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Elmhurst's York High Honored...Again!

by Thomas Makinney

One of Elmhurst’s local schools, York Community High School, has once again been named a GRAMMY Signature School Semifinalist. This is York’s second year in a row to be nominated for this prestigious award – this year they’re one of 219. In partnership with many sponsors, the GRAMMY Foundation works to create opportunities for high school students to get the chance to work with music professionals, gaining real-world experience and advice on how to get started on a music career.

With this in mind, each year schools across the nation that have made a great commitment to music education are selected during the academic school year. The finalists will be announced in mid-March and will receive a GRAMMY award and a cash prize. Last year, York was named one of three Gold Finalists and received $5,500 towards its music program.

Since 1998, the GRAMMY Signature Schools program has worked to sustain excellence in music education and to raise awareness of the cuts to music programs that occur in schools across the country. Each year, the top three schools nominated are designated Gold finalists, and each receives a custom award and a monetary grant to benefit its music program. The school with the best program is named the National GRAMMY Signature School. The selection process begins in August when the Foundation sends notification to schools about the contest and the required application.  The applications are scored after the October deadline; the finalists are identified and asked to submit additional information about their programs, such as recordings of concerts and sample programs. An independent blue-ribbon committee of top music educators and professionals reviews this additional information, and decides which schools merit designation as GRAMMY Signature Schools.

All of us here at the Gracik Makinney Real Estate Group wish the best of luck to York Community High School. York is just one of the reasons that Elmhurst is such a great place to call home. Why not make it your home, too? Let us show you what’s available. Give us a call on 630-441-5570, or stop by the office at 190 North York Road here in Elmhurst.

Elmhurst Real Estate Update, December 2013

by Thomas Makinney

Elmhurst Market Statistics for November

November property sales were up 30.6% over the same time last year, from 36 in November 2012 to 47 homes sold this year. November YTD sales are up 37.6% at 652 vs. 474 for last year. November YTD average sales price increased 7%, from $382,850 in 2012 to $409,618 in 2013. The November Average Sales Price was up 3.5%, from $437,075 to $452,541. The November 2013 vs. November 2012 median price increased 40.8%, from $300,000 to $422,500. The November average Days on Market (DOM) were down from 59 in November 2012 to 51 in November 2013.

                 
Profile & Trends Month LM L3M PYM LY YTD PriorYTD PriorYr
Median List Price: All $409,450 2%   14%        
Average List Price: All $527,081 1%   13%        
Nov Median Sale Price $422,500 46% 31%
41%
39% $337,000 11% 11%
Nov Average Sale Price $452,541 24% 11% 4% 18% $409,618 7% 7%
Total Properties for Sale 202 -19%   -21%        
Nov No. Properties Sold 47 -20%   31%     38%  
Nov Average Days on Market 51 -14% 0% -49% -41% 60 -30% -30%
Asking Price/Sq Ft $215 -4% 0% 10% 8% $216 8% 8%
Nov Sold Price/Sq Ft $205 11% 4% 11% 11% $195 5% 6%
Nov MSI 4.3 1% 1% -40% -44% 4.3 -44% -44%
Nov Sale vs List Price 93.7% -2.6% -3% -1% -0.6% 96.1% 1.8% 1.9%

 

Inventory & MSI

The November 2013 MSI of 4.3 months was at its lowest level compared with November of 2012 and 2011. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. Remember, 5.5 months is considered a “balanced” market by most.

 

 

 

 

 

 

Selling Price vs. Listing Price

The Selling Price vs. Listing Price reveals the average amount that Sellers are agreeing to come down from their list price. The lower the ratio is below 100%, the more of a Buyer's market exists; a ratio at or above 100% indicates more of a Seller's market. The November 2013 Selling Price vs. List Price of 93.7% was down from 96.2% last month and down from 94.8% in November of last year.

 

 

 

 

 

Why Today’s Homebuyer Needs a Real Estate Agent More Than Ever

Teresa Boardman, Inman News contributor

Last summer I got an email from a local real estate attorney who wanted to buy a house. He’d just gotten engaged and wanted to save some money by representing himself.

This attorney wanted to do all the work an agent would do to find and buy his first home, and get paid a commission for his work. I explained to him that the commission is payable to the listing agent who agrees to pay a portion of it to the Realtor representing a buyer.

