Real Estate Consumer Info.com

Lexington Green is a large coach home community located off Meacham Road just south of Schaumburg Road on both the east & west sides of the street.  The community does offer a pool and clubhouse for the residents and exterior maintenance, snow removal, scavenger service and common area insurance is included in the monthly assessments.  A great golf driving range is located nearby along with the Fox Run Golf Course.  Close to Woodfield Mall, great restaurants and fast access to 355 North or South.

 I have a lot of buyers ask me "What is a coach home or a manor home anyway"?  It all started with Lexington Builders on the eastern edge of Schaumburg somewhere 30 years ago.  A 'Coach Home' is simply a different name for a "quad" or group of 4 homes put together.  In the coach home layout there are 2 homes on the 1st floor and 2 homes on the 2nd floor.  Then 2 of these groups of 4 are put together for a total of 8 and 'voila' the coach home!  Some other builders in the area also spun the name 'Manor Home' but it is the same concept.

There are 4 models to choose from in Lexington Green and could be either on the 1st (patios) or 2nd floors (balconies).  Each model has something unique to offer with "C" and "B" units having closet pantries and are middle units.  "A" and "D" units offer larger eat-in Kitchens and a formal Diningroom space.  A one car garage is included with each home.

C Units 2BR 1BA, Low price of $143,000 to the High Price of $187,000     7 total units closed

B Units 2BR 2BA, Low price of $172,000 to the Hgh Price of $190,000     2 total units closed

D Units 2BR 2BA, Low price of $180,000 to the High Price of $223,000    2 total units closed

A Units 3BR 2BA, Low price of $205,000 to the High Price of $218,000    3 total units closed

If you are looking to sell your coach home in Lexington Green or looking to purchase a home in Schaumburg, please don't hesitate to begin your search at my Home Search Website.  You can search for ALL homes listed on the market in the MLS of Northern Illinois and beyond regardless of what company it is listed with.  I bet there are a couple of homes on the market right now for us to look at!

Not familiar with the Village of Schaumburg?  Village Overview

Having someone in your corner with over 20 years experience will ensure every detail of your purchase or sale is handled smoothly!  Looking forward to working with you!

LYN SIMS      RE/MAX Suburban (847)230-7324

or Email her at LynSims@remax.net with any questions you might have on Lexington Green or purchasing a home in general.  She's got over 20 years experience in the area!

Closed Sales MLS MRED Jan-June 2008, this article published 7/25/08

 

                       
    © 2007 - 2010 Lyn Sims

       

GET YOUR EXERCISE AND CHECK OUT ALL THE GREAT SHOPS AT WOODFIELD!  WOODFIELD WALKERS GROUP MEETS ONCE A MONTH IN THE CENTER COURT!

TOTALLY INDOORS SO YOU CAN GO RAIN, SHINE, SLEET AND OTHER NASTINESS OUTSIDE!  SET YOUR OWN PACE WALKING THE PERIMETER OF THE MALL!

ALEXIAN MEDICAL CENTER PRESENTS... WOODFIELD WALKERS MEETING
The Woodfield Walkers meeting is this Friday, July 25th, from 8:00a.m. - 9:00a.m. in Comcast Connections Court. This month's topic is "New Hope for Back Pain". Join Dr. Franklin Mardin for a presentation about treatments for spinal compression fractures. Dr. Mardin will discuss new procedures such as Vertebroplasty are providing relief to patients suffering debilitating back pain from spinal fractures.

Woodfield Walkers is a FREE club open to everyone. To sign up, simply fill out a form at Guest Services, next to Comcast Connections Court, after 10:00a.m. Monday through Saturday and after 11:00 a.m. on Sunday or log onto shopwoodfield.com/walkers. Your membership entitles you to receive a Passport to Savings booklet for valuable discounts to numerous Woodfield stores and restaurants.

LOOKING TO PURCHASE OR SELL A HOME IN THE SURROUNDING WOODFIELD COMMUNITIES?  I'M THE PERSON TO CALL WITH OVER 20+ YEARS EXPERIENCE IN THE AREA!

Lyn Sims at RE/MAX Suburban (847)230-7324

Northwest Suburban Areas of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Medinah, Itasca, Bloomingdale, Carol Stream, Hanover Park, Bartlett, Streamwood, Elgin, South Elgin, St. Charles.

 

                       
    © 2007 - 2010 Lyn Sims

       

What makes a Market Expert?  I’m sure to each of you reading this it would take a different answer.  The dictionary describes an expert as:  ‘having, involving, and displaying special skills or knowledge derived from training or experience.’  With that said, let’s begin talking about the Schaumburg IL Real Estate Market Place of which I have been part of for the last 20+ years. 

What is going on really?  This post started with trying to update the consumer with numbers that they can both understand and use with regard to area home sales.  With all the bad press that the real estate market is getting on the news and now with Freddie Mac and Fannie Mae failing badly, most people want to know what will happen now? 

Since I don’t know the outcome yet on how it can effect our marketplace, let’s talk about what I do know - right now - and what has happened with market conditions for January thru June 2008. 

