Landings in The Glen

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

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.

 

 

The Glen Census: Neighborhoods, Residents, Children

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Often I receive phone calls or emails from people who live outside of the Chicago metropolitan area who have heard of The Glen or who discovered it while performing real estate searches.  Many found individual homes online, but wonder what the neighborhood is like…and if it’s family/children friendly.  Well, here is some of what I tell them…

                                            “The Glen – By the Numbers.”

NEIGHBORHOODS:  The Glen is not just one neighborhood.  In fact, we have 13 defined residential areas.  They can be classified into three different types of housing:

(1) Privately owned or rented single and multi-family units: Chapel Crossing at The Glen, Landings at The Glen, Cambridge at The Glen, Southgate on The Glen, Patriot Commons at The Glen, Regency at The Glen, Aloft at The Glen Tower Center, Tower Crossing at The Glen and Glenshore Condos;

(2) Senior housing: Vi at The Glen, Chestnut Square at The Glen and Thomas Place; and

(3) Navy town homes (The Glen is located on the land formerly used as Naval Air Station Glenview, and there continues to be some Navy housing.)

HOMES, POPULATION & CHILDREN:  There are 2,075 homes and 4,843 residents in The Glen.  For the record, I haven’t met one who doesn’t love it here.  Of those nearly 5,000 residents are 1,420 children.

  • 1,119 of the children are old enough to attend school.
  • Of these, 210 attend non-public schools (about 18%).
  • 948 children attend the several excellent public schools in Glenview.

The numbers, of course, only tell you a part of the story.  To learn about our homes, shopping, dining, golfing, and lifestyle, please give me a call at 847-401-1802.

Margaret Ludemann

Glen Resident & @properties Realtor

Over 500 Townhomes & Villas in The Glen

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The Glen in Glenview, Illinois is known for many things including Glen Town Center (shopping, dining, entertainment), two golf courses (The Glen Club, Glenview National 9), the Park Center, Kohl Childrens Museum, and several beautiful neighborhoods (Cambridge, Chapel Crossing, Glen Shore, Landings in The Glen, Patriot Commons, Regency at The Glen, Southgate, and Tower Crossing), and 671 single family homes.  Today, though, I want to tell you about the many townhomes, villas, duplexes and two-flats in The Glen.

There are over 500 multi-family private homes in The Glen, and there is significant diversity among these lovely properties.  They range in size from 1141 sq ft to over 4100 sq ft…and in price from around $300,000 to the high $700,000s.  Here is a breakdown of the various neighborhoods which have multi-family homes:

Cambridge:  108 townhomes, 35 duplexes, 13 two-flats.  There is a variety of sizes and models.

Glen Shore:  38 condo/apartments are available in various sizes & models.

Patriot Commons:  Six townhome and condominium models are available, offering 1141 sq ft to 1388 sq ft.

Regency:  109 townhomes and 40 ranch villas.  Townhomes range in size between 1523 sq ft and 1835 sq ft.  Villas are larger at 1883 sq ft – 2493 sq ft.

Southgate – Phase 1:  38 lovely row homes offer 1,585 to 1,919 sq ft.  24 charming villas offer 1,625 to 2,055 sq ft.

Tower Crossing:  154 row homes, 6 models, 3031 sq ft to 4105 sq ft.

Some new construction homes are available, and many existing homes are for sale.  If you would like additional information, please contact me at 847-401-1802.

Margaret Ludemann, resident of The Glen

Regency at The Glen – Townhomes & Villas Selling Fast

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New ranch villa in Regency in The Glen

The Glen’s newest housing development, Regency at The Glen, is really taking shape.  In fact, several homes have been completed, and the new owners have moved in.  I’ve been following construction progress since developer Pulte broke ground early in 2012, and I am amazed at how much has happened just in the last month.  Regency will have 109 townhomes and 40 ranch villas when all is said and done sometime in 2013.   Townhomes range in size between 1523 sq ft and 1835 sq ft.  The beautiful ranch villas are larger at 1883 sq ft – 2493 sq ft.

There is only one villa still for sale; all others have been sold.  Many of the townhomes are still available, but they too are moving fast.

The Glen has incorporated different housing styles and sizes quite nicely.  Naturally there are several single family home neighborhoods such as Chapel Crossing, Landings at The Glen, Cambridge and Southgate on The Glen.  There is one condo development as well, Glen Shore.  Townhomes are very popular here due to the urban feeling of the community with it’s own main street, restaurants, and shops.  Neighborhoods with townhomes include Tower Crossing, Cambridge, Southgate, and Patriot Commons.  Cambridge, Patriot Commons, and Southgate, like Regency, also offer ranch villas.

Regency is a short walk to Glen Town Center.  If you would like a tour, please give me a call at 847-401-1802.

Margaret Ludemann, Glen Resident & @properties Realtor