Arlington Heights, IL Real Estate and News

Arlington Heights Condo Site

2008-10-20T14:40:00.003-05:00

A new site dedicated to Arlington Heights Condos has been launched. This site will include details about each condo neighborhood that is larger than 40 units. The reason for the cut off is that there is not reliable information to be gathered about many of the smaller communities.

Information will include photos, number of units, amenities, if there are garages, size of units, and more. Market data about these neighborhoods will include closed sales, number of active listings, number of pending listings, and more.

The goal is to provide an in depth look into each condo community to allow buyers to make an informed decision. ArlingtonHeightsCondos.com will also provide sellers the opportunity to market their home directly to highly interested buyers. Listing from Suburban House Hunters Team will all be featured on this site and featured listing packages for By Owner sellers will also be offered.

Take a look at the page for Mallard Cove Condos in Arlington Heights for an example of the information that will be provided. There is also a market update for Mallard Cove posted to help show the type of market information.

For all your Arlington Heights condo needs visit ArlingtonHeightsCondos.com.

Arlington Heights Market Update 9-29-08

2008-09-29T12:29:00.003-05:00

The above chart shows the months of inventory at the end of each month. As you can see as of the end of Aug there was 13.6 months of inventory for single family homes in Arlington Heights. This is down slightly compared to last year during the same month from 14 months of inventory.

Ways to save a few bucks each month

2008-08-27T10:43:00.002-05:00

Everyone can use a few extra dollars each month with prices for just about everything increasing much faster then wages. Found this post about Money Saving Tips for around the Home and thought it was worth sharing.

Here are a few other tips that are pretty easy for saving money while driving.

- Make sure your tires have proper tire pressure

- Remove any extra weight from your car, check the trunk for starters

- Make sure you are using the correct gas octane that your car calls for

- This one will seem silly, but make sure your car is clean. Dirt increases friction/drag and thus reduces your gas mileage.

- Roll up the windows when at high speeds. Leaving your window open increases drag and kills your gas mileage.

- Never thought I would support this idea, but slow down. Higher speeds use more gas then lower speeds. More important is accelerate a little slower and you can see large savings for your city driving.

Hope these few tips help save you a few dollars.

Arlington Heights Market Update (6/18/2008)

2008-08-04T00:11:00.002-05:00

In Arlington Heights Illinois there are currently 463 active listings (20 lower then June) for single family homes with prices ranging from $199,900 for a tear down on Arlington Heights road up to $1,895,000 for a 5 bedroom 5 1/2 bath home. There are 64 homes that are under contract and over the past 90 days 95 homes have closed.

A decrease in inventory by 4.1% from June 18th is a good sign that the market is starting to stabilize. An increasing number of buyers are starting to feel this is the "bottom" and are starting the home buying process. If you are thinking about buying a home in Arlington Heights take advantage of the current "Buyer's Market".

Quality homes in good condition that are priced correctly and are properly marketed are still selling. If you are thinking of selling a home in Arlington Heights put the real estate team with the best internet exposure to work for you. Contact the Suburban House Hunters Team today and ask them to show you why they are one of Arlington Heights' top real estate teams.

Arlington Heights Market Update (6/18/2008)

2008-06-18T15:30:00.002-05:00

In Arlington Heights Illinois there are currently 483 active listings for single family homes with prices ranging from $230,000 up to $1,895,000. There are 94 homes that are under contract and over the past 90 days 75 homes have closed.

Currently there is an increase in activity that appears to be a sign of the market leveling off. If the trend continues we expect home prices to level off and the market to become more "normal".

If you are thinking about buying a home in Arlington Heights take advantage of the current "Buyer's Market".

Arlington Heights Rentals

2008-05-02T16:47:00.002-05:00

The Suburban House Hunters Team has added rental services to their residential real estate services menu. So if you are looking for a rental in Arlington Heights Illinois make sure to visit their site.

Rentals can include apartments, condos, townhouses, or single family homes. Many people don't realize that they can hire the services of a real estate professional that will have access to rentals. The real estate agent will be able to save the customer time and many time money as they are willing to negotiate for their client. The reason a real estate agent will be able to negotiate a better deal is they are an independent party. They will never live in the home or deal with the landlord again so they can be more aggressive then most renters will be.

Best of luck with your rental search.

