Archive for January, 2011

NORTH SHORE GOURMET GROCERY STORE TO OPEN IN LONG GROVE/BUFFALO GROVE AREA

NORTH SHORE GOURMET GROCERY STORE TO OPEN IN LONG GROVE/BUFFALO GROVE AREA

Sunset Foods is scheduled to open its 5th store on January 26th. Located on Aptakisic and Rt 83 in Long Grove, this 50,000 square foot store will have everything you always wanted but didn’t want to travel for. Well, travel no more, it’s all going to be here  right in Buffalo Grove’s back yard.

If you’ve never experienced shopping at Sunset be ready for a feel good experience. You’ll find everything you need coupled with great service. I don’t want to spoil any more surprises you’ll find there, so go and let me know what you think.

What Are Buffalo Grove Real Esatae Prices Going To Do?

SHOULD I BUY NOW OR LATER?

Price graph for Buffalo Grove Real EstateThis is a question people keep asking me on a daily basis. Let’s look at some basics. Real estate inventory in the Buffalo Grove area is going up, unfortunately buyer interest is not going up at the same pace. Prices were down, counting all single family homes in Buffalo Grove, from 2009-2010 -2.8%. There will probably be more short sales and foreclosures based on people who bought in 2005-2006 with either 5 or 7 year interest only loans.  When those loans reset,there will be more homes to coming on the market, and a good chance prices will go down. My feeling is we will see a decrease of 3-5% in single family prices.

All of this is predicated on the economy and jobs. The other factor is interest rates. My feeling is interest rates will rise, slightly, but never the less rise. A 1% rise in interest rates means a buyer loses 9% purchasing power.

So you have to decide what do you want to gamble on, price or rate? Still not sure what to do,but would like to lock in a low rate. Call me, I’ll tell you how we can play it.

Condo and Townhome Sales-Buffalo Grove

Buffalo Grove Real Estate Sales Condo’s and Townhomes

The number of transactions remained nearly the same for 2009 and 2010.

The sales prices fell 12.6% from 2009 to 20010.

The sales prices from 2007-2010 fell 18.9%

Buffalo Grove Condo Sales 2010

Are you thinking of SELLING/BUYING? Have to consider a short sale or foreclosure? Call me at 847-867-2972, or email me at your convenience.

Now is the time to go to a professional to get a true assessment of your situation.

Aerial Photos© Copyright 2011. Pictometry International Corp

Buffalo Grove Home Sales Over $500,000

The other day we looked at the results of detached homes in Buffalo Grove in relationship to prices,and how they did from 2007-2010,and from 2009 -2010.Let me add one more piece of information regarding homes from $500,000+

Homes Priced from $500,000+ Buffalo Grove

From 2009-2010-Units sold went down from 145 in 2009 to 107 in 2010.Sales prices dropped 3.7% from 2009 compare to 2010

From 2007-2010-Units remained the same for 2007 as well as 2010.Sales prices dropped a cumulative 7.2%,when comparing 2007-2010.

Buffalo Grove Homes Priced over 500000

Are you thinking of SELLING/BUYING? Have to consider a short sale or foreclosure? Call me at 847-867-2972, or email me at your convenience.

Now is the time to go to a professional to get a true assessment of your situation.

Aerial Photos© Copyright 2011. Pictometry International Corp

Buffalo Grove Real Estate Sales and Outlook

Buffalo Grove Market Comparison 2010-2011So, it’s a new year, 2011. Let’s take a look at how real estate in Buffalo Grove has been doing.

If we take a look at all detached residential sales in Buffalo Grove for 2010 we come up with 230 units. This is an increase from 2009 when there was 208.

But how are prices doing?

If we compare 2009 to 2010 we see a decrease in average sold prices from $360,327 in 2009 to $350,170 in 2010. Approximately 2.8% less.

Go back to 2007 till 2010 and you will see at drop in prices of 16.1% for detached homes for Buffalo Grove real estate.

It appears the worst is over. We should be bumping around the bottom for 2011, with a little rebound starting in 2012.

If you have questions about the current market conditions or would like to buy or sell in Buffalo Grove or the surrounding areas, please don’t hesitate to call me at 847-465-3639 or email me