Real Estate Information
Bryan Bomba Group's Blog
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I think that it is a bit more than coincidence that the 2013 year-to-date graphs for the median price of residential real estate in DuPage County and the year-to-date performance of the DOW look remarkably similar. What do you think?
The former space of Grant Square restaurant in Hinsdale is going to be occupied by Yia Yia's Pancake House & Restaurant. The breakfast and lunch concept will be executed by the same people who own the Prasino restaurant group (Wicker Park, St. Charles, Rosemont & LaGrange).
The expected opening is April 1, 2014.
Find a great residential real estate broker anywhere in the USA. It is easy. Just ask.
As a result of the numerous luxury real estate groups which I have become involved with over the years, I know who are the best agents in the major markets anywhere in the USA. So if you find yourself wanting to buy a second home in another market or considering a job relocation afar, just reach out to me ahead of time and I will give you the name and contact information for a great real estate agent anywhere in the United States.
Why? Because these good agents will do the same for me. I connect local people with out-of-area agents every week of the year. And sometimes, out-of-area may just mean 25 miles away. When in doubt, just ask. E-mail me at Bryan@BryanBomba.com with the area of interest and I will connect you with a local expert.
The former Apple execs who created the retro-cool Nest thermostat for your house, have made another boring household component cool. Your smoke detector. The Nest people have eliminated all that was mundane and annoying about a smoke detector and made it hip. Watch the video and let me know what you think.
The difference between the asking price of a house and its ultimate sales price is called list-to-sales-price ratio. It is a simple calculation of the sales price over the asking price. Typically, the listing priced used is not the original asking price. rather, it is the asking price at the time the house sells.
When the list-to-sales-price ratios are in the mid 90's, that is one sign of a healthy real estate market. Right now, here are the current list-to-sales-price ratios for the following towns:
Clarendon Hills 98%
Western Springs 97%
If you have specific questions about pricing, just email me Bryan@BryanBomba.com
If your home is going to be vacant for any extended period of time this winter, now is the time to have it winterized. Presuming that we have a normal winter in Chicago, it is likely that we will have a hard freeze. If your house is not winterized and your heating system fails for any reason(power outage, battery on thermostat dies or it's just too darned cold), there are a lot of bad things that could happen. Most are water-related. Pipes can burst. Water heaters can crack and leak. You get the idea.
The winterization process process means different things to different people. Typically, it involves turning off the water and draining anything that has water in it. Like pipes, water heaters and toilets.
Winterizing your own home it is not that difficult, especially if you have a forced air furnace. Most people prefer to use a contractor. If you don't know who to call, ask me. I'm sure that I "gotta guy" for you. Email me at Bryan@BryanBomba.com
Now is the time to give your home a once-over prepare it for winter. By doing so, you will make your home more comfortable, increase its energy efficiency and prolong the lifespan of your home’s components.
- Have your landscaper perform a fall clean-up.
- Make sure that your gutters are clean and free from debris before it starts snowing.
- Check all the weather stripping around windows and doors to prevent heat loss.
- Aerate the lawn, re-seed, and apply a winterizing fertilizer to promote deep-root growth come spring.
- Detach the exterior hoses form the exterior plumbing supplies
- Have your in-ground sprinkler winterized
- Arrange for snow plowing service and/or have your snow blower serviced
- Bring all seasonal tools inside and spray them with a coating of lightweight oil to prevent rust.
- Make sure you have an ample supply of ice melt or sand on hand for steps, walkways, and the driveway. Salt tends to be the most corrosive material. Take a look at salt alternatives.
- Have your furnace/central humidifier serviced
- Have your fireplace cleaned and checked.
- Set your winter programs on your programmable thermostats
If you choose not to perform these tasks yourself, contact me. “I gotta guy”.
This week, I attended the 5th annual Chicago VIP Luxury Summit at the Merchandise Mart in Chicago. The purpose of the event was to put together professionals from the luxury market to see what trends are developing. The event included luxury home builders, architects, designers and real estate brokers.
From my point of view, the following were the noteworthy items:
- JPMorgan Chase said that the household wealth is now higher than it was at the peak of the real estate bubble
- It is now more difficult to finance luxury real estate than it has ever been due to tightened lending standards
- Home sales are up in all categories. That does not mean that prices are up; just that the sales velocity is up.
- The economic recovery is on track
- Housing supply is down
- There is an under supply of lots and new construction
- Milton Pedraza from The Luxury Institute noted that more experiential items are selling (travel/wine) than non-experiential (handbags). The affluent are paying more attention to values.
Sometimes opportunity only knocks once. And this could be one of those instances.
If you have been looking to buy a home in Hinsdale IL, you already know that the average asking price is $1,483,981. Undoubtedly, you have seen how under supplied the home inventory is in the $500,000 to $600,000 price range.
Here is a chance to own a beautiful home in the beautiful 60521 zip code for $525,000. It is conveniently located in the Monroe grade school area-about a block from the west Hinsdale Metra train station. Better yet, it is in true move in condition. Hardwood floors. Fireplace. Updated kitchen. Finished basement. 2 car garage. It is all here.
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