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Schaumburg, IL Real Estate News

By Lyn Sims, Real Estate Broker Retired
LOOKING FOR A COST EFFECTIVE WAY TO SPEND TIME WITH THE KIDS? Check Out Our Museum Adventure Passes! If you like to visit museums, the zoo or other cultural sites, check out our new Museum Adventure Passes available beginning September 1st, 2009. Simply go to the central library Check-out Desk and request a pass, which you may use for one week. Like our other materials, passes may already be checked out and temporarily unavailable. These free passes are only available to STDL cardholders and are funded by Macy's. Participating museums and other popular venues include: Brookfield Zoo, Cantigny Park, Cuneo Museum and Gardens, Graue Mill & Museum, Hellenic Museum and Cultural Center, KidsWork Children's Museum, Kohl Children's Museum, Lake County Discovery Museum, Mitchell Museum of the Am...
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Foreclosures and short sales are a regular portion of the market these days and create market distortions in otherwise stable neighborhoods.  And those distressed properties are selling for 20% or more below values of other homes.  But with this 'distrortion' is another problem with appraisers not adding value for these otherwise below market sales.  Before the new appraisal changes (May 2009) an appraiser might mark up a distressed property to bring it into current line with what market value would currently be.  Not any more, those days are gone! Those distressed properties are now setting the market causing extreme pricing fluctuations and appraisal problems in our area.This is a market overview for the Northwest Suburbs of Chicago which I serve.  I've given a breakdown for single-fa...
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By Lyn Sims, Real Estate Broker Retired
8000 Reasons Why you should hurry! Post Questions and Answers Post   Lyn Sims (847)230-7324 at RE/MAX Suburban         I proudly serve and sell real estate in the Northwest Suburbs of Chicago.  If you are thinking about purchasing or selling your home in the communities of Schaumburg, Elk Grove Village, Hoffman Estates, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately. All data and information provided on this blog is for informational purposes only.  Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, om...
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By Dennis Toomey, Buying or Selling Talk TOoMEy!
(RE/MAX Action)
Schaumburg Real EstateDennis Toomey continuously monitors local real estate statistics to keep his clients informed and ahead of the real estate trends.  Below, at the end of the page you will find Schaumburg real estate statistics for the last 12 months as of July 17, 2009.To find the value of your home with a free, over-the-net home evaluation, please visit: www.KnowYourHomeValue.com/active or use this link http://www.knowyourhomevalue.com/remaxil/modules/global/forms/marketevaluation.asp?&acc=32722&s=active If you would like a free list of homes for sale in this area/neighborhood or would like more information about Schaumburg, please visit: www.GetYourRealEstateHere.com/active or use this link http://www.GetYourRealEstateHere.com/remaxil/modules/agent/agent.asp?p=findahome.asp&page=...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
In the table below lists all of the single family detached and single family attached homes currently on the market in Schaumburg, IL  The data lists available homes by price range with average time on market in each range. Should you have an interest in homes in a selected price range, send me your physical characteristics requirements. I will send complete details on those homes that meet your criteria. If you are contemplating a change in lifestyle, ie. a more luxurious home or the luxury of the amenities in a senior citizen development, I may be able to save you some money via discounts available to me.   Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 118 187 $150,000 - $199,999 222 181 $200,000 - $249,999 117 122 $250,000 - $299,999 61 138 $300,000...
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By Ryan Gable
(StartingPoint Realty Inc.)
Some of the subjects covered:    * Roles of the Lender/Mortgage Broker    * Credit    * Pre-Approval    * Roles of the Real Estate Agent    * Searching for Properties    * Contracts    * Negotiation    * Closing Class Location: Schaumburg, IL Starbucks at the Streets of Woodfield, 601 N. Martingale Road, Schaumburg, IL Wednesday, September 9th at 6:30 p.m. To RSVP, please call or e-mail Tammy at:TammyH@StartingPointRealty.com(630) 674-6900
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By Ryan Gable
(StartingPoint Realty Inc.)
Some of the subjects covered:    * Roles of the Lender/Mortgage Broker    * Credit    * Pre-Approval    * Roles of the Real Estate Agent    * Searching for Properties    * Contracts    * Negotiation    * Closing Class Location: Schaumburg, IL Starbucks at the Streets of Woodfield, 601 N. Martingale Road, Schaumburg, IL Wednesday, August 26th at 6:30 p.m. To RSVP, please call or e-mail Tammy at:TammyH@StartingPointRealty.com(630) 674-6900
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By Ryan Gable
(StartingPoint Realty Inc.)
