Is a Smart Home in Your Future?

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Ahead of the “smart” trends, maintains an accurate pulse on the Chicago North Shore real estate market, personable, tenacious, client focused, top performer, high ranking results, and dedicated to making North Shore real estate dreams come true for over 25 years; Gloria Matlin is the optimal choice for all things real estate on the Northern Shores of Chicago. 640 Vernon Avenue, Glencoe, Illinois, 60022.

Les Boomer's Real Estate Updates

Hello? Remember when we used to answer the phone… at home… tethered to a wall and it was actually someone we knew? Today, most people have a smart phone. The years between those two devices are not as far apart as the way our lives have changed. Does that mean a smart home might be in our future?

In many ways, our homes have been getting “smarter” for years. While we used to water by hand, most now have automatic sprinklers. Most garage doors now open and close remotely. We have thermostats that automatically control the temperature. We have timers that turn the lights in a room on and off when we’re on vacation. Move over George Jetson, we can even change the channel on our flat screen without getting up. What used to be amazing has quickly become common place.

jetsons

So what can we expect in the future? Certainly some items that are being considered might not be on…

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Real Estate Outcomes July2014: Chicago’s North Shore

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Glencoe-MarketReport

Monthly Market Update (Click to Play)

Prices

More great news for late summer 2014…The Median Chicago North Shore Sales Price in July was up 2.1% from market action reporting in July of 2013 and down -0.9% from sales figures reported last month. The Average Sales Price in July was up 6.3% from totals calculated in July of 2013 and down -2.0% from last month. July 2014 ASP was at highest level compared to July of 2013 and 2012.

Market Time

The average North Shore Days on Market (DOM) shows how many days the average North Shore 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 July was 40, down -20.0% from 50 days last month and down -27.3% from 55 days in July of last year. The July 2014 DOM was at its lowest level compared with July of 2013 and 2012.

Property Sales

July Chicago-North Shore Property sales were down -11.9% from totals in July of 2013 and -5.1% lower than sales totals last month. July 2014 sales were at a mid-level compared to July of 2013 and 2012. July YTD sales are running -12.0% behind last year’s year-to-date sales.

Inventory & MSI

The Total Inventory of Northern Shore Properties available for sale as of July was up 2.6% from last month and up 6.6% from July of last year. July 2014 Inventory was at a mid-range compared to July of 2013 and 2012.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The July 2014 MSI of 3.8 months was at a mi- range compared with July of 2013 and 2012.

Inventory / New Listings / Sales

This summary view below of the North Shore-Chicago 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 North Shore Listings in July 2014 was down -14.1% from market action reporting total last month and up 3.3% from figures in July of last year.

July2014MarketAction-GM

With over 25 years of the highest quality North Shore real estate service, a sincere and client focused approach to making North Shore real estate dreams come true, Gloria Matlin is the ideal professional you want representing you. Her consummate professionalism, kind nature, tenacious and profoundly knowledgeable style will ensure you can make confident real estate decisions. Whether relocating, downsizing, upsizing, investing, or simply inquiring, she is the trusted resource with a keen and accurate pulse on the current Chicago North Shore real estate market.  Her office is located at 640 Vernon Avenue, Glencoe, Illinois, 60022-Coldwell Banker Residential Real Estate.

Why Buying a Home NOW Makes Sense-Chicago North Shore Real Estate

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Interest rates are low, employment is rising, home prices—in most markets—are still well below their peaks, and rents are on the upward climb. Buying a house is a highly individual decision—and a local one—but current trends are creating a favorable situation for many would-be North Shore Chicago homeowners.Now-later

Every family and each individual has various factors affecting the ability and the decision to buy a home. See reasons below that help support why it might make sense to buy a house, right now.

  1. Interest Rates Are Still Low
    Mortgage interest rates are still low—for now. A 30-year-fixed-rate loan now averages 4.16%, according to Freddie Mac, but many economists believe we will see 5% rates next year. As interest rates increase, so do your monthly payments.
  2. Home Prices Are Going Up
    The median price of an existing home was 4.3% higher than June 2013. That’s the 28th consecutive month of year-over-year price gains, and economists expect that trend to continue. However, we are still at least 20% off the peak prices of 2006. Bottom line, home prices are on the rise.

**Important Tip to Remember:  You might get lucky one or two times, but overall, timing the market does not work. It all points to purchasing power, and that’s a reflection of price and interest rates, which will both be higher in the future….No time like the present. More information HERE.

Experience, grace, tenacity, top-tier performer, high-ranking results, client focused, trusted resource, 25+ years of Chicago-North Shore community insight, marketing savvy, technology savvy…A few words and phrases to describe real estate professional Gloria Matlin. For an online introduction and feedback from her clients visit HERE and HERE.