Downers Grove Home Sales increase 76 percent!

DOWNERS GROVE, Ill. - Sales of single-family detached homes went up 76 percent in November compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), indicating the sixth consecutive monthly increase. MORe measured activity on homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC. "We saw tremendous sales growth in several communities last month as well as an increase in the number of homes under contract in communities such as Aurora and Hazel Crest," said Mike Drews, President of MORe, and the Designated REALTOR® of Charles Doss, REALTORS®, in the Aurora and Oswego areas. "I attribute much of this growth to first-time homebuyers attempting to close prior to the First-Time Homebuyer Tax Credit's original November 30 deadline, which now has been extended." 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 (217 percent increase from a year ago); Oak Lawn (129 percent); Posen (100 percent); and Tinley Park (178 percent). In the DuPage County area, home sale activity was highest in Addison (950 percent increase from a year ago); Aurora (112 percent); Glendale Heights (567 percent); Hinsdale (82 percent); Naperville (75 percent); and St. Charles (165 percent). Home sale activity also was up in the western Cook communities of Clarendon Hills (117 percent increase from a year ago); Hickory Hills (100 percent); LaGrange (100 percent); River Grove (75 percent); and Westchester (100 percent). There were dramatic increases in the numbers of homes under contract in November 2009 compared with a year earlier - a 63 percent improvement for detached homes. The strongest increases were seen in Batavia (400 percent increase from a year ago); Brookfield (1,400 percent); Hazel Crest (320 percent); LaGrange (167 percent); Matteson (80 percent); Oak Lawn (121 percent); South Holland (139 percent); and Wheaton (164 percent).
December 2009 Stats Release
for November

When will Downers Grove home prices go up?

Many buyers and sellers are asking me when home prices will return to the record prices seen during 2005-2006. Moodys and Fiserv have actually studied this point. The answer is different for every state. Some states will rebound as early as 2014, but for Illinois residents the wait will be longer. The estimate is that our pricing will return to 2005-2006 levels somewhere from 2018-2022. If you are thinking of selling, do it now! Prices could be lower when more foreclosures hit the marketplace. If you are thinking of buying, just remember, you are getting record low prices now and great interest rates. Buy now before rates start to go up next spring!

Downers Grove-Best Place to Retire!

Downers Grove has been rated #5 by CNNMoney.com in their list of the 20 Best Places to Retire. The article mentions the 49 award winning parks in Downers Grove, the award winning Good Samaritan hospital as well as an abundance of good restaurants and the close proximity to Chicago for cultural events. Our secret is out!

Sears Home Tour in Downers Grove

The Downers Grove History Museum is offering two Trolley Tours one Historic Downers Grove Tour and one featuring the historic Sears homes in Downers Grove on September 12, 2009. Tours begin and end at the museum. Enjoy the museum's exibits and light refreshments after the tour. Additional parking is available at Lincoln Center, 935 Maple Ave. Trolley Space is limited. Call the Museum for more information (630) 963-1309.

More Money for First Time Homebuyers!

The Illinois Housing Development Authority (IHDA) has a propgram available for First Time Homebuyers called Mortgage Credit Certificates or MCCs. Some of this money is earmarked specifically for people buying homes in Downers Grove. This tax credit certificate will lower the amount of Federal Income tax due each year for the homeowners for up to 30 years. This is in addition to the $8000.00 First Time Buyer Tax Credit. You must use a participating lender and there are income and maximum purchase price limits. The cost for this program is $500.00.
Contact me for more information mary@marybraatz.com

Downers Grove Recycles Electronics

Downers Grove will host the second annual Recycling Extravaganza this Fall on Saturday September 26, 2009. Bring in old TVs, Monitors, computers, cell phones, batteries and much more. Hours are 8 AM to 2 PM at the Belmont Train Station in parking lot H, south of the tracks. For a list of items that can be saved from landfills, as a result of this event visit: www.Downers.us

Downers Grove Home Sales Up!

