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Hoffman Estates, IL Real Estate News

By Lyn Sims, Real Estate Broker Retired
Hello ..... what's happened to your noodle?  I mean your brain and your ability to make basic real estate happenings? I have a sale currently going at this time where the buyer is going minimum down FHA.  The lender will not allow any credits to the buyer so the purchase price must be reduced to cover those credits.  Seems pretty basic right? That's what I thought so I asked the buyers agent to begin the process and have the new sales price initialed by the buyer.  What I received was a 'correction' to the contract by the price which was just changed in Adobe.  How about those initials?  When do we just change a price and not get initials?  Did I miss that new seminar that it's no longer necessary? Then an email arrives saying the buyers agent is confused as to why this can't be done!  ...
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Illinois announces there are 22.3% less Realtors® throughout the state! But is that a good thing?  Was this 4 year process really going to be good for consumers or just a giant revenue generator for the State of IL? The IDFPR kept saying that extra training was really the effort in this entire 4 year process for license escalation.  In IL now, all agents must be brokers or transition to managing broker status with this last license renewal. "According to the IDFPR, there were 69,228 licensees on April 30, 2011. At the close of processing, the agency said there were 53,785 licensees. Regulators said they had expected about a 20 percent decrease in the overall number of licensees. The decrease released Tuesday amounts to 15,443 fewer licensees overall." Personally, I feel this is a good t...
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Spring Mill, Hoffman Estates, Illinois About Spring Mill Spring Mill is a townhome community built in the late 1970's and early 1980's. Spring Mill is located in Hoffman Estates south of Higgins Road and west of Roselle Road. Average taxes in Spring Mill $3,967 Average association fees in Spring Mill $192 ($176 - $207) Average home size in Spring Mill 1,383 ft2 Average lot size in Spring Mill 0.00 acres Average year built in Spring Mill 1976 Homes for sale in Spring Mill Address Beds Baths Built Price 369 Willow Tree Ct. 3 1.1 1974 $114,900 362 Cedar Tree Ct. 3 2.0 1977 $179,900 Sales Summary for Spring Mill  (Aug 10, 2011 - Aug 9, 2012) None Recent home sales in Spring Mill None Schools for Spring Mill Elementary Schools Lakeview Elementary School (District 54) Middle Schools Keller Ju...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Hoffman Estates, IL The data lists available homes by price range with average time on market in each range.   Included in this list are many Foreclosures and Short Sale properties. Contact us for information on how we may assist you in seeing these properties. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 19 156 $50,000 - $99,999 34 214 $100,000 - $149,999 24 160 $150,000 - $199,999 59 201 $200,000 - $249,999 28 172 $250,000 - $299,999 31 141 $300,000 - $349,999 21 148 $350,000 - $399,999 11 215 $400,000 - $449,999 15 141 $450,000 - $499,999 10 167 $500,000 - $549,999 2 184 $550,000 - $599,999 1 13 $700,000 - $799,999 1 76    Active Listi...
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Hoffman Estates IL Real Estate - Housing Report for May 2012 How to describe the current market for Hoffman Estates IL Homes?   We have actually been seeing a distinct improvement for the last 12 months.  Interest rates have never been lower with affordability being the best it's ever been.   The months supply of inventory for Hoffman Estates IL Homes has been steadily decreasing and has actually kept our recovery on an even keel. We have 19% less in housing inventory then we did a year ago.  Too many homes on the market makes it more competitive and prices are forced downward.   Another good indicator that the Hoffman Estates IL market is improving is the number of homes that go under contract each month. Currently we are at 18% for homes and 16% for townhomes/condos . This is terrific...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Hoffman Estates, IL The data lists available homes by price range with average time on market in each range.   Included in this list are many Foreclosures and Short Sale properties. Contact us for information on how we may assist you in seeing these properties. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 24 99 $50,000 - $99,999 44 240 $100,000 - $149,999 27 181 $150,000 - $199,999 54 190 $200,000 - $249,999 34 196 $250,000 - $299,999 20 120 $300,000 - $349,999 26 255 $350,000 - $399,999 12 262 $400,000 - $449,999 12 100 $450,000 - $499,999 9 88 $500,000 - $549,999 3 218 $550,000 - $599,999 2 252 $700,000 - $799,999 1 15    Active Listing...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Hoffman Estates, IL The data lists available homes by price range with average time on market in each range.   Included in this list are many Foreclosures and Short Sale properties. Contact us for information on how we may assist you in seeing these properties. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 21 105 $50,000 - $99,999 47 256 $100,000 - $149,999 25 186 $150,000 - $199,999 52 195 $200,000 - $249,999 37 166 $250,000 - $299,999 17 124 $300,000 - $349,999 21 291 $350,000 - $399,999 17 225 $400,000 - $449,999 13 97 $450,000 - $499,999 8 90 $500,000 - $549,999 3 210 $550,000 - $599,999 2 244 $700,000 - $799,999 1 7    Active Listings...