Usually, if there’s no buyer’s agent, the seller’s agent gets the entire commission. Some agents will accept a reduced commission for representing both parties. The seller saves some money that way. Sometimes the savings get passed along to the buyer.

I get several emails each year from homebuyers, usually first-timers, who want to know how they can get a real estate license so they can save money on the purchase of a home. They find me through my blog, and apparently decide that I am too scary to work with, but not so scary that they can’t ask me a question or two.

Read more here…

Happy Holidays from The Gracik Makinney Group!

 

Update on Elmhurst's Hahn Street Development

by Thomas Makinney
Elmhurst has been looking forward to the changes coming to Hahn Street since redevelopment was first discussed way back in 2006. At the city’s recent 2014 budget meeting, we moved one step closer to a final design with consideration of the preliminary financial reviews from the two primary developers competing for the rights to develop the site located between North Avenue, York Road, Addison Street and Third Street.
Lincoln Properties of Dallas and Oak Brook, and Morningside Hahn based in Chicago, have both submitted proposals to the Elmhurst City Council. The financial implications of the plans were discussed at the meeting with the city’s financial consultant, Kane McKenna & Associates, Inc.
 
Both plans involve street-level retail space built around a plaza fronting York Street with rental apartments above as requested by the city. The differences are most apparent in the apartments structures. Morningside proposes one of two possible apartment scenarios – a four-story building with 139 units, or a six-story structure with 207 units. The Morningside plan also includes 12,000 square feet of leasable retail space. The Lincoln Properties plan is based upon a five-story, 216 apartment structure with 14,000 square feet of leasable retail space.
 
Robert Rychlicki, a representative of Kane McKenna & Associates, said that his firm believes the Lincoln proposal offers the highest net benefit for the city. He estimates the city’s gain with the Morningside’s four-story proposal at just $16,000 with a more respectable $5.6 million for the six-story plan. By contrast, Lincoln’s plan is projected to have a net benefit to the city of nearly $11 million. These estimates were determined by a fairly complicated procedure that estimated net income to the city from potential tax collections, and so forth minus the potential outlays the city would incur both during construction and beyond.
 
Forward-thinking projects like these help Elmhurst move ahead and grow wisely, making sure that this will be an even better place to call home. When you're ready to make the move to Elmhurst, all of us here at The Gracik Makinney Group are ready to lend a hand. Drop by the office at 190 North York Road here in Elmhurst, or give us a call at 630-441-5570.
 

Elmhurst Open House List for Dec. 14-15

by Thomas Makinney

 

 

 

 

 

 

Address:  648 Swain Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 2 pm

Price:  $899,000

 

 

 

 

 

 

Address:  627 Sunnyside Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 2 pm

Price:  $950,000

 

Address:  274 E Crescent Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 1 pm

Price:  $339,900

 

Address:  368 N Myrtle

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 1 pm

Price:  $375,000

 

Address:  393 W Van Buren St

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 1 pm

Price:  $389,900

 

Address:  967 S Chatham Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 1 pm

Price:  $390,000

 

Address:  754 N Geneva Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 12 pm

Price:  $599,900

 

Address:  771 S Washington St

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 12 pm

Price:  $774,900

 

Address:  481 W Second Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/15, 1 pm

Price:  $995,000

Finding the Right Elmhurst Agent

by Thomas Makinney

If you’re trying to sell your Elmhurst home, you probably know that it can be a bit of a hassle. When making such a big financial and emotional investment, it’s important to make sure you have a truly professional real estate agent on your side. To help you decide which of the many real estate agents in the area qualify as the best, we’ve pulled together some important items to consider.

First impressions are very important. If the agent you’ve contacted gets backs to you immediately, maybe even returning your call within a few minutes, it shows that he or she truly wants your business. If you haven’t heard back from him or her within a couple of days, that agent probably won’t be focused on meeting, let alone exceeding, your expectations.

Look for someone who’s been a successful agent for at least five years. Having experience proves that the agent loves his or her work. If the agent has managed to stay in this highly competitive business for over ten years, you can be sure he or she knows their stuff. Also, look into how many transactions the agent has closed in a year - most agents only manage a handful, so if this one closes on 40 or more, you’ll be in good hands.

Test your prospective agent by asking about the marketing plan for your home. The agent should have a complete, step-by-step plan, and he or she should be able to explain how each step will work towards getting your home sold. Don’t be afraid to ask questions about it, either. If you feel like something’s missing or doesn’t sit right, a good agent should be able to explain why that particular strategy works in your market.

