Buffalo Grove, Libertyville, Long Grove, Vernon Hills, and Palatine Real Estate

Wadsworth Home for Sale in Milbourne School District on 3.16 Acres!

Wed, 22 May 2013 10:34:08 -0700

www.40606NGoldenrodLane.com

This spectacular Wadsworth Home For Sale sits on a 3 acre gorgeous wooded lot with professional landscaping, screen in porch, storage shed, and 3 car garage. The interior of the home features hardwood floors, vaulted ceilings, 2 fireplaces, a newer custom kitchen, first floor office, first floor master suite, and a great finished basement perfect for entertaining...

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The Northern and Northwest Suburbs of Illinois is a wonderful place to live. If you are looking to buy or sell a home contact Sharron Kelley your local Realtor out of the Buffalo Grove Coldwell Banker Office at 847-465-3638, or email me at Sharron@northernillinoishomes.com. You can also visit my website at www.NorthernIllinoisHomes.com for all of your real estate needs. Click here to search homes for FREE.

Buffalo Grove Real Estate For Sale by Your Buffalo Grove Realtor!

Tue, 21 May 2013 13:36:46 -0700

www.2202BrandywynLane.com

This charming updated Buffalo Grove home for sale is a rare find! The home sits on a 1 acre lot with 17 trees, and has professional new landscaping. The interior features newer pergo wood laminate flooring, 4 bedrooms, 2.1 bathrooms, and a finished basement. The living and dining room are bright and spacious, and the kitchen has a great eating area. The master suite features a large walk-in closet that leads to the full master bath. The remaining bedrooms boast lots of light....

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Just Listed in Vernon Hills: Gregg's Landing Home For Sale!

Tue, 21 May 2013 13:34:14 -0700

www.1456NButlerCourt.com

This stunning Vernon Hills Home For Sale is located in the sought after subdivision of Gregg's Landing! This home features a great outdoor entertainment area with built-in grill, brick patio, spacious full-length deck, waterfall, and pond views. The interior features include vaulted ceilings, high end gourmet kitchen, amazing master suite with private balcony, and a fully finished lower level walkout basement....

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Magnificent Barrington Home for Sale: 25909 W Sunset Road!

Thu, 18 Apr 2013 11:51:06 -0700

www.25909WSunsetRoad.com

This Barrington Home for sale is located on nearly 3 acres, and overlooks a 2 acre pond. The home features cedar and stone exterior, panoramic palladium windows, natural stone and hickory hardwood flooring, contemporary finishes and fixtures, and uses green energy! This home is Some of the structural and mechanical features include: R-50 cold roof, 2x6 constructed walls, wet blown cellulose Insulated walls, High-efficiency double paned windows solar thermal panels, radiant floor heat....

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Adorable Round Lake Area Home For Sale!

Thu, 18 Apr 2013 11:49:51 -0700

www.34439AsterCourt.com

This Round Lake area short sale home is located in Prairie Pointe and is situated in a cul-de-sac with a wooded lot! The home boasts a master suite, family room with fireplace and sky lights, eat-in kitchen, and a full basement with a rough in for a bathroom. This home is sure to impress any buyer, and you just cant beat the location...

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Gorgeous Vernon Hills Home For Sale: 1937 N Turtle Bay Road!

Thu, 18 Apr 2013 11:48:07 -0700

www.1937NTurtleBay.com

This custom Vernon Hills home for sale has it all! The home is situated in Gergg's Landing on a cul-de-sac lot and overlooks the pond and 7th fairway! The home boasts a gourmet chefs kitchen, granite and hardwood floors throughout the home, in-law suite, stunning master retreat, and vaulted ceilings. The walkout lower level features a spacious layout with a bathroom rough-in and fireplace, and leads to the dog run and brick paver patio... Continue Reading Here!

Great Round Lake Short Sale for Sale in Valley Lakes

Thu, 18 Apr 2013 11:46:43 -0700

www.274SSpringsideDrive.com

This Round Lake Short Sale features awesome views to pond and open space. Finished walkout basement, huge master bedroom. Kitchen has has Corian countertops and large island & breakfast bar along with a large eating area. Big deck and patio to watch the beautiful sunsets! Large fenced yard with backing to open space.Full basement has bath and separate shower area. !st floor laundry. Nice front porch and minutes to Metra...

