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real estate busi So Mc property nry County ha to t in Crystal Lake and around been asking us this question, you what we told tl During most of 1966 there was so much talk about the tight money situation and the higher rate of interest some people just naturally concluded that the real estate business had slowed to a walk, or as we used to say in Arkansas--"just went to the dogs." But the facts show that the real estate business in McHenry County in 1966 was surprisingly good and the volume of activity was quite comparable to the 196S volume. Real ©state tille insurance tnuwHons up In 1966 While" there is no single index available that shows the complete picture of real estate sales and values, the number of title insurance transactions is a good barometer of the real estate activity. The total number of such transactions in 1966 exceeded those of 1965 and represented a continuing upward trend in McHenry County real estate business. Title insurance transactions include those made for refinancing of real estate as well as for sales, but since the objective of much refinancing is simply to obtain a lower interest rate, transactions for this purpose decrease with increasing interest rates. Therefore, we have to assume that the 1966 increase in total title insurance transactions reflects a greater than usual percentage of actual real estate sales in 1966 than in 1965. Mortgages and assets Increase yec;? " •» Chfti only needs to check the current financial reports Of McHenry County's banks and savings and loan institutions to note that their assets have substantially increased and, in spite of the tight money situation, their real estate mortgages have also significantly increased. It is clear that in the judgment of those who are in a position to be well informed on values, McHenry County real estate is a very good asset on which tor place your money. But everything is not rosy From time to time you may hear a rumor happily passed along that a new industry is moving into McHenry County, especially into the Crystal Lake area, but seldom does one ask where will this new manufacturer find enough employees. It is conservatively estimated that industries that are already here now need at least 10% to 15% more workers than they are able to obtain. In the near future this shortage of labor is likely to increase to 15% to 20%. Further, the task of attracting new employees cannot be profitably solved by simply raising wages, lowering standards or pirating workers from the fellow down the street The industrial "chicken or egg" dilemma Which comes first, more housing and more people or more industry? The answer is usually one of location and timing. If a community is relatively isolated, industry should come first, but we have had some nearby exceptions, such as the Meadowdale development. However, where a reasonably good industrial base has been established, such as in the Crystal Lake area, then the primary problem is to get better housing at prices skills can afford to pay. \ We need decent The average worker does not like to commute too far because transportation costs, not to mention time and bother, soon become too burdensome. By the time his car has worn out, and he has another series of new car payments, home mortgage payments, and an expanding family, the idea of long distance commuting becomes less and less attractive. That's why so often when a new plant moves into a community, sooner than later, they lose many of the old workers from their previous location and have to skim off replacements from among those who already live and work near the new plant site. low cost housing and rentals Here in McHenry County we have the fine schools that attract the type of skilled and technically trained people that industry needs, especially light industry. We have the scenic countryside and open space that young families appreciate. But high calibre workers will move into any given area only if there are attractive homes in which they can live and afford to buy. Well designed housing located in a beautiful area will often keep and attract employees quicker than a raise in hourly pay. To provide the kind of housing that can be purchased by competitively paid workers, the homes that are appealing and inviting enough to draw people out 20 to 30 miles further, is no small task. One answer may be in the new concepts of multiple dwellings, where all exterior maintenance, parks and playgrounds are centrally and properly controlled to assure the attractiveness that will enhance neighboring properties. Such developments could be individually purchased or rented. And we certainly need selective low cost rental properties. Of course, many people wishing to move to McHenry County would prefer detached homes yith good yard space. One or two major builders have already contributed notably to the development of such attractive housing in McHenry County, especially in the Crystal Lake area. But an organized effort should be made by manufacturers and business men in cooperation with county and municipal officials to attract additional great builders to McHenry County. Different areas compete for labor Whatever our labor supply problems may be, we must recognize that industries in all the communities around us, De Kalb, Elk Grove and others need additional help, too. Therefore, if we are to succeed in helping the industry we now have, without even allowing for the labor needs of additional industry, we should work out programs of cooperation with builders, industry and government so that new employees coming to this area c^n find attractive homes to purchase or rent at prices they can afford to pay. Perhaps a privately financed, non-political McHenry County Development Council should be organized for this purpose. Thorough consideration would have to be given to tax revenues in order to make certain that we have no increase in population without a corresponding increase in evaluation. We do not wish to solve one problem and create another. But so much for the problems that concern