People always ask me “Lyn, how many homes are selling?”   Well that seems to make a difference in what area or subdivision you live in.  It’s really not an evasive answer.  Each area and subdivision is totally different!  Here’s what I do know about the Schaumburg market –

Single Family Homes 

Schaumburg averages 6 home sales a week.  The 1^st quarter sales were only 4 homes per week but since May 1^st there seems to be a spark of excitement that has the average up to 7 homes per week.  That's good news!   Now since July 1^st we’ve tapered down to only 3 sales a week.  Summer time traditional slowdown is possible.

Median Price was $321,000 for the 1^st quarter of 2008.  Seems lower than usual to me but then most of the market surge has been with first time home buyers.  Median Price since May 1st to the present is $313,000 which shows a further slowdown. 

Single Family numbers work out to 298 homes on the market with 26 going under contract for June.  That is a little under 9%.  This means that only a little under 9% of homes on the market have sold every month in Schaumburg! 

Multi-Family Homes  – these are the townhomes, quads, coach homes, manor homes and condos that everyone is familiar with in our area.

Schaumburg Multi-Family is averaging 13 sales per week during the 1^st quarter.  Then since May 1^st there seems to be a decline in sales to only 12 per week which coincides with the above single family numbers.

Median Prices were $183,000 for the 1^st quarter of 2008.  Since May 1st the prices are on the increase to $192,000.  This means a larger supply of homes in the higher dollar range have sold to bring up the median price number. 

There were a total of 569 homes for sale and 50 went under contract for June.  This means that only a little under 9% of homes on the market have sold every month in Schaumburg! 

My goal every month for all my clients is to be sure they are included in that 9% every month.  How can they do that? 

Can my home really sell?  My answer is – you bet!  You just have to be a little more flexible and a little more patient in this marketplace and do a lot more work!  The buyers are out there!

What's your main reason to move? 15 Reasons why People Sell their Home

6 Common Problems that Spook Buyers

Top Selling Subdivisions by Price Range

Top 5 Selling Subdivisions (Multi-family)

10 Ways to Make Buyers Hate Your House

Curious about Closing Costs?

Schaumburg - A great place to live!

Lyn Sims at RE/MAX Suburban (847)230-7324

 

                       
    © 2007 - 2010 Lyn Sims

       

Why Now is a Smart Time to Buy!

Now is a great time to buy a home, say the financial gurus at the Wall Street Journal, so GET OFF THAT FENCE!

The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their advice is solid, it's not revolutionary, but some potential customers might find it reassuring.

Remember this is a place to live not a stock market investment, they say. Lenders want buyers to spend no more than 28 percent of their gross monthly income on mortgage payments, real estate taxes, and home insurance. Buyers shouldn't count on stretching further because lenders won't approve their loans.

• Cash is king.  Having enough money in the bank to pay closing costs that are typically an additional 2 percent to 3 percent of the price of the home is necessary.

• Location, Location, Location.  As any good real estate professional knows, homes in good school districts where the crime is low are much more likely to hold or increase their value.

• Compare.   Besides just looking at the comps(houses that sold), buyers should examine what it would cost to rent a similar house in the same area and they might consider what it would cost to buy land and build a comparable home.

• Think long haul.  It will probably take at least six or seven years of living in the house to be able to sell and come out ahead.

So this is how the my market graphs work.  Let's say that your pre-approved purchase price is in the $250,000 to $275,000 range and you would like to start looking for a single family home.  There are currently 112 home selections in that range in both Schaumburg and Hoffman Estates.  OR

You are looking for a townhouse or something similiar in the $250,000 to $275,000 price range and your current selections are 73 shown in the lower graph for Multi-family homes.

Area Market Survey CriteriaActive Single Family Homes for Schaumburg & Hoffman Estates IL              7/9/2008 Lyn Sims at RE/MAX Suburban (847)230-7324

Active Listings

List Price Range # Listings Avg. Days on Mkt $150,000 - $199,999 3 18 $200,000 - $249,999 25 176 $250,000 - $299,999 112 154 $300,000 - $349,999 109 152 $350,000 - $399,999 74 130 $400,000 - $449,999 41 169 $450,000 - $499,999 58 136 $500,000 - $549,999 32 101 $550,000 - $599,999 14 138 $600,000 - $699,999 28 148 $700,000 - $799,999 12 238 $800,000 - $899,999 6 228 $900,000 - $999,999 7 131 $1,000,000 - $1,999,999 2 144 $2,000,000 - $2,999,999 1 151

Active Listings Summary

# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 524 148 $359,000 $413,177 $2,495,000 $175,000

Area Market Survey CriteriaActive MULTI-FAMILY Listings in Schaumburg & Hoffman Estates             7/9/2008 Townhomes, Condos, Duplexes, Coach Homes, Manor Homes, etc.