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Magnificent Vernon Hills Area Custom Home For Sale in Gregg's Landing!

Fri, 22 Feb 2013 08:17:51 -0800

This Parade of Homes Award winner in Gregg’s Landing is a magnificent 6,300 square feet 17 room custom home with panoramic views of Lake Charles & White Deer Run Golf Course. Premium upgrades include high-end custom kitchen, 6 bedrooms, 4.5 bathrooms...

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Amazing Long Grove Area Home on Oversized Tree-Lined Lot!

Fri, 22 Feb 2013 08:11:46 -0800

www.6205PineTreeDrive.com

Amazing Long Grove area home on tree-lined lot! This 4 bedroom, 2.2 bathroom home has features that are sure to impress, including: hardwood floors, recessed lighting, fireplace, upgraded custom kitchen, first floor office, wet bar, crown molding, amazing walk-in closets, 3 car garage, circular driveway, and oversized lot...

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Charming Single Family Home For Sale in Deerpath Subdivision

Fri, 22 Feb 2013 08:08:52 -0800

www.311AlbrightCourt.com

This 4 bedroom, 2.5 bedroom home is in a great cul-de-sac location in Deerpath Subdivision in Vernon Hills. This home boasts an all seasons room, hardwood floors, master suite, fireplace, first floor office, and has a spacious yard...

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Great Hainesville Townhome for Rent in Cranberry Lakes

Fri, 22 Feb 2013 08:01:14 -0800

This townhome is available for rent and ready for an immediate move-in! Come see what this gorgeous home in the Cranberry Lakes subdivision in Hainesville, Illinois has to offer. Some of this home's great features include: open layout, finished lower level with family room and garage access, great local amenities, a spacious master bedroom, a great second bedroom, a loft that is easily converted into an office or third bedroom, balcony, custom paint, newer carpet throughout, and upgraded appliances....

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First Viewing of Award Winning Home: 1707 Pebble Beach, Vernon Hills

Thu, 07 Feb 2013 08:46:21 -0800

Come to the first viewing of this amazing Parade of Homes Award Winning Home!

1707 Pebble Beach Way, Vernon Hills, Illinois, 60061
Friday, February 8, 2013
4:30 pm - 8:00 pm
RSVP HERE

36711 N Yew Tree Drive- JUST LISTED

Fri, 25 Jan 2013 13:43:33 -0800

This Lake County area home sits on a premium lot with great views of the pond and woods in the backyard. The home boasts a great open floorplan, hardwood floors, vaulted ceilings, upgraded light fixtures, a partially finished basement, and a gorgeous multi-level brick paver patio. The master suite features a sitting room, amazing master suite bathroom, and spacious walk in closet...

Click Here To See This Lake Villa Area Listing!

Adorable Lake Bluff Townhouse Just Listed: 615 Smith Ave.

Thu, 17 Jan 2013 08:44:00 -0800

This stunning Lake Bluff area home could not be located in a more perfect spot! The home backs to beautiful landscaping and mature trees, and is in the Lake Forest school district! The home features new reclaimed maple hardwood flooring, a new kitchen with high-end stainless appliances, a unique sunroom with vaulted ceilings and wood beams, and all updated bathrooms...

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JUST LISTED: Stunning Custom Barrington Area Home: 120 Scott Road

Tue, 15 Jan 2013 09:04:37 -0800

JUST LISTED - $1,799,800 - 120 Scott Road, Barrington IL 60010

Click Here To See This Lisiting

This Home Features 4 Fireplaces and All Custom Mill Work Throughout, With Old World Hand Crafted Built-in’s. The High End Gourmet Kitchen Includes 48” Raised Upper Cabinets, Granite Countertops, Two Sub Zero Refrigerators, 2 Islands, plus more and a Floor to Ceiling Window Paned Eating Area With a Gorgeous View.

The Master Suite Has a Sitting Area with a Fireplace, a Completely Custom Closet and a Luxury Bathroom With His and Her Sink, a Spa Tub and Oversized Glass Shower. All of the Bedrooms in this Barrington Beauty Have Attached Bathrooms.

The 4500 Square Foot Full Finished Basement is set up for an In-law arrangement and walks out to the Amazing Pool Area. The Basement Features 2 Bathrooms, a Bedroom, Sitting Area, Full Kitchen, Great Room, Theater Room, Family Room and Exercise Room. What a Stunning Home!

