New Homes For Sale

It’s Tough Competing with your Developer

February 17, 2007

I had a call last week from a gentleman considering selling his condo in the South Loop. If you’re not familiar with the South Loop it’s a neighborhood bordered on the east and west by Lake Michigan and the Chicago River and on the north by Congress Parkway. The south border is considered Roosevelt Road Click to continue...

New Home Walkthrough for a William Ryan Home

December 20, 2006

Last week I attended the final walkthrough with one of my buyers for a new house in Orchard Prairie North a new development in the Aurora area. The walkthrough was conducted by a production manager, Tim, for William Ryan Homes. The walkthrough or “pre-closing orientation” as he called it lasted over 2 hours and was Click to continue...

Waterview Towers Luxury Condominiums

December 16, 2006

In today’s Chicago Tribune, Sharon Stangeness has an article on Waterview Towers, 233 luxury condominiums under development in Chicago’s Loop. One bedroom condos to full-floor penthouses are offered from $726,000 to $7,505,000 (base price). A self-park space is $50,500 and 2-car garages with storage are $150,000. Monthly assessments are from $525 to $5,731. True to Click to continue...

Bring Your Financial Documents, If You’re Relocating and Looking at New Homes

December 6, 2006

This past weekend I worked with buyers who are relocating from Virginia. They got a mortgage pre-approval well in advance of their trip here. However, they ended-up buying a new home from a developer who offered a $3,900 discount if they would use the developer’s lender. Not only was the discount enticing, but the lender’s Click to continue...

How to Get More out of Your New Home Walk Through

October 23, 2006

Ardell DellaLoggia who writes for the Seattle real estate blog, RainCityGuide.Com, has a good tip for new construction buyers. She suggests bring your own blue tape to the walk through for marking items that need repair or a credit. That way, you won’t be dependent on the builder’s rep to mark items. Check out her Click to continue...

Downtown Chicago New Condo Market Still Strong

October 11, 2006

If you’re looking for more information on Chicago’s downtown new condo market, YoChicago.Com has an article by Don DeBat covering the market from top to bottom,”Chicago market defies housing bubble but ultra-luxury sales are slowing down“. At the top is the ultra-luxury market defined at $700/sf on up. So a 1,000 sf. condo in this Click to continue...

Understand the Contingencies When Negotiating an Offer

October 10, 2006

Recently some clients of mine made an offer on a new 2 bedroom condo in the Sheridan Park neighborhood of the Uptown area of Chicago. Sheridan Park is bordered by Lawrence and Montrose on the north and south and Broadway and Clark on the east and west. The offer was contingent on the buyers selling Click to continue...

Picking a Lot is Part of Buying a New House

September 18, 2006

Yesterday, a couple of buyers and I visited the Toll Brothers’ Hawthorn Woods Country Club Development. Hawthorn Woods is a beautiful, quiet area in the northwest suburbs. When you buy a new house the lot it will sit on typically isn’t included in the price. As with the houses, lot prices vary depending primarily on Click to continue...

Pick an Agent, Then Start Looking at Homes Part 3

May 25, 2006

In Part 1 and 2 I gave a couple of reasons why home buyers shouldn’t attend any home showings unless they are using a buyer’s agent they chose. Many buyers will say, “But I’m just starting to look. I want to get an idea of what’s on the market. I don’t want to pick a Click to continue...

An Unfortunate Situation That Could Have Been Avoided

May 4, 2006

Today I had coffee with another businesswoman, Jennifer, who shared her story of buying a new home. The woman used a REALTOR® to buy the home from a builder in Algonquin. After the contract was signed the agent disappeared not to emerge until the end of the closing when she picked up her commission check. Click to continue...

2 Questions to Ask When Shopping for a New Condo

March 31, 2006

Thinking about buying a new condo? Here are 2 questions to ask that may save your some surprises and grief. First ask, “Are the condos warrantable?” A condo being warrantable means that there is less risk for your mortgage company and thus you’ll pay a lower interest rate. A condo being non-warrantable can be caused Click to continue...

Take a Buyer Agent with You When You Visit New Construction

February 19, 2006

I got a call this morning from a couple wanting me to help them buy a new condo near the city. They were ready to make an offer this week. There’s just one problem, the condo developer won’t pay me a commission since the buyers had made their visit to the sales office without me. Click to continue...

New Home Sales vs. Resale Home Sales

January 21, 2006

I spent this afternoon showing homes in Grayslake, Waukegan and Gurnee to a couple of first-time buyers. Our last stop was a condo conversion (shown right). Even though condo conversions aren’t completely new development, their sales are more like new home sales than resale home sales. Here are some basic differences. SALES CONTRACTS Almost all Click to continue...

Elves Delay Building New Homes in Iceland

January 7, 2006

While driving to Waukegan this morning to show homes to a couple of first time buyers, I was listening to National Public Radio’s (NPR’s) “Wait, Wait..Don’t tell me!” program which took a look back at the weirdest headlines of 2005. I learned that I had missed, perhaps the strangest real estate story of 2005. Real Click to continue...

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