housing sales

Home sales in Southgate at The Glen

by

Southgate is a housing development with 237 single family homes in The Glen. It also has 62 townhomes and villas. The Glen is the premier lifestyle community on Chicagoland’s North Shore in Glenview Illinois with 9 distinct neighborhoods offering luxury homes of all kinds, including single family homes, townhomes, row homes, villas, apartment condos, duplexes, and two-flats.

I haven’t blogged about Southgate since February 3rd, so I’m devoting this blog and my next to that wonderful neighborhood. Today I’ll address the sales of its single family homes, comparing with last year-to-date. Next week I’ll write about home prices. (Hint, they’re going up this year.)

So, analyzing sales data from January 1 through June 15, I’ve found that overall activity is similar to last year. That is rather amazing given the fact that we experienced such a long and severe winter. Real estate sales throughout the country were down through March, but started to pick up thereafter.

HOMES SOLD: In this 5.5 month period 4 single family homes have sold, meaning that the transactions are not only under contract, but they have actually closed. In the same period last year, 5 homes had closed.

UNDER CONTRACT HOMES: In addition to the homes that have closed, 5 are under contract (at June 15th) waiting to close sometime in the next couple of months. Last year, 4 were under contract on that date.

FOR SALE LISTINGS: Both in 2013 and 2014 there were 2 homes listed for sale at June 15th.

While activity has been similar in the two years, I’ve noticed that the real estate market in Southgate picked up last year after June 15. In fact, while 5 had closed by June 15, 2013, 8 more closed the rest of the year. Perhaps Southgate will experience a similar increase the rest of this year, though my guess is that 2014 may see somewhat fewer sales as compared with the red hot market in 2013.

If you would like to know more about living in Southgate or anywhere in The Glen, please contact me at 847-401-1802 or by email MargaretLudemann@gmail.com. I am a long time Glen resident and a @properties Realtor.

Margaret Ludemann

Glen Town Center Sold

by

Glen Town Center has recently sold. Owned by the Oliver McMillan Company out of San Diego since inception, it sold to Dallas, Texas based Tabani Group, Inc. last month. Glen Town Center is The Glen’s shopping and dining hub, basically the neighborhood’s “main street.”

The Glen is an upscale residential and retail development in Glenview, Illinois; and it’s generally considered the finest lifestyle community on Chicagoland’s North Shore. Nine residential neighborhoods reside in The Glen offering homes of all kinds including single family homes, town homes, row homes, apartments, duplexes, two-flats, villas, and condos. Home prices range from the $400,000’s to well over $1,000,000.

At the center of it all is Glen Town Center’s excellent restaurants (many with outdoor dining in the summer), shops & boutiques, a movie theater, a book store and a spa. Some of the popular spots along Tower Drive (main street) include Von Maur department store, Dick’s Sporting Goods, Glenview Jewelers, Hot Mama, and numerous small boutiques. Restaurants include Bravo Cucina Italiana, Yard House, MooYah, Jamisons, Ted’s Montana Grill, RA Sushi, and The Curragh Traditional Irish Pub. 90% of retail space is filled.  It is only Glen Town Center that sold, not the residential areas.

Glen homeowners love the lifestyle created by the vibrancy of Glen Town Center. It’s not just the restaurants and shops that attract area residents; Oliver McMillan sponsored many activities including an annual art festival, classic car days, weekly concerts on the green, and many things for children. The new owner promises even more activities in Glen Town Center.

The real estate market in The Glen is strong. Most homes sell rather quickly here and at a very high percentage of asking price. If you may be interested in living in The Glen, please contact me at MargaretLudemann@gmail.com. I am an original Glen homeowner and an award winning Realtor affiliated with @properties.

Margaret Ludemann

Real estate market losing steam? Not in The Glen!

by

I measured it.  It was ¾”.  That was the distance between two articles on page 3 of the Chicago Tribune’s Business Section of March 26.  One article said that home prices went down in January.  The other said that January’s prices had gone up “solidly”.  It’s no wonder that people get confused about the real estate market.

Now comes two new reports, one by the National Association of Realtors, the other by the Commerce Department.  If you only read the headlines you would believe that the sky is falling.  In fact Bloomburg’s report using Commerce Department data is entitled “Housing rebound in the U.S. loses steam…”  Ah, but the devil is in the details.  I’m here to tell you that there’s no loss of steam in The Glen’s (in Glenview) housing market.

As one reads these new reports carefully it becomes apparent that the loss of sales is primarily among homes priced under $300,000.  First time home buyers, therefore, are having a difficult time.  This is due largely to more stringent lending standards and higher mortgage interest rates.  Higher priced luxury homes, like those in The Glen, are selling well now that the severe winter is behind us.  Prices are continuing to rise as well.  Here in The Glen the only significant barrier to greater sales is low inventory.  But when quality homes come on the market, they are selling at a rapid pace; and this is true in most price points.  Homes in The Glen, depending on neighborhood sell from the mid-$300’s to well over a million dollars.  The average price paid for Glen homes in 2013 was $654,657.

So…the real estate market in The Glen is rolling along nicely.  I believe we will experience a very nice gain in sales, certainly in home prices, when we see year-end numbers next January.

If you may be interested in living in The Glen, please contact me.  I am a long time Glen homeowner and an award winning Realtor affiliated with @properties.

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

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