Dover Corporation to Relocate to Downers Grove

Dover Corporation is moving it's headquarters to Downers Grove where it will employ more than 100 people! See article: http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=36128

Downers Grove Home Sales up 74% in October 2009!

Home Sales Increase More Than 31 Percent in West, South Suburbs
October Marks Fifth Straight Month of Year-to-Year Improvements

DOWNERS GROVE, Ill. - Sales of single-family detached homes went up 31.8 percent in October compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), indicating the fifth consecutive monthly increase. MORe measured activity on homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC. "The significant growth in the market demonstrates that pent-up demand is disappearing thanks in part to the incentives available to first-time homebuyers," said Mike Drews, President of MORe, and the Designated REALTOR® of Charles Doss, REALTORS®, in the Aurora and Oswego areas. "I believe move-up buyers also will continue to spur growth in the market and we'll begin to see more movement related to condos and townhouses as a result of the federal government's extension and expansion of the First-Time Homebuyer Tax Credit." There were notable home sales gains across the 120-community area, where the numbers of homes sold leaped by double- and triple-digit percentages. Standouts in the south suburbs for number of homes sold were Burbank (140 percent increase from a year ago); Country Club Hills (240 percent); Orland Park (37 percent); and Tinley Park (150 percent). In the DuPage County area, home sale activity was highest in Addison (80 percent increase from a year ago); Batavia (100 percent); Bensenville (400 percent); Geneva (27 percent); Hinsdale (122 percent); and Villa Park (80 percent). Home sale activity also was up in the western Cook communities of Bellwood (120 percent increase from a year ago); Elmwood Park (125 percent); Franklin Park (180 percent); Maywood (186 percent); Melrose Park (200 percent); and Westchester (73 percent). There were dramatic increases in the numbers of homes under contract in October 2009 compared with a year earlier - a 70 percent improvement for detached homes and an 81 percent increase for attached dwellings. The strongest increases were seen in detached homes in Addison (225 percent increase from a year ago); Aurora (118 percent); Bensenville (229 percent); Downers Grove (74 percent); Glen Ellyn (244 percent); Naperville (48 percent); Oak Lawn (92 percent); and West Chicago (127 percent).
November 2009Stats Release for Oct.

Home Buyer Tax Credit Extended!

Congress and President Obama have finalized the extension and expansion of the First-Time Homebuyer Tax Credit through April 30, 2010.
Here are some details:
1) How the Extended Homebuyer Tax Credit helps first-time homebuyers:· First-time homebuyers can get a tax credit of up to $8,000 when they buy a principal residence. · Buyers are eligible if they have not owned a home in the previous three years. · Buyers have to sign purchase agreements before May 1 and close before July 1.· The price of the home and the buyer's income will affect how much the tax credit would be, if there is one at all. For example, this credit can only be claimed on primary residences purchased for less than $800,000.
2) How the Extended Homebuyer Tax Credit helps current homeowners:· Homeowners are eligible for a $6,500 tax credit if they purchase a new or existing home through April 30 AND they have lived in the home being sold as a principal residence for five consecutive years of the past eight years. · If potential home buyers have a binding contract on or before April 30, they will have until July 1 to close the transaction in order for the tax credit to count. · The price of the home and the buyer's income will affect how much the tax credit would be, if there is one at all. For example, this credit can only be claimed on primary residences purchased for less than $800,000. · Buyers don't have to pay back the credit as long as they use the new property as their primary residence for three or more years after the purchase. For more information, MORe >