Benefits of Year End Real Estate Investing: North Shore Chicago

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Here on Chicago’s North Shore, next to spring, fall is often the busiest real estate time of the year. Although you can buy and sell houses at any time, the fall North Suburban real estate market offers abundant benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, commonly a wider selection of houses, and the beautiful presence of mother-nature all FallScene-2around!

To further provide examples of the North Shore home buying advantages you can enjoy during the autumn months, below is a more detailed look into the benefits of looking for and purchasing a home in the autumn 2017 season.

Mortgage loan year-end tax breaks

By October and November, people are already reviewing year-end tax breaks they may be eligible for. Fortunately for home-buyers, owning a home can yield immense dividends in tax returns. For example, both mortgage interest and property taxes are deductible from gross income. In addition, if you have prepaid ant interest before the due date of your first payment and you close your loan before the year’s end, that amount will also be deducted. Consult a tax professional for specific details and guidelines.

Often more home buying choices

Given that North Shore home buying and selling is at a peak during the fall season, the real estate market often becomes a highly competitive arena. While there may be additional pressure to buy due to the quicker turnaround of houses on the market, at the same time you also benefit from the wider selection of homes available during the fall season. In fact, between the months of September and December, you may be fortunate enough to visit several North Shore open houses in a single day. Therefore, to make sure you don’t miss out on finding your dream house, it’s a good idea to examine on-line ads often since the listings are updated frequently.

Getting ahead of mother mature

Buying a North Shore house in the winter may not be very appealing to most home buyers. Low temperatures and poor weather conditions can potentially make moving more difficult. But by moving in early, mid, even late autumn, you gain the added benefit of eluding the sweltering summer heat.

Fall home buying TIP:  Taking into account that fall is the second busiest season of the year for buying and selling houses on the North Shore, you may be tempted to put a bid on a home for fear that another buyer will better your offer or snatch it up before you. Carefully assess your financial situation ahead of time and before your feet hit the pavement, know what your ceiling is and stick to it. More info HERE

The North Shore real estate Fall 2017 forecast calls for ongoing top tier results, high ranking top producing performance, and sustained elite service from Gloria Matlin and partner Zack Matlin of Matlin Residential Real Estate. With over 25 years of trusted real estate professionalism, she and Zack are the consummate guides on Chicago’s North Shore. Look to them for assistance with relocation, buying, selling, investing, or to inquire about local communities, they can help make North Shore real estate dreams a reality. Gloria’s home office is located within the top brokerage firm on the North Shore-Coldwell Banker Residential Real Estate office. 640 Vernon Avenue, Glencoe, Illinois 60022.

 

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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.

 

Glencoe-North Shore Market Trends: Update May-June2013

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It is official, spring has sprung! Illinois-Chicago Northern Shores home sales increased 25.3% based on previous-year real estate data compiled in April and median North Shore prices topped out at 7.7% percent, according to a recent market action report released by the Illinois Association of REALTORS®. Overall, and statewide this was the best sales volume April performance since 2007.

So far North Suburban real estate figures are reassuring, even with a decrease in the number of homes available for sale. North Shore home prices are increasing slightly due to ongoing home buyer demand, rising rents, and the alluring interest rates that boost North Shore home buyer confidence; resulting in a strong 2013 spring housing market. The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Shore- North Central region was 3.42 percent in April 2013, down from 3.54 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last year in April it averaged 3.89 percent. Listings under Contract within Chicago’s North Shore were up 36.1%. Inventory levels shrank 40.4%. Prices moved higher. The Median Sales Price increased 9.8%. Market Times were down 16.7% according to outcomes collected by The North Shore Barrington Association of Realtors and Midwest Real Estate Data. The fact remains clear; it is still an ideal time to buy, sell or both.  See the supporting image below (click to enlarge):

MarketTime-April13

Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois stated “The housing market is exhibiting signs of a more stable recovery with an anticipated strong early summer led by strong sales gains and more modest but still positive gains in median prices. Average time on the market, the growth in the pending sales index and an increase in the share of total sales captured by more expensive properties point to a return to greater stability in the market.” See supporting image (click to enlarge).