Some of the subjects covered:    * Roles of the Lender/Mortgage Broker    * Credit    * Pre-Approval    * Roles of the Real Estate Agent    * Searching for Properties    * Contracts    * Negotiation    * Closing Class Location: Schaumburg, IL Starbucks at the Streets of Woodfield, 601 N. Martingale Road, Schaumburg, IL Saturday, August 22nd at 9:00 a.m. To RSVP, please call or e-mail Tammy at:TammyH@StartingPointRealty.com(630) 674-6900
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By Ryan Gable
(StartingPoint Realty Inc.)
Some of the subjects covered:    * Roles of the Lender/Mortgage Broker    * Credit    * Pre-Approval    * Roles of the Real Estate Agent    * Searching for Properties    * Contracts    * Negotiation    * Closing Class Location: Schaumburg, IL Starbucks at the Streets of Woodfield, 601 N. Martingale Road, Schaumburg, IL Wednesday, August 12th at 6:30 p.m. To RSVP, please call or e-mail Tammy at:TammyH@StartingPointRealty.com(630) 674-6900
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By Lyn Sims, Real Estate Broker Retired
When your association has run amok or who's in charge of your condo board?Here's another great example of an association that's got too much time on their hands and not enough common sense.  This is a new ruling going into effect regarding signage when you sell your home yourself or thru a real estate company.  Well I see a problem if you are tucked back in the subdivision where you can't use more than one sign at your nearest street corner.Let's take an example of Gary Court - you can only have a sign on the corner of Grove & Gary.  That's great, but how are the people supposed to find your sign from Irving Park Rd. and Mercury?  Can't put up a directional arrow sign anywhere near the Briar Pointe signage at Mercury & Grove (main entrance) sending your traffic west.  Another great exam...
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This is the Months Supply of Inventory for Schaumburg IL Single Family Homes from April 2007 to June 2009. This is also called the 'Conversion Rate' or how long and how much inventory is on the market in a particular town.  Obviously, the higher the rate, the longer the market time for that particular community. Does your agent know the Conversion Rate and will they share that information with you?
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Market Update by Price Range - Single Family Homes - April, May, June 2009 Diligently trying to keep both buyers and sellers informed on the local Schaumburg Illinois housing market has been my goal for many years.  This market update gives you the number of homes that have sold by price range so you get a feel for the current sales activity.  Which is up by the way! 97% over the last quarter!Is it the $8000 Tax Credit?  Is it the lower interest rates?  Or maybe just great values in the area?  How can you use this information if you are a buyer?   The price range that you are thinking of purchasing in, is it one of the more active price areas of the market?  It would be telling you that there are a lot of other buyers also in your price range all looking for that 'deal!'     How can thi...
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Market Update by Price Range April, May, June 2009 Diligently trying to keep both buyers and sellers informed on the local Schaumburg Illinois housing market has been my goal for many years.  This market update gives you the number of homes that have sold by price range so you get a feel for the current sales activity.  Which is up by the way! 110% over the last quarter!Is it the $8000 Tax Credit?  Is it the lower interest rates?  Or maybe just great values in the area?  How can you use this information if you are a buyer?   The price range that you are thinking of purchasing in, is it one of the more active price areas of the market?  It would be telling you that there are a lot of other buyers also in your price range all looking for that 'deal!'     How can this information help you ...
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By Dennis Toomey, Buying or Selling Talk TOoMEy!
(RE/MAX Action)
Schaumburg Real EstateDennis Toomey continuously monitors local real estate statistics to keep his clients informed and ahead of the real estate trends.  Below, at the end of the page you will find Schaumburg real estate statistics for the last 12 months as of July 3, 2009.To find the value of your home with a free, over-the-net home evaluation, please visit: www.KnowYourHomeValue.com/active or use this link http://www.knowyourhomevalue.com/remaxil/modules/global/forms/marketevaluation.asp?&acc=32722&s=active If you would like a free list of homes for sale in this area/neighborhood or would like more information about Schaumburg, please visit: www.GetYourRealEstateHere.com/active or use this link http://www.GetYourRealEstateHere.com/remaxil/modules/agent/agent.asp?p=findahome.asp&page=s...
