Helpful Info
Buffalo Grove Real Estate Data Shows Increase in Sales
September 1, 2010 by Sharron · Leave a Comment
The most recent data for Buffalo Grove real estate sales shows an increase of over 38% in the number of single family homes sold compared with a year ago. This significant increase may have been induced by the home buyer tax credit, but it appears to be stabilizing without it. The amazing low interest rates and higher-than-normal inventory are combining to entice prospective home buyers into the Buffalo Grove real estate market.
While Buffalo Grove home values appear to be leveling off, it continues to be a buyers market. There are some bargains out there, including a few short sale properties. It is important to use a qualified Buffalo Grove Realtor to locate the best deal however, as not all bargains are as good as they may sound.
The quality of life and the sense of community in Buffalo Grove Illinois will continue to make it a desirable place to call home. If you are considering buying Buffalo Grove real estate please contact me today. I have access to all homes that are currently listed for sale in the area and have the knowledge and experience that you need to make an educated and informed decision on exactly where you want your next home to be.
Please contact me, Sharron Kelley, today at 847-465-3638, for the latest updates on Buffalo Grove real estate. Click here for free access to the Buffalo Grove MLS, to view all available real estate in Buffalo Grove, Long Grove, Vernon Hills and Palatine Illinois.
Palatine Schools: District 15 & 211 Draws Buyers to Palatine
August 17, 2010 by Sharron · Leave a Comment
District 15 is made up of 20 schools, the third largest elementary district in Illinois. District 211 is made up of 2 great high schools that hold acclaim to many honors in accademics and sports. These great schools attract palatine buyers and make it easy for more then 65,000 people who live in palatine to provide excellent educations for their children.
Palatine Schools Include:
Palatine Schools District 15 – http://www.ccsd15.net/Home/
Elementary Schools in District 15:
Central Road School – http://www.ccsd15.net/OurSchools/Elementary/HTML/centralroad.html
3800 Central Road, Rolling Meadows
Frank C. Whiteley School – http://www.ccsd15.net/OurSchools/Elementary/HTML/frankcwhiteley.html
4335 Haman Avenue, Hoffman Estates
Gray M. Sanborn School – http://www.ccsd15.net/OurSchools/Elementary/HTML/graymsanborn.html
101 N. Oak Street, Palatine
Hunting Ridge School – http://www.ccsd15.net/OurSchools/Elementary/HTML/huntingridge.html
1105 W. Illinois Avenue, Palatine
Jane Addams School – http://www.ccsd15.net/OurSchools/Elementary/HTML/janeaddams.html
1020 E. Sayles Drive, Palatine
Kimball Hill School – http://www.ccsd15.net/OurSchools/Elementary/HTML/kimballhill.html
2905 Meadow Drive, Rolling Meadows
Lake Louise School – http://www.ccsd15.net/OurSchools/Elementary/HTML/lakelouise.html
500 N. Jonathan Drive, Palatine
Lincoln School - http://www.ccsd15.net/OurSchools/Elementary/HTML/lincoln.html
1021 N. Ridgewood Lane, Palatine
Marion Jordan School – http://www.ccsd15.net/OurSchools/Elementary/HTML/marionjordan.html
100 N. Harrison Avenue , Palatine
Pleasant Hill School – http://www.ccsd15.net/OurSchools/Elementary/HTML/pleasanthill.html
434 W. Illinois, Palatine
Stuart R. Paddock School – http://www.ccsd15.net/OurSchools/Elementary/HTML/stuartrpaddock.html
225 Washington Court, Palatine
Thomas Jefferson School – http://www.ccsd15.net/OurSchools/Elementary/HTML/thomasjefferson.html
3805 Winston Drive, Hoffman Estates
Virginia Lake School – http://www.ccsd15.net/OurSchools/Elementary/HTML/virginialake.html
925 N. Glenn Drive, Palatine
Willow Bend School – http://www.ccsd15.net/OurSchools/Elementary/HTML/willowbend.html
4700 Barker Avenue, Rolling Meadows
Winston Campus Elementary – http://www.ccsd15.net/OurSchools/Elementary/HTML/winstoncampuselem.html
900 E. Palatine Road, Palatine
For Early Learning in Palatine:
John G. Conyers Learning Academy – http://www.ccsd15.net/OurSchools/TheLearningAcademy/
Junior High Schools in District 15:
Carl Sandburg Junior High School – http://www.ccsd15.net/OurSchools/JuniorHigh/HTML/carlsandburg.html
2600 Martin Lane, Rolling Meadows
Plum Grove Junior High School – http://www.ccsd15.net/OurSchools/JuniorHigh/HTML/plumgrove.html
2600 Plum Grove Road, Rolling Meadows
Walter R. Sundling Junior High School – http://www.ccsd15.net/OurSchools/JuniorHigh/HTML/walterrsundling.html
1100 N. Smith Street, Palatine
Winston Campus Junior High – http://www.ccsd15.net/OurSchools/JuniorHigh/HTML/winstoncampusjh.html
900 E. Palatine Road, Palatine
High Schools in District 211:
Palatine High School – http://www.phs.d211.org/
1111 Rohlwing Road, Palatine
William Fremd High School – http://www.fhs.d211.org/
1000 South Quentin Road, Palatine
Palatine feeds into many different schools that offer an education at the highest standards. Success rates for students that go through the Palatine Schools are very high. For ranking information on a specific school visit LocalSchoolDirectory.com and select the specific town you are researching. Palatine Home Owners can take pride in the excellence in education that the town has to offer.
