Oak Park Area – January 2009 Market Activity* With the real estate market playing a major role in today’s economy, many people are curious about their local real estate market. Here are the combined January 2009 statistics for Forest Park, Oak Park, and River Forest, Illinois.                       Detached Attached Number Closed     16        10 Days on Market   182        94 Avg Sales Price $443,969 $128,400 Avg SP:LP           93%      92% How does this compare with sales one year ago? January 2008 Oak Park Area Market Activity*                       Detached Attached Number Closed     24          18 Days on Market    139        171 Avg Sales Price  $524,704 $208,892 Avg SP:LP            95%       95% In terms of volume, single family home sales are down 33% and condos are down 44%. ... 02/11/2009

If you are interested in how to offer and Equity Lock Price protection plan with your home, please contact Keller Williams Realty Professionals, the premier provider of this revolutionary new product in the Oak Park, Forest Park, and River Forest areas.  We are on the cutting edge, offering our clients tools that other companies simply do not have.  That is what makes Keller Williams Realty one of the most innovative real estate companies in the market today. Call or email John Youker at (708) 725 - 9050 or JYouker@kw.comfor more information on this product.  We can schedule a meeting for you to come in to the office for a short meeting to learn how this tool can protect you as a buyer on the purchase of a home in a shifting or declining market, or help you as a seller attract that buye... 02/09/2009

If you are a Buyer considering moving to the Oak Park, River Forest, Forest Park area I am pretty certain you are aware of all the major benefits our communities have to offer. Benefits such as the great schools, historic architecture, culture and diversity, and the convenient proximity to downtown Chicago and both airports to name a few.  However, I would like to fill you in on some additional benefits you will enjoy when you make your move here. They are as follows:  · Great breakfasts at Grandma Sally's and Al's Grill · Baked  French onion soup at Golden Steer · Encrusted rack of Lamb at Marion Street  Grille · Stuffed artichoke at Mancini's · Soft shell crabs & sidewalk café at Poor Phils · Ice cream at Brown Cow & Peterson's · Pizza at Geppetto's · Homemade soups at George's · Pizz... 01/08/2009

With the "busy season" behind us for 2008, I'm sure you're wondering how the year is shaping up for the market in Oak Park. As of 09/30/2008, $185,953,123.00 worth of houses and condos were sold in Oak Park.  That's not too shabby,  especially compared with other suburbs: La Grange - $54.8M, Oak Brook - $33.5M, and River Forest - $47.3M. The Break-Down: 1st 3 Quarters of 2008(Data compiled from Midwest Real Estate Data LLC) Single Family HomesTotal # Sold: 286Average Days on Market: 137 daysAverage List Price:Sale Price Ratio: 95%Sales Price Range: $132,000 - $2,250,000 CondosTotal # Sold: 200Average Days on Market: 164Average List Price:Sale Price Ratio: 96%Sales Price Range: $55,000 - $555,000 If you would like or need to sell your home at this time, there are many buyers out there wh... 10/09/2008

  Remodeled 3-flat. Newer kitchens & baths in each. 2-car garage plus 3 spaces. Large deep lot allows for great back yard. Separate heat & utilities. Cable and DSL-ready on 1 and 2. 3 separate newer water heaters.If you are looking to have a residence and/or income property in trendy Oak Park, here is your opportunity.                                    For only $399,000   Contact: David Spencer             da-spencer@att.net 10/01/2008

In last month's column I wrote about a very outdated Bylaw that is contained in most condo Association‘s Declarations. This Bylaw, "the right of first refusal" is preventing the majority of qualified buyers from purchasing condos that are currently on the market. With the current real estate market being in the state it is in today most qualified condo buyers need to come up with at least 10 % down for a conventional loan. These buyers are good buyers with great jobs but simply do not have the ability to come up with a 10% down payment. However, they most likely can come up with at least 3% down and the only loan product that exists for them is the FHA loan. Well, according to FHA guidelines, condo Associations cannot in any way have this "right of first refusal" contained in the Declar... 07/30/2008

At the time of this writing, June  2008 there are about 600 condos and townhouses for sale in Oak Park, River Forest and Forest Park As you know all condominium associations have what is called condo "Documents and Bylaws" that for the most part outline the rules and regulations that govern that association. Over the years many of those bylaws were assembled by using what's called "boiler plate" or a predetermined master document that contains the basic guidelines. As an association becomes established these bylaws are amended to the wishes of that Association. One of the "boiler plate" bylaws contained in these documents gives the condo association the ability of what is called the "right of first refusal." What this means simply is that if a condo unit in a building that is about to b... 07/28/2008

Were you thinking Oak Park Illinois was just homes, local commerce and schools? Did you think it was only famous for the Ernest Hemingway‘s childhood home or Frank Lloyd Wright residence?  Well it has much more to offer its residence!  Try spending some time with your children, grandchildren or just yourself at one of the 24 amazing parks in Oak Park. From North Avenue to Roosevelt Road the city of Oak Park maintains parks and recreation for your family. Just to keep you in the loop, here is a list of some of the major over halls happening to the Oak Park Parks! You can visit the parks and recreation website for more details on the terrific job the city is doing renovating the parks here. They also provide some great pictures so you can get a feel of what is happening and where. Fox Par... 07/14/2008

Check out www.grubhub.com to find out!  Customize your search based on your location and cuisine preference.  See complete menus and even order online for many restaurants!  They also offset carbon emissions with carbon credits for every order placed on the site.  Check out some neighborhood cuisine today! Laurie Christofano, Realtor with The Pych Team @ RE/MAX In The Village, your #1 pick for local real estate services 06/30/2008

Oak Park is one of the loveliest areas in all of Illinois, if not the country, to call home. With good schools, neighborhood pride, cultural and recreation opportunities and an interesting and exciting history, it's the American dream personified.However, even paradise needs a tune up now and then - and that's where Oak Park's Single-family Rehabilitation Loan Program comes in!From the Oak Park Community Planning and Development website comes this great news for homeowners who would like to improve their current residences: Oak Parkers with qualifying incomes who own and live in single family houses are eligible for federally funded rehabilitation home loans. Designed to improve the Village's housing stock, the loans are intended to bring structures into compliance with housing and buil... 03/06/2008

Week of 12/6/07 - 12/13/07Single Family HomesNew Listings: 6Price Changes: 10Contingent/Pending: 9Closed Listings: 4Total Active Listings: 254Condos/TownhousesNew Listings: 17Price Changes: 6Contingent/Pending: 7Closed Listings: 6Total Active Listings: 334What does this information mean to you as a buyer or seller?  Feel free to contact me to find out how this pertains to your particular situation. Data Source: MLSNI (Multiple Listing Service of Northern Illinois) 12/13/2007

When it comes to Architecture, the Oak Park / River Forest area of Illinois is one of the most historically significant areas in the world!  For it is here that Frank Lloyd Wright had his first "studio" and created the now famous and easily recognizable form of architecture known as the Prairie Style. Dotted among the large stately mansions and tree lined streets of this area are Architectural masterpieces, created by Frank Lloyd Wright.  And due to this areas close proximity to Chicago, builders have found it profitable to tear down less desirable older homes and replace them with new homes featuring all the amenities today's homeowner enjoy. And this is where my staging story begins.Real Estaging was recently contacted by a builder who recently built a new home in River Forest. But th... 03/02/2007