Real Estate in Barrington & The Northwest Suburbs: Illinois: Lake Barrington

Lake Barrington Real Estate - Property Sales 2011

Lake Barrington Shores makes up a large amount of the housing in Lake Barrington, but there is more. Lake Barrington real estate includes about 900 single family homes most of which are located on 1 to 2 acre lots.

Before we look at sales of Lake Barrington real estate in 2011  it's interesting to look at new construction here. A few years ago two new larger subdivisions were created, Tallgrass and The Enclave of Heritage Estates. Another small one Walnut Grove also started.  All three came to a grinding halt when the market fell and have yet to show any signs of life.

New construction permits were in double digits until 2002, then they dropped to a slower rate of about 4 or 5 a year. 2008 and 2009 had one apiece and 2010 saw two new homes built. So while there is space in Lake Barrington real estate for new homes, it appears not to be on anyone's immediate agenda.

Now back to the activity in Lake Barrington real estate in 2011

Total sales of single family homes in 2011 amounted to 24 homes with sales prices from $304,000 to $875,000. Sales for Lake Barrington real estate were on average 93% of the asking price. That's good for sellers, but I have to say price reductions were still needed to get that sale. Sales price to the original list price was low at 84%. I hope this coming year will see a little more stability in Lake Barrington real estate, I too am a property owner here. I also hope sellers will list at the right price range for their home at the very start.

Lake Barrington real estate contracts for sale took on average 318 days in 2011.

Four bedroom homes were the most popular, followed by five bedroom homes, then 3 bedroom homes. Lake Barrington real estate has a lot of subdivisions that are under 20 years in age. So although new construction is not yet available, buyers can consider homes in Savannah, Heritage Estates, Kelsey Farms, Estates at Lake Barrington, Brookside and others to find homes in great condition with little need for upgrades.

Lake Barrington real estate offers many 21 single family homes and 56 town homes and condos for sale. View many at our property search.

I recently wrote a post about there being more to Lake Barrington than Lake Barrington Shores. So hot on the heels of that it seems the perfect time to look at the Lake Barrington real estate market excluding Lake Barrington Shores. (I write quarterly reports about the LBS market  if you want that data.)

Lake Barrington is a small village and as 1317 of the 2039 housing units are in LBS, it stands to reason that Lake Barrington real estate does not account for many sales on a year by year basis. Based on the statistics I pull from our MLS there are currently only 23 single family homes for sale in Lake Barrington. Another 3 homes are under contract and in the last 12 months Nov 11 2010 to Nov 11 2011 there have been 25 sales. So it looks as if we are on track to sell about the same amount this year as last.

With limited sales per year for an area it's better that I compare by year rather than by month, otherwise the data can be too random to make any sense. Lets look at two data points, probably that many Lake Barrington real estate owners would like to know.

1. What's the average marketing time?
2. What's the list to sales price ratio, again average.

I wish I had better news on the average marketing times. 11 months is a long time to wait for a sale if you are in the market to sell a Lake Barrington home.

What can you do to beat these odds?

Pricing is always important in a buyers market but there are other things that might help. Jazz up your curb appeal especially over the winter months. Be honest, take a walk around your home with a critical eye.  There might some some simple fixes you can do to help. Granted it might cost a few hundred or a one to two thousand to resolve things like dated wall paper, or an old bathroom, but it might secure you a faster sale so you can move on to your next home. A great time to get started if you want to sell in 2012, is right now. Let me know if I can help identify your homes weak points. Buyers today can afford to be picky.

Call Corinne 847-363-3686 or email

Lake Barrington Real Estate Has Lots to Offer

Sometimes I have to chuckle to myself and today was one of those days. I have just helped some buyers make a succesful offer on an Arlington Heights home and the Realtor and I were working out logistics of delivering paperwork and checks. Sometimes it's easier for us to go to an agents home rather than an office but when I told her I lived in Lake Barrington she instantly assumed I live in Lake Barrington Shores. She is not alone. I can count on more than the fingers on both hands how many times this happens.

So I am here to set the records straight because there is so much more to Lake Barrington than just Lake Barrington Shores. Lake Barrington Shores is a subdivision of Lake Barrington and is unique for our area. It is a gated community of mostly town homes with a few condos and does indeed make up a large proportion of the residences, 1317 of the 2252 total homes. But what about the other 935 residences?

The remainder of Lake Barrington real estate is devoted to single family homes in 32 seperate subdivisions. There are also 2 commercial subdivisions near Route 14. In the middle of the village area is Good Shepherd Hospital grounds but this area is not under Lake Barringtonjurisdiction, it falls under Lake County community.