Fremd High School
Fremd High School opened up in 1963 as Palatine High School South to fit the growing needs of the town. The school has a 99% graduation rate for the students. Since 1998 15 students have scored a 36 on their ACT’s, the highest score possible. Fremd sponsors interscholastic teams for young men and women and also sponsors 65 clubs and activities ranging from cultural and artistic to academic and technology. Fremd has been given the Blue Ribbon School of Excellence award.
Palatine High School
Palatine High School was founded in 1875. It was the first public high school in the Northwest Suburbs of Chicago. The school has received the U. S. Department of Education’s Blue Ribbon Award and won the 1999 Peaceleader Award from the Illinois Center for the Prevention of Violence. The school currently ranks in the 1300 schools for Newsweek Magazine. Palatine High School currently offers over 80 extracurricular activities for students to participate in and has placed many times in the top four while competeing in State Compitions.
Many of my clients relocate specifically for the Palatine Schools and we work hard to find them homes in Palatine. The Sharron Kelley Team works diligently to satisfy all of the needs of our buyers who desire to live in the Palatine community.
For more information on the Palatine Park District – http://www.palatineparkdistrict.com/
Palatine Real Estate
If you are looking to buy or sell a Palatine Home, contact me via email sharron@northernillinoishomes.com or call me at 847-465-3638. We are your Palatine experts working out of Coldwell Banker and we work for you. Contact your Palatine Realtor today!
The Essence of Long Grove Illinois
August 8, 2010 by Sharron · Leave a Comment
The catch phrase for Long Grove Illinois says it all, “Yesterday’s Charm, Today’s Lifestyles”. The northern Illinois town mixes the best of both worlds, combining the charm of the past with the best of today. Whether you are looking for dining, shopping, recreation, or culture, it can be found in Long Grove.
In addition to the normal day
-to-day activities available in this wonderful town the annual calendar is filled with fun events, from the Ice Meltin’ Blues at the end of March to the Strawberry Fest held in June, family fun is present and memories are always ready to be made.
If you would like to learn more about Long Grove Illinois, either as a place to visit or a town to call home, do not hesitate to call me today. I pride myself on my knowledge of Long Grove and am available to educate and inform you on what is happening in northern Illinois.
If you would like more information on Long Grove Real Estate, contact me, Sharron Kelleywww.NorthernIllinoisHomes.com for all of your real estate needs. at 847-465-3638 or email me at Sharron@NorthernIllinoisHomes.com. Click here for some information on market pricing in regards to homes in Long Grove IL.
Information For Buyers and Sellers Regarding Short Sales
July 6, 2010 by Sharron · Leave a Comment
Most people do not understand the process of short sales, it is important whether working with buyers and sellers on a short sale that you explain what a short sale is, how is works and how long you could potentially wait for a successful short sale.
This information below is very useful and I recommend that all of my clients read up on short sales so they know what they are getting into with regards to time that is takes to get a definate answer from the bank and understanding what a short sale is.
Q: What is a short sale?
A. With real estate prices currently at 2005 levels, many homeowners find themselves needing to sell, BUT discover they owe more than the homes current value. Reason’s for selling can vary from a job transfer, to a homeowner no longer able to make mortgage payments due to job loss, recent divorce, business failure, or a Sub-prime ARM reset.
If the reason for selling can be documented and attributed to a distressed situation, a homeowner may qualify for debt forgiveness. To do so, requires the homeowner to prove that they do not have, or will not have the money now or in the near future to pay back the difference between the homes value and the mortgage balance.
Q: How is the process initiated?
A: Before any conversation with the lender, the home is listed for sale. While the home is listed for sale, the homeowner and their agent should prepare a “short sale” packet, including the seller’s financials and a “hardship letter”. Upon receipt of an offer, the seller can sign off on the terms of sale, but terms are not official without the lender’s approval.
