Barrington

FOR SALE – Barrington Village Victorian – $1,044,995

316 S. Cook Street – Barrington, IL – 60010

This is one of the Village of Barrington’s premier homes.  Five-years-new with upscale amenities including lustrous oak hardwood floors, high ceilings, gourmet kitchen, wide crown and trim, Marvin double-hung windows, tray ceilings and colonial fireplace.  With five Bedrooms, 4.1 Baths, a finished lower level and unfinished attic level with full staircase to second level, this home has ample room for the busiest family.  Relax in warmer months on the wrap-around porch or on the paver patio.  For additional information, contact Suzanne & Liz Luby at 847-691-3150. 

Directions:  Lake Cook to Cook Street, South to home on West side corner.

 

Click Here for More Property Details

Click Here for Virtual Tours & Additional Photos

Listed by The Luby Group
TheLubyGroup.com - Suzanne & Liz Luby
Suzanne Luby – 847-922-7773
Liz Luby – 847-691-3150

Barrington

Top 10 Ways I Convinced My Husband to Move to the Suburbs

I want to take a quick second to apologize for the recent absence of new blog posts here on BurbFeeder.com. I have achieved something monumental in the past couple of weeks that was several years in the making.

To start, let’s go back to February 2nd of 2005. It was a frigid, snowy Chicago Winter night. Too preoccupied to be cold and too rushed to be nervous, I dashed out of a listing appointment and raced to make a first date at a restaurant called Boka in Chicago. We said our “nice to meet you’s,” shared a couple of drinks and started to get to know each other. One year later we were engaged. Two years later we were married. Three years later, here we are. Within the past week, we’ve swapped our city digs for life in suburbia; the result of a major campaign on my part to convince my husband Bill that Barrington might be just as hip and happening as our old hood, Chicago’s Lincoln Square.

The task was far from easy. What could I possibly say to get a downtown dude to consent to leaving the daily city stimulants for life in the burbs? I appealed to his appetite, his pet peeves and his love of sports, of course. Here are the top ten ways I sold him on suburbia:

#10. Bike Paths and Forest Preserves - Lakefront, Shmakefront.
Who needs to dodge the running, biking and rollerblading
masses that swarm the shores of Lake Michigan?
#9. Thank You Express Train – A 45 Minute trip on the Metra will
transport us right back into the heart of the hustle and bustle.
Plus… no more long platform waits and stop-and-go commutes on
the drafty old EL
#8. Showed Him the Door – To the Basement of our New House
He always told me he wanted his own space to watch football,
keep his tools and hang is sports paraphernalia - Honey, Have at it!
#7. Goodbye Davis, Hello Catlow - Another neighborhood movie theater in our new neck of the woods
#6. Found Him a Place to Play Hoops - Signed Him Up at Good Shepherd Health and Fitness Center
#5. Wooed Him at Wool Street Grill - The closest sports bar & frosty
beverage are just a few blocks away
#4. Filled Him With Boloney at Boloney’s Sandwich Shop in
Barrington – He keeps asking me if I’m in the mood for a Sandwich
#3. Mayor Daley Made it Easier – Chicago’s Real Estate Transfer Tax
and Sales Tax are reason enough to say sayonara to the city
#2. Goebbert’s Pumpkin Farm - A great way to get our city friends to
to pile their kids in the car and pay us a Fall visit.
#1.  Hello Baby –  We found out we’re expecting our first child – just in
nick of time. Our baby is due in September and will love
the back yard and space here that would have cost so much more in any
of our favorite Chicago neighborhoods.

I sit, as I write, surrounded by unpacked boxes and giant balls of shriveled shrink wrap. The great irony is that since we’ve moved to the suburbs, business for me has picked up immensely in the city. I’m driving down there almost every day to show properties, connect with clients and check on listings. I’m happy to have so many reasons to go back. Bill is not the only one transitioning. We’re getting used to the new pace and change of scenery; new neighbors, new streets, parking places everywhere and far fewer sirens. Even a trip to good old Jewel feels a little foreign.

I’ve had so many clients who’ve made this move before me. Some who have shared my husband’s sense of major life change and even loss. It helps that we’re still so close to our favorite city and our friends. We’re settling, unpacking and adapting, one Boloney’s bite at a time.

