2019 Market Outlook-Chicago North Shore Real Estate

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2019 First-time buyers who stayed out of the market – either for demographic reasons or because they just couldn’t find the right Chicago North Shore home – will find less competition as more buyers are priced out, but feel an increased sense of urgency to close before it gets even more expensive. Their largest struggle next year will be reconciling wants, needs, and budget versus the heavy competition of 2018. Although the number of homes for sale is increasing, which is an improvement for buyers, the majority of new inventory is focused in the mid-to-higher-end price tier, not entry-level. Rising mortgage rates and prices will keep a lot of new inventory out of their budget and make it especially tough for first time home buyers.

2019 predictions are based on housing data that shows rents continuing to skyrocket while the for-sale market levels off. That economic reality increased inventory, and millennials getting married and having children after delaying those choices, are forecasted to give North Shore buyers and sellers more negotiating power. In fact, a recent study predicts the millennial generation will overtake Generation X as the biggest group of Chicago-North Shore home buyers in 2019.

In light of these trends, Realtor.com took a look at income data, home-value growth and the number of entry-level homes-for-sale to rank the best markets for first-time home buyers in 2019. More information HERE.

Start 2019 off with trusted, top producing North Shore Chicago real estate guidance from Gloria and/or Zack Matlin. With over 25 years of steadfast expertise, Gloria Matlin has been helping her clients realize their real estate dreams with enthusiastic, sincere, confident, graceful, tenacious, attentive and personalized top-tier service.

 

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Top 5 Winter Renovations That Pay Off Big-North Shore Real Estate Trends

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There is always something that can be improved upon. Now in 2018…When you spend a little time in your Chicago North Shore home on vacation or on the weekends, you are bound to find a improvement project or two that can keep you busy. And that’s usually what happens during the winter especially right at the start of a new year, people want their houses to look their best, and any indoor project that doesn’t require windows to be open or walls to be taken down are good ones to think about. More importantly it’s vital to think of the projects that are not only aesthetically pleasing, but will also get a big bang for your North Shore real estate investment buck in the long-term.

While doors and floors fit that category, be warned that any door that’s hung in the winter might be a bit of a tight fit in the summer, when humidity can expand the wood. So, be cautious of starting wood projects.

There are plenty of other home improvement projects that can keep you busy during the winter months. Here are the top 5 suggestions for high REO (return on investment) this season:

1. Install a programmable thermostat: It’s always a bit of a shock when you get that first utility bill in the colder months. If you haven’t already taken steps to save energy, an easy project, is installing a thermostat that allows you to automatically set the temperature for different times of the day. By having the heat programmed to go on when you get up in the morning, then off when you leave for the day, then back on when you arrive home, you can keep the temperature of your home constant. This type of project is an easy do-it-yourself project. It’s just a couple of low-voltage wires, so it’s really something anyone can handle, and some of them cost as low as $25. It can pay for itself in a month or two.

2. Insulate your water heater: Another way to save energy is to lower the temperature of your water heater, and insulate it. The ideal temperature is 120 degrees. It doesn’t cost you anything to turn it down, and by wrapping it in insulation, you can ensure that the water stays hot when it is not being used. You can buy insulation kits at your local North Shore-Glencoe hardware store.

3. Paint a room: This is the greatest winter project, it’s a great cure for the midwinter blues. And a $50 investment in paint can dramatically transform a room. When you are spending more time inside, you have more time to look at what needs to be refreshed. This is a quick, do-it-yourself project and a small investment can make a big difference.

4. Refinish the basement: Need a contractor for a project? Find one in the winter, contractors are slower in the winter, and one project that’s especially popular is refinishing the basement — you can often find someone to take this on. Of course, the ever-popular bathroom and kitchen remodels, are seasonless, and sometimes endless, can also be started in winter (as long as a wall doesn’t need to be knocked out).

5. Get organized: So many people resolve to get organized at the New Year and winter is a great time to actually take action on that resolution. There are so many great modular closet-organizing systems, a project like this is a great antidote to North Shore cabin fever. You can clear up the clutter in a room or a closet, and make it look like you have twice the space you did to begin with; a sure-fire way to attract potential buyers, a total sellers edge…MORE IDEAS

With sustained top producing, high ranking, client focused results, Gloria Matlin looks forward to making 2018 even better! Over 25 years of devoted service, and now partnering with son Zack Matlin, this team is sure to make Chicago North Shore real estate dreams come true once again.

 

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.

 

Spring into a Grand Estate, Custom Home or English Manor – North Shore Real Estate

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Spring is a great time to sell and buy a home…buyers often can move in better weather, have months to fix up the house before the cold sets in, and can start kids off with a preview of a new school as well as get them settled before the next school year begins.

