Elmhurst real estate blog

Elmhurst & DuPage County Illinois

Thomas Makinney

Blog

Displaying blog entries 1-10 of 697

Elmhurst Open House List for Feb. 17 & 18

by Thomas Makinney


823 S. Washington, Elmhurst

Sunday, 1:00-3:00 PM

285 N Larch Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$310,000

956 S Spring Rd

Elmhurst

02/18/2018

1:00-4:00 PM

$324,500

207 N West Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$369,900

963 Chatham Ave

Elmhurst

02/18/2018

1:00-4:00 PM

$449,900

818 S Hillside Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$479,000

310 S Chandler Ave

Elmhurst

02/17/2018

12:00-2:00 PM

$539,900

342 E Laurel Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$584,900

823 S Washington St

Elmhurst

02/18/2018

1:00-3:00 PM

$650,000

15W474 Lexington St

Elmhurst

02/18/2018

10:00AM-2:00 PM

$659,900

147 S Poplar Ave

Elmhurst

02/18/2018

11:00AM-1:00 PM

$689,900

924 S Chatham Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$819,000

249 N Maple Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$889,900

749 S Fairview Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$894,800

141 N Caroline St

Elmhurst

02/17/2018

12:00-3:00 PM

$949,900

141 N Caroline St

Elmhurst

02/18/2018

12:00-3:00 PM

$949,900

140 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,129,000

148 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,139,000

148 Joanne Way

Elmhurst

02/18/2018

11:00AM-4:00 PM

$1,139,000

245 N Berteau Ave

Elmhurst

02/18/2018

11:00AM-2:00 PM

$1,150,000

445 E Crescent Ave

Elmhurst

02/18/2018

1:00-3:00 PM

$1,200,000

136 Joanne Way

Elmhurst

02/18/2018

11:00AM-4:00 PM

$1,269,000

136 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,269,000

236 E South St

Elmhurst

02/18/2018

1:00-3:00 PM

$1,289,000

128 Joanne Way

Elmhurst

02/18/2018

11:00AM-4:00 PM

$1,529,000

128 Joanne Way

Elmhurst

02/17/2018

11:00AM-4:00 PM

$1,529,000

662 S Sunnyside Ave

Elmhurst

02/18/2018

1:30-3:30 PM

$1,549,000

Timothy Christian high schoolers “Renew” their interests

by Thomas Makinney

Each year after Christmas break and before the start of the second semester, Timothy Christian high school students have the opportunity to explore the world around them outside (and inside) the classroom.

Renew is an eight-day program that allows students to participate in unique, interest-based classes not held during the academic year, go on a discipleship or mission trip, or arrange unpaid internships in their areas of interests.

This year’s offerings provided a wide range of opportunities. Students who had followed recent natural disasters were able to study how communities prepare for disaster relief and then do outreach work exploring real-life situations. They served at food depositories, and partnered with blood drives, clothing drives, and charity fundraisers to learn the hands-on aspects of serving.

Some students served at various ministry organizations in Chicago to learn about the needs of the homeless or the issues facing immigrants. They served in a food pantry and at lunch with clients at a homeless shelter. Some students went to New York for a similar experience that involved tutoring young children.

Juniors and seniors have the opportunity to arrange for an unpaid internship in an area of interest, such as in a hospital or business setting.

But the program also held relevant programs that focused on individual enrichment. Students could learn golf or rock climbing; they could explore a facet of WWII or learn about religions outside of Christianity. They could get exposure to careers in education, journalism, and fashion or study creative writing, drawing, or film.

The program has been in existence since 2015 and strives to expose TC students to people or ideas that they wouldn’t necessarily learn about or be exposed to otherwise. 

Both Timothy Christian staff members and external members of the community teach the classes. Any businesses or professionals who are interested in hosting students or offering shadowing opportunities next year should email Tyra Bone, Renew coordinator, at bone@timothychristian.com.  

We’re proud of the many educational opportunities that schools in Elmhurst offer, and Timothy Christian is no exception. By thinking outside the box, students gain an invaluable exposure to life outside of Elmhurst and inside themselves.

To learn more about Elmhurst schools and life in our city, call us at (630) 441-5570 or visit www.gmregroup.com

Elmhurst Open House List for Feb. 11

by Thomas Makinney

We will be hosting two open houses this weekend. Stop by and check them out!