Written by:
Liz Luby – REALTOR
The Luby Group – Coldwell Banker
Phone: 847-691-3150
Fax: 847-512-5466
Website: TheLubyGroup.com
Blog: BurbFeeder.com

Barrington

50 Ways to Schmooze Your Lover – Valentine Values in Barrington*

If you haven’t found something for your Valentine yet, never fear. We’ve compiled a list of 50 ways to score some big points with your significant other, without leaving Barrington. Please feel free to add your two cents by offering some romantic ideas of your own. Anyone can leave a comment on this blog, just by clicking HERE and filling out the comments box at the very bottom of our Valentine post under idea number 50. In the meantime, here we go. Get ready for loads of ideas that will keep your main squeeze longing for your love.
1. TRUE LOVE TRIFECTA - Dinner for two at Francescas Famiglia, 12 Long Stem Roses from The Barrington Flower Shop and a Massage for one at Massage Movement – all for $250. Contact Francesca’s for details • 847-277-1027 - 100 E. Station Street, Barrington, IL MiaFrancesca.com • The Barrington Flower Shop 201 S. Cook Street, Barrington, IL BarringtonFlowerShop.com • Massage Movement 847-304-5112 202 S. Cook Street, Suite 206, Barrington, IL • MassageMovement.com
2. DO SOMETHING SWEET – Tempt your lover’s taste buds at The Barrington Chocolate and Ice Cream Shoppe. Dive into a decadent brownie sundae, taste a sampling of gourmet truffles, pick your favorite flavors or share a plate of freshly made chocolate covered strawberries. The Barrington Chocolate and Ice Cream Shoppe • 847-381-9973 • 140 S. Cook Street, Barrington, IL
3. DAZZLE WITH DIAMONDS – M.J. Miller & Company, Inc. is offering 14% off all heart shaped jewelry for the first 14 purchasers from February 14th through the 16th plus a complimentary box of chocolates • 847-381-7900 • 123 West Main Street, Barrington, IL 60010
4. CHAMPAIGN TOAST – Surprise your sweetie at home with a custom gift basket filled with flutes, Champaign and chocolate from Kelley’s Cellars – Small ($35.00+), Medium ($50.00+) or Large ($75.00+) • 847.842.WINE (9463) • 100 E. Station Street Suite 160 • KelleyCellars.com
5. A FRENCH AFFAIR – The Barrington Country Bistro has arranged a little Mood Music this Valentine’s Day. A musician with an accordion will be playing French music in the dining room starting at about 7PM. For Reservations call 847-842-1300 • 700 W. Northwest Highway, Barrington, IL • BarringtonCountryBistro.com
6. TABLESIDE SERENADE – For a little romantic guitar with your dinner, head over to Brass Restaurant and Brewery Company where, for $75 per couple, they’re offering an appetizer, soup or salad, choice of three featured entrees, dessert and a Champaign toast. • 847.765.1200 • 105 Hollywood Boulevard, South Barrington, IL • BrassRestaurantAndBrewery.com
7. BARBERSHOP QUARTET - If you prefer the harmonies of a classic Barbershop Quartet, the Millrose Restaurant and Brewing Co may be your date destination this Valentine’s Day. The quartet will serenade the dining rooms between 6PM and 7:30PM on February 14th. They’re also dressing up the tables with fancy white linens and rose petals topped with complimentary chocolate covered strawberries for dessert. • 847.382.7673 • 45 South Barrington Road, South Barrington, IL 60010
8. NOW PLAYING AT THE CATLOW - Atonement – Catlow Showtimes Special Promotion: The Catlow Theater and Boloney’s Sandwich Shoppe. The theater is offering 2 movie tickets and a gourmet bag of carmel, cheese or mixed popcorn to anyone who purchases a $25.00 gift certificate at Boloney’s Sandwich Shop. For more information, contact Roberta at 847-381-0645, visit Boloney’s Website at Boloneys.com or the Catlow Theater’s website at TheCatlow.com
9. NOW PLAYING AT THE AMC SOUTH BARRINGTON - 27 Dresses, Atonement, Fool’s Gold & Juno, to name a few. AMC South Barrington Showtimes • 847-765-2262 • 175 Studio Dr South Barrington, IL 60010 •
10. FLOWER POWER - Check out the selection online at the Barrington’s Fresh Flower Market. They’ve designed a variety of themed bouquets with names like “Cupid’s Kiss” and “Lady in Red” • 888-381-7800 • 122 Main Street • BarringtonFreshFlowerMarket.com
11. PASQUESI’S PICK YOUR OWN BOUQUET – For the first time ever, this Valentine’s Day Pasquesi Home and Gardens is offering a selection of freshly cut flowers for last minute Valentine’s shoppers who want to give a gift with a little hand-picked personality. They’ve ordered special shipments of a variety of flowers for customers to create assorted bouquets. They’ll offer the flowers through Valentine’s Day, while supplies last. The prices range from $6.99 to $39.99. Plus, their entire floral department and all indoor plants are 25% off through February 17th. Pasquesi Home and Gardens • 847.381.5511 • 990 W. Northwest Highway Barrington, IL 60010 • Pasquesi.com
12. TIPTOE THROUGH THE TULIPS - The Barrington Flower Shop has a bunch of Valentine’s Day specials. Pick up 12 long-stem roses for $85.00, a bubble bowl of mixed tulips for $55.00 or a clear square vase with red rocks and white dendrobium orchids for $50.00 • 800-382-4090 • 201 S. Cook Street, Barrington, IL • BarringtonFlowerShop.com
