Blog Dog - Lyn Sims NW Suburban Chicago IL

Bartlett Illinois Homes - $450,000 and up - Is anything selling?

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Mon, 05 Jan 2009 17:08:33 -0600

Bartlett Illinois Homes - $450,000 and up - Is anything selling? Update for the Luxury Home Market

Well, to answer your question, YES! There have been 14 sales so far this 2008 year for the $450,000 and up single family market. What are some marketing tips that you might want to know about if you are planning on selling your home?

Out of the total 14 sales, only 1 home was built before 1992.

Out of the 14 sales, 13 homes were built after 2000. They are considered 'newer' homes offering most of today's features that buyers request. Hardwood floors, stainless steel appliances, open floor plans with 'Greatrooms', fireplaces, crown molding, basements, remodeled kitchens, remodeled baths, 3 car garages, brick and stone facades.

The top selling price has been $1,100,600 and the average days on the market for this group is 224. There are a few sales that have been only on the market for 7 to 30 days which is EXCELLENT considering all the bad market press that we've gotten recently.

List price to sales price ratio has been from 92% to 98%. That equates to 2% to 8% off the stated list price. The normal ratio used to be around 3% during the 'good old days' with a fast paced market. One property did have a 21% sales price ratio which is very unusual and another instance of a foreclosure sale where that ratio was only 3%. Go figure!

My advice to sellers after offering this research is buyers do not want to do any work! As I reported previously in other posts, buyers are going to pick the best house for the lowest price with the least amount of work involved! Newer is selling - newer features are selling!

NO WORK involved. NONE being zero. No wallpaper removal, no painting, and for heavens sake no kitchen remodel! I’ve also noticed that buyers are becoming 'overwhelmed' with the process remodeling entails even in their heads. So a warning to all sellers reading this – your agent is not making this stuff up! Buyers do not want to remodel your house! They don’t want to change the 80’s wallpaper that you don’t even like any more!

Wanna see the RE/MAX Market Share in Bartlett?

Lyn Sims (847)230-7324 at RE/MAX Suburban

The Blog Dog knows Bartlett!

Email her at: LynSims@remax.net

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Streamwood, Elk Grove Village, Schaumburg, Hoffman Estates, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Sources: MRED MLS Northern IL, January-December 2008 Closed Sales in coop with MRED.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Bartlett Illinois Homes 450,000+ and up - Is Anything Selling? - 2008 Lyn Sims www.RealEstateConsumerInfo.com

Bartlett Illinois Buyers - Great tip for peace of mind - Buyers Agent Lyn Sims (847)230-7324 - Bartlett IL Home Sale

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Sat, 13 Dec 2008 13:31:54 -0600

WHAT IS A HOME WARRANTY AND HOW DOES IT WORK?

WHAT WILL IT DO FOR ME AS A BUYER?

A home warranty can give a purchaser peace of mind. If anything catastrophic happens in the house, you are only financially liable for the deductible. So if the furnace goes out one evening and you just can't get it going (as long as it is maintained and not abused) you would call the warranty company and they would send out a technician to fix/repair/replace the furnace depending on the problem. So yes, if the furnace did indeed blow up (heat exchanger) you would get a new furnace of comparable quality. You cannot choose the technician or company involved but for years my clients have used these warranties with no problems. You just have to give up a little control with that extra peace of mind.

What if the house is a disaster? Foreclosure? You can only guess from the home inspection how the systems and appliances were previously treated. In some homes it is completely obvious that they haven't been maintained at all! The particular system or appliance must be in working order as of the closing for the warranty to cover that particular item. So if you purchase a home where the dishwasher is not working or cannot be fully tested, the dishwasher would be excluded.

WHAT WILL IT DO FOR ME AS A SELLER?

