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BLOG – Clever Copycats Try to Cash in on “The Great Illinois Corn Flake”

Will the Real “Great Illinois Corn Flake” Please Stand Up?

The latest $200,444 bid for the giant Illinois shaped corn flake being offered for sale on Ebay has inspired some impostors. There are dozens of “Great Illinois Cornflake” lookalikes and related items now being offered for sale on Ebay. You can check it out by clicking on this link. You’ll find a seller offering a “Great Illinois Corn Flake T-Shirt” for $5,000,

a Great Illinois Corn Flake display frame for $24.00,

a piece of torn paper in the shape of “The Great Illinois Corn Flake” for $0.01,

and, perhaps my favorite, a very eloquent and poignant Corn Flake Sign from Illinois for $99.99.

 

PS…I admit that I actually dumped some of our corn flakes on my desk last night to see if I could find any cool and unusual shapes.  Nothing interesting…they all look the same.  Maybe we ARE onto something super special here.

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Shazam’s “State of the Market” Report – November, 2007

Beep……………Beep………………..Beep….Beep……………………………..Beep……………………………Beep…..Beep………….BEEP………….BEEP…BEEP,,,,,,BEEP….BEEP..BEEP..BEEP
Whether we are talking about recovery on Grey’s Anatomy or in the Real Estate Market, the idea is the same. The recovery will likely be subtle, slow, and complicated by occasional setbacks. It is with hesitation that I even mention recent positive progress in our local real estate world for fear of jinxing it, however, it is undeniable that within the last six weeks the flat-line condition has seen some rhythmic improvement.

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

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Barrington Area Market Data: 2005 Through 2007 – Single Family Homes, Townhomes & Condos

In an effort to help home buyers and sellers analyze the real estate market data that impacts their properties, we’re going to regularly post the latest market statistics right here on BurbFeeder.com and on TheLubyGroup.com. We hope you’ll visit us again for updated statistics and to help keep us on our toes. The data will be here!

“Torture numbers, and they’ll confess to anything.”
~Gregg Easterbrook

The chart below goes back three years to show a more recent comparison of properties that sold per month in Barrington. You’ll see the number of Units Sold, the Median Sold Price, Minimum Sold Price, Maximum Sold Price and Total Volume per month in 2005, 2006 and 2007. We have access to a wealth of real estate sales data for specific suburbs and neighborhoods. If you would like us to provide a statistical analysis of home sales in your community, please fill the details of your request in the contact form below. We’ll follow up right away. Thanks, Liz Luby

Tags: Barrington, Real Estate, Market Data, Statistics, Sold Properties, Median Sold Price, Median Sale Price, Minimum Sold Price, Maximum Sold Price, Total Volume