Real Estate Information

If you would prefer just to move right into your next new home without the hassle of doing work beforehand, this may be an option for you. This home is so pampered, so incredibly well taken care of, as shoes are not permitted on the floors. And that is why they look so perfect. Now take this concept and apply it to the entirety of the home and you are left with a house devoid of any physical deficiency. It looks, feels and performs like a house that is much newer than an 8 year old home. If you would like to see for yourself, feel free to either see the interior photos of 443 S. Quincy in Hinsdale or contact me for your own private demonstration of this house.

Many of the North/South streets in Hinsdale IL have higher-than-typical traffic flow. Not this one. It is very quiet. The house is nicely situated far enough from Route 83, 55^th Street and the Metra tracks so as not to be adversely impacted by them either. As you can see by the Google map of Hinsdale, 443 S. Quincy is idyllically located.

The walking distance to the West Hinsdale train station is so convenient,  you will be the envy of your office. Everyone at work will wish they had a commute to the train depot measured in steps, not miles. The walk to Madison Elementary School is manageable as well.  

When this home was built by Ron Albergo, the current owners were enamored with the room sizes over those of competing homes. This was particularly true of the bedroom sizes. It is definitely true of the large size of the master bedroom closet. 

The flooring is hardwood on both the first and second floors. This is a much cleaner option, specifically if you have kids.

The garage is both attached and heated, neither are bad ways to take the edge off of Chicago winters.

If you are seriously considering the purchase of a Hinsdale home in this price range($899,900), this is one not to miss. Call me at 630-455-8455 to arrange a private demonstration of the home. You will be glad that you did.

As reported in Crains...

By: Mary E. Morrison January 05, 2012

 (Crain’s) — Pulte Group Inc. has agreed to buy 45 bank-owned lots at a stalled development in the western suburbs, continuing a trend of publicly held home builders buying up distressed land.

The lots are part of the Savoy Club, a 52-lot development in Burr Ridge that was partially built by Westmont-based developer Callaghan Associates before its lender, Midwest Bank & Trust, filed a foreclosure lawsuit against the project in February 2010.

Three months later, Midwest was shut down by regulators and its assets sold to FirstMerit Bank. Pulte has agreed to buy the lots from Akron, Ohio-based FirstMerit, according to people familiar with the transaction.

A sale price could not be determined, but the lots were most recently listed at $10.5 million.

The project is south of 79th Street between County Line and Wolf roads in the western suburb.

Pulte plans to build single-family homes similar in size to those built by Callaghan, ranging from 2,600 to about 3,400 square feet, sources say. Like Callaghan, Pulte also plans to target empty-nesters with features including first-floor master bedroom suites.

But Pulte plans to price the homes from about $575,000 to $700,000, a significant drop from Callaghan’s prices, which ranged from about $900,000 up to $1.5 million.

Even at those lower prices, Pulte may face the challenge all homebuilders face in today’s market: persuading people to buy new homes when Chicago-area existing-home prices have fallen about 30% from the market’s peak in 2006, according to the Standard & Poor's/Case-Shiller indices.

Yet the reduced pricing, combined with the site’s location close to the Stevenson expressway and Burr Ridge restaurants and shopping, could improve Pulte’s chances and bode well for the development, says Beth Burtt of Hinsdale-based Brush Hill Realtors, who is not involved in the sale.

“We don’t have a lot of choices for empty-nesters in our area,” she says.

A spokeswoman for Bloomfield Hills, Mich.-based Pulte declines to comment; a spokesman for FirstMerit did not return a call.

Pulte led homebuilding companies in the Chicago area in sales volume for the first nine months of 2011, with 314 transactions, or almost 14% of all units sold, according to residential consulting firm Tracy Cross & Associates Inc.

Pulte has been aggressive about acquisitions in the past 18 months, said Tracy Cross, pointing to deals the company has made in distressed townhome developments in Burr Ridge, Arlington Heights and Park Ridge.

Custom homebuilders with high-end prices dominate Burr Ridge, said Mr. Cross, president of the Schaumburg-based firm. As a result, homes by a large public company, which can build cheaper, will appeal to buyers.

“A production builder with Pulte’s discipline will take a more serious view at people’s income and ability to sell their homes, instead of pricing like the go-go days of 2006,” he said.

While it has been just one business day old, the real estate market feels good right now.

