Recenly Reduced North Shore Gem: 1708 Northfield Square

During this Halloween weekend (October 29th & 30th), you may want to make time to see this immaculate 2BR/2Bath Condo with a recent price reduction..Priced for a quick sale within a great North Shore location– Northfield, Illinois. The property includes 1 car garage.  A bright unit with wonderful North Shore real estate possibilities. Sliding doors with southern exposure from Living Room and Master Bedroom. Kitchen has juliet balcony. “SOLD AS IS”.  CLICK THE PHOTO TO SEE THE VIRTUAL TOUR

Contact Gloria Matlin with Questions or to Request a Showing!

Top Tips to Consider-Buying or Selling a North Shore Home Now?

First let’s tackle selling your North Shore home. The response to that question is based on what your families’ goals are. If you don’t need or want to move for a few years it might make sense to wait for the housing industry to recover and prices to appreciate. However, if you wish to move within the next six to eighteen months, it is probably better to sell sooner rather than later. Here are 4 reasons why “now” may be best:

1. Distressed Properties Will Impact Prices

Distressed properties (foreclosures and short sales) on the market will increase this fall and winter. This will put tremendous downward pressure on prices for at least the next 12-18 months. Get your home sold before they become your competition.

2. Mortgages Will Become More Difficult to Attain

Lending standards are continuing to tighten. There is legislation currently being considered that will make it even harder for buyers to qualify. Less demand will equate to lower prices.

3. It is the Perfect Time to Move-Up

With prices where they are and interest rates at all time lows, there may have never been a better time to move-up into your dream home.

4. You Get to Move On with Your Life

Probably the most important reason to sell is so you can get on with your life. You are considering selling for a reason. Do not allow a less-than-stellar housing market prevent you from reaching your goals as an individual or as a family…MORE

Last but not least, let’s address buying a North Shore home. Market indicators suggest now is the time to do just that. Some will say realtors highlight this fact to create transactions and commissions. Because of that, listed below are supported quotes from individuals outside of the real estate profession who offer sound financial advice. Take note of the 3 quotes:

1.“It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.” It’s Time to Buy That House-WSJ

2.“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.”

3.“Even with a dismal 1% growth rate over 30 years, a $300,000 property would appreciate well over $100,000 giving the homeowner an additional nest egg for retirement… At a time when retirement is becoming much more challenging, an extra $400,000 (or likely more) can make a major difference not to mention the impact of NOT having to pay a mortgage.  How much less would you have to save for retirement if you didn’t pay the mortgage?” …MORE INFO

In the end, when real estate professionals, a trusted financial newspaper and an iconic financial magazine say that it now makes financial sense to purchase or sell a house, perhaps it is time.

How to Prepare Your Home for Winter: North Shore Real Estate Trends

Looking for things to do this weekend?  North Shore,IL folk know, this is a “must do” before old man winter gets here…winterizing your home. So maybe after the Highwood Pumpkin Festivals, Halloween parties,  Glencoe Farmers Market, garage sales and other  fall activites, add this to the list. A handy guide is provided below that can help put you in the mood. Winterizing should be done by everyone, especially those selling real estate or thinking of putting  property on the market for sale. Prospective buyers, as well as holiday guests/visitors will notice and appreciate the extra steps taken.

While September brings the first day of fall, October -November can be the harbinger of the winter and all of its frigid pitfalls. It’s best to be prepared for the North Shore frost and snow with a few simple tasks that will prevent drafts, frosty windows and every homeowner’s nightmare: Busted pipes.

A good place to start prior to tackling problem areas in your home is a property energy audit. This will pinpoint specific places in your house where heat escapes. The U.S. Department of Energy has a do-it-yourself energy assessment, or you can hire someone to do the audit for you.

Weatherstripping:

Cold air can seep in through those little gaps between your door and the door frame, quickly reversing any effort you take to heat your home. Weatherstripping covers the sides and top of the door and a sweep fills the space between the threshold and door bottom. Hardware stores and home centers sell numerous products in metal, foam, rubber and plastic for this purpose and many can be installed in an afternoon.

Windows:

This may be another area where additional weatherstripping or caulk is needed to fill any visible gaps, though that still might not be enough remediation to prevent drafts. While windows add much needed winter light, they can let out a lot of heat — up to 12 times more than a wall if they’re single pane. Blinds can keep a little heat in, but heavier shades or curtains will minimize heat loss.

Fireplace:

Fantasizing about a cozy evening in front of the fire? Your romantic night might be cut short if your fireplace hasn’t been serviced. The National Fire Protection Association recommends that chimneys are swept at least once a year.