Lyn Sims at RE/MAX Suburban (847)230-7324

List Price Range # Listings Avg. Days on Mkt Less than $149,999 143 151 $150,000 - $199,999 241 126 $200,000 - $249,999 190 132 $250,000 - $299,999 73 113 $300,000 - $349,999 30 127 $350,000 - $399,999 13 156 $400,000 - $449,999 7 163 $450,000 - $499,999 4 141 $500,000 - $549,999 5 199 $550,000 - $599,999 4 194 $600,000 - $699,999 1 197

Active Listings Summary

# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 711 133 $195,000 $209,918 $674,900 $76,999

Like the article said, this is a great time to start looking for a new home, purchase a larger home, or retire to something more manageable!  Interest rates are expected to be lowered once again which makes it even more affordable!

My homesearch website makes it easy to get started finding your new home!  My site offers purchasing advice, selling advice, mortgage calculators, mortgage advice and dictionary, home inspection advice, school district info, METRA info, community and town info too!  No need to jump from site to site - all the homes listed in the MLS for sale are in this site! 

Having someone in your corner with over 20 years experience will ensure every detail of your purchase is handled smoothly!  Looking forward to hearing from you!

Lyn Sims at RE/MAX Suburban (847)230-7324          www.LynSims.net

Northwest Suburban Chicago IL homes for sale in Schaumburg, Hoffman Estates, Elk Grove Village, Bartlett, Roselle, Medinah, Itasca, Carol Stream, Bloomingdale, Palatine, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles.

Lyn's Email:  LynSims@remax.net

 

                       
    © 2007 - 2010 Lyn Sims

       

ELK GROVE'S MOST POPULAR SUBDIVISION!  3BR 2-Story with Full Basement $479,000 

Wonderful Schools, wonderful Park District, wonderful shopping all around!  Close to 355 North or South!

Link to my website for Virtual Tour

Don't know all that Elk Grove has to offer?  Community Profile Here

BUYING A HOME?   SELLING A HOME?   Please give me a call to discuss your plans!  Having someone in your corner with over 20 years experience will ensure every detail of your purchase or sale is handled smoothly!

 Home search Website:   www.LynSims.net

Lyn Sims at RE/MAX Suburban (847)230-7324  OR   Email her at LynSims@remax.net

Northwest Suburban Chicago Areas of Elk Grove Village, Schaumburg, Hoffman Estates, Roselle, Medinah, Itasca, Bloomingdale, Carol Stream, Elgin, South Elgin, Hanover Park, Streamwood, Bartlett, St. Charles.

Copyright 2008 MRED LLC - INFORMATION NOT GUARANTEED, CHECK FLOOD INSURANCE, ROOM SIZES ROUNDED TO THE NEAREST FOOT

 

                       
    © 2007 - 2010 Lyn Sims

       

Today's potential home buyers with lots of homes to choose from can be easily spooked by disclosures and the results of property inspections - even when the shortcomings are typical for homes of a certain age.

In a jittery market such as this one, it's critical to give buyers tools and knowledge so they can decide which problems are serious.

Agents do represent their clients but I always insist that my clients accompany the home inspector so they can put the problems in perspective. Anything a handyman or an electrician could fix in a few hours isn't really worth worrying about!  Buyers should be there to personally go thru the house and get first hand knowledge of any problems or repairs.  This gives buyers there first real chance to 'get accquainted' with their new home.

Here are six common issues that have troubled buyers in the past:

1. Water damage - Evidence of water damage frightens buyers, but all water damage isn't serious. Minor leaks generally cost no more than a few hundred to repair. Get an estimate for waterproofing.

2. Missing permits - Ask the home inspector if the work was done well and meets code requirements, even though a permit wasn't issued.

3. Code violations - How expensive is the repair? Ungrounded electrical outlets are common in old houses and easily fixed.

4. Cracks in the garage floor - Though unsightly ask the inspector whether these cracks suggest other related problems.  Generally these don't affect the structure of a home.

5. Termites or Carpenter Ants - Carpenter ants and termite damage are very common in many parts of the country.  It's important to get rid of them and to get a clear sense of how bad the damage is.  Often a good long range pest inspection service is enough to clear the problem and prevent future damage.

6. Foundation cracks and other foundation issues - Older homes often have cracks in the foundation. Get an expert to inspect the problem and estimate - what if anything - needs to be done.

At my website I offer my potential buyers tools and information to find out and estimate what it would take to fix the problem.  You can either do the work yourself or hire a contractor but either way it helps from letting your imagination run wild!

Cost to Repair Guide

Home Component Life Expectancy

NHB Life Expectancy of Home Components

These are just a few ways that a veteran real estate agent, like myself Lyn Sims, can help you in your journey towards buying your new home. More information for first time buyers and veterans alike can be found on my website or by calling me directly. I'm confident that I can provide the kind of exceptional service that will make this process an exciting one. Please don't hesitate to call or e-mail me with any questions you may have.

Lyn Sims RE/MAX Suburban (847) 230-7324   OR  Email her:   LynSims@remax.net

Having someone in your corner with over 20 years experience will ensure every detail of your purchase is handled smoothly!  Looking forward to hearing from you!

Northwest Suburbs of Chicago - Schaumburg, Hoffman Estates, Palatine, Elk Grove Village, Itasca, Medinah, Roselle, Bloomingdale, Carol Stream, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles.

 

                       
    © 2007 - 2010 Lyn Sims