all of us, let's talk now to those who may wish to sell or buy a home or farm or business. We have been pleasantly surprised Northern Illinois Realty Service was started just a year ago, but at the close of our first year we are already one of McHenry County's very top real estate firms in total volume of real estate sales. We even surprised ourselves by doing almost double the sales volume that we projected for our first year. Our success has seemed to confirm the faith that so many real estate owners have shown in our objectivity and responsibility. While our prime responsibility is to the owfiers whose properties we represent, we have also felt a deep obligation to the community as a whole and to every buyer who comes to us for assistance in finding the property he wishes. Oh, we have goofed on some properties Somewhere there may live a real estate broker who can simply tell you over the telephone how much your home is worth. We have heard that now and then a banker or lawyer may possess this gift of prophecy. And even here in McHenry County we have heard of a real estate broker who could walk in your front door and out the back door and hand you an appraisal of your home. This same broker is reported to be able to show and appraise a farm while driving past the property at 65 miles an hour--if it's daylight. Now, unfortunately and apologetically, we have not sold every property that we listed. And the chief reason we had trouble selling certain properties was that they were priced too high, not just a little too high, but priced completely out of the market ball park. Therefore, we cannot stress too much the importance of realistic pricing, even when you share the owner's emotional appreciation of how well he personally panelled his basement. Another factor in selling a home is how well you keep it up and clean it up. When your broker makes an appointment to show your house, please, at least, make up the beds. However, our actual selling pries averaged within Ll% off fit© listed m™**! We have found that if you study the pricing problem closely and whenever possible, all the time if you can, bring in professional appraisers to assist you, the chances are you'll come very close to getting the owner the price he asks for his property. By following this appraising practice, the average selling price of all the properties we have sold was within 1.1% of the owner's asking price! This is an amazingly good average when it is considered that a selling price average within 5% of asked price is very good indeed. We are proud that we haye been able to get sellers the prices they asked for, or nearly so. We strongly advertise and merchandise our properties It is a matter of record that Northern Illinois Realty Service advertises more than any other real estate broker in the Crystal Lake Herald. We advertise more than any McHenry County real estate broker in the Paddock newspapers that cover 16 cities, including Arlington Heights, Mt. Prospect, and other northwest NORTHERN ILLINOIS REALTY SERVICE INCORPORATED Sign of good value in real estate metropolitan areas. We are by far the largest real estate broker advertiser in McHenry County in the use of outdoor billboard posters. We also advertise regularly in the Chicago Tribune, the Wall Street Journal, and other selected media. It is the quality and strength of our advertising that jias enabled us to sell so many properties at prices that please the sellers. We believe in cooperating with other real estate brokers When an owner lists his home, farm or other property with us to Sell for him, not only do we advertise and merchandise his property, but we also supply complete photographic and descriptive listing sheets to other brokers. We are glad to share our commission with any other realtor who may haye a buyer for any property that we represent. It is a long established and fundamental fact of the real estate business that virtually all successful real estate brokers are eager and willing to supply their fellow brokers with immediate and complete information on the properties they have listed and to help effect a sale on a shared commission basis. Northern Illinois Realty Service strongly believes that the "name of the game" in regard to a real estate broker's service to his client is to sell the owner's property at the listed price and no matter which broker comes up first with a qualified buyer and acceptable terms that broker gets the sale. Cooperation is competition at a higher level. This policy is another reason why so many property owners have selected Northern Illinois Realty Service as their exclusive broker. What is the real ©sfette sales . and value outlook for McHenry County? The very fact that in spite of the scarcity of mortgage money and the higher interest rates, real estate business in McHenry County in 1966 remained so strong, clearly indicates that the demand and desire for real estate in this area is stronger than ever. As the money supply eases the demand for McHenry County real estate should really be great. There will be, of course, a wide variation in growth and demand within the different communities but the outlook is for a steady increase in demand with perhaps a dramatic upward turn starting before 1970. So now is a good time to buy real estate in McHenry County. And because we try to make careful evaluations of properties you may wish to call on us to help you make the best buy. If you need to sell your home or farm, you may wish to call us because we do understand the favorable value trends. We are able to help you sell your property with an enthusiasm based on a well-founded knowledge of the product. The sale of a good product, properly priced, is a service to both buyer and seller. Long ago we learned that if you wish to sell a good product, you should learn all about why it is good, for whom it may be best, and advertise it well and wisely. WJ Northern Illinois Realty Service, Incorporated 460 Virginia Street (Route 14), Crystal Lake, Illinois 60014 Phone 459-4440 3412 West Elm Street, McHenry, Illinois 60050 Phone 385-2340