The phone has been ringing off the hook today. And the calls have been "solid". I have had three buyer referrals called into me today. One was a buyer from the city who does not need to sell their home and wants to buy up to $2,000,000. The second is an out-of-state buyer whose company is buying their home. They want to buy in the Hinsdale area up to $1,200,000. The third was a referral from a real estate broker on the north shore who has buyers who want Hinsdale only. Their target price range is $1,100,000 to $1,500,000.

Before 9:30 this morning, I had 2 showing requests for a property that I am marketing for $2,099,000.

This afternoon, I received an offer on a property that I am marketing for $1,950,000.

I had met a builder for lunch who wants me to market a new to-be-built home for $1,299,900 as well as sell a spec home for him that he has rented out for the past few years.

If this is any indication as to what 2012 will bring, I had better stock up on my Five Hour Energy drinks right now.

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If you ready to let someone else take care of exterior maintenance, you may be on the right track by reading this piece. This is particularly true if you want to live in Hinsdale and be in the Hinsdale Central High School District.

If you have been looking for homes in Hinsdale, you know that this premium location commands a premium price. If you have not yet been looking click here to check the current MLS inventory level in all of Hinsdale.

The Ashbury neighborhood is unique:

• A way to buy into Hinsdale for less than $350,000
• All brick construction
• Two car attached garage
• Over-sized master suite with fireplace, vaulted ceiling, balcony & fireplace
• Hardwood floors
  
• Nicely finished lower level with guest room
• All District 181 Elementary Schools (this is a big deal) and Hinsdale Central High School (About three blocks away)

To see the interior of this fantastic home, click here.

To arrange a private viewing in person, contact Bryan Bomba at 630-455-8455 or Bryan@BryanBomba.com.

Thanks for reading.

Great news. This week Congress has decided to save the incandescent light bulb from a mandatory phase-out, which was to begin 1.1.2012.  The decision will prevent the United States Department of Energy from enforcing the laws in favor of more efficient bulbs.

From my point of view, this is good news as I strongly prefer the use of incandescent light bulbs. Whenever I market a home, the incandescent bulbs are my bulb of choice as they leave the prospective buyer with a sense of warmth. The light from traditional incandescent light bulbs has a warm yellow hue which looks great in photographs as well as in person.

In all cases that I see something other than incandescent, particularly compact fluorescent bulbs, I ask the home owner to replace them with incandescents. The light from the compact fluorescent bulbs (CFB) is just cold and obnoxious. It does not evoke the types of feelings that are conducive to the buying experience.

There are cases where halogen lights look great as well, but these burn hotter and cannot be used in all light fixtures.

Once the CFB's offer a light that looks like an incandescent and lights up quickly (when buyers/realtors enter a room and turn on lights, they will NOT wait for light to warm up), I will then consider the CFB's. For now, I'm old school and will be stocking up on the incandescents.

This is hot news!

Hinsdale is a town where the average asking price is $1,279,000. This house is priced at $439,000. If you have been looking to buy a home under $600,000 in the greater Hinsdale area, you know it is not easy. 229 S. Clay in Hinsdale is a rare opportunity to own a great house in an unbelievably flawless location. If you are at all serious about buying a home in Hinsdale anywhere near this price range, do not miss out. This is such an extreme offering that people will be talking about the one that got away for months.

It is located on a block that most Hinsdaleans fantasize about. Imagine the daily convenience of having an amazingly short (and I mean short) walk to the main Hinsdale Metra station, Madison Grade School, Hinsdale Middle School, downtown Hinsdale and St. Isaac Jogues. Better yet, the houses are beautiful on this very low traffic, very quiet street.

The home is in absolutely excellent condition. From the moment you walk in. It is clear that the owner has loved this house and pampered it along the way. It could not be any cleaner, either. And the decor is so neutral, it works with whatever decorating style you desire. All in, it is a complete turn key opportunity for $439,000. Take a look inside 229 South Clay in Hinsdale IL 60521.

The first floor is comprised of a living room, dining room, kitchen, family room, mud room and powder room. The second floor has three bedrooms and an updated full bathroom (with heated floor). The basement is unfinished.

This is a once-in-a-lifetime opportunity to live in a dream location for a reasonable price. Do not let this opportunity slip past you.

When this marketing makes it's way to the MLS and yhe rest of the world finds out about it, do you think it will sell quickly?  If so, then call 630-286-9242 to set an appointment for your private showing. There will not be any public open houses. 

Children's Dyslexia Centers are a charitable organization run by the Masons. The focus of these centers is to offer free tutoring to children with dyslexia. Although, the group teaches individuals how to become tutors who can help kids with dyslexia.

