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Elmhurst Illinois Open Houses for Sunday, April 29, 2012

by Thomas Makinney

Address:326 N Highland Ave

City: Elmhurst

Price:$337,500

Scheduled for: 04/29/2012 from 02:00 PM to 04:00 PM

 

Address:772 S Cedar Ave

City: Elmhurst

Price:$550,000

Scheduled for: 04/29/2012 from 02:00 PM to 04:00 PM

 

Address:2 S Atrium Way Unit 307

City: Elmhurst

Price:$169,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:2 Atrium Way Unit 509

City: Elmhurst

Price:$199,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:4 Dewalt Ct

City: Elmhurst

Price:$209,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:316 N Shady Ln

City: Elmhurst

Price:$244,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:505 S Berkley Ave

City: Elmhurst

Price:$255,000

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:762 S Fairfield Ave

City: Elmhurst

Price:$269,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:496 N Howard Ave

City: Elmhurst

Price:$274,000

Scheduled for: 04/29/2012 from 01:00 PM to 04:00 PM

 

Address:291 Wilson St

City: Elmhurst

Price:$279,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:419 Hawthorne Ave

City: Elmhurst

Price:$319,500

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 549 N Indiana St

City: Elmhurst

Price:$349,900

Scheduled for: 04/29/2012 from 01:00 PM to 04:00 PM

 

Address: 638 Hawthorne Ave

City: Elmhurst

Price:$369,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 3 Manchester Ln Unit 3

City: Elmhurst

Price:$395,000

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 787 S Saylor Ave

City: Elmhurst

Price:$399,800

Scheduled for: 04/29/2012 from 01:00 AM to 04:00 PM

 

Address: 160 S Linden Ave

City: Elmhurst

Price:$400,000

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 161 W Jackson St

City: Elmhurst

Price:$475,000

Scheduled for: 04/29/2012 from 01:00 PM to 04:00 PM

 

Address: 285 W First St

City: Elmhurst

Price:$475,000

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address:285 S York St

City: Elmhurst

Price:$499,000

Scheduled for: 04/29/2012 from 01:00 PM to 04:00 PM

 

Address:772 S Cedar Ave

City: Elmhurst

Price:$550,000

Scheduled for: 04/29/2012 from 02:00 PM to 04:00 PM

 

Address: 24 Windsor Dr

City: Elmhurst

Price:$600,000

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 251 N Highview Ave

City: Elmhurst

Price:$625,000

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 449 Parkview Ave

City: Elmhurst

Price:$639,900

Scheduled for: 04/29/2012 from 01:00 PM to 03:00 PM

 

Address: 757 S Berkley Ave

City: Elmhurst

Price:725,900

Scheduled for: 04/29/2012 from 01:00 PM to 04:00 PM

 

Address: 318 N Elm Ave

City: Elmhurst

Price:$919,900

Scheduled for: 04/29/2012 from 01:00 PM to 04:00 PM

 

Address: 372 S Kenilworth Ave

City: Elmhurst

Price:$989,900

Scheduled for: 04/29/2012 from 12:00 PM to 03:00 PM

Buying High-End in Elmhurst

by Thomas Makinney

The following blog was written by Seth Godin, who has graciously agreed to let us repost it. The information is definitely worth sharing with my Elmhurst friends. You can see the actual article and learn more about Seth by clicking the source link at the end of the article.

Two ways to buy the expensive

Buying something like a house, a piece of fine art, a used car or a business is as much a marketing exercise as selling that very item might be.

There are two common approaches. The first is to denigrate.

Explain that the seller has bad taste. That the car isn't in good shape. That the art was poorly selected for the resale market. Poke holes in the business model, the management team or the landscaping design.

Better still, make the seller feel as though she's on thin ice. Bring an exploding offer to the table and watch her squirm as it goes down in value from day to day. Point to others that have waited too long to sell and how they ended up regretting it. Question her values and her judgment.

In other words, go for the win, where winning is defined as getting a great price.

There are two problems with this approach. The first, and the biggest, is that anything you truly want to buy probably has multiple buyers interested, and with better information available every day, the best stuff is going to be sold to someone else. Your denigration strategy is going to inevitably limit your pool of available items to sellers with self-esteem or desperation issues.

The second problem is that the word spreads. Your gallery or your buyout fund or your dealership quickly earns a reputation (there's that marketing thing again) as the buyer of last resort, once again creating an environment where your approach determines what's available to you.

The alternative is to respect and to communicate. After all, you're here to buy something--I'm guessing that's because you think it's worth something more than you're willing to pay for it. So value the judgment and taste of the seller. Be clear about what you like about it, be honest about the value that's been created. Even better, instead of coming in high and then figuring out ways to bully and lower your offer, come in low and enjoy the process of bidding it up, making the seller root for you and look forward to hearing from you. (This is particularly useful when making an investment where you want management to be happy with you after the deal is done).