Dear Lake Barrington Home Owner and Seller - I Would Have Been Honored

I thank you for taking the time to call me to see if I could help sell your home in Lake Barrington. I am sorry I was not available at the time you called but I called back within 10 minutes, not the next day or the day after that. So I am truly sorry we were not able to connect in time because I would have liked to help you sell your home in Lake Barrington with my extensive marketing plan.

I would have liked:

• To have listed your home in our MLS so other agents with buyers would know it was for sale.
• To have taken up to 100 photos of the home on a sunny day and added them to all my marketing.
• To have prepared a virtual tour so viewers could feel as if they were standing inside the home.
• Perhaps I would have bought the Flip Video Camera to capture the essence of your home and it's location in Lake Barrington - Yes I am sure I would have done that.
  
• To have showcased your home on my Barrington buyers web site, you see it is visited by over 1500 Barrington home buyers every month.
• To have written a blog post about the wonderful features your Lake Barrington home has so I can connect with a buyers emotional feelings.
• That blog post would have been published on two highly popular and read blogs which only contain information about Barrington.
  
• To have shown your home on my Facebook business page so all my followers could spread the word about your wonderful Lake Barrington home.

• To have added the video I did to You-Tube-who knows maybe it could go viral!
• Prepare a special website just for your home and a mini flyer posted to those blogs we talked about would ensure hundreds if not thousands of viewers would have seen your home.
  
• To advertise your home on hundreds of other real estate web portals. You know the big names like Yahoo, Google, Homes, Zillow, Trulia and so many more.
• Let's not forget Twitter-You know that little blue bird that makes announcements online. I would have to let my Twitter followers know about your lovely home.
• Of course if allowed and if you wanted I would put a nice Royal blue sign in your yard.
• Do you watch TV? Would you like to watch your home on Comcast. Gosh I have access to one of the best watched real estate channels. It's a little secret I learned about this year and I am not sharing with other agents how I do it.
• I had buyers with me on Sunday looking at Lake Barrington homes, perhaps I can bring them to see your home when it's listed.
  
• I know I have more marketing up my sleeve but hopefully by now you can see why I am sad.
  

I really would have liked to do all these things to market your Lake Barrington home.

You see not only do I work in Barrington but I also live in Lake Barrington and can help my buyers see what a wonderful place it is to call home. Maybe next time eh?

Contact:

Corinne Guest
Real Estate in Barrington
Royal Advocate Realty
Info@CorinneGuest.com
(847) 363-3686

Lake Barrington Illinois 2010 Year End Real Estate Market Report-Comparing Sales to 2009

If you want to live in the countryside in the Barrington area, consider Lake Barrington, view more about our village and all the subdivisions. Most homes are on acre or more lots and there are trees and preservation areas as well. It's just, well, like living in a "green and pleasant land".

So how did real estate fair in 2010 compared to 2009 in Lake Barrington.

Let's look at 2009 first.

There were a total of 16 sales with closed prices from $300,000 to $865,000

The median price sold was $560,000

The average sales price was $639,613

The average marketing time was 150 days

The list to sales price ratio of all the homes sold was an average of 92% of final list price. 

The list to sales price ratio of all the homes sold was an average of 67% of the original list price.

(This was due to over-pricing homes in the 4 bedroom category.)

If you are in the market to buy, view all the current listings for Lake Barrington in one place.

Now let's see how Lake Barrington real estate sales compared in 2010, it might give us a little insight into what to expect this year, 2011.

There were a total of 25 sales with closed prices from $250,000 to $1,040,000

The median price sold was $535,000

The average sales price was $530,078

The average marketing time was 311 days

The list to sales price ratio of all the homes sold was an average of 93% of final list price. 

The list to sales price ratio of all the homes sold was an average of 84% of the original list price.

(Some of 2010 sales were closings from 2009-those over-priced homes contributed to the longer marketing time here)

What are the changes in the Lake Barrington  real estate market from 2009 to 2010?

Sales are up by 56% - A huge increase and likely due to final pricing on those over priced 4 bedroom homes in 2009.

Market times were up by 51% -  no doubt this was an adjustment for the over-priced homes.

Prices not declining too much on average. - Pricing is key to selling.

If you are in the market to sell your Lake Barrington single family home, my website attracts buyers from all over the USA, many relocating families are looking online for your home. Remember that your home in Lake Barrington will compete with other comparable homes in all of 60010.

Contact:

Corinne Guest
Real Estate in Barrington
Royal Advocate Realty
Info@CorinneGuest.com
(847) 363-3686

Lake Barrington Homes - Lake Barrington Shores & Subdivisions to Consider.

If you are looking for some respite from the hectic world of working in downtown Chicago, Lake Barrington might just have what you need. Designated as a Tree City Lake Barrington has homes on 1 or more acres as well as a gated community of condos and townhomes, Lake Barrington Shores.