Arlington Heights on Squidoo

2008-03-05T02:24:00.004-06:00

Squidoo is a website that anyone can create a page on. This page (lens) can cover just about any topic and allows users to generate all of the content. We created a lens about Arlington Heights Illinois and figured it was worth sharing. Feel free to leave a comment and let us know if something should be added.

Condo Development Details and Map Search

2007-12-02T21:45:00.001-06:00

SuburbanHouseHunters.com is in the middle of adding a map search to their main Arlington Heights Condo Guide. They are also adding detailed information on condo developments. These details include price ranges, type of condos available, parking arrangements, amenities, and more. Make sure to check out this new feature.

Details about some Condo Developments:

Campbell Courte Condos - 200 W Campbell
Parkview Condominiums of Arlington Heights - 212 N Dunton
Village Green Condos - 44 N Vail
Wing Street Residence - 151 W Wing Street

Anyone interested in other developments can go to the contact page on the Suburban House Hunters site as the information is already compiled, just not uploaded to the web.

Quick market overview

2006-12-15T16:24:00.000-06:00

The graph to the left shows the number of homes on the market (red), the number that are under contract (blue) and the number that closed that month (green).

The trend that is shown in this graph shows that there is an increasing inventory in Arlington Heights. Seller have been feeling this for some time now as market times have increased. The average days on market has gone from 42 in Nov '05 to 64 in Nov '06. This is a 50% increase in the time it will take for your home to sell.

Now on the flip side things are actually not all that bad. These numbers don't look good comapred to the last couple of years, but in reality they are not all that bad. We are still seeing average home prices increase and homes that are priced correctly are still selling.

Visit Suburban House Hunters if you would like to know more about the Arlington Heights real estate market.

Condos - Wing Street Residences

2006-12-04T14:53:00.000-06:00

151 W Wing Street otherwise know as Wing Street Residences is a 9 story building in downtown Arlington Heights. Condos in this build range from simple 1 bedroom 1 bath homes up to a penthouse unit that is 2 bedrooms, 2 1/2 baths, 2200 sq feet, and has 2 balconies.

The buildings assement fee includes your heat, water, gas, parking, security, doorman, exterior maintence, trash, and snow removal.

With only a short walk to the train, resturants, shopping, and more the location of this building is hard to beat. For more information about this building and what units are currently for sale visit SuburbanHouseHunters.com.

Market update

2006-08-04T13:30:00.000-05:00

For information about the Arlington Heights real estate market take a look at this Arlington Heights Blog post. You will see what is on the market, what is sold in the last 90 days, and what is currently under contract. For more details about the Arlington Heights Real Estate market feel free to visit this Arlington Heights real estate website.

Real Estate Team

2006-06-24T07:28:00.000-05:00

The Benefits Of Working With A Real Estate Team

When you work with a real estate team instead of an independent realtor you’ll find that the process is streamlined, making it much more enjoyable for you. When you are constantly trying to hunt down a realtor to have simple questions answered and you have to force the process along, you aren’t getting all that you could from your real estate experience. A real estate team works because they have a professional that deals with each specific process so that every question is answered for you in a timely fashion. While working with a realtor is more beneficial than trying to sell on your own, working with a real estate team will provide you with even more benefits.

One of the biggest reasons that you might want to consider working with a real estate team instead of an individual is that you will get more attention. Many realtors are simply over worked, because like everyone else they are trying to make a living. You might have a simple question about what to expect at an inspection or closing, but an individual may not have the time to answer your question for a few days when you deserve an answer right away. A real estate team will likely have someone that will be able to answer your question just about any time during business hours. This means that you have less time to stress and grow frustrated over the process because you’ll know exactly what to expect, whether you are buying or selling. More attention is a good thing when you are looking to buy or sell real estate, because it means someone really understands who you are and what you want to get out of the situation. If personal attention is what you are looking for, working with a real estate team is definitely the best option for you.

One great thing about working with a real estate team is that you are working with people that have an intimate knowledge about your neighborhood or the neighborhood in which you would like to buy. Many individual realtors try to help people buy and sell in neighborhoods that they know nothing about, but because there are more man hours involved with a team, if they don’t know the neighborhood they certainly have the ability to research it and help you sell your home for top dollar or buy the home of your dreams for the best possible price. When you are working with a realtor you want to work with someone that knows more than you do, and a team can provide this as they have the combined experiences and resources of each member on the team to make sure that you get the service and information you expect on all aspects of your buying and selling process. A knowledgeable, friendly, and helpful team will always be the best choice for those that want to work with realtors that really know their stuff!