In a fair market, it's entirely likely you'll end up paying precisely what you would have paid using the other method, but you'll be offered more works, more stuff worth paying for, and your reputation will reflect that. Most of all it's important to understand that we're not talking about bushels of wheat. Very little is a commodity, and the method you use to buy your expensive item may be even more important than how much you pay.

Source: Two ways to buy the expensive by Seth Godin

Listed below are links to weblogs that reference Two ways to buy the expensive:

« "I was just kidding" | Blog Home | Bandits and philanthropists »

Whatever kind of home you’re interested in, we can make the process easier. If you’re looking to buy or sell Elmhurst real estate or properties in the surrounding area, contact the Gracik Makinney Group, or call (630) 567-5902.

Elmhurst, IL March 2012 Real Estate Market Trends

by Thomas Makinney

Elmhurst, IL February 2012 Real Estate Market Trends

Year-To-Date March, 2012 vs. Year-To-Date March, 2011, the average price in the Elmhurst Area was down 17.34%.  The YTD average price was down from $404,617 to $334,464. The YTD median price decreased 16.849%, from $320,500 to $266,500.  As of April 26, 2012 there were 421 active listings in the MLS, representing a 12.14 month supply of inventory (MSI)).  Remember, 5.5 months is considered a "balanced" market by most.  Year-To-Date average Days on Market (DOM) was up  from 147 thru March, 2011 to 161 thru March 2012.

 

 

 

 

 

 

               

The statistics presented in Market Tracker are compiled monthly based on figures and data generated by MRED for detached single family and attached single family properties. Due to possible reporting inconsistencies, Days on Market (DOM), average prices, and rates of change should be used to analyze trends only. Property and statistical data sourced from MLS is solely for your personal, non-commercial use in buying or selling a property and is deemed reliable but not guaranteed and should be verified. All representations and warranties regarding the information are disclaimed. Reproduction or any other use is prohibited.
 

 

Spring... Everyone is smiling

Wondering why folks seem to have more of a 'spring in their step' this spring? Sure, the warm weather started unbelievably early and we barely saw winter. And yes, tax season is officially over. But one of the biggest reasons to smile in 2012 has been the activity of our local housing market. Elmhurst real estate has been extremely busy since the New Year and shows substantial signs of promising longterm improvement. That's right. It looks like there's a little less caution and a bit more optimism in the 'cautiously optimistic' outlook of late.
 
Borrowers, for instance, are smiling. Capital Economics, a leading independent research firm, reports that banks are making credit available to more buyers, lending amounts up to 3.5 times borrower annual earnings. Banks are also loosening loan-to-value ratios (LTV), now lending at an average of 82% LTV vs. the mid-2010 lows of 74%.
 
Homebuyers are smiling. Releasing its winter 2012 'Rent vs. Buy Index,' Trulia reports that in 98 of America's top 100 metropolitan areas, including the city of Chicago and DuPage County, owning a home is more affordable than renting. Key factors include low home prices, rising rents, and record low mortgage rates, still around 4% for 30-year fixed products.
 
Builders are even smiling. In late March, the Urban Land Institute released its real estate forecast for the next three years, with encouraging trends in both the residential and commercial building sectors through 2014. The panel estimates that single-family housing starts will jump from 428,600 in 2011 to a projected 800,000 in 2014. As demand improves, home prices should follow. ULI CEO Patrick Phillips says, "what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years." (www.uli.org)
 
And yes, REALTORS® are smiling, too. Helping you achieve your real estate goals puts the spring in my step every day. Count on me to continue to provide my highest level of service and attention, and thank you for the trust of your referrals

 

The Best Selling Strategy

Sellers, you have an excellent opportunity to sell your home this season, if you have the right pricing strategy in place from the start! Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:
· Minimizes offers
· Decreases agents response
· Limits qualified buyers
· Decreases showings
· Decreases prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact us today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

 

Be Prepared for Competition on that Elmhurst Home

by Thomas Makinney

If you’re in the market for a home in Elmhurst, IL, listen up. The buyer’s market is on its way out, home prices are starting to rise, and you could well find yourself in a bidding war for the house you’ve chosen.

Bidding wars were common back in 2006. Back then the buyer’s market took hold and most Elmhurst home sellers had to settle for whatever they were offered, including low-ball bids. But real estate markets in many cities are reporting that bidding wars have begun to happen again.

There are several reasons for this change. According to the National Association of Realtors: Sales of existing and pending homes have risen more than 8 percent compared to this time last year, there are fewer homes for sale now than in the last six years, and the improving job market has helped create more potential homebuyers. Trulia Inc. reports that low mortgage rates and decreasing home values make buying a better option than renting in 98 out of the 100 largest metro areas.