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These are the scheduled 'Tea Parties' held near Schaumburg IL on the July 4th, 2009 weekend.  When this originally started there was only one 'Party' to attend and that was in Lisle.  So the movement is spreading and there are a few more areas that you can go to as your having fun on the July 4th weekend.  I have included a link for all of Illinois also. See you there around 12:00 or so! Palatine Tea Party                                    Illinois Tea Party Information Elgin Tea Party Algonquin Tea Party Carpentersville Tea Party Crystal Lake Tea Party Lisle Tea Party     
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By Lyn Sims, Real Estate Broker Retired
A new Buyers Broker Business Model?  Scared this buyer right away! An out of town client recently contacted me regarding becoming his niece's buyers broker for a townhome in the area.  After asking many prequalifying questions of this gentlemen I was a little hesitant to meet with him and his wife who would be leaving that day and flying back to Tennessee.   A plethora of questions on representation and 'who works for who' so I decided that maybe a face to face meeting was just the thing we needed to clear things up.So upon arrival at my office, the whole story unfolded about a new buyers broker program that these folks stumbled upon on the internet.  They understood the concept of a buyers broker being a benefit for any buyer in today's market which was great.  The program with the oth...
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By Dennis Toomey, Buying or Selling Talk TOoMEy!
(RE/MAX Action)
Schaumburg Real EstateDennis Toomey continuously monitors local real estate statistics to keep his clients informed and ahead of the real estate trends.  Below, at the end of the page you will find Schaumburg real estate statistics for the last 12 months as of June 19, 2009.To find the value of your home with a free, over-the-net home evaluation, please visit: www.KnowYourHomeValue.com/active or use this link http://www.knowyourhomevalue.com/remaxil/modules/global/forms/marketevaluation.asp?&acc=32722&s=active If you would like a free list of homes for sale in this area/neighborhood or would like more information about Schaumburg, please visit: www.GetYourRealEstateHere.com/active or use this link http://www.GetYourRealEstateHere.com/remaxil/modules/agent/agent.asp?p=findahome.asp&page=...
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By Lyn Sims, Real Estate Broker Retired
LONG-TIME OCCUPANT HOMEOWNER EXEMPTION FOR COOK COUNTY   New exemption will allow homeowners residing in their homes 10 years or more to receive additional tax relief if the following requirements are met:   Homeowner with a total household income of $75,000 or below will have an increase limited to 7% over the prior year’s taxable value, with no maximum exemption amount. Homeowner with a total household income greater than $75,000, but not exceeding $100,000 will have an increase limited to 10% over the prior year’s taxable value, with no maximum exemption amount. So an example would be:  Your taxes are $3500 per year - the most they could increase would be $245 and you would have to make less than $75,000 per year. So an example would be:  Your taxes are $3500 per year - your income ...
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By Lyn Sims, Real Estate Broker Retired
Well is this good news?  We shall see.  Don't forget to look for this assessment change in your mailbox coming soon.  Don't forget that every Illinois homeowner has the right to protest their taxes if they feel they are being overvalued and over taxed. Just wanted to be sure that you were informed as the county doesn't seem to be getting the word out like it should.  This will effect all homeowners in Cook County! Cook County Assessor Announces First-Ever Downward Market Adjustment for Homeowners  (released 5/11/09) Cook County Assessor Jim Houlihan announced that residential properties not being reassessed this year will receive a market adjustment reflecting the real estate downturn. Residential properties in 30 suburban townships will receive reductions in their assessed value.  “The...
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By Dennis Toomey, Buying or Selling Talk TOoMEy!
(RE/MAX Action)
Schaumburg Real EstateDennis Toomey continuously monitors local real estate statistics to keep his clients informed and ahead of the real estate trends.  Below, at the end of the page you will find Schaumburg real estate statistics for the last 12 months as of June 12, 2009.To find the value of your home with a free, over-the-net home evaluation, please visit: www.KnowYourHomeValue.com/active or use this link http://www.knowyourhomevalue.com/remaxil/modules/global/forms/marketevaluation.asp?&acc=32722&s=active If you would like a free list of homes for sale in this area/neighborhood or would like more information about Schaumburg, please visit: www.GetYourRealEstateHere.com/active or use this link http://www.GetYourRealEstateHere.com/remaxil/modules/agent/agent.asp?p=findahome.asp&page=...
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