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By Lyn Sims, Real Estate Broker Retired
Hoffman Estates IL Real Estate Market Update - March 2012 Interest rates are low and housing affordability has been the best in decades and yes, the Hoffman Estates market is getting better! How much, where and all the particulars is what I'll be telling you here in this report!  The graphs below show that sales have been up for most towns in our area in both housing types.  Just within my office our showing appointments have increased a whopping 60% in March. Another good indication that our market is improving is the number of homes that go under contract each month. Currently we are at 19% to 21.5%. This is terrific! The inventory level (we call it the 'absorption rate') has decreased and it seems we have 'catapulted' into the busier spring months. The current inventory level has be...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Hoffman Estates, IL The data lists available homes by price range with average time on market in each range.   Included in this list are many Foreclosures and Short Sale properties. Contact us for information on how we may assist you in seeing these properties.   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. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 12 203 $50,000 - $99,999 44 247 $100,000 - $149,999 30 204 $150,000 - $199,999 35 310 $200,000 - $249,999 42 206 $250,000 - $299,999 15 159 $300,000 - $...
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By Lyn Sims, Real Estate Broker Retired
Fly on over to check this out in Hoffman Estates! The Northern Illinois Raptor Center will discuss and display live birds of prey on Saturday, March 24, from 1 p.m. to 2 p.m. at the Sunderlage Farmhouse, 1775 Vista Lane. This free program is sponsored by the Village of Hoffman Estates Historical Sites Commission. A number of raptors will eventually be housed at the mews at Vogelei Park. For more information, call 847-781-2606.       Check out another great photo of a Great Horned Owl from Mike Jones in Tucson, AZ. Mike takes the most awesome photos of the desert out there on his daily walks & this pic is truly exceptional. He's named it 'Focus'.
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Hoffman Estates, IL The data lists available homes by price range with average time on market in each range. Included in this list are many Foreclosures and Short Sale properties. Contact us for information on how we may assist you in seeing these properties. 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. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 15 250 $50,000 - $99,999 52 224 $100,000 - $149,999 30 264 $150,000 - $199,999 41 314 $200,000 - $249,999 38 262 $250,000 - $299,999 18 211 $300,000 - $349,...
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By Lyn Sims, Real Estate Broker Retired
Hoffman Estates IL Home Search - Find your new home right here! There are many great Hoffman Estates selections to choose from as the map shows!  Easily see how many homes are in your type - either Single Family or Townhomes (includes condos). Need a buyers agent? Are you pre-qualified by a lender? Home Search by Hoffman Estates Subdivisions Homes in Hoffman EstatesMore Hoffman Estates homes for saleGet this widget
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By Lyn Sims, Real Estate Broker Retired
There's been much talk (chatter by the national talking heads) in the media about our Northwest Suburban and Hoffman Estates home values returning to a previous level. I read these reports constantly, day in and day out and wonder to myself 'How do they know this stuff when I don't even know it!'Real estate is unique in that it is very local in nature. In fact, real estate is so unique it can even be broken down further to say that neighborhoods even in the same town will been effected differently. What happens in one subdivision doesn't necessary happen in another. What effects one subdivisions appeal doesn't effect another that's even similar. So 'painting with a broad brush' is not possible in our Hoffman Estates neighborhoods.Any Hoffman Estates real estate professional I will chall...
