Big Sale on this Gorgeous Volo Townhome!

50% Off Real Estate Sale??

Real Estate for Sale Call Terry

We’ve all seen big price adjustments on real estate over the past months. But this is one of the biggest! This gorgeous Volo townhome is priced at about 50% of its original cost. Built by Town and Country and only 3 years old, it’s in a great location and has tons of upgrades. You can see the interior photos here. Read on for a list of some of the upgrades!

From the moment you enter, you’ll be enthralled! End unit townhome is perfectly located in a private location backing up to walking path. 9′ ceilings lend an expansive, airy feeling. Decorated in up-to-minute colors for a warm, inviting feeling. Great room and dining room have 5″, richly colored hardwood flooring. Eco-friendly texture is offered throughout with bamboo shades. Awesome kitchen with upgraded stainless steel appliances including built in microwave, stove, refrigerator and dishwasher. 42″ maple cabinets, Corian countertops, under cabinet lighting, pantry and breakfast bar complete the look. In the master suite you’ll enjoy the separate, spacious closets and spa bath. 5′ spa shower with 5 shower sprayers, ceramic tiling and glass doors. Raised maple cabinets and ceramic flooring give it a luxurious feel. Large utility room with washer and dryer, large storage area and maple cabinetry. Full hall bath has been upgraded with raised maple cabinetry and ceramic flooring. Ceiling fans in both bedrooms. Great room is wired for home theater system. Crisp, upgraded white millwork and doors are found throughout the home. Even the garage is cool! Epoxy finished flooring, insulated walls and door, cabinets and shelving for added storage. With over $45,000 in builder and homeowner upgrades, this is one home you don’t want to miss!

This townhome is located at Town and Country’s Remington Pointe,  just 10 minutes north of Lake Zurich at Rte. 12 just north of  Rte. 120. If you’d like to take a look, give me a call!

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Buffalo Grove IL 2010 Real Estate in Review

How Well Did the Buffalo Grove Real Estate Market Perform in 2010?

Real Estate for Sale Call Terry

The beginning of the New Year is when Realtors analyze the prior year market results. Good realtors know that the real estate market is highly localized and while you can analyze Chicago’s Northwest Suburbs, it gives you just an overview and not a true picture of a town’s activity. Let’s see how Buffalo Grove single family homes performed in 2010.

The number of single family homes sold in Buffalo Grove was up 10.5% over 2009 (230 vs. 208). This is good news as it shows a higher buyer demand for Buffalo Grove homes. More good news is that the market time was down 8.6% (116 days vs. 126 days).

The average sale price in Buffalo Grove was down 3% ($350,170 vs. $360,327), while the median sold price was up 1.3%. This doesn’t mean that every home in Buffalo Grove went down 3% in value. Fewer homes over $500,000 sold in 2010 which brought down the average sale price. For complete results, you can view the entire report by price range. If you’d like to know the value of your Buffalo Grove home, contact me. I’d be happy to prepare a Comparative Market Analysis.

Over the next week, I’ll be analyzing sale data from surrounding towns. Let me know which town you’d like to see next! You can see my article on Lake Zurich 2010 results by clicking here.

All statistical data used is provided by Midwest Real Estate Data, LLC (MRED).

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How Did Lake Zurich IL Real Estate Fare in 2010?

Lake Zurich IL 2010 Real Estate in Review

Pending Lake County Il SalesThe final numbers are in and I think you’ll be pleasantly surprised by the Lake Zurich results for 2010! If you’ve been listening to the national news you wouldn’t think that there’s any good real estate news. I’m here to tell you that the results as reported through Midwest Real Estate Data, LLC, are good for Lake Zurich!

When compiling these statistics, I compared 2010 to 2009 as reported by MRED.  The number of single family detached homes was up 3.5% over 2009 (177 vs. 171). That is in line with numbers being reported nationally by other sources. However, the really good news is that even with the increased number of sales, the average sale price is up 1% ($303,531 vs. $300,334). All the news that I’ve been hearing and reading indicates that while number of home sales is up, prices are down. That means that, in general, single family homes in Lake Zurich have outperformed the market! Total sales volume for Lake Zurich in 2010 was up 4.2%. If you’d like to see the report broken down by price range, you can view it here.

It’s important to remember that real estate is highly localized. If you’d like to know the value of your home, call me and I’d be happy to prepare a Comparative Market Analysis. I’ll be reporting results from other towns over the next week. Check back for your town!

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Should We Holiday Decorate Our Home For Sale?

