Does anyone think we're entering another real estate bubble? (Chicago: wood floors, landscaping)

[Lookout Kid]

Originally Posted by My Kind Of Town

I would agree that Hinsdale is a safer play for high end buyers ($800k +). I think it attracts more high end buyers than a town like Wheaton. It's not to say it is completely isolated from the general market trends (ie. downturns) though because the entire metro is tied in some way or another.

I have to agree with this, but yet I know several high end buyers who still choose the Wheatons of the world. Why? The $800k house in Wheaton is a lot NICER than the $800k house in Hinsdale. There will always be buyers who chose the nicer house over the nicer location. I think Wheaton is nice enough to support a certain number of houses in this range. I'd worry more about the $800k house in Lombard retaining value.

[holl1ngsworth]

Originally Posted by Lookout Kid

I have to agree with this, but yet I know several high end buyers who still choose the Wheatons of the world. Why? The $800k house in Wheaton is a lot NICER than the $800k house in Hinsdale. There will always be buyers who chose the nicer house over the nicer location. I think Wheaton is nice enough to support a certain number of houses in this range. I'd worry more about the $800k house in Lombard retaining value.

I could argue all day that the breadth of services and quality of amenities offered in Wheaton far exceeds that found in Hinsdale. I could also argue, and I have at great length, that our schools are just as exemplary. I think Wheaton will continue to support a high-end and that high-end will continue to grow. It's no surprise to me that the smartest people I know live in Wheaton (and Glen Ellyn ). And I know a lot of folks in Hinsdale.

If not clear enough: IMO.

Well, I don't know. My husband can give millions of reasons and explain it far better than I. He went to Duke, perfect score on ACT, passed 4 actuary exams on the 1st try, and is basically a genius. I'm going with his predictions as he confers with some very smart people and all have agreed: horrible time to buy at the over 600k price range.
And yes, we love Wheaton too... there's a chance his consulting firm could transfer him to NYC in the next few years, so we want to buy where we won't get crushed (should we have to sell again). Our rental lasts through next spring, so we'll see!

[My Kind Of Town]

Originally Posted by holl1ngsworth

I could argue all day that the breadth of services and quality of amenities offered in Wheaton far exceeds that found in Hinsdale. I could also argue, and I have at great length, that our schools are just as exemplary. I think Wheaton will continue to support a high-end and that high-end will continue to grow. It's no surprise to me that the smartest people I know live in Wheaton (and Glen Ellyn ). And I know a lot of folks in Hinsdale.

If not clear enough: IMO.

It's not a knock against Wheaton, it's just that part of the appeal of Hinsdale is its location. For many, myself included, Wheaton is too far west. I drive to work every day and often avoid expressways due to congestion. Taking local roads from Wheaton to downtown would be a nightmare. Whereas, I can take locals and do it in 45-50 minutes from Hinsdale on most mornings.

Also, unless it was a joke, not sure about the smartest people comment. Most Hinsdale residents living in high end homes are in the medical field, small business owners, or upper management.

[holl1ngsworth]

Originally Posted by My Kind Of Town

It's not a knock against Wheaton, it's just that part of the appeal of Hinsdale is its location. For many, myself included, Wheaton is too far west. I drive to work every day and often avoid expressways due to congestion. Taking local roads from Wheaton to downtown would be a nightmare. Whereas, I can take locals and do it in 45-50 minutes from Hinsdale on most mornings.

Also, unless it was a joke, not sure about the smartest people comment. Most Hinsdale residents living in high end homes are in the medical field, small business owners, or upper management.

That's the same amount of time it takes me on the highway during rush.

And I don't joke.

[Lookout Kid]

Originally Posted by My Kind Of Town

It's not a knock against Wheaton, it's just that part of the appeal of Hinsdale is its location. For many, myself included, Wheaton is too far west. I drive to work every day and often avoid expressways due to congestion. Taking local roads from Wheaton to downtown would be a nightmare. Whereas, I can take locals and do it in 45-50 minutes from Hinsdale on most mornings.