Probably the most important benefit to home buyers and sellers that work with a real estate team is their ability to get the job done in a very efficient manner. Real estate teams are able to delegate responsibility so that more than one thing is able to happen at a time. This means that you can buy or sell a home in much less time because you don’t want to wait for one person to do all the work. With professionals qualified to do many different tasks, real estate teams really streamline the process for buyers and sellers, making the process that much more enjoyable. Buying a home is a big step, but it doesn’t have to be unnecessarily slow or stressful when you work with a real estate team that can help you get the job done in record time.

Working with a real estate team is simply a wise choice if you want all of the best help and information that can get you through the buying or selling process as simply and as quickly as possible. Buying and selling should be a pleasant experience, and when you work with a professional real estate team you’ll have the burden taken off you by people that can and want to do the job for you.

Thanks to www.HoffmanEstatesCondos.com for the article.

Finding A Home That Is Right For You

2006-04-17T15:56:00.000-05:00

Buying a new home or real estate is exciting, but it can also be a bit stressful because it is a big step, especially if you’ve never purchased a home or real estate before. Before you contract a realtor there are several things that you should really consider so that the search for your new home will be a lot more fun and a lot less stressful. When you know what you want and need you can then direct your realtor of choice to help you find the house that is out there waiting for you.

Determine Your Needs
The first thing you need to do is determine what you personally need from a home. For instance, if you have a family of six you probably aren’t looking for a one or two bedroom home. Decide how many bedrooms you need as well as how many bathrooms would be desirable. Consider whether you can deal with more or less of either bedrooms or bathrooms. Also think about what type of yard you’ll want around your house. If you have a big dog, you may consider a big yard a necessity. Do you desire a specific type of floor plan? If you don’t want stairs or you do want that second story that you have been dreaming of these are all things that you should write down on a list. You should also consider overall square footage. Many families simply need more space to spread out, and that’s understandable, while others are looking to decrease the size of their homes after the kids leave! Really determine what your needs are so that you will be able to convey them to your realtor.

Pick Your Location
It can be difficult to determine where you want to live if you are relocating to a new area, but if you have an area of town picked out where you absolutely know you want to live, that will help your realtor do his or her job much more efficiently by searching for your needs and wants in a specific area of town. Location can also be important from a resale point of view because you want a home that will gain value, not lose value. It’s a good idea to not only consider how close a certain neighborhood is to work and school and the grocery store, but how wise of an investment it is as well. If you aren’t sure about location, a good realtor can always help you determine where the best place in town will be for you.

Know Your Finances
Now that you have determined your needs and where you want to live, you need to take a close look at your finances. Of course, this may seem like it should be the first step, but unless you know what you need it will be hard to determine if it will fit into your budget. Look at what you are paying now and determine if you want that to stay the same, be reduced, or if you can afford to pay more. Now, will the dollar amount that you want or need to pay each month for your mortgage mesh well with what you want from a home and where you want it? If so, you might want to look into getting pre-qualified for a home loan to streamline your house hunting process.

What You Want
Now is the fun part, you can think about what you want. Do you really want air conditioning? Do you want a pool? A fireplace? A wet bar? An upgraded kitchen? A spa tub in the bathroom? Make a wish list of the things that you would be thrilled to find in a home that is the right price, has the appropriate number of bedrooms and bathrooms, and is in the right part of town. This will help your realtor show you homes that you will enjoy seeing and could really see yourself in.

Get a Realtor
Now it’s time to find yourself a realtor and give him or her a list of all the things that you really want and need from a home. All of your planning will make your realtor’s job much easier and will also ensure that you are on the same page and make sure your time looking at homes is very well spent.

Buying a home is something that takes some planning, so try to be patient as you put all the pieces of the puzzle together for yourself and your realtor. The more you know what you want or need, the more smoothly the process will run, getting you into your new home sooner.

Things to Consider When Purchasing Real Estate

2006-01-07T15:24:00.000-06:00

The real estate market is currently booming nationwide and for this reason more and more individuals are looking into buying a home. As the purchase of a home is a major decision and the largest purchase you may ever make there are a few things that prospective homebuyers should look for in their journey to finding the perfect home.

Area Where the Home Is Located
Perhaps one of the main factors that should be considered when purchasing a home is location, location, location. Where the home is located is an extremely important aspect to the home and whether you want to make an offer. Various factors such as safety, adequacy of schools and location of nearby amenities are all things which relate to the location aspect. For this reason, it is best to start the search for potential real estate by narrowing down a specific area where you would like to buy a home. This will also help to narrow down one’s options with regard to homes for sale.

