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Market Conditions in Lake County : Real Estate Advice

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  • Local Info2
  • Home Buying8
  • Home Selling2
  • Market Conditions1

Activity 35
Mon Apr 29, 2013
Geoff Ommen answered:
Would you like to know more about this community or property? If so, feel free to contact me.

Geoff Ommen
Broker - Baird & Warner
847-271-2622
geoff.ommen@bairdwarner.com
www.geoffgetsit.com ... more
0 votes 5 answers Share Flag
Sat Jan 19, 2013
John Walin answered:
Patricia
That house is temp off market since July 11th in the MLS. The HOA is $165/month. The last asking price was 375k. Realtytrac posts as available homes that the bank has recorded a notice of default. or maybe the listing agent has a short sale contract and is using temp to kill showings until bank approval happens.

Below i copy & pasted from MLS.

Detached Single MLS #: 07943088 List Price: $375,000
Status: TEMP List Date: 11/11/2011 Orig List Price: $380,000
Area: 44 List Dt Rec: 11/11/2011 Sold Price:
Address: 12817 Sanctuary Ln , Lake Bluff, Illinois 60044
Directions: WAUKEGAN N OF RT 176, E ON ATKINSON TO SANCTUARY N2 HOME
Sold by: Lst. Mkt. Time: 309
Closed: Contract: Points:
Off Market: 07/11/2012 Financing: Contingency:
Year Built: 1994 Blt Before 78: No Curr. Leased: No
Dimensions: 72X97X41
Ownership: Fee Simple Subdivision: Sanctuary Model: Prairie
Corp Limits: Lake Bluff Township: Shields County: Lake
Coordinates: N:29 S: E: W:12 # Fireplaces: 1
Rooms: 7 Bathrooms (full/half): 2 / 1 Parking: Garage
Bedrooms: 3 Master Bath: Full # Spaces: Gar:2
Basement: Full Bsmnt. Bath: No Parking Incl. In Price: Yes



Remarks: IMMACULATE 3 BEDROOM/2.1 BATH HOME IN THE SANCTUARY OF LAKE BLUFF!! PREMIUM LOT BACKING TO WETLANDS! NATURAL HARDWOOD FLOORING THROUGHOUT THE FIRST FLOOR! 2-STORY FOYER, LIVING ROOM & DINING ROOM!! KITCHEN WITH COMBINED EATING AREA HAS SLIDER TO LARGE PRIVATE DECK! MASTER SUITE WITH BEAUTIFUL VIEW OF WETLANDS & PRIVATE BATH WITH JACUZZI TUB! 2 GUEST BEDROOMS SHARE HALL BATH! FULL UNFINISHED BASEMENT! SECURITY SYSTEM!

School Data Elementary: Lake Bluff (65)
Junior High: Lake Bluff (65)
High School: Lake Forest (115)
Other:
Assessments
Amount: $165
Frequency: Monthly
Special Assessments: No
Special Service Area: No
Master Association: No
Tax
Amount: 5,234.67
PIN: 12181010590000 (Map)
Mult PINs:
Tax Year: 2011
Tax Exmps: Homeowner
Miscellaneous
Waterfront: No
Appx SF: 2137
SF Source: Assessor
Acreage: 0.13
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Sat Jun 2, 2012
Gary Geer answered:
0 votes 5 answers Share Flag
Fri Oct 11, 2013
DELETEMike and Sara answered:
I would need more information to estimate a value. How many bedrooms, baths, garage, basement, and improvements to give you a rough estimate. For a more reliable value, I would need to see the home. The location and condition can really impact the price. Do you own the home? ... more
0 votes 2 answers Share Flag
Mon May 7, 2012
Gary Geer answered:
Nancy,
You can check the assessed values at the county assesors web site or contact me with an address and I can get the information for you.

All the best,

Gary Geer

www.ggeer.illinoisproperty.com ... more
0 votes 4 answers Share Flag
Mon Apr 23, 2012
Kklayden617 answered:
Prices tend to increase or at least stabalize in the summer months as buying increases and average time on the market decreases. If you are thinking abour listing a home, do it in the Spring or Summer. If buying, prices are better in the winter. These are general market trends and your experience may be different. ... more
0 votes 5 answers Share Flag
Fri Sep 16, 2011
Patrick Thies answered:
Are you asking when will sellers see an increase in property values? I think that we still have a way to go yet. Things need to plateau for a while first and I don't think we have seen that yet. The number of sales in the Chicago area have increased, but most of the area has still seen a drop in value. Some areas are up however.

The Chicago Tribune tracks the areas and shows the median prices and whether those values are up or down from the previous year. You can find it in the real estate section in Sundays paper. They target different counties every week.
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0 votes 6 answers Share Flag
Wed Nov 18, 2009
Coleen Grenier answered:
Hi Seebuckrun,

There are many areas of Barrington that you could be looking in for lots. There is South Barrington, North Barrington, and Lake Barrington. I'd be happy to send you some exact locations if you are interested. I can narrow your search further to sub-divisions ie/ Biltmore, Tower Lakes, etc.

Feel free to contact me any time at coleen.grenier@bairdwarner.com
And thanks for your question!
... more
0 votes 4 answers Share Flag
Tue Oct 13, 2009
Edith Karoline Jasser answered:
Hi Ka,
I am not sure you want just specifics as far as Fox Lake is concerned or the general explanation what an average list price and a median Sales price is will help....

