My Joys in North Shore Real Estate: Glencoe Top Selling Realtor

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Good North Shore real estate news goes hand in hand with spring and summer-time anticipation! Recent North Shore housing reports support that this is one of the best times in history to buy or sell. I am excited about sharing this news with new and repeat home buyers. Mortgage interest rates are at an all time low, and home prices are incredibly attractive! Those factors create positive projections well into 2012, and help to ensure my expertise in new construction and luxury residences is well utilized. I gain a tremendous amount of joy knowing that I can offer real estate services that are welcoming to both buyers and sellers. As a North Shore Realtor, as well as a member of the North Shore community, and proud mother of a New Trier School District Alum; this area shows an abundance of real estate progress in the last few months. This spring surge is typical in a cyclical housing market with activity levels running high when the weather gets even warmer. However, this year’s spring surge is strong and came earlier than last year. Home buyers appear motivated to get back in the market, this is a robust time and I sense the momentum will continue well into the summer! I encourage potential buyers, sellers, and investors to review the supporting data, it speaks volumes. 

For buyers– Keep in mind that with increased interest in the market brings competition. To increase your chances of finding your dream home in a market that may be competitive, and to decrease the odds of you losing out to another buyer:

Review new listings. Check out web sites such as REALTOR.com, Trulia, or Zillow. Browse your local newspaper’s real estate section, and drive through the neighborhood to spot For Sale signs. If you see a home you like, write down the address and your North Shore Realtor will schedule a showing.

Maintain contact with your North Shore Realtor to find out about the newest listings in your ideal area. Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go pretty fast.

Overlook a buying frenzy. Just because there may be competition doesn’t mean you should just buy the first thing you see. And even though you could make your offer attractive, don’t overlook inspections or due diligence that help ensure that your dream house is sound.

Be confident and ready to make a decision. Spend a lot of time in advance deciding what are “must haves” or deal breakers, so you won’t be unsure when you have the chance to make an offer.

For Sellers selling a North Shore home or any home for that matter commonly requires that you have several forms, reports, mortgage documents, policies, deeds, and settlement statements all in order. A knowledgeable and experienced North Shore real estate expert will help you prepare the best deal, and avoid delays or costly mistakes. A few pre-selling tasks to note:

Notice curb appeal. Pretend you’re a buyer and stand in front of your home. As you approach the front door, what is your first impression of the property? Do the lawn and bushes look neatly maintained? Is the walkway clearly seen? Are pretty objects framing the entrance?

What are your thoughts on this subject?  I look forward to hearing from you!

My North Shore Coldwell Banker Residential real estate office is located in Glencoe, Illinois-640 Vernon Ave. Stop in for help or questions on buying, selling, renting or local area information/mapping.

 

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Housing Recovery….7 Reasons to Invest Now: North Shore Real Estate

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The tell-tale North Shore signs are all there. Real estate sales on Chicago’s North Shore have picked up considerably and recent housing reports support that. Low interest rates, enticing price points, and buyers prepared and enthusiastically ready to invest in North Shore real estate are well under way; maintaining the path to full housing recovery. But for the leery, I’ve outlined seven reasons why right now may be one of the best times to buy in history:

Predictability. Unlike paying rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer.

Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

Equity. Money paid as a renter is money that you’ll never see again, but mortgage payments allow you to build equity ownership interest in your home, that builds over time.

Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

Freedom. The home is yours. You can decorate, remodel, or add-on any way you want and benefit from your investment for as long as you own the home.

Stability. Remaining in one neighborhood for several years gives you a chance to participate in community events, lets you and your family establish roots, lasting friendships, and offers your children the benefit of educational consistency.

Supporting articles and reports:

http://speakingofrealestate.blogs.realtor.org/2012/04/19/prices-up-inventories-down/

http://northshorepropertysearch.com/2012/04/23/everybody-calm-down-the-market-is-recovering/

Use our Coldwell Banker Residential Brokerage office located in Glencoe, Illinois-60022 as your guide.  Our experienced North Shore realtors can provide additional detail on buying or selling a home. Let our 45+ years of legendary service, top volume, and award-winning results speak for themselves.