Price of the Home
As many individuals have a set amount of money they are able to spend for the purchase of a home, it is beneficial to know exactly what price range their potential real estate purchase will fall into. By having a set number in mind, the prospective homebuyer can narrow down their options and only look at those homes which they can afford. Looking at homes out of one’s price range is not only a waste of time but it is a bit of a temptation as well. When buying a home, one wants to be sure that they will be able to afford the mortgage payments once the house is purchased. Because of this potential homebuyers might consider getting a pre-approved mortgage so they know for sure their budget and the price of homes to shop for.

Size of the Home
Another way to narrow down the choices which one faces when it comes to home buying is to have a specific size in mind when it comes to the home. For example, if an individual is looking for a house that has 2 bedrooms and 2 baths, there is no need to waste time looking at 1 bedroom condominiums. Having an approximate size in mind when looking for a home is a wonderful way to specify one’s desired options when it comes to square footage and number of rooms.

How Long the House Has Been On the Market
A great indicator to look at when viewing homes for possible purchase is how long they have been on the real estate market. This will tell the prospective homebuyer a few different things including condition of the home, price of the home and flexibility of the current owners with regard to the sale. This is a great way to get a feel for the overall situation surrounding the house.

Buying a new house is a wonderful and exciting adventure to embark on. Frequently one will get overwhelmed with all of the details that go into this somewhat arduous task. However, by keeping the previously mentioned factors in mind, one may be better able to prepare themselves for the journey which lies ahead in the great world of real estate purchase.

Written by Ken Smith. Ken Smith is the owner and team leader of the Suburban House Hunters Team and also has started a blog of resources for REALTORS.

Arlington Heights Housing Bubble

2005-12-26T17:48:00.000-06:00

Is Schaumburg IL running the risk of a burst in the "housing bubble"?

First off I would say there isn't a true housing bubble as that would mean that nationwide there would need to be a drastic price reduction across the whole US housing market. This will not happen as housing is a local market and not al areas have had the huge runup in prices. Some cities might be in trouble, but not in the Chicagoland area.

The Chicago Metro area is still one of the most affordable major metro housing markets in the United States. Chicago metro area is also expected to have a strong job growth that will bring more workers to the area that will need housing over the next decade.

For an interesting read about the "housing bubble" in many of the US's major markets take a look at NAR's research.

Written by Ken Smith or the Suburban House Hunters Team

NAR Relief Fund

2005-09-08T23:25:00.000-05:00

NAR (National Association of REALTORS) has a fund to help the victims of Hurricane Katrina. On top of covering all admin costs the NAR has also kick started the fund with $1,000,000. Please read the below qoute from NAR's site:

"All administrative costs of the project will be absorbed by NAR; 100 percent of all donations will go directly to aid the victims. Contributions can be made online through the following secure site powered by NAR’s e-commerce system: https://www.realtor.org/relief. Contributions are tax deductible. To make contributions by mail, checks should be made payable to the REALTORS® Relief Foundation and sent to: REALTORS® Relief Foundation, Attn: NAR Finance Division, 430 N. Michigan Ave., Chicago IL 60611."

Thank you for your support!

Free Credit Reports

2005-08-15T00:39:00.000-05:00

Once every 12 months consumers can receive from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion a free copy of their credit report. This report will show all open credit lines, paid lines from the last 7 years, negative items (Will be posting on how to dispute these items later), any time that your credit has been pulled in the last 12 months, and your personal information.

It is very important that consumers review their credit report every year to make sure that there aren't any errors. Most reports have at least one error on it, this may be minor like a incorrect address or it could be major like a credit card that isn't yours with missed payments. Take the time to order your free report today at this site (free credit reports).

Remember these reports are what creditors use to decide how high or low your interest rate will be and now insurance companies are using it as a factor for your insurance rates.

07/19/05 Market Update

2005-07-19T15:49:00.000-05:00

Currently there are 280 single family homes listed and 79 of those have a contract on them, leaving only 201 homes on the market. These homes have a price range of $299,000 up to $1,750,000. There are currently 13 homes listed over $1 million.

Of 277 attached (condos and townhomes) homes listed only 182 don't have a contract on them. The price range for these homes is from $95,000 all the way up to $795,000.