The sale status now becomes Pending: Back-Up Offers Requested, as most lenders will require listing agents to submit all offers until approved by the lender. In the meantime, the short sale packet is place in a que and awaits review by the lender. An initial response from the lender usually takes between one to three months, but can take longer as we have all discovered.
Q: When does the bank become involved?
A: Lenders typically do not talk to the seller or listing agent until there is a purchase offer in hand. The list price may be far less than the bank is willing to initially accept, which could cause confusion with the buyer.
When a purchase offer is received by the lender, a Broker’s Price Opinion is ordered, and the lender assigns a negotiator to work with the lender, investor (eg. FNMA) and the buyer to help them come to terms. Once the lender approves a price, they send an approval letter with an end date by which the transaction must close.
The timeframe for an inspection and financing contingency typically begin upon lender approval. Because of the lengthy wait, or because of negotiations involving the lender’s higher BPO, it is not unusual for the first buyer to walk away. Many agents have found that the price the lender is willing to accept, decreases as the foreclosure date draws closer.
It is the BUYER’S agent’s job to research the seller’s financial situation to determine the likelihood of the bank accepting the desired price. It is essential to explain the process to both buyers and sellers to manage expectations and eliminate last minute confusion.
It’s important to know that lenders will negotiate, so start an offer below your walk away price. Today, lenders are beginning to realize that losses are greater with a foreclosure, than with a short sale. Because of the large number of pending foreclosures, lenders are more inclined to work with interested buyers before the process reaches foreclosure.
Q: Do most short sale require the buyer to skip an inspection?
A: Because homes in distressed situations are often not cared for, it is highly recommended to get an inspection. The inspection can be done upon mutual acceptance with the seller, to avoid waiting the 1-5 months for lender approval. Obviously this could put the $400-$500 at risk, should the transaction not close.
Should the inspection uncover needed repairs, you may find that the seller is not in a position to make those repairs. In this case, it may be possible to re-negotiate the price with the lender, but it is more likely that that the investment in an inspection will do little more than alert the buyer as to the condition the home and what items need to be addressed in the future.
Q: Some say that only 10% of the short sales come to sale and the rest become bank owned. Is this a realistic success ratio?
A: Short Sale Buyers need to be flexible!!! They are wise to look at other options while waiting on the lender response. And because of this, the numbers are skewed because so many short sale buyers walk away when they find a better opportunity. When worked properly, your success ratio will dramatically increase.
Long Grove Schools Offer a Great Education
May 19, 2010 by Sharron · Leave a Comment
District 76, District 79, District 96, and District 125 are much sought after schools that have Long Grove Home Buyers relocating to the area.
Long Grove Homes Feed into Great Schools
Fremont School District 96 – http://www.fremont.lake.k12.il.us/
Fremont Elementary School
28908 N. Fremont Center Road, Mundelein, IL
Fremont Intermediate School
28754 N. Fremont Center Road, Mundelein, IL
Fremont Middle School
28871 N. Fremont Center Road, Mundelein, IL
Willow Grove Kindergarten Center – http://www.district96.k12.il.us/WG/
777 Checker Road, Buffalo Grove, IL
Country Meadows Elementary School – http://www.district96.k12.il.us/CM/
6360 RFD Gilmer Road, Long Grove, IL
Kildeer Countryside Elementary School – http://www.district96.k12.il.us/K/
3100 RFD Old McHenry Road, Long Grove, IL
Woodlawn Middle School – http://www.district96.k12.il.us/W/
6362 RFD Gilmer Road, Long Grove, IL
Diamond Lake School District 76 – http://www.d76.lake.k12.il.us/
Fairhaven School – http://www.d76.lake.k12.il.us/fh/fairhaven.html
634 Countryside Highway, Mundelein, IL
Diamond Lake School – http://www.d76.lake.k12.il.us/dls/diamondlake.html
25807 Diamond Lake Road, Mundelein, IL
West Oak Middle School – http://www.d76.lake.k12.il.us/wo/westoak.html
500 Acorn Lane, Mundelein, IL
Adlai E. Stevenson High School – http://www.d125.org/
1 Stevenson Drive, Lincolnshire, IL
Long Grove feeds into many different schools, all of which are well known schools that provide a great education for Long Grove Home owners. For ranking information on a specific school visit LocalSchoolDirectory.com and select the town the school is located in. Long Grove Schools are known for their high academic standards and feed into the Nationally acclaimed Stevenson High School.
Stevenson High School
Stevenson High School opened up its doors in 1965. Stevenson High School has earned a number of awards since its beginning in 1965. The school was the first public high school in Illinois to receive four Blue Ribbon Awards for Excellence in Education from the U.S. Department of Education. Stevenson was awarded Blue Ribbon Awards in 1987, 1991, 1998 and 2002.