It can offer the buyer peace of mind and bolster their faith that all the appliances and systems in the house can be repaired if anything does go wrong. The nominal deductible seems very reasonable when a service charge alone is usually double the deductible. Normally I wouldn't suggest this if you have a new furnace or this is a newer home. The perfect selling solution for a home and a warranty is where the furnace is around 10 years old and all the appliances have been well maintained and cared for but varied ages.

As a seller, your home would be covered as of the listing day thru the closing day. Then the warranty would transfer on to the buyer at closing and then continue for that full year. The warranty is paid for at the closing.

Currently these two companies are RE/MAX Benefits Partners which lets me offer you a reduced price on warranty policies given thru my company for listing or buying a home thru me. Depending on the sized home and features covered this can be up to a $750 value.

Possible Savings: AC or Heating System $1250 to $5000

Washer or Dryer $200 to $1000

Stove $500 to $1400

Refrigerator $600 to $1200

Water Heater $375 to $800

Home Component Life Expectancy Article

A home warranty is a service contract, normally for one year, which helps protect home owners/home buyers against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.

Check each home warranty policy from each company to see which of the following items are covered and which company you prefer. Also find out if the policy covers the full replacement cost of an item.

Plumbing
Electrical systems
Furnace
Water heater
Heating ducts
Water pump
Dishwasher
Garbage disposal
Stove/cooktop/ovens
Microwave
Refrigerator
Washer/dryer
Swimming pool (may be optional)

Deductibles are usually $55 - $75 - $100 depending on what plan you select for 'EACH' occurance.

HERE ARE TWO RELIABLE COMPANIES THAT OFFER POPULAR PLANS FOR YOU TO CHOOSE.

Show me what Home Warranty of America Offers

Globe Warranty Coupon

Show me what Globe Home Warranty Offers

Lyn Sims (847)230-7324 at RE/MAX Suburban

The 'Blog Dog' knows Bartlett!

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles, Elk Grove Village, Schaumburg, Hoffman Estates, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream and more importantly, want to work with a local area expert, contact me immediately.

Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Buyers - Great Tip for peace of mind©2008 Lyn Sims - TheBlogDog.net

Bartlett Illinois Village Profile

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Mon, 01 Dec 2008 11:56:56 -0600

Bartlett is a great small community located in Cook, DuPage and a small part in Kane Counties. The population was 40,344 by the 2006 census and has definitely grown from the original 360 in 1900. Bartlett was incorporated in 1891 after Luther Bartlett who offered the right of way thru his land to the Chicago and Pacific railroad. The village has retained it's original railroad station built in 1873 in the downtown area.

The commuter station is the Metra Milwaukee West Line. Train time to Chicago Loop - 50 minutes
Monthly fare to Chicago Loop - approximately $116.10

Bartlett Bike Path System is 19.6 miles and is a favorite with cyclists.

The Village owns and operates Bartlett Hills Golf Club. The 18 hole course includes a full-service clubhouse and restaurant. The course is primarily funded by user fees and a small portion of the property tax bill. Villa Olivia Country Club operates an 18 hole golf course which includes a clubhouse, banquet facility and downhill ski hills for regular skiing and snowboarding. Snow is produced as necessary for the ski hill which is literally very "cool".

Apple Orchard Golf Course - This public, nine-hole course is open April 1 through October 31 and is the site of league play, special events, outings and lessons.

Bartlett Community Center - This equipped facility features everything from racquetball courts, an aquatic center and a health and fitness club to a triple gymnasium, running track and studios for fitness and dance.

Bartlett Hills Golf Club - This beautifully manicured 18-hole course has received a 4.5-star rating on Chicagoland Golf's Top Public Courses. The equipped clubhouse is home to a delicious restaurant and banquet/meeting space for up to 200.

Bartlett History Museum - Spanning 1,200 feet on the first floor of the new Village Hall, the Bartlett History Museum is teeming with a number of displays exhibiting local artifacts, images, archives and more.

Bartlett Nature Center - Located at the James "Pate" Philip State Park, the nature center houses displays and collections associated with nature, along with live animals, a resource library and a variety of programs designed to promote Bartlett's natural areas.