13. HEART SHAPED PIZZA - Lou Malnati’s Pizzeria puts a little romance into their pies. Finished with pepperoni, sausage or your favorite pizza toppings, this is one delivery that will delight your valentine. Lou Malnati’s in Lake Zurich delivers anywhere in Barrington. One heart shaped pizza is the size of a small deep dish and perfect for two. It’ll cost about $10.00, plus more for extra toppings. Delivery is an additional $2.50. Lou Malnati’s Pizzeria • 847-550-8800 • 1225 Rand Road, Lake Zurich, IL
14. HEART SHAPED CHEESECAKE - If pizza’s not your thing, Lou Malnatis will deliver a heart shaped Eli’s Cheesecake. The white chocolate cheesecake filling sits on a chocolate crust and is finished with a delicious raspberry topping. The special delivery costs about $8.00.
15. LOVE POTION – The Baristas at Starbucks are serving “The Coffee of Love” this week. Sip the flavors of Verona while you share a chocolate cupcake, marble pound cake or delicious toffee almond bar • 847-842-8048 • 125 South Hough Street, Barrington, IL
16. PASSIONATE PASTRIES - Sugar gets sensual at Ambrosia Euro American Patisserie. Share tastes of some very luscious, very velvety & very special chocolaty sweets created especially for Valentine’s Day. You’ll find the food of the Gods at the Foundry. They’re all natural, with no artificial ingredients. • 847-304-8278 • 710 W. Northwest Highway, Barrington, IL 60010 • DiscoverAmbrosia.com
17. CUPID’S COOKIES - Clarke’s Bakery and Deli is offering chocolate dipped or red dipped heart shaped cookies, decadent strawberries dripped in white or dark chocolate and chocolate or vanilla petit fours • 847-381-5113 • 455 West Northwest Highway, Barrington, IL 60010
18. A CASUAL AFFAIR - The Onion Pub & Brewery is cooking up a special Valentine’s Day Menu with appetizer specials, surf and turf, unique desserts & drink specials • 847-381-7308 • 22N221 Pepper Road, Lake Barrington, IL • OnionPub.com
19. MASSAGE A TROIS – Buy two massages, get one for free at Massage Movement. It’s a $255 value for $170. Massage Movement • 847-304-5112 • 202 South Cook Street, Suite 206, Barrington, IL • MassageMovement.com.
20. PLEASED TO PAMPER -Xanadu Day Spa $200 Valentine’s Day Package – Dark Chocolate Facial, Rose Manicure and Pedicure and Aromatherapy Massage • 847-382-5555 • 109 South Cook Street, Barrington, Illinois • DayinXanadu.com
21. BREAKFAST IN BED – French toast, fruit juice or plain old toast and cereal. Beat your Baby out of bed and surprise her with breakfast between the sheets. For an extra touch, surprise him or her by bringing out the best china and silverware. Top it off with a flower and a little love note and, voila, bon appetit mon petit chou.
22. BREAK OUT THE BUBBLES -Shock your soul mate by setting up a luxury spa at home with fresh towels, fine smelling soaps and a tub full of fragrant froth. For a few fancy touches, visit Yves Delorme at the Foundry • 847-381-6005 • 700 West Northwest Hwy. • YvesDelorme.com
23. GET PHYSICAL AT GOOD SHEPHERD - From February 6th through the 15th, get $5.00 off for a one hour massage gift certificate or $5.00 off a single session of UV tanning. Or…sign up for duet pilates, anytime.  Session: 2 people – 1 coach  for 1 hour is $65.00. 847-620-4500 • 1301 S. Barrington Road, Barrington, IL • AdvocateHealth.com
24. TRIP TO THE TROPICS - Tropical Smoothie Cafe – The Tropical Smoothie Café just opened in Barrington this month by Staples at 500 N. Hough Street. They’re celebrating Valentine’s Day by offering guests a free 24 Ounce Smoothie with the purchase of a wrap, sandwich or salad from February 14th through February 16th. Take a break from the sub-zero temperatures and the snow by being transported to the tropics in this brightly colored café accented by bamboo and thatched roof. • TropicalSmoothie.com
25. TSHIRT TATTOOS – Bring in a T-shirt and fill in the blank to create your own custom tattoo that comes off with the wash. “Hot Mama” – “Main Squeeze” – whatever your moniker, Cricket Classics will embroider a tattoo on your T-shirt with the name of your choosing for $16.00. Cricket Classics • 847.277-7440 • 200 S Cook Street. Barrington, IL
26. GET COOKING - Sign up for a hands-on couple’s cooking class at Cucina Della Rosa Cooking School. For $75 a person, you’ll learn to cook up a five course feast. The chef instructor, Mary Rose Hoover, specializes in Italian fare and teaches classes out of the kitchen studio at McCauley Design • 847-650-9463 • 211 Park Avenue, Barrington, IL • MaryRoseCooks.com
27. TRUE LOVE’S TAKE-OUT - For a little Gourmet Grab-and-Go, stop by La Pomme de Pin & pick up a meal made in someone else’s home. This week’s dinners to-go include whole roasted chickens and roasted veggies, chorizo stuffed chilies, pork mole & chicken stuffed tamales. For dessert bring home a bag of “Love Cakes” or frosted heart-shaped sugar cookies. Open from 10-7PM • 847-382-0753 • 114 Applebee, Barrington, IL 60010 • PommeFoods.com
28. ROMANTIC READS – If your love bug is a book worm, drop by the bookstore or library and pick up a classic romance novel like Jane Eyre, Pride and Prejudice or Wuthering Heights – BarringtonAreaLibrary.org
29. VALENTINE VIDEOS – Hit the movie store and rent some romantic classics. Here are a few that might help bring back that lovin feeling: Gone with the Wind, Casablanca, Roman Holiday, Breakfast at Tiffanys, When Harry Met Sally, Dirty Dancing, You’ve Got Mail, Moonstruck, Sleepless in Seattle, An Affair to Remember, Ghost, Titanic, Doctor Zhivago, Pretty Woman – Hollywood Video • 847-842-9807 • 106 North Northwest Highway Barrington, IL • HollywoodVideo.com

