Seasons Change Means 2018 Opportunity Arises: North Shore-Chicago Real Estate Trends

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School has begun, days are getting shorter, and the networks are eagerly trying to gear us up for football. And 2018 home sales are still brisk—despite historical four-seasons-layered-croppedseasonally adjusted outcomes we’re used to seeing.

Seasonal adjustments help make data that are inherently seasonal easier to compare month to month. You can’t get a good picture of whether it’s a good or bad year by comparing typically slow January with typically busy July. But they also lull us into a false sense of reality that all months are similar, or merely go up and down based on the strength of the market.

The raw data tell us that real estate follows a clear seasonal pattern. Inventory peaks in the summer. Sales peak in the summer. Real estate Web traffic peaks in the summer. Notice the trend?

But each local market has its own cycle. The school calendar plays a big role since families with kids prefer to move while school is out. And not all schools start at the same time.

Looking at existing-home sales data at the national level over the past several years, June averages almost twice the volume of sales as January. But inventory doesn’t vary quite as much. The typical peak for inventory is in July, but the inventory in July is usually only about 25% higher than in December. The discrepancy between the variation in sales and the variation in inventory presents an opportunity for buyers.

When sales are slower due to the season, the age of inventory rises. We monitor the median days on market of active listings, which typically bottoms in June and peaks in the winter months of December and January.

As the age of inventory increases, buyers could gain more leverage. That’s why prices are also seasonal, often peaking each summer when demand is highest and the age of inventory is lowest.

So take heart, would-be buyers! If you can resist the herd and ignore the school calendar, you will face less competition in the off-season. And if you can find a home that fits your needs, you will have more bargaining power! More info HERE

2018, October: With more than 25 years of top producing, high ranking, client-focused performance, Gloria Matlin and partner Zack Matlin remain consummate real estate professionals for Chicago’s North Shore. Dedicated to making dreams come true and providing the highest quality service for each and every client, Gloria Matlin is the real estate resource you want for every season. See intro HERE

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Spring 2018-May Means Mother’s Day Month – Chicago North Shore

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Spring 2018 well wishes, and happy Mother’s Day Month from Gloria Matlin and Zack Matlin. With over 25 years of dedicated Chicago North Shore real estate experience, personable, driven, top producing, high ranking real estate professionals with a client centered focus for making real estate dreams come true; look to this dynamic team for an elite level of North Shore real estate service on the North Shore of Chicago:

The Mash Team Blog

Home is where Mom is, so why not give Mom a piece of home this Mother’s Day?

Don’t forget Mother’s Day is May 10th this year! As we discovered last year, Home is Where Mom is.  So, why not give Mom a little piece of home this Mother’s Day? These 5 unique homemade Mother’s Day Gifts are guaranteed to show her how much you care.

Lemon-Sugar-Scrub-DIY-CraftLemon Sugar Scrub via Living Locurto – Mom deserves a little R&R. Give her a spa day at home with a DIY lemon sugar bath scrub and then leave her alone long enough to take a nice relaxing bath.

CoastersTile Photo Coasters – Give mom a gift that’s worth a thousand words and serves a practical purpose. These tile photo coasters are an easy do-it-at-home Mother’s Day Gift that will make Mom smile every day over her morning coffee.

Chalkboard Flower PotsChalkboard Flower Pots via Learning, Creating, Living –…

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Strong Market Momentum Continues in Summer – North Shore/Chicago Real Estate

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Recent Listings by Gloria Matlin (Click image for more info)

As we joyfully move through summer 2016, Illinois, Chicago and North Shore home sales saw a June surge higher than last year while median prices also saw strong gains, according to the Illinois Association of REALTORS®.

The time it took to sell a home in June averaged 63 days statewide, down from 68 days a year ago and faster than 72 days last month.

Sixty-one (61) counties recorded median price gains in June 2016 over previous-year numbers, including Cook  County, up 9.2 percent and Lake County, up 14.0 percent. Sellers keep reaping the rewards of a market that has continued to see median prices edge higher every month this year, Consumer interest remains keen, as shown by the month-over-month increases in sales recorded since February and the relatively short time it is taking to sell a home. More information can be found HERE

Real estate is all about location,location, location…Click the image below to explore local market conditions, sales trends and more through Coldwell Banker’s detailed yet easy to understand videos that capture facts and info you need for any location you choose:

Monthly Market Update (Click to Play)

Monthly Market Update (Click to Play)

With long standing top producing, high ranking, client focused passion for real estate, Gloria Matlin with son and partner Zack Matlin, remains North Shore’s consummate real estate professional. With over 25 years of experience, confidently look to her for all things Chicago’s North Shore real estate this summer season 2016.

