April 23, 2013
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March 20, 2013
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Spring starts off with a bang on Chicago’s North Shore! Home prices are on the rise and inventory levels are decreasing. This may be one of the best times in history to sell, invest or go on vacation for spring break…you decide the order. To help get your home in tip-top shape, below are 4 easy ways to make your home stand out from the rest. Your property should get noticed for all the right reasons the moment someone passes in front of or past the threshold:
1. Focus on your front door: Updating your door’s handle and deadbolt set with a modern-looking option is a great visual upgrade, and it can be a practical improvement, too. While you’re at it, see if your doorbell, light fixtures and the door’s kick plate could be replaced. And be sure to glance up to check for cobwebs on the front porch.
2. Be the visitor: Stand at the end of the driveway and try to view the home as a buyer or visitor would. Are there oils stains in the driveway? Is there mold on the mailbox? Grime on the front door? Thoroughly clean your home’s exterior. Clean your siding, foundation, patio, walkways, driveways, stairs, decks and porch. Take a bucket and scrub brush to your front door, mailbox and any other areas that need gentler cleaning.
3. Don’t forget your fence: A homeowner may get used to looking at the back fence and not notice discoloration from water and sun. Give it a glance and plan for an update in paint or materials if needed.
4. Use plants, pots, or wreaths in cool colors, and keep them low-maintenance: People will react in a visceral, emotional way to hot colors, such as reds and yellows, it’s best to stick with a cool palette. Use blues, purples, light pinks and whites. Those colors will also make the home look cooler in warmer weather.
More information HERE
February 28, 2013
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The Chicago North Shore Spring season is projected to be bright….home sales increased 31.1% over previous-year real estate figures in January 2013. In addition median prices increased state-wide by 1.2% based on a recent report by the Illinois Association of REALTORS®.
Sustained improvement in the North Shore real estate market was seen throughout a predominant portion 2012, and it is highly probable that figures will remain strong well into the first quarter of 2013. North Suburban sales volumes and inventory levels for January 2013 are notable. Inventory levels shrank 38.9% to 2,617 units. This indicates sustained buyer confidence in conjunction with ongoing and appealing buyer incentives; as supported by data provided by the NORTH SHORE BARRINGTON ASSOCIATION OF REALTORS® and MIDWEST REAL ESTATE DATA LLC:
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.40 percent in January 2013, up from 3.32 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last January it averaged 3.92 percent. . Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.
Fifty-nine (59) of 102 Illinois counties including North Suburban Cook showed year-over-year home sales increases in January 2013. Fifty (50) counties showed year-over-year median price increases with cook up 3.1%. New Listings in the North Shore-Barrington region increased 2.6 percent to 836. Listings under Contract were up 41.4% according to data from NSBAR and MRED:
Sales and price information is generated by Multiple Listing Service closed sales reported by 31 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Feb. 7, 2013 for the period Jan. 1 through Jan. 31, 2013; the process repeated in March 2013. The Chicago PMSA, as defined by the U.S. Census Bureau, includes the counties of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.
Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats.
Gloria Matlin, Realtor, top producer, Chicago North Suburban resident, can be your trusted luxury real estate guide. She has been representing Glencoe’s highest ranking residential brokerage office for over 25 years. Feel free to stop by the office located at 640 Vernon Ave-60022, in the downtown district to discuss this or similar reports. Coldwell Banker, your resource for analysis, projections, history, impeccable service, or simply to gain information on North Shore-Chicago communities.
February 23, 2013
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The North Suburban area became popular with the affluent wanting to escape urban life, beginning after the Great Chicago Fire, and grew rapidly before and just after World War II. Large estates were built, along with lavish homes with well established architects. North Shore-Glencoe remains one of the most sought after and highly educated areas in the United States.
The term Chicago North Shore became common for businesses in numerous nearby inland Chicago suburbs. in the Evanston, Maine, New Trier, Niles and Northfield Townships and in southern Lake County, Illinois, it was common to name themselves “North Shore,” and for real estate and other marketers to use the term for North Shore communities as a frame of location; which caught on and became a confirmed reference to the area. More information HERE and HERE
February 13, 2013
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Breathtaking property, architectural treasure on Chicago’s North Shore Glencoe! http://ht.ly/hHlsB
January 14, 2013
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North Shore-Glencoe December real estate YTD sales are running 10.2% ahead of last year’s year-to-date sales. Overall property sales figures show -36.4% from December of 2011 and -41.7% lower than sales last month. December 2012 sales were at their lowest level compared to December of 2011 and 2010 sales data.
The Median Sales for Chicago North Suburban Glencoe was -8.7% compared to reports from December of 2011 and up 3.2% from last month. The Average Sales Price in December was down -23.5% compared to December of 2011 and down -24.6% from last month. December 2012 ASP was at the lowest level compared to December of 2011 and 2010 figures.
Inventory & MSI
The Total Inventory of North Shore-Glencoe Properties available for sale as of December was down -24.3% from data compiled last month and down -39.1% from outcomes in December of last year. December 2012 Inventory was at the lowest level compared to December of 2011 and 2010.
A comparatively lower MSI (monthly supply of inventory) is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The December 2012 MSI of 8.0 months was at its lowest level compared with December of 2011 and 2010.