FOR YOUR MAN

30. BUY YOUR HOTTIE A HOT DOG - Woodies Chicago Style Hot Dogs and Papa Joe’s are adding a little sizzle to their menus with 10% off all menu items from Valentine’s Day through the end of February • 847-381-6766 • 232 East Main Street, Barrington, IL 60010
31. LOVE AT THE CAR WASH - Even Fast Eddie’s Car Wash has a romantic side. They’re offering two Valentine’s specials through February 17th. Purchase a $100 gift card and receive an additional $25.00 complimentary gift card or purchase a $50.00 gift card and receive a $10.00 complimentary gift card. • 847-381-0530 • 330 W. Northwest Highway
32. TEASE HIM WITH TOOLS - Surprise him with that cordless drill or power saw he’s always wanted or build a beautiful bouquet of wrenches, hammers and screwdrivers Barrington • Ace Hardware • 847-381-1037 • 189 West Northwest Highway, Barrington, IL
33. SING HIS PRAISES - It might be tough, but find a way to compliment him on something he did – & express your thanks in song – karaoke style. Some options: “Let’s Get it On,” “Do Ya Think I’m Sexy,” or “Wild Thing”.
34. RADIO ROMANCE – If you’re like us, you might not want to admit it. But let’s be honest, sometimes it’s hard to turn the dial during those sappy dedication radio shows. Whether it’s Casey Kasem, Delilah or John Symon’s “Love Notes” on Chicago’s WLIT, there’s something shamefully addictive about listening to other people’s love shout-outs. You can make your own love requests and dedications by calling Chicago’s own John Symon’s “Love Notes” 7-9PM Daily at the WLIT Request Line, (312) 591-9548 (W-L-I-T) • “Love Notes” or Delilah’s request line at 1-888-6Delilah • RadioDelilah.com.
35. LOVE ALARM – Here’s a trick that’ll scare the pants off of your partner, in a loving way. Pick up a battery powered alarm clock, attach a love note, set the alarm for a special yet strategic time and plant it in a secret spot in your lover’s car, office or briefcase. If you take time to make time, you’ll end up with one surprise that he or she will never forget…and will hopefully forgive you for later.
36. PASSIONATE PROSE – Swap your keyboard for a calligraphy pen & send your sweetie a hand-written love note. For a surprise twist, pack it with their lunch, tuck it into their coat pocket, hide it in their hat, let her find it in the freezer, in his favorite box of cereal or plant it on their car seat.
37. ROSES ARE RED – To really win some brownie points, put on your poet’s hat and pen a Valentine verse or two. Click Here for tips on How to Write a Love Poem. Need to find words that rhyme with love, hottie or cupcake??? check out RhymeZone.com
38. PHOTO FINESSE - The folks at Wolf Camera in Barrington will help you create your own bound coffee table books. Bring in your favorite photos and you can assemble each page, including captions, with prices ranging from $6.99 to $75. They’ll make a 24′x36′ poster out of your favorite photo and have it ready in an hour. Or…they’ll etch your photo into a crystal heart for only $21.99 • (847) 277-7852 • 105 S Cook St. Barrington, IL • Wolf Camera
39. CUDDLE BUNNY – Wrap up with your Romeo in a blanket designed with a favorite photo image of the two of you. Pick a picture from a special trip, moment or occasion to help keep your memories close while you curl up on the couch. Go to RitzPix.com & find the throw blanket priced at $119.95.
40. SUCKER FACE - Put your main squeeze’s mug on the face of a large cherry flavored lollipop to create one sweet licker. All you have to do is upload the photo at RitzPix.com, drag the picture over the lollipop image and place your order. Each lolli is extra large (almost 4in) & the cost for six suckers is only $32.99 • RitzPix.com
41. PHOTO JEWELRY - For another nifty photo trick, use a favorite picture to design a piece of jewelry that will be sure to make her smile. Create your own photo necklace ($39.95) or bracelet ($89.95) at RitzPix.com, and voila, you’ll have a gift that’s so personal, it’s perfect.
42. MUSICAL MEMENTOS - Consolidated Music in Barrington hosts their biggest sale of the year each Valentine’s week. They’re offering special prices on their instruments, accessories & music books. You can even sign your little loved ones up for private lessons on almost all instruments for $20 per half hour. The store owner says it’s just one way they like to show their love for their customers. • 847-381-0164 • 420 W. Northwest Highway • Consolidated Music
43. MY VINYL VALENTINE - Dig out your records of yesteryear, unearth that old record player, turn the lights down low and let the turntable work its magic. You might find that those oldies are just what the love doctor ordered.
44. COME ON BABY LIGHT MY FIRE - Turn up the heat and create a little ambiance with a fireside picnic at home. Set the stage with a few candles, spread out a blanket and pillows and spark up the fireplace – just like they do in the movies. You might get a laugh because it’s JUST THAT CHEEZY. But it’s also easy, cheap and it’s the thought that counts.
45. GIFTS THAT KEEP GIVING – For every $100 you spend at GWhiz Gift Shop, you’ll get a $20 Spa Vargas gift certificate. Purchase a gift card online at ShopGWhiz.com and email it to your honey today for a quick and easy option. For kids, buy three Webkinz and receive a Lil’ Kinz Google Webkin FOR FREE • (847) 304-0255 • 724 W. Northwest Highway, The Foundry, Barrington, IL • ShopGWhiz.com
46. FOR YOUR FABULOUS FEMME – Drop by Angelina on Station Street, mention “The Luby Group’s” Valentine blog post and ask for a 20% off coupon (restrictions apply) • 847-382-6802 • 123 Station Street, Barrington, Illinois 60010 • ShopAngelina.com
47. WOOL STREET WOOERY - Come in from the cold at Wool Street Grill and Sports Bar, mention “The Luby Group’s” Valentine blog post and receive a complimentary cup of soup or chili through the end of February • 847-304-0313 • 128 Wool Street, Barrington, IL 60010 • WoolStreetGrill.com
48. PUPPY LOVE – February is National Dental Pet Care Month. Give you pooch a little lovin’ this Valentine’s day with a trip to the Doggie Dentist. Barrington Animal Hospital is offering $40 off your dog’s dental cleaning in February plus a free toothbrush & a sample of poultry or beef flavored toothpaste – YUM. Call 847-381-8100 for more info.
49. SURPRISE ATTIRE -
We’ll leave this one to your own imagination…Sometimes the best present is your presence.
AND FINALLY…OUR LAST IDEA… FOR VALENTINE’S DAY, 2008…
50. HUG YOUR REALTOR - Because we finally made it to number 50…and we’re fresh out of ideas. 
Please feel free to add any ideas of your own by filling out the message box below: 

