Greater Hinsdale, IL Real Estate and News

Timely news and information about real estate and community news in Hinsdale, Illinois

May 14, 2008

Understanding Today's Real Estate Market

How home buyers and home sellers got where we are in today's real estate market

Reprinted with permission from the Institute For Luxury Home Marketing

What created today’s market conditions?

The conditions leading to the current credit crunch and real estate slowdown are largely a result of a frenzy of demand – demand created by the global investment market and by individual investor/speculators. Beginning in 2000, the world’s pool of investment money exploded. In 2000, there was a pool of about $35 trillion dollars invested or seeking investments. But in the short time between 2000 and 2006, that global money pool doubled to about $70 trillion. This translates to a huge number of cash-rich investors -- from pension funds to sovereign funds—all competing for good investments.

Money to spend!

Pools of mortgage loans (mortgage backed securities) have historically been viewed as safe, desirable investments. So, the growth in investment funds meant demand for these investment vehicles soon outstripped supply. Mortgage companies recognized that if they could generate more loans, they could sell them. Wall Street created new ways to package these mortgages, sell them, and pass the benefits and risks on to investors. In addition, more loans supported the political objective of increasing home ownership.

At first it seemed like a win-win. Mortgage money fueled home ownership. The lenders made money, Wall Street prospered and the risk to investors was evaluated based on historical data showing low loan default rates in the U.S. The problem was that in the rush to make more loans, lenders’ underwriting requirements slipped. What lenders call "liars loans" became common. These loans required no verification of income or assets. The lender took your word that you had a job and that your income and assets were what you said they were. They simply checked your credit score and made the loan. Adjustable rate loans, interest-only loans, and other loans previously used for special situations, went main stream and were often misused.

This flood of cheap, easy money (designed to produce the maximum number of loans) attracted small investors who decided to join the home buying party. In 2004, a less than terrific stock market caused many investors to look for alternate investments. The California, Florida, Washington D.C. markets (plus a few other major markets) were attractive locations for investment due to strong population growth, healthy job markets, and good overall economic prospects. Investors swarmed into these markets under the assumption that money invested in residences would generate higher returns than the stock market or other investment options. They were right. However, in lock step with investors, came swarms of speculators (we’re defining speculators as investors who really couldn’t invest without special financing). The low underwriting standards allowed them into the market.

The demand created by these two groups created a buying environment in these targeted markets where flipping became the norm. It ceased to matter whether a property would cash flow or even be rented. There were quick profits to be made. Return-on-investment was high. Strong demand allowed investors and speculators to contract for a property with a small deposit and sell the property at a profit prior to closing. Others bought, held briefly, and resold for more money. Price appreciation soared with the demand. Developers and builders followed the money and inventories began to rise.

2005: The frenzy moved to new markets

By 2005, many savvy small investors felt the top markets of 2004 offered less opportunity and they looked for new markets where economic fundamentals were good and prospects for home appreciation were strong. In short, they wanted to duplicate the smart investments of 2004 in new markets. This shift or "spillover" into new markets like Phoenix/Scottsdale (AZ), Las Vegas (NV), Reno (NV), Seattle (WA), and Cape Coral (FL), created new demand in these markets. Speculators followed, as did builders and developers. Second home buyers also jumped into the fray, adding to the demand. Government home ownership programs encouraged those at the bottom of the economic pyramid to buy. Money was fueling the market. Homeowners who didn’t want to sell, refinanced instead using the high valuations on their homes to take out cash. Home equity was used like cash from an ATM machine to fuel consumer purchases contributing to a more robust economy. The total number of loans soared.

During 2005, almost 40% of all home buyers were investor/speculators or second home/vacation buyers (27.7% & 12.2% respectively). The difference between the two is primary intent. Investors were looking for return on their investment, while second home buyers’ primary motivation was to use a property as a residence. Appreciation soared in these spillover markets in 2005. For example, Phoenix/Scottsdale prices jumped almost 40% in 12 months.

This was not a normal market, nor one which thoughtful observers would expect to continue. Bubbles were being formed. However, the housing boom was an economic engine and everybody wanted on board. Anyone looking closely at the situation should have seen trouble on the horizon. But, consumers were getting dream homes, lenders and Wall Street were raking in profits, home ownership was growing, industry job creation was strong, old statistics promised the investments were safe, and regulators must have been dozing.

5/14/2008 The Institute for Luxury Home Marketing 2

2006: The real estate market slowed

By 2006, some home owners began having difficulty making their loan payments as loans ballooned or rates clicked up. When lending practices began to tighten in 2006 and some loans had significant rate adjustments, there were fewer qualified buyers and more available inventory, so market conditions changed. Many buyers found themselves with properties they couldn’t afford and loans that were upside down – more was owed on the properties than they were worth. There were fewer investors pursuing residential investments and those that were out there shifted their target markets looking for new opportunities for good returns. Speculators began to fall out of the market.