Home Sales Show Year-to-Year Increase in West, South SuburbsDOWNERS GROVE, IL - Sales of single-family detached homes went up 1 percent in June compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), the first such increase since December 2006. MORe measured activity on single-family detached homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC. In addition, the number of homes under contract (but not yet closed) in the same West and South Suburban Chicago area was 40 percent higher than a year ago, the seventh consecutive month of year-to-year growth in pending sales. "Many first-time home buyers are taking advantage of the $8,000 federal tax credit. This is helping to reduce the inventory of homes on the market," said Mike Drews, president-elect of MORe, and a REALTOR® with Charles Doss, REALTORS®, in the Aurora and Oswego areas. "First-time buyers can receive the tax credit if their home purchase closes by December 1st, so to take advantage of that credit, they really need to have a home under contract by October 1st." There were notable home sales gains in many suburban communities, particularly in Addison (89 percent increase from a year ago); Bellwood (150 percent); Bloomingdale (350 percent); Calumet Park (200 percent); Flossmoor (100 percent); Geneva (59 percent); Markham (138 percent); Matteson (122 percent); Maywood (156 percent); Oak Lawn (58 percent); Richton Park (167 percent); West Chicago (59 percent); and Winfield (150 percent). The average 40 percent increase in contracts across the 120-community area was fueled by dramatic advances in some towns, where the numbers of homes under contract leaped by double- and triple-digit percentages. Standouts in the south suburbs for number of contracts were Burbank (146 percent increase from a year ago); Harvey (150 percent); Lynwood (1,000 percent); Markham (133 percent); Matteson (107 percent); and Oak Lawn (93 percent). In the DuPage County area, contract activity was highest in Addison (118 percent increase from a year ago); Bensenville (700 percent); Hinsdale (59 percent); Villa Park (100 percent); Warrenville (160 percent); and West Chicago (69 percent). Outstanding numbers for contracts were posted in the western Cook communities of Bellwood (250 percent increase from a year ago); Elmwood Park (333 percent); Franklin Park (217 percent); La Grange (75 percent); Melrose Park (200 percent); and Westchester (243 percent).

FHA Condo Financing Rule Change

New HUD condo guidelines lift outright ban on right of first refusal – On June 12, 2009, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2009-19, which outlines changes aimed at streamlining the approval process for FHA financing for condominium projects. In this Mortgagee Letter, HUD announces a new policy and procedure whereby qualifying lenders will be able to determine condominium project eligibility. But there are other important changes in the letter that will apply to both lender-approved and HUD-approved condominium projects, including a provision stating, “Right of first refusal is permitted unless it violates discriminatory conduct under the Fair Housing Act regulation in 24 CFR 100”, essentially lifting HUD’s long-standing policy of denying all condominium projects with a right of first refusal provision.

Downers Grove Heritage Fest is Comming!

HERITAGE FESTIVAL: JUNE 26, 27 & 28, 2009
"You Can Still Rock in America" in Downers Grove! Night Ranger will be perfoming on Friday, June 26 at the Beer Garden Stage. A $5 cover will be collected at the gate with proceeds to benefit the 1846 Blodgett House On the Move organization. Rich and I will be there!!!

Downtown Downers Grove Car Show

Check out the Downtown Downers Grove Classic Car Show every Friday Night from 6-9 PM (except 6/26/09) Now through September 4th! Every week has a different theme and there is live music with a different band every week! This is also a great time to check out some of the fabulous shops and restaurants in the neighborhood!

Good Samaritan Hospital among nation's finest...

Advocate Good Samaritan Hospital has been selected as one of the nation’s best hospitals by the 2008 Thompson Reuters 100 Top Hospitals: National Benchmarks study, one of the nation’s leading health care reports. The 2008 study recognized a total of seven hospitals in Illinois, including Advocate Lutheran General Hospital, Park Ridge. Another great reason to live in DG!

Civil War Comes to Downers Grove!

Civil War

Encamp-

ment
Returns!
Back by popular demand! The 10th Regiment,
Illinois Volunteer Infantry will return to
Wandschneider Park on Saturday, May 30th from
10:00 am - 4:00 pm. Watch demonstrations of the
daily hardships of the typical Civil War soldier.
Learn about uniforms, equipment and weapons.
See how they slept, ate and passed the time. All
ages are welcome and admission is free. You just might see private Rich Braatz.

Downers Grove Park District wins an award.

Congratulations to the Downers Grove Park District for being named a finalist for the 2009 Gold Medal Award. Sponsored by the National Recreation and Parks Association (NRPA), the Gold Medal Award is the most prestigious award in the industry. The Downers Grove Park District won once before in 1983. The winner of the 2009 award will be announced in October.

Downtown Downers Grove Market

Just back from the Downtown Downers Grove Market-Now Open on Saturdays 7:00 AM-12:30 PM May 9th through October 17, 2009.

Wow fresh veggies, organic cheese, cage free eggs, fresh flowers, home made baked goods, prepared foods and more! I'm going to be a regular!

Buying a Foreclosure

Illinois is about 10th in the nation in foreclosed properties, so hey, why not buy one and get a great deal on a new home or investment property?



Just remember these points when looking at bank owned properties, also called REOs.



Sales are "As Is."

Properties will need repairs and may be missing plumbing, appliances or even a furnace. Even the nicest looking homes will have problems, because they are vacant and have been abandoned.

It's smart to pay for a home inspection.

Forget what they say on HGTV, do not expect to flip the property for a great profit.

Do not expect bargain basement prices. The banks know what these properties are worth and many receive multiple offers.

Financing may be difficult if the property is in extremely poor condition.