Happy Valentine’s Day from The Luby Group!
*All offers subject to change at the discretion of individual business owners.
Tags: Valentine Ideas, Barrington, Values, Francesdas Famiglia, Barrington Flower Shop, Massage Movement, Barrington Ice Cream and Chocolate Shoppe, M.J. Miller & Company, Kelley Cellars, Barrington Country Bistro, Brass Restaurant and Brewery, Millrose Restaurant, Catlow Theater, Boloneys Sandwich Shop, AMC South Barrington 30, Barrington Fresh Flower Market, Pasquesi Home and Gardens, Barrington Flower Shop, Lou Malnati’s, Eli’s Cheescake, Starbucks, Ambrosia Euro American Patisserie, Clarke’s Bakery and Deli, The Onion Pub and Brewery, Xanadu Day Spa, Good Shepherd Health and Fitness, Tropical Smoothie Cafe, Cricket Classics, McCauley Design, Cucina Della Rosa Cooking School, La Pomme de Pin, Woodie’s Chicago Style Hotdogs, Papa Joe’s, Fast Eddie’s Car Wash, Wolf Camera, Consolidated Music, G Whiz, Spa Vargas, Angelina, Wool Street Grill

Barrington

Landa’s Lowdown – Why Aren’t Interest Rates Any Lower?

“Why aren’t the interest rates any lower?!?” The lament heard by loan officers everywhere. Contrary to the popular belief that when the Fed’s cut the Federal Funds rate that mortgage rates follow in lockstep; mortgage rates are actually about the same as they have been for the last three weeks. Which is, on average, 5.75% for the lowest-fee 30-year conforming loan. If you need confirmation; check out www.freddiemac.com. They provide a weekly survey that is minus any sales pitch or media spin.

It’s tough for hard working loan officers to overcome the media hype that accompanies a “dramatic” Fed move in rates. Is a 1.25% cut in 8 days in the Fed Funds rate “dramatic?” Absolutely. Does it mean that conforming loan rates are 1.25% lower than they were last month? Absolutely NOT.

