Are you prepared for home ownership?

Reblogged from mortgagemaestro:

There is so much more to consider when buying a home besides finding a good lender and realtor.  Have you prepared yourself for what exactly home ownership will cost you, outside of your monthly mortgage payment?  For most first time homebuyers the thought of home ownership is so exciting and this energy and excitement can sometimes put a glaze over your eyes that prevents you from seeing the "big" picture of home ownership. 

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This is a well crafted breakdown of what may be needed as a first time home owner on Chicago's North Shore or anywhere. Gloria Matlin is among the highest performing Realtors on the North Shore of Chicago. Producing client centered results for well over 25 years; she prides herself on making real estate dreams come true.

Glencoe-North Shore Market Trends: Update April-May2013

North Shore Chicago Real Estate is off to a HOT start for spring!…..According to the Illinois Association of REALTORS®, Illinois home sales increased 13.6% over previous-year data in March and median prices increased 3.6%. Statewide home sales including the North Suburban area in March 2013, totaled 10,992 homes sold, up from 9,679 in March 2012. Statewide real estate market action reports showed monthly year-over-year gains since July 2011.

This period traditionally marks the busiest time in a year for the North Shore real estate market. Currently, listings under Contract were up 36.1%. Inventory levels shrank 40.4% to 2,608 units. Two factors to highlight are the reduced market times before a home sells, along with reduced inventory levels. They support the current intense interest home-buyers have to take advantage of low prices that will ultimately increase, and locking in a desirable interest rate. This is an ideal time for sellers to list homes and sell quickly if priced right. The North Suburban Chicago Spring real estate market is thriving and benefiting buyers and sellers alike. See supporting data from The North Shore-Barrington Association of Realtors and Midwest Real Estate Data LLC  in the image below (Click to enlarge):

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Suburban region was 3.54 percent in March 2013, up from 3.49 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last March it averaged 3.99 percent.

Director of the Regional Economics Applications Laboratory of the University of Illinois, Dr. Geoffrey J.D. Hewings stated: “The inventory in both the state and Chicago markets suggest that demand has begun to return to the housing market.” Forty-four (44) of 102 Illinois counties, including the north suburbs of cook and Lake Counties, showed year-over-year home sales increases in March 2013.

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 April 7, 2013 for the period March 1 through March 31, 2013 and will continue with real estate updates in April 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 a real estate professional with a long-standing and compelling record of top producing accomplishments in the North Suburbs of Chicago.  She has been a trusted resource providing unparalleled Chicago-North shore real estate insight, performance, knowledge, expertise, and sound guidance for over 25 years. Visit her home base-Coldwell Banker Residential Real Estate office located in Glencoe: 640 Vernon Ave, 60022; or find her HERE for the latest trends, market reports, data, relocation options-designations, and information on her unique client driven approach to real estate.

Ready to Sell? Top 5 Spring Prep Tips Before Listing: North Shore Real Estate

Chicago North Shore real estate is well within the spring buying and selling season.  North Shore Realtors may often advise clients of five basic principles to get your home in top “list ready” condition. Buyers and sellers alike are out right now (on-line and in-person) perusing real estate options on places like Zillow and Trulia. Using these tips can promote a competitive standing in the market and make buyers appreciate the thoughtful preparation by doing the following:

1. Clean and Organize. Eliminate any clutter and pack up your least-used items, such as large pictures or photos, out-of-season clothes, non-used kitchen items, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or even the basement. Clean the windows, carpets, walls, flooring, lighting fixtures, and baseboards to make the house sparkle. Having a garage sale may even be an option if time permits.

2. Go crazy on the curb appeal. Spring and summer mean getting out and enjoying the weather. It also means every detail of the outside of your home is far more noticeable.  Just put yourself in a potential buyers shoes and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly displayed? Is the address clearly visible from where you are? Are pretty flowers or plants framing the entrances? Is the walkway free from debris and impediments?

3. Collect needed replacement estimates. Do you have big-ticket items that are worn out, out dated, or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace those things, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be a helpful guide for both parties when negotiations begin.

4. Know where to find your warranties. Collect the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other appliances or equipment that will remain with the house after it’s sold.

