Chicago

Home inspections & appraisals, what sellers should know

by

As a top Realtor living in The Glen, I sell a lot of homes here.  The Glen is an upscale community with single family and attached homes in Glenview Illinois on Chicago‘s North Shore.  Whenever I get a new listing I visit with my clients about two pieces of the sales process that they often know little about.  Here is what I tell them.

Inspection:  Buyers hire a home inspector to look for physical problems with your home.  Unless it’s brand new, it’s likely he will find problems.  Most problems will minor, but some may be more problematic.  The buyers may decide to ask you to fix the problem at your expense.  Often negotiations will follow.  You can agree to make the repairs or not; or perhaps you will offer to reduce the purchase price to satisfy the buyers.  This is normal.  It’s part of the process.  You should not be offended.  If you do not agree to make the repairs or find some other accommodation, the buyers can decide whether to move forward or to back out of the deal.

Appraisal:  In most cases there will be a formal appraisal of the market value of your home.  This will always occur if the buyers are obtaining financing.  Even if they are not getting a mortgage they may want an appraisal to ensure that your home is worth what they are offering to pay.  Appraisals are not done by realtors; they are done by professionals who are licensed and impartial.  They will look at comparable sales near your home (known as “comps”), and they will consider other factors such as your home’s condition and whether there is an appreciating market or a depreciating market. If the appraisal is lower than the agreed upon purchase price, the lender will either refuse to make the loan or require the buyers to come up with a larger down payment.  It’s then up to the buyers to piece together their financing; or if there was a mortgage contingency in their offer, they can back out.  This may open up the contract for renegotiation.

As a seller it is important to understand the steps between the offer and the closing.  The inspection and appraisal are critical, and they require buyers and sellers to be flexible and cooperative.

Margaret Ludemann, Glen homeowner and @properties Realtor

Margaret.Ludemann@gmail.com    847-401-1802

Curragh Irish Pub, MOOYAH & Pinot’s Palette join The Glen

by

I’ve often described owning a home in The Glen as having the best of both worlds.  It’s urban living…in the suburbs.  The suburban part of this description means great schools, safe neighborhoods, no congestion, golf courses, and plenty of room to walk, jog or run.  As for urban living we have Glen Town Center with its many restaurants, boutiques, theater, book store, museum, and coffee shop…all within an enjoyable 3 block stroll along Tower Drive.

Two new restaurants opened recently.  The Curragh Irish Pub is a traditional Irish eatery with a big menu.  You’ll find 11 starters, 9 soups & salads, 10 traditional Irish dishes, 5 additional entrees, 9 sandwiches + burgers, 6 tempting desserts, several sides, a children’s menu, an extensive wine list, and a full bar.  My family recommends the Guinness fish & chips, shepherds pie, and the Curragh reuben.  The ambiance is classy yet comfortable and fun.

If you are a burger connoisseur, you’re in luck.  A restaurant called MOOYAH opened a few weeks ago offering great burgers (including those of turkey and veggie varieties), and hot dogs with your choice of buns and different cheeses.  Several toppings and sauces are available, including something called “MOOYAH sauce” which is as tasty as it is mysterious.  The fries are fresh cut every day and made on site.  My husband loves the traditional burger, I enjoyed the turkey burger, and our son found the “real ice cream shakes” to his liking (no surprise there).

My third “find” in Glen Town Center is really fun.  It’s called Pinot’s Palette whose motto is “Paint.  Drink.  Have fun.”  It’s a place to learn to paint while having a glass of wine with friends.  Upcoming event themes include “girls night out”, “VIP night” and “date night”.  Staff members help you along the way, and as they say, a good time is had by all.

The Glen is an upscale residential and retail community on Chicago’s North Shore in the village of Glenview.  The residential real estate market offers luxury homes of all types…single family homes, townhouses, row homes, duplexes, two-flats, and apartment condos.  If you may be interested in living in The Glen, please contact me at 847-401-1802 or margaretludemann@gmail.com

Margaret Ludemann, Glen resident and @properties Reator

More news on new construction in The Glen

by

Since my last Glen blog a week ago, there have been developments relative to new construction housing.  As my regular readers know, The Glen is an upscale residential and retail development in Glenview, Illinois on Chicago’s North Shore.  There are numerous neighborhoods with luxury single family homes, townhomes, row homes, two-flats, duplexes, villas, and apartment condos.  The development is anchored by Glen Town Center which is home to scores of restaurants and shops.

Last week I reported on two new construction opportunities in The Glen.  The first is Regency, a Pulte homes development of townhomes and duplex villas.  At that time there were 5 homes still available in the neighborhood of 149 homes.  In the last week three of these sold, leaving only the two model homes for sale.  These homes are beautifully decorated, so they are perfect for buyers looking for new construction in move in condition.