House of The Week!…..#Glencoe #Chicago

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House of The Week!…..#Glencoe #Chicagorealestate #NorthShoreChicago #ChicagoNorthShore #Chicagoluxury: http://ht.ly/W0bjG

 

Experts Not Worried About Rising Rates – North Shore Real Estate Trends

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Mortgage rates would have to be higher than 6% to discourage prospective fall and even winter home-buyers from

FiveStar-GloriaMatlin-2buying a home. While the jury is still out on what the Federal Reserve is going to do about the Fed Funds rate increase, there is certainty that it will happen at some point in the near future. The lack of consensus stems from mixed signals coming from various components of the economy and the financial situation abroad. The good new is:

How Higher Mortgage Interest Rates Will Impact the Housing Market?

When the Feds decide to raise rates, any increase will be nominal and gradual. The anticipation is that the initial increase will be only 25 basis points (e.g., from 3.75% to 4.00%). This is still about 50 basis points lower than the high reached in the summer of 2013 when the Federal Reserve first announced that it would start fading out of its easy monetary policy.

Nonetheless, Americans are well aware of the anticipated mortgage rate increase that’s coming up: 42% of Americans think mortgage interest rates will increase over the next six months, while 20% believe the rates will stay the same. A third (32%) of Americans, and almost 4 in 10 (38%) Millennials, are still unsure about what will happen to the mortgage rates, with Millennials are not as likely as other generation to think that rates will increase at all over the next 6 months.

Falling houses with percent symbol on sky background

How Do Americans Feel About Rising Mortgage Rates?

Interestingly, for Americans who are looking to purchase a home this year, mortgage rates are not the primary concern. Among Americans who would ever buy a home, most worried about being able to get a mortgage and if they could find a home that they would like. Raising mortgage rate is only the third concern, followed by fears that home prices would increase before they buy a home. But, for millennials aged 18-34 years old, simply being able to get a mortgage is the biggest and marginally larger concern than for all Americans in general. Millennials also worry more about finding a home they like and home prices rising before they worry about raising mortgage rates.

Long story short, an increase in rates would not turn people off from buying a home, but it may slightly lower the price range in which they are looking to buy. Also, the impact is quite dependent on the price range in which the prospective buyer is looking to buy. – See more mortgage rate details HERE

2015-November: For a second year, Gloria Matlin has earned the esteemed Five Star Real Estate award for 2015. This honor is one of many that confirms her standing as Chicago North Shore’s  client driven, top performing, highly trusted real estate professional.  On The Go?…Move with Glo this autumn season.

Spring into Summer with an Elegant English Manor-Kenilworth Real Estate

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The carefully chosen amenities bring the “old world” charm to a new level of luxury!  This Exquisite East Kenilworth, Illinois English manor has elegant design and craftsmanship throughout. A Generous living room with French Doors that lead to a music room. The Stunning gourmet kitchen with separate breakfast room, or Sumptuous master suite on 2nd level, in addition a Magnificent private terraced back yard with 2 separate blue-stone patios, as well as a three car heated garage. Click the image below for additional details:

74 Tudor Place-Listinginfo

Presenting 74 Tudor Place in Kenilworth (Click the image for details)

Holiday Market Updates-North Shore Chicago Real Estate

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Seasonal Chicago North Shore real estate news…

Sold-1day-Glencoe

Visit www.gloriamatlin.com for more information

Gloria Matlin’s area of expertise spans 25+ years with a high-ranking, accolade supported background in new construction and luxury Chicago-North Shore real estate. She with son Zack Matlin, enjoy helping clients form their North Shore real estate dreams from start to finish; whether the client is a first time buyer or seasoned investor, she lends her proven top performing skill-set every step of the way. As a Certified Relocation Specialist– “On The Go? Move With Glo!” Gloria and Zack help out of area buyers, and those relocating find the perfect North Shore place to call home. Representing sellers has always been a passion, creating top producing marketing plans to fit each individual clients needs and helping the client get through what can be an emotional venture.

 

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