Furnace:

It’s also recommended that furnaces be serviced…..MORE

Glencoe-North Shore Market Trends: Update Oct-Nov2011

Great North Shore Real Estate news just released…In the nine-county, including North Shore, Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single family and condominiums) in September 2011 totaled 6,035 homes sold, up 13.3 percent from September 2010 sales of 5,326 homes. The median price in September 2011 was $160,000 in the Chicago PMSA, down 8.6 percent compared to last year in September when it was $175,000.

“Home sales are up significantly from last year and that’s a welcome signal for the Illinois housing real estate market; still we would expect to see even more people taking advantage of these excellent affordability conditions with low mortgage interest rates,” said REALTOR® Loretta Alonzo, CRB, GRI, president of the Illinois Association of REALTORS® and broker-owner of Century 21 Alonzo & Associates in LaGrange Park. “The slow economy and job recovery are severe drags on the market, plus many able buyers are hitting roadblocks on financing a property purchase due to the overcorrection in mortgage underwriting requirements. The fact that FHA home loan limits lowered on Oct. 1 for Chicago area counties and several downstate counties is another blow for would-be buyers.”

Adds Alonzo: “Illinois REALTORS® join the national REALTOR® organization as well as other housing industry groups and economists to urge action on reforms to housing financing as well as mortgage refinance programs for homeowners facing foreclosure.”

Sixty-three percent of Illinois counties reporting (63 of 100) showed year-over-year sales increases in September 2011. Forty-five percent (45 of 100) showed year-over-year median price increases.

In the city of Chicago, September 2011 home sales reports (single family and condominiums) totaled 1,498, up 6.8 percent from 1,403 homes sold in September 2010. The city of Chicago median home sale price for September 2011 was $190,000, up 5.6 percent compared to September 2010 when it was $180,000.

“September home sales in the city of Chicago-North Shore show signs of stabilization, with an increase in the units sold for both single family and condominiums,” said REALTOR® Bob Floss, president of the Chicago Association of REALTORS® and broker-owner of Bob Floss and Son Realty. “While interest rates remain historically low and prices compelling, we remain concerned of the overall economic stability of our marketplace with unemployment numbers and job creation still top of mind for so many buyers and homeowners, alike.”

The Chicago-North Shore PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

Review Illinois housing stats data and the University of Illinois REAL forecast office for October through November 2011 at www.illinoisrealtor.org/marketstats.

More Info

Glencoe Garage Sale-Visit our North Shore Office for Info!

Coldwell Banker of Glencoe, Illinois is sponsoring a village wide garage sale:

This Sunday October 23rd from  10 a.m.-4 p.m

Small unsold items will be donated to charity.

For more information or to get an area map for the event stop by the Coldwell Banker Residential real estate office located at:

640 Vernon Ave, Glencoe,IL 60532

847-835-0236

Coldwell Banker of Glencoe services North Shore‘s Evanston, Glencoe, Glenview, Kenilworth, Lincolnwood, Northbrook, Northfield, Skokie, Wilmette, Winnetka, Deerfield, Highland Park, Highwood, Lake Bluff, Lake Forest, Lincolnshire, Riverwoods areas

The Glencoe office has been serving as the #1 ranked office in the North Shore real estate market for over 45 years. Our highly trained, top producing full-time sales staff is proud of our strong community involvement, and our commitment to customer service is legendary. We provide timley and complete real estate market trends, reports, statistics and community/real estate news 24/7. Our Sales Associates average 15 years experience. Glencoe, a quiet and quaint town offering a lifestyle of luxury, elegance and fine homes.

MORE NORTH SHORE OFFICE INFO

Top 5 Things to Do For Halloween: Chicago’s North Shore

Halloween is one of the North Shore’s shining moments, with parties, parades, festivals and more. Even though Halloween is only one day, you can celebrate with spooky events all month long.  Check out the list of top options detailed below:

Date	Title	Venue	City	Type
Thu 10.20.2011	Queens Go Bump in the night: A Halloween Drag Show	Wilmette Theatre	Wilmette	North Shore Theater
Thu 10.27.2011	Early Halloween Party and Fundraiser		Kenilworth	Fairs and Festivals
Thu10.27.2011	Scream for Halloween Cooking Class	Whole Foods, Deerfield	Deerfield	Cooking Demos and Classes
Sun 10.30.2011	“Halloween Magic”	Rosemont Theatre	-	Fairs and Festivals
Sun 10.30.2011	Vincentennial: A Halloween Tribute to Vincent Price with Special Guest Victoria Price	Genesee Theatre	Waukegan	North Shore Theater

