Michael Steber: Keller Williams North Shore West

08/26/2026

New post is up! If you're thinking about buying, selling, or just want to understand what's happening in the Lake County market right now, this one's worth a read: What Lake County Buyers and Sellers Need to Know Heading Into Fall

What Lake County, IL buyers and sellers need to know this fall: stricter condo financing rules, a new Illinois property tax law, and whether the post-Labor Day market bump is happening this year.

08/25/2026

The condo and townhouse market is cooling this year, shifting to a calmer, more balanced pattern compared with the earlier frenzy. Median condo/townhome price is $300,000, a 4.0% year-over-year increase, signaling steady appreciation rather than sudden spikes. Price per square foot rose to $201, up 4.7%, reflecting modest gains in unit value even as overall momentum slows.

Closed sales have dipped 4.9%, pointing to slightly weaker buyer demand, while inventory holds near 236 active listings — supply hasn’t surged but hasn’t tightened either. That represents about 1.4 months of supply, well below the six-month equilibrium, so the market still leans toward sellers. Average time on market is roughly 35 days (about five weeks), giving sellers decent exposure but longer selling windows than during peak bidding-war periods.

Homes continue to sell close to asking, averaging about 99.4% of list price, so sellers generally capture most of their price with smaller concessions. Notably, bidding wars have eased, creating more room for buyers to negotiate on price, closing schedules, inspection contingencies, or seller credits for repairs or closing costs. Right now, buyers have the most leverage in this segment; sellers still benefit from a seller-favored market but should price realistically and stay flexible.

Buyers and sellers should monitor inventory and days on market—small shifts can quickly flip negotiating power—and pay attention to local micro-markets where conditions may differ.

Condo and townhome market softens — median +4%, bidding wars ease, buyers gain negotiating room.

08/24/2026

The $720K+ luxury segment was the real standout in this period's data. Closed sales jumped 14.8% year-over-year to 1,727, and new listings rose 9.6% — but months of supply still fell 17.2% to just 2.4, because sales are absorbing that new inventory as fast as it arrives.

Average market time dropped 14.3% to 48 days, and luxury buyers are paying the highest premium of any segment tracked.

This isn't a starter-home story that scales up anymore — it's accelerating on its own.

A breakdown of the county's single-family, condo, and luxury segments — and what each one means for buyers and sellers right now.

08/23/2026

Every time rates tick up or a headline uses the word 'crash,' I get some version of this question. Here's the honest answer: nobody, including me, can perfectly time a market. But we do have history, and every slowdown on record — the rate spike in the 1980s, 2008, 2020 — eventually gave way to renewed activity.

The dip feels permanent while you're standing inside it. It hasn't been yet. Anyone else remember being told 'now's a terrible time' at some point that, in hindsight, turned out fine?

08/23/2026

Every inspection report comes back with findings. Every single one — there's no such thing as a perfectly clean inspection, not even on new construction. The real question isn't whether they found something, it's whether what they found is a structural or safety issue worth negotiating over, or a normal maintenance item that comes with owning any home.

A missing GFCI outlet and a cracked foundation are not the same conversation. A good agent helps you tell the difference without panicking or getting talked into ignoring something real.

08/22/2026

A question I get constantly: 'who pays my agent — do I owe a commission?' Usually not out of your own pocket. In Illinois, buyer agency fees are typically covered out of the seller's proceeds at closing, which means you generally get full representation — someone negotiating specifically for you — without writing a separate check for it.

That structure changed a little after the NAR settlement (you'll sign a buyer agency agreement up front that spells out how your agent gets paid), but the practical experience for most buyers hasn't shifted much.

08/21/2026

This is the question I hear most, and it's usually less about the math than about a number stuck in someone's head. A lot of buyers assume they need a near-perfect credit score and a big down payment before the conversation is even worth having — neither is really true.

Lenders look at your whole financial picture: income, debt, credit history, not one score in isolation. Plenty of buyers close on homes with credit in the 600s. The only way to know your real number is to actually talk to a lender, which costs nothing and takes less time than people expect.

Anyone else assume they needed 'perfect' before they started looking?

08/21/2026

I get asked a lot of things in this job — client calls, open houses, even parents on the sideline at my kids' baseball games once they find out what I do for a living. But five questions come up more than any others:

1. Can I actually afford to buy right now?
2. Do I owe my agent a commission?
3. The inspection found something — is it a dealbreaker?
4. Are we headed for a crash?
5. How do I know if I've got a good agent?

Straight answers to all five, no sales pitch. Which one would you want answered first?

08/13/2026

Back-to-school shopping season means one thing every August: the receipts add up fast. Between clothes, shoes, backpacks, and school supplies for however many kids you've got, it's not exactly cheap. (Believe me, I've got four — I feel this one personally.)

Good news: Illinois brought back the back-to-school sales tax holiday, and it's running August 7–16, 2026. During that window, state sales tax drops from 6.25% down to 1.25% on qualifying purchases.

Here's what that actually covers:

→ Clothing & footwear — any item under $125
→ School supplies — no price cap, so notebooks, backpacks, binders, and art supplies are all fair game

And it's not just in-store — online orders count too, as long as they're placed and paid for within the window.

One honest catch: local sales tax still applies, so you won't see a $0.00 tax line. But it's still a real cut, and if you're already spending the money, you might as well spend it during the window that saves you something.

Save this now, set a reminder for Aug 7, and go into back-to-school shopping already ahead of it — instead of finding out about this holiday on August 17th like half of Lake County will.

Know a family who needs this? Send it their way. 👇

08/12/2026

Lake County's Real Estate Market Is Actually Three Markets

A breakdown of the county's single-family, condo, and luxury segments — and what each one means for buyers and sellers right now.