From the category archives:

Chicago Suburbs

Should you view homes above your price range, if they’re on market 30 days or less?

Thumbnail image for Should you view homes above your price range, if they’re on market 30 days or less? February 19, 2010

This week I received a great question. Michael M. asked, “Is it wise to see a home that only recently came on the market (let’s say less than 30 days) and is $25-50K out of your price range? Or should you wait until there is a price reduction that brings it closer to your comfort [...]

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Rogers Park 3 bedroom condo prices well below those in neighboring Evanston and Edgewater

Thumbnail image for Rogers Park 3 bedroom condo prices well below those in neighboring Evanston and Edgewater February 7, 2010

Tonight I’ll be watching the Super Bowl at a friends’ home in Rogers Park. Compared to neighboring Evanston and Edgewater, Rogers Park has very attractive home prices! I recently listed 7612 N Rogers #2 in Rogers Park. It’s a beautiful 3 bedroom 2 bath condo with a garage just a couple of blocks from the [...]

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Park Ridge house sales explode under $300K

Thumbnail image for Park Ridge house sales explode under $300K December 5, 2009

This afternoon I’m showing a buyer a house in Park Ridge. The chart above shows the distribution of Park Ridge houses sold in the past year compared to the previous year. The green bars show this past year’s sales. The black outline bars show the previous year’s sales. For both years the price range with [...]

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River Forest not as expensive as you might think

Thumbnail image for River Forest not as expensive as you might think November 20, 2009

Today’s Chicago Tribune had a good article on the near western suburb of River Forest, “River Forest: Standing the test of time“. With an average price of River Forest homes for sale in the low $800Ks, many people might not think that they could afford an average home there. Yet, as the chart below shows, [...]

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Glenview house sale prices drop the least in the middle of the market

Thumbnail image for Glenview house sale prices drop the least in the middle of the market November 14, 2009

The average sale price for Glenview houses sold during the past year compared to those sold during the previous year is down over 24%. Part of why the average price is down can be attributed to more sales of 2 bedroom or less houses and less sales of 5 bedroom or larger houses.
As shown in [...]

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Good article on Morton Grove in Chicago Tribune

October 23, 2009

Today’s Chicago Tribune has a nice article on Morton Grove, one of the near north suburbs. As the article, “Morton Grove: Easy to get to, easier on the wallet” suggests you get more home for the money in Morton Grove than in several of the near north suburbs.
It isn’t that Morton Grove doesn’t have a [...]

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Forest Park north of I-290 worth a look!

October 14, 2009

Today a woman called me about selling her condo in Forest Park. It’s at The Residences of The Grove, a newer condo development just north of I-290 and next to the Blue Line.
As I’ve written before, I think the portion of Forest Park north of I-290 has a lot going for it. Homes in most [...]

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Cook County sees uptick in house sales between $650K and $700K

October 8, 2009

While looking at sales data as I write my market outlook for the latest issue of “Maximizing Equity” I noticed that there have been more house sales in the past 30 days in Cook County in the $650K to $700K price range than in the $600K to $650K price range or even the $550K to [...]

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Re/Max CEO sees market drop & advantages for areas with entertainment

August 18, 2009

Today’s DailyHerald.com has an interview with Dave Liniger, co-founder and chairman of the board of Re/Max International Inc. Mr. Liniger is predicting a drop in the housing market, if the first-time homebuyer credit isn’t extended beyond this year.
I made a similar prediction in my “Maximizing Equity” real estate newsletter back in June when I [...]

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Why Oak Park open houses can be a challenge to find!

August 9, 2009

Today my partner, Mary Kaye, and I hosted an open house for a vintage condo in Oak Park we recently listed (320 N Maple 2N). We had a nice turnout of 7 groups which we were pleased with considering that Oak Park only allows a sign in the yard of a property to advertise an [...]

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Steve Baird on the state of the Chicago Metro Area real estate market

August 5, 2009

Baird & Warner President & CEO, Steve Baird, recently shared his thoughts on the state of the Chicago Metro Area real estate market. In the current issue of Chicago Agent Magazine, Steve shares, “After a long wait, it appears the market has generally stabilized and we have even begun to see some improvement, albeit [...]

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Oak Park, Batavia and Buffalo Grove noted by Money Magazine

July 26, 2009

Chicago suburb Oak Park made Money Magazine’s top 25 list of American’s best places for the rich and single. Chicago suburbs Batavia and Buffalo Grove made Money Magazine’s top 100 list of America’s best small towns.
Oak Park just west of Chicago ranked 7th on Money’s list of the best places for the rich and [...]

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Greater drop in home values in southern Arlington Heights than northern

July 14, 2009

Last week my partner, Mary Kaye, and I did a market analysis for a couple of friends of ours in Arlington Heights. They aren’t ready to sell yet, but wanted to get an idea of what their home might sell for, if they decide to relocate to Arizona.
Our friends’ home is a large ranch [...]

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$16M foreclosure lawsuit in Barrington Hills

June 17, 2009

Even Chicago’s wealthiest aren’t immune to foreclosures! Today ChicagoRealEstateDaily.com reported that Amcore Bank has filed a foreclosure lawsuit for almost $16M on a 400 acre estate and horse farm in Barrington Hills. The couple who own the estate bought it for $19.3 million in December 2006 making it the most expensive Chicago Metro Area home [...]

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Des Plaines Bungalow Has Kitchen Cabinets with Built-in Table

June 8, 2009

On Saturday I showed houses in Des Plaines to a woman wanting to take advantage of the $8K first time home buyer tax credit. She’s owned a home before, but not in the past 3 years, so she qualifies as a first time home buyer.
One of the houses, a 1924 bungalow, included the built-in kitchen [...]

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3 Varieties of In-Law Houses in Glen Ellyn

May 14, 2009

Last night 3 of the 5 houses I showed in Glen Ellyn claimed to have some kind of in-law potential.
The first had cabinets and a sink in the lower level (shown left) and along with a full bath. While this would be a handy work area, I think it leaves a lot to be desired [...]

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