The housing market is still strong in Chicago

The spring market is an important month for Realtors and also those looking to buy and sell. So far in 2016, it has not disappointed. April has turned out to be a solid month in the housing market. In fact, home sales were up an entire 8.2% from April of the previous year. Plus, average market time is down 8 days and the average sales price is up $17,500. Fortunately, interest rates are still low and there are minimal foreclosures and short sales on the market. All in all, this year has proved that there are more consumers looking to purchase, homes are selling quicker, and they are going for more money.

http://www.builderonline.com/money/prices/illinois-home-sales-up-82-in-april_o

Steven Johnson

Broker with Coldwell Banker

847-525-6121

Steven.Donald.Johnson@gmail.com

CLICK HERE to learn more about Steven Johnson; Broker with Coldwell Banker

Developers unable to secure Vernon Hills housing proposal

Despite a reputation for building quality homes in the Lake and Cook County area, the Jacobs Companies were unable to convince Vernon Hills trustees to accept their proposal to build town homes at the current site of The Forge Club, which was once a banquet hall for private events.

The proposal would have been met with great demand, as Vernon Hills has been expanding as a community this decade, as made evident with the recent expansions of Hawthorn Shopping Mall. Plus, the location off of Milwaukee avenue and its being adjacent to Lifetime Fitness would likely have made it a very hot community. Still, local trustees feared that it would lead to a large increase of traffic, which is already becoming an issue as the city has been growing. Although at this point in time the project appears to be going nowhere, there is always a chance it could resurface in the near future. After all, as changes to the community continue to grow, ideas and flexibility will increase as well.

 

Steven Johnson

Broker with Coldwell Banker

Cell:847-525-6121

Steven.Donald.Johnson@gmail.com

Servicing the Northwest Suburbs of Chicago

Learn more about Steven Johnson; realtor with Coldwell Banker

http://www.chicagotribune.com/suburbs/vernon-hills/news/ct-vhr-forge-club-housing-denied-tl-0512-20160506-story.html

Pre-Approval and buying a home

Every Realtor and experienced home buyer knows the importance of getting pre-approved for a loan before starting the home search. Here’s a quick list of reasons why you are better off talking to a lender right away:

  • You won’t know how much house you can afford until a lender checks your financial qualifications. There may be reasons that you do not know about that would make buying a home at a given price point easier or more difficult.
  • A Pre-approval letter is typically good for 3 months, and even after that point it is easy to get the letter renewed after it expires.
  • Most realtors will not start showing you homes until you’ve been pre-approved or at least spoken with a lender.
  • No seller will entertain an offer that is not accompanied by a pre-approval. letter/proof of funds. If you come across your dream home once you’ve started your search, you may miss out on it if you haven’t been pre-approved. The pre-approval process can take a few days. There’s always a chance that someone else will put an offer in too. Don’t miss out just because you failed to prove you are a qualified purchaser.
  • Once you’ve spoken to a lender, you will have a better idea of what your monthly payments could look like with your mortgage.
  • You can discuss with a lender what kinds of loans you can qualify for which could affect what kind of home you would want to purchase.

Steven Johnson

Broker with Coldwell Banker

Cell: 847-525-6121

Steven.Donald.Johnson@gmail.com

CLICK HERE to learn more about Steven Johnson, realtor with Coldwell Banker

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Lake County Home Sales Increase from March to April… Again

For the last three years in Lake County, Illinois, more homes have sold in the month of April than they have in the month of March. To the informed homeowner, this comes as no surprise. Many dub this month as “The start of the Spring market” since homes tend to be listed and sold at one of the fastest rates of any month. Still, despite the cold weather homes can sell in the Chicagoland area during the winter months too. In January of this year, Lake County still saw 544 homes sell and February saw 546. Now, compare that to the 920 homes sold in April this year and you’ll see that it’s clear that most buyers prefer to make purchases in the spring months. But why? Many say they want their kids to be in the new school district before the fall semester but don’t want them pulled out before the current school year is over. Others say it’s due to the warm weather. All in all, it’s likely the mindset that homeowners and first time home buyers are primed with on a daily basis. Realtors and homeowners alike say that more homes will become available for buyers to purchase in the spring months, and frankly they’re right. But this is the kind of thinking that helps perpetuate April as a mega month for sales and leaves the winter months as a lull. All in all, expect to see April outsell March in the Chicagoland market until this mindset begins to alter.

 

Steven Johnson

Broker with Coldwell Banker

Cell: 847-525-6121

Steven.Johnson@cbexchange.com

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Indian Creek Club Subdivision; Steven Johnson, Realtor with Coldwell Banker

I recently sold a home in the beautiful neighborhood of Indian Creek Club. For those who aren’t familiar, it’s a beautiful subdivision in Long Grove, Illinois off of Midlothian Rd. The subdivision boasts about 140 rather spacious homes and each has about a 1/4 acres of land. The homes are all two-stories and Indian Creek Club has an association which keeps the community clean and tidy. You’ll be impressed when driving through this community as the upkeep on all the homes is top notch. It also has a nice walking path throughout the neighborhood. It’s a relatively peaceful neighborhood. Given its location off Midlothian, there is not much car noise. Plus, the western part of the subdivision boarders farm land, making this a great, quiet location. One more unique aspect of Indian Creek Club is that although the elementary and middle schools are Mundelein schools, the High School that Indian Creek Club feeds into is Adlai E Stevenson High School in Lincolnshire. If you’re house hunting and come across a home in Indian Creek Club, I would recommend you schedule a showing. I hope to see you there!

 

Steven Johnson

Broker with Coldwell Banker

Cell: 847-525-6121

Steven.Donald.Johnson@gmail.com

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Cornell Lakes Subdivion in Palatine; Steven Johnson, Realtor with Coldwell Banker

I have a new listing in Cornell Lakes in Palatine. It’s a 2-story town home situated on a quaint, quiet pond making it a peaceful place to live.

If you haven’t been, Cornell Lakes is a very nice subdivision filled with four-flats and town homes. Built in the late 80’s/early 90’s, these homes are in great condition and are perfect for first time home buyers and investors alike. Plus, many of the owners like the fact that Cornell Lakes feeds into Fremd High School.

Each four-flat in Cornell Lakes has has 2 town homes with 2 floors of living space and 2 town homes with one floor of living space. The 2 level units are 2 bed/2.1 bath models and the one floor units are 2 bed/2 baths. Each unit has attached garage parking and separate entrances to the prospective unit. Typically sold as four-flats, some owners are choosing to split up each unit and start selling them individually. Either way, these are great opportunities for anyone in the market for a new place to live or landlords looking to make rental revenue.

 

If you have interest in buying in Cornell Lakes or if you currently own in the subdivision and are looking to sell, feel free to reach out to me and I’ll explain how my expertise in the area will get you the top results.

Steven Johnson

Broker with Coldwell Banker

827-525-6121

Steven.Donald.Johnson@gmail.com

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