I don't re-blog a lot of posts, but this is one that I feel more buyers and sellers need to read. Lyn Sims who knows the Northwest Chicago suburbs well and particularly Schaumburg, Ill has written a post about real estate market statistics found online, it's accuracy and where you should really go for accurate data. This info applies no matter where you live...Worth the read!
How about sharing some correct information?
In seconds wrong information is out there on the web inundating sellers & buyers of the Schaumburg Area with outdated or incorrect numbers on the real estate market. So yesterday, Chicago Agent Magazine did a post about 'The 10 Most Competitive Housing Markets in Suburban Chicago'. It piqued my interest so I clicked through to see this impressive graph with inventory levels in my area.
Problem was, none of it was correct. I'll have to say that the information shared was at least 3 months old & credited in the piece to 'Redfin's numbers'.
Since when does Redfin run the MLS & publish stats? Redfin has nothing to do with collecting marketing information regarding months of inventory. We all go to a central place & it's not Redfin. The MLS & it's subsequent programs are the correct place to get this information. Not Redfin, not Zillow, not Trulia.
It comes from Realtors that belong to the MLS. It's name is MRED, or Mr. Ed as we like to call 'it'.
Working with a Realtor that is up & current with the housing numbers in the Schaumburg area is important. It's part of their job & helps sellers successfully move to their new location & helps buyers purchase the new home they love. It's spotting trends both good & bad.
It's very important to work with a local agent that doesn't just throw stats out into the internet ether.
Schaumburg - correct inventory level from 4.4 to 2.2. We have only 1/2 that inventory. I think that's a big mistake, don't you?Hoffman Estates - correct inventory level from 4.9 to 2.2.Arlington Heights - correct inventory level from 5.4 to 2.4.Buffalo Grove - correct inventory level from 4.3 to 2.1