Bartlett Skate Park - This 10,000-square foot site offers skateboards and inline skaters ramps, rails, ledges and more.

Farmer's Market - Held during the warmer months, every Friday from 2:00 p.m. to 6:00 p.m. at Jensen Pavilion, the local Farmer's Market is stocked with vendors offering fresh produce, flowers, hand-made jewelry, bread and many other items.

Splash Center - Perfect for the whole family, this indoor water park is comprised of a lap/dive pool, leisure pool, a water spray feature, a 12-foot water slide and a child slide.

Lots of open space, forest preserve and nature sanctuaries include extensive acreage from the District of Cook and DuPage Counties. Each preserve is listed below. Park Sites listed farther below.

Forest Preserve District of Cook County

Poplar Creek

4,406 acres

Forest Preserve District of DuPage County

Hawk Hollow	1,166 acres
Pratt Wayne Woods	1,281 acres
Wayne Grove	71 acres
West Branch - Upper	801 acres
West Branch - Lower	937 acres

Illinois Department of Natural Resources

Tri-County State Park

541 acres

All public schools are entirely within District U46. U46 serves an area of some 90 square miles and almost 40,000 children are within it's boundaries. U-46 is the 2nd largest school district in Illinois.

The list average price of single family homes in Bartlett is $397,800. The average price of "multi-family" homes which would include townhomes, condos, etc. is $251,400. Obviously there are homes in all prices ranges to choose from, those were just the averages.

Village Profile

Aerial Map of Bartlett Businesses

GIS Web Portal for Bartlett

Village of Bartlett Website

This is just a short overview of a great town named Bartlett. If you are looking to buy or sell a home in the Bartlett Illinois area, please feel free to contact Lyn Sims of RE/MAX Suburban at (847)230-7324 or (800)637-9345. Lyn can provide you with copious amounts of information on the many surrounding areas!

Lyn Sims (847)230-7324 RE/MAX Suburban

The 'Blog Dog' knows Bartlett

Serving Bartlett, Streamwood, Carol Stream, Bloomingdale, Hanover Park, Elgin, South Elgin, Schaumburg, Hoffman Estates, St. Charles, Carol Stream, Roselle, Medinah and Itasca areas of Northwest Suburban Chicago.

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it's display or use.

