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Schaumburg, IL

Homes for Sale in Schaumburg and Hoffman Estates IL - Lyn Sims (847)230-7324 - Schaumburg Realtor

Lyn Sims - Northwest Suburban Chicago Homes: Real Estate Agent in Schaumburg, IL

Now is a Smart Time to Buy! Here's what's Available by Price Range in Hoffman Estates and Schaumburg!


Now is a great time to buy a home, say the financial gurus at the Wall Street Journal, so GET OFF THAT FENCE!Schaumburg IL,Hoffman Estates IL, (Not to mention is just huuuurtsssssssss your keester after awhile!)

The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their advice is solid, it's not revolutionary, but some potential customers might find it reassuring.


Remember this is a place to live not a stock market investment, they say. Lenders want buyers to spend no more than 28 percent of their gross monthly income on mortgage payments, real estate taxes, and home insurance. Buyers shouldn't count on stretching further because lenders won't approve their loans.

  • Cash is king. Having enough money in the bank to pay closing costs that are typically an additional 2 percent to 3 percent of the price of the home is necessary.
  • Location, Location, Location. As any good real estate professional knows, homes in good school districts where the crime is low are much more likely to hold or increase their value.
  • Compare. Besides just looking at the comps(houses that sold), buyers should examine what it would cost to rent a similar house in the same area and they might consider what it would cost to buy land and build a comparable home.
  • Think long haul. It will probably take at least six or seven years of living in the house to be able to sell and come out ahead.

Hoffman Estates IL,Hoffman IL,So this is how the my market graphs work. Let's say that your pre-approved purchase price is in the $250,000 to $300,000 range and you would like to start looking for a single family home. There are currently 86 home selections in that range in both Hoffman Estates and Schaumburg

OR

You are looking for a townhouse or something similiar in the $250,000 to $299,000 price range and your current selections are 86 shown in the lower graph for Multi-family homes.

Area Market Survey CriteriaStatus: Active Property Type: Detached Single Area: Schaumburg, Hoffman Estates
Lyn Sims RE/MAX Suburban (847)230-7324
List Price Range # Listings Avg. Days on Mkt
$150,000 - $199,999 3 87
$200,000 - $249,999 40 165
$250,000 - $299,999 86 202
$300,000 - $349,999 72 152
$350,000 - $399,999 82 157
$400,000 - $449,999 36 181
$450,000 - $499,999 54 167
$500,000 - $549,999 23 164
$550,000 - $599,999 15 142
$600,000 - $699,999 35 196
$700,000 - $799,999 24 124
$800,000 - $899,999 3 183
$900,000 - $999,999 4 178
$1,000,000 - $1,999,999 2 237
$2,000,000 - $2,999,999 1 244
Active Listings Summary
# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume
480 169 $374,900 $424,680 $2,495,000 $167,900

Area Market Survey CriteriaStatus: Active Property Type: Attached Single Area: Schaumburg, Hoffman Estates
Attached Homes - Condos, Duplexes, Townhomes, etc.
Lyn Sims RE/MAX Suburban (847)230-7324
List Price Range # Listings Avg. Days on Mkt
Less than $149,999 174 164
$150,000 - $199,999 274 146
$200,000 - $249,999 174 142
$250,000 - $299,999 71 130
$300,000 - $349,999 28 112
$350,000 - $399,999 12 168
$400,000 - $449,999 7 173
$450,000 - $499,999 4 137
$500,000 - $549,999 3 68
$550,000 - $599,999 3 217
$600,000 - $699,999 2 170
Active Listings Summary
# Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume
752 147 $189,900 $202,905 $674,900 $69,900

Like the Wall Street Journal article said, this is a great time to start looking for a new home, purchase a larger home, or retire toSchaumburg IL,Hoffman Estates IL, something more manageable! Interest rates are expected to be lowered once again which makes it even more affordable!

My homesearch website makes it easy to get started finding your new home! My site offers purchasing advice, selling advice, mortgage calculators, mortgage advice and dictionary, home inspection advice, school district info, METRA info, community and town info too! No need to jump from site to site - all the homes listed in the MLS for sale are in this site!

Having someone in your corner with over 20 years experience will ensure every detail of your purchase is handled smoothly! Looking forward to hearing from you!

Schaumburg IL,Hoffman Estates IL,

Lyn Sims at RE/MAX Suburban (847)230-7324 www.LynSims.net

Northwest Suburban Chicago IL homes for sale in Hoffman Estates, Schaumburg, Elk Grove Village, Bartlett, Roselle, Medinah, Itasca, Carol Stream, Bloomingdale, Palatine, Hanover Park, Streamwood, Elgin, Schaumburg IL,Hoffman Estates IL,South Elgin, St. Charles.

Lyn's Email: LynSims@remax.net

Homes for Sale in Schaumburg and Hoffman Estates IL©2008 Lyn Sims - RealEstateConsumerInfo.com All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it's display or use.

Ashton Park in Schaumburg

Lorraine Guderian: Real Estate - Other in Schaumburg, IL

Ashton Park in Schaumburg

Activity in Ashton Park for the past 6 months

Homes Sold Lowest Price Highest Price Average Price
2 $295,000 $320,000 $307,500

2 homes sold in Ashton Park in Schaumburg from $295,000-$320,000 with an average price of $307,500 within the last 6 months.

