Real Estate Information

In the near western suburbs of Chicago, most of the towns (Hinsdale, Clarendon Hills, Western Springs, LaGrange) have overhead utilities. That means that the utility service is provided by the beautiful wooden utility poles in everyone's back yard.  In addition to the stellar aesthetics, the overhead utilities are subject to outages. Typically, these outages are the result of storms. High winds. Lightning strikes. Downed trees. You get the idea.

Beyond the hassle of not having lights or possibly watching your food spoil, there is an increased risk of water penetration into the basements as sump pumps do not run when there is no electricity. And the sump pump back-up systems only run so long.

The best solution is a whole house generator. These are powered by natural gas (one of the few underground utilities). Generators can power anywhere form a few circuits to your whole house, dependent on its size. Typically, they test themselves once a week to ensure that they are running properly. All in, generators are the most fail safe way to protect your house from the ills of storms-particularly the nasty ones we get durign the summer months.

If you have an interest in generators, do not call me. I have already told you everything I know. Call Chris Rimbos at Genesis Lighting. 630-986-3900. In addition to being a generator pro, Chris is an all-around good guy.

West Suburban Living magazine has just ranked Hinsdale IL as the top town to live in. Factors that this decision were based on include: highest average house value (just under $1,000,000); highest score on the ACT test; low crime rate and an impressive downtown.

Clarendon Hills was ranked as #2.

I need houses to sell. So far this year, my team and I have sold 56 houses. That is one every 2.2 days. Just yesterday, a home that we had put on market in Western Springs on Monday, sold in a quadruple offer yesterday. That is right. Four offers on one house in less than three days on market.

The under $1,300,000 price point is moving the fastest. If you have a home worth less than $1,300,000 and you have an interest in selling it, this may be an opportune time for you. Call me. 630-455-8455.

When in financial distress, it is better to short sale out of it than to go into foreclosure. In addition to having less detrimental impact on your credit score, after going through a short sale, the time frame to buy again is shorter.

While the rules are different for loans under the guidelines of FHA, VA and Freddie Mac, the Fannie Mae guidelines say that you must wait 7 years to buy after going through a foreclosure, whereas, it is a two year time frame under a short sale (presuming that you put down at least 20%).

Not yet on the market!

Here is a highly uncommon opportunity to purchase a teardown property in Hinsdale IL BEFORE it goes on market.

The lot measures approximately 51 x 125 (subject to survey)

Alley access and street access

In-town Hinsdale

Monroe Grade School area.

Priced at $239,900

Contact Bryan@BryanBomba.com for details. It will not be made available publicly until next week.

To be sold in "as is" condition.

House on lot is not to be shown.

Imagine having a video baby monitor with a camera so advanced that it can move up, down, left or right to continue capturing your baby's movements! Even more, imagine having the ability to control the camera and/or view the baby from your iPhone!

This thing is so cool I may want to talk to Sue about having more kids. Click here to learn more. 

There is definitely a different feeling to the new construction residential real estate market in the Hinsdale area so far in 2012. As discussed with Dennis Rodkin of Chicago Magazine yesterday in an article entitled Hinsdale Is On A Tear Again, the demand for new construction is overwhelming. And that means that teardown properties have become hard to come by.

Over the course of the past two weeks, there have been at least four sales of teardowns where there have been triple and quadruple offers on the properties. In some cases, the ultimate contract price has gone over the initial asking price.

A perfect example is 322 N. Oak in Hinsdale. It went on market for $425,100 and is likely to have sold for over $450,000. All this took place in less than 48 hours on market with four individual offers. Ultimately, it was a local builder who bought the property.

Another example is 623 S. Bruner in Hinsdale. This was a 75 foot wide lot which sold before it was ever fully exposed to the market. It, too, was acquired by a builder.

There is such huge demand for new homes right now. Problem is that the few new construction projects that are in process are in their infancy. Most are not deliverable until the end of 2012. Many buyers simply cannot or will not wait.

This unwillingness to wait for the new homes to be built will result in higher demand for existing homes-even those which may need some cosmetic improvements. Time will tell if this prognostication is accurate.

To give you a feel for the market demand, my real estate group has 32 sold properties for 2012. If you want to sell your home, now might not be a bad time to consider it. if you want to discuss it, call me at 630-455-8455.

If you want to live in a new home and take the train to work in downtown Chicago, you may have just found your new home. Greenside Design Build  offers a new Nantucket style home in such an amazingly convenient walk to Metra train location that you will definitely be the envy of everyone at the office.

Take a look at this location. The little blue icon in the Metra train station. Locals call it the west Hinsdale stop. If you lived here, you would call it a dream. That is because you would measure your commute in steps, not minutes. Just grab your coffee, pick up the newspaper off the driveway and go! If you own a second car, that would be because you want one, not because you need one. This location really is that convenient! I have two other past clients who live on this block. Something tells me that they will never give up bragging rights regarding the convenience of this little corner of Hinsdale IL.

803 W. Fourth Street in Hinsdale is targeted for delivery to its new owner (could be you) before the end of 2012. It consists of three finished levels plus a nicely finished lower level. All in, it will have just over 5,000 square feet. The lot size is 72 x133. While the construction will definitely progress, the customization can be yours if you catch us in time. For a thoughtful discussion about this home, contact Bryan Bomba at 630-455-8455.

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Contrary to the real estate market conditions in the rest of the country, lots in Hinsdale, IL are hot. Demand for these is definitely outstripping the supply. In Hinsdale IL, a lot is typically not a vacant lot. Rather, it is a lot improved with a house. So, when you look at the price of a lot, you really need to factor in the cost of demolition and hauling away of the old house into the total acquisition cost of the lot.

Just last week, there was a property located at 322 N. Oak in Hinsdale, IL that was marketed as a tear down for $425,000. The lot measured approximately 60'  x 193'. This section of Oak Street is a North/South Street with above average car traffic. Some people use this street as a short cut to Hinsdale Hospital. Some of these users are ambulances.

In less than 24 hours of marketing time, the property had four separate offers on it. It ultimately sold for over asking price. I do not know the exact amount as my client was not the winning bidder.

Pretty amazing, right?

If you know of anyone selling a tear down property in Hinsdale, Clarendon Hills or Western Springs, will you please let me know? I have buyers waiting.

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.