Let me try to make it as simple as I can make it...

The Median Sales Price is the midpoint between the most expensive house and the least expensive house sold in an area during a specific time. The midpoint of the price of homes - equal number of properties sold above the median price and an equal number of properties sold below the median price. Therefore the Median Sales Price is often used as a tool for where the real estate market is going, trend, strength etc.

The average List Price is more simple: Take the number of properties you are looking at, add up their total list prices and then divide that number by the total number of properties. The result will be your average sale price for that particular search.

And forgetting average and median, there will always be a difference between the average list price and the average sale price, that average difference is the % that Buyer and Seller negotiate to get to the final sale price.

I hope this helps.... If you are working with a Fox Lake Realtor who is your listing agent, he or she will be able to explain to you your particular situation versus the Fox Lake market.

Good Luck to you!
Edith Karoline YourRealtor4Life!
Working always in the very BEST interest of her clients....
EdithSellsHomes@gmail.com
Covering the city of Chicago, the North Shore and most if not all N and NW suburbs
... more
0 votes 3 answers Share Flag
Mon Jun 3, 2013
Peter Schifrin answered:
Just like almost everywhere else in Illinois...
Peter Schifrin
Realtor®
Express RE Group, Inc.
847 630 6843
0 votes 13 answers Share Flag
Mon Aug 17, 2009
Don Hawley, CDPE answered:
Nicola, will the market get better soon seems to be the million-dollar question. The short answer is as long as government keeps interfering in the natural lifecycle of free market corrections then I wouldn't count on it. What I would recommend is to let someone manage the property for you. If you wish, I can send you more information. Feel free to contact me at 847-668-2811 or by email at don.hawley@reit-homes.com

Don
... more
0 votes 1 answer Share Flag
Tue Jun 23, 2009
Sandersroa asked:
Questioning recent appraisal using cost approach. In 2006 the cost per sq foot on our appraisal to purchase the home was $100/sqft. We recently got an appraisal and it has the cost p...
0 votes 0 Answers Share Flag
Fri Oct 8, 2010
Kathy Diegel answered:
There is no way to know how much the current prices in Prairie Trails will fall. Unfortunately, you will not know when the bottom has been hit until the prices start to go up again. That being said, the sellers do not know when we will hit bottom either, so most sellers will entertain lower offers. If you are thinking of a particular property in Prairie Trails, let me know via email the address and I can recommend a starting offer for you based on the most recent sold comparables in Prairie Trails and the surrounding subdivisions.

Kathy Diegel
Coldwell Banker
Kathy.Diegel@cbexchange.com
... more
0 votes 2 answers Share Flag
Wed Oct 8, 2008
Brandon Schuppe answered:
The "mediam" price:
2006 was $972,500
2007 was $1,201,000
Year to date in 2008 is $1,050,000
0 votes 1 answer Share Flag
Mon Oct 6, 2008
Mike Stodola answered:
I'd love to answer all your questions here but we have a whole marketing plan for any rental properties we represent and manage. As far as the rental market goes for a two bedroom home in Highland Park the range is pretty big. you have several competitors offering their homes for anything from $1,000 to about $1,600 a month. A lot obviously depends on the location, size and condition of the home. I'd be happy to give you a free, no obligation 'Pinpoint Price Analysis' that would only take about 15-20 minutes of your time if you'd find that helpful. At the same time I could give you ideas about marketing as well as show you our marketing plan for rentals should you decide to hire a real estate agent to get your home rented for you. For your information we also do property management for clients who don't want the hassles of rent collection, tenant screening, maintenance etc... Please feel free to give me a call or e-mail at 847-557-1622 or MStodola@ksgmac.com

Thanks and good luck!
Mike Stodola
... more
0 votes 1 answer Share Flag
Sun Mar 31, 2013
Greg Anderson answered:
The Fields of Ambria was always known to have excellent/above market value, but lately the prices have plummeted over there. Cambridge West has always been a very stable subdivision (not as high in market value) and not as expensive as some of the bigger homes in The Fields of Ambria. I believe that most (if not all) of the homes in Cambridge West have Vernon Hills elementary and junior high schools and Vernon Hills High School, so the demand continues to stay strong. Cambridge West subdivision is also closer to the expressways and the 3 METRA stations (Vernon Hills/Mundelein/Libertyville), so the demand for commuters is also better than average.

In summary, you can probable get a very good deal in Ambria (lower prices compared to several years ago), but the least risky investment would be in Cambridge West.

I hope that answers your question. Feel free to contact me with any other assistance I can provide.

Sincerely,

Greg Anderson
... more
0 votes 2 answers Share Flag
Fri Sep 12, 2008
Laura Cannon answered:
I would love to hear what other agents and consumers think, but to get us started, I wrote a short post on the Trulia 60010 blog. Check it out and let me know your thoughts.
0 votes 1 answer Share Flag
Tue Aug 12, 2008
Paul Mackey answered:
The question will be much easier to answer until after the election. markets will be more of less status quo until they feel they know what policies and nominees are in store. Either way I feel the winter will be slow no matter who wins. ... more
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