It really comes back to the basic economic principle of supply and demand. As the supply of available homes decreases, larger numbers of buyers are interested in the same properties - and the competition is on!

An economist with Moody’s recently stated, “The decline in unsold listings and vacant homes and the increase in rents presage better times ahead for single-family housing.”

So if you’re seriously hunting for Elmhurst real estate, don’t wait too long to make a decision - and be ready to negotiate.

We have a proven track record of getting the best value for buyers and sellers. If you’re looking to buy or sell Elmhurst real estate or properties in the surrounding area, contact the Gracik Makinney Groupor call (630) 567-5902.

Remodel Your Elmhurst Home for Value and Buyer Appeal

by Thomas Makinney

Although you plan to stay in your Elmhurst, IL home for the foreseeable future, at some point you may want to (or have to) sell. So it makes sense that in addition to making you happy, any remodeling done to the home should both add value and be enticing to potential buyers.

Here are four renovations that will potentially cover all bases.

Amenities for Aging Owners – If you plan to live in the home as long as you can, or if extended family members will move in with you, there are specific remodels that can help you “age in place.” These include wider doorways to accommodate wheelchairs, putting in a bedroom on the home’s entry level, and modifying other indoor and outdoor areas to reduce or eliminate stairs. 

Because more extended families are living together and older homeowners want to stay in the home as long as possible, these remodels are now common and buyers have come to look for them in a prospective home.

A Family Kitchen – You want to create a space that will combine the cooking and eating areas, even if it means reducing the space where the food is prepared. Today’s buyers want room to gather for a meal and spend time together. Pantries and utility rooms are popular as are open shelving and islands that allow socializing with family and guests while preparing the meal.

Go High-Tech – Having your Elmhurst home wired and ready to handle today’s technology needs will absolutely add value, as many people are now working from their homes. If you have the room, put in space-saving workstations or a home office with large furniture such as floor-to-ceiling bookcases.

The Great Outdoors – Try to fully utilize any available outside space. One option is to fashion an outdoor living room on your deck or patio. The trend for these spaces is to set them up with wiring and amenities for cooking. Or you can bring outdoor furniture inside for a unique Elmhurst living space.

The trick with any remodeling effort is to balance what you like and want in your home with the things that will add value when it’s time to sell.  It can take a little time, but in the long run it’s worth the effort.

We know how to spot all the unique aspects of any home. If you’re looking to buy or sell Elmhurst real estate or properties in the surrounding area, contact the Gracik Makinney Group, or call (630) 567-5902.

 

Elmhurst Illinois Open Houses for Sunday, April 15, 2012

by Thomas Makinney

Address:703 W Alexander Blvd

City: Elmhurst

Price:$159,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:108 W St. Charles Rd

City: Elmhurst

Price:$214,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:903 S Prospect Ave

City: Elmhurst

Price:$239,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:826 S Fairfield Ave

City: Elmhurst

Price:$299,900

Scheduled for: 04/15/2012 from 02:00 PM to 04:00 PM

 

Address:146 N Caroline Ave

City: Elmhurst

Price:$319,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

 

Address:374 E May St

City: Elmhurst

Price:$339,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:549 N Indiana St

City: Elmhurst

Price:$349,900

Scheduled for: 04/15/2012 from 12:00 PM to 03:00 PM

 

Address:199 S Hawthorne Ave

City: Elmhurst

Price:$350,000

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:133 S West Ave

City: Elmhurst

Price:$359,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:964 S Kent Ave

City: Elmhurst

 

Address:136 N Pine St

City: Elmhurst

Price:$450,000

Scheduled for: 04/15/2012 from 01:00 PM to 04:00 PM

 

Address:161 W Jackson St

City: Elmhurst

Price: $475,000

Scheduled for: 04/15/2012 from 01:00 PM to 04:00 PM

 

Address: 117 Chandler Ave

City: Elmhurst

Price:$490,000

Scheduled for: 04/19/2012 from 09:00 AM to 03:00 PM

 

Address:714 Benton Ave

City: Elmhurst

Price:$499,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:230 Addison Ave Unit 230A

City: Elmhurst

Price:$530,000

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:388 Holly Ave

City: Elmhurst

Price:$584,900

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:251 N Highview Ave

City: Elmhurst

Price:$625,000

Scheduled for: 04/15/2012 from 01:00 PM to 03:00 PM

 

Address:465 S Kenilworth Ave

City: Elmhurst

Price:$629,900

Scheduled for: 04/15/2012 from 01:00 PM to 04:00 PM

 

Address:730 N Howard Ave

City: Elmhurst

Price:$669,900

Scheduled for: 04/15/2012 from 01:00 PM to 04:00 PM

 

