Real Estate Resolutions in 2017-Chicago North Shore Real Estate

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When it comes to real estate, 2017 New Year’s resolutions may not immediately come to mind. But for prospective Chicago North Shore real estate sellers and/or buyers, this is the time as well as the year to generate ideas to put them on track for a change. Many times these ideas surface as a result of an oversight or misjudgment about the real estate market over the past 12 months.  The time to act is certainly NOW! Below are the top 4, 2017 resolutions to get you North Shore real estate market ready and prepared:

New Year’s Resolutions

 

Sellers: Resolve to Think of Your Home as a Commodity

Start clearing out old stuff now. If there are things deep in your closets that you don’t think you’ll use between January and the time you move, consider a storage locker or making space in the garage. Does your real estate agent suggest that the basement needs a paint job? Get some painting bids now. Have you always hated how the bathroom vanity takes up so much space? Consider changing it now so buyers will perceive your bathroom as bigger. This will also help you spread out the costs of home repairs and changes over several months.

Buyers: Resolve to Get Your Financial House in Order

Planning a home purchase takes time and effort, so you should consider meeting with a mortgage professional early in the year. Know your credit score and understand what your financial situation looks like from a lender’s perspective. If you have credit issues, identify what they are and the necessary steps to correct them. An experienced North Shore real estate agent can recommend local mortgage professional. Local is always important, because many real estate deals are made on relationships, and being able to meet face-to-face with your mortgage professional can be a big plus.

Sellers: Resolve to Understand Your Timing and Exit Strategy

One of the biggest stresses on a seller is trying to plan a purchase and a sale at the same time. Can you afford to close on the new home before selling? If so, for how long? Do you need to sell the property first? If so, will the potential sale price support a home purchase in the neighborhood you want to be in? If not, what other areas should you be looking in? Selling and buying at the same time brings up all kinds of questions. A seasoned North Shore Realtor should be able to guide you through these and other related matters with ease.

Are you relocating to the North Shore Area of Chicago? Uprooting yourself from your home is not easy. What if you have to go into short-term housing? How will you get that set up and how long would you need to commit for? If you can afford to purchase and then sell, do they need to happen quickly? Are there things you can be doing in your current home so that once your new home closes, you’ll be ready to list? It’s a lot to think about and plan for, and it helps to have a strategy in place well before you have to take action and use your North Shore real estate professional as a guide.

Buyers: Resolve to Start Feeling Out the North Shore Market Early

You may think you only need to go to open houses once you’re ready to buy. But in reality, a buyer needs a couple of months learning the market, understanding home values, the prices per neighborhood and the areas in general. Going to open houses in the neighborhoods where you want to buy will allow you to start feeling out the market.

Once you engage a North Shore agent, you may make several offers before you get into your dream home. Having your North Shore agent along for the ride will allow you to compare and contrast homes you’ve visited to the home you eventually buy. The homes you see and your experience feeling out the market will serve as the building blocks toward becoming an informed buyer and making your best offer.

Gloria Matlin….Committed to optimal, top performing, client focused real estate service, Gloria Matlin will strive to maintain her consummate dedication to North Shore real estate in 2017. Nationally and locally recognized as a high ranking, top performing luxury real estate resource, she is a trusted professional with over 30+ years of North Shore Realtor insight and experience. Look to her for help with relocation, downsizing, upsizing, buying, selling, investing, renting or to obtain additional detail on real estate data, reports, outcomes and/or history within the Chicago North Shore areas of Glencoe, Winnetka, Wilmette, Glenview, Deerfield, Northbrook, Lincolnshire, Lake Forest, and Highland Park. More information HERE and HERE on this dynamic real estate professional.

