Home Buying in Vernon Hills>Question Details

Box5phantom, Home Buyer in Vernon, IL

First time home buyer need advise (Around Vernon Hills, IL)

Asked by Box5phantom, Vernon, IL Tue Mar 17, 2009

I am a 1st time buyer and I am single.

--I have noticed that Vernon Hills have more new built townhouse than adjecent areas. Is that a concern for a re-sell in the next 4 to 5 years if I choose a townhouse? Some of the builders are still building new townhomes in vernon hills, which seems to be consistent with the new home builder number for Feb. Why is that?

-- School District. Anyone can share some ideas? It seems district 70 is good. How about 76?

-- Could you share the characteristic,s such as single/married, number of kids, of townhouse buyers?

-- The property tax is very high at lake county, half of which ( 3%) is for the local public schools. This is a good time to get into housing market, but it is hard for me to justify that property tax paid to school district. Is the investment in good school district works for townhouse buyers? The cost about 0.7% of the total house value after tax return per annum

Help the community by answering this question:

Answers

4
As a first time buyer you are asking some great questions many of which have been basically answered through the responses from the other agents. As a Realtor who has lived and focused mainly in the Vernon Hills, Libertyville and Mundelein areas for the last 34 years I have a lot of insight into the history of the Vernon Hills market. There are many positive reasons to live and invest in the area, some of which are it's location to transportation, corporate businesses, retail shopping, highly rated schools, terrific park and library districts. A higher percentage of the real estate taxes has always gone toward the schools in comparison to some other taxing districts. When you compare the programs that are offered, composite ACT scores, percentage of graduates that continue on to college and overall support from the community in relation to other areas, the amount of tax dollars is well worth it to increase or maintain the value of a property. If you would like to discuss this further, please feel free to contact me at your convenience. It would be a pleasure to help.

Thank you,
Al Aronow
RE/MAX Suburban
847-557-8501
0 votes Thank Flag Link Tue Mar 17, 2009
You've got a lot of great questions and I hope the answers others have given are helpful. If you'd like to go through the market analysis on townhomes in the Vernon Hills areas as compared to others I''d be happy to do that with you. I could also answer many other questions in person that would simply take too long to answer via text. If you'd like a free March 2009 Report on Vernon Hills Townhome Prices, just call or message me back with an address where I can send that. My number is 847-557-1622 or MStodola@ksgmac.com

Good Luck!
Mike
0 votes Thank Flag Link Tue Mar 17, 2009
Dear Box5phantom,
There is a major townhome project in works in Vernon Hills now - Aspen Pointe. There's one more project - Greenleaf townhomes - north of Rte.60. Vernon Hills is still very attractive and townhome prices are now down to more affordable ones. Builders need to sell so you can get a real bargain now.
I don't see any problem - the market will balance itself in a year or two. There is an oversupply of real estate everywhere, including Vernon Hills, but Vernon Hills remains very attractive to buyers due to good schools, shopping, developed infrastructure etc.
As for schools - as a real estate pro I can't discuss any demographics, but I urge you to research on the web. Go to http://www.greatschools.net or any other website that provides school stats.
I can only tell you that school district 70 is Libertyville district and district 76 is Diamond Lake district.
Even though some areas are messed up, most of Vernon Hills does not belong to these districts.
Vernon Hills school districts are 73 Junior and 128 High School and they are considered excellent.
There is a cost to everything and taxes in Lake County are high indeed.

I can help you find a home. I've been living and working in the area for quite a while so I know the market perfectly. I will help you find balance and invest your money in a good property. We could also research Cook County for you or any other area.
Please get in touch with me! All buyers I work with will receive a 1% of the purchase price bonus towards closing costs. I will also help you with mortgage preapproval at no cost if needed.

Best Regards,
Peter Schifrin
Realtor®
Express Real Estate Group, Inc.
cell. 847 630 6843
pschifrin@gmail.com
0 votes Thank Flag Link Tue Mar 17, 2009
Unfortunately realtors are not allowed to give their opinion on schools but here is great website to compare schools in Ilinois http://iirc.niu.edu/ so you can see what precentage of the students met governmental standards in each school.
Here is a link to see demographics for Vernon Hills http://www.city-data.com/city/Vernon-Hills-Illinois.html

If you aren't working with a buyers agent I would love the opportunity to help you find a home. There is no fee to you as the buyer (the listing agent shares their commission with the agent who brings them a buyer) It really does make a huge difference when you have an expert in the area to help you with all of your questions.

Please call or email me so we can discuss the Vernon Hills area further = )

Kathy Diegel
Coldwell Banker
Kathy.Diegel@cbexchange.com
847-707-8907
0 votes Thank Flag Link Tue Mar 17, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer