Naperville Housing Market Predictions for 2014

The real estate market in 2013 brought about a trend of increased home values and a decrease in negative equity for most cities across the US.  In Naperville, a city that is often a positive exception to most happenings across our nation, shares positive trends in the housing market as well. In 2012, the average selling price of a home in Naperville was $413,909.  In 2013, the average selling price increased to $439,079 – a 6% increase over 2012.  In 2014, the overall housing market is expected to be an encouraging year.

According to Zillow.com, four housing predictions for 2014 are:

-Values will increase by 3 percent

-Mortgage rates will reach 5 percent

-It will be easier for borrowers to get a mortgage

-Homeownership will fall to the lowest point in two decades

These predictions indicate that values will continue to increase, mortgage rates will no longer be bottom barrel hence a sturdier system, and although homeownership may reach a low point, this also indicates that investment properties and rentals could increase.

For Naperville, 2013 was a year filled with nationwide recognition.  Naperville was ranked the #1 city for early retirement, Naperville library was ranked #1 in the nation, area high schools were ranked among the best high schools by U.S. News, and the increase in home values are an above average increase over the rest of the nation.   For Naperville, 2014 is a promising year. 

Dan Firks specializes in residential real estate for Chicago’s western suburbs.  As a Naperville resident and Realtor, he has been named a “5-Star Real Estate Agent” by Chicago Magazine, Zillow, and is the #1 Real Estate Broker at RE/Max of Naperville.  Have a questions about real estate?  Contact Dan at 630.637.9009 or dan@danfirks.com.  To view homes in Naperville go to www.NapervilleIllinoisHomes.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