Mortgages are priced off the 10-year Treasury bond – a wholly different instrument than the Fed Funds rate or the Fed discount rate. Currently, the yield on the 10-year note is hovering at around 3.60%. That yield gives us 30-year mortgage rates under 6%, which is much better that seven or eight months ago.

This move by the Fed will certainly help homeowners who are currently in adjustable rate mortgages. It can even be advantageous to recent home buyers who locked their rates in the 6.5% range last summer. Depending on the size of their loan, a refinance may be in order. And, it’s certainly a GREAT situation for home buyers in the market right now – they can buy more house for the same monthly payment they were looking at last year.

The rate cut seems to be having the immediate sought-after effect – a shot in the arm for the ever popular “Spring” housing market. Now is a great time to buy – there is lots of inventory out there to pick from and great financing options.

Written By:
Terri Landa
Mortgage Advisor
Coldwell Banker Home Loans
Office: 847-382-3780
Cell: 847-921-6817
Email: terri.landa@mortgagefamily.com
TerriLanda.ColdwellBankerHomeLoans.com

Tags: 60010, Barrington, Barrington Real Estate, Illinois, Mortgage, Interest Rates, Fed Rate Cut, Home Buyers, Refinance, FreddieMac, Home Financing

Barrington

How to Survive The Real Estate Apocalypse – Challenging the Media

Before we consider the latest economic forecasts, let’s start by separating Fact from Fiction. Here are some of the FICTIONS born from the buzz about today’s Real Estate Market:

• It is impossible to sell a home today and make a profit.
• Property values have stopped increasing and started decreasing throughout the Chicago Suburbs.
• Your home won’t sell unless it’s under-priced.

Here are some of the FACTS we’re facing in today’s Real Estate Market.

• Specific areas in the Chicago Suburbs are still seeing property values steadily rise, though not as rapidly as in recent years. 
• The most competitively priced properties are selling first – at a faster pace and with more appreciation in Chicagoland compared to many cities throughout the country.
• Today’s buyers are passing up on properties that are not in pristine condition or are priced for yesterday’s market.
• Market times are rising. The number of detached single-family homes listed for sale in October was enough to last 10½ months at the current sales rate. (National Association of REALTORS.)
• Existing home sales are nearing 5.67 Million for 2007, the 5th highest on record. That’s down from 6.48 Million in 2006, 7.08 Million in 2005, 6.78 Million in 2004, 6.18 Million in 2003 and about on par with the 5.63 Million sold in 2004. (National Association of REALTORS.)
• Home prices in 10 major metropolitan areas in October were down 6.7% from a year earlier – the biggest year-to-year decline since April of 1991. However, the same study shows that home prices in Chicago (as a whole) are only down 3.2%. (S&P/Case-Shiller home-price indexes.)

In the Standard & Poor’s Home Prices report that was just released, researchers looked at recent home sale prices in 20 cities. They included statistics from the Chicago real estate market in their analysis. The GOOD NEWS is that Chicago (which saw a -3.2% change from 2006 to 2007) did NOT top the list of cities where property values have dropped the most. That unfortunate distinction goes to cities like Miami (-12.4%), Tampa (-11.8%), Detroit (-11.2%), San Diego (11.1%), Las Vegas (-10.7%) and Phoenix (-10.6%). The BAD NEWS comes in the form of a quote, which is attached to the report. Yale economist and creator of the home price indexes, Robert J. Shiller says, “No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim.” The chart below shows how Chicago compares and illustrates an interesting and important point.

Single Family Home Appreciation Comparison by City
(Source: Standard & Poor’s Data Through October, 2007)

Do you see Chicago? It’s the green line kind of close to the middle that doesn’t spike very high or very low. Since 2000, Chicago’s line increases steadily, with a relatively mild turn in 2007. The Chicago line mirrors that of our nice and stable Midwestern region, as a whole, which has been spared the extremes seen in the real estate markets that led the housing boom, like California, Florida and Arizona. And what about the cities that are in the best shape, according to this study, like Charlotte (+4.3%), Seattle (+2.2%) and Portland (+1.9%)? Home prices are still up from a year ago in these cities, but we don’t hear much about the places where the real estate market is steady and strong.

Having spent ten years as a journalist, I understand all too well what’s happening here. It has more to do with what reporters choose to highlight and what the media chooses to focus on. Speaking from experience, the worst or saddest news of the day is typically the lead story, especially when people are suffering.

We understand that these times are difficult for home owners who can’t afford their adjusting mortgages and are losing their homes due to foreclosure. We have clients whose homes are taking much longer than “normal” to sell and, like you, we’re taking a concerned look at how all of this impacts our own personal homes and investments. The tides are turning and the market is in the thick of a necessary and overdue correction. But we believe the media’s “one-size-fits-all” mode of reporting has contributed a great deal to the problem.