Just Listed: Great Bartlett Area Townhouse with Stunning Wooded Views!

Mon, 14 Jan 2013 13:56:08 -0800

www.1287SummersweetLn.com

This gorgeous townhome boasts the best view on the block. The home backs to mature trees, and a wetland preserve allowing this home to be a private retreat. You truly get the best of both worlds with this home since it is located near main roads. The main floor boasts a floorplan that flows from the family room to the kitchen, making this a great home for entertaining.

Located just off of the kitchen are sliding doors that lead to the gorgeous private deck. The first floor living room gets lots of light from it's large windows and vaulted ceilings, and boasts a gorgeous fireplace. The eat-in kitchen features room for a table, a breakfast bar, updated light fixture, ceiling fan, and ceramic flooring. Located beside the kitchen is the lower level storage room, powder room with pedestal sink, and the laundry room which offers access to the garage.

The 2nd floor boasts a stunning master with a large wall-to-wall window that features the stunning views of the nature preserve. The master also features vaulted ceilings, bathroom access, and 2 large closets... a true master suite! The bathroom includes double vanities, maple cabinets, and hallway/master access. There is also a 7x8 storage room located upstairs, and is perfect for extra closet space. The 2nd bedroom has a walk-in closet, ceiling fan, and carpet.

If you are looking to buy, sell, or rent real estate in the Bartlett area please contact The Sharron Kelley Team today!

Palatine & Cook County Housing Market Predictions: Optimistic For 2013

Fri, 11 Jan 2013 10:27:39 -0800

This is the time of year that many people remove their home from the market due to weather conditions and holiday obligations, or simply do not list it at all. We are seeing subtle differences this year so far, and are predicting that the trends of 2013 will be the reverse of that. Housing supply is down 40% to 50% from last year. In some areas in the Chicagoland area, we are seeing significant improvement in the housing market. Some areas are even being affected by positive indicators that the trends are reversing, for example: decreasing listings, increasing sales volume, lower days on market, increasing Sales Price to List Price ratios. These are all positive indicators, however; Pricing (appreciation) is the indicator that is still falling behind.

Cook County Area Prediction

Cook County had an 8.24 months supply at the end of 2010, last year it was 7.63 months, and currently, it has dropped to 4.65 months. This is a -43.6% decline. Many other Illinois area counties show a 52% to 57% decline, and have a 4 to 5 month supply of inventory. This is awesome news as we head into 2013. It may be hard to judge the market with only a few weeks of the new year under our belt, but it should become more clear in the next quarter. This prediction is based solely off of trends and past statistics, and what leads us to this is that our current Supply of Inventory. Overall, our supply is down 40% to 50% from just one year ago, and in some areas is down 70% from 5 years ago.

Supply and Demand

When the supply exceeds the demand, the oversupply of inventory becomes a buyer's market, which puts a downward pressure on prices. An under-supply of inventory gives seller's an advantage, while buyers are scrambling for the best homes and are willing to pay more to get them. What is exciting is that in many cases throughout the Northern Illinois area, our supply is now considered a shortage supply. The following communities have a shortage of inventory: Arlington Heights, Buffalo Grove, Deerfield, Evanston, Glenview, Grayslake, Northbrook, Round Lake, and Vernon Hillsto name a few.

Renters Are Turning to Home Ownership

There are other indicators that can prove to be beneficial for residential real estate in Cook County area in 2013. Apartment rents are one factor that are influencing our market. Just in the past few years, we have seen many previous homeowners turn to renting while they waited for the market to recover. In doing so, the rental market became very strong. Rents have continued to rise, and this trend is now sending more affluent renters into the housing market, a trend that should continue in 2013.

New Construction Makes a Comeback

The demand for new construction is on the rise again. Land values have fallen, so the homebuilders who survived have reorganized or prioritized, and are now building more affordable homes that are smaller and more obtainable than they have in the past. Take a drive through subdivisions that halted building midway through development in 2006 or 2007. You will now see new homes rising from the dirt again. Check out local and national headlines too... the national home builders are profiting again. These are all great indicators that things are looking up.

Where do Distressed Properties Come In?

