Are You in the Right House? Questions to Ask Yourself this Fall2018-North Shore Real Estate

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Here on Chicago’s North Shore we are seeing a steady volume of homes for the 2018 market at amazing price points, with enticing rates. The variables have created an influx of ready buyers and sellers prepared to list. So the question presents itself to both groups…Are you in the right house?

Below are five indicators that a particular home you’re viewing might be “The One” – the property on which you’ll want to place an offer or know to look for during a search:

You lose interest in seeing any other homes.  When you find “The One,” continuing the house hunt planned for months, even years, starts to seem silly, like a waste of energy for some buyers or sellers. Sometimes your intuition just calls out, and you know when you’ve found the perfect North Shore property.

Almost instantly, you feel possessive about it. Not only can the winning home bring a smile to a buyer’s face, that immediate need to start the buying process or work on the offer paperwork may be the sign. If you walk through a place and leave wondering how quickly you can get your offer in, how much you’d offer to beat someone else out, or what you can do to lock it down quickly, it might be “The One.”

You start to envision your own, furniture, decor, daily activities or remodeling choices in/to the home.  They say that the best staging helps prospective buyers envision their own idealized lives taking place in the staged home.  But whether or not a property is staged, if you find your mind’s eye Photoshopping a given property to insert your own living style and favorite wall hangings into place in the dining room, and your daily meditation process in the all-season room  –– it’s possible that the home you’re in could be “The One”.

You start to rationalize obvious flaws.  Train tracks 10 feet from the bedroom window? Next door neighbor that runs a pigeon-sitting service? Okay – an awful exaggeration. But if you find yourself viewing a home with traits that you would normally deem undesirable or as deal-killers, yet you like the place so much that you instinctively compile a mental list of reasons those traits seem minimal, you might have found “The One.”

The bathroom and kitchen are appealing.  Generally speaking, other people’s kitchens and bathrooms may hold gross-out potential.  There’s just something about what goes on in those rooms that seems exceptionally intimate and even unsanitary.  So, if you happen to find yourself falling in love with a home’s slate shower floor or swooning over the pot-filler over the stove and the built-in cookbook stand on the countertop, that’s a sign that you’re falling head over heels with a North Shore home that might just be “The One.”

We can help find the house “The One” property that will make all your North Shore real estate dreams come true.  Visit our Coldwell Banker North Shore Residential Real Estate office, located at 640 Vernon Ave in downtown Glencoe, Illinois 60022.  Let Zack and I show you why Chicago’s North Suburban area is a source to find “The One”. More info HERE  and HERE

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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.

 

Holiday Buying and Selling Benefits: North Shore Real Estate

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As with the rest of the nation, the 2015 holidays are upon us on Chicago’s North Shore. Places like Northbrook, Glo-2015ReviewDeerfield, Glencoe, Glenview, Highland Park, Kenilworth, Lincolnshire, Northfield, Riverwoods, Wilmette, Winnetka, as well as Lake Forest; will be buzzing with good cheer, places to go, things to do, holiday events and festivals all around. But, real estate still has its place in the hustle and bustle of the season. Now may be one of the best times to buy or sell a North Shore- Chicago home. The benefits, hows and whys are outlined below:

 

Tis’ the season for BUYERS during the holidays

Commonly there’s a wider selection of homes to choose from. A peak season for the real estate market, buyers will find there are many more beautiful homes to choose from during the fall and holiday season. There’s no better time to find your dream home! Utilize vacation time to act on your desire to research online or even visit Chicago North Suburban open houses.

Don’t forget year-end tax breaks. Buying property before years’ end yields some great benefits; including property taxes and mortgage interest, both deductible from gross income.

 For SELLERS, the season brings good things

Beautifully decorated homes are certainly more appealing to potential buyers. What is more beautiful and inviting than a North Shore home that’s elegantly decorated for the holidays? The warmth and spirit of the season makes many homes seem even more stunning during this special time of year. With that comes more exposure for your home. Many people enjoy hosting holiday parties for friends, family and co-workers. When you have a “for sale” sign in your yard, it will likely grab the attention of those who are visiting your neighbors or attending holiday parties, including  yours. Usually the serious buyer will shop for a home during the holidays. The fact is if someone is interested in your home during one of the busiest seasons of the year, chances are they are serious. If your home is priced appropriately, the likelihood is high for getting an offer!