-Schaumburg-
Address City Beds Baths Model List Price Status
100 Summit Dr, 100 Schaumburg 2 2.1 Coventry $349,000 Active
148 Barton Cir, 148 Schaumburg 3 2.1 Coventry $383,000 Active
116 Barton Cir Schaumburg 3 2.1 Blair $299,999 Pending
125 Barton Cir Schaumburg 2 2.1 $295,000 Sold
40 Ascot Cir Schaumburg 2 3.1 Ashford $320,000 Sold

Arbor Glenn in Schaumburg

Lorraine Guderian: Real Estate - Other in Schaumburg, IL

Arbor Glenn in Schaumburg

Activity in Arbor Glenn for the past 6 months

Homes Sold Lowest Price Highest Price Average Price
1 $474,900 $474,900 $474,900

1 homes sold in Arbor Glenn in Schaumburg from $474,900-$474,900 with an average price of $474,900 within the last 6 months.

-Schaumburg-
Address City Beds Baths Model List Price Status
367 Arbor Glenn Blvd, 367 Schaumburg 2 3.1 Glenwood $674,900 Active
259 Arbor Glenn Blvd, 263 Schaumburg 2 2.1 Belaire Ii $449,900 Active
311 Arbor Glen Blvd, 311 Schaumburg 3 3.1 Newport $544,000 Active
307 Arbor Glenn Blvd, 307 Schaumburg 3 2.1 $649,900 Active
271 Arbor Glenn Blvd Schaumburg 3 2.1 Glenwood $526,900 Pending
LOT 1C Arbor Glenn Blvd Schaumburg 3 2.1 Newport $474,900 Sold

12 Oaks At Schaumburg in Schaumburg

Lorraine Guderian: Real Estate - Other in Schaumburg, IL

12 Oaks At Schaumburg in Schaumburg

Activity in 12 Oaks At Schaumburg for the past 6 months

Homes Sold Lowest Price Highest Price Average Price
1 $161,500 $161,500 $161,500

1 homes sold in 12 Oaks At Schaumburg in Schaumburg from $161,500-$161,500 with an average price of $161,500 within the last 6 months.

-Schaumburg-
Address City Beds Baths Model List Price Status
75 Kristin Cir, 209 Schaumburg 1 1 A3 $159,000 Active
130 Idlewild Ct, 8 Schaumburg 2 1.1 T-4 $235,000 Active
1760 Eastwood Ct, 10 Schaumburg 2 1 $229,900 Active
120 Kristin Cir, 2 Schaumburg 2 2 T5 $267,900 Active
111 Kristin Cir, 3 Schaumburg 2 2 Tg6 $218,900 Active
123 Willow Brook Ct, 4 Schaumburg 1 1 T1 $190,000 Active
130 Crestwood Ct Schaumburg 1 1 T1 $161,500 Sold

Home Seller Closing Costs - Lyn Sims (847)230-7324 Schaumburg IL Real Estate - RE/MAX Suburban

Lyn Sims - Northwest Suburban Chicago Homes: Real Estate Agent in Schaumburg, IL
home selling advice,selling advice,seller closing costs,Home Seller Closing Costs – there are more closing costs in the average real estate transaction than just the Realtors commission! Here are a few examples of standard closing costs in our area.


Survey - Sellers in Illinois are responsible for giving the prospective buyer a plat of survey of the property. The price for a plat of survey can range from $150 to $600. In our area it cannot be older than 6 months.

Recorded release of mortgage - Verifies that your mortgage has been completely paid off by the sale proceeds, usually $20 to $150.

Courier fee to pay off loan - Typically runs $50 to $100 or more.

Title insurance - The seller must provide a policy of title insurance for the buyer. The cost of the policy depends on the sales price of the home and its cost can vary from a couple hundred dollars to several thousand dollars. Some title companies have added additional charges to the basis title charge. These fees go by the name of “update fees,” “policy issuance fee” and the like. Some fees are as low as a couple of dollars and others up to $100. (Examples would be $200,000 is $1075 - $300,000 is $1275. - $400,000 is $1475. - $500,000 is $1675.)

Local city, town or village property transfer tax; county transfer tax, state transfer tax - The tax man cometh, and it could cost you, although the charges vary from municipality to municipality. In Illinois, the seller picks up the county tax ($.50 per $1,000 of sales price) and the state tax ($1 per $1,000 of sales price).

In most local municipalities, the seller also pays for a local transfer tax. In general, property transfer taxes can range from nothing to $10 per $1,000 of the sales price or more, or you may be assessed a flat fee. Examples below.

Elgin – nothing. There’s nothing better than zero and unfortunately it's rare.
Elk Grove Village - $3 per $1,000 of sales price.
Hoffman Estates - $3 per $1,000 of sales price.
Schaumburg - $1 per $1,000 of sales price. If you are also moving from one village location to another this fee is waived and costs $10.00. If you are a senior citizen the cost is $10.00.