Just consider these headlines, excerpts, quotes and key words from some recent real estate news stories: “War? Disaster? Nuclear ambitions? What could derail the housing market?” “Falling House Prices are the Number 1 Danger to the Economy,” “Few are Optimistic,” “Brace Yourself for Real Estate Aftershock” “Mortgage Meltdown” and “Collateral Damage” top the list. Even economist Robert Shiller has said that “the collapse in home prices might turn out to be the most severe since the Great Depression.” Yet just last week the government reported that consumer spending in November grew at the fastest pace in 3½ years. Maybe we’re just too short sighted to panic about what the media might call the impending Armageddon here. We have definitely seen a change in the pace of appreciation. We can’t ignore the rising market times. We have conversations with frustrated sellers daily. But if our business is any indication, real estate remains a sage and steady investment for Chicago Suburban home buyers and sellers.

Looking back, real estate events in 2007 were, without argument from us, “unprecedented.” Many areas of the country saw declining house prices as buyer demand decreased and housing inventory increased to the highest level nationally in 22 years. Additionally, chaos in the mortgage industry resulted in lower home sales and a rise in foreclosures, compounding the market’s underperformance. It is likely that many of the problems plaguing 2007 will continue into 2008. However, as December draws to a close, we are optimistic that 2008 will be slightly improved with market conditions stabilizing and home sales regaining strength.

According to Lawrence Yun, the National Association of Realtor’s chief economist, “The worst of the credit crunch has already worked its way through the data and the strength of the Midwest market which is affordable and possibly even undervalued, will help raise the national median existing home price slightly in 2008.” Existing home sales for 2007 will most likely total 5.67 million, the 5th highest on record, and rise to 5.70 million in 2008, in contrast to 6.48 million in 2006. The 30-year fixed-rate mortgage is estimated to rise slowly to the 6.4 percent range by the end of 2008, with additional cuts in the Fed funds rate lowering short-term interest rates. Recent forecasts of a recession are tempered by a look at today’s unemployment rates, currently at 4.6 percent for 2007, unchanged from last year. Economists predict the rates will rise, though slightly, to 5.0 percent for 2008. Inflation as measured by the Consumer Price Index will likely be 2.8 percent this year and 2.7 percent in 2008, down from 3.2 percent in 2006. And as more home owners default on their loans, throughout the country, many are going back to renting. The home ownership rate in the third quarter stood at 68.2% of households, down from a peak of 69.2% in 2004. It’s a bitter pill for this group of home owners, but a trend to watch for those in the business of buying investment or rental properties.

Although the economy is fundamentally sound, unemployment relatively low and jobs gaining, our real estate outlook for 2008 is guarded. We agree that buying a home continues to be the single best long-term investment people can make. The fact that housing prices having adjusted downward over the past 18 months and interest rates remain relatively low bode well for a gradual recovery in the home sale activity beginning in 2008.

Written by Suzanne & Liz Luby
Coldwell Banker Residential Brokerage
303 East Main Street Suite 100
Barrington, IL 60010
Suzanne’s Cell: 847-922-7773
Liz’s Cell: 847-691-3150
Website: TheLubyGroup.com

Tags: Chicago Northwest Suburbs, Barrington, Inverness, Illinois, Real Estate, Homes For Sale, Market Trends, Real Estate Forecast for 2008, Appreciation Rates, Home Sale Prices, National Comparison, The Luby Group, Suzanne and Liz Luby, REALTORS

Barrington

Shazam’s “State of the Market” Report – November, 2007

Beep……………Beep………………..Beep….Beep……………………………..Beep……………………………Beep…..Beep………….BEEP………….BEEP…BEEP,,,,,,BEEP….BEEP..BEEP..BEEP
Whether we are talking about recovery on Grey’s Anatomy or in the Real Estate Market, the idea is the same. The recovery will likely be subtle, slow, and complicated by occasional setbacks. It is with hesitation that I even mention recent positive progress in our local real estate world for fear of jinxing it, however, it is undeniable that within the last six weeks the flat-line condition has seen some rhythmic improvement.

From late August until November 2007, we have noted an increasing number of home sales, particularly under $700,000. The properties that have been sold by The Luby Group during this period have been in beautiful condition and value-priced. Generally speaking, the buyers who purchased the properties realized that it is a tremendous time to buy a home with the interest rates still at near record lows, a great supply of inventory and motivated sellers. The real estate market appears to be coming out of its coma, but the recovery will undoubtedly be arduous in its efforts to return to complete health.

Economists from the National Association of Realtors are reporting nationally that “2007 will be the fifth best year for housing on record”. They are forecasting that existing-home sales will be about 5.5 million with two-thirds of metro areas showing price gains last quarter. Unfortunately, the real estate boom from 2001 to 2005 led people to believe that housing is a quick high-yield investment. Consequently, the public has had to adjust these unrealistic expectations and remember the fact that real estate continues to simply be what it has always been: a solid long-term investment. “Buying a home is not a quick-in, quick-out investment. Home ownership builds wealth over the long-term.” According to Lawrence Yun, NAR Chief Economist, a vast portion of the nation’s mid section is under priced in relation to income, and prices in some markets could rise notably with good local job gains.

