homes

The Glen’s Art Fair…fun again in 2016

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The Glen is home to an annual art fair called, as you can imagine, The Glen Art Fair. Fortunately, the artists who display their work here are a good bit more creative that whoever named the event. Anyway, it was held this past weekend, August 6 and 7, and as always it was a very big success. This fun event attracted scores of artists from throughout the United States to Tower Drive, Glen Town Center’s “main street”.  Attendance was high, and as they say, a good time was had by all.

The Glen is the north shore’s premier lifestyle community, meaning it has beautiful homes, an outstanding array of restaurants, upscale shopping, jogging trails, golf courses, tennis courts, and a picturesque lake.  It is located on the site of the former Glenview Naval Air Station in Glenview, Illinois, approximately 18 miles north of downtown Chicago.

Visitors to the fair were treated to art of many genres including paintings, photography, sculpture, glass works, folk art, crafts, cartooning, digital art, and even what is known as “wearable art”. In fact, as I’m typing this blog, I’m wearing a striking blouse that I purchased at last year’s fair. I live in the Glen’s Tower Crossing development only a block away from the fair!

This will all occur again next August. You might want to jot it down in your calendar. I’m sure you’ll enjoy it as much as those of us who are fortunate homeowners and residents of The Glen. And if you may be interested in living in the Glen, please give me a call. I am a local realtor who specializes in Glen properties – single family homes, row homes, town homes, two flats, duplexes and condos.

Margaret Ludemann

@properties Realtor   847-401-1802   margaretludemann@gmail.com

Why a home sale falls through

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Home sales are complicated. There’s a lot more to it than putting a buyer and seller together. Things can go wrong. Deals do not always close. And here are the top reasons why some home purchases fall through:

Inspection surprises. Each transaction involves an inspection by a licensed home inspector. Some are very good. Some, not so much. Among the “not so much” group you’ll find inspectors who identify numerous very small issues which, while not material, scare the heck out of the buyers, causing them to back out of the purchase.

Buyer financing. Even if the buyer is “pre-approved” by a lender, it does not guarantee financing. Sometimes when the lender looks more deeply into the buyer’s financial condition, they find issues that cause them to reject the mortgage application.

Low appraisal. During periods when homes are appreciating in value, appraisals are typically not a problem. In soft markets, though, it is not uncommon for a home appraisal to come in lower than the agreed-upon purchase price. In this case, lenders either choose to not make the loan or demand a higher down payment. The buyer can back out or seek a lower price from the seller.

Buyer remorse. Occasionally a buyer simply gets cold feet, and, unfortunately, he usually gets his earnest money back. Bad news for the homeowner and for the Realtor.

An experienced Realtor can help to minimize these risks, though failed transactions can happen to any seller and any Realtor. I even see this occasionally in The Glen (in Glenview, Illinois) where I live and work. The Glen is an upscale residential community with luxury homes…single family homes, condos, townhomes, two-flats, and duplexes. The price points are substantial, so we typically see qualified buyers who are serious about their home search. But, as I say, it can happen.

If you may be interested in The Glen or greater Glenview, please call or email me.

Margaret Ludemann, @properties Realtor, margaretludemann@gmail.com 847-401-1802

Home buyers…by the numbers

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I’m a data freak. I love to sift through all kinds of numbers about the real estate market. And I think it makes me a better Realtor.

The Illinois Association of Realtors recently crunched it’s wealth of data to determine who buys homes in our state, and I thought you might be interested in the information it uncovered about home buyers. So here goes…

  • 69% of home buyers in Illinois are married, 17% are single women, 5% are single men, and 8% are unmarried.
  • The median income of a buyer (or married buyers) is just over $90,000.
  • 13% of buyers are veterans.
  • First time home buyers make up a little more than a third of the total (37% to be precise).
  • 92% choose a previously owned home; 8% buy new.
  • 14% of buyers are purchasing senior-oriented homes.
  • Home buyers expect to live in their homes for, on average, 15 years.
  • Particularly important to a Realtor like me, 86% use the internet during their home search; and they found photos to be extremely important to them. (No surprise there!)

It is important to understand, however, that there is no single real estate market in Illinois. These numbers include buyers in small towns, suburbs, and the city of Chicago.   Some buyers buy multi-million dollar single family homes while others purchase starter homes or condos. There are even multiple markets in The Glen (in Glenview Illinois), where I live and work. They are defined by home type and price point. To find a home in a market that is right for you (whether a community, a development, a neighborhood, or even a street), an experienced Realtor can inform and guide you.

Margaret Ludemann

@properties Realtor and Glen homeowner

847-401-1802   margaretludemann@gmail.com

New census of The Glen tell us a lot about the homes, neighborhoods and residents

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The new census for The Glen has just been completed, and it is interesting reading. For instance it tells us that there are 4,960 residents residing in 2,221 homes in the 13 development areas (read: neighborhoods), as of August, 2014. Of these nearly 5,000 residents, 1,367 are children.

Each year the Village of Glenview (in Illinois) has this census done to calculate payments to various jurisdictions which provide services to Glen residents. So, for instance, the more children in schools means that the village owes more money to local school districts. Let’s dig a little deeper into the census results.

The 13 development areas include 9 with privately owned homes or rented single and multi-family homes. The other 4 include Navy housing and 3 senior housing communities. Navy? Yes, indeed. The Glen resides on the grounds of the former Naval Air Station Glenview; and there remain 112 housing units for Navy personnel of which there are 213 adults and 80 children.

In the 9 communities with privately owned and rental homes, there are 3,921 residents of which 1,287 (33%) are children.   Here is a breakdown by neighborhood:

Chapel Crossing: 167 homes, 368 adults, 277 children

Landings (Concord): 143 homes, 324 adults, 250 children

Southgate: 299 homes, 626 adults, 413 children

Cambridge: 244 homes, 481 adults, 200 children

Tower Crossing: 154 townhomes, 306 adults, 68 children

Patriot Commons: 68 homes, 122 adults, 23 children

Regency: 146 homes, 179 adults, 43 children

Aloft: 181 apartments, 185 adults, 10 children

Glenshore: 31 homes, 43 adults, 3 children

Of the 1,287 children in The Glen, 1,175 are of school age. 82% attend public schools. 18% attend private schools. This last number is particularly interesting because in most suburban communities the percentage of children in private schools averages between 4% and 8%. This variance is likely due to the economic standing of Glen residents. In other words, it is a development comprised largely of affluent families who can afford private education.

There is a lot of additional information in this year’s census, and I will include more of it in future blogs.

Margaret Ludemann, Glen homeowner and @properties Realtor

847-401-1802, MargaretLudemann@cbexchange.com