Glencoe-North Shore Market Trends: Update April-May2012

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As of April2012, North Shore-Illinois real estate home sales reports reflect the best housing conditions in four years according to the Illinois Association of REALTORS®!

Statewide home sales including Chicago’s North Shore-Cook County area (single-family homes and condominiums) in March 2012 totaled 9,575 homes sold, up 21.1 % from 7,904 home sales in March 2011. This was the best March real estate performance since 2007 when 11,979 homes were posted as being sold.

“Sales volumes are up, time-on-the-market levels are down significantly from a year ago and prices appear to be stabilizing in Illinois although continuing to fall in Chicago. Further, in the last month there was a more even spread of sales prices compared to previous months where homes sold for less than $200,000 dominated the market;” according to said Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) at the University of Illinois.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central as well as the North Shore region was 3.99 percent in March 2012, down from 3.91 percent during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in March it averaged 4.86 percent.

In the nine-county Primary Metropolitan Statistical Area (PMSA) which includes Chicago’s North Shore, home sales (single family and condominiums) in March 2012 totaled 6,590 homes sold, up 23.8 percent from March 2011 sales of 5,323 homes. The median price in March 2012 was $151,850 in the Chicago PMSA, down 3.9 percent compared to last year’s data in March when it was $158,000.

Distressed properties-foreclosures which were once backed up in the court system are beginning to be resolved, interest rates continue to be at near-record lows and prices are attractive; mentioned Alonzo Loretta president of the Illinois Association of REALTORS®  . Bob Floss, president of the Chicago Association of REALTORS® stated that “REALTORS® are continuing to see an increase in the number of buyers looking to buy a home today, as rents are going up and interest rates are at an all-time low. I could not agree more!

More than half of Illinois counties reporting showed year-over-year home sales statistics increases in March 2012. Sixty-seven (67) counties showed year-over-year median price increases including North Shore Cook County-Glencoe areas.

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-North Shore real estate Data LLC data as of April 7, 2012 for the period March 1 through May 2012. 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.

Find Illinois housing stats data and the University of Illinois REAL forecast at www.illinoisrealtor.org/marketstats or HERE

Our Coldwell Banker Residential Real Estate office, (located in Glencoe’s downtown district-640 Vernon Ave, 60022) is a wealth of North Shore real estate information. Our award winning realtors can answer questions about real estate reports, market conditions, statistics, projections and real estate history.  Stop in today for a free market summary.

Top 12 Ways to Hold a Successful Garage Sale: North Shore Real Estate

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From the point of view of  many as well as several North Shore realtors, garage sales can be a great way to get rid of clutter, organize your home — and earn a little extra cash all at the same time, before selling a home. Tis’ the season to sell during spring, but make sure the timing is right. Garage sales can become overwhelming and take on a life of their own. It might not be the best use of energy right before putting your home on the market. Follow the guide below to determine what is best:

  1. See if neighbors want to participate. You can turn your garage sale into a block-wide occasion and attract more shoppers if you team up with neighbors. However, a permit may be necessary for each home owner, even if it’s a group event.
  2. Plan the sale. Sales on Saturdays and Sundays will produce the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.
  3. Don’t Procrastinate. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived in the North Shore home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.
  4. Du Diligence-get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city/village.
  5. Market-Advertise. Place an ad in free classified papers and Web sites, and in your local North Shore newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.
  6. Label and price items well. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.
  7. If it’s junk, don’t sell it. Decide what’s worth selling and what’s not. If it’s really garbage, then throw it out. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure an item works.)
  8. Check for errors.  Make sure that items you want to keep don’t accidentally end up in the garage sale pile.
  9. Have bags and newspapers ready. People who buy items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.
  10. Have an organized display. Lay out your items by category, and display neatly so customers don’t have to dig through boxes.
  11. Handle money matters. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It’s smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.
  12. Get ready to sell your home. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it’s time to focus on preparing your house for a successful sale!

