LB, LF Real Estate: In This Together

The Village of Lake Bluff has joined the City of Lake Forest's incentive package for buyers who purchase a home this spring.

As the cast of "High School Musical" so famously sang: "We're all in this together."

The Village Board voted on March 23 to participate in the incentive package that was designed by the Real Estate Coalition, which was formed last year at the request of Lake Forest Mayor Michael Rummel to jump start home sales. Now that the sister suburbs are in sync on the incentive package, buyers in both towns will get the same perks if they purchase a home between March 3 and June 3 and close by Sept. 3 (Lake Bluff's deal is retroactive). Here are some of the rewards:

Click here for participating vendors:

• $300 closing credit from participating lenders
• $100 closing credit from participating title companies
• 10% fee reduction from participating attorneys
• 10% fee reduction from participating home inspectors `
• "Welcome Package" from members of the Chamber of Commerce
• $500 in "Lake Forest Dollars" or "Lake Bluff Dollars" from the City and Village, respectively.

"The Village board chose to participate at the same level and in the same manner as the City of Lake Forest for two reasons: to show continued support for the efforts of the Coalition, and to support our local Chamber members during this difficult economic time," said Village Administrator Drew Irvin.

Comments

[Ted Cole]

It is very encouraging to see the Village get involved in our RealEstate game, especially as the west corridor of downtown's vacancy forebodes recession impact Lake Bluff. Of course many might say "at last!" or "Its not enough!" however, the Village faces revenue issues like the rest of us. The awareness and the action are what we should measure. Then each of us should look to our neighbor's and our town and ask "Can I help too?"

[Gary]

Why aren't the RE agents stepping up to reduce commissions or providing cash back incentives? Aren't they are taking a hit as well?