Bartlett Illinois Village Profile -2008 Lyn Sims and TheBlogDog.net

Park Sites & Facilities	Locations	Acres
1. Ancient Oaks Park	Thousand Oaks Drive & Ancient Oaks Court	3.5
2. Apple Orchard West Park	696 West Stearns Road	77
T.C. White Administration Building	696 West Stearns Road
Apple Orchard Golf Course	696 West Stearns Road
Nature Center	696 West Stearns Road
Donald H. Schrade Gymnasium	696 West Stearns Road
Maintenance Facility	696 West Stearns Road
3. Apple Orchard Greenway	Martingale Drive & Cuyahoga Drive	8
4. Bartlett Aquatic Center	620 West Stearns Road	5
5. Bartlett Community Center	700 South Bartlett Road
LIFECENTER Health & Fitness Club	700 South Bartlett Road
The Oak Room	700 South Bartlett Road
Splash Central	700 South Bartlett Road
O'Brien Woods Interpretive Trail	700 South Bartlett Road
6. Bartlett Park	102 North Eastern Avenue	4
Bartlett Gazebo	102 North Eastern Avenue
Log Cabin	102 North Eastern Avenue
7. Bartlett Skate Park	620 West Stearns Road
8. Beaver Pond	Braintree Lane & Kingston Lane
9. Camelot on Mayfair	Camden Lane	11.2
10. Fairview Park	Woodland Hills Prkwy. & Woodland Hills Dr.	4
11. Firefighters Park	Lela Lane & Ford Lane	1
12. Glenn A. Koehler Fields	Route 25 & West Bartlett Road
13. Green Meadows Park	Lynnfield Lane & Stearns Road	3.5
14. Happy Trails Park	Woodland Hills Dr. & Forest Preserve Dr.	4.5
15. Hilltop Park	Bay Meadows Drive & Keenland Drive	7.1
16. Hidden Oaks Park	Hamilton Court	3.2
17. Humbracht Park	Struckman Boulevard & Silver Circle	10.7
18. Huntington Meadows	Woodland Hills Drive & Saddle Ridge Place	3.2
19. Kermit's Korner	Park Place Drive	1.6
20. Kjar Park	Snowdrift Circle	5.6
21. Leiseberg Park	285 East Devon Avenue	12
22. Nature Ridge Park	Westridge Boulevard & Butler Drive	30
23. Newport Park	Newport Boulevard	3.1
24. Oak Grove Park	West Devon Avenue & Holly Drive	12.9
25. Peregrine Park	Peregrine Parkway & Horizon Drive	1.1
26. Prairieview Park	Superior Circle & Beaumont Court	11.8
27. Schick Park	Beacon Lane & Mayflower Lane	5.3
28. Schoppe Park	Taylor Avenue & Crest Avenue	11
29. Schrader Park	Fairfax Circle & Penny Lane	10.7
30. Struckman Basin	Struckman Boulevard	4
31. Sunrise Park	Foster Avenue	43
Sunrise Disc Golf Course	Struckman Boulevard & Appletree Lane
32. Sunset Park	Struckman Boulevard	13
33. Tallgrass Park	Tallgrass Drive & Millwood Drive	7
34. Trails End Park	Millwood Drive & Newport Boulevard	19.2
35. Vallyview Park	Westridge Boulevard	25
36. Walnut Corner	Route 59 & Red Oak Drive	0.3
37. Winding Creek Commons	Francine Drive & Gingerbrook Lane	7.3
38. Windy Oaks Park	Silk Oak Lane & Spaulding Road	4.4

Homes for Sale in Hanover Park Illinois - Lyn Sims (847)230-7324 REMAX SUBURBAN - Hanover Park Realtor

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Sat, 29 Nov 2008 16:47:24 -0600

BUYING A HOME SOON? Do you want to find the best home or property for your needs and to make the wisest investment possible?

Wanna get a good deal? Lyn Sims understands the importance of this major purchase to you and has the essential knowledge to ensure your buying experience is a smooth and successful one!

Here's a dozen reasons why Lyn Sims can help:

Determine your buying power and criteria.
Research available properties in your market via many resources such as the Multiple Listing Service (MLS) and a broad network of REALTORS - even if you are locating to another city.
WE HAVE ALL THE PROPERTIES LISTED FOR SALE IN ONE PLACE - THE MLS! No need to go jumping around from site to site to find a home. START MY SEARCH NOW
Show you properties that meet your personal criteria.
Give you objective information about each property.
Negotiate a price that fits your budget.
Help you understand different financing options and identify qualified lenders.
Provide up-to-date information on property values, real estate taxes, municipal services and facilities, and local zoning changes.
Recommend home inspection services to help analyze the structure and condition of the home.
Understand the complex paperwork and steps for the purchasing process.
Serve as your advisor from "offer through closing".
WE DON'T COST YOU A THING - Zip, Zero, Zilch! As a buying client you pay no fees for our services.

Lyn Sims, a veteran realtor at RE/MAX Suburban, wants to help you find your next home. Go to the 'Consumer Advisor' section of her website to learn more tips, suggestions and good old fashioned advice on searching for your new home!

Please contact me Lyn for more information!

Hanover Park Village Profile

Lyn Sims at (847)230-7324 RE/MAX Suburban

The 'Blog Dog' knows Hanover Park!

Northwest Suburban Areas of Hanover Park, Bartlett, Streamwood, Elgin, South Elgin, St. Charles, Schaumburg, Hoffman Estates, Roselle, Medinah, Elk Grove, Itasca, Bloomingdale, Carol Stream.