James L. Freeland January 21, 2014 at 09:35 PM
Absolutely great news for our great city. As long as we keep moving forward with intelligent items such as Smart Meters, expanding our downtown with new developments, maintaining our sewers, streets and other utilities, and keeping our libraries and schools greater than other communities, we shall maintain our superior housing market.
Gerard Schilling January 22, 2014 at 06:19 AM
The problem with smart meters is they significantly increase cost to deliver a simple service, can't be justified in any economical model yet devised by man, are health and fire hazards, are hackable, spy on household and people within, make a few rich at the expense of the tax payer/electric user and finally don't add one watt of electricity to the base which would drive cost down. Stupid is as stupid does!
JR January 22, 2014 at 09:49 AM
Gerry, quit beating around the bush and tell us how you really feel :)
James L. Freeland January 22, 2014 at 11:25 AM
Sorry Gerry, but nothing you stated is fact. You continue to spew untrue rumors -- especially about Smart Meters. I deal in facts and so should you if you wish to appear somewhat intelligent.
Gerard Schilling January 22, 2014 at 11:55 AM
Jim, Since you seem to have the inside track on what goes on in our city any word yet on the two recent house fires (one which killed two people) as to their causes. Our world class fire department is very good at determining cause except when anything electrical is involved and them mum is the word hoping everyone will forget about it.
James L. Freeland January 23, 2014 at 12:56 PM
Gerry, to you I am Mr. Freeland. And are you making an attempt to stretch the cause of this fire to Smart Meters? What a sick mind you have when there is no such fact of this. As previously stated, you would certainly sound more intelligent stating actual facts rather than "speculations" and "rumors", and especially making any attempt to initiate false rumors. And, why do you not take at least a little pride in the true subject of the above article. If you hate Naperville as much as you seem to, please accept the invitation to locate in another community of your liking.
James L. Freeland January 23, 2014 at 01:45 PM
Ger, let me give you another true fact regarding your negative thoughts about Smart Meter: If Smart Meters were adverse to human lives, any property with a Smart Meter would not be able to be financed by an FDIC financial institution and an insurance company would refuse to insure the property. Therefore the entire real estate market would collapse, including your home, because of the repercussion affects.
Gerard Schilling January 23, 2014 at 05:52 PM
Well Jimmy, I am glad to hear you believe your own distorted view of reality and as the guy on TV use to say, "just the facts buster, just the facts"! Where are the REPORTS ON THESE FIRES?
Roy Rumaner January 24, 2014 at 11:51 AM
Gerard, house fires happen. They are not caused by smart meters but more likely by a space heater or some sort of electrical fault INSIDE the house that was there long before the installation of the smart meter. I know it is hard for you to accept in your fantasy world, but smart meters are not going to cause climate change or cause autism or increase the number of people being diagnosed with cancer. They simply are not the problem you want them to be so you can have something else to complain about.
Gerard Schilling January 24, 2014 at 12:30 PM
Roy, I don't want them period as there was no good reason to spend 22 million with 3 million in overruns and climbing to replace perfectly good meters so that a bunch of crony capitalist in collusion with either dumb or crooked politicians could enrich themselves at our expense. As to fires and their causes where are the investigative reports? As to electric bill costs have you noticed they keep creeping up beyond the 2% they were suppose too. I would in the future like to see a referendum to sell our electric utility as they charge the highest rates in the area and failing that council to pass an addendum to allow people to buy their electric on the open market. If we had competition in the system most of this nonsense would never happen in the first place!
James L. Freeland January 24, 2014 at 04:45 PM
Well ger, before sounding too uneducated, try to make an attempt to gain some knowledge -- such as enrolling in the "Naperville Citizens' Academy." You just might discover some enlightening information that will improve your thought process.
Gerard Schilling January 24, 2014 at 06:09 PM
And for you jim before speaking about something you know absolutely nothing about try approaching it with an open mind and do some research on smart meters, who created them, why they were created, what their intended purpose was and is and how many fires they have caused through out the world including here in IL and possibly here in Naperville. As to your constant cracks on intelligence and education I'll match mine with yours any day.
James L. Freeland January 26, 2014 at 01:59 AM
Well ger, there you go again!!!!!
Gerard Schilling January 26, 2014 at 06:49 AM
Jimmy since you are too lazy to do research here it is for you. http://emfsafetynetwork.org/smart-meters/smart-meter-fires-and-explosions/
James L. Freeland January 26, 2014 at 05:55 PM
Well, ger, there you go again - promoting assumptions, not substantiated facts. Yes, I am familiar with the propaganda in the article you referenced, and just maybe we should also blame Bush on these incidents. And are you really going to try to match my intelligence? If so, in what field? You know I think John Wayne Gasey was more intelligent than me, but in a totally undesirable field in comparison to my standards. Unfortunately you are boring me with your negative comments about this Great City and the actions being taken by our governing entities and representatives who are doing everything possible to make this Great City even Greater.
Gerard Schilling January 27, 2014 at 05:34 AM
Dream on jimmy your blind allegiance to stupidity and corruption will only lead to the destruction of your utopian society faster then otherwise would be the case. Only people who are obsessed with intelligence usually have very little of it especially when it is described as common sense.
Gerard Schilling January 27, 2014 at 08:01 AM
Jimmy, Additional Ruminations. You always refer to your standards which are the typical run of the mill socialists who like to spend other people’s money to enhance and sustain their own existence while always depriving the average person from exercising their freedom of choice/speech because you clowns believe you know better and it is your way or the highway. Guess what, people like me and there are more of us then you aren’t going to take it anymore and the rise of conservative groups like the tea parties are a manifestation of this new freedom movement and possibly the only thing that will save this country from a complete big government take over. Your continued over the top accolades of our city and its performance in all areas proves the point that you are not in the less bit objective but rather an idealist with an agenda to make all of us peons of the state. We the people created the states and the Federal government not the other way around!
Michael Hunt January 28, 2014 at 05:45 PM
It's a thankless dead-end job, Gerry, being the No. 1 critic of an popular, desirable, successful, award-winning city. Why don't you set your sites a little lower and go rip apart Bolingbrook for a while?
Gerard Schilling January 28, 2014 at 05:59 PM
Not at all Mike. It took many years to lose our freedoms and be bankrupt by corrupt, greedy, politicians and their political hacks,cronies and enablers and it will take many years to return to Constitutional adherence where citizens regain their birth rights. Every day more and more people are waking up and taking individual steps to correct this obvious imbalance.


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