Credit to the buyer of unpaid real estate taxes - Depending on how and when property taxes are billed in your county, it’s possible that you will have to credit the buyer 105% to 110% for real estate taxes that were for the time period you owned the home but will be billed after the closing date of the sale of your home.

Attorney’s fees
- If you choose to use an attorney (which you should by the way), you’ll either pay a flat fee starting around $375 or by the hour. Your attorney will prepare the HUD-1 which ishome selling advice,selling advice,seller closing costs, the closing document that lists all closing costs/fees for both the buyer and the seller. All or any of these fees will be added to your HUD-1 Statement for closing.

Broker’s commission - If you’re using a brokerage firm, expect to pay anywhere from 4 to 7 percent of the sales price. Include any sales incentives that are popular now to attract more buyers to your home.

FHA fees and costs
- All FHA fees used to be the responsibility of the seller, but they are now negotiable. But if the buyer can’t pay the fees, and the seller refuses to kick in a few bucks, the lender may not fund the loan. There can be points based on the mortgage amount in which 1% is equal to 1 point of the loan amount. Some areas also require a termite inspection which would be $75 to determine there is no termite infestation of your home.

home selling advice,selling advice,seller closing costs,Condo/co-op move-out fee
- A building charge that can range from nothing to more than $400. Some cooperative buildings can charge a percentage of the sales price to permit the sale of the coop. In some instances these fees can be as much as three percent of the sales price. In most instances it is a refundable fee that prevents damage to the common elements by either yourself or movers that are moving your belongings.

Association transfer fees
- Often required for condominium and townhouse sellers. Some of the fees are for processing the sales papers, move-out deposits, preparation of closing documents and even inspection fees. Fees range from $75.00 to $200.00 depending on your association.

Paid utility bills
- In many areas, local municipalities will not let you close until you have proved that you are current on your water bill. They will not issue your required transfer tax stamps without your paid water bill.

Certificate of compliance with building and zoning codes - Your local municipality may charge for inspecting your home prior to the sale to insure that it meets up to date code requirements. Such inspections can cost a nominal amount or run more than several hundred dollars plus the cost of fixing any items that are non-compliant. In addition, some municipalities charge a fee to verify the number of dwelling units permitted at a home being sold. The cost of such certificate can be nominal, but it may be a hassle to obtain the certificate.

Home Warranty
- Policy which guarantees to the buyer that all of the mechanical and electrical appliances are working on the day of closing and are guaranteed to work for the first year of ownership. The cost for a warranty starts around $350 and can increase as additional option items are added.

Association reserves - In some areas, the reserves held by condominium or homeowner association are credited to the seller on the basis of the seller’s percentage of ownership in the association. Fortunately, for the seller, this is one of the few instances of money coming back to the seller rather than a payment by the seller.

Special assessments to associations
- In many associations, if a special assessment has been levied, even if it can be paid over many years, the association will require that the assessment be paid in full at the closing.

home selling advice,selling advice,seller closing costs,Other credits to the buyer
- In some cases, sellers give credits to the buyer for things that don’t work, or don’t look nice, in their home. For example, if the buyer’s inspector finds something wrong in the house, you may negotiate a credit to the buyer that will be paid at the closing. The cost of this will vary.

Unpaid mortgage or home equity loan or line of credit
- At closing, the seller must pay off any mortgage and home equity lines of credit that are relating to the home being sold. The seller must remember that the prior months’ statement for the mortgage will not include the interest that is owed on the loan from the last payment date. Almost all mortgages are paid in arrears: you pay last month’s interest in the current month. Therefore, if you made your most recent mortgage payments, you will still owe interest for the current month until the loan is paid off on the closing day.

Short Sale or ‘Upside Down’ Loans
- Although it seems unbelievable that anyone could be upside down on his or her mortgage (that is, owe more on the mortgage than the house is worth), many sellers each year will find themselves in this position. If you do manage to find a buyer, and the amount being paid for the home will not entirely pay off your mortgage, home equity loan or line of credit, you’ll have to come to the table with cash in hand. If the lender “forgives” your loan, the IRS may see that as income to you, and you’ll be taxed on the phantom income as if you actually earned it, at your marginal tax rate. Talk to your tax preparer for more details.

It’s important to keep a list of your closing costs, as well as a copy of all your purchase and sales documents, so that you can accurately figure out your home’s cost basis.

home selling advice,selling advice,sellers costs,
Lyn Sims (847)230-7324 RE/MAX Suburban


Over 20 years experience in the Northwest Suburbs of Elk Grove Village, Schaumburg, Hoffman Estates, Roselle, Medinah, Itasca, Bloomingdale, CarolHome selling advice,selling advice,seller closing costs, Stream, Streamwood, Bartlett, Hanover Park, Elgin, South Elgin, St. Charles.


Home Search Website: www.LynSims.net Email Lyn at: LynSims@remax.net
Blogs: www.RealEstateConsumerInfo.com
www.TheBlogDog.net


Title charges from Chicago Title Insurance Schedule of Rates dated 8/1/08

Home Seller Closing Costs©2008 Lyn Sims - RealEstateConsumerInfo.com All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.