Also, unless it was a joke, not sure about the smartest people comment. Most Hinsdale residents living in high end homes are in the medical field, small business owners, or upper management.

Hinsdale is a sweet spot--close enough to the city for a short commute, but also an easy drive to the offices on the I-88 corridor from Oak Brook to Naperville. And right on I-294. It's just on the edge of DuPage County. It boomed earlier than burbs further west, and became "the place to be" in the Western burbs, further driving up costs and keeping schools full of kids from affluent families. It's also surrounded by nice towns on all sides... For most people Burr Ridge, Oak Brook, Western Springs, and Clarendon Hills beat the socks off of Lombard, Carol Stream, and Lisle (though I have recently learned to appreciate all three of the latter). Hinsdale is the center of a galaxy of affluence. By most measures, Hinsdale is a more desirable location than Glen Ellyn, Wheaton, or even Elmhurst--which is about the same distance from the Loop.

For me the main reason to avoid Hinsdale is housing costs. I just don't like any of the houses in that sub-$750k range, and feel like perhaps it's overpriced for the advantages it provides. At some point the dollars you are paying for that extra ten minutes or those small school performance differences just aren't worth the delta being charged. And my office is now considerably closer to Glen Ellyn than Hinsdale, so that advantage has been erased as far as I'm concerned.

[Lookout Kid]

Originally Posted by holl1ngsworth

That's the same amount of time it takes me on the highway during rush.

And I don't joke.

It used to take about an hour to drive in at rush hour, have my car parked in an upper level of a garage near Clark and Lake, walk two blocks to my office, and take the elevator to my floor. So probably 45 minutes in the car. The drive home was always worse, though. But the distance from the edge of DuPage County (just after the Hillside Strangler) to Glen Ellyn was never a problem....Usually close to full speed on I-88.

I find the real driving choke point to be 290 between Harlem and the Hillside Strangler. I think the real advantage for drivers would be living in Oak Park/River Forest.

[My Kind Of Town]

Originally Posted by holl1ngsworth

That's the same amount of time it takes me on the highway during rush.

And I don't joke.

I guess it depends on where you are in Wheaton. There are parts of Wheaton that have MUCH better access to highways than other parts of the town. Also, it depends on where you are going downtown. I often travel to the north side of the city which is much more difficult to get to than the loop from the western suburbs. So not really comparing apples to apples here.

[My Kind Of Town]

Originally Posted by Lookout Kid

Hinsdale is a sweet spot--close enough to the city for a short commute, but also an easy drive to the offices on the I-88 corridor from Oak Brook to Naperville. And right on I-294. It's just on the edge of DuPage County. It boomed earlier than burbs further west, and became "the place to be" in the Western burbs, further driving up costs and keeping schools full of kids from affluent families. It's also surrounded by nice towns on all sides... For most people Burr Ridge, Oak Brook, Western Springs, and Clarendon Hills beat the socks off of Lombard, Carol Stream, and Lisle (though I have recently learned to appreciate all three of the latter). Hinsdale is the center of a galaxy of affluence. By most measures, Hinsdale is a more desirable location than Glen Ellyn, Wheaton, or even Elmhurst--which is about the same distance from the Loop.

For me the main reason to avoid Hinsdale is housing costs. I just don't like any of the houses in that sub-$750k range, and feel like perhaps it's overpriced for the advantages it provides. At some point the dollars you are paying for that extra ten minutes or those small school performance differences just aren't worth the delta being charged. And my office is now considerably closer to Glen Ellyn than Hinsdale, so that advantage has been erased as far as I'm concerned.

At the end of the day it is largely personal preference. I prefer the La Grange/Western Springs/Hinsdale/CH corridor over the Lombard/Glen Ellyn/Wheaton corridor.

[holl1ngsworth]

Originally Posted by My Kind Of Town

At the end of the day it is largely personal preference. I prefer the La Grange/Western Springs/Hinsdale/CH corridor over the Lombard/Glen Ellyn/Wheaton corridor.

I actually live in the Wheaton/Glen Ellyn/Downers/Naper quadrangle. And that's where my preference lies.