Homes for sale in Hanover Park Illinois - 2008 Lyn Sims and TheBlogDog.net

A Dogs Rules for Christmas - Pet Friendly Realtor, Lyn Sims

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Sat, 29 Nov 2008 14:59:48 -0600

1. Be especially patient with your humans during this time. They may appear to be more stressed out than usual and they will appreciate long comforting dog leans.

2. They may come with large bags of things they call gifts. Do not assume that all the gifts are yours.

3. Be tolerant if your humans put decorations on you. They seem to get some special kind of pleasure out of seeing how you look with fake antlers.

4. They may bring a large tree in the house and set it up in a prominent place and cover it with light and decorations. Bizarre as this may seem to you, it is an important ritual for your humans, so there are some things you need to know.

a) Don't pee on the tree.

b) Don't drink water in the container that holds the tree.

c) Mind your tail when you are near the tree.

d) If there are packages under the tree, even ones that smell interesting or that have your name on them, don't rip them open.

e) Don't chew on the cord that runs from the funny looking hole in the wall to the tree.

5. Your humans may occasionally invite lots of strangers to come visit during the season. These parties can be lots of fun, but they also call for some discretion on your part:

a) Not all strangers appreciate kisses and leans.

b) Don't eat off the buffet table.

c) Beg for goodies subtly.

d) Be pleasant, even if unknowing strangers sit on your sofa.

e) Don't drink out of glasses that are left within your reach.

6. Likewise, your humans may take you visiting. Here your manners will also be important:

a) Observe all rules in #4 for trees that may be in other peoples houses. (4a is particularly important)

b) Respect the territory of other animals that may live in the house

c) Tolerate children

d) Turn on your charm big time

7. A big man with a white beard and a very loud laugh may emerge from your fireplace in the middle of the night. DON'T BITE HIM!

Lyn Sims and the 'Blog Dog'

(847)230-7324

Zero Down, Low Down, 100% Financing Home Purchase - Lyn Sims (847)230-7324 - Streamwood Illinois Real Estate

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Sat, 29 Nov 2008 12:36:19 -0600

Looking for Zero down, Low down or 100% financing in the Streamwood IL area?

Zero down or 100% financing loans still exist in the Streamwood area. Most people will say it is not out there, but rest assured it is! You have just to know where to find it and how to make it work.

More and more homes are now being financed FHA. There are many great features of an FHA loan, but one of the most important is the flexibility of the 3.5% down payment. It can come from many sources as long as it is documented and structured properly.

Many Down Payment Assistance (DPA) programs have been instituted and approved by FHA to help borrowers achieve their home ownership dream. You may have heard that FHA DPA programs are no longer allowed. This is only partly true. 'Seller Funded' DPA programs like Nehemiah and Ameridream are no longer available, there are still many forms of FHA down payment assistance that are alive and well! Like I've said before, you just have to know where to find them and how to make them work.

I have spent quite a bit of time researching the many different programs and methods of low down payment financing available to my buyers.

Gift Funds

FHA will allow the down payment to come in the form of a gift from a family member, family friend and in some cases an employer. While this option is easy, there is a very specific procedures and documentation required by FHA for the gift funds to be used. A qualified, experienced FHA lender is vital to your transaction so that the process is executed smoothly.

Community Grant Programs

This is a great secret that I'll let you in on! There are many Community Grant Programs that are already in existence and ready to be utilized now! A Grant is a non-repayable gift that is used for the down payment and in some cases closing costs. Many of these programs are funded by municipalities to promote home ownership in their village. Each program has different qualifications, guidelines and procedures. Some programs assist teachers, police, fire and disabled citizens. Certain Grant Programs do have income restrictions and qualifying restrictions that may or not apply to you. Home inspections must be done and paid for by the buyer directly and any home that was built prior to 1978 must undergo a lead based paint inspection that the village will pay for.