Keep in mind, those advantages also mean that spring can be a competitive time to house-hunt. It’s important to be prepared: Know what you want, how much you can spend, and be ready to move quickly when you find the home you want. Below are a few samples of breathtaking property recently listed for sale on Chicago’s sought after North Shore:

143 CaryAve-CoListedwithBarbaraTarr

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Below is an Outstanding New Custom Residence-Premier Location Across From Village Green Park, Beach, Shops and Transportation. Exquisite Finishes Throughout With A Versatile Floor Plan:

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Below is an Exquisite English manor. Elegant in design and craftsmanship throughout. Carefully chosen amenities bring the “old world” charm to a new level of luxury:

74 Tudor Place-JustListed

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For a detailed list of properties currently for sale click HERE. For more information on buying and selling in the spring season click HERE.

Look to Gloria Matlin and fellow team member Zack Matlin for all things real estate on Chicago’s North Shore. Gloria has been a top producing, high performing, client focused resource for over 25+ years. Make this spring “Glo” with award winning service and attention.

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.

 

What does Home mean to you?

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A repetitive phrase you may hear realtors say, but NOW is the perfect time to buy or sell Chicago-North Shore Real Estate. What a house/home means to you may equal a copious list definitions. Are you looking to relocate to the North Shore Chicago? Maybe thinking of moving up or even downsizing to a luxury condominium? Do you need more information on North Shore communities like Winnetka, Glencoe, Wilmette, Northbrook, Deerfield, Glenview, Highland Park, Lake Forest, or Lincolnshire? With over 30 years of experience, Gloria Matlin is here to make your Chicago North Shore dreams and needed circumstances a reality. Find her at the top performing, award winning Coldwell Banker Residential real estate office of downtown Glencoe, Illinois, 60022.

Kim Park

I love this new ad from Coldwell Banker! The dog jumping out of the car, kicking off your shoes at the front door, and sinking comfortably into your couch. All of the great things about owning your own home and making it a comfortable place for you and your family. Even your dog.

A little Motley Crue for the nostaligia doesn’t hurt either! #HomeRocks!


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Real Estate Outcomes December2013: Chicago’s North Shore

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Dec2013Property Sales

Great beginning of the 2014 year news! Chicago North Shore December Property sales equal the same total sales volume results as listed in December of 2012 and 14.2% higher than sales market action reporting last month. December 2013 sales were at a mid-level compared to December of 2012 and 2011. December YTD sales of are running 21.7% ahead of last year’s year-to-date sales volume totals.

Prices

The Median North Shore Sales Price in December was up 32.0% in December of 2012 and down -0.7% from sales volume reported last month. The Average Sales Price in December was up 7.6% from final totals in December of 2012 and down -4.2% compared to market reporting last month. December 2013 ASP was at highest level compared to December of 2012 and 2011.

Inventory & MSI

The Total Chicago North Shore Inventory of Properties available for sale as of December was down -19.1% from last month and down -32.4% from totals calculated in December of last year. December 2013 Inventory was at the lowest level compared to December of 2012 and 2011. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2013 MSI of 3.2 months was at its lowest level compared with December of 2012 and  2011.

Market Time

The average Northern 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 North Shore Buyer’s market, a downward trend a move towards more of a North Shore Seller’s market. The DOM for December was 55, down -11.3% from 62 days last month and down -45.5% from 101 days in December of last year. The December 2013 DOM was at its lowest level compared with December of 2012 and 2011.

Selling Price vs Listing Price

The Chicago North Shore Selling Price vs Listing Price reveals the average amount that North Shore Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a North Shore Buyer’s market exists, a ratio at or above 100% indicates more of a  North Shore Seller’s market. The December 2013 Selling Price vs List Price of 95.7% was down from 96.0% last month and up from 93.3% in December of last year.

Inventory / New Listings / Sales

The view highlighted above of the North Shore real estate market combines monthly inventory of North Shore 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 December 2013 was 194, down -27.9% from last month and up 7.2% from total market action reports in December of last year.

With a new year brings the hope of prosperity, good health, and continued results. Gloria Matlin predicts a year filled with top performing, client centered, high ranking, and sincerely focused North Shore real estate outcomes. With over 30 years of trusted experience, she is a faithful Chicago North Shore buyer/seller advocate and accomplished, nationally recognized real estate professional.  Look to her for questions on this year’s proposed real estate expectations for 2014. Gloria calls Coldwell Banker’s Residential Real Estate office in Glencoe, Illinois, her business home-640 Vernon Avenue, 60022.

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