Current inventory levels in Thornwood

Currently there are 32 single family homes on the market in Thornwood in South Elgin, Illinois. Of these, 6 are currently under contract.
There is 5.6 months supply of inventory.

13.6% of sales are distressed

In the past six months 6 of the 46 closed sales have been distressed properties (either short sale or bank owned).

560 Lakeridge Drive south Elgin: Beautiful "Flipped" Thornwood home

I speak with many clients who want to flip houses. It seems so easy on those HGTV shows.

I thought I would show you a real life Thornwood example in this flipped home at 560 Lakeridge Drive.

This house was purchased as a bank owned REO in 

4-11-14 for   $214,524 and completely rehabbed (unfinished basement) and sold on 

10-8-14 for   $355,000. 

While the  NET numbers are not public information, the retail numbers reveal  more than 52% return and less than 6 months time  purchase to close. 

I'd be happy to email you more photos so you can see the beautiful interior finishes on this rehab. 

What would a  complete rehab on a 2800 square foot home cost? I'm guessing at least $50,000...still a nice profit. 

But is it worth the risk? .... the stress? 

It's not for everyone but if flipping is your goal, be sure to choose a desirable  and very marketable neighborhood like Thornwood where your turn time will be minimal.

REO/distressed  properties occasionally  come up in Thornwood. Click on the link on the right side of this column to search for homes or contact me directly to have properties sent right to your in box. 

New Thornwood Listing $409,000! 3150 Sf with a finished basement

This great home sold in 5 days for $404,000.  98% of list price!!

581 Terrace Lane, South Elgin  MLS # 08760465

New Pulte subdivision across from Randall Road at Silver Glen

Thornwood residents...FYI    A new Pulte subdivison is under construction in South Elgin with St. Charles schools. Proposed is 127 approximately .25 ac lots with pricing in the high $300's to the $400's. Read more at the Pulte link below.



New single family subdivision "The Trails of Silver Glen"

Cal's Angels 5 K coming up September 13th

This charity; Cal's All-Star Angel Foundation created to honor the life of Thornwood resident Cal Sutter is close to the hearts of Thornwood residents. The extensive community support is testimony to the wonderful neighbors within and around the Thornwood neighborhood. Check them out and support if you are able.

Elementary School Boundaries for Thornwood

Thornwood is part of the Saint Charles district #303 school system. The assignedhHigh school is
Saint Charles North and the assigned middle school is Haines Middle. However, the neighborhood is served by two elementary schools: Corron Elementary and Ferson Creek located on Bolcum Road
Here is a link to the map at the district #303 site to show which streets are assigned to which  elementary school.

Inventory Levels in Thornwood, South Elgin

Housing inventory supply is at 10.2  months for the detached single family homes in Thornwood
while the supply of town homes is only at 5.5 months.
The Kane county numbers are a  parallel to  these with 9 months supply of detached single family homes and only 6.8 months of attached housing units.

Does this mean there more downsizers in this market???

Students in Thornwood attend St. Charles North High School

US News and World report ranked  district #303 in St. Charles as one of Illinois' best.



St.Charles North High School ranked #26 in IL

FUN for the kids in THORNWOOD

Just a peek at one of the favorite social events in Thornwood.

Newly Listed! 691 Ashton Lane, South Elgin

Visit the tour and see ALL the photos and then call me for an appointment!
Cindy Strahota
Keller Williams Fox Valley Realty   630-624-9246     Email: CindyStrahota@gmail.com


www.691Ashton.info

Distressed properties still a large presence in the market

30% of residential properties sold in 2013 in the neighborhood of Thornwood were considered a "Distressed Sale." However, 42.5% of the market in Kane County is made up of distressed properties.
So Thornwood has fewer distressed properties than Kane County overall.

These numbers indicate an improving real estate market when compared to 2012 when 49.1% of the sales in Kane County were distressed and  only 35.8% of the market in Thornwood were distressed.



*A distressed sale is a short sale, foreclosure or court ordered sale.
** Source is MRED Multiple Listing Service and information is deemed reliable but not guaranteed. Cross Properties data was used for all stats noted here. Cross properties is both detached single family and attached town homes.

Rental Information for Thornwood Subdivision (2013)

The rental market is active in Thornwood. 

As a landlord or as a tenant, renting a property may be the best financial decision for your situation.
These 2013 numbers will give you an idea of market rents in Thornwood.

Click on image to enlarge.
Information source MRED Multiple Listing Service. Information deemed reliable but not guaranteed.

                                                    

If you need additional information to aid you in making a decision to sell vs. rent your property OR to buy vs. rent a home to live in, please contact me. I'm happy to provide you with that guidance.

Summary of THORNWOOD Market Statistics for 2013

 2013 Thornwood, South Elgin Housing Stats:

• 63 detached single family homes sold in 2013
• Average sales price of $426,280  (9.4% increase over 2012) 
• Average marketing time of 81 days   (a decrease of 15.8% in marketing time) 
• Highest price home sale : $640,000
• Lowest price home sale: $245,000
• Median Priced home: $419,500
• 21.9% of sales were distressed sales
• $129.66 is Avg Price/SF for detached SF Homes

Source MRED Multiple Listing Service. Information deemed reliable but not guaranteed.