Rockford housing market booms, home flipped sells in 8 days
As buyers are on the hunt for a home they have options, and while building brand new can be enticing some say a flipped house can do the trick.
ROCKFORD, Ill. (WIFR) -Rockford Area Realtors CEO Conor Brown says homes are flying off the market, and selling for nearly $21,000 more on average than last year. A trend he doesn’t expect to slow down anytime soon.
“This November has been totally unlike any November we’ve had,” said Brown. It shattered all sorts of records. Buyer demand is so strong and with interest rates being so incredibly low we’re going to continue to see some of those high housing in terms of growth, price and volume.”
Bill Roy co-owns Roy’s North Shore Construction Company. He purchased and remodeled a Rockford home, and eight days after putting up a for sale sign Roy was able to replace it with a sold sign.
“Usually if they’re done correctly, and real estate guys put it on the market correctly I think they all should move relatively quick enough,” said Roy.
Roy’s been in business since 1980, and says he’s seen the many ups and downs the housing market has been through.
“Today the market is pretty good,” said Roy. “As long as the product is good I think you shouldn’t have a problem selling it for the right price.”
Brown says the market is good for everyone right now, but especially first time buyers.
“For them especially this is a great pathway for building long term wealth,” said Brown.
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