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.
Express Real Estate Group, Inc.
cell. 847 630 6843
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 = )