The average Days on Market in Chicago North Suburban Glencoe (DOM) shows how many days the average real estate property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a North Shore Buyer’s market, a downward trend a move towards more of a North Shore Seller’s market. The DOM for December was 97, up 51.6% from last month and up 9.0% from sales data listed in December of last year. The December 2012 DOM was at its highest level compared with December of 2011 and 2010.
Inventory / New Listings / Sales
‘The view above provides a summary of the North Shore market combining monthly inventory of North Shore 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 December specific to Glencoe in 2012, was down -88.9% from 18 last month and down -71.4% from figures posted in December of last year.
Glencoe’s high performing Coldwell Banker Residential Real Estate office located in the downtown district (640 Vernon Ave., 60022) can be a source for up-to-date real estate news, reporting, figures, analysis, outcomes, projections, and overall market conditions. Gloria Matlin, an exceptional North Suburban Realtor, has been helping buyers and sellers connect with their real estate dreams, on Chicago’s North Shore, for over 25 years. Feel free to stop in for immediate assistance.
January 7, 2013
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Now in 2013, optimism and confidence in Chicago’s North Suburban real estate market is increasing. Growth has been seen throughout 2012 and housing recovery is no longer a hush term. 2013 is forecasted to be one of the most productive and best performing real estate years on record. Below are 4 reasons to rejoice and scream out “Happy New Year”:
1. Increase in first-time North Shore home buyers-Recent trends and surveys suggest that growth in demand for North Shore-Chicago homes will likely be driven by first time home buyers. The National Association of Realtor’s released a survey in November of 2012 that showed 39% of borrowers were first-time property purchasers, up 37% from 2011 figures. See Survey HERE.
2. North Shore Home prices are on the rise-Confidence in the North Shore market has fueled demand in homes. The inventory available often gets snapped up quickly. In addition, new home construction may need to increase to keep up with population growth. A recent report by the National Association of Realtors (NAR) in October of 2012, showed a slight decrease of 22% in the pace of inventory against population growth and overall inventory availability. This equals higher demand, which results in higher prices.
3. Mortgage rates will rise-Although at a historic low for most of 2012, predictions are betting on the only direction the rates can go…UP! Rates are slated to rise 4% in 2013 according to The NAR. Experts agree that there’s no way the low-interest-rate trend will last forever. Getting into the marketNOW will have the best benefit and create a North Shore real estate asset as interest rates begin to surge again.
4. Rents will rise with young people entering the North Shore market-Many in their twenties and thirties have been waiting, riding out the economy. As the economy picks up, these same groups will look for apartments and rental property, thereby creating greater demand for the rental market. This means a new motivation for North Shore home seekers that may have been on the fence. In recent years rents have been rising nationally at a pace of about 4% based on a Zillow analysis and confirmation that buying beats renting in most metros including North Shore-Chicago. It’s predicted this trend will continue well into 2013. See report HERE.
December 15, 2012
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On Chicago’s North Shore and around the country, relocating has become more common. Some relocate for work, have decided to move somewhere for greater lifestyle access, or are looking for a change of scenery. You may be faced with buying a home in a city that is not only unfamiliar, but in an area larger than anticipated. If you are a real estate investor or frequent vacationer, you might also be looking to buy property far from home base. Of course, buying real estate anywhere other than your current city presents a unique set of circumstances. Here are 4 tips for getting to the end goal….Relocation success!
1. Get a North Shore Real Estate Agent
Look for an experienced North Suburban Realtor/Broker in your intended village/city. Because of possible unfamiliarity with the area and the other unique challenges of not buying locally, you want to work with a professional who really knows what they’re doing. You may even be able to find an agent who specializes in helping people who are relocating, and who will be acutely aware of both your unique requirements and their ability to educate you about the local North Shore real estate market. You want a professional who can steer you toward exceptional neighborhoods and an ideal fit to with your lifestyle and overall needs.
Make sure you fully inform the North Shore real estate agent about your situation. For example, what is your moving timeframe? When will you be able to visit the area? Can the agent set aside a day to show you numerous North Shore properties while you’re in town? More than likely you’ll have limited time to view properties in person, and you’ll need someone who can help you organize and maximize your time. An experienced, high performing North Shore Realtor can do just that.
2. Get familiar with Possible North Shore Neighborhoods
All the usual criteria will also apply when searching for the right North Shore neighborhood – affordability, school quality, proximity to work, etc. The specific neighborhood you choose should reflect your current needs and lifestyle requirements.
3. Get Familiar with the Local North Shore Real Estate Market
Take advantage of all the resources available to you, including your Chicago North Shore real estate agent, in-person visits, chats with local residents, and online real estate reports, data, research, and listings to learn about your new digs. Ask lots of questions of your realtor, they are a wealth of market conditions information.
4. Don’t Avoid an In-Person Visit
And finally, once you’ve decided what you want, reviewed your must have list with your North Shore Realtor, done all your research, or found a few potential properties, you’re ready to get serious about taking the next steps and ultimately making an offer. But make sure you visit the homes in person at some point. Buying a home sight unseen can be tricky. No matter how much you trust your real estate agent’s sound judgment, the only person who really knows if you will like a particular property is you. More info HERE and HERE.
As a certified Cartus Relocation Specialist, Gloria Matlin helps out of area buyers and sellers find the perfect North Shore property to call home..On the Go? Move with Glo! She understands that moving/relocating can be an overwhelming and emotional endeavor. She prides herself on her North Shore community knowledge, involvement and; embracing the newest real estate tools/trends that keep her in the forefront so she can be there for her buyers-sellers 24/7.