I also told you about Westgate, a new development which will offer 173 townhomes, row homes and single family homes.  Over the weekend I visited the site, and I see that “coming soon” signs have appeared on the property.  The sales center is under construction, and I noted some early signs of infrastructure occurring on the property.  As soon as I receive a definitive date when homes will be offered for sale, I will be very active working with the buyers who have contacted me with interest in this neighborhood.

Both Regency and Westgate are particularly close to the Glen’s two golf courses, The Glen Club’s 18 hole championship course and Glenview Prairie Club, a beautifully maintained 9 hole course.

There is one other new construction opportunity in the future, and I failed to mention it in my last blog.  Patriot Commons is a stunning development on the south edge of Glen Town Center bordering The Glen Club course.  68 townhomes and condo apartments were completed a few years ago.  The developer, Toll Brothers, put further development on hold due to the difficult real estate environment that existed at that time.  I am told that Toll Brothers will complete the development sometime in the next year or two.

If you are interested in living in the Glen, please contact me at 847-401-1802 or margaret.ludemann@gmail.com.

Margaret Ludemann, Glen resident and @properties Realtor

New construction homes in The Glen

by

There are two neighborhoods in The Glen available to buyers seeking new construction.  One is available now, and the other will be available soon.

First, a little background:  The Glen is an upscale residential and retail development on Chicago’s North Shore in the community of Glenview, Illinois.  There are several distinct neighborhoods with two things in common:  They have stunning, luxury homes; and homeowners enjoy the “urban living in the suburbs” lifestyle that the Glen is known for.  The various neighborhoods are anchored by our retail hub, Glen Town Center.  OK, now I’ll tell you about the new construction real estate opportunities in The Glen.

Regency:  While nearly sold out, the new Pulte development called Regency still has 5 beautiful townhomes available for purchase.  The development, when completed, will have 149 homes.  Among the available 5 homes are the two models, fully decorated.  These are likely to sell soon, so if you’re interested I suggest you move quickly.

Westgate has cleared the final administrative hurdles, and it should get under way soon.  I walked over to the site this morning, and I see that the sales center is being developed.  This E. R. James Partners development will have 173 homes including 71 row homes, 68 Mews townhomes, and 34 single family homes.  The row homes and single family homes will have first floor master bedrooms making them particularly attractive to downsizing empty-nesters.  This development will be extremely popular.  Not only will this be the last new Glen development featuring single family homes, but E. R. James is known as a high quality builder.

If you are interested in Regency you should contact me now so that I can get you into the models and explain your options.  If Westgate strikes your fancy please let me know so that I can contact you at the appropriate time.  I can be reached at 847-401-1802 or margaretludemann@gmail.com.  Meanwhile you can learn more about these developments at www.homesintheglen.com.

Margaret Ludemann, Glen homeowner and @properties Realtor

Westage at the Glen…one step closer to reality

by

The Glenview Planning Commission just approved a new housing project to be constructed in The Glen and called Westgate at The Glen Townes.  It will go before Glenview’s board in February for final approval which is expected.

The Glen is the North Shore’s premier lifestyle community located in Glenview, Illinois approximately 20 miles north of downtown Chicago.  It offers luxury homes (single family homes, row homes, townhomes, condos, duplexes, and two-flats) as well as a park, lake, walking trails, health club, movie theater, two golf courses, and a quaint main street called Glen Town Center filled with shops and restaurants.  Westgate will be the most recent – and perhaps the last – new construction community in the Glen.

173 homes are planned for this E.R. James Partners project.  As I’ve written in previous blogs, 34 will be single family homes and 139 will be row homes and townhomes.  I’ve recently learned more about the homes to be offered, particularly the sizes.  The single family home models, all with first floor master bedrooms, will range between 1,885 sq ft and 2,464 sq ft; and the architectural designs will be offered in New England shingle, French Country, and Old English.  The attached housing models will range between 2,037 sq ft and 2,980 (a mix of first and second level master bedrooms),and their architectural styles will be offered in New England shingle, Classic Revival, Old English, Craftsman, and Federal.  All homes will have three bedrooms and two-car attached garages.

Prices have not been announced.  There is some speculation (only speculation at this point) that the builder will attempt to price the homes roughly in between those in the Regency and Tower Crossing developments in The Glen.  Timeframes for construction and sales have not been announced.  E. R. James Partners has a sterling reputation for quality, as evidenced by its very upscale Glen development called Southgate on The Glen.  I believe the Westgate development will be very popular.

Margaret Ludemann, resident of The Glen and Tower Crossing Realtor  margaret.ludemann@gmail.com, (847) 401-1802