I believe the outlook for real estate sales in the upcoming months is good for a number of reasons. There is obviously a certain pent-up buyer demand from those who chose to forego home purchases in 2007 due to the market being in a period of correction. Additionally, many buyers are regaining confidence that home ownership is a great long-term investment and that the 2007 time of crisis could turn out to be a great time of opportunity. The fact that there is ample housing inventory, job stability and favorable interest rates all bode well for the months to come.

In short, we are optimistic, because we are busy. Our phones are still ringing. Clients are calling. Buyers are still visiting our listings online in large numbers. People are still stopping by our open houses and asking us to email them information about new listings. We are writing offers and closing deals…and it’s NOVEMBER 15TH!  Thanksgiving is just one week from today.  Based on the markets we’ve seen, there’s never been a better time to be a home buyer. And if you’re selling, the buyers out there aren’t behaving as badly as you might think. They’re just taking a closer look and taking longer to digest the recent home sales data before biting the bullet. So please feel free to give us a call…STAT! Our real estate defibrillators are ready to go and we’ve got our fingers on the pulse of some of the best deals and most beautiful properties in town.

Written by Suzanne Luby (a.k.a. “Shazam“)
The Luby Group – Coldwell Banker Residential Brokerage
Barrington, IL 60010
Suzanne’s Cell: 847-922-7773
Suzanne’s Email: Suzanne@TheLubyGroup.com

Barrington

Barrington Area Market Data: 2005 Through 2007 – Single Family Homes, Townhomes & Condos

In an effort to help home buyers and sellers analyze the real estate market data that impacts their properties, we’re going to regularly post the latest market statistics right here on BurbFeeder.com and on TheLubyGroup.com. We hope you’ll visit us again for updated statistics and to help keep us on our toes. The data will be here!

“Torture numbers, and they’ll confess to anything.”
~Gregg Easterbrook

The chart below goes back three years to show a more recent comparison of properties that sold per month in Barrington. You’ll see the number of Units Sold, the Median Sold Price, Minimum Sold Price, Maximum Sold Price and Total Volume per month in 2005, 2006 and 2007. We have access to a wealth of real estate sales data for specific suburbs and neighborhoods. If you would like us to provide a statistical analysis of home sales in your community, please fill the details of your request in the contact form below. We’ll follow up right away. Thanks, Liz Luby

Tags: Barrington, Real Estate, Market Data, Statistics, Sold Properties, Median Sold Price, Median Sale Price, Minimum Sold Price, Maximum Sold Price, Total Volume

Barrington

We are Proud to Introduce – STATS CHICK

Finding real estate statistics for recent homes sales in your neighborhood or suburb has never been easier. Visit The Luby Group’s StatsChick page or StatsChick.com for analysis of the most recent market activity near your home.  You can hear Stats Chick’s explanation of The Luby Group’s Market Data Service by clicking on the triangular “Play” button below her.  For a more specific review of your area or for our interpretation of the statistics, please contact Suzanne & Liz Luby at 847-922-7773. Thanks for your time and please let us know your thoughts about Stats Chick. 

Barrington

SOLD – Immaculate and Like-New Property For Sale in Grand Pointe Meadows – West Dundee, IL – 60118

Grande Pointe Meadows Subdivision: Stunning 4 bedroom, 2-and-a-half bath property with hardwood floors, gourmet cherry and granite kitchen with octagonal eating area & soaring ceilings. Luxury master suite includes sitting area, walk-in closet & luxury bath. Double sliders from walkout lower level open to an extensive paver patio with custom barbeque & firepit. Call Suzanne at 847-922-7773 for more information or to schedule a showing. For more photos & virtual tours, please visit TheLubyGroup.com.
Directions: 72 West of 31 to Sleepy Hollow North to Oak West to 3rd Street on Right

Click Here for the List Price & Property Details

Click Here for Virtual Tours & Additional Photos

Proudly Listed by The Luby Group – Suzanne & Liz Luby
Coldwell Banker Residential Brokerage – Licensed in Illinois
Suzanne’s Cell: 847-922-7773 Liz’s Cell: 847-691-3150

Barrington

SOLD – Nearly Two Acres in Cheviot Hills – Inverness, IL – 60010

This Updated home is situated on a sprawling 1.75 Acre corner lot in desirable Inverness neighborhood, Cheviot Hills. The well-designed and inviting floor plan includes four bedrooms, a bonus room and a large finished lower level with a rec room for family fun. Enjoy a sunny enclosed porch, the warmth of three fireplaces, an updated kitchen w/granite and much more. Close to many conveniences including: O’Hare, train, tollways, Schools & shopping.
Directions: Ela North of Palatine Road to Bradwell West to Abbotsford to home

Click Here for the List Price & Property Details

Click Here for Virtual Tours & Additional Photos

Proudly Listed by The Luby Group – Suzanne & Liz Luby
Coldwell Banker Residential Brokerage – Licensed in Illinois
Suzanne’s Cell: 847-922-7773 Liz’s Cell: 847-691-3150

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