In the near western suburbs, the nearest center is located at 47th Street and LaGrange Road in LaGrange, IL. Call 708-588-0091 for more information. In the alternate, the Children's Dyslexia center website is http://www.ValleyOfChicagoLC.org.

In the Spring of 2011, the Hinsdale Police Department was awarded grant funding for the "Public Education and Enforcement Research Study" (PEERS), sponsored by the Illinois Commerce Commission. The PEERS initiative is a project targeted for local railroad safety education and enforcement programs.

The Illinois Commerce Commission has identified the following goals of this program:

· Promote railroad safety through implementation of well-defined and targeted education and enforcement programs

· Reduce the number of train-vehicle collisions that occur in Illinois, as well as incidences of trespassing upon railroad property.

Each year in Illinois, 50 to 60 people are killed and another 70 to 100 are injured in highway-rail grade crossing collisions, or while trespassing on railroad property. In the Village of Hinsdale, there are currently five (5) grade crossings that present a conflict potential between a train and a pedestrian or motorist. Three of these busy crossings are within a block of each other, the busiest being the Garfield crossing with an average daily traffic count of 15,000 vehicles.

Pedestrian violations are regularly observed at the Hinsdale commuter stations. The warning bells and red lights mean STOP, but often times the warning bells prompt a commuter to RUN. Although many pedestrians are aware that their actions are unlawful, they are shocked when they are greeted with a $250 citation by a police officer. Like motorists, pedestrians gamble at the tracks to save time, and the consequences of gambling with trains are deadly. “Trains run on tracks, tracks that don’t move. When you obey rail signals, the train won’t hit you.”


During the month of December, the Hinsdale Police will be using grant funding to conduct strict enforcement of both vehicular and pedestrian railroad signal violations. Officers will be assigned to the Village of Hinsdale grade crossings to conduct zero tolerance enforcement in support of this initiative.


In Illinois, no pedestrian shall enter, remain upon, or traverse over a railroad grade crossing or pedestrian walkway crossing a railroad track when an audible bell or clearly visible electric or mechanical signal device is operational giving warning of the presence, approach, passage, or departure of a railroad train. When operating a vehicle, no person shall drive any vehicle through, around or under any crossing gate or barrier at a railroad crossing while such gate or barrier is closed or being opened or closed. Violating either of these laws will result in a mandatory court appearance and $250 fine for the first offense.

Safe and lawful conduct around railroad crossings is contagious. Set the example for other commuters and motorists, because if you don’t you may pay. Remember that trains always win – don’t violate warning signals! LOOK, LISTEN, LIVE!



COMMON CROSSING COLLISION CAUSES

· The person sees the train coming, but misjudges speed and distance.

· The person races the train to the crossing, and is either struck by the train, or runs into the side of it.

· As the train clears the crossing, the person immediately starts across the tracks without looking for other trains, and either strikes or is struck by a train running on an adjacent track.

· A person becomes “too familiar” with a crossing and uses no caution when approaching the crossing.

· A person is incapable of making a clear decision due to alcohol.

The demand for rental housing is outstripping the supply. The prospective lessees for rental homes include many types of people. Those who are in a distressed economic state including families that are in short sale scenarios and foreclosures are a prime example. These families, because of their bruised credit scores, will not be able to purchase for some time. With this single category alone, these type of families will be renting for five or more years.

Additional categories of renters include those corporate folks who move to town knowing that they will only be here for two or three years. Or, those corporate folks who just do not know what is going to happen with their current position.

Young people, like those who may have just finished college or grad school, may be opting for a rental scenario as well.

Any way you slice it, rental property is in high demand. Supply is low. As such, rental prices have been increasing. No surprise there, right?

This is causing an interesting situation for those looking for investment opportunities. Interest rates are at lifetime lows. Real estate prices are low. Supply is relatively high.

Lawrence Yun, the chief economist said that rental rates had risen at more than three percent (as an annualized rate) in 2011. Further, Yun goes on to say that there is no evidence to suggest that the rental demand will cool any time soon. Now here is the very interesting part...If rental rate increases stay at or about 3.5%, rental income will DOUBLE in twenty years!

Compared to consumer prices, or rental rates to name another indicator, there is an undervaluation in residential real estate of 14-20%. While it is unknown as to when property valuations will catch up to current rental rates, it is possible that single family residential home values could double in under twenty years.

For another point of view on this matter, read http://economistoutlook.blogs.realtor.org.

What do you think?

The Wall Street Journal says that in many circumstances, buying is less expensive than renting. Read the recent article.