From late August until November 2007, we have noted an increasing number of home sales, particularly under $700,000. The properties that have been sold by The Luby Group during this period have been in beautiful condition and value-priced. Generally speaking, the buyers who purchased the properties realized that it is a tremendous time to buy a home with the interest rates still at near record lows, a great supply of inventory and motivated sellers. The real estate market appears to be coming out of its coma, but the recovery will undoubtedly be arduous in its efforts to return to complete health.

Economists from the National Association of Realtors are reporting nationally that “2007 will be the fifth best year for housing on record”. They are forecasting that existing-home sales will be about 5.5 million with two-thirds of metro areas showing price gains last quarter. Unfortunately, the real estate boom from 2001 to 2005 led people to believe that housing is a quick high-yield investment. Consequently, the public has had to adjust these unrealistic expectations and remember the fact that real estate continues to simply be what it has always been: a solid long-term investment. “Buying a home is not a quick-in, quick-out investment. Home ownership builds wealth over the long-term.” According to Lawrence Yun, NAR Chief Economist, a vast portion of the nation’s mid section is under priced in relation to income, and prices in some markets could rise notably with good local job gains.

I believe the outlook for real estate sales in the upcoming months is good for a number of reasons. There is obviously a certain pent-up buyer demand from those who chose to forego home purchases in 2007 due to the market being in a period of correction. Additionally, many buyers are regaining confidence that home ownership is a great long-term investment and that the 2007 time of crisis could turn out to be a great time of opportunity. The fact that there is ample housing inventory, job stability and favorable interest rates all bode well for the months to come.

In short, we are optimistic, because we are busy. Our phones are still ringing. Clients are calling. Buyers are still visiting our listings online in large numbers. People are still stopping by our open houses and asking us to email them information about new listings. We are writing offers and closing deals…and it’s NOVEMBER 15TH!  Thanksgiving is just one week from today.  Based on the markets we’ve seen, there’s never been a better time to be a home buyer. And if you’re selling, the buyers out there aren’t behaving as badly as you might think. They’re just taking a closer look and taking longer to digest the recent home sales data before biting the bullet. So please feel free to give us a call…STAT! Our real estate defibrillators are ready to go and we’ve got our fingers on the pulse of some of the best deals and most beautiful properties in town.

Written by Suzanne Luby (a.k.a. “Shazam“)
The Luby Group – Coldwell Banker Residential Brokerage
Barrington, IL 60010
Suzanne’s Cell: 847-922-7773
Suzanne’s Email: Suzanne@TheLubyGroup.com

Suzanne Luby
Real Estate Consultant
Suzanne Luby has been selling real estate in the Barrington Area and Chicago’s Northwest Suburbs for nearly 25 years. From first time home buyers to the most skilled real estate investors, Suzanne works with all types of clients and has remained a top producing agent through the real estate market’s many changes. Suzanne’s knowledge, negotiating skills and sales record have earned her consistent corporate recognition, numerous awards and a reputation as one of the most seasoned REALTORS in the Chicago Northwest Suburbs.

In addition to consulting both home buyers and sellers, Suzanne is often called upon to share her knowledge with other area REALTORS by leading workshops at Coldwell Banker’s Barrington office. Every year, she invests a significant amount of time and money to stay up to date with the latest trends in real estate. She has earned such advanced professional designations as GRI (Graduate REALTOR Institute), CRS (Council of Residential Specialists), ABR (Accredited Buyer Representative) and SRES (Seniors Real Estate Specialists) . She is also part of an idea sharing network of top selling REALTORS from across the country.

Prior to becoming a licensed REALTOR, Suzanne and her husband, Tom, raised four children. Five years ago she recruited her oldest daughter, Liz Luby, to join her real estate team. Her son, Jim Luby, is also an experienced and reputable REALTOR in the City of Chicago. Suzanne’s daughter, Erin Luby, is a teacher, administrator and cross country coach at St. Ignatius College Prep High School in Chicago and her youngest daughter, Christine Luby, is becoming one of the top sales people at HumanScale Corporation, a company that sells high-end ergonomic office furniture.

Suzanne also has a degree in education and spent years teaching High School Literature, Drama & Public Speaking classes before the arrival of her first child, Liz Luby, 30-something years ago. Her background as an educator prepared her well for the real estate industry. There is no one more skilled at advising clients and teaching her team about the real estate business. From interpreting national trends locally to guiding clients through daily transactions, Suzanne is a reliable and expert real estate consultant who holds herself and her team to the highest professional and ethical standards.