In 2006, 36% of buyers fell into the investor/speculator or second home buyer category. The percentage of investors had declined to 22%, while the percentage of second home buyers had increased to 14%. Despite the overall slowdown, there were still some markets with good appreciation (investor/second home buyer demand, a booming oil business and Katrina relocations all being important factors). Top appreciation rates in 2006 were about half of what they’d been in 2005. Overall, national home sales slipped 10.8% in 2006, compared to the previous year. However, mortgage securities were still a hot commodity.

2007 and 2008: The slowdown continued

By 2007, the downturn in housing had gained momentum. Lenders were facing a secondary loan market which was becoming a bit more selective about loan purchases. Money was getting tighter. Job losses and other economic issues in markets like Cleveland and Detroit contributed to the slowdown. By the end of the year, The National Association of REALTORS® reported that the housing market was off by 12.8% compared to 2006 (which, remember was already down about 10% compared to 2005). The new home market had suffered even more, falling a whopping 26%, according to The National Association of Home Builders.

2008 brought a serious "credit crunch." The creative packaging of loans into new forms of mortgage securities, (which had fueled the market by keeping money flowing for home investment) suddenly became a more visible problem. As buyers defaulted, the value and marketability of the mortgage securities became questionable. The financial market took a closer look at these securitized mortgages and realized that ratings based on old underwriting standards were irrelevant and the risks were significantly higher than projected. Defaults and foreclosures soared, home inventories rocketed up, and home prices softened. Available money dried up and the financial market faced liquidity and solvency issues. The bubble had burst. The loan frenzy was over, leaving an industry questioning how to deal with the resulting problems.

So what’s ahead? With money tighter, home inventories high, an economy that is either in or on the brink of recession, a weak U.S. dollar, and lower demand for housing, it seems safe to assume that the short term economic news is not good for residential real estate. We have not yet seen the full extent of problems in the housing market and may soon have to deal with similar problems with auto loans and credit card debt. It will probably take the rest of 2008 and all of 2009 before we work our way out of the housing downturn.

5/14/2008 The Institute for Luxury Home Marketing 3 5/14/2008 The Institute for Luxury Home Marketing 4

The luxury market continues to perform well

It’s not all doom and gloom. The top of the market continues to be healthy. Many of the country’s most affluent zip codes are still enjoying price appreciation. Recent research by The Harrison Group for American Express revealed that the affluent view today’s real estate market as an opportunity. In fact, those who earn at least $500,000 annually not only see an opportunity; they plan to buy residential real estate in the next 12 months. Of the 40% who report buying plans, the majority say their planned purchase will be a second or third home. This demand will be supplemented by wealthy international buyers who view our residential properties as "on sale" and are continuing to purchase in many major markets.

Bottom line – the market overall is soft and will be for awhile; however, the top of the market is out performing other segments.

Source:

The Institute for Luxury Home Marketing, 2008

by Bryan Bomba
Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
www.bryanbomba.com | 630.706.7223


May 13, 2008

Live In The "Heart of Hinsdale" In The Most Revered Location

407 S. Lincoln in Hinsdale IL offers an unmatched level of everyday convenience

407 Lincoln Hinsdale ILWhen asked about their favorite characteristics of this Hinsdale IL home, the owners usually have three answers:

  1. The Front Porch. Just take a look at this! Is there any more relaxing way to wind down on a warm evening?
  2. This location. The 400 block of South Lincoln is as good as it gets from a convenience point of view. This is especially true if you have a student at the Hinsdale Middle School (one block away) or a train commuter (two blocks away).
  3. The new kitchen. And I mean brand new. A complete gut job.

407 Lincoln Front View

Although this home is plenty large in its current state, the extra deep 66' x 165' interior lot lends itself to expansion.

The garage is accessible via the alley. That's pretty cool as you do not have a ribbon of concrete running through your yard. Also, there's a parking pad which is perfect for a basketball setup.

In addition to being oversized, the garage has an internal staircase which leads to a loft area. I cannot help but think that this has potential to be the world's sweetest home office. Talk about an easy commute.