Another thing to remember is that you don’t have to sign a contract with the first agent you meet. Shop around, and see how different agents could work for you, and with you. It’s important to have a good connection and a strong degree of trust with the person who will be selling your home – you’ll know it when you find it.

The Gracik Makinney Group is devoted to helping you sell your home, and we’re determined to continue to exceed your expectations. We’ve been full time REALTORS for over 30 years. We are very well reviewed, and have sold almost 100 homes in 2013 alone. So, you can be confident in our ability to represent you and your property. Let me explain how – give me a call on 630-441-5570, or stop by the office at 190 North York Road here in Elmhurst.

Elmhurst Open House List for Dec. 7-8

by Thomas Makinney

 

 

 

 

 

 

 

Address:  648 Swain Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/8, 2 pm

Price:  $899,000

 

 

 

 

 

 

 

 

Address:  627 Sunnyside Ave

City:  Elmhurst

Scheduled for:  Sunday, 12/8, 2 pm

Price:  $950,000

 

Address:  100 W Butterfield Rd

City: Elmhurst

Scheduled for: Saturday, 12/7, 1 pm

Price:  $119,900

 

Address:  721 N Kenilworth Ave

City: Elmhurst

Scheduled for: Sunday, 12/8, 12 pm

Price:  $349,900

 

Address:  368 N Myrtle

City: Elmhurst

Scheduled for: Sunday, 12/8, 1 pm

Price:  $375,000

 

Address:  967 S Chatham Ave

City: Elmhurst

Scheduled for: Sunday, 12/8, 1 pm

Price:  $390,000

 

Address:  315 N Oak St

City: Elmhurst

Scheduled for: Monday, 12/9, 1 pm

Price:  $399,900

 

Address:  754 N Geneva Ave

City: Elmhurst

Scheduled for: Sunday, 12/8, 12 pm

Price:  $599,900

 

Address:  142 N Caroline Ave

City: Elmhurst

Scheduled for: Sunday, 12/8, 1 pm

Price:  $719,900

 

Address:  771 S Washington St

City: Elmhurst

Scheduled for: Sunday, 12/8, 12 pm

Price:  $774,900

 

Address:  424 W Third St

City: Elmhurst

Scheduled for: Saturday, 12/7, 11 am

Price:  $819,000

 

Address:  490 S York St

City: Elmhurst

Scheduled for: Sunday, 12/8, 1 pm

Price:  $999,000

Elmhurst Resident in it for the Long Haul

by Thomas Makinney

Elmhurst resident Paul Krauter is a runner but not in the ordinary sense of the word. He is a long distance runner participating in back-to-back marathons and a race of 50 miles. What’s more, he does it to honor his cousin afflicted with ALS, known as Lou Gehrig’s Disease, and to raise funds for the Les Turner ALS Foundation in their quest to conquer the disease.

Krauter began running long distance races just last year. Inspired by Running on Empty by ultra-marathoner Marshall Ulrich, he began training for and competed in his first marathon, the Fox Valley Marathon, last year.

After his first marathon, Krauter learned of the Les Turner Foundation’s Run for ALS program. His cousin, Tom Verachtert, has been fighting the disease since 2009, and Krauter dedicated himself to completing three back-to-back races in 2013 – the Advocate Dryer Fox Valley Marathon in September, the Chicago Marathon in October, and the North Face Endurance Challenge to be held this month. So far, he has collected more than $2,000 for the Foundation.

The North Face Endurance Challenge is a 50-mile race with severe elevation changes that proceeds along dirt trails and portions of track that overlook the Pacific Ocean. Despite the struggles of preparing for and participating in this race, Krauter is quick to point out that these are nothing compared to the day-to-day challenge of living with ALS. He says, “I want to run for those who can’t and speak for those who aren’t able to.” To donate to Paul’s efforts, visit www.Run4ALS.org and search for Paul Krauter.

We are very proud to live here in Elmhurst, and we are even more proud of our fellow residents. Why not make your home here, too? All of us here at The Gracik Makinney Group are happy to help you find the perfect place to call home. Stop by the office at 190 North York Road here in Elmhurst or give us a call at 630-441-5570. We’re here for the long haul.

Displaying blog entries 1-7 of 7

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