Newsweek, U.S. News and World Report regularly have included Stevenson High School in their lists of America’s best public high schools. Newsweek 2008 rankings put Stevenson at #153.
Stevenson is known to base their standards of teaching around their Vision and Values Document which makes pertinent three ideas; Teaching and Learning Student Responsibility, Excellence in Education and Success of Every Student. Stevenson is also known for the extracurricular activities; boys gymnastics team just won the Illinois High School Association state championship May 14th, its fourth title in the past nine years. Stevenson has brought home many state and national awards over the years that has put this high school on top for sports as well as education.
Long Grove Montessori Schools
If you are moving to Long Grove and require daycare for your young ones, Long Grove Montessori Schools are always a great option. Montessori schools are self-learning environments where children are provided the tools to learn and develop at their own pace while having fun. Teachers here are certified and wonderful care givers speaking from experience.
Montessori School of Long Grove – http://www.montessorilonggrove.com/
1115 Robert Parker Coffin Road, Long Grove, IL
Lincolnshire Montessori School – http://www.lincolnshiremontessori.org/
1660 Checker Road, Long Grove, IL
Carmel Catholic High School
For Long Grove Home owners who prefer a private education Carmel Catholic High School offers a great education with extremely high standards. Carmel was recognized with the Blue Ribbon School Award of Excellence by the United States Department of Education in 1985, 1996, 2002, and 2007. The school emphasizes a college preparatory curriculum and offers 17 advanced placement classes.
In sports the following teams have placed in the top four in their respective IHSA sponsored state tournament:
- baseball: 3rd place (2003—04)
- football: State Champions (2003—04)
- golf (boys): 3rd place (1975—76)
- gymnastics (girls): 4th place (2005—06); 3rd place (2004—05); 2nd place (1990—91); State Champions (1991—92, 92—93, 2009—2010)
Carmel Catholic High School – http://www.carmelhs.org/
1 Carmel Parkway, Mundelein, IL
Many of my clients relocate specifically for the Long Grove Schools and we work hard to find them the homes in Long Grove. The Sharron Kelley Team works diligently to satisfy all of the needs of our buyers who desire to live in the Long Grove community.
For more information on the Long Grove Park District – http://www.longgroveparkdistrict.com/
Long Grove Real Estate
If you are looking to buy or sell a Long Grove Home, contact me via email sharron@northernillinoishomes.com or call me at 847-465-3638. We are your Long Grove experts working out of Coldwell Banker and we work for you. Contact your Long Grove Realtor today!
What Are the Lenders Doing to Real Estate Values in Buffalo Grove and Elsewhere
May 16, 2010 by Sharron · Leave a Comment
We all live in a different world today when it comes to selling homes in Buffalo Grove. As a Buffalo Grove Realtor it is not easy to explain the home selling process and new values of homes from where they were two years ago.
If you recently purchased real estate, then most likely the value of your home today is lower then what you paid for it. Short Sales and Foreclosures are now considered as home comparables by the lenders. The banks do not care that you may have put in $50,000 in recent improvements; they are just looking at numbers.
I recently had two lender appraisals done on two of the properties that I sold and both appraisals came in under what the buyers of these homes paid for them. Today we have two appraisals, the first one being from an appraiser and the second one from the underwriters at the bank. The underwriters are making the final decision in the loan committees.
Real Estate Values in Buffalo Grove are Determined by Appraisals
What is so very difficult for our Buffalo Grove Home sellers to understand is that if the bank decides to come back with a different home value then the buyer will only get the loan based on the what bank says and not the sale price.
In today’s Real Estate market the Buffalo Grove home buyers are not willing to pay over the appraised value made by the bank so we go back to the beginning. The sellers do not want to reduce the price and the buyers will not pay more.
In the End, the sellers have to agree if they want to sell their home. What the banks are not telling you is that they are now sitting on millions of foreclosures that will be coming on the market and the Commercial Real Estate Market is about to start a massive foreclosure process.
This is going to drive the residential housing market in Buffalo Grove and elsewhere for years to come, so if you want to sell your home; waiting is not going to be financially beneficial.
With Elections due to happen in the near future and new banks being built on every corner, maybe it is time for us to speak up. Our Money bailed out the banks and the control they now have over our lives and retirement funds is totally out of balance.
If you are would like to find out more information about your Northwest Suburban home in Illinois contact me your Buffalo Grove Realtor, Sharron Kelley at 847-465-3638 or email me at sharron@northernillinoishomes.com. For more real estate information visit my website at www.NorthernIllinoisHomes.com.