To summarize some of the home's important characteristics:

Main Level

Foyer ~
 Traditional entry door
 Hardwood flooring
 Guest coat closet

Living Room (21 x 13) ~
 Oversized room can accommodate the largest of furniture
 Hardwood flooring
 Crown molding
 Tall base molding
 Gas fireplace with brick surround and traditional mantel
 French door access leading to family room

Dining Room (15 x 12) ~
 Hardwood flooring
 Tall base molding
 Crown molding
 Chair rail
 Decorative light fixture

Kitchen (22 x 12) ~
 Entirely new in 2007!
 Hardwood flooring
 Maple cabinets, stained and glazed, with full overlay doors
 Granite counter tops
 Brick pattern decorative back splash
 Pantry
 Ample recessed can lighting
 Decorative light fixture
 Stainless steel appliance package includes Sub Zero refrigerator; Wolf oven/range; Wolf range hood; Bosch dishwasher
 Large eating area
 French door with direct access to rear deck

Family Room (20 x 15) ~
 Hardwood flooring
 Tall base molding
 Built-in book cases and cabinets
 French door with direct access to rear deck

Powder Room ~
 Hardwood flooring
 White plumbing fixtures

Second Level

Master Bedroom (15 x 16) ~
 Hardwood flooring
 Tall base molding
 Vaulted ceiling
 Double bank of windows
 Walk-in closet

Master Bathroom ~
 Ceramic tile floor and tub surround
 Wood vanity
 White plumbing fixtures

Bedroom 2 (16 x 13) ~
 Hardwood flooring
 Walk-in closet
 Decorative light fixture

Bedroom 3 (11 x 11) ~
 Hardwood flooring
 Reach-in closet

Bedroom 4 (15 x 10) ~
 Hardwood flooring
 Reach-in closet

Hall Bathroom ~
 Ceramic tile floor and shower surround
 White plumbing fixtures

Basement

Recreation Room (19 x 15) ~
 Carpeting
 Drywall walls
 18 x 15 storage room
 Additional storage closets

Laundry Room (15 x 13) ~
 Large storage area
 Utility sink
 Cabinets

Mechanicals ~
 Two furnaces
 Central air conditioning
 50-gallon water heater
 200-amp electric

Miscellaneous

Interior Features ~
 Six panel interior doors
 
Exterior Features ~
 Frame siding
 Detached 2 ½-car garage with 25 x 17 finishable loft/office area above with interior staircase
 Covered front porch
 Blue stone front walkway
 Blue stone walkway from house to garage
 Rear deck

Schools ~
All school scores can be viewed online at www.BryanBomba.com
 Oak Grade School, District 181
 Hinsdale Middle School, District 181
 Hinsdale Central High School, District 86

Village of Hinsdale Website ~
 http://www.villageofhinsdale.org

Thank you for taking the time to consider this home.  The owners would like to thank you as well.  Should you have any questions or concerns, please feel free to contact me at your earliest convenience.  It would be my pleasure to assist you!

Bryan Bomba
RE/MAX Elite 
630.706.7223
Bryan@BryanBomba.com

ALL ROOM, AS WELL AS LOT, MEASUREMENTS, ARE APPROXIMATE. ALL INFORMATION PRESENTED HEREIN IS ACCURATE TO THE BEST KNOWLEDGE OF THE LISTING AGENT AND IS PRESENTED ONLY FOR THE PURPOSE OF ASSISTING A BUYER IN MAKING A PRELIMINARY EVALUATION OF THE PROPERTY. IN ARRIVING AT A DECISION TO BUY, THE BUYER IS CAUTIONED TO VERIFY TO HIS OR HER SATISFACTION ANY INFORMATION PRESENTED HEREIN THAT WILL HAVE INFLUENCE UPON THEIR DECISION. NO LIABILITY IS ASSUMED BY RE/MAX ELITE OR THE DESIGNATED AGENT FOR INACCACIES, ERRORS OR OMISSIONS IN THIS PRESENTATION 05/13/08.

by Bryan Bomba
Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
www.bryanbomba.com | 630.706.7223


May 13, 2008

The Residential Real Estate Market Report For Chicago's Near Western Suburbs

No hype, just real estate market statistics to help you understand the current real estate conditions

Every week, I perform a thorough analysis of the statistics for the residential real estate market in the near western suburbs of Chicago. Specifically, I review Burr Ridge, Clarendon Hills, Downers Grove, Elmhurst, Hinsdale, La Grange and Western Springs. This week I will report on Western Springs IL.

In all of Western Springs, there are 143 detached homes on the market at this time, per MLS sources. These houses have an average marketing time of 225 days. Of these 143 homes, 27 are under contract. That's about 19%.

Over the past 30 days, there have been 13 newly accepted contracts in the same segment of the market. Last year, over the same period, there had been 19 newly accepted contracts.

The average asking price for a detached hoe in Western Springs is $844,787.

While foreclosure activity has risen, it's impact on the market has been overstated. Click here to read a recent article in The Doings newspaper.

by Bryan Bomba
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www.bryanbomba.com | 630.706.7223


May 10, 2008

Clarendon Hills Real Estate: Luxury Home By Parkview Custom Homes

31 McIntosh offers the best of the Clarendon Hills lifestyle, now at a reduced price of $2,195,000

31 McIntosh Clarendon HillsIn Clarendon Hills, there are no strip malls. No traffic congestion. No mega anything. Just an intimate jewel of a town where your kids know the neighborhood and the neighborhood knows the kids.