With nearby forest preserves, creeks, walking paths and sports facilities there is something for the whole family and real estate prices and properties for every budget and dream. The average price of a home in Lake Barrington is $500,000 but the prices of homes range from $150,000 for a condo up to $1 Million for luxury homes.



Subdivisions in Lake Barrington's real estate are small. The exception is Lake Barrington Shores which has 1317 condos and townhomes. Many of the others are enclaves and commonly have less than 50 homes. The named subdivisions in Lake Barrington are:

• Lakeland Estates
• Twin Pond Farms
• Farm Trails
• Tanglewood
• Rivers Bend
• Basswood Island Estates
• Flint Creek
• Flint Creek II
• Tallgrass
• Wedgewood Trails
• Pine Hills
• Country Squire Estates
• Grandview Estates
• Estates of Lake Barrington
• Flint Lake Subdivision
• Grayshire Estates
• Chesapeake
• Golf View Estates
• Brookside Ridge East
• Brookside Ridge West
• JKF Foley
• Savannah
• Kelsey Pointe
• Pheasant Ridge
• Kelsey Farms
• Heritage Estates
• Enclave of Heritage Estates
• Walnut grove
• Barrington Harbor Estates
• Savannah
• Alice Lane
• Indian Ridge Estates

At the time of writing there are 33 single family homes for sale in Lake Barrington and 55 condos and town homes in Lake Barrington Shores. As your local expert I welcome the opportunity to find you a home in Lake Barrington, after all it's my home too and I would be proud to show you what a wonderful place it is to live.

Contact:

Corinne Guest
Real Estate in Barrington
Royal Advocate Realty
Info@CorinneGuest.com
(847) 363-3686

Flint Creek Lake Barrington - Instant Waterfront Property.

May 12th to 13th 2010 saw a lot of rain here in Lake Barrington as did much of our area. O'Hare Airport had a ground stop due to all the storms and rain. We did not see violent storms just the usual spring thunder, lightening and rain, which did seem to go on and on.

At the back of my house in Lake Barrington there is a creek called Flint Creek which meanders around the Barrington countryside. It is usually about 10 feet wide with some wider and deeper spots. It travels through the Stonehenge Golf Course and continues north until it meets the Fox River. With all the rain we had in the last 2 days the area behind my house has become an instant lake. In the photo below you likely cannot tell where the creek is!

In the photo below if you look to the left-that is where the creek is. You can see one of the bird boxes just about sitting above the water.

My backyard is at an elevated level to protect from the over flowing waters and we are not in a flood plain. This photo is taken from a higher point and shows the extent of the flooding. This is the most water I have ever seen here in spring. You can just make out the bird boxes. Normally the center of this photo would all be conservation land not water.  Flint Creek runs at the bottom of the photo to the left and then circles back around.

I am glad we live far enough away not to have to worry about this!  The deer might not be too happy-they tend to roam this land, for now I hope they stay away. Yesterday Stonehenge Golf Course did not look much better! I bet the fish are loving it-we often see them jumping out of the water.

If you would like to search for real waterfront property-please visit my web site!

Copyright 2010 Corinne Guest All Rights Reserved  -
* Flint Creek Lake Barrington - Instant Waterfront Property *

Lake Barrington Short Sales-Choose Your Realtor Carefully-You Don't Have To Be Another Foreclosure.

I am sad to learn today that one of my Lake Barrington neighbors has gone into foreclosure. The property is currently in the final redemption period but at this stage in the process it is very unlikely the owner will be able to pay all the missed payments and accrued interest.

This need not have happened and it makes me angry. Were they not informed about short sales? Property owners may feel a little stigma is attached to short sales and we all understand that, but many others do not even know what a short sale is or what other options are available to them. Our job as short sales professionals is to educate our clients-let them know they have options and find solutions.

The property in question was listed by a very experiened Barrington Realtor but that Realtor has never done a short sale. I wonder even if the Realtor knows of the situation. Before listing any property for sale in Barrington every Realtor should do a little due diligence to find out if the owner might be in trouble. This is not difficult to do folks. As Lake Barrington Realtors we have access to the tax records which might give us a clue or two. Even so as Barrington Realtors it is our job to collect relevant information from anyone selling a home. This would include mortgage statements, tax bills, plats and more.

The property in question has had one price cut in 10 months. I can explain to you why the house did not get any offers and why I have a plan of action to sell your home. Lethargy when marketing short sales is not an option.

