Margaret Ludemann

How fast are Glen homes selling? REALLY FAST!

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Don’t blink your eyes or you’ll miss the sale of a home in The Glen.  Really!

The days on market for homes in The Glen have gone from a snail’s pace a couple of years ago to “not bad” last year to warp speed in 2013.  About a month ago I put a Tower Crossing townhome (Blackstone model with 3840 sq ft) on the market at $789,000, and it sold the same day.

A couple of weeks ago I put a single family home on the market in Glenview.  The next day I had 50 people tour the home with appointments, and a day later over 70 people attended my open house.  A contract was signed within 4 days.

A couple of days ago I put another Tower Crossing townhome on the market at 11am.  I received my first call  36 minutes later.  I showed the home over the lunch hour, and a purchase contract was in by 3pm.  It took 4 hours to sell a property listed at $699.000.

The same dynamic is occurring throughout the several neighborhoods in The Glen and in greater Glenview.  So, what’s going on?  Well, the real estate market has turned.  Buyers used to have all of the leverage.  So they made low ball offers, many of which were accepted by desperate sellers.  But now…well, there are only 2 homes for sale in the uber-upscale Southgate neighborhood of 299 homes.  Not a typo.  TWO!  In Tower Crossing’s 154 home development only 5 homes are for sale.  Limited inventory and high demand can be seen in other Glen communities such as Chapel Crossing, Landings, and Cambridge.

So anyone interested in buying into The Glen needs to move fast.  But…it’s worth it to live in this magnificent community.

Margaret Ludemann (847-401-1802)

Resident of The Glen, @properties Realtor

Prairie Golf & Paddle Club Almost Ready

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The Glenview National 9 Golf Course in The Glen (of Glenview, Illinois) has added a new 2600 sq ft clubhouse over the winter months.  I got a sneak preview this weekend, and I really mean “sneak”.  I was taking photos of the exterior of the new facility – which has NOT yet opened – when an employee came out an asked me what I was doing.  I explained that I am a local Realtor who blogs about The Glen regularly.  When he walked back inside…I followed him, much to his surprise.

The new clubhouse is beautiful and functional.  When opened (best guess, early May) it will have a pro shop, bar & grill area, fireplace, and event space.  An outdoor patio is also under construction.

The bigger news is the addition of four paddle tennis courts just outside of the clubhouse.  Paddle tennis is a cross between tennis and racquetball played in enclosed 60′ X 30′ courts.  These courts (and the clubhouse) are directly across the street (Lake Ave) from the north commons area of the Tower Crossing townhome development, which means it is also across the street from The Glen Club Championship Golf Course designed by Tom Fazio.  They are about one block from the western edge of the Cambridge development which has single family homes, townhomes, villas and duplexes.   In fact the course, clubhouse and paddle tennis courts are within a short walk of many Glen homes and within a few minutes drive from any home in The Glen.

Because of the addition of paddle tennis, the old name (Glenview National 9) is being replaced by a new name, Glenview Prairie Golf & Paddle Club.  From my brief, very unofficial tour of the new clubhouse I would say it’s about 95% done.  A few small things are still to be done inside, and I see that landscaping is missing a few items yet to plant.  If you would like more information about living in The Glen, please contact me at 847-401-1802.

Margaret Ludemann, resident of The Glen and Coldwell Banker Realtor

 

Market Update: Townhomes in The Glen

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It has been a busy spring for attached homes (townhomes, row houses, villas) in The Glen, the premier residential, retail, and dining venue in Glenview, Illinois.

The newest housing development in The Glen is called Regency.  Pulte Homes is currently building 109 townhomes and 40 villas ranging is size from 1523 sq ft to 2493 sq ft.  The development is not yet sold out, but homes are moving rather quickly.  Buyers are attracted to The Glen, and also by the prospect of purchasing new construction at competitive prices in an area known for excellent schools.