 5. A pre-sale home inspection is Key. Be ahead of the game by arranging for a pre-sale home inspection. An inspector will be able to give you a good outline of the trouble areas that will stand out to potential buyers, and you’ll be able to make needed repairs before an open house begins. The inspection may also be an additional guide for contact negotiation.

The Coldwell Banker Residential Brokerage office located at 640 Vernon Ave in Glencoe, Illinois-60022; is home  to Gloria Matlin and other top performing North Suburban Realtors. The office has been a high performing real estate resource for the North Shore area for well over 40 years.  Stop in today to discover how they can assist with home buying, home selling, home rentals, market action reports, or just to get info on Chicago’s North Shore communities and things to do/places to go!

Glencoe-North Shore Market Trends: Update March-April2013

Great News! Home sales statewide, including Chicago North Shore have posted monthly year-over-year volume gains since July 2011; per information recently released by the Illinois Association of REALTORS®.

So far North Shore sales volume has been encouraging. The first two months in a year are traditionally slower in terms of real estate progress, but this year to date the market is off to a robust start. North Shore Market appeal is strongly supported by ongoing attractive mortgage rates and ideal turn-around time-frames for sellers; a win-win combination for all involved in the Chicago North Shore real estate transaction process. The future looks bright for April 2013 North Shore home sale projections.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Shore-North Central region was 3.49 percent in February 2013, up from 3.40 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last February it averaged 3.91 percent. In the nine-county Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single-family and condominiums) in February 2013 totaled 5,935 homes sold, up 20.2 percent from February 2012 sales of 4,936 homes.

Forty-seven (47) of 102 Illinois counties reporting to IAR including the North Suburban area showed year-over-year home sales increases in February 2013. Lake, up 7.4 percent Cook, up 4.7 percent.

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 March 7, 2013 for the period Feb. 1 through Feb. 28, 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.

The Illinois Association of REALTORS® is a voluntary trade association whose 41,000 members are engaged in all facets of the real estate industry. In addition to serving the professional needs of its members, the Illinois Association of REALTORS® works to protect the rights of private property owners in the state by recommending and promoting legislation to safeguard and advance the interest of real property ownership.

Find Illinois housing stats, data and the University of Illinois REAL forecast atwww.illinoisrealtor.org/marketstats.

Glencoe-North Shore Market Trends: Update February-March2013

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.

Glencoe-North Shore Market Trends: Update January-February2013

Outstanding North Shore real estate conditions for a new year. According to recent reports by the Illinois Association of REALTORS®, home sales surged 15.2% in December compared to previous-year levels and median prices topped off at 5.6% on average, across the state. See the supporting image below provided by Midwest Real Estate Data LLC and North Shore-Barrington Association of Realtors (click to enlarge):

In addition, the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.32% in December 2012. Last December it averaged 3.94%, according to the Federal Home Loan Mortgage Corp.

2012 showed stable signs of North Shore real estate recovery. As a result, an uptick in Chicago North Shore housing market figures was sustained across the board. Specifically ownership versus rental generation supported an increase in North Suburban housing sales that have spilled into 2013; with a decrease in market days before a North Shore property is sold. Confidence was seen in December of 2012, normally a slower period surrounding holiday sales performance. New Listings in the North Shore-Barrington region increased 1.0 percent to 407. Listings under Contract were up 56.1 percent to 451. Inventory levels shrank 39.6%. Low mortgage rates provided ongoing incentives to purchase, refinance and sell. All signs of inventory clearing and projected to produce positive figures well into 2013. Image below provided by Midwest Real Estate Data LLC and North Shore-Barrington Association of Realtors (click to enlarge):

 

In the nine-county Chicago-North Shore Primary Metropolitan Statistical Area (PMSA), home sales (single family and condominiums) in December 2012 totaled 7,372 homes sold, up 19.2 percent from December 2011 sales. Fifty (50) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in December 2012. Thirty-nine (39) counties showed year-over-year median price increases including Chicago North Suburban Cook, up 7.7%.

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 Jan. 7, 2013 for the period Dec. 1 through Dec. 31, 2012, reporting in January 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. 

