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Real estate in Long Grove IL sees a down trend


Long Grove IL, a small village located in Lake County, is known for its exclusive million dollar home communities and for its historic downtown. It has very strict building ordinances to ensure that it does not lose its country atmosphere. However in recent times the Long Grove IL real estate industry has suffered due to the economy slowdown, bank foreclosures and lending debacles.

The Housing starts, a measures of the number of new homes being build in the area, has seen a drastic decrease while the number of bank foreclosures has risen by a staggering 60 percent from last year. The Long Grove real estate industry appeared to have had an upswing in the last quarter but the down trend is still continuing. The market value has dropped to $736 k after having increased to $750 k in the last quarter. Three bedroom houses are available in the area at listed prices of about $600 k while the four bedroom ones are available at just above $1000 k.

However, the present state of affairs has proved to be a gain for people wanting to buy homes in Long Grove IL at the moment. Experts at Weichert Realtors feel that with the decreased home prices this is probably a good time to buy your dream house. The down trend is not expected to last for very long and experts suggest that this is the right time to invest in some good real estate whether for living purposes or from an investment point of view.

Weichert Realtors offer one stop services for all real estate needs including advice of mortgages, moving, and insurance, and have some good deals on real estate in the Long Grove IL area. They have more than 18,000 sales associates spread over 500 different offices in the whole of the state.


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