The Luby Group
Shazam’s “State of the Market” Report – November, 2007
November 15, 2007 by LizLuby · Leave a Comment
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
The Luby Group
Barrington Area Market Data: 2005 Through 2007 – Single Family Homes, Townhomes & Condos
November 15, 2007 by LizLuby · Leave a Comment
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
The Luby Group
SOLD – Immaculate and Like-New Property For Sale in Grand Pointe Meadows – West Dundee, IL – 60118
October 31, 2007 by LizLuby · Leave a Comment
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
The Luby Group
SOLD – Nearly Two Acres in Cheviot Hills – Inverness, IL – 60010
October 31, 2007 by LizLuby · Leave a Comment
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
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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
The Luby Group
SOLD – Best Pick in Kenilwicke – Palatine, Illinois – 60067
October 31, 2007 by LizLuby · Leave a Comment
Plenty of room inside and out in this spacious home on an interior lot with mature trees * Total remodel includes maple kitchen with granite, luxury master bath with jacuzzi and separate shower, family room with stone fireplace and stone bar, hardwood floors, skylights, fenced yard * You won’t be disappointed.
Directions: Hicks South of Dundee to Juniper, East to home on North side
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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
The Luby Group
FOR SALE – Waterfront and Maintenance Free – Lake Zurich, Illinois – 60047
October 31, 2007 by LizLuby · Leave a Comment
Super-sized end unit with over 3800 square feet of beautifully appointed living space. True gourmet Kitchen with stainless steel appliances, double oven, cooktop, granite, 42” Maple cabinets. Vaulted ceilings, dormer skylights, full finished lookout Lower Level. Countless upgrades. Premium waterfront lot with private courtyard, large deck overlooking pond and wooded views. Walk to Lake Zurich, beaches, parks and redeveloping Lake Zurich. A rare find!
Directions: Route 12 to North Old Rand Road East to Lakebreeze
Click Here for the List Price & Property Details
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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
The Luby Group
SOLD – Over Five Private Wooded Acres in Barrington Hills, Illinois – 60010
October 30, 2007 by LizLuby · Leave a Comment
26 Braeburn Lane – Barrington Hills, IL
List Price: $710,000
This brick Ranch on 5.23 private wooded acres is waiting to be updated or expanded. The home includes two fireplaces, hardwood floors
through-out, a large living room wwith bay window, screened porch, and a full basement. A great opportunity in Barrington Hills. Close to I-90, easy access to Ohare and 7 minutes to Metra.
Directions: Lake Cook (Main) West to Ridge North to Spring Creek West to Braeburn Lane, South
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Proudly Listed by Suzanne & Liz Luby of The Luby Group
Coldwell Banker Residential Brokerage – Barrington, Illinois
Suzanne’s Cell: 847-922-7773
Liz’s Cell: 847-691-3150
The Luby Group
FOR SALE – Gorgeous Lake Zurich Townhouse – Lake Zurich, IL – 60047
October 29, 2007 by LizLuby · 2 Comments
This sophisticated Town Home is enhanced by many upscale amenities. Volume ceilings, sculpted carpet and faux painted walls fashion a unique blend of earth-tone colors. A cook’s gourmet kitchen, three bedrooms, three-and-a-half baths and a full finished lower level complete this elegant residence.
Directions: Route 12 (Rand Road) To North Old Rand Road East to Lakebreeze Left
Click Here for the List Price & Property Details
Click Here for The 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
The Luby Group
Lovely Ranch on One Acre Next to Moraine Hills State Park – McHenry, IL – 60051
October 29, 2007 by LizLuby · Leave a Comment
Live beautifully in this impeccably appointed 3 Bedroom, two-and-a-half bath Ranch situated on a lush interior acre adjacent to Moraine Hills State Park. Home offers grand formal spaces, lavish private quarters and the highest quality finishes including: vaulted ceilings, skylights, finished lower level, fenced yard & deck and gorgeous perennial gardens. Open sun-kissed floor plan. Special Value Pricing Good for contract before 11/15/07
Directions: Route 31 North to Bull Valley/Chas Miller East to River North to Elmkirk East
Click Here for the List Price & Property Details
Click Here for the Virtual Tours and 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
The Luby Group
On the Lake AND By the Beach in Island Lake, IL – 60042
October 29, 2007 by LizLuby · Leave a Comment
This serene lakeside home is adjacent to a sandy beach on Island Lake. The Living & Dining Rooms offer views of a mature landscape & lake. An enclosed porch/Family Room has multiple windows & a door to the expansive deck overlooking the yard & private dock. The updated kitchen includes a breakfast bar. Four bedrooms and two full baths complete this picturesque cottage.
Directions: 176 West to Eastway North to Fern West to Park Dr South to Second house on left
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
We are a group of experienced REALTORS who counsel home buyers & sellers in Chicago's NW Suburbs to help them achieve their real estate goals in any market. 