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Inverness Information
Welcome > Local Info > Inverness Information ...

Inverness

Population: 6,749
Average Home Value: $803,125

Village Hall: 847/358-7740

Inverness

Inverness, 30 miles northwest of the Loop, is a village that attracts house hunters looking for a family community with recreational diversity and convenient access to Chicago. Originally designed as a rural getaway for young families wanting small homes on large lots, Inverness now boasts some of the most expensive homes in the Chicago area. Inverness lies within both Palatine Township and Barrington Township.

There is no retail and little commercial activity in Inverness, so residents rely on Barrington or Palatine for their shopping needs. They also have easy access to area malls and shopping districts.

Inverness has three parks within it’s village, but neighboring Palatine offers 28 parks covering 623 acres. Recreational opportunities are numerous and Deer Grove Forest Preserve and Crabtree Nature Center are nearby. There are four public pools in Palatine and five golf courses in, or near, the community. The Northwest Special Recreation Association is active there and sponsors a number of programs for residents.

Housing:

Popular home styles in the area range from Colonials and Victorians to Split Levels and Cape Cods. Homes in Inverness may vary in price according to the township in which they are

located. The 2006 average sales price was $803,125.

Schools:

Community Consolidated School District 15 serves elementary students in the Palatine Township area of Inverness. Children in the Barrington Township area are served by Barrington District 220 schools. High Schoolers in Inverness can attend either William Fremd High School or Palatine High School in Palatine or Barrington High School in Barrington, in accordance to their township. William Fremd High School had an average of 22.5 ACT, and Palatine High averaged 21.1 ACT. Barrington High School as an average of 23.5 ACT in 2006.

Transportation:

Illinois 53 borders Palatine on the east, connecting with the Northwest Tollway (I-90) and the

North-South Tollway (I-355). The Loop is an hour drive from Palatine. Midway Airport is a 70 minute drive and O’Hare is 20 minutes away. Commuter from Inverness may board express rail service in Palatine for a 40 minute trip to the Loop. Local trains take approximately one hour. Buses also operate in the area.

Primary Sources: MLSNI & ISBE.is.us.com 03/2007


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School Reports in Barrington, Inverness and Cary, Illinois
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Real Estate Tips
Financing Your Home >Watch Your ARMs Length

Most buyers know that first-year interest on Adjustable Rate Mortgages (ARMs) is typically lower than the interest on available fixed-rate mortgages. This makes ARMs easier to qualify for, but also requires that borrowers have some understanding about how such loans work, because there are significant details associated with the low first-year rate.

First, check to see how long the low rates offered on the ARM are guaranteed. After that period of time, the rates can go up two points a year to a typical rate cap of six points over the life of the loan. Lenders will usually require borrowers to qualify for a mortgage loan that is several percentage points above the actual initial rate charged on the ARM. This is intended to keep borrowers from becoming overburdened by debt. Some lenders may charge special fees or caps which can increase the cost of the loan. If you think that an ARM may work for you, it is a good idea to shop around.

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Real Estate Trivia
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What characteristics must a home have to be considered a prestigious property?

A 
Unique architectural design; Highly desirable location; celebrity status--owned by a well-known person.
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Bob Untch, REALTOR®, real estate agent and broker for Barrington, Inverness and Cary, Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Bob Untch
Coldwell Banker Residential Brokerage

530 N. Hough Street #180
Barrington, IL 60010
847-542-0475
Fax: 847-382-4990
BobUntch@NUMBER1EXPERT.com


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