4 Reasons to Buy or Sell This 2019 Spring-North Shore Real Estate

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It is no surprise that a fresh start during the 2019 spring season for some means to put Chicago-North Shore property on the market and/or start looking for a new place to call home.

Below are the top 4 reasons plus 1 tip on why spring can be an ideal time to get moving on selling, buying or both on the North Shore of Chicago:

1. A house on the market at the beginning of spring sets you up for a perfect timeline to move over the summer! The weather is most likely to cooperate with you during this time. A summer move is also ideal for those who have families…often better not to disrupt the children during the school year – especially if you’re relocating and changing school districts; this will allow a have a fresh start at the beginning of a brand new school year.

2. Uptick in traffic at open houses means increased probability of a sale. With milder weather, people are often more motivated to venture outside.

3. Houses look more appealing in the sunlight with nice curb enhanced greenery and/or flowers out front. Curb appeal is important year round. The spring shines a light on a home’s appearance literally and figuratively. It’s a little easier to make repairs to a home when the weather is mild. Spring is the time to finally stop putting off the little projects that have been building up through the winter. Fix that broken step banister put a fresh coat of paint on that chipped garage door, it can make the difference and have bearing on a buyer the moment they cross the threshold.

4. Take the fix-up projects a step further….There is certainly no better time to de-clutter than with the windows open for the first time after winter…can you say spring cleaning! Deciding to sell might be that extra push you need to finally get rid of those old clothes or an overabundance of toys. More tips and guides HERE and HERE

IMPORTANT TIP:

This 2019 spring season, look to knowledgeable and experienced Chicago North Shore real estate professionals. As a North Shore resident, Gloria Matlin has kept an accolade producing pulse on the North Shore real estate market for well over 2 decades. She and partner Zack Matlin intimately know the North Shore communities.  With over 25 years of elite, client-focused, top producing experience, Gloria and her team sincerely want to make real estate dreams a reality for Spring 2019. For additional information and optimal attention/service, stop into their high-ranking Coldwell Banker Residential Real Estate office, located at 640 Vernon Avenue in the downtown district of Glencoe, Illinois, 60022.

Top Ideas for Spring Break 2014: North Shore-Chicago Real Estate

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With warmer weather and vacation time close at hand the specific focus on North Shore real estate shifts slightly to subjects like places to go, places to stay, traveling abroad, and things to do for spring break 2014! Some will start looking at destination clubs or FirstDayOfSpringspecific places to visit; others will embrace a “staycation” concept and explore all that Chicago’s North Shore has to offer. Provided below are options to satisfy everyone this year:

Staycation-North Shore/Chicago, Illinois Style!

North Shore Events/Restaurants

Top Things to do Around Illinois/Chicago

One day deals

 

Top Destination Clubs & Travel!

Recommended club locations

Travel for students

Travel for families

Our Chicago North Shore Coldwell Banker office located in downtown Glencoe, Illinois-60022, can provide help with local vacation homes for rent, homes for sale, local North Shore directions, maps, events happening for spring break, places to visit, or simply just to recommend places to dine around the North Shore communities.  Our 46+ years of optimal neighborhood service can be put to use to help plan and sustain a wonderful spring break for 2014.  We look forward to assisting/seeing you. Have a fun and fantastic Spring Break. Enjoy!

Glencoe-North Shore Market Trends: Update February-March2014

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It was cold, but things are still warming up…Chicago North Shore real estate inventory levels in January dipped 7.5 percent compared to last year, but median home prices climbed 9.6 percent over previous-year levels, according to recent market action reporting from the Illinois Association of REALTORS®.

The severe Midwestern temperatures affected seasonal trends in January. In spite of old man winter, and a slight dip in buyer traffic, prices remained competitive, with robust indications that Chicago North Shore real estate will continue to show strength as we enter into the spring season. As an example, North Shore Listings under Contract were up 2.8 percent to 506. Inventory levels shrank 24.7 percent to 2,184 units. Prices marched higher. The Median Sales Price increased 28.6%. Market Times were down 34.7 percent to 107 days. This is the time to reassess real estate situations.  Getting a fresh comparative market analysis might be ideal at this point in time. Interest rates remain appealing and should remain at lower levels but are expected to creep higher in 2014. Information provided and supported by the North Shore Barrington Association of Realtors and Midwest Real Estate Data, LLC. See the supporting image below (click to enlarge):

January-MarketStatus-2014

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore region was 4.46 percent in January 2014, down from 4.48 percent in December, according to the Federal Home Loan Mortgage Corp. In January 2013 it averaged 3.40 percent.

Thirty (30) of 102 counties in Illinois showed annual home sales increases in the month of January 2014. Forty-three (43) counties showed year-over-year median price increases including Northern Shore Cook, up 19.4 percent. Chicago North Shore investor opportunities and first-time homebuyers are still finding attractive deals in a market that we might not see again for many years.