Glencoe-North Shore Market Trends: Update November-December2012

Once again, Continued gains for Chicago-North Shore home sales volume, according to a recent report by the Illinois Association of REALTORS®. October sales soared 37.3% over previous-year real estate conditions, and statewide median prices increased 3.0%.

The October median price reflects a 12.9 percent gain from the year’s low. The median is a typical market price where half the homes sold for more and half sold for less. On the North Suburban Shore we are seeing strong sales and decreased market times as we enter the last quarter of this year. Listings Under Contract were up 52.7 percent to 643. Inventory levels shrank 34.6 percent to 3,315 units. Market Times were down 4.6 percent to 152 days. Absorption rates improved as the Month’s Supply of Inventory was down 49.7% to 5.8 months. In addition,  the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.36 percent in October 2012, down from 3.49 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last October it averaged 4.07 percent. These figures are encouraging for buyers and sellers alike who appear to be more confident about the housing market. See supporting data from NORTH SHORE BARRINGTON ASSOCIATION OF REALTORS® and MIDWEST REAL ESTATE DATA LLC below (click to enlarge):

Statewide home sales (including single-family homes and condominiums) in October 2012 totaled 11,775 homes sold, up from 8,577 in October 2011. The last time this many houses sold in October in Illinois was in 2006 when 13,067 homes were sold.

Sixty-eight (68) of 101 Illinois counties including Chicago’s North Shore reporting showed year-over-year home sales volume increases in October 2012. More than half (53) counties showed year-over-year median price increases including Cook, up 3.4%. See supporting analysis below (Click to enlarge):

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 Nov. 7, 2012 for the period Oct. 1 through Oct. 31, 2012 reflected into November 2012. 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.

The Illinois Association of REALTORS® is a voluntary trade association whose 41,000 members are engaged in all facets of the real estate industry. Find Illinois housing stats, data and the University of Illinois REAL forecast at http://www.illinoisrealtor.org/marketstats.

Let our high performing, best ranking, optimal producing North Shore Realtors be a steady resource. Our Coldwell Banker Residential Real Estate office is located in the downtown district of Glencoe, Illinois-60022(640 Vernon Ave). Stop in and feel free to discuss this report and any other real estate topics that affect the North Shore area of Chicago.

Halloween: Places to Go and Things to Do-North Shore Chicago

Here on Chicago’s North Shore, real estate reports, data, and analysis are just as important as All Hallow’s Eve, Hallow E’en, or the classic Halloween. Whatever name you may choose, this unique time has been considered for centuries as one of the most magical nights of the year.

Below is a list of the latest and greatest places to go and things to do on the North Suburban Shore of Chicago; this special week of fall festivals, events and Halloween outings:

Glencoe Halloween & fall functions

 

North Shore options all around

 

Chicago and surrounding area events

 

Even more North Shore-Chicago happenings

Our top ranking Glencoe Coldwell Banker Residential Real Estate office will be participating in the Halloween Celebration. We are located at 640 Vernon Ave-60022 in the downtown area. Have a happy and safe Halloween week!

What a great way to take in the beauty of autumn-Chicago’s North Shore-Glencoe

What a great way to take in the beauty of autumn on Chicago’s North Shore-Glencoe…. http://ht.ly/eeNKy

New Listing – 351 Adams Ave., Glencoe.-Chicago North Shore Real Estate

New Listing/Just Listed/For Sale/New on the market - 351 Adams Ave., #Glencoe..NEWER CONSTRUCTION, PERFECT FOR TODAY’S LIFESTYLE, MOVE RIGHT IN! See the North Shore property tour here http://ht.ly/cUsBP and additional information HERE as well as HERE.  Contact Broker-Realtor Gloria Matlin for a private showing.

Come experience the amazing open floor plan with natural light filtering in from the abundance of windows all around. Hardwood oak floors are throughout this breathtaking home, along with crown moldings, detailed ceilings and recessed lighting. Feel free to stop by our Coldwell Banker Residential Real Estate office to enquire about this Chicago North Suburban property. We are located in the heart of downtown-640 Vernon Ave., Glencoe, Illinois-60022.