This five bedroom, 4 1/2 bath home for sale on Monroe Street is an example of the single family properties that help give Hinsdale a hometown feel.

Towns offer variety of home styles

A drive through Hinsdale or Oak Brook is like going on an architectural tour — from older historic homes to new builds and detailed landscaping there is so much to enjoy.

Despite the economy both towns are seeing continued strength in the real estate market and continue to be sought after zip codes.

“As compared to 2010, this year was much stronger in Oak Brook and Hinsdale,” says Nadia Miller, a broker associate with Prospect Equities, Inc. in Oakbrook Terrace.

“There were more homes on the market and more homes going under contract and closing. Both the buyers and sellers are motivated. Many of the sellers are going through an economic change in life or are relocating. The buyers see it as a great time to make a move since the interest rates are low and the prices are low. There are also a lot of homes on the market to choose from so it is easier to find the right home.”

Beth Burtt, broker owner of Brush Hill Realtors in Hinsdale, agrees 2011 started off much better than the previous year. Burtt has been involved with real estate for 31 years and has noticed an interesting change among people trying to sell a home. In the past, sellers would simply put a home on the market and make very few efforts to make the home more appealing. “But recently, I have seen sellers who are trying hard to have a successful transaction. They are updating their homes for the sale and working on coming up with a good price. I think some of it is from watching shows on television about selling homes. They are seeing the value of making some changes before putting a home on the market.”

Another change Burtt has seen involves teardowns and renovations, which were once commonplace in Hinsdale and Oak Brook.

“Teardowns are not what they used to be in these two communities,” she says.

“Very few builders are tearing down homes and putting up spec homes anymore like they did several years ago. The only teardowns I am seeing are being done by the homeowners themselves.”

Burtt has also noticed that today’s buyers are not as interested in “fixer-uppers.” She recalls a time when first time homeowners were willing to buy a home in need of repair just to get into the home at a low price.

“It’s a different market today. Fewer people are willing to put in this ‘sweat equity’ to fix up a home. Young families want to move into a home where everything is already done. Older homes sell better if they have been updated.”

Both brokers agree single family homes are selling better than attached. “But there is still a market for attached. Many baby boomers are looking for attached because there is less maintenance,” Miller says.

Hometown Hinsdale

“Hinsdale is attractive to families because it is just a 30 minute commute to the city by train or car but it still feels like suburban living,” says Miller. “There is a quaint downtown area, tree-lined streets, beautiful parks, older homes, outstanding schools, parades. It is a town that really has things together to plan community activity,” she says adding there is a wide demographic of singles to seniors.

“There is a strong hometown feel to Hinsdale,” adds Burtt. “It’s a town where the kids can ride their bikes and parents can catch the train to work. Single family homes in Hinsdale can be found for around $400,000 and attached are around $150,000.”

Oak Brook style

“The proximity to Chicago is also a plus for Oak Brook,” notes Miller. “Most of the people who commute from Oak Brook drive instead of take the train. But Oak Brook is also the home of many corporate headquarters. The top executives for these companies can live just a few minutes from work, which is very appealing. Oak Brook has several prestigious areas with gated communities, spacious lots and very large homes. Oak Brook offers a more private or exclusive feeling.”

Burtt agrees with this description of the area and adds, “Oak Brook has a large number of corporate residents who appreciate the privacy offered in several areas. The schools in the area are also excellent. Another plus for residents is that Oak Brook has the lowest tax rate around.”

The community’s residential property taxes are lowered by the presence of Oakbrook Center and the many other businesses in the area that bring in tax revenue. Burtt notes that single family homes in Oak Brook begin around $500,000 and attached homes begin at about $200,000.