Sales and price information is generated by Multiple Listing Service closed sales reported by 30 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of Feb. 7, 2014 for the period Jan. 1 through Jan. 31, 2014 and will continue into March of 2014.. 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.

Think Spring!  Now may be one of the best times in history to buy, sell and/or invest in real estate on Chicago’s North Shore. Having an experienced, top producing, top performing high ranking, real estate professional as your resource is paramount to finding the right North Shore fit.  Are you relocating to the North Shore of Chicago this spring season?  Gloria Matlin has been a relocation expert for well over 30 years. Her insight and accurate pulse on the market will make it easier to focus on where you’re going not where you’ve been. Gloria Matlin’s home office is located at 640 Vernon Avenue, in the heart of the historic downtown village district of Glencoe, Illinois 60022.

The Importance of Seasonal Curb Appeal-North Shore Real Estate

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Spring starts off with a bang on Chicago’s North Shore!  Home prices are on the rise and inventory levels are decreasing. This may be one of the best times in history to sell,  invest or go on vacation for spring break…you decide the order. To help get your home in tip-top shape, below are 4 easy ways to make your home stand out from the rest. Your property should get noticed for all the right reasons the moment someone passes in front of or past the threshold:

1. Focus on your front door: Updating your door’s handle and deadbolt set with a modern-looking option is a great visual upgrade, and it can be a practical improvement, too. While you’re at it, see if your doorbell, light fixtures and the door’s kick plate could be replaced. And be sure to glance up to check for cobwebs on the front porch.

2. Be the visitor: Stand at the end of the driveway and try to view the home as a buyer or visitor would. Are there oils stains in the driveway? Is there mold on the mailbox? Grime on the front door? Thoroughly clean your home’s exterior. Clean your siding, foundation, patio, walkways, driveways, stairs, decks and porch. Take a bucket and scrub brush to your front door, mailbox and any other areas that need gentler cleaning.

3. Don’t forget your fence: A homeowner may get used to looking at the back fence and not notice discoloration from water and sun. Give it a glance and plan for an update in paint or materials if needed.

4. Use plants, pots, or wreaths in cool colors, and keep them low-maintenance: People will react in a visceral, emotional way to hot colors, such as reds and yellows, it’s best to stick with a cool palette. Use blues, purples, light pinks and whites. Those colors will also make the home look cooler in warmer weather.

More information HERE

Top 5 Contract Negotiation Tips-North Shore Real Estate

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Spring on the North Shore seems to make it all the more profound, buying your first home is an exciting event, even for a seasoned North Shore buyer, it can be a challenging process. Some of the details can be intimidating for a first time real estate purchaser or experienced buyers may have forgotten a few key points. No need to panic, with a little preparation you’ll feel like an expert and you’ll be ready for anything!

The natural focal point of a real estate purchase contract is the selling price of the home, but the price isn’t the only factor that determines the net bottom line for both the buyer and the seller, especially in our current real estate market. Is a bargain for the buyer really a bargain if he or she is paying all the transaction costs? Is a top price for the seller really a top price if the buyer wants all the furniture to be included in the purchase price? Or what if the buyer can’t come up with the down payment or qualify for a mortgage?

Best Tip: Ask your experienced North Shore-Glencoe real estate agent to go over the standard contract with you before you receive or make a purchase offer. That way, you’ll know what to expect and be prepared to negotiate the best deal.

Before you decide to move forward, here are five other bottom-line points to consider:

1. What are the estimated transaction costs and who will pay for what? Typical costs include the brokers’ commission, a home inspection, a termite inspection, escrow or attorney’s fees, a title search, an owner’s title insurance policy, transfer taxes and recording fees. The price tags on these items can vary around the North Shore area. Who pays for what is a matter of both local custom and negotiation.

2. How much money is the buyer putting into escrow and when? A big deposit — called “earnest money” — and a substantial down payment are generally seen as a sign that the buyer is dead serious about completing the transaction. From the seller’s point of view, the more money the buyer places in escrow and the sooner the money is transferred, the better.

3. Is there a mortgage contingency and how specific is it? The mortgage escape clause is a must for buyers, unless they’re paying all cash for the home. Without this contingency, buyers could be legally obligated to purchase the home even if they can’t obtain financing. Further, an open-ended statement that says the buyer will obtain a loan “at the prevailing rate of interest” leaves the buyer completely exposed to interest rate fluctuations. A statement that says the loan must be at an interest rate “not to exceed xx percent” and on specified terms is ideal.

4. Exactly what furniture, fixtures and appliances, if any, are being sold with the property? Technically, anything that’s permanently affixed to or installed in the North Shore home is real property. Everything else is the seller’s personal property. This distinction is a narrow one and it naturally leads to a fair amount of confusion. Are built-in appliances real property or personal property? What about a shelving system? A chandelier? Window coverings? Potted plants in the yard? Sellers who intend to remove anything that’s attached to the home should have that specifically noted  in the contract. And the same goes for buyers who expect to acquire any of the furniture or other movables.