If you value a one block walk to the Metra commuter train station, a one half block walk to Prospect Grade School or a one block walk to the Clarendon Hills Middle School, perhaps you are ready to take a look at quite possibly the most impressive home you've seen.

To make the transition into your new home even more palatable, we've re-positioned the price to $2,195,000. When you contact me, just reference 31 McIntosh in Clarendon Hills Illinois.

by Bryan Bomba
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www.bryanbomba.com | 630.706.7223


May 09, 2008

What Makes This Floor Plan So Popular In The Oak Brook Club?

The magic of this condominium's floor plan is that it "lives" like a single family detached home

Oak Brook Club Floor PlanI know that it's tough to see this Oak Brook Club floor plan, but if you'd like a copy emailed to you, just click here and ask me for one.

This floor plan measure approximately 2133 square feet, according to the York Township Assessor's Office. This is not much smaller than many single family detached homes in this near western suburban market area. It's genius is that it walks, lives and feels like the larger home that many downsizing buyers have just left.

The formal areas are spacious enough so that the new residents need not discard their family furniture. The informal spaces are cosy enough for day-to-day living, yet flexible enough in design to accommodate the grand kids on those days of visitation.

And talk about privacy! This is a corner unit-it does not get any more private than that. The walls, floors and ceilings are designed and built so that you do not hear those around you.

Did I mention the view? Take a look at this yard (which you will never have to maintain, by the way). View Of Oak Brook Illinois

The home faces east, so you'd be greeted each morning with a sunny accompaniment to your coffee.

3 Oak Brook Club Unit D307 is priced at $449,900. This represents an exceptionally good value for a top floor condominium with this preferred floor plan. Please contact me at 630-706-7223 for more information or just click here and ask your question

by Bryan Bomba
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www.bryanbomba.com | 630.706.7223


May 08, 2008

Hinsdale IL Real Estate: Just Reduced To $2,850,000

An ultra-premium luxury family home in a walk to everything location
Google Map

When convenience matters....Think of 427 W. Walnut in Hinsdale.

In Hinsdale, being able to conveniently walk to school, Burns Field, the Metra train and downtown Hinsdale are huge pluses. From this local Hinsdalean point of view, the appeal of in-town living does not get any better than at this location.

The home is situated across the street from the Monroe Grade School. That means that there's never an excuse for being late for class.

The pricing on this luxury family estate has just been reduced for a faster sale. The price is now $2,850,000.

As always, feel free to contact me for details or simply to ask your question on 427 W. Walnut in Hinsdale.

427 West Walnut Hinsdale IL 60521

by Bryan Bomba
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www.bryanbomba.com | 630.706.7223


May 06, 2008

An In-Town Hinsdale Cape Cod For $449,900?

630 Bodin in Hinsdale is a blowout-priced home on one of the best blocks in the Madison Grade School Area.

630 Bodin Hinsdale Illinois

Don't let the attractive price mislead you. This is an absolutely perfect opportunity for you if:

  • You are a first time buyer who'd love to move to Hinsdale, but are not yet ready to fork over $1,400,000 for a house (the average asking price for a detached home in Hinsdale)
  • You are a recently divorced parent who wants to live in the impressive District 181 school area (Madison Elementary School specifically), but you've had to downsize as a result of the dissolution of marriage
  • You are a savvy investor who knows the underlying land alone is worth $400,000+-. This is an awesome opportunity to buy a house, rent it out and develop it later.

One characteristic is universal. This location is stellar, stellar, stellar. It's on one of the best blocks in the entire Madison Elementary school area.  It's just 2 blocks to Madison School. It's just four blocks to the Metra train. And about 49 steps to Dietz Park.

The street's tree cover is nothing short of gorgeous.  The 600 block of Bodin is comprised of character-rich $1+Million homes. Both sides of the block have homes that are so beautiful, be careful driving because you'll be inclined to be head-turning to see one cool house after another. 

The home at 630 Bodin is a clean & charming four bedroom Cape Cod. Hardwood floors. Tasteful neutral décor. Don’t be misled by the low price. This is a winner! See for yourself. Just contact me for a private showing.

More details on this fine home....