Seasons Change Means 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 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

2015, September: With more than 25 years of top producing, high ranking, client focused performance, Gloria Matlin remains the consummate real estate professional 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 introduction HERE

Sneak Peek-Upcoming North Shore-Chicago Real Estate Listing

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For information on this upcoming listing, Contact Gloria Matlin

For information on this upcoming listing, Contact Gloria Matlin

With top-selling, top performing sales volume results for over 25 years, Gloria Matlin has been a Chicago North Shore, Illinois real estate expert representing Coldwell Banker’s top ranking Glencoe office. She proudly serves North Suburban Winnetka, Wilmette, Highland Park, Kenilworth, Northbrook, Deerfield, Northfield, Lincolnshire, Buffalo Grove, Glenview, Skokie and of course Glencoecommunities. As a seasoned North Shore Realtor, she is a trusted resource, and maintains national top 2% performance success with grace and tenacity. As a member of the International Presidents Elite “Coldwell Banker Presidents Club” she strives for excellence. She is known as North Shore’s consummate real estate professional.

 

Glencoe-North Shore Market Trends: Update August-September2014

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SurgeThe real estate surge continues on Chicago’s North Shore…. Illinois home prices rose again in July leading into August and September of 2014, marking nearly two years of annual gains; according to recent market action reporting from the Illinois Association of REALTORS®.

The statewide median price in July was up 7.2 percent from July 2013. On the North Shore of Chicago, buyers appear to be taking advantage of enticing market trends. The steady flow of real estate purchase appeal appears to be forcing prices higher, a market development seen through much of this year. Activity is picking up in the upper price tiers. Rents continue to climb in most metros. And interest rates are generally lower than a year ago. Prices forged onward. The Median Sales Price increased 1.5 percent to Market Times were down 27.8 percent to 81 days. The average time it takes to sell a home continues to decline. In July, it took 65 days on average to sell a home in the state, down 9.7 percent from 72 days last year. The average time to sell a home in the Chicago and Northern Shores area hovered around 50 days in July, and 43 days in the city of Chicago.

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore region was 4.11 percent in July 2014, down from 4.17 percent in June, according to the Federal Home Loan Mortgage Corp. In July 2013 it averaged 4.35 percent.

An additional note as fall approaches.. Inventory remains relatively low. Now is an ideal time for sellers to re-evaluate their own long-term real estate plans and consider preparing their home for a fall sale. Interest rates remain historically low, and buyers are still enthusiastically pursing properties in several North Shore-Chicago markets.

Thirty-three (33) of 102 counties in Illinois showed annual home sales increases in July 2014. Fifty-six (56) counties showed year-over-year median price increases including North Shore Cook, up 7.7 percent.

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 Aug. 7, 2014 for the period July 1 through July 31, 2014 and into August as well as September. 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.

Optimal North Shore customer service, integrity, high-ranking market knowledge, communication and negotiation skills, closing preparation, helping individuals find the right home, marketing the home being sold, and overall satisfaction, all the areas Gloria Matlin strives in, and has continued to do for over 25 years. Let this seasoned real estate professional assist you this fall with buying, selling, relocation assistance, investing, or simply to inquire and find out more information. She is located at Coldwell Banker’s premier, top performing residential real estate office – 640 Vernon Avenue, Glencoe, Illinois, 60022.

Top North Shore Realtors Discuss Luxury Real Estate Markets-Chicago’s North Shore

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1750 Braeside-NorthBrook

One of Gloria Matlin’s current luxury North Shore listings – 1750 Braeside Lane in Northbrook, Illinois (click for details)

It’s not surprising that the latest S&P/Case-Shiller numbers show that single-family home prices in the Chicago metropolitan area jumped more than 11 percent last October, posting their best year-over-year rise since December 1988. After all, “bidding war” has been the byword for prime properties in the city for months—a trend that’s growing….But neither trend applies to the North Shore, insist big-ticket broker Gloria Matlin of Coldwell Banker. For the first time in years, supply and demand are dictating the luxury market trends on Chicago’s North Shore. Here’s why:

So prices aren’t up on the North Shore, even for luxury properties?

GLORIA MATLIN: What people want goes so fast that these homes usually sell for top dollar before they hit the listing services. Brokers get their buyers in there before you can even think bidding war, and they pay what it takes.                                          PC: Everyone has different priorities, but there are two new universals: Everyone wants the New Trier school district and new construction with new everything inside and out. That’s the problem: Nothing new has been built in the last few years. Developers are just gearing up again. As soon as they put up a building sign, someone sees it and buys the house straight from the plans for, say, $1.6 million before it comes to market. But that’s not luxury. Those are starter homes.

