Posted on Jul 26th, 2008
The Clarendon Hills Village Board approved plans in July for a Hinsdale-based developer to buy a former police station and turn it into a two-story retail and office building, with a restaurant as a possible tenant as well.
The Chicago Tribune reported the sale price for the building at 201 Burlington Ave. as $750,000. The developer is Waypoint Properties LLC.
The Clarendon Hills Police Department moved to a new station at 448 Park Ave in 2005.
Posted on Jul 26th, 2008
The latest forecast from the National Association of Realtors is predicting a recovery in sales of existing-home sales during the second half of the year.
NAR President Richard F. Gaylord said the current market offers immediate benefits and long-term value for many buyers. “Home buyers are getting a great deal right now,” he said. “Although inflationary expectations appear to be under control for the time being, sharper consumer price gains could lead to notably higher mortgage interest rates in 2009.”
Based on current indicators, the 30-year fixed-rate mortgage is forecast to rise gradually to 6.5 percent by the end of this year, and then hold at that level for most of next year.
Posted on Jul 26th, 2008
Home sales in Illinois were up in June over May, according to the latest report from the Illinois Association REALTORS. Low consumer confidence and a troubled economy, however, continue to strain the overall housing market, the report found. Total home sales (including single-family homes and condominiums) were up 3.6 percent in June to 11,643 sales compared to May’s 11,243 sales. Year-over-year sales were down 27 percent from June 2007’s 15,945 sales. Illinois’ June median price was $200,000, down 6.1 percent from $213,000 in June 2007.
“There continues to be large local market variations statewide,” said Kay Wirth, president of the Illinois Association of REALTORS. “Economic factors have weighed heavily on home sales activity in Illinois this summer. Low consumer confidence, higher gas and good prices, plus turmoil in the financial markets and a tighter credit market have kept some would-be buyers on the sidelines despite the fact there are great deals to be had,”
The REALTORS’ group also reported that the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 6.38 percent in June 2008, up 0.34 points from the 6.04 average rate the previous month. Those stats are according to the Federal Home Loan Mortgage Corp. Last June the rate averaged 6.69 percent.
Posted on Jul 26th, 2008
Clarendon Hills’ average listing prices for the week ending July 16, according to stats compiled by Trulia:
1 bedroom: n/a
2 bedrooms: $294,060
3 bedrooms: $443, 912
4 bedrooms: $894,460
The average listing price for all homes was: $718, 816
The average sales price for all homes from April to June was $549,229 and 24 homes were sold during that period, according to Trulia.
Posted on Jul 19th, 2008
Clarendon Hills average listing prices for the week ending July 9, according to stats compiled by Trulia:
1 bedroom: n/a
2 bedrooms: $292,970
3 bedrooms: $442, 969
4 bedrooms: $922,699
The average sales price for all homes from April to June was $549,229 and 24 homes were sold during that period, according to Trulia.
Posted on Jul 19th, 2008
Ever wonder about the “typical” Illinois home buyer or seller?
The 2007 Illinois Profile of Home Buyers and Sellers, conducted by the National Association of REALTORS and funded by the Illinois Association of REALTORS, offers some interesting insights.
Highlights - Characteristics of Home Buyers
* The median age of home buyers was 40 years old. Among first-time buyers, the median age was 31.
* The median household income of home buyers was $78,900 compared to $73,960 in the U.S.
* 60 percent of home buyers reported that there were no children under age 18 residing in the home.
* 58 percent of home buyers were married couples, 21 percent single females, 10 percent single males, and 8 percent were unmarried couples.
* First-time home buyers accounted for 37 percent of homes purchased in 2007.
* 49 percent of first-time home buyers were between 25 and 34 years old.
* The median income of first-time home buyers was $63,100 compared to $58,573 among all first-time buyers nationally.
* 29 percent of homebuyers reported using a social networking Web site such as MySpace, Facebook, LinkedIn and Friendster.
Highlights - Characteristics of Homes Purchased
* 62 percent of homes purchased were detached single-family homes.
* The typical home buyer purchased a home 9 miles from their previous residence.
* The median price of homes purchased was $228,557 (in the survey period) compared to $215,000 in the U.S.
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Highlights - The Home Search Process
* Recent home buyers searched for a home for a median 8 weeks and saw a median 11 homes.
* 86 percent of home buyers used a real estate professional during their home search.
* 67 percent of home buyers used the Internet frequently to search for homes.
* Among home buyers, the typical Internet searcher was 37 years old and visited a median 15 homes. The typical home buyer that did not use the Internet to search for homes was 48 years old and saw a median of 6 homes.
* 41 percent of home buyers first learned about the home they purchased from a real estate professional; 32 percent first learned about the home they purchased through the Internet.
* 82 percent of buyers viewed the Internet as a very useful tool in their home search.
Highlights - Home Sellers and their Selling Experience
* The median age of home sellers was 41 years old; they had a median household income of $92,700
* 73 percent of home sellers were married and 51 percent had no children under 18 years old living at home.
* The typical home seller owned their home for 6 years.
* The typical home was on the market for 8 weeks; 42 percent of home sellers did not reduce their asking price before their home sold.
* 84 percent of sellers used an agent or broker to sell their home.
* 57 percent of all sellers were very satisfied with the selling process.
Posted on Jul 19th, 2008
The Illinois housing market improved in May, with sales up 17.3 percent over April, according to the Illinois Association of Realtors’ latest report.
Hewings forecast a sales decline in July but says a steady sales pace is expected in August.
Posted on Jul 17th, 2008
Clarendon Hills is once again hosting its Dancin’ in the Street concert series. The 9th annual event, which draws music fans from throughout DuPage County to downtown Clarendon Hills, will run Wednesday nights through Aug. 6.
On the bill for July 23 is Gizzea, a reggae group, followed July 30 by Elevation, which bills itself as “The greatest U2 tribute band on the planet.” Souled Out Funk, which plays funk and dance music, will perform on Aug. 6. Food is available at 6:30 p.m.; music starts at 7 p.m. and lasts until 9:30 p.m. Bring your blanket and chair. No glass containers are allowed. For more information, call (630) 286-5400 or visit www.clarendonhills.us.