165 S Sunnyside Ave., Elmhurst

1:00-3:00pm, Sunday, February 11

$900,000

4 Bedroom, 4 Bath

 

749 S Fairview Ave., Elmhurst

1:00-3:00pm Sunday, February 11

$894,800

5 Bedroom, 4.5 Bath

What does the new tax reform mean for homeowners?

by Thomas Makinney

It might be hard to remember with all that’s been going on in the past month, but as of Jan. 1, a new tax policy goes into effect. Many of us will not see many changes until we file their taxes in 2019, but the tax laws could not only impact our paycheck (for better or worse) they also have the potential to significantly alter home ownership incentives.

We can’t speak for individual paychecks, but as far as how the tax policies relate to real estate, we can offer a few insights.

  1. Reduced cap on mortgage interest deduction.

What it is: The Tax Cuts and Jobs Act reduced the limit for mortgage interest rate deduction for new loans to $750,000, starting Dec. 15, 2017. Loans that were taken before this date are grandfathered into the previous tax policy, which featured a $1 million cap on the deduction.

What it means: Homeowners who want to refinance their existing mortgage can do so up to $1 million and still be able to deduct the interest, however, the new loan cannot exceed the amount of debt being refinanced. Nationwide, this should only affect 1.3% of all mortgages, however, high-priced housing areas will feel the impact.

  1. New limits for state and local tax deductions.

What it is: While homeowners previously had an unlimited itemized deduction amount, under the new bill, they can only itemize deductions up to $10,000 for the total state and local property taxes and income or sales taxes. The cap is the same for both individual and married filers.

What it means: Households that itemize deductions and pay more than $10,000 in combined state and local taxes will get a smaller tax break, and for others, having a cap on deductions may be the deciding factor for some as to whether or not to itemize.

  1. Capital gains time frame excluded.

What it is: The previous capital gains tax policy, which stated that homeowners must live in the home for two out of the past five years in order to qualify for the exclusion, remains unchanged.

What it means: Sellers who live in their homes between two and five years can list their homes on a more flexible schedule without fear of a potentially hefty tax hit. (An original Senate bill had proposed an increase in the residency requirement to five years out of the past eight, but it did not make the final version.)

  1. Home equity loan deductions qualified.

What it is: Taxpayers will no longer be able to deduct interest paid on home equity loans beginning in 2018. Previously, there was a cap of $100,000 of home equity debt.

What it means: By taking away a low-cost financing option, many worry that owners will end up paying more for their loans, which could impact the home ownership rate make it more difficult for struggling communities to reinvent themselves. This shouldn’t impact the rate of home ownership but may affect home renovations.

  1. Standard deduction doubled.

What it is: The standard deduction for both single taxpayers and married couples filing separately used to be $6,350; that is being doubled under the new law to $12,000. Married couples filing jointly will see their previous deduction of $12,700 increase to $24,000.

What it means: This increase will most likely impact how many homeowners take advantage of their mortgage interest deduction. With a larger standard deduction and a decreased itemized deduction, many filers will no longer find it financially advantageous to itemize deductions. Under the current tax code, itemizing and claiming the mortgage interest deduction is financially worthwhile for about 44% of homeowners. Under the new law, itemizing and claiming the mortgage interest deduction will only be worthwhile for about 14.4% of homes nationwide.

Of course, it’s much to soon to tell how these new tax codes will affect anyone. According to research in the Wall Street Journal, it appears that taxpayers in high-cost areas (such as New York, San Francisco, Honolulu, and even Chicago) will feel much of the impact, and high-tax burdened markets will most likely receive a higher tax bill with the new limit. Low-tax states, however, may benefit from the new code.

Many thanks to RISMedia, realtor.com, and Zillow Research for the insight and analysis that contributed to this post. And many thanks to our CPA who proofed the piece for accuracy. 

If you have questions about the new tax code, and particularly how it will affect the Elmhurst housing market, please reach out to us. We’re here to help! Call (630) 441-5570 or visit www.gmregroup.com