Many programs also might require that the Mortgage Lender and/or Real Estate Agent be registered before they can offer them to their clients on their home purchase. It is important to find a Lender and Agent that have access to all of these programs. This will ensure that you have as many options as possible!

#1 You
#2 Experienced FHA Lender
#3 Experienced Agent like Lyn = New home!

Now you can see that there are still many, many options for 100% financing, Zero Down, Low Down on your next Roselle Area home purchase. With prices low and all the great deals out there, now is a great time to buy!

Let's talk about a 'Game Plan' for you!

Lyn Sims (847)230-7324 at RE/MAX Suburban

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Streamwood, Bartlett, Schaumburg, Hoffman Estates, Elk Grove Village, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.

Zero Down, Low Down, 100% financing - 2008 Lyn Sims and TheBlogDog.net

Not Some Doom and Gloom Report, November 2008 - Lyn Sims RE/MAX Suburban - Bartlett Illinois Homes

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Sat, 29 Nov 2008 12:27:19 -0600

The Not Some Doom and Gloom Report – November 2008

Some positive financial and real estate market results that I think you should be made aware of. With all the negative publicity day in and day out, just wanted to be sure that some positive information was also getting enough ‘air time’. So here are some of my thoughts and articles that I compiled to explain current market conditions for our area.

Part One – Mortgage Money

The media would have you believe that no one can get a mortgage out there or only the elite are doing it but that just isn’t the case. This Mortgage Banking article says that in our area for the first half of 2008 we were churning out the loans – 20,009 to be exact in Cook County. We happen to be #2 in the entire U.S.

People are refinancing their homes for whatever reason and that is also moving along smoothly with Cook County leading the way and then DuPage County in the 11th spot. That’s a total of 92,099 people that refinanced their home successfully in our area!

So where’s that shortage of mortgage money everyone is talking about?

Top 25 Counties Nationwide for Purchase Markets – June 2008

#2     Cook County IL 20,009             $4,300,222,907

Top 25 Counties Nationwide for Refinance Markets – June 2008

#1     Cook County IL 73,805                 $14,013,656,297
#11 DuPage County IL       18,294                 $ 3,436,779,303

PDF of Mortgage Banking Article, November 2008

Part Two – Price and Sales

Highlights from the National Assn. of Realtors – Housing Report on Sales (Prices across the U.S.) - Four out of five metropolitan areas recorded lower home prices in the third quarter from a year earlier, while existing-home sales fell in 32 states from the second quarter.

In the third quarter, 28 out of 152 metropolitan statistical areas showed increases in median existing single-family home prices from the same quarter in 2007; four were unchanged and 120 metros experienced declines. NAR’s track of metro area home prices dates back to 1979.

Distressed sales, foreclosures and short sales - accounted for 35 to 40 percent of transactions in the third quarter, pulling down the national median existing single-family price to $200,500, which is 9 percent lower than the third quarter of 2007.

A year ago, when there were significantly fewer distressed transactions, the median price was $220,300. The median price is where half of the homes sold for more and half sold for less.

Strongest Sales Gains - The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent.

The steepest declines in single-family home prices in the third quarter were in three California markets: the Riverside-San Bernardino-Ontario area, where the median price of $227,200 dropped 39.4 percent from a year ago, followed by Sacramento-Arden-Arcade-Roseville at $212,000, down 36.8 percent from the third quarter of 2007, and San Diego-Carlsbad-San Marcos, where the price dropped 36 percent to $377,300.

The largest single-family home price increase in the third quarter was in the Elmira, New York area, where the median price of $105,000 rose 12.5 percent from a year ago. Next was Decatur, Illinois at $93,400, up 8.7 percent from the third quarter of 2007, followed by the Bloomington-Normal, Illinois area, where the third-quarter median price increased 8.1 percent to $168,400.

