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Live, Dine, Shop, Play...in the North Shore’s Premiere Community

Realtor® Margaret Ludemann, Glen Homeowner

The real estate market is strong this year…nationally and in the Glen

July 7, 2015 by Margaret Ludemann

As a realtor I’m asked about the real estate market every day.  And since I live in The Glen, a luxury home development in Glenview Illinois, everyone wants to know how homes are selling here.  Well, the market is strong, thank you very much.

Home sales are up nationally and in in the Glen. New construction is leading the way; and in the Glen that means in the Westgate and Patriot Commons neighborhoods.  It’s anticipated that new home sales will be up over 20% across the country. Existing home sales nationwide will likely increase 5% to 7% this year which is also strong.

The strength of home sales is primarily due to three factors:

  1. First time home buyers. Rents have increased substantially this year, encouraging many renters to purchase homes.
  2. Lending standards have eased up which is increasing the buyer pool.
  3. Continued low interest rates. Mortgage interest rates have trended up modestly in the last few months (about a quarter point), but they remain low by historical standards. Thirty year fixed rate loans are currently at about 4.1%, and jumbos are at this same level. Many home sales in the Glen – particularly in the Southgate, Tower Crossing, Chapel Crossing, Landings, and Cambridge neighborhoods – involve jumbo loans. Jumbos typically carry a somewhat higher rate, though that is not the case currently. Interest rates may increase a bit more in 2016 and 2017 making now a good time for buyers (and therefore for sellers, too).

The Glen is a wonderful place to live. In addition to all of the beautiful homes, the community lifestyle is hard to beat. There are two great golf courses, both within walking distance of any home in the Glen. The central marketplace is called Glen Town Center which has numerous restaurants (casual and upscale), many shops and boutiques, a movie theater, and a book store. If you are 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   margaretludemann@gmail.com   847-401-1802

Filed Under: Uncategorized Tagged With: @properties, Cambridge, Chapel Crossing, Glen Town Center, Glenview, home sales, interest rates, Landings in The Glen, Margaret Ludemann, new construction, Patriot Commons, real estate market, Realtor, Southgate in The Glen, The Glen, Tower Crossing, Westgate at the Glen

Margaret Ludemann, Realtor®
Phone: 847-401-1802
Text: 847-401-1802
Email: margaretludemann@gmail.com

at properties logo

@properties
1517 Waukegan
Glenview, IL 60025

@properties and Realtor® Margaret Ludemann are not affiliated with and do not represent any for-profit business or not-for-profit organization associated with the development known as The Glen, in Glenview, Illinois, including but not limited to any retail or commercial or professional enterprise, developers or builders operating in The Glen, or homeowners associations therein. Realtor Margaret Ludemann, Glen Homeowner is affiliated with @properties.
Broker Reciprocity© 2013 Midwest Real Estate Data, LLC (MRED). The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data, LLC (MRED). Real Estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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