Elmhurst Open House List for Feb. 3-4

by Thomas Makinney

823 S Washington St., Elmhurst


749 S Fairview Ave., Elmhurst


445 S Parkside Ave., Elmhurst

207 N West Ave

Elmhurst

02/04/2018

1:00-3:00 PM

$372,400

414 E Schiller St

Elmhurst

02/04/2018

1:00-3:00 PM

$389,900

963 Chatham Ave

Elmhurst

02/04/2018

1:00-4:00 PM

$449,900

101 W Madison St

Elmhurst

02/04/2018

12:00-2:00 PM

$462,900

412 E Huntington Ln

Elmhurst

02/04/2018

1:00-3:00 PM

$539,000

310 S Chandler Ave

Elmhurst

02/03/2018

12:00-2:00 PM

$539,900

384 S West AVe

Elmhurst

02/03/2018

1:00-3:00 PM

$550,000

591 S Fern Ave

Elmhurst

02/03/2018

11:00AM-1:00 PM

$559,000

823 S Washington St

Elmhurst

02/04/2018

12:00-2:00 PM

$650,000

749 S Fairview Ave

Elmhurst

02/04/2018

12:00-2:00 PM

$894,800

141 N Caroline St

Elmhurst

02/04/2018

12:00-3:00 PM

$949,900

141 N Caroline St

Elmhurst

02/03/2018

12:00-3:00 PM

$949,900

140 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,129,000

140 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,129,000

148 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,139,000

148 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,139,000

136 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,269,000

136 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,269,000

445 S Parkside Ave

Elmhurst

02/04/2018

12:00-2:00 PM

$1,339,900

128 Joanne Way

Elmhurst

02/03/2018

11:00AM-4:00 PM

$1,529,000

128 Joanne Way

Elmhurst

02/04/2018

11:00AM-4:00 PM

$1,529,000

Elmhurst Open Houses for January 27-28

by Thomas Makinney

Come check out two beautiful open houses that we'll be hosting this weekend!

165 Sunnyside, Elmhurst

Sunday, 1:00-3:00 PM


823 Washington, Elmhurst,

Sunday, 1:00-3:00 PM

Elmhurst D205 to offer dual Spanish-English curriculum

by Thomas Makinney


Beginning in the 2018-19 school year, students in D205 will have the opportunity to enroll in a dual language program (Spanish/English) at Conrad Fischer Elementary.

The classes will be regular curriculum classes taught in both English and Spanish, with an equal mix of native English speakers and native Spanish speakers. There will be at least 50% of instruction in each level, and the curriculum will match the regular English curriculum.

The program is aimed at not only helping native Spanish speakers learn English but also to help native English speakers become truly fluent in Spanish.

While providing bilingual classrooms and curriculum is mandatory for all public schools in Illinois who have 20 or more students of one language in the school, a dual language program goes a step further to fully integrate two cultures. The hope is that both groups will pick up a second language and emerge from the program fully fluent in both languages.

The goal of the program is that by the end of elementary school, all students in the program are fluent in both languages and have academic performance that exceeds their monolingual counterparts.

A recent study revealed that students who complete a dual language program enter middle school outperforming their peers by as much as one grade level in all subjects.

It’s a win-win situation where Spanish students will develop their native language rather than losing it (and close the gap between Spanish-speaking students and their English-speaking counterparts) while English speakers will add a second language without sacrificing English development.

For the first year, the program will focus on kindergarten, but it is expected to continue through fifth grade.

There were concerns from some parents that teachers wouldn’t be able to teach enough Spanish while others were concerned that the school doesn’t have enough room. Current plans involve extensive language training for teachers over the summer and two classrooms dedicated to the program.

There are numerous benefits to speaking two languages including increased executive functioning, protection against cognitive decline, and a cultural awareness, sensitivity, and appreciation for other languages and cultures.

And in this world of global citizenry, it’s hard to argue with that.

We’re so proud of Elmhurst for taking this leap and embracing a truly bilingual program. To learn more about our amazing schools and community, call us at (630) 441-5570 or visit www.gmregroup.com