A negative factor that may be slowing the recovery of our market is the influence of distressed housing - short sales and foreclosures. But positives may be seen in this area as well. Three years ago, RealtyTrac.com reported that the typical Foreclosure property was selling 35% below market value, and short sales were selling 15% below market. In 2012, NAR reported that foreclosures were selling at 15% below market, and short sales were selling at 10% below market. In September 2012, Realty Times reported that buyers enjoyed a 7.7% discount on bank-owned properties. This trend can be seen that either distressed properties are catching up with the market, or the market has fallen to the level of the distressed properties. Either way, if a buyer has an option between a home that will be a smooth arm's-length transaction versus the complex issues surrounding the purchase of a distressed property, it may no longer be worth the hassle to deal with the distressed property. This is good news for home sellers. Another positive is that with these distressed properties, investors are active again. Many of these properties are relisted 2 to 4 months later, and have been purchased by investors and rehabbers, who have picked up the property at a great price, remodeled the cosmetic issues and are flipping the home for a profit or renting it for a period of time.

Remain Hopeful in 2013

Challenges remain with new tax laws and our government's deficits. Even with these challenges, unemployment is finally trending down from 9.8% from last year to 8.5% this year, and mortgage interest rates remain very favorable which can be a major factor for potential buyers. While sales activity is expected to be slow for the first quarter, activity is picking up now, and is building momentum into our Spring market. You can anticipate 2013 to be a great year for residential real estate in the Cook County area. We have seen a boost here at The Sharron Kelley Team, so contact us to sell or buy real estate in the Cook County area. The predictions are great, and the outcome of buying or selling is even greater!

Courtesy of A. L. Wagner Appraisal Group

Price Reduction in Old Farm Village: 70 Copperwood Dr., Buffalo Grove

Fri, 11 Jan 2013 10:23:42 -0800

70 Copperwood Dr, Buffalo Grove IL: Price Reduction: 279,900

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This is a great home located in Old Farm Village subdivision. The interior and exterior have just been freshly painted and there are many updates through out this home. The new mechnicals include a new attic fan, new back up sump pump, and a newer a/c and hot water heater. Upon entering this wonderful Buffalo Grove home, you will notice an open floor plan with vaulted ceilings and new carpet through out.

The kitchen has been updated with cherry cabinets, a stainless steel refridgerator, range, and microwave. There is a large eating area that has large windows over looking the spacious back yard.

The family room has a large screened in sun room that leads out to the patio and the fenced in yard. There are 3 bedrooms upstairs with the master bedroom having vaulted ceilings, a large master bathroom and a walk-in closet. The 2nd floor also has all brand new windows in every room.

3.8% Tax on Real Estate: National News

Fri, 28 Dec 2012 09:01:18 -0800

There is a 3.8% tax in the healthcare reform bill; however much of the information circulating on the Internet is grossly inaccurate – the tax is not a transfer tax, and it will not be imposed on all real estate transactions. The 3.8% tax will take effect beginning January 1, 2013.

The new tax will apply to high-income households and their “unearned” investment income, including capital gains, dividends, interest, and rents minus expenses. The tax could impact some real estate transactions, but with this tax being so complicated we cannot predict how it may or may not impact every buyer or seller. The new tax would apply only to households with adjusted gross incomes (AGI) above $200,000 for individuals, or $250,000 for couples filing a joint return.

The current capital gains tax law allows individuals to exclude up to $250,000 of profit from taxation, and $500,000 for married couples when selling a personal residence. The tax would only be imposed on the gain over the threshold amount. The 3.8% tax would apply to whichever amount is less an individual or married couple’s total investment income or the amount that their AGI exceeds the high-income threshold ($200,000 for individuals or $250,000 for married couples).

Are the net proceeds, on the sale of your personal residence going to exceed $250,000 of profit, as an individual or $500,000 as a married couple? Does your adjusted gross income exceed the high-income threshold of $200,000 if an individual, or $250,000 for a married couple? If yes to both, please seek advice from your Certified Public Accountant.

Examples:

John and Mary sold their principal residence and realized a gain of $525,000. They have $325,000 Adjusted Gross Income (before adding taxable gain).

The tax applies as follows:

AGI Before Taxable Gain $325,000
Gain on Sale of Residence $525,000
Taxable Gain (added to AGI) $25,000 ($525,000 - $500,000)
New AGI $350,000 ($325,000 + $25,000 taxable gain)
Excess of AGI over $250,000 $100,000 ($350,000 - $250,000)
Lesser Amount(Taxable) $25,000 (Taxable gain)
Tax Due: $950 ($25,000 x 0.038)

If John and Mary had a gain of less than $500,000 on the sale if their residence, none of that gain would be subject to the 3.8% tax. Whether they paid the 3.8% tax would depend on the other components of their $325,000 AGI.