Holiday Decorating When Your Home is on the Market

Real Estate for Sale Call Terry

Each year as we approach Thanksgiving, my seller clients ask “Should we take our home off the market for the holidays?” After I answer “no” (that’s another whole blog article!), the next question is “Should we decorate our house”? Relying on my 25 holiday seasons of showing and selling homes in Chicago’s northwest suburbs, my answer is yes. Here are a few simple tips that will allow your family to enjoy the holidays while still appealing to potential buyers.

1. Whether you call it minimalist or KISS (Keep it Simple Santa), less is more. If you usually have a 10’ fully decorated tree, perhaps this year you can try a smaller tree decorated with white lights and a few well-placed ornaments. If any size tree overpowers a room, this is the year for the table-top tree.
2. If you decorate outdoors, use a winter theme instead of a religious one. A simple wreath on the door and pots filled with greens create a sense of warmth at the front door. Leave the blow-up snowmen for next year at your new home!
3. Decorate your dining table for a holiday dinner. Winter whites, silvers and golds work really well. Complement this with a centerpiece of natural items such as pine cones and evergreen branches.
4. Use sensory staging to create a mood. Cinnamon or pine scents evoke a warm feeling in almost everyone. Burn a holiday scented candle for an hour or two before a showing and then extinguish. Never leave candles burning if you’re leaving for the showing.
5. Play soft, instrumental holiday music. Think Kenny G!
6. Keep your home well-lit and warm.

This past weekend, I showed 14 homes in Long Grove, Lake Zurich, Hawthorn Woods and Buffalo Grove to several different buyer clients. More than half of them were decorated for the holidays. Those that were moderately decorated, well-lit and smelling scrumptious caused the buyers to want to stay in the home longer. One of them may even be getting an offer in the next day or two!

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Lake Zurich Realtor Reports September Sales

Lake Zurich Home Pricing and Sales Report

Pending Lake County Il SalesEvery day Realtors are bombarded with information regarding home pricing, inventory, mortgage rates and trends. Consumers are also showered with a plethora of information. Much of that information is national and it’s important to remember that real estate is localized.  Lake Zurich home sellers and buyers want to know what’s going on in this market, not the San Francisco market. So, let’s take a look at what happened in Lake Zurich in September and what it means.

There were 12 home sales in Lake Zurich in September compared to 17 in September of 2009 and 17 in August, 2010. That’s a 29.4% decrease over those periods. As always, that doesn’t tell the whole story. The good news is that year -to -date sales are up 14.4% as compared to 2009.

The median sale price (half the properties sold above and half below) in September was $236,000. That’s down 13.6% from September, 2009, when the median was $273,000. The average Lake Zurich sale price was $250,875, down 10.9% from the September, 2009 average of $281,529. What that tells me is that now is a GREAT time to buy a home in Lake Zurich!

The attached report shows data collected by our local multiple listing service, MRED. The graphs tell the picture story and it’s quite interesting to see the trends. Lake Zurich is a town where housing prices vary widely by subdivision. If you’d like information on your particular house or subdivision, contact me and I’ll be happy to provide it.

Lake Zurich is a desirable town: great schools, great location, great shopping, and great people. In a market where many towns and homes are vying for the attention of the buyer pool, Lake Zurich has many benefits to offer. If you are looking for a home in the Lake Zurich area, contact me. We’ll grab a cup of coffee and have a chat!

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Lake Zurich Area Realtor Terry Dahlem Reports New FHA Guidelines

Short Sale Sellers May be Eligible for a New FHA Loan!

Real Estate for Sale Call Terry

One of the biggest challenges in today’s real estate market is the short sale. Under the current FNMA and FMAC guidelines, borrowers who have participated in a short sale must wait three years before obtaining a new home loan. With the new FHA guidelines, those borrowers may be able to qualify immediately for a new FHA loan.

As with all programs, there are restrictions. The mortgagee cannot have any late mortgage payments for the past twelve months. They must prove hardship, i.e.; job loss, job transfer, change in familial status to name a few. This CANNOT be used simply to take advantage of the market. For all of the information see the full HUD FHA information.

Real estate lending guidelines can be very confusing. Robin Baran of Coldwell Banker Home Loans helped me to sort this out. The bottom line is that it is not an easy fix and everyone won’t qualify. If your current home will not sell for more than you owe and you’d like to be able to purchase a new home, this may be an option for you.

It seems that each day we are bombarded with companies advertising that they can help in these situations. Before you call one of them, call me and I can introduce you to home loan professionals who can help you to assess your options. For people in this situation, it’s a difficult time. We’ll try to ease the way for you.

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Is This a Good Time to Buy a Home in Lake Zurich?