Main Level

Living Room (14 x 14) ~
 Traditional entry door
 Hardwood floor
 Hardwood staircase with carpeted runner
 Bay window
 Coat closet

Kitchen (18 x 12) ~
 Ceramic tile floor
 Wood cabinets
 Eat-in area
 Appliance package includes oven/range; refrigerator; dishwasher
 Pantry

Family Room (16 x 11) ~
 Carpeting
 Bumped out window
 Window seat
 Built-in shelves

Master Bedroom/Northeast (15 x 12) ~
 Wood floor
 Reach-in closet
 Ceiling fan

Full Bathroom 1 ~
 Ceramic tile floor and tub surround
 Solid surface counter top
 Wood vanity

Bedroom 2/Northwest (14 x 10) ~
 Wood floor
 Reach-in closet
 Decorative light fixture

Second Level

Bedroom 3/Northeast (15 x 10) ~
 Wood floor
 Full wall closets

Bedroom 4/Southeast (20 x 14) ~
 Wood floor
 Two closets

Bathroom 2 ~
 Vinyl tile floor
 Ceramic tub surround
 White plumbing fixtures

Basement

Recreation Room (24 x 13) ~
 Tile floor
 Drywall walls

Laundry Room (15 x 8) ~

Miscellaneous

Exterior/Mechanicals ~
 Frame siding
 Aluminum gutters
 Concrete driveway
 1 ½-car garage
 Central air conditioning
 100-amp electrical service

Schools ~
All school scores can be viewed online at www.BryanBomba.com
 Madison Grade School, District 181
 Hinsdale Middle School, District 181
 Hinsdale Central High School, District 86

Village of Hinsdale Website ~
 http://www.villageofhinsdale.org


Thank you for taking the time to consider this home.  The owners would like to thank you as well.  Should you have any questions or concerns, please feel free to contact me at your earliest convenience.  It would be my pleasure to assist you!

Bryan Bomba
RE/MAX Elite 
630.706.7223
Bryan@BryanBomba.com

ALL ROOM, AS WELL AS LOT, MEASUREMENTS, ARE APPROXIMATE. ALL INFORMATION PRESENTED HEREIN IS ACCURATE TO THE BEST KNOWLEDGE OF THE LISTING AGENT AND IS PRESENTED ONLY FOR THE PURPOSE OF ASSISTING A BUYER IN MAKING A PRELIMINARY EVALUATION OF THE PROPERTY. IN ARRIVING AT A DECISION TO BUY, THE BUYER IS CAUTIONED TO VERIFY TO HIS OR HER SATISFACTION ANY INFORMATION PRESENTED HEREIN THAT WILL HAVE INFLUENCE UPON THEIR DECISION. NO LIABILITY IS ASSUMED BY RE/MAX ELITE OR THE DESIGNATED AGENT FOR INACCURACIES, ERRORS OR OMISSIONS IN THIS PRESENTATION 05/06/08.

by Bryan Bomba
Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
www.bryanbomba.com | 630.706.7223


May 05, 2008

Home Building Activity Report In Hinsdale IL

Report on building permit activity as a measure of the residential real estate market in Hinsdale IL

For the first quarter of 2008, new home building activity is down approximately 25% in Hinsdale IL. The Village Of Hinsdale Building Department reports that they have issued 12 permits for new home construction in the village. Over the same period last year, there were 16 building permits issued.

On the other hand, there has been a 40% increase in the first quarter for permits for residential additions and renovations. 17 permits of this type were issues by the Village of Hinsdale this year. 12 were issued over the same period in Hinsdale last year.

Demolitions were about even. Hinsdale issued 15 demolition permits so far this year whereas 16 were issued last year.

by Bryan Bomba
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www.bryanbomba.com | 630.706.7223


May 02, 2008

Oak Brook Real Estate: An End Unit Town House In A Most Convenient Location

Traditionally designed all brick town home is just a quick drive from Interstate 88
Google Map

When it comes it luxury town house living, nothing beats an end unit. End unit town houses feel like single family detached homes.

This one, located at 2s688 Williamsburg in Oak Brook, has the extremely unique benefit of having two extremely private outdoor patio areas. One is located off of the living/great room on the first floor. The other is adjacent to the recreation room in the walk out lower level.

This home is in pristine condition and has completely neutral decor. There is not any unappealing decor to undecorate.

Moreover, it's an extremely popular floor plan known as the Mount Vernon.

For more details read on...or just click here to contact me and ask your question.

Main Level

Foyer ~
 Traditional entry door with side light
 Ceramic tile flooring
 Guest coat closet

Great Room (19 x 18) ~
 Hardwood flooring
 Fireplace with mirror surround
 Vaulted ceiling
 Double sliding glass door with access to private rear patio
 Ceiling fan

Dining Room (14 x 10) ~
 Ceramic tile flooring
 Two windows

Kitchen (14 x 11) ~
 Ceramic tile flooring
 White cabinets
 Solid surface counter top
 Bumped out breakfast area
 White appliance package including refrigerator with through-the-door water and ice; double oven; cook top; dishwasher; microwave; and disposal

Powder Room ~
 Conveniently located mid-way between first floor and lower level
 Ceramic tile flooring
 Kohler pedestal sink
 Wall sconce

Second Level

Master Bedroom (16 x 13) ~
 Neutral plush carpeting
 Sliding glass door
 Large walk-in closet
 Ceiling fan