When Suzanne is not selling real estate, she loves to travel and she is a voracious reader. She especially enjoys reading books about the real estate industry, spending time with her family and taking care of her two grandsons, Liam and Charlie.

Suzanne’s Real Estate License Number: 076316750

Liz Luby
Real Estate Consultant
After spending nearly a decade working as a Broadcast Journalist in the TV News business, Liz Luby earned her real estate license about five years ago and joined forces with Suzanne Luby. Since they formed their partnership, The Luby Group’s annual sales record has nearly doubled and their business continues to grow. Liz has been a tremendous asset to The Luby Group because of her communications background.

As a former news Anchor and Reporter for KFXB-TV in Dubuque, IA and WHBF-TV in The Quad Cities, IL, Liz mastered the art of news writing and story-telling. She now uses those skills to promote The Luby Group’s brand and effectively market it’s listings both in print and online. During countless interviews with various news sources, Liz learned to get to the root of an issue by asking relevant questions and being a good listener. Today, these skills help her better assess the needs and goals of her real estate clients. As a former morning news producer and writer for Fox News Chicago, Liz developed her skills as a team leader. Under intense deadline pressure, she consistently produced and earned recognition for high quality newscasts. Today, she applies these skills in the real estate realm by guiding seller and buyer clients through transactions with a knack for problem solving and expert attention to detail. Like Suzanne, Liz makes continued learning a high priority. She is one class away from earning her CRS (Council of Residential Specialists) professional designation and is part of a network of top selling REALTORS from across the country.

When Liz is not selling real estate, she loves spending time with her family and playing guitar with her husband, Bill. She enjoys reading, running and photography. She has also recently taken up blogging, which fits right in with her love of journalism and story-telling. Liz plans to use her blogging hobby to help give The Luby Group’s clients increased online exposure and better access to information about local real estate.

Liz’s Real Estate License Number: 076389102

Susan Prokos
Buyer Specialist
Susan is a very big asset to The Luby Group because she has lived in the Barrington area for over 15 years with her husband and three sons. From the neighborhoods to the schools to the sports teams, Susan knows the community very well and she welcomes the opportunity to share her knowledge and experiences with her clients.

Prior to becoming a licensed REALTOR, Susan and her husband, Dean, raised three great sons who are now 17, 19 and 21. Two are in College and one is still a Senior at Barrington High School. Even her golden retriever, Chief, is male. With so many men in her household, Susan has become a pro at understanding the male psyche! Ask her anything about the hottest sports teams. She definitely knows how to talk the talk.

When she’s not selling real estate, Susan and her family love being on their boat. They own a marina in Wisconsin which they have run since 2003. She is also a former school teacher. She taught special education and other classes for eight years. The skills Susan developed as a family business owner and an educator prepared her well for real estate. She is a sharp business woman and a hard worker with great inter-personal skills and a fun, likeable and laid-back attitude.

“I feel fortunate to be a part of such a talented team of REALTORS and I love the “hunt” of finding a home that fits perfectly into my clients’ lifestyles and their needs.” – Susan Prokos, Buyer Specialist

Susan’s Real Estate License Number: 476424962

Christine Snelgrove
Client Care Coordinator
Christine Snelgrove joined The Luby Group two years ago as a Licensed Assistant. She is an invaluable member of the team, preparing the print marketing materials and managing The Luby Group’s Client Care Systems. As a licensed REALTOR, Christine is a vital team participant with a thorough understanding of the business.

Christine has a BA degree in Interior Design and a MS degree in Business/Human Resource Management. Prior to joining The Luby Group, she held professional positions in Finance and Human Resource Management. She was previously the Assistant to the Manager of the Coldwell Banker Residential Brokerage Barrington office.

When Christine is not busy managing The Luby Group’s Client Care Systems, she spends time with her family, including her husband, the V.P of Topco, Inc., a son at Embrey Riddle Aeronautical University, a daughter at Utah State University and a son who is a freshman at Barrington High School. Christine has lived in many locales throughout the United States and Canada, residing in Barrington for the last twelve years. Her experiences provide her with an intimate knowledge of selling homes and the relocation process from beginning to end.

“It has been a pleasure working with this dedicated team of real estate professionals. Suzanne has an expansive knowledge of the real estate business and Liz’s expertise in web marketing, up-to-date ideas and energy are impressive.”

Christine’s Real Estate License Number: 476423952