Real Estate Outcomes March2012: Chicago’s North Shore

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Property Sales

Reflecting data in April 2012, Chicago’s North Shore-Glencoe March 2012 real estate Property sales were down -52.9% from March of 2011 and equal to 0.0% 8 sales last month. March 2012 sales were at a mid-level compared to March of 2011 and 2010. March YTD sales of 24 are running -29.4% behind last year’s year-to-date sales of 34.

 Prices

The Median north shore   Sales Price in March was $972,000, up 36.9% from $710,000 in March of 2011 and up 101.7% from $482,000 last month. The Average Sales Price in March was $1,645,063, up 118.2% from $753,912 in March of 2011 and up 124.5% from $732,750 last month. March 2012 ASP was at highest level compared to March of 2011 and 2010.

 Inventory   & MSI

The Total Inventory of North Shore Properties available for sale as of March was 98, up 2.1% from 96 last month and down -8.4% from 107 in March of last year. March 2012 Inventory reporting was at the lowest level compared to March of 2011 and 2010.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for buyers. The March 2012 MSI of 12.3 months was at a mid-range compared with March of 2011 and 2010.

 Market Time

The average Days On   Market (DOM) shows how many days the average North Shore Property is on the   Market before it is sold. 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 March was down -24.0% from 167 days last month   and down -26.2% from 172 days in March of last year. The March 2012 DOM was at its lowest level compared with March of 2011 and 2010.

 
 

Inventory /   New Listings / Sales

The attached graph shows the basic annual seasonality of the North Shore market as well as the relationship between these items. The number of New Listings in March 2012 was 34, up 41.7% from 24 last month and up 70.0% from 20 in March of last year.

 Feel free to utilize our Coldwell Banker Residential Brokerage Office.  We can review market reports, supply real estate property value analysis, help you find a home, sell a home, or get a map on the local places to go/see. We are located at 640 Vernon Ave, Glencoe Illinois 60022.  Let our top ranked service guide you through the North Shore Real estate process. Our North Shore realtors are top rated. You can also review more reports at www.gloriamatlin.com 

5 Tips for Buying and Selling at the Same Time: North Shore Real Estate

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A common North Shore occurrence….clients who buy a home and sell at the same time; it can be done, stress free! The all too important element that makes the North Shore real estate process seamless is using an experienced agent that can guide you through a well thought out plan.

There are hundreds of variables and the possibilities, depending on your local market and your personal and financial status.  The main thing is to do as much of the buying and selling due diligence as you can up front. An experienced realtor can help with this.. Your agent can further ensure multi-transaction success by discussing these 5 tips:

1. Finances should be reviewed inside and out. You need to know not only what you can afford to buy, but also, what your house is worth before you even get started. Talk to your North Shore real estate agent and consult a mortgage banker or broker for loan pre-approval.

2. Ready? List it! Depending upon your situation, you might want to list your property toward the higher end of its value range, once you’re actively in the market. This can buy you time while you shop for your next home. And who knows? You may get the home sold at a higher price point.

3. Do the fixes needed to do to sell your property. Is your kitchen right out of the 1970s era? Do you have a faucet that constantly runs? If so, get busy fixing the things that could cause your home to sit on the market longer than necessary or worse, affect your home’s value.

4. Start now– learning the market, begin house shopping.  Use your North Shore realtor as your guide. Start going to open houses and seeing what’s out there. Begin the process of elimination and take note of what you want: the must-haves and the deal killers.

5. Start packing. Start boxing up stuff you don’t need easy access to. Get rid of all the things you won’t need until you’ve moved into your new home. This will help make your home show better and starting the packing process now will make it that much easier to move later. You may need to rent a storage unit temporarily for your stuff.

Our North Shore Coldwell Banker Residential Brokerage office located in Glencoe’s downtown area (640 Vernon Ave, 60022), can assist with buying and selling real estate questions. We also provide mortgage service resources and options.  Visit us online 24/7 or stop by our office to speak with Gloria Matlin or any of our top ranked North Shore realtors.