Another year of good tidings, client centered happiness, and high ranking results… all examples of North Shore real estate at its best is summarized in the photo attached below. Feel free to contact Gloria Matlin for assistance buying and/or selling this holiday season. Happy Holidays!

Click the image to view:

Real Estate Outcomes June2013: Chicago’s North Shore

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JuneRealEstateReportsProperty Sales

North Shore-Chicago June Property sales were up 25.8% from market action reports as of June of 2012 and 17.5% higher than the average sales volume last month. June 2013 sales were at their highest level compared to June of 2012 and 2011. June YTD sales of 1,876 are running 27.6% ahead of last year’s year-to-date sales of 1,470 real estate totals.

Prices

The Median North Shore Sales Price in June was up 7.7% compared to June of 2012 and up 17.4% from last month. The Average Sales Price in June was up 4.7% from totals listed in June of 2012 and up 19.0% from  totals published last month. June 2013 ASP (average sales price) was at highest level compared to June of 2012 and 2011.

Inventory & MSI

The Total Inventory of Chicago North Suburban Properties available for sale as of June was down -2.1% from last month’s market action totals and down -33.5% from totals in June of last year. June 2013 Inventory was at the lowest level compared to June 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 June 2013 MSI of 2.7 months was at its lowest level compared with June of 2012 and 2011.

Market Time

The average Days On on the North Shore 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 Seller’s North Shore market. The DOM for June was 70, down -12.5% from 80 days last month and down -18.6% from 86 days in June of last year. The June 2013 DOM was at its lowest level compared with June of 2012 and 2011.

Selling Price vs Listing Price

The Selling Price vs Listing Price reveals the average amount that Chicago North Shore Sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The June 2013 Selling Price vs List Price of 96.3% was up from 95.8% last month and up from 94.0% in June of last year.

Inventory / New Listings / Sales

The image above of the North Shore market combines monthly inventory of 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 North Suburban Listings in June 2013 was 645, down -4.7% from 677 last month and up 21.9% from 529 in June of last year.

A Chicago North Shore Realtor, Gloria Matlin remains a top performer, ranking high nationally for her ongoing personable and tenacious real estate approach. She produces consummate results centered around the needs and wishes of her clients, and has for over 25 years. Look to her for real estate updates, reports, data, insight, market conditions, action reporting, trends, and even local north shore events or places to go. She is located in the North Shore’s top selling real estate office-Coldwell Banker residential real estate, 640 Vernon Ave, Glencoe, Illinois-60022.

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 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.

Glencoe-North Shore Market Trends: Update March-April2013

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Great News! Home sales statewide, including Chicago North Shore have posted monthly year-over-year volume gains since July 2011; per information recently released by the Illinois Association of REALTORS®.

So far North Shore sales volume has been encouraging. The first two months in a year are traditionally slower in terms of real estate progress, but this year to date the market is off to a robust start. North Shore Market appeal is strongly supported by ongoing attractive mortgage rates and ideal turn-around time-frames for sellers; a win-win combination for all involved in the Chicago North Shore real estate transaction process. The future looks bright for April 2013 North Shore home sale projections.

Station-NorthShore

The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Shore-North Central region was 3.49 percent in February 2013, up from 3.40 percent during the previous month, according to the Federal Home Loan Mortgage Corp. Last February it averaged 3.91 percent. In the nine-county Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single-family and condominiums) in February 2013 totaled 5,935 homes sold, up 20.2 percent from February 2012 sales of 4,936 homes.

Forty-seven (47) of 102 Illinois counties reporting to IAR including the North Suburban area showed year-over-year home sales increases in February 2013. Lake, up 7.4 percent Cook, up 4.7 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 March 7, 2013 for the period Feb. 1 through Feb. 28, 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.

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

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