Where does that leave luxury prices?

GM: Much higher than in the city. Nice starter homes go for $1.6 million to $2.4 million, but true luxury starts at $2.5 million. Don’t get us wrong: You can get a really nice house for under a million, but it’s dated.
PC: It’s cheaper to buy resale and renovate, and more expensive to buy new, but buyers can get mortgages more easily than home equity loans for renovations. People used to be willing to buy a gorgeous old house for $2 million and put another million in, but now they don’t have the time and can’t get the money. So that makes a beautiful, clean, 3,500-square-foot house more valuable.

What about locations? Is it still better to be near the water?

GM: It depends on what you want. Working couples may want to be close to the train; families might want to be in a certain lower school district. If you have three kids, it’s nice to be in Kenilworth because it’s the same school for K to 8.                                      PC: The most important thing is to work with someone who can help you figure out what you really need and get you there. Gloria Matlin, Coldwell Banker, 640 Vernon Ave., Glencoe, 847-835-6058. See the complete Michigan Avenue Magazine article HERE

A Chicago North Shore real estate expert with a compelling record of top producing, top performing, and high ranking client focused results; Gloria Matlin has been a consistent resource for over 25 years.  This top tier Realtor finds pride in helping each and every one of her clients with one of the most important processes in a lifetime.  Let her be your guide to making  a North Shore- Chicago real estate dream a reality! See the complete profile of her North Shore-Chicago real estate listings HERE and HERE.

Glencoe-North Shore Market Trends: Update December-January2014

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The year-end figures continue to trend on a high note…. The IllinoisChicago North Shore housing market saw November median prices rise 7.4% over previous-year levels, according to a recent report by the Illinois Association of REALTORS®.

Statewide home sales (including single-family homes and condominiums) in November 2013 totaled 10,624 homes sold, down from 10,820 in November 2012. Housing inventory Statewide as well as on the North Shore of Chicago in November was down 19.7 percent compared to a year earlier, dropping from 77,109 homes for sale in November 2012 to 61,882 this year.

Classically the notion of supply and demand shows dominance around this time of year. The decrease in the number of homes available on the market may force North Shore consumers who clearly show they want to buy, to pay a higher price point. Note that interest in North Shore real estate purchase remains strong, with attractive rates and the prospect of long-term investing. Listings in the North Shore-Barrington region decreased 3.5 percent to 558. Listings Under Contract were up 14.6 percent to 519. Inventory levels shrank 23.7 percent to 2,531 units. Prices got a lift. The Median Sales Price increased 19.9 percent. Market Times were down 32.6 percent to 97 days. Information provided and/or supported by the North Shore-Barrington Association of Realtors and Midwest Real Estate Data, LLC. See the supplemental image below (click to enlarge):

NorthShore MarketSummary-Nov2013

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore Chicago region was 4.27 percent in November 2013, up from 4.20 percent in October, according to the Federal Home Loan Mortgage Corp. In November 2012 it averaged 3.33 percent.

Thirty-six (36) of 102 Illinois, Chicago North Shore counties showed annual home sales increases in November 2013. Thirty-nine (39) counties showed year-over-year median price increases including Cook, up 13 percent.

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 Dec. 7, 2013 for the period Nov. 1 through Nov. 30, 2013, and will continue through January 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. (NOTE: The Decatur Association of REALTORS® data is not included in the November report due to a Multiple Listing Service change.)

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

Wishing you a prosperous, happy, healthy, joyful 2014 new year, filled with top producing, high ranking results, optimal performance, and an abundance of  Chicago North Shore luxury real estate options, throughout the year.

 

 

 

Happy Holidays, Happy New Year-North Shore Chicago

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From our family to yours….

Seasons Greetings-Matlin-2013

COLDWELL BANKER RESIDENTIAL REAL ESTATE

640 Vernon Ave

GLENCOE, ILLINOIS

(847)835-6058

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 Stay in Touch for 2014!

 

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