The Bridgers own a vacation home that they purchased for $275,000. They have never rented it to others. They sell it for $335,000. In the year of sale they also have earned income from other sources of $225,000.

The tax applies as follows:

Gain on Sale of Vacation Home $60,000 ($335,000 - $275,000)
Income from other sources $225,000
New AGI $285,000 ($60,000 + $225,000)
Excess of AGI over $250,000 $35,000 ($285,000 - $250,000)
Capital Gain $60,000
Lesser Amount (Taxable) $35,000 (AGI Excess)
Tax Due $1,330 ($35,000 x 0.038)

Note: If the Bridgers rent the home for 14 or fewer days in the course of the year, the rental income is non-taxable and the results in the year of sale will be the same as shown above.

It is best to refer to your Certified Public Accountant for any tax advice, however if you are looking to buy or sell real estate in Northern Illinois, please contact The Sharron Kelley Team today!

Courtesy of Coldwell Banker

Just Listed: Gorgeous Condo in Downtown Palatine By Shopping and Train

Thu, 27 Dec 2012 08:42:42 -0800

235 N Smith Street #302, Palatine Illinois

This 2 bedroom, 2 bathroom condo is located in the heart of Palatine. This great condo is in the sought after Metropolitan building, and is perfect for buyers seeking a city feel in a suburb location. The kitchen boasts ceramic tile floors, stainless appliances, and overlooks the family room… Click Here to See This Featured Listing!

Price Reduction on Gorgeous Updated Deerfield Area Townhome!

Thu, 20 Dec 2012 07:51:56 -0800

739 Central Avenue - $399,000

Click Here To View This Listing

This Deerfield townhome is located in the South Commons subdivision near loads of shops! It features a freshly painted interior, open floorplan, hardwood floors, vaulted ceilings, loft space, and a large finished basement.

The eat-in kitchen offers newer stainless steel appliances, maple cabinets, and granite counter tops. The first floor master bedroom has a walk in closet, and a great bathroom with his and her sinks and shower.

The second story boasts a loft with loads of light, hardwood flooring, custom decorative paint, and a ceiling fan. The two bedrooms feature hardwood flooring, large closets, and ceiling fans.

The home is only steps away from Deerfield Square shopping center, and just a quick walk to the train. This home is one that you will not want to miss, schedule a showing today with The Sharron Kelley Team!

Beautiful Palatine Area Condo For Sale... Right by Twin Lakes!

Fri, 07 Dec 2012 12:40:25 -0800

www.405CreeksideDriveUnit501.com

This great 2 bedroom, 2 bathroom Palatine condo located at 405 Creekside Drive #501 has features that are sure to impress. This gorgeous end unit has brand new carpet, granite countertops, a spacious balcony, and updated light fixtures. This Palatine area condo is located near main roads, which makes commuting easy, and near Twin Lakes Recreation Center, which makes time at home relaxing… Click Here To View This Listing

Stunning Vernon Hills Area Condo For Sale in River’s Edge

Fri, 07 Dec 2012 12:31:24 -0800

www.425BenjaminDriveUnit309.com

Stunning corner unit with an open floor plan and 2 balconies with wooded views. This unit has rich hardwood floors, large windows, and tons of upgrades. The home is accented with decorative and architectural details that are sure to impress! The gourmet kitchen includes 42” cherry cabinets with glass fronts, granite tops… Click Here To See This Listing

Price Reduction on Stunning Custom Home 120 Scott Road, Barrington IL

Fri, 07 Dec 2012 11:54:14 -0800

Price Reduction - $1,845,000 - 120 Scott Road, Barrington IL 60010

Click Here To See This Lisiting

Price Lowered on Old Farm Village Home- A Sought After Sub Division!

Tue, 27 Nov 2012 10:03:32 -0800

70 Copperwood Dr, Buffalo Grove IL: Price Reduction: 289,900

Click Here to See This Listing

The kitchen has been updated with cherry cabinets, a stainless steel refridgerator, range, and microwave. There is a large eating area that has large windows over looking the spacious back yard.