These number show a big slow down in sales of homes. The market is still on the seller's side, but it is not even close to as brisk as it was last year. With the expected rise in interest rates we can expect sales to slow even more.

You can search the Arlington Heights MLS if you would like more details about real estate in Arlington Heights.

05/05 Real Estate Update

2005-05-05T19:15:00.000-05:00

Sorry about the long gap between posts. The spring market has picked up and homes are selling at a quick pace.

Currently there are 271 single family homes listed and 122 of those have a contract on them, leaving only 149 homes on the market. These homes have a price range of $289,000 up to $1,400,000. There are currently 8 homes listed over $1 million.

Of 249 attached (condos and townhomes) homes listed only 154 don't have a contract on them. The price range for these homes is from $95,000 all the way up to $1,595,000.

You can search the Arlington Heights MLS if you would like more details about real estate in Arlington Heights or you can visit here.

Arlington Heights Real Estate Update

2005-03-03T14:28:00.000-06:00

Arlington Heights real estate market update for 03/03/05.

There are currently 211 single family homes listed on the MLS with a price range of $270,000 up to $1,249,000. Of the 211 homes currently listed 64 of them are currently under contract. This leaves 147 single family homes available in all of Arlington Heights, IL.

Attached homes are either condos, townhomes, or coach homes. There are 227 attached homes on the market with a price range of $89,900 for a 1 bedroom condo up to $849,600 for a luxury 2 bedroom 2 and 1/2 bath two story 3600 square foot penthouse condo. 66 of these listed homes are under contract as of today and that leaves 161 attached homes that are available.

These numbers show that Arlington Heights is still in a sellers market and that homes prices look like they will continue to rise during the spring market that is about to start. For more detailed information about Arlington Heights, IL visit SuburbanHouseHunters.com.

Mayor Arlene Mulder is unopposed...Again

2005-02-02T10:19:00.000-06:00

Mayor Arlene Mulder is unopposed for re-election for the third straight time. As the deadline for Arlington heights residents seeking public office has passed Mayor Mulder has been assured a forth term.

Mayor Mulder is a 35-year Arlington Heights resident and served two years as a village trustee and three terms as president of the Arlington Heights Park District Board before becoming mayor in 1993. Since then, she won re-election in 1997 and 2001 running unopposed.

Board OKs a fifth TIF

2005-02-02T10:03:00.000-06:00

In January Arlington Heights formed a fifth TIF (redevelopment) district at the Village Board meeting. The boundaries for the tax increment financing district were set in a 6-2 vote, with trustees Joseph Farwell and Bert Rosenberg opposing the decision.

The goal of the TIF is to improve two struggling shopping centers, Town and Country, and Southpoint.

Some trustees questioned if Arlington Heights should form another TIF district. Trustee Helen Jensen felt that it would be wrong for the village to assist redevelopment of the commercial area if condominiums are eventually made part of the plan. Trustee Farwell said forming a fifth TIF district, after the recent creation of a fourth, might force developers to question which redevelopment area presents the "sweeter deal." Farwell also said he wasn't comfortable moving forward with the TIF Monday because no specific plan was before the board.

Anthony Visconsi II of Visconsi Companies Ltd., which owns Town and Country mall, said leases for three Town and Country spaces, each for properties in excess of 35,000 square feet, could be signed within a month, if the village approved TIF financing for the project.

In the same meeting the board also approved amending the village's comprehensive plan for a portion of Southpoint shopping center, some designated for commercial and some for parks use, all to a "mixed use" designation.

Local Links

2005-02-01T17:16:00.000-06:00

This is a quick list of Village of Arlington Heights links that may be of use to everyone.

Village of Arlington Heights
Arlington Heights Park District
Arlington Heights Pools
Youth Athletic Association
Teen Center
Senior Center
Public Library
Arlington Heights Schools
Historical Museum
Arlington Race Track
Metropolis Theater
Arlington Theater

Welcome

2005-02-01T17:03:00.000-06:00

This Blog has been created to keep the residents of Arlington Heights informed of what is going on in our town. Please bookmark the sight as news will be posted on a regular basis.

What will you find on this blog? Anything from garages sales to public hearings. We intend on providing as much current information about the town as time permits. Feel free to e-mail your friends about this blog and please link to us if you have your own site.

Local business owners or residents feel free to e-mail us at ahblog@yahoo.com. Let us know of any special events, grand openings, or anything else that local residents may find of interest.