Elmhurst Open House List for Jan. 20-21

by Thomas Makinney


749 S Fairview Ave. Elmhurst

274 E. Oneida Ave., Elmhurst

1200 S Prospect Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$262,000

1200 S Prospect Ave

Elmhurst

01/20/2018

1:00-3:00 PM

$262,000

210 N Addison Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$325,000

207 N West Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$374,900

414 E Schiller St

Elmhurst

01/20/2018

11:00AM-1:00 PM

$389,900

558 S Hillcrest Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$425,000

963 Chatham Ave

Elmhurst

01/21/2018

1:00-4:00 PM

$469,000

160 S Poplar Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$484,900

818 S Hillside Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$489,000

550 S Edgewood Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$489,900

804 S Saylor Ave

Elmhurst

01/21/2018

11:00AM-2:00 PM

$609,000

972 S Spring Rd

Elmhurst

01/21/2018

1:00-3:00 PM

$749,000

180 S Lawndale Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$774,900

255 E Forest Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$779,900

991 S Mitchell Ave

Elmhurst

01/21/2018

1:00-4:00 PM

$880,000

415 N Highview Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$889,900

749 S Fairview Ave

Elmhurst

01/21/2018

12:00-2:00 PM

$894,800

141 N Caroline St

Elmhurst

01/21/2018

12:00-3:00 PM

$969,900

141 N Caroline St

Elmhurst

01/20/2018

12:00-3:00 PM

$969,900

274 E Oneida Ave

Elmhurst

1/20/2018

2:00-4:00 PM

$1,249,900

245 N Elm Ave

Elmhurst

01/21/2018

1:00-3:00 PM

$1,185,000

969 S Mitchell Ave

Elmhurst

01/21/2018

1:00-4:00 PM

$1,199,000

 

Don’t let your home sale be stalled by roadblocks

by Thomas Makinney


If you’ve ever wondered why some houses sit on the market for weeks or months while others get snapped up in a matter of days, we have some answers. There are some frequent roadblocks that often lead to a languishing listing. Luckily, they’re all easily fixable.
 
1.     Mediocre Asking Price. Buyers are often indifferent if the price is too high compared to similar homes. And often, you’re missing an entire segment of the market who are only searching in a certain range. The right price makes the home stand out in comparison, especially if it’s an oversupplied sub-category. Don’t make the mistake of thinking that a higher price gives you more negotiating room. In reality, the right buyers either don’t see it or move on when they see better homes in the same price range.
2.     Outdated or dirty. Homes should either be beautifully dated or updated and CLEAN. A clean, dated, and staged home with a compelling asking price sells and so does a clean, updated, staged home with a compelling asking price. Make sure walls, ceilings, and floors are washed and cleaned (and wipe the countertops frequently).
3.     Too much clutter. Buyers want to envision themselves in a home. It can be hard to see beyond too many knickknacks or papers or laundry. Too much furniture makes rooms feel smaller and claustrophobic.
 
If your home is still languishing despite having the right price and being properly updated and clean, consider staging. Staging involves someone coming in and helping place furniture, artwork, plants attractively as well as removing excess items that may make buyers think the home is smaller or has too little storage space.
 
Here at Gracik Makinney, we help all of our clients not only price their homes but offer advice and tips for what to update, clean, and remove. Call us for more information, (630) 441-5570 or visit our website www.gmregroup.com.
 

Best financial investments for Elmhurst homes before going to market

by Thomas Makinney

Thinking of putting your house on the market in the new year? Before you do, you might want to get your house in order. Not sure where to start? Wondering where you can get the biggest bang for your buck? We have some guidance on the best investments you can make in the current market.

First off, neutral painting of walls, trim, doors, ceiling, and even cabinetry is HUGE (don’t forget the outside as well as inside). Updated flooring also makes a major difference. You want to convey to the buyer, “Move in, get comfortable, and take your time making it your own.” It’s hard to see beyond dirty walls and stained carpeting.

Take a look at your front entryway. In the real estate market, people really do judge a book by its cover. Pretend you are a potential buyer walking up to the front door and waiting for the agent to open the home up. Take a sharp critical look at what you see—from overgrown bushes to chipped paint on the door to dim lighting in the entry.

It would be great if every home on the market had an updated kitchen and bath, but this is unrealistic and often cost prohibitive. However, some enhancements can be done for a modest price and really make a big difference. Consider updating appliances, countertops, plumbing fixtures, lighting, and textiles.  

Beyond that, you’ll want to make sure all major problems are fixed. Broken air conditioners, leaky roofs, dripping faucets should all be taken care of before your house goes on the market. If you don’t want to replace a roof, consider a credit to the buyer as part of the sale price.

Other solid investments include a fresh coat of exterior paint, new garage doors, energy-efficient windows, and updated appliances. If you do decide to do a kitchen or bathroom remodel, make sure you don’t price yourself out of the market (or take shortcuts for a high-end home). You don’t want to put a luxury kitchen in a $250,000 home.

If you have specific questions about what you need to do to your home before you put it on the market, please reach out to us at (630) 441-5570 or through our website, www.gmregroup.com. We’ve sold thousands of homes in the area and can give you a free consultation. 

Displaying blog entries 1-10 of 697

Syndication

Categories

Archives