Address:605 W Babcock Ave

City: Elmhurst

Price:$674,900

Scheduled for: 04/15/2012 from 01:00 PM to 04:00 PM

 

Address:757 S Berkley Ave

City: Elmhurst

Price:$725,900

Scheduled for: 04/15/2012 from 12:00 PM to 03:00 PM

 

Address:294 Berteau Ave

City: Elmhurst

Price:$795,000

Scheduled for: 04/15/2012 from 12:00 PM to 03:00 PM

 

Address:318 N Elm Ave

City: Elmhurst

Price:$919,900

Scheduled for: 04/15/2012 from 01:00 PM to 04:00 PM

 

Address:299 W First St

City: Elmhurst

Price:$1,200,000

Scheduled for: 04/17/2012 from 10:00 AM to 02:00 PM

Master’s Hole-in-One for Elmhurst’s Mark Wilson

by Thomas Makinney

On your first trip to the Master’s Tournament, you figure it will take a little time to settle into your game—unless you’re Elmhurst, IL native Mark Wilson, who shot a hole-in-one on his first day of play in the Par 3 Championship, which officially opens the Master’s each year.

Check out the video of Mark's fantastic shot by clicking on the picture below:

 (Video courtesy of http://kansascity.sbnation.com.)

Wilson didn’t win the Par 3 competition, which was shortened by bad weather, but he has high hopes for his chances in the real tournament at Augusta National. And the one-shot hole certainly should help his confidence.

It’s been somewhat of a winding road from his Elmhurst home to Augusta, GA for Wilson. When he watched the Master’s as a spectator ten years ago, he promised himself that the next time he came it would be to play.

After winning the Honda Classic in 2007, Wilson assumed he had qualified for the Master’s. But a change in the qualification rules shut him out that year and again in 2009 when he won the Mayakoba Golf Classic in Mexico.

Qualifying for this year’s tournament came by a two-shot victory at the recent Sony Open in Honolulu.  Because rain washed out the first round, Wilson had to survive playing 36 holes in one day to take the win. He shot eight birdies and no bogies the entire day.

So finally getting to play Augusta is a dream come true, if not a little nerve-wracking, but Wilson says he’s ready to make his first cut in a major tournament. Based on his first day, it’s very likely.

As the days go on, all of Elmhurst will be watching and rooting for their native son to play his best, and show the world that the Master’s is right where he belongs.

Both in golf and real estate, perseverance and a focus on excellence make all the difference.  If you’re looking to buy or sell Elmhurst real estate or properties in the surrounding area, contact the Gracik Makinney Group, or call (630) 567-5902.

A classic 2-story 4-bedroom in Elmhurst's Elm Estates

by Thomas Makinney

The 4-bedroom, 2 ½ bath 2-story home at 964 Kent Ave in the Elm Estates neighborhood of Elmhurst will be instantly recognizable to tens of millions of people who grew up in homes very similar to it. It's a classic layout from the 60s that's stood the test of time and still works with the way people live today. All four bedrooms and 2 full baths, one a Jack-and-Jill, are on the second floor. The first floor has a large living room, a family room, and an eat-in kitchen that could be opened to the formal dining room for people who prefer a more informal style of entertaining. The home has a 2-car attached garage and is on a large fenced lot on a tree-canopied street. Tom Makinney of Koenig & Strey's Gracik Makinney Group is our host in the sponsored video.

An affordable half-duplex near downtown Elmhurst

by Thomas Makinney

This 3-bedroom, bath-and-a-half duplex has a lot to offer at a price tag, $220,000, that will appeal to the first-time buyer or someone looking to downsize. The home has a welcoming foyer, a large eat-in kitchen, a separate dining area, a spacious living room with a fireplace, and 3 bedrooms upstairs. The master bedroom has a walk-in closet, which is unusual for this type of home. There's also a finished basement, a 2-car garage and a nicely-sized fenced yard with a patio. The home is a few blocks from the heart of downtown Elmhurst and the Metra Station. Maria Gracik of Koenig & Strey's Gracik Makinney Group is our tour guide in this sponsored video.

An expanded, open-plan traditional in Elmhurst's Cherry Farm

by Thomas Makinney

South Street, with its broad expanse of front lawns and lush, colorful vegetation, is one of the most attractive streets in Elmhurst's sought-after Cherry Farm neighborhood. The traditional, center-entry home at 257 South Street was expanded to include an open floor plan kitchen and family room, a second-floor master suite, and a sprawling recreation room on the lower level. The 3,100 square foot home features 4 bedrooms, 3 full and 2 half baths and, at an asking price of $700,000, is priced several hundred thousand dollars below comparable new construction in the area. Maria Gracik and Tom Makinney of the Gracik Makinney Group are our tour guides in this sponsored video.

Displaying blog entries 1-10 of 17

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