5. What happens if either side breaches the contract? Unless an unmet contingency triggers the abandonment of the contract, it’s a binding legal document. Buyers who fail to perform can lose their deposit or earnest money. Sellers who try to back out could be sued for “specific performance,” which forces the sale of the home to the buyer.

Our top performing Chicago’s north shore realtors provide legendary service and experience. Feel free to stop in our Coldwell Banker Office located at 640 Vernon Ave, Glencoe 60022. Our Glencoe realtor office has been providing outstanding real estate  knowledge for over 45 years. We look forward to assisting you.

Home Renovations That May Reduce Value: North Shore Real Estate

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North Shore Spring break, vacations, and time off……optimal times for North Shore real estate renovations.  But beware, not every renovation promotes a return on investment. That old adage for North Shore  home renovations, furnishings and additions — is all well and good while you sleep under its roof, but if you plan to sell, your efforts could decrease rather than boost selling potential. The detail below will outline what may or may not be in your best interest for North Shore home renovations:

Headaches to look out for

A bright pink paint job and lawn cluttered with gnomes and flamingos is going to offer little in the way of optimal curb appeal. That koi pond you love so much may be just a headache for a new North Shore home owner.

Swimming pools can be a bonus in the minds of some North Shore home buyers, but for others, a pool can be a negative.

“Swimming pools and landscaping can both backfire,” says Brendon DeSimone, a Realtor® in California and New York and blog contributor for online real estate database Zillow who has been featured on the HGTV television shows “Curb Appeal,” “Bang for Your Buck” and “My House is Worth What?

“They are nice to have because they show really well and will lure buyers in,” he explains. “But when buyers are assessing pros and cons of the home or comparing it to other homes, the upkeep — or safety, in the case of the pool — will factor in. Some people just may not want to sign up for having to do landscaping or pay the landscaper. So while a swimming pool or beautiful manicured lawn might reel in potential buyers, eventually those things could turn them off. Gardening and over-the-top landscaping is for a very specific buyer.”

There are always exceptions to be had if the right buyer comes along. A pool in warm-weather Arizona or Southern California is certainly more attractive than one at a home on Chicago’s North Shore where it gets only a fraction of the annual use.

Jacuzzis and whirlpools are other luxuries that can be a hit or a miss for sellers. A young couple may love the additions; a family with small children may see them as a waste of space and potential safety hazard.

Be careful when changing or updating rooms

Renovating your basement, attic or garage into an additional room? That man cave or spare bedroom may fit your lifestyle, but Chicago’s North Shore buyers may lament the lack of storage space and place to park their car. A basement or dormer apartment may run contrary to local zoning and be a red flag during a home inspection. Converting a bedroom into an office may appeal to a work-at-home buyer, but eliminating that bedroom in the eyes of local assessors will decrease your home’s value.

External additions can be problematic if your bigger and better house is out of character with the surrounding neighborhood in size and North Shore style. It can be even worse if your do-it-yourself project lacks professional polish. Even more modest improvements — such as doors, windows or awnings — can hurt if they don’t match your home’s architectural style.

The National Association of Realtors and Remodeling magazine surveys remodeling and exterior replacement projects as part of its annual Remodeling Cost vs. Value report.
Overall, the 2011-12 report estimates that homeowners would recoup an average of 57.7 percent of their investment in 35 different improvement projects, down from an average of 60 percent last year.

Returns for decking and additions can vary depending on which region of the country where the home is located. SOURCE: formanconstruction.com

Guess which has more BANG for your buck?

According to the report, seven of the top 10 most cost-effective projects — nationally, in terms of value recouped — are exterior replacement projects. It deemed fiber-cement siding replacement as the project expected to return the most value, with an estimated 78 percent of costs recouped upon resale.

  • Vinyl siding projects were expected to return more than 69 percent of costs.
  • Steel entry door replacement was the least expensive project in the report, costing little more than $1,200 on average, and was expected to recoup 73 percent of costs.
  • Garage door replacements have seen prices fall more than 15 percent nationally and can be expected to return more than 71 percent of the cost.
  • A “midrange attic bedroom” is expected to return 72.5 percent of costs upon resale, in part because it is “the least expensive way to add a bedroom and bathroom within a home’s existing footprint.”
  • A minor kitchen remodel (budgeted at roughly $20,000) is expected to recoup 72.1 percent of costs.
  • A wood deck addition is expected to make back 70.1 percent of its price tag.
  • Among the least cost-returning projects are a sunroom addition and home office remodeling, both estimated to recoup less than 46 percent of what they cost. More info HERE

Feel free to stop by the North Shore’s top producing real estate office for guidance on homes for sale, homes for rent, housing statistics or reports. We can be found in downtown Glencoe, Illinois 60022. Coldwell Banker residential brokerage and mortgage services. The best in North Shore realtors.