The typical seller purchased their home six years ago and is experiencing net equity gains. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

Condo Markets –
The strongest condo price increases were in the Dallas-Fort Worth-Arlington area, where the third quarter price of $149,900 rose 11.1 percent from a year earlier, followed by Bismarck, North Dakota at $148,000, up 11 percent, and the Houston-Baytown-Sugar Land area, where the median condo price of $134,100 rose 8.1 percent from the third quarter of 2007.

The second most expensive condo market reported was the New York-Wayne-White Plains area of New York and New Jersey at $324,000, followed by Honolulu at $322,000.

Other affordable condo markets include the Indianapolis area at $113,500 and the Cincinnati-Middletown area of Ohio, Kentucky and Indiana, at $117,300 in the third quarter.

Part Three - Market Snapshot by Regions

Midwest: existing-home sales rose 2.7 percent in the third quarter to a pace of 1.15 million but remain 10.6 percent below a year ago. The median existing single-family home price in the Midwest declined 5.5 percent to $159,900 in the third quarter from the same period in 2007. After Decatur and Bloomington-Normal, the next strongest metro price increase in the Midwest was in the Wichita, Kansas area, where the median price of $125,300 was 5.5 percent higher than a year ago, followed by Champaign-Urbana, Illinois at $146,400, up 2.7 percent.

Part Four – Markets on the Upswing

Top 10 Most Promising Housing Markets across the U.S. according to Housing Predictor, which provides housing forecasts in 250 markets, has identified 10 markets where the regional economies are healthy and have strong potential for increasing prosperity.

These housing markets have bucked the national trend in 2008 and avoided the subprime crisis, the consultancy says. Whatever the future holds for the housing market as a whole, Housing Predictor forecasts that these cities will continue to see steady, dependable growth.

Top cities and the percentage sales prices have increased so far in 2008.

Biloxi, Mississippi, 4.9 percent
Salem, Oregon, 4.7 percent
Bismarck, North Dakota, 4.6 percent
Spokane, Washington., 4.4 percent
Yakima, Washington, 4.1 percent
Austin, Texas, 4.0 percent
Grand Junction, Colorado, 4.0 percent
Fargo, North Dakota, 4.0 percent
Mobile, Alabama, 3.9 percent
Albuquerque, New Mexico, 3.5 percent

Part Five – Even the rich folks are having problems!

The Priciest Real Estate Markets across the U.S. where more than 43 percent of sellers of luxury homes have had to reduce their prices, according to one study of high-end home sales. The Institute for Luxury Home Marketing’s newly launched Luxury Housing Report says that homes in ZIP codes at the top end of the housing market are selling more slowly, up from 110 days on the market in May to 130 days in September.

Median prices have remained stable at a $1.154 million, or $336 a square foot, about the same as September.

Here’s the situation in the top 10 priciest markets and the average days on the market:

1.   Atlanta: Median price, $788,062. Average days on market: 123
2.   Boston: $1.45 million, 125
3.   Chicago: $1.48 million, 153
4.    Dallas: $844,036, 120
5.    Honolulu: $1.15 million, 110
6.   Las Vegas: $482,197. Inventory, 137
7.   Miami: $1.96 million, 220
8.   New York: $3.6 million, 186
9.   San Diego: $2.1 million, 83
10.   Seattle: $1.1 million, 113

The info is presented to show that all real estate is local and that trends in our own area are the ones that we should follow. Sometimes the media only tells a generalized and sensationalized story. That’s what keeps people tuned in after all!

So it seems that foreclosures are selling first and fastest. Would only make sense because those prices are lowest and offer the most perceived value. Foreclosures in some areas are still receiving multiple offers.

Not everyone in every area is in a declining market.

Lyn Sims (847)230-7324 at RE/MAX Suburban

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles, Schaumburg, Hoffman Estates, Elk Grove, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream and more importantly, want to work with a local area expert, contact me immediately.