Master Bathroom ~
 Ceramic tile flooring and tub surround
 White vanity

Bedroom 2 (11 x 13) ~
 Neutral plush carpeting
 Walk-in closet
 Ceiling fan

Full Bathroom 2 ~
 Ceramic tile flooring
 Stand-up shower
 Solid surface counter top
 Wall sconce

Lower Level

Recreation Room (27 x 17) ~
 Multi-level loop carpeting
 Fireplace
 Built-in shelves on both sides of fireplace
 Sliding glass door with direct access to private patio

Bar Area ~
 Built-in bar with sink
 Upper and lower cabinets

Laundry Room (14 x 7) ~
 Washer and dryer
 Utility sink

Mechanicals ~
 Furnace with Aprilaire humidifier
 50-gallon water heater

Miscellaneous

Exterior Features ~
 Brick exterior
 Two-car attached garage

Schools ~
All school scores can be viewed online at www.BryanBomba.com
 Bell Aire Grade School, District 58
 Herrick Middle School, District 58
 Downers Grove North High School, District 99

Village Link ~
 http://www.oak-brook.org/

 
Thank you for taking the time to consider this home.  The owner would like to thank you as well.  Should you have any questions or concerns, please feel free to contact me at your earliest convenience.  It would be my pleasure to assist you!

Bryan Bomba
RE/MAX Elite 
630.706.7223
Bryan@BryanBomba.com

All room, as well as lot measurements, are approximate. All information presented herein is accurate to the best knowledge of the listing agent and is presented only for the purpose of assisting a buyer in making a preliminary evaluation of the property. In arriving at a decision to buy, the buyer is cautioned to verify to his or her satisfaction any information presented herein that will have influence upon their decision. No liability is assumed by RE/MAX Elite or the designated agent for inaccuracies, errors or omissions in this presentation

by Bryan Bomba
Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
www.bryanbomba.com | 630.706.7223


May 01, 2008

Home Sellers And Home Buyers: Avoid The Pitfalls Of Incorrect Home Pricing

Top mistakes (and solutions for them) made by buyers and sellers in today's real estate market

Podcast on House Pricing For Buyers and Sellers

In this month's (May 2008) edition of Bryan Bomba's real estate podcast, we cover residential real estate market activity in the near western suburban market of Chicago. Also,  we'll talk about how to avoid the pricing pitfalls and still manage to get top dollar for your home!

Features special guest Terri Murphy of US Learning.


Program length: approximately 6 minutes

by Bryan Bomba
Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
www.bryanbomba.com | 630.706.7223


April 30, 2008

Vacant Land Zoned For Town Houses In Du Page County

Just over an acre is perfect for a small town house development for 6 or more units
Google Map

Luxury town house developments targeted toward empty-nesters and professionals are outperforming the larger market. Moreover, the small boutique subdivisions offer an appeal that's simply non found in the mega-complexes.

Here's a unique opportunity to provide 6 (or more) town houses in a highly desirable section of Naperville. It's on the southeast side-far removed form the congestion of Route 59. This section of town offers easy access to the suburbs located east of Naperville: Downers Grove, Burr Ridge, Oak Brook, Hinsdale and Clarendon Hills.

Here are the basic characteristics of the property located at 9s364 Naper Blvd in Naperville:

  • just over one acre
  • approved for six units (but higher density is possible) in incorporated Naperville
  • includes blueprints for three duplex buildings (six units total); all end units; all first floor master suites; highly refined architecture
  • highly desirable district 203 schools
  • good access to downtown Naperville's shops and restaurants
  • priced at $1,099,000 ($183,167 per unit) includes blueprints and engineering
  • many other successful developments in the immediate area

    This is a unique opportunity for a small development that could be done in phases, given that these are duplexed buildings. The appeal of the architecture is directly targeted toward the downsizing affluent and professionals. There's not another opportuntiy quite like this one.

    Contact me for more information.

  • by Bryan Bomba
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    www.bryanbomba.com | 630.706.7223


    April 29, 2008

    Hinsdale Cop Runs Youth Football Clinic

    "Break Through Athletes" is a intensive program designed to give the student athlete an edge in the upcoming football season

    Break Through Athletes is a six to eight week program designed to give the student athlete the edge is this year's upcoming football season. This program is football specific.

    Through the use of former college level athletes with focus in strength, conditioning, personal training and football, the program will improve your child's strength, speed and skill.

    Click here for a current brochure detailing the various classes i.e., beginner, youth or high school prep.

    What better way to get your kid off the streets of Hinsdale this summer?

    by Bryan Bomba
    Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
    www.bryanbomba.com | 630.706.7223


    April 28, 2008

    New Home With 3 Car Garage In A Walk To Hinsdale Central High School Location

    5548 Washington offers nearly 7000 square feet of living area and is just steps from this impressive high school

    5548 Washington Hinsdale IL

    What better excuse can a parent have for not allowing a child to drive to school than being within steps of the school?

