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posted: 6/11/2014 4:28 PM

Village of Bensenville Home Values Rise 9.7%

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Village of Bensenville

Bensenville posted one of the highest percentage increases in single-family home prices in the northwest suburbs experiencing a 9.7% increase from 2012 vs 2013 tracked by CoreLogic Case-Shiller. CoreLogic Case-Shiller computes a single-family price index for each ZIP code by matching up repeat sales of the same property.

"Bensenville is a great place to live, work, and play." stated Village President Frank Soto "We work to provide the highest quality of life possible for our residents and see that hard work paying off as people's home values are increasing."

The Village of Bensenville has been very aggressive in their efforts to stabilize and increase home values. The Strategic Plan includes a Neighborhood Stabilization Program (NSP) which has helped create this sharp increase in home values.

Some of the tools the Village utilizes to help stabilize neighborhoods include a tall grass program where the Village contracts to cut overgrown yards and then leans the vacant properties to recoup the cost, helping to keep neighborhoods aesthetically pleasing.

The Village has also demolished a handful of severely blighted foreclosed homes that were unlikely to be restored anytime in the foreseeable future. The Village was successful in obtaining a $75,000 grant from the Illinois Housing Development Authority this spring to cover the costs of these demolitions.

Besides these physical acts of property maintenance, the Village has also conducted realtor engagement sessions to showcase amenities Bensenville has to offer as well as improve communication and learn areas of improvement from residential real-estate brokers.

"We have taken a very proactive approach in dealing with the foreclosure crisis during this recession and we are proud to see our home prices steadily increasing." stated Village President Frank Soto.