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March
23
23
Rockford Real Estate Market Insight
John Peterson, a Dickerson & Nieman Broker/Realtor looks at the Local Housing Market
The good news is that we're getting a pretty good amount of phone calls for people wanting to list their
houses. We've had at least two listing appointments each week for the last month, and have quite a
few homes coming on the market. Right now a number of people are trying to get ahead of the spring
market before too many others get on the market. That's a smart strategy given that we're down about
500 homes from where we normally are.
Still, in Roscoe and Rockton we're having problems finding enough qualified houses. If homes are in
good shape and move-in ready, they're selling because there are plenty of buyers there. It's likely that
a lot of the activity has to do with the attractiveness of the Hononegah School District. Property taxes
might also be a factor.
I'm finding that most of my business these days is coming from referrals and past clients, internet leads
and open houses. I'm very active in the Rockton Lions Club and I get a good deal of business that way.
My daughter is a varsity cheerleader so we get leads there as well. We'll be at a Hononegah basketball
game and for half the game I'm looking up properties for people on the phone!
An important message to communicate to sellers is that these days we're pricing homes for the current
market, not the 2005 market. Which means we're setting realistic expectations based on current market
conditions. Most sellers appreciate the dose of reality. Yes, they may take a hit when you sell, but
depressed prices may well mean they'll make it up and then some when they buy.