 MarketOverview-13

Fifty-five (55) of 102 Illinois counties reporting to IAR showed year-over-year home sales increases in April 2013. Forty-two (42) counties showed year-over-year median price increases including portions of Chicago North Suburban Lake, up 16.1 percent and Cook, up 11.9 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 May 7, 2013 for the period April 1 through April 30, 2013 with continued reporting in June 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.

Among Realtors in the Chicago-Northern Suburban area with the highest national sales performance, Gloria Matlin ranks high in customer service, specialized client attention, and profound area knowledge, and has for well over 25 years. She calls Glencoe’s Coldwell Banker Residential Real Estate office home, located at 640 Vernon Ave, 60022, in the downtown district.  Stop in to discuss North Shore homes for sale, Glencoe homes for sale, market condition reports, analysis, outcomes, and forecasts or upcoming annual events like famer’s markets, garage sales, even Ravinia Festival.

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

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Real Estate Outcomes April2013: Chicago’s North Shore

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AprilReport-2013Property Sales

April 2013 Chicago– North Suburban Glencoe real estate property sales were up 163.6% compiled against market action data in April of 2012 and topped 50.0% higher than sales performance last month. April 2013 sales totals were at their highest level compared to April of 2012 and 2011. April YTD sales are running 20.0% ahead of last year’s year-to-date sales production reports.

 Prices

The Median North Shore Sales Price in April was up 15.1% from totals released in April of 2012 and up 22.4% from last month. The Average Sales Price in April was up 4.1% compared to outcomes in April of 2012 and up 16.0% from last month. April 2013 ASP (average sales price) was at a mid-range compared to April of 2012 and 2011.

 

Inventory & MSI

The Total Inventory of Properties available on Chicago’s North Shore for sale as of April was equal to last month and down -34.3% from totals in April of last year. April 2013 real estate Inventory was at the lowest level compared to April of 2012 and 2011.

A comparatively lower MSI is more beneficial for North Shore sellers while a higher MSI is better for North Shore buyers. The April 2013 MSI (months’ supply of inventory) of 3.7 months was at its lowest level compared with April of 2012 and 2011 inventory rank.

 Market Time

The average Days on the Market (DOM) shows how many days the average 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 April was 50, down -16.7% from 60 days last month and down -56.1% from 114 days in April of last year. The April 2013 DOM was at its lowest level compared with April of 2012 and 2011 analysis.

Inventory / New Listings / Sales

The summary view of the market above combines monthly inventory of Chicago North Shore Properties for sale along with New Listings and Sales. The 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 April 2013 was up 8.7% compared to last month and down -7.4% from totals ranked in April of last year.

Highest performing Chicago-North Shore Realtor by rank, and within the top 1% of real estate professionals nationwide; Gloria Matlin is your source for optimal service along with an extensive experience base spanning 25+years.  She can be found in the North Suburb’s best producing real estate office-Coldwell Banker in Glencoe, Ill-640 Vernon Ave,60022. Feel free to stop in for questions on this report and other real estate market indicators, analysis, home/property values, projections, conditions, and forecasts. More information HERE and HERE

 

Real Estate Outcomes March2013: Chicago’s North Shore

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March2013-GMProperty Sales

The Market is heating up!! Chicago North Shore-Glencoe March real estate property sales were up 14.4% from market action reporting in March of 2012 and 27.4% higher than North Suburban sales last month. March 2013 sales figures were at their highest level compared to March of 2012 and 2011. March YTD sales are running 23.4% ahead of last year’s year-to-date final real estate data.

