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.

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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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.

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.

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 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.

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 home, pictured below, is a new home which has been on the market since 2008. It is located in the Highland Fields subdivision, just East of County Line Road and South of Interstate 55. The home, originally marketed at $4,200,000 was ultimately reduced to $2,795,000 before selling to Hudson. MLS records report the house to be 12,000 square feet with 16 rooms, 6 bedrooms, 6 full bathrooms, 2 half bathrooms, 5 fireplaces and a 6 car garage.

The current sales price is unreported.

Read more in Chicago magazine article by Dennis Rodkin.

To view the current listing inventory, click here.

2011 Crystal Key Award-803 S Lincoln-Innovation and creativity in design

Gold Key Award-803 S Lincoln-Hinsdale IL -Interior Design

Gold Key Award-803 S Lincoln-Hinsdale IL - Builder/Developer

Gold Key Award-164 Briarwood Oak Brook-Builder/Developer

Gold Key Award-164 Briarwood Oak Brook-Interior Design

Silver Key Award-440 N Quincy-Whole House Renovation over $500K

Each year, the Home Builders Association of Greater Chicago (HBAGC) presents one of the premier housing programs in the country: The Key Awards, which signify quality in home building and remodeling. HBAGC has been honoring the area’s best since 1972 in such categories as new home construction, architectural design, room additions, interior design, green building and more.

This year Battaglia Homes was presented with a Gold Key Award for this beautiful home in Downers Grove.  This home boasts gorgeous stone and stucco exterior, an outdoor stone fireplace and bluestone terraces. Other elegant amenities include american cherry hardwood floors, two story foyer with leaded glass, coffered ceilings in kitchen and study, and a sunroom.

“You can tell when you walk into these homes and communities, that the people involved set out to make a difference in the quality of life for their residents,” said Gail Payonk, past co-chair of the Key Awards Committee. “The Key Awards winners are those who are building exemplary homes.

“Anyone who buys a home from a Key Award winner can be assured that their builder is among those who care to bring their best to the table every single day.”

Choosing a highly trained, experienced, creative, hands-on builder, like Carlo Battaglia, will ensure that you get the very best in quality craftsmanship and a great custom home building experience.  

What could be better than a new home in a location that is pure gold? Maybe one built by Double Diamond Develoment on a over-sized 80x209x77x185 interior lot!

Imagine, just a three block walk to the Clarendon Hills Metra commuter train station. Or, a three block walk to Walker Elementary School, a perpetual high-performer on the Illinois standardized tests.

The builder, Double Diamond Development, is known well in these parts as they have been building here for years. The trades people used by Double Diamond are the same people who have been involved with Double Diamond Development for at least a decade. This type of team approach maximizes cohesiveness in the construction process where the trades engage in complementary efforts.

As of this writing, construction has not yet begun so there is still the opportunity to make your personal mark on this custom home. A few highlights of this home are the oversized rooms, a three-car garage, a finished lower level and two walk-in closets in the master bedroom - and this is only the beginning... Contact Bryan Bomba today at 630-286-9242 to find out the current status of this unbelievable home.

How would you like someone like this to be your neighbor?

For the first time in over fifty years, the government of Cuba is allowing the purchase and sale of real estate. Here is the kicker. Only permanent citizens of Cuba may buy or sell real estate. The new law limits them to one home in the urban areas and a country home as well.

Too bad. I was thinking that this could be an option for vacation ownership particularly since Mexico's safety is questionable.

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Montreux Custom Homes of Hinsdale IL offers a very special home in the hot Madison Elementary School section of Hinsdale IL. The home is to be built by Montreux on the 400 block of South Thurlow Street. For those in the know, this is one of those special blocks which boasts very low traffic, extremely quiet and easy walking access to all that is important. Take a look at the map of 520 W. Fourth Street to see what I mean. In a sentence, the lucky future owner of this home will have an amazingly easy short walk to Madison Elementary School, Hinsdale Middle School, Hinsdale Central High School, St. Isaac's, Robbins Park, downtown Hinsdale and the West Hinsdale Metra train depot. By local standards, that is definitely a big deal.

People who live here love having the ability to walk to as many places as they are able. And if you have kids, imagine eliminating so much of the nonsense driving around that you must do if you do not live in a walking environment. This is such a time-saver and stress-reliever.

Most of the homes that you will see at this price point are of 50 foot wide lots. This one is on a 59 foot wide lot. At first, the extra nine feet may not seem like a lot, but it is. First, it gives you nine extra feet of lot width. That's 18% more. Additionally, the extra lot size allows the architect and builder to have extra FAR (that's Floor Area Ratio) to build a bit larger house. And it is definitely enough that you would notice.

The brilliance of this home's design comes through in it's floor plan. It is abundantly clear that the architect knows how families live. The layout is precisely structured to the way families use modern homes. If you care to see them yourself, call me to discuss 630-286-9242. They must be seen to be appreciated.

Check your wish list and you are likely to see that it is all here!

• Nearly new home
• Lyons Township High School District
• High-scoring Highlands Elementary School District
• Three car garage
• Two story foyer
• Perfect condition
• Neutral decor
• High end kitchen with stainless steel appliances
• Priced under $650,000

And a few things you did not expect to find, but must admit you find impressive:

• Finished walk-out basement
• Hardwood floors
• A mind-blowing view of a pond and park area

If you would like to see more click here. If you are ready to see this home yourself, call 630-286-9242 or e-mail Bryan@BryanBomba.com to schedule an appointment.

Majestically set on over an acre in the esteemed north side of Burr Ridge, well within the boundaries of the always impressive Hinsdale Central High School system. Elementary school-aged kids attend the equally impressive District 181 schools (Elm Elementary & Hinsdale Middle School).

People who live here know that most lots sizes are so small that they are measured in feet, not acres. It is extremely uncommon and desirable to come across a property with over an acre in this area. Moreover, it is set along the prestigious County Line Road. Historically, this has been considered a destination address.

The house, originally built by JDS (a local favorite), is comprised of natural stone and brick. In above ground living area (not including the finished basement and garage), the house measures well over 5,000 square feet. While that is certainly a lot of space, it is configured in a traditional and family-friendly kind of way. The kitchen has it's own zip code.

Get the idea? This home is specifically designed for large families who love to have gatherings in their home. And when it is time to seek some privacy for the home's masters, prepare yourself for a master suite of epic proportion. A master suite so stately, it has its own foyer. The bedroom is spacious, voluminous and has its own fireplace. The re-worked master bath is comprised of natural marble slabs and tiles. The scale is nothing short of grand.

And then there is the master closet. Let me put it this way-this closet is so big is has closets inside of it. Take a look for yourself.

If you would like to see more, you have two options. First, you can click here and see the interior virtual tour. Second, contact me to set an appointment to see it personally. It's your choice, but do not miss out as homes this special do not come along that often. Come see for yourself.

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