When I see a mortgage statement and the amount owed seems to be very close to the market value of a home I can start enquiring about the circumstances of a sale. As a Barrington Realtor that has closed short sales-has short sale properties both listed and currently under contract-you'll know that I am not going to attack you like a bull in a china shop. I am empathetic to your situation and will do my best to get you the right assistance which sometimes is not a short sale. I have teamed with the best in short sales attorney groups in Illinois and together we make short sales happen.

If you are in financial trouble don't just call a Lake Barrington Realtor-list your home and hope for the best. Find a Barrington Realtor that has experience, closed short sales and is certified.  Call Corinne Guest-SFR-of Royal Advocate Realty in Barrington-your Short Sale Foreclosure Certified Realtor. 847-363-3686.

Copyright 2010 Corinne Guest All Rights Reserved  - *Lake Barrington Short Sales-Choose Your Realtor Carefully-You Don't Have To Be Another Foreclosure*

Lake Barrington Homes-Complete With ...Space Ships?

If you are looking at homes for sale in Lake Barrington you may well have seen one of these in the yard and wondering whether it even belongs on this planet. After all it really does look like a space ship from a childs story book.

Lake Barrington is located in Lake County and therefore all single family homes with well and septic systems are going to have one of these somewhere in the yard, usually in the back although I have seen them at the side.

What is it? Well what you see is the lid of a Multi-Flo septic system. It's job is to aerate the homes waste water for a cleaner waste product. Independent studies show the resultant waste is 99.999% dis-infected. It is buried beneath the ground and has multiple socks inside for filtering.

What do you do with it? Nothing. The units are locked and can only be serviced by qualified technicians. Lake County will require you to have a maintenance contract which runs at less than $200 a year. Twice yearly, in most cases Lake Cook Trenching, will come out and service the unit to make sure it is functioning correctly.

As you have a septic tank you will need to have the septic tank emptied periodically based on the number of people in your house. Ask your provider for guidance. The best course of action is to call your Multi-Flo contractor and schedule a date for your Multi-Flo to be cleaned with a full service and all worn parts to be replaced. Then call your septic emptying service and get them to come on the same day. Why? Because you need to have the multi-flo emptied as well. It is cheaper to have it all done together.

Last year we forget, had our tank emptied and forgot about the Multi-Flo. Now we are having the tank emptied again even though it is likely only about 1/3rd full because our Multi-Flo needs emptying. Excess cost to us for being negligent $235.00. If like us you do not have the Multi-Flo emptied one day when you are outside you'll notice effluent bubbling out from the top lid and inside your home, usually in the basement your alarm will be going off all the time. This means it needs cleaning and emptying.

The unit will be located close to your septic tank and there are large boulders you can buy to go over the top for aesthetic purposes.

There are other areas in Barrington that have Multi-Flo systems.

Copyright 2010 Corinne Guest All Rights Reserved  - *Lake Barrington Homes-Complete With ...Space Ships?*

Updated Foreclosed Home on Savannah Trail in Lake Barrington Illinois

Tuesday every week in Barrington Illinois is Broker Tour Day. Brokers with new and existing listings will host any of their listed homes open for brokers (and real estate agents) to tour the homes to keep in mind for their buyers.

Broker Tour is not something I usually take any time to do. I prefer to preview homes for my buyers if they wish, rather than spend an entire day looking at all the homes newly listed for which I do not have an active client. However today I made an exception and will do so if there is a property of particular interest to me. It only took me 10 minutes and I visited this home on Savannah Trail in Lake Barrington Illinois because I viewed it with a buyer client of mine in the fall when it was available for sale as a foreclosed home. At the time it was in pretty poor condition for a home that was not even 10 years old.

I had seen the property listed for sale last month and saw the broker open signs. I thought I would take a peek and see whether the owner had done a good restoration job. The owner had put in a new kitchen with granite counters and stainless steel appliances, all the floors had been re-finished, the entire house inside and out has been painted, the bathrooms have all been re-done. The part of the home that was in the worse condition was the basement which had mold growing up the walls due to the refridgerator line dripping for months while the house was abandoned. Now you would not know. Oh and all new carpets. He also moved a wall where the upstairs loft was - to create a smaller loft and a sitting room for the master-what a great selling feature.

I congratulate the owner for a fabulous job. There is no doubt this home is now one of the nicest in the Savannah subdivision. All he needs to do is fix the deck which now the weather is co-operating should not take long.

It is one of 3 available for sale on Savannah Trail in Lake Barrington Illinois. I cannot show the property here because the broker has opted out of virtual office web sites  i.e.blogs like this. However visit my Barrington web site and I have created a special page for properties on Savannah Trail in Lake Barrington Illinois.

Contact me for information on homes in Savannah Trail Lake Barrington Illinois.

Copyright 2010 Corinne Guest All Rights Reserved  - *Updated Foreclosed Home on Savannah Trail in Lake Barrington Illinois*