Sources: Daily Real Estate News | November 18, 2008 Source: NAR Daily Real Estate News | November 17, 2008 Housing Predictor (11/15/08) | The Wall Street Journal, Robert Frank (11/11/08)

All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.

Not Some Doom and Gloom Report - November 2008 Lyn Sims and TheBlogDog.net

Hanover Park Village Profile - Hanover Park Illinois Real Estate - Lyn Sims (847)230-7324 REMAX Suburban

Lyn Sims and the Blog Dog (RE/MAX Suburban) — Wed, 19 Nov 2008 17:05:43 -0600

Hanover Park Village Profile

Hanover Park's roots as a settlement reach back into the 19th century, but our growth into a community of nearly 12,000 families really started in the 1950's. 30 miles northwest of Chicago. Scores of new homes rose on former farm sites and prairie 30 miles northwest of Chicago.

Today, Hanover Park boasts the youngest residents of any Chicago northwest suburb, with a median resident age of 29.7. The spirit and energy of youth is visible throughout the community. Hanover Park is a family community with plenty of neighborhood sports teams and activities available for young families. Hanover Park neighborhoods are filled with children.

Hanover Park is conveniently located 17 miles from O’Hare International Airport and is 45 minutes from downtown Chicago via the Metra West Line. Hundreds of commuters board Metra commuter trains each weekday at the bustling Hanover Park commuter station, which has seen the fastest growth of any West Line station.

Golf courses, country clubs, recreational complexes, theaters, and semiprofessional sports abound in neighboring communities. Entertainment opportunities in the Chicago metro area include professional sports, museums, opera, art exhibits, symphony, and theatre.

Hanover Park’s School Districts are well known for providing quality education to area students and preparing them for the challenges of the future. Hanover Park is served by seven K-12 school districts. Local continuing education opportunities are provided by three area colleges. Renowned Chicago colleges and universities are within commuting distance.

Keeneyville Elementary School District 20
School District U-46
School District 54
School District 87
Consolidated School District 93
Lake Park High School District 108
Township High School District 211

Private School Directory

The Hanover Park Park District maintains approximately 180 acres of parks and bike paths. Picnic areas, tennis, and basketball facilities are available at many of the community’s parks. During the winter, snow-covered hills and cleared ponds are open for sledding and ice-skating.

Link for virtual tours of all Hanover Park Parks - includes locations and sizes of different parks.

Mallard Lake Forest Preserve The south side of Hanover Park is surrounded by a large portion of the DuPage County Forest Preserve District. To the east of County Farm Road, Mallard Lake Forest Preserve offers fishing piers, a reservable shelter, a dog exercise area, parking, and a bike path. There are great wildlife observation opportunities at Mallard Lake including meadowlarks, great-horned owls, red-tailed hawks, and kestrels.

Hawk Hollow Forest Preserve Soon the Hawk Hollow Forest Preserve, which lies to the west of County Farm Road, will be connected to the Mallard Lake Forest Preserve via a bike path. Hawk Hollow is comprised of 1,166 largely-undeveloped acres. Hawk Hollow offers great views of the West Branch of the DuPage River Valley. The river meanders through Hawk Hollow from north to south. Hawk Hollow is home to 530 plant species including wild bergamot, prairie sunflowers, wild geranium, and white, bur, red, and black oak trees. Hawk Hollow is also home to 132 different animal species including several which are endangered or threatened; black-crowned night heron, great blue heron, red-tailed hawk, redheaded woodpeckers, mink, raccoon, coyote, dear, and beaver to name a few!

An exciting aspect of living in Hanover Park is the beautiful natural surroundings of the community. Recreational and open space abound. The outdoors can best be enjoyed with family, friends, and neighbors at one of Hanover Park’s many parks!

Complete Community Directory for Hanover Park

Lyn Sims (847)230-7324 at RE/MAX Suburban

The 'Blog Dog' knows Hanover Park!

I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Hanover Park, Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.