    5548 Washington in Hinsdale offers such a quick and easy walk to Hinsdale Central High School that it's likely that your children's friends will want to park in your driveway or three car garage. Just make sure that you charge enough rent. After all, this location is a fairly rare commodity.

    The house is completed new construction. It's ready to move in right away.

    Another unique characteristic is the 64 x 297 lot. It's nothing short of amazing. Think about it. It's the same length as a football field.

    Oh. Washington Street is a cul-de-sac. In and of itself, this is an anomaly in Hinsdale as most streets are through streets.

    All in all, this is quite a nice family home package.

    Let me know what questions you have and I will address them right away.

    Main Level

    Foyer ~
     Mahogany, elliptical top, double entry door with beveled and leaded glass
     Maple flooring
     Architectural ceiling detail
     Two guest coat closets

    Living Room (15 x 14) ~
     Maple flooring
     Triple bank of ceiling-to-floor windows with divided light glass
     Window seat
     Cove molding
     Tall base molding
     Marble see-thru fireplace with traditional mantel
     Architectural ceiling detail

    Dining Room (15 x 14) ~
     Maple flooring with inlays
     Architectural ceiling design
     Designer light fixture
     Triple bank of divided light windows
     Window seat
     Chair rail with picture frame wainscoting
     Cove molding
     Tall base molding

    Butler’s Pantry (6 x 6) ~
     Maple flooring
     Natural wood upper and lower cabinets with full overlay doors and rope detail
     Granite counter tops

    Butler’s Pantry (continued) ~
     Under cabinet lighting
     Decorative stone tile back splash
     Recessed can lighting

    Kitchen (18 x 17) ~
     Maple flooring
     Natural wood cabinets with full overlay doors and rope detail
     Granite counter tops
     5’ x 8’ center island with breakfast bar and vegetable sink
     Designer pendant lighting over island
     Recessed can lighting
     Double bank of windows over sink
     Appliances include Thermador thermal/convection wall oven with microwave and warming drawer; 4-burner with griddle oven/range; Bosch dishwasher

    Breakfast Room (18 x 12) ~
     Maple flooring
     Triple bank of divided light windows
     Designer light fixture
     Recessed can lighting

    Family Room (20 x 15) ~
     Maple flooring
     Stone fireplace
     Two windows set up high on either side of fireplace
     French door with transom with access to deck
     Coffered ceiling
     Recessed can lighting
     Ceiling fan

     
    Mud Room ~
     Oversized slate tile flooring
     Cubby/locker system with granite bench
     Reach-in coat closet
     Direct access to outside and garage

    Powder Room ~
     Designer tile flooring with pinwheel inlay
     Birch vanity
     Stone counter top
     Kohler plumbing fixtures
     Wall sconces
     Picture frame wainscoting

    Den or First Floor Bedroom (17 x 14) ~
     Brazilian cherry flooring
     4-foot high cherry wainscoting
     Coffered ceiling
     Ceiling fan
     Double bank of divided light windows
     Reach-in closet

    Full Bathroom ~
     Porcelain tile floor and shower surround
     Tempered glass shower door
     Sit-down shower
     Maple vanity
     Stone counter top
     Wall sconces

     
    Second Level

    Master Bedroom (19 x 16) ~
     Neutral plush carpeting
     Fireplace with porcelain tile surround
     Vaulted ceiling
     Ceiling fan
     Two wall sconces

    Master Bathroom ~
     Porcelain tile floor, tub and shower surround
     Whirlpool tub
     Shower with rain shower head, hand-held shower head, body sprays and bench
     Natural wood cabinets with full overlay doors and rope detail
     Granite counter tops
     His and her sinks
     Walk-in closet
     Reach-in closet

    Bedroom 2 (14 x 14) ~
     Neutral plush carpeting
     Double bank of windows
     Walk-in closet
     Ceiling fan
     Private bathroom

    Full Bathroom 3 ~
     Private bathroom for Bedroom 2
     Porcelain tile floor and shower surround
     Tempered glass shower door
     Kohler plumbing fixtures
     Maple vanity
     Granite counter top
    Bedroom 3 (14 x 14) ~
     Neutral plush carpeting
     Triple bank of windows
     Tray ceiling
     Ceiling fan
     Walk-in closet
     Private bathroom

    Full Bathroom 4 ~
     Private bathroom for Bedroom 3
     Porcelain tile floor and tub surround
     Maple vanity
     Granite counter top
     Kohler plumbing fixtures

    Bedroom 4 (15 x 14) ~
     Neutral plush carpeting
     Tray ceiling
     Ceiling fan
     Walk-in closet
     Triple bank of windows
     Private bathroom

    Full Bathroom 5 ~
     Private bathroom for Bedroom 4
     Porcelain tile floor and tub surround
     Maple vanity
     Granite counter top
     Kohler plumbing fixtures