 Prices

The Median Glencoe Sales Price in March was up 2.7% from March of 2012 and up 11.8% from last month. The Average North Shore-Glencoe Sales Price in March was up 3.2% compared to March of 2012 and up 11.2% from last month. March 2013 ASP (average sales price) was at a mid-range compared to March of 2012 and 2011.

 Inventory & MSI

The Total Inventory of Glencoe-North Suburban Properties available for sale as of March was down -10.1% from sales figures calculated last month and down -42.2% from North Shore real estate totals in March of last year. March 2013 Inventory was at the lowest level compared to March of 2012 and 2011.

A comparatively lower real estate MSI is more beneficial for Chicago-North Shore sellers while a higher MSI is better for Chicago-North Shore buyers. The March 2013 MSI of 4.6 months was at its lowest level compared with March of 2012 and 2011.

 Market Time

The average Days on Market (DOM) shows how many days the average North Shore-Glencoe real estate property is on the Market before it sells. An upward trend in North Shore 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 -3.4% compared to last month and down -19.0% from 105 days in March of last year. The March 2013 DOM was at its lowest level compared with March of 2012 and 2011.

 Inventory / New Listings / Sales

The view above of the Glencoe-North Shore real estate market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph outlines the basic annual seasonality of the market as well as the relationship between these items. The number of New Chicago North Shore-Glencoe Listings in March 2013 was up 13.8% from last month and down -10.2% from data calculated from March of last year.

Gloria Matlin is a sustained real estate resource, ranking nationally within the top 2% of Realtors for over 20 years. She is among Coldwell Banker’s elite group of 2012 highest performing real estate professionals.  Chicago’s North Suburbs, also known as the North Shore, is where she calls home.  Visit Gloria HERE and HERE for additional real estate news, reports, forecasts, tips, and insight.

Real Estate Outcomes January2013: Chicago’s North Shore

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New PictureProperty Sales

Chicago’s North Shore Glencoe January Property sales were equal to volume trends generated in January of 2012 and 14.3% higher than real estate market action reporting last month.

Prices

The Median Glencoe-North Shore Sales Price average in January was down -3.4% compared to real estate reporting in January of 2012 and up 9.6% from last month. The Average Sales Price in January was down -50.6% from real estate data recorded  in January of 2012 and up 26.0% last month. January 2013 ASP (average sales price) was at the lowest level compared to January of 2012 and 2011.

Inventory & MSI

The Total Inventory of North Suburban Glencoe Properties available for sale as of January was up 1.7% from volume reported last month and down -37.1% from figures totaled in January of last year. January 2013 Inventory was at the lowest level compared to January of 2012 and 2011.

A comparatively lower MSI is more beneficial for Chicago North Shore sellers while a higher MSI is better for Chicago North Shore buyers. The January 2013 MSI of 7.6 months was at its lowest level compared with January of 2012 and 2011.

Market Time

The average Days on Market for Glencoe (DOM) shows how many days the average North Shore-Glencoe Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Glencoe Buyer’s market, a downward trend a move towards more of a Glencoe Seller’s market. The DOM for January was -21.6% from data reported last month and down -35.0% days totaled in January of last year. The January 2013 DOM was at its lowest level compared with January of 2012 and 2011.

Inventory / New Listings / Sales

‘The graph view provided above of the North Shore Chicago market combines monthly inventory of Glencoe 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 January 2013 was up 1150.0% from last month and up 13.6% from January real estate reporting provided last year.

For additional market action data, analysis, projections, recommendations, with real estate reporting focused on specific North Shore Chicago communities such as Winnetka, Wilmette, Highland Park, Kenilworth, Northbrook, Deerfield, Northfield, Lincolnshire, Buffalo Grove, Glenview, and Skokie; feel free to stop in to the highest performing residential real estate office in Glencoe-Coldwell Banker at 640 Vernon Ave., 60022-The heart of downtown center. The place Gloria Matlin, Realtor/Broker calls her professional home.

Glencoe-North Shore Market Trends: Update November-December2012

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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.

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