Real Estate News from Popular Illinois Cities

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Real Estate News from Popular Illinois Counties

By Eric L. Green, Your IRS Tax Litigator
(Tax Rep LLC)
Comments 0
Listen in to this week's podcast as host Guinevere Moore discusses best practices for responding to Information Document Requests (IDRs) from the IRS, including how to balance meeting your clients’ needs with meeting ethical standards practitioners must follow under Circular 230, and how to set your client up for success in litigation through proper IDR practice if an agreement can’t be reached in exam or at appeals.Check out the episode here: https://taxrepllc.com/subscribe-tax-rep-network-podcast/  Want to contact Gwen? guinevere.moore@mooretaxlawgroup.com  Want to build your IRS Representation practice and add $100,000 to your bottom line this year? Join us inside Https://taxrepllc.com  How to get the software we use? Go to www.TaxHelpSoftware.com  and use code TAXREPTRIAL for a free...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 4
 WHAT YOU NEED TO KNOWABOUT EARNEST MONEYYou’ve just bought a new house - congratulations! So many things to think about, one of them being your earnest money. What is Earnest Money? Basically, your earnest money is delivered on or around the time you submit a contract to purchase your new home. It’s the way you say that you are serious about this house. Without a financial commitment, how does the seller know that you’re really interested in their home and not five others? How Much Earnest Money Do You Need to Put Down? This question will vary from state to state and even region to region. When I first started in the business in 1998, the earnest money was 10% of the contract price. With the huge increase in prices we saw running up to the recession, the number now hovers at around 3-5...
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Comments 3
If March 2021 is any indication of what the spring real estate market will bring - you can expect multi-offer  situations to be the norm instead of a once in a while situation. The numbers speak for themselves with a 43.9% increase in sales from 2020's 41 sold homes to 59 homes in 2021.  Average market time  dropped 45.7% to only 57 days vs 105 days in 2020.  The median Sale Price rose 14.6% to $326K from 2020's $284,369 in March. Current available homes in Oswego, IL as of 4/172021 - 62 total available - the breakdown is as follows:New - 11  Price Change - 12  Active - 25 - Active PLN - 14 = Total Active - 62Under Contract - 124Pending - 5 (1 PL) With more homes under contract than in current inventory buyers need  to be on their toes with strong pre-approvals and little to no requests...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 14
Schaumburg maintains more than 1,100 acres across 100 parks, including nearly 300 acres of preserved natural areas throughout it's park district.The Spring Valley Nature Sanctuary, is a prairie wild life preserve and an indoor and outdoor museum. This is the place to rent snow shoes & take them for a spin if you've never tried them. Bison Bluff is a nature playground also located on the grounds. Also nearby is the Heritage Farm which is a fully operational farm right out of the 1880's. Kids are gonna love it! Horses, pigs, chickens are here for interaction.  (video from WGN-9).  The Park District also operates four community recreation centers, including the Water Works Oasis, a spectacular indoor pool facility.  The Sport Center which has indoor baseball, soccer fields and basketball c...
By Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector, The Home Inspector With a Heart!
(SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno)
Comments 6
Perry Farm is a winning visit for the family.Bourbonnais Illinois is the home of the Perry Farm. Today it is listed by the National Park Service of the Dept of the Interior in the National Register of Historic Places. But it wasn't always like that.      In 1835, Thomas Durham moved his wife and family of five daughters and four sons to Bourbonnais Grove,IL, about 60 miles south of Chicago on property on the banks of the Kankakee River. He built a farmhouse and a three bay English barn and a horse barn. Legend is the farmhouse cellar was part of the Underground Railroad. Thomas died in 1854 and left the farm to his sons. He generously left his daughters $5 each. The sons were not successful farmers and by 1866 had fallen on hard times financially and were looking to sell the farm. One s...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
HUBBARD WOODS March 2021The Hubbard Woods area is down to inventory that would only last 1.9 months if no new inventory came on the market. That’s called an extreme seller’s market. If you have any thoughts of selling - why wait? However, if you sell, you’ll become a buyer . . .  7 NEW HUBBARD WOODS LISTINGS in March 20211117 Merrill - $699,999 (under contract)     1299 Hackberry - $1,399,000      1140 Oakley - $1,649,900     986 Asbury Ct. - $1,699,900     1159 Chatfield - $1,799,000    1347 Scott - $1,949,000    1040 Hubbard - $2,599,000          New PRIVATE LISTING1340 Asbury - $1,939,000   4 CLOSED HUBBARD WOODS HOME SALES IN December 2020  979 VineList price: $479,000Sold price: $341,000 (short sale)Days on market: 986      1152 AsburyList price: $849,000Sold price: $901,000% of li...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
What Sold in Your Village in March 2021?See the number of under-contract homes in the data below - it is much higher than available inventory. All North Shore villages are experiencing low inventory and a seller’s market. Wilmette, Winnetka, and Glencoe have the tightest markets. The spring market has been exploding but we need more inventory!Here’s what closed in the North Shore in March 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes in March: 23 Homes for sale: 45Price range: $560,000 to $6,250,000 Under contract/pending: 61Current months supply of inventory: 3.6Winnetka Homes for SaleWILMETTE  Current Wilmette Real Estate Market:Sold homes in March: 40Homes for sale: 45 Price range: $389,000 to $2,350,000Under contract/pending: 78Current months supply of inventory: 3.5...
By Eric L. Green, Your IRS Tax Litigator
(Tax Rep LLC)
Comments 0
This week’s podcast is hosted by Guinevere Moore. Listen in as Gwen interviews immigration attorney Vivian Kalaf and civil rights attorney Lana Nassar regarding taxation issues that arise in immigration cases, as well as how they teamed up to fight for all United States Citizens to be able to receive Economic Impact Payments under the CARES Act no matter who they are married to.Listen in to this episode and others on the Tax Rep Network Podcast either on ITunes, Google Podcasts, Apple Podcasts, Spotify or the Podcast Home Page.Want to contact Gwen?  She can be found HEREWant to contact Vivian Kalaf?  She can be found HEREWant to contact Lana Nasser?  She can be found HERE   
By Randy Schulenburg, Schulenburg Realty, Inc.
(Schulenburg Realty, Inc.)
Comments 3
Lake House w/Sunset Views over Candlewick Lake OverviewMapsPhotosDescription Candlewick Lake - Northern IL Best Value in Lakefront Living $250,000 Single Family Home Main Features 4 Bedrooms2 Full Bathrooms1 Half Bathroom1 UnitInterior: 2,282 sqftLot: 0.28 acre(s)Year Built: 1976MLS #: 11033005 Location 108 Candlewick Dr. SEPoplar Grove, IL 61065USA Randy Schulenburg Schulenburg Realty, Inc.(224) 8052616randy@schulenburg.comhttp://www.Schulenburg.com   Listed by: Schulenburg Realty, Inc. Our recent listingsLake House w/Sunset Views over Candlewick Lake | $250,000 | Poplar Grove, IL Subscribe to our listing feed Nearby properties for sale
By David Ratowitz, Tax, Real Estate and Bankruptcy Law Firm
(Ratowitz Law Group)
Comments 0
Buying in short sale may offer the best opportunities in a decade because of the COVID-19 lockdowns.  The moratoriums on evictions and closures of small businesses have created a backlog of distressed property concealed by moratoriums on foreclosures.  As these moratoriums end with the easing of COVID-19 distressed properties will hit the market.Homebuyers and investors can save a lot of money buying a property in a short sale.  While this savings can be a tremendous, it is important to remember the buyer will earn this savings and must be prepared for the obstacles posed by a short sale.The opportunities buying in short sale are created because the lienholders agree to settle for less than the face value of the debt secured by the property.  That is a fancy way of saying everyone agree...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
Real estate watcher and market predictor Keeping Current Matters has published some valuable graphs that will allay some fears that consumers have. Fears that the super hot Chicago North Shore market will create another bubble - like the pre-recession period leading up to 2007-8.Covid is one factor which stimulated the rush to buy, but there were key characteristics of that period that are simply not present this time.   MORTGAGESMortgages were extremely easy to get back then and lenders were willing to take on high levels of risk. Not so now where qualifying for a loan is much harder.   HOUSING PRICES  Homes in Chicago's North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield are selling very quickly. But the pace of inflation is much lower. This graph shows ...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
In the olden days (maybe just a few years ago) homes for sale in the Chicago North Shore suburbs were plentiful and took a long time to sell. "Long time"meaning it was a buyer's market with homes generally taking longer than six months to sell. We are now experiencing a seller's market with the median sell time around three months. But most homes are selling more quickly.In a corona virus world where everything has gone tipsy-turvy the real estate market rebounded spectacularly. Currently (March 2021) inventory is low throughout Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield. Homes are selling within days of hitting the market, and in some cases, well before they become available on the Multiple Listing Service. Hot homes see frequent multiple offers.The real estate market expl...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 0
What Sold in Your Village in February 2021? Big storms and extreme chills kept buyers home - but just for a while. Now that March is here and we’re feeling the warmth, they are out pursuing their dreams of buying a home in the North Shore. Look at the current months-of-inventory shown below for each village. Winnetka, Wilmette, and Glencoe are under 4 months showing a strong seller’s market. Northfield is a seller’s market, and Kenilworth is not as strong but the number is more than half of what it was a few years ago.Here’s what closed in the North Shore in February 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes in February: 13 Homes for sale: 55Price range: $575,000 to $6,399,000 Median price ytd: $975,000Under contract/pending: 52Current months supply of inventory: 3.9...
By Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector, The Home Inspector With a Heart!
(SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno)
Comments 4
See if you can guess which one of these things are fake. 1. Buyer shows up wearing bright blue, yellow, red, orange and purple fingernail polish. 2. Buyer has on a woman's diamond engagement ring on his ring finger. 3. A friend shows up and proceeds to pull a box of cards and dice and a clear plastic tube with 2 felt placemats out of his coat. The 2 of them play a game of Magic the Gathering on the kitchen island countertop. 4. The sewer line drains just fine and no water starts bubbling up into the basement through the floor drain. All ductwork is in great shape with no remnants of friable asbestos. The main beam in just fine, noone has chain sawed it nearly all the way through. The chimney brick is not falling off the chimney into the front yard. Good guessing. From the files of now I...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 0
HUBBARD WOODS News February 2021 Inventory has been low - until February with the addition of 12 new homes for sale in Hubbard Woods. Good news: four are already under contract. And strangely, for those of us with devious minds, five of the homes are on Asbury. 12 (!) NEW HUBBARD WOODS LISTINGS IN February 2021  250 Woodlawn - $575,000          1124 Gage - $849,000         1371 Asbury - $849,000          1152 Asbury- $849,000 (under contract)        1255 Asbury - $949,000         1256 Asbury - $949,000 (under contract)        1409 Asbury - $989,000         1570 Tower - $1,150,000 (under contract)         792 Walden - $1,399,000        1015 Starr - $1,650,000 (purchased in September 2020 for $1,350,000 with the intension of tearing it down. The house is of some historic significance and ...
By Scott Seaton Jr. Bourbonnais Kankakee IL Home Inspector, The Home Inspector With a Heart!
(SLS Home Inspections-Bradley Bourbonnais Kankakee Manteno)
Comments 3
It's the Little Things     We have had a crazy amount of snow in Illinois this season. My snowblower has been running more this year that the past 3 years combined. Home inspections in Bourbonnais and surrounding areas have been a real challenge. Can't see the roof, huge drifts of snow to plow through and dangerously frigid temperatures have made this winter one for the record books. If you don't have a safety pack in your car when heading out, you are taking a huge risk with your life. The items we require the inspectors at SLS Home Inspections to carry are critical. Blankets, flashlight, handwarmers, extra socks, snow shovel, matches and candle, big enough piece of aluminum foil to melt snow in, extra gloves and hat, battery charger booster for the cell phone and storable food items l...
By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Comments 1
Today’s real estate market is fast-paced. Agents, home buyers and sellers alike will have to be on the same page and practice excellent communication. To prepare for bidding on homes and accepting offers, let’s discuss real estate negotiation tactics.Factors Impacting Real Estate Negotiation TacticsLast month, I discussed real estate market trends for 2021. Current market factors, which include the influx of Millennial and Gen Z buyers, interest rates, the pandemic, and the past election, have varying levels of influence on real estate. But what does that mean for buyers and sellers? They need to be ready to negotiate, and that being said, here are strategies you can use when negotiating home sales.5 Home Buyer Negotiation StrategiesHome buyers need to be savvy because home inventories ...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 6
WHAT IS A HOME WARRANTY AND HOW DOES IT WORK? WHAT WILL IT DO FOR ME AS A BUYER? A home warranty can give a purchaser peace of mind.  If anything catastrophic happens in the house, you are only financially liable for the deductible.  So if the furnace goes out one evening and you just can't get it going (as long as it is maintained and not abused) you would call the warranty company and they would send out a technician to fix/repair/replace the furnace depending on the problem.  So yes, if the furnace did indeed blow up (heat exchanger) you would get a new furnace of comparable quality.  You cannot choose the technician or company involved but for years my clients have used these warranties with no problems.  You just have to give up a little control with that extra peace of mind. What ...
By Cheryl Bowers, Plainfield, Naperville, IL. Real Estate
(Bowers Realty Group LLC)
Comments 0
Homes for sale in Fairfield Ridge Plainfield, IL Fairfield Ridge Real Estate Statistics Average Home Size: 2836 Average Property Taxes: 8377 Homes Listed: 6 Homes Sold: 5 Average Number of Days To Sell: 69 The above real estate statistics were compiled by Bowers Realty Group based on homes for sale in Plainfield listed in Fairfield Ridge between February 18th, 2020 and February 17th, 2021. Homes for sale in Fairfield Ridge Plainfield Address Status List Price Beds Total Baths Total Sqft Year Built 24600 Soldier Drive Active $339,900 3 3 0 2008 Sold Real Estate in Fairfield Ridge - (November 19th, 2020 - February 17th, 2021) Address Beds Total Baths Total Sold Price 14920 Morgan Lane 4 4 $376,500 14911 Gardner Street 4 3 $370,000 The data relating to real estate for sale on this website ...
By Cheryl Bowers, Plainfield, Naperville, IL. Real Estate
(Bowers Realty Group LLC)
Comments 0
Homes for sale in Enclave Plainfield, IL Enclave Real Estate Statistics Average Home Size: 2662 Average Property Taxes: 7975 Homes Listed: 4 Homes Sold: 2 Average Number of Days To Sell: 50 The above real estate statistics were compiled by Bowers Realty Group based on homes for sale in Plainfield listed in Enclave between February 18th, 2020 and February 17th, 2021. Homes for sale in Enclave Plainfield Address Status List Price Beds Total Baths Total Sqft Year Built 13518 Rockefeller Circle Active Under Contract $479,900 5 3 3,374 2006 13621 Rockefeller Circle Active Under Contract $325,000 3 3 2,194 2004 The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firm...

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