D.R. Horton Homes Now Being Sold at Covington Lakes

D.R. Horton is currently selling the last remaining units at their Covington Lakes community, so be sure to act fast if you are interested in purchasing one of these Chicago new homes.

Covington Lakes sells four bedroom homes priced in the low $200,000s. The community was established in 2003, and D.R. Horton is now selling the last 18 units.

The homes at Covington Lakes combine comfort and luxury, and offer floor plans ranging from 2,475 to 3,100 square feet. Covington Lakes’ models offer large foyers and kitchens plus spacious bedrooms, which are perfect for a growing family.

Residents will enjoy community features such as ponds and wetlands, two parks and a paved bike path. There are even two elementary schools on site.

Located just five miles from I-90, Covington Lakes is only minutes from a variety of shopping and dining, including The Prime Outlets of Huntley and Algonquin Commons.

D.R. Horton also offers homes in several other Chicagoland locations, including Joliet, Pingree Grove and Plainfield.

To visit a furnished model home, call (847) 984-4554. For more information, visit the D.R. Horton website.

New Homes Available at Verona Ridge in Aurora

Orleans Homes is offering a chance to purchase a Chicago new home in Aurora.

Several floorplans featuring between four to six bedrooms are now available and the homes start in the $200,000s.

Homes at Verona Ridge offer three car garages, professional landscaping, and spacious backyards. Another stand-out feature of a Verona Ridge home is a bonus room that can be used as an office, game room or additional bedroom.

Additional luxury features include granite countertops, hardwood or ceramic tiled foyers and furniture quality oak cabinets.

Verona Ridge residents will also enjoy access to walking and bike trails. The town of Aurora also boasts plenty of shopping and dining options.

To schedule a tour of one of these homes, visit the Verona Ridge website or contact 630-907-1155.

William Ryan Offers Homeowner Customizations

William Ryan Homes is pleased to offer many customization options for Chicago new home residents. William Ryan’s Savannah model, located in their Highland Woods Community in Elgin, emphasizes putting the homeowner first.

The Savannah has four bedrooms and two-and-a-half baths. Homeowners can also select extra options such as a rear fireplace, extended family room and a second floor laundry room. Another great add-on is William Ryan's morning room, which is a room off of the kitchen that homeowners can use for extra dining space or turn into an office.

Homeowner preferences are so important to William Ryan Homes that the builder uses customer feedback to make updates to their homes. Homeowners also have access to William Ryan's MyHome 24-7 website to virtually decide which options will look best in their new home.

William Ryan also focuses on building 'green,' and all of their homes are Energy Star certified, which saves homeowners up to 40 percent on utilities!

The Highland Woods community offers many stand-out features, including an on-site elementary school as well as an exclusive owners club with a state-of-the-art fitness room and sports courts. Highland Woods is set on 196 acres of open space, which is perfect for families who love spending time outdoors.

To visit the Highland Woods community in Elgin, contact (847) 841-3891.

More Chicago Homebuyers Returning to the Market

More Chicagoland homes were sold last month than in any other month over the past five years.

According to the Illinois Association of REALTORS®, home sales in the Chicago area rose 28.5 percent in August compared to the same month the previous year. The 9,240 homes sold last month marked the best month for sales volume around Chicagoland since 9,733 homes were sold in August of 2007.

Home values are still falling, and this helps increase the number of home sales. The median price for metro Chicago real estate for sale last month was $170,000, a 3.8 percent drop from the $176,750 average in August 2011. Still, values are rebounding, and the median price for a home in the Chicago area is now $30,000 higher than the $140,000 median price recorded in January of this year.

The city of Chicago not only posted a 23.6 percent year-over-year increase in home sales last month, but the median price of a home sold in Chicago also went up, increasing 3.9 percent from $192,500 in August 2011 to $200,000 in August 2012.

Throughout the entire state of Illinois, home sales rose 23.7 percent in year-over-year results, which have improved for 14 straight months, but the median home price was $147,000, which is a drop of 0.7 percent from $148,000 in August 2011.

The National Association of REALTORS® also reports that U.S. home sales rose 7.8 percent last month to the highest level since May of 2010 due to the federal home buyer’s tax credit incentive.

“The housing market is steadily recovering with consistent increases in both home sales and median prices,” said Lawrence Yun, NAR chief economist. “More buyers are taking advantage of excellent housing affordability conditions.”

Home Building is Growing in South Chicago

Recent news from the Construction Market Report and the Southwest Suburban Homebuilders Association states that Chicago new home builders in the South Chicago market were issued 538 new building permits in the past year.

Permits were issued at 34 different locations in the South Chicago market between August 1, 2011 and August 1, 2012, totaling $146 million. The creation of new homes and new condos will help to strengthen the economy.

The National Association of Home Builders predicts that the local impact of these new permits will be $8 million in local income, $10 million in taxes and other revenue and a total of 1,300 new jobs.

The new permits were issued in Will County, Orland Park and Tinley Park and covered 18 townships and 16 municipalties. The permits were issued for a combination of condos, townhomes and single-family homes.

Here is a list of the top 10 builders in the South Chicago market.

1. Hartz Construction
2. O’Malley Builders
3. Cambridge, DRH
4. Beechen & Dill Homes
5. Pulte Homes
6. Burdelik Huilders
7. Carlson Brothers
8. Overstreet Builders
9. SSW Developers LLC
10. Flaherty Builders

Chicago Homes Selling at a Faster Rate

 

Some good news for Chicago homeowners who will soon put their house up for sale on the Chicago real estate market. A recent study by the National Association of Realtors reported that the time it takes to a sell a home is now decreasing.

In July 2012, the median time it took for a home to sell was 69 days. One-third of homes that were purchased in July were sold in less than a month, while one in five took at least six months to sell.

The reason for shorter selling times? Home inventory has decreased, and this means there is more of an equal balance between homebuyers and home sellers. It is also important to note that homes priced at a reasonable market rate will sell more quickly than homes listed higher than the market average.

Homes began selling faster last spring and continued to sell at a solid rate throughout the summer.  Around this time in 2011 homes were taking 98 days to sell, so this year’s numbers are quite an improvement.

During the housing boom of 2004 and 2005, it took about four weeks to sell a home. In comparison, homes took about 10 weeks to sell during the economic downturn of 2009.

Some homeowners are still afraid to put their homes on the market because they are concerned that prices may decline again. Others aren't selling their homes because they are underwater on their mortgage.

However homeowners will be pleased to learn that this positive trend in home selling is expected to continue, and that home prices have risen in recent months.

Be Ready to Pay to Earn when Investing

Investing isn't a magic place to put your money and make it grow for retirement and Chicago new home down payments - there are a lot of people behind each transaction to make sure that your money goes into the right place and is monitored. This is where additional charges come in, and it's important that you consider them before you choose which investment brokerage you are going to trade with. The Equifax Finance Blog has an article with a number of charges you should be on the lookout for in the new article, "Breaking Down Investment Fees and Commissions."
Here are just a couple costs which are common:

• Annual account fees - like many checking accounts do now, some brokerages charge for their serves in a yearly capacity in addition to other fees. In an IRA account, where your finds are used to build a portfolio for you, this is often referred to as the custodial account. Expect this to range anywhere from $25 to $100 or more.