In a Word…YES!

Real Estate for Sale Call Terry

Low interest rates coupled with a fabulous selection of homes make it a GREAT time to buy a home in Lake Zurich! The opportunity for purchasing real estate in Lake Zurich has never been better. Currently, there are 189 single family homes on the market in Lake Zurich. Following is a synopsis of current offerings.

Right now there are 189 single family homes on the market in Lake Zurich. At the low end of $89,900, there is a 2 bedroom, 1 bath home in Echo Lake. At the high end is a brand new home on .6 acres. It offers 4 bedrooms and 3.1 baths and is listed at $999,900. The really good news is that 50% of the homes are listed between $200,000 and $350,000. They range from 3 bedroom, 1.1 bath homes to 4 bedroom, 3.1 bath homes. They’re located in a wide range of subdivisions.

If you’d like more information on homes currently offered for sale in Lake Zurich, contact me and we’ll have a chat!

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Lake Zurich Real Estate Results July 2010

What’s Going On in the Lake Zurich Housing Market?

Pending Lake County Il SalesHistorically, Lake Zurich has been a desirable area for home buyers. The July, 2010 statistics are available as reported through Midwest Real Estate Data, LLC. You can download the report here. It’s interesting to look at the report but let’s take a look at what it means in today’s market.

There were a total of 9 sales in July which was a significant percentage drop from June when there were 24 sales (-62.5%) Much of that can be attributed to seasonality. July  typically results in a lower number of properties sold. In addition, June 30th closings coincide with the April 30th tax credit deadline. Together, these two factors resulted in the lower numbers.

There was good news on the pricing front. The median sale price in July was up 25.8% from the same period last year. When we’re looking at pricing trends, we look at the year over year numbers along with the past three to six month history. Lake Zurich real estate prices appear to be leveling off.

Another important factor is the supply of inventory. Real estate, like any other commodity, reacts to supply and demand. A lower amount of inventory results in better prices and lower days on the market. There were 18.8% less homes on the market in July, 2010 than in July, 2009. This is the lowest July inventory in the past two years!

When you are thinking about buying or selling a home, these statistics are helpful but don’t tell the whole story. My business philosophy is, and always has been, that unless you are a real estate investor, you must first think about your home purchase as just that…a home. I can help guide you to a home that makes sense financially and personally!

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Buffalo Grove Real Estate Best Buy!

Strathmore Home Completely Updated!

This expanded Roxbury has just undergone a major rehab! It has all the things that discriminating buyers are looking for AND it’s in a great location in Buffalo Grove’s popular Strathmore subdivision!

This home had been on the market before. The seller decided that he would do all of the updates and improvements that agents and potential buyers had suggested after viewing the property. Well, he did it and he did it beautifully!

The kitchen remodel is fabulous with 42” cabinets and granite countertops. They even added a granite-topped island. New lighting and glass back splash add a contemporary flair. This is truly a kitchen to be proud of!

The kitchen is just one of the updates. Location and condition are superb and it’s priced at $389,900 -the right price! This home has everything going for it including desirable Stevenson High School! I invite you to take a photo tour and then contact me for your private showing!

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Home Buyers are Relocating to Lake County

Anatomy of a Relocation Buyer

Pending Lake County Il SalesHome sellers often ask if companies are still relocating employees in this economy. The answer is yes! In the past several months I have had the pleasure of working with 3 families relocating to the Lake County area. We searched for real estate in Buffalo Grove, Long Grove, Lake Zurich, Vernon Hills, Libertyville and Wauconda. There are certain factors that many relocation buyers have in common. As a home seller, it helps to know what these buyers look for. Here are the top 3 things:

SCHOOL DISTRICT: Since all three families have children, school district was very high on their list of priorities. Keep in mind that “good” means different things to different people. My job as a realtor is to identify what it is about the school that is important to each family and help them to achieve their goal. Interestingly, the three families purchased homes in 3 different school districts!

“GOOD” LOCATION: Once again, this is open to interpretation. What is desirable to one family may not be desirable to the next. So if you feel your home is locationally challenged, don’t worry – there’s a buyer for you, too!

IMPROVEMENTS: Relocating buyers really love to have updated kitchens and baths and they are willing to pay the higher prices that often accompany these features. Often they don’t know how long they will be here and don’t want to undertake a major renovation. Make sure your kitchen and baths look fresh. There are many things you can do to improve them without a major overhaul. Watch for more on that in future posts!

In the end, all buyers choose a home that feels good to them. When they can picture their family eating, playing and living in the spaces, that’s the home they choose.

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