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By Lyn Sims, Real Estate Broker Retired
Looking for a home in the Hoffman Estates IL area?   Check out what's available in Hoffman Estates IL Homes now!These are the current market numbers and availability for Hoffman Estates IL Homes.  Lots of great home selections (142 total) with some below the $150,000 range and we've got great custom construction for price ranges above that!  Best selection is between $150,000 to $250,000. The current average listing price for Hoffman Estates Homes is $295,000.  Some 'handyman specials, foreclosures and fixer uppers' are available for buyers trying to get instant equity in the market by doing the work themselves!  If you consider yourself handy some start at just $84,900 so you better get movin' on those!Begin your search for what's currently available in Hoffman Estates IL Homes.  Other...
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By David Spencer, Show Me real estate in Kansas City
(Keller Williams Northland)
The table below lists all of the single family detached and single family attached homes currently on the market in Hoffman Estates, IL The data lists available homes by price range with average time on market in each range.   Included in this list are many Foreclosures and Short Sale properties. Contact us for information on how to process.   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. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 13 239 $50,000 - $99,999 60 212 $100,000 - $149,999 29 289 $150,000 - $199,999 53 268 $200,000 - $249,999 40 243 $250,000 - $299,999 25 231 $300,000 - $349,999 15 320 $350,000 - $399,999...
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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 Hoffman Estates, IL The data lists available homes by price range with average time on market in each range.    Included in this list are many Foreclosures and Short Sales.   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. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 7 493 $50,000 - $99,999 50 283 $100,000 - $149,999 35 268 $150,000 - $199,999 52 280 $200,000 - $249,999 39 244 $250,000 - $299,999 26 255 $300,000 - $349,999 18 261 $350,000 - $399,999 13 238 $400,000 - $449,999 15 204 $450,000 - $499,99...
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By Bill Ness, 55Places.com, Active Adult Community Guide
(55Places.com)
Haverford Place is a small 55+ community located in Hoffman Estates, Illinois. This completed community of just 184 single-family ranch homes is popular for its premiere location near the bustling town of Schaumburg. Schaumburg offers visitors enjoy world-class shopping at the Woodfield Mall plus countless of other national retailers, restaurants, outdoor entertainment and much more. Ryland Homes built the Haverford Place community between 2004 and 2009.  Today there are wonderful options to purchase a well-cared for resale home priced from the mid $300’s to the high $400’s. The home pricing at this particular community is higher than other IL active adult communities due to the highly sought-after location of Haverford Place. All of the homes are single-family designs with first floor ...
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By Lyn Sims, Real Estate Broker Retired
Buying wins!  At least here in our Northwest Suburban Chicago Area. Hoffman Estates home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities. If you are a buyer why not take advantage of this opportunity? Ok, you're skeptical, here is more ammo that purchasing is a great idea! Trulia's report in which they discovered that buying is better than renting in 74% of major U.S. cities!   Homeownership in Chicago Cheaper Than Renting - Chicago is among 12 metro areas where it is cheaper to own a home than to rent, according to a recent Wall Street Journal survey (Stronger Lure for Prospective Homebuyers) comparing monthly mortgage payments o...
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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 Hoffman Estates, 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. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $49,999 4 287 $50,000 - $99,999 43 263 $100,000 - $149,999 35 260 $150,000 - $199,999 47 286 $200,000 - $249,999 54 205 $250,000 - $299,999 41 183 $300,000 - $349,999 29 186 $350,000 - $399,999 22 167 $400,000 - $449,999 13 229 $450,000 - $499,999 10 122 $500,000 - $549,999 4 395 $550,000 - $599,999 1 155 $6...
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Signs of life in our Hoffman Estates Real Estate Market recently.  We are moving ahead and sales have finally reached above the 2010 level of closings.  For the 3rd Quarter of 2011 Hoffman Estates Single Family Homes are 20% above 2010 closings and Hoffman Estates Multi-Family are an amazing 45% over 2010.As of yet there are still no price gains that I can see with the foreclosures still leading the way in current sales. If all goes well, the next trend will be for prices to finally level off and slight increases to begin.  This also would depend on how much inventory we have going into the winter months ahead. Currently the number of properties for sale is also down from the 2010 levels.Looking for an agent that knows this fluctuating market?  Give me a call to discuss your housing sit...
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