 

 

Curb Appeal Still Rules-Top Tips for Fall Upkeep

If your home’s curb appeal makes a great first impression, everyone — including potential homebuyers — will want to see what’s inside. Your home’s appearance has a psychological effect on anyone that sees it. If the exterior of the house and yard is well-maintained, people enter the home with positivity, believing the interior will measure up to the standards set outside. If the exterior looks poorly maintained, one may enter the home with a negative mindset, specifically looking for problems.
Check out these simple, low-cost improvements that you can do in a day, a week, or a month.
In a Day: Create perfect symmetry

Symmetry is not only pleasing to the eye, it’s also the simplest to arrange. Symmetrical compositions of light fixtures and front-door accents create welcoming entryways. This door is flanked by two sidelights. The black lantern-style sconces not only safely guide visitors to the door, but also coordinate with the black door and urns.

In a Day: Replace old hardware

House numbers, the entry door lockset, a wall-mounted mailbox, and an overhead light fixture are all elements that can add style and interest to your home’s exterior. If they’re out of date or dingy, your home may not be conveying the aesthetic you think it is. These elements add the most appeal when they function collectively, rather than as mix-and-match pieces. Oiled-bronze finishes suit traditional homes, while brushed nickel suits more contemporary ones.

In a Day: Dress up the front door

Your home’s front entry is the focal point of its curb appeal. Make a statement by giving your front door a blast of color with paint or by installing a custom wood door. Clean off any dirty spots around the knob, and use metal polish on the door fixtures. Your entry should also reflect the home’s interior, so choose a swag or a wreath that reflects your personal style.

In a Day: Do a mailbox makeover

Mailboxes should complement the…MORE

North Shore Open House: 1055 Julia Ct., Glencoe 1-3pm 10/16/11

SUNDAY OPEN HOUSE: 1055 Julia Ct., Glencoe 1-3:00PM 10/16/11.See Virtual Tour HERE!

Top Ways to Refinance Investment Property: Real Estate Market Trends

Is it possible to refinance a property if you don’t live in it?  

Yes.

But even with mortgage rates as low as they are, for some people, “it just doesn’t make sense” for them to refinance a rental property, or they are being told they can’t refinance an investment property.

How can this be?

In today’s mortgage market, quite a few home loan programs for investment properties are available through Fannie Mae or Freddie Mac — but there are still portfolio lenders offering investment property programs that Fannie Mae and Freddie Mac don’t offer.

Translation: Just because one lender tells you it isn’t possible to refinance your investment property, it doesn’t mean that it isn’t possible.

For those people who have recently heard that it wasn’t possible to refinance their investment property, it is likely that they were given one of two common reasons: MORE

Real Estate Outcomes Sept-Oct2011: Chicago’s North Shore

MARKET REPORTS & TRENDS

Property Sales

September Property sales were 6, equal to 6 in September of 2010 and -57.1% lower than the  14 sales last month.  September 2011 sales were at their lowest level compared to September of 2010 and 2009.  September YTD sales of 105 are running 32.9% ahead of  last year’s year-to-date sales of 79.

Prices

The Median Sales Price in September was $674,500, down -31.0% from $977,500 in September of 2010 and down -26.7% from $920,000 last month.  The Average Sales Price in September was $1,096,083, up 12.0% from $979,000 in September of 2010 and up 2.6% from $1,068,786 last month.  September 2011 ASP was at highest level compared to September of 2010 and 2009.

Inventory & MSI The Total Inventory of Properties available for sale as of September was 109, down -14.2% from 127 last month and down -18.0% from 133 in September of last year.  September 2011 Inventory was at the lowest level compared to September of 2010 and 2009. A comparatively lower MSI (monthly supply inventory) is more beneficial for sellers while a higher MSI is better for buyers.  The September 2011 MSI of 18.2 months was at a mid range compared with September of 2010 and 2009.

Market Time The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells.  An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market.  The DOM for September was 73, down -27.7% from 101 days last month and down -47.1% from 138 days in September of last year.  The September 2011 DOM was at its lowest level compared with September of 2010 and 2009. Inventory / New Listings / Sales ‘This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales.  The graph shows the basic annual seasonality of the market as well as the relationship between these items.  The number of New Listings in September 2011 was 16, down -27.3% from 22 last month and down -30.4% from 23 in September of last year. For More Specific Area Market Analysis Visit: COMMUNITY REPORTS SEPTEMBER-OCTOBER 2011