The row homes and villas in Southgate were built approximately 9 years ago; the development offers 38 row homes and 24 villas ranging in size from 1585 sq f to 2055 sq ft.  There are no homes on the market currently.  (Homes do show on the MLS and in this website, but they are under contract.  They are removed from the MLS and website when the purchases close.)  3 have sold so far in 2013 and 6 were sold in 2012.  These homes are so popular that they sell rapidly.

There are 3 Tower Crossing townhomes currently for sale.  This development includes 154 homes in 6 models which range in size from 3031 sq ft to 4105 sq ft.  2 of the homes currently for sale are Drake models (3075 sq ft) with elevators!  They have direct views of Lake Glenview and Gallery Park.  The other home for sale is an Astoria model with 3210 sq ft.  There are 2 Tower Crossing homes for rent currently.  7 homes in this development have sold or are under contract so far in 2013, and 3 have rented.  11 sold and 12 rented in 2012.

If you are interested in a luxury townhome or villa on the North Shore, please contact me at 847-401-1802.

Margaret Ludemann

 

Glen market: lower inventory, but more sales

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My, how the real estate market has changed.  Yes, here in the Glen and throughout the country.

A couple of years ago, most real estate markets had a glut of homes for sale but few buyers.  Today, home inventory is very low, but the buyers are back.  The result is this:  New listings, if priced competitively, will sell…often very quickly.

So, why has this occurred?  First, many homeowners have decided to wait out the market until prices increase substantially.  Second, buyers who have been on the sidelines have decided it’s time to buy.  They are attracted by the extremely low interest rates and the prospect of home prices going up over the next few years.  In other words, they know they can buy more home now than they can in a few years.

Here is one example.  Tower Crossing has 154 beautiful town homes.  Two and three years ago it was not uncommon to see 15 or more of these homes for sale at one time.  But the buyers didn’t come or those who did come wanted very big discounts.  Only seven homes sold in 2009 and six sold in 2010.  It was a buyers market.  Today, there are only three Tower Crossing homes for sale.  It’s been like that since early 2012.  But eleven homes sold in 2012!  We are now seeing multiple offers for Tower Crossing homes, and the time on market has been roughly half what it was a few years ago.  The same is true in other Glen neighborhoods such as Southgate, Chapel Crossing, Landings, and Cambridge.

The bottom line for buyers is this:  There are still good deals on Glen homes, but there are fewer to choose from.  And if you are interested in buying, you should be prepared to act quickly when you find what you want.  I am an original homeowner in the Glen, so I know it well.  If you are interested in a Glen home, please call me at 847-401-1802 or send an email to Margaret.Ludemann@gmail.com.

 

 

Living near The Glen Club, Glenview Illinois

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Spring is just around the corner, and it’s time to be thinking about golf!  One of the great benefits of living in The Glen is proximity to The Glen Club’s 18 home championship golf course designed by Tom Fazio.  The course is open to the public, and it also offers memberships.

The Glen Club opened in 2001 to rave reviews.  It is the only golf course in the country that was named in all three of the Top 10 New Course lists (Golf Digest, Golf Magazine and Sports Illustrated). More accolades followed including the Zaget Survey which put the club on its list of America’s Top 50 Golf Courses (2003 – 05); and Great Lakes Golf Magazine named it the best golf course in Illinois.  The club has been host to numerous Nationwide Tour tournaments; and it is the permanent home of the Illinois Golf Hall of Fame.

The Glen Club is located in The Glen within walking distance of nearly every home.  55 homes in the Southgate On the Glen development and 8 Tower Crossing townhomes border the course, and several other homes in these developments have course views.  In addition to these neighborhoods, homeowners in Regency in The Glen and Cambridge at The Glen are particularly close to the clubhouse.

The Glen is unique and wonderful in so many ways.  Homeowners’ proximity to one of the country’s premier golf courses is one of them.  The Glen Club is located at 2901 West Lake Avenue in Glenview, Illinois.  You may reach the club by phone at 847-724-7272.  If you will be visiting from out of town, the club offers elegant hotel rooms in the clubhouse.

Margaret Ludemann,   Resident of The Glen, @properties Realtor

Phone:  847-401-1802,   Email: margaretludemann@gmail.com