New Listing-4525 Lindenwood Ln., #Northb

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Glencoe-North Shore Market Trends: Update May-June2012

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More glowing North Shore Real Estate news! As we spring into 2012 summer with a 15.7% surge…home sales volume reports display top numbers not seen in two years! In addition, statewide median prices show steady performance for the second straight month, per April-2012 housing data released by the Illinois Association of REALTORS®

Spring is traditionally a strong North Shore selling season, and this year proves no different with even greater outcomes. The low home prices and interest rates that are nearly a full percentage point below April 2011 levels are producing clear signals to buyers that they need to get off the fence.

“The fact that median prices remain steady and sales continue to outpace previous-year levels is a positive sign for the housing market,” stated Loretta Alonzo, CRB, GRI, president of the Illinois Association of REALTORS® he added that “despite the month-to-month increases in median prices, it’s clear that there still are very attractive deals out there.”

Bob Floss, president of the Chicago Association of REALTORS® stated “In the city of Chicago, a more than 19 percent increase in condo sales through April 2012 over the same time period last year is positive. With rents increasing in the city of Chicago and surrounding areas including the North Shore coupled with a limited supply of rentals available, renters are reviewing their options. Bob Floss added “historically low interest rates and great opportunities in the market are compelling to both first-time and move-up buyers looking to spend their dollars wisely and own their own home.”

An added bonus, the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 3.89 percent in April 2012, down from 3.99 percent during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in April it averaged 4.87 percent.

Statewide home sales including Chicago’s North Shore (including single-family homes and condominiums) in April 2012 totaled 9,961 homes sold, up 15.7 percent from 8,606 home sales in April 2011. This was the best performance volume since 2010 when 10,897 homes were sold in April.

In the nine-county Chicago Primary Metropolitan Statistical Area, which includes North Shore area Cook and Lake counties (PMSA), home sales (single family and condominiums) in April 2012 totaled 6,814 homes sold, up 19.3 percent from April 2011 sales of 5,710 homes.

Sales and price information is generated by Multiple Listing Service which includes North Shore closed sales reported by 31 participating Illinois REALTOR® local boards and associations including Midwest Real Estate Data LLC data as of May 7, 2012 for the period April through June 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. Find Illinois housing stats data and the University of Illinois REAL forecast at www.illinoisrealtor.org/marketstats

Our Coldwell Banker Residential real estate office in downtown Glencoe, Ill-640 Vernon Ave, 60022; can be a source of information regarding this and other North Shore real estate market reports. Feel free to stop in and let any of our high performing, top ranked realtors assist you.

Glencoe-North Shore Market Trends: Update Feb-March2012

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The good North Shore real estate news remains consistent! Illinois-North Shore saw a 16.1% increase in home sales. This is the strongest Illinois Association of REALTORS®. January home sales data since 2007!

Statewide home sales including North Shore-Cook County (single-family homes and condominiums) in January 2012 totaled 6,435 homes sold, up 16.1 percent from 5,543 home sales in January 2011. The statewide median price in January was $122,500, down 9.3 percent from $135,000 in January 2011. The median is a typical market price where half the homes sold for more and half sold for less. Chicago Primary Metropolitan Statistical Area (PMSA), home sales (single family and condominiums) in January 2012 totaled 4,447 homes sold, up 15.7! The city of Chicago median home sale price for January 2012 was $149,000, down -0.7 percent compared to January 2011 when it was $150,000.

Loretta Alonzo, CRB, GRI, president of the Illinois Association of REALTORS® stated “Whether you’re a seller or a buyer, there are positives to this data. He continued by saying that “After years of standing on the sidelines, buyers are finding this is the right time to get into affordable housing. While sellers may not be getting all of the money they want for a house, they are getting traffic and interest at levels that haven’t been seen in several years.” “Motivated buyers and sellers moving in what has been a mild Chicago winter has helped move both distressed and traditional properties.

Based on the current North Shore market report, the month of January gave 2012 a solid surge in North Shore real estate home sales as well as the city of Chicago. The average commitment rate for a 30-year, fixed-rate mortgage for the Chicago North Shore region was 3.92 percent in January 2012, according to the Federal Home Loan Mortgage Corporation. Last year’s commitment in January averaged 4.80%. History has shown that low mortgage interest rates, low property prices, along with a consumer and employment gains in the month result in strong North Shore real estate home sales.

North Shore home sales and property price information is generated by Multiple Listing Service closed sales reported by 31 participating Illinois REALTOR® local boards including Chicago’s North Shore and associations including Midwest Real Estate Data LLC data as of February 7, 2012 through to March of 2012–for the period of analysis for January 1 through January 31, 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.

For more information on this information visit: housing statistics data and the University of Illinois REAL forecast at www.illinoisrealtor.org/marketstats.

or visit  http://www.illinoisrealtor.org/

Real Estate Outcomes January2012: Chicago’s North Shore

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Property Sales

As of February 2012 market reports, January 2012 North Shore Property sales were 8, down -27.3% from 11 in January of 2011 and -27.3% lower than the 11 sales last month. January 2012 sales were at their lowest level compared to January of 2011 and 2010. January YTD sales of 8 are running -27.3% behind last year’s year-to-date sales of 11.

Prices

The Median Sales Price in January was $737,500, down -23.4% from $962,500 in January of 2011 and up 3.6% from $712,000 last month. The Average Sales Price in January was $1,562,813, up 31.8% from $1,185,973 in January of 2011 and up 95.3% from $800,136 last month. January 2012 ASP was at highest level compared to market history within the range of January of 2011 and 2010.

Inventory & MSI

The Total Inventory of Chicago’s North Shore Properties available for sale as of January was 88, up 3.5