slight drop in home values nationwide, the first in almost four decades.) Although this five-bedroom, one-bath house is small-920 square feet and a one-car garage-it does have a view out back of a small lake; a playground, a tennis court, and a trail-crossed forest preserve are only a short walk away. Throw in a big, fenced-in back yard, a low-maintenance all-brick exterior, and a stylish kitchen (maple cabinets and stainless-steel appliances), and you’ve got yourself a pretty nice midpoint.
Price Points: The sellers bought this 39-year-old house in 2004 and undertook an ambitious upgrade that included a new roof and a kitchen rehab. When they were transferred out of town, they listed the house (on January 1st) for $234,900, but got no action. “A few years ago, it would have gone in the $230,000s with all those improvements,” says Tina Henry, their agent. Confronted by a softening market, they cut the price to $224,900 and landed a buyer.
Buyer: Not yet identified in public records
Sales agent: Tina Henry, Century 21 Kreuser & Seiler