    Bonus Room (20 x 12) ~
     Neutral plush carpeting
     Ceiling fan
     Four windows
    Laundry Room (9 x 8) ~
     Upper and lower cabinets
     Pull-down stairs to attic

    Basement (direct outside access)

    Recreation Room (30 x 18) ~
     Multi-level loop carpeting
     Masonry fireplace with traditional mantel
     Recessed can lighting
     4 above-ground windows
     Walk-in closet

    Bar Area ~
     Porcelain tile flooring
     Upper and lower cabinets
     Sink
     Kitchen Aid refrigerator and dishwasher

    Bedroom 5 (13 x 13) ~
     Multi-level loop carpeting
     Above-ground windows
     Reach-in closet

    Recreation Room 2 (29 x 14) ~
     Direct outside access allows you use as a home business area
     Multi-level loop carpeting
     2 window wells
     Recessed can lighting
     2 walk-in closets

    Media Room (14 x 11) ~
     Multi-level loop carpeting
     Recessed can lighting
    Full Bathroom 6 ~
     Porcelain tile floor and shower surround
     Maple vanity
     Granite counter top
     Kohler plumbing fixtures

    Mechanicals/Storage Room ~
     90%-plus efficiency furnace and central air conditioning
     Humidifier
     75-gallon water heater
     Sump pump

    Miscellaneous

    Exterior Features ~
     Brick and stone exterior
     Architectural roof shingles
     Covered porch
     Blue stone walk way
     Professional landscaping
     In-ground sprinkler system

    Schools ~
    All school scores can be viewed online at www.BryanBomba.com
     Elm Grade School, District 181
    http://www.d181.org/schools/elm/
     Hinsdale Middle School, District 181
    http://www.d181.org/schools/hinsdale/
     Hinsdale Central High School, District 86
    http://www.hinsdale86.org/hinsdale_central.htm


     
    Important Link
    Village of Hinsdale: http://www.villageofhinsdale.org


    Thank you for taking the time to consider this home.  The builder would like to thank you as well.  Should you have any questions or concerns, please feel free to contact me at your earliest convenience.  It would be my pleasure to assist you!

    Bryan Bomba
    RE/MAX Elite 
    630.706.7223
    Bryan@BryanBomba.com

    ALL ROOM, AS WELL AS LOT, MEASUREMENTS, ARE APPROXIMATE. ALL INFORMATION PRESENTED HEREIN IS ACCURATE TO THE BEST KNOWLEDGE OF THE LISTING AGENT AND IS PRESENTED ONLY FOR THE PURPOSE OF ASSISTING A BUYER IN MAKING A PRELIMINARY EVALUATION OF THE PROPERTY. IN ARRIVING AT A DECISION TO BUY, THE BUYER IS CAUTIONED TO VERIFY TO HIS OR HER SATISFACTION ANY INFORMATION PRESENTED HEREIN THAT WILL HAVE INFLUENCE UPON THEIR DECISION. NO LIABILITY IS ASSUMED BY RE/MAX ELITE OR THE DESIGNATED AGENT FOR INACCURACIES, ERRORS OR OMISSIONS IN THIS PRESENTATION 04/24/08.

    by Bryan Bomba
    Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
    www.bryanbomba.com | 630.706.7223


    April 27, 2008

    Wealthy Americans See Opportunity In Residential Real Estate Market

    There is a direct correlation between your net worth and how you view the current residential real estate market.

    American Express Publishing Corporation and Harris Group (a consulting company), have released a report this week revealing that the wealthiest of U.S. citizens consider the current conditions of the residential real estate market ideal for buying. These "wealthiest" of Americans have been defined as those have $500,000 or more in annual income. Forty percent of those in this wealthiest group said that it is their intent to purchase residential real estate this year.

    The American Express report breaks down those researched into "wealthiest", "super affluent", "affluent" and "upper middle class". To read the opinions of these other groups, as well as the full text of this report, click here.

    by Bryan Bomba
    Send e-Mail Email Me | Send e-Mail Email to a Friend | Search for Homes
    www.bryanbomba.com | 630.706.7223


    April 24, 2008

    The Cleanest Home In A "Walk To" Neighborhood In Western Springs For Less Than $425,000

    A recent price re-positioning makes this so hard to resist
    Google Map

    To those who know the long-standing history of Western Springs, Field Park has always been one of those neighborhoods where residents just don't leave. Usually, the initial draw is the uber convenient access to downtown Western Springs, the Metra train and Field Park Elementary School (which scores so highly on standardized tests that the school gets more press than the President on some days). Just take a look at the current MLS listing inventory of homes that are just in Field Park.

    For the Field Park lifestyle in a house that is absolutely move-in ready for a price under $425,000, take a look at 3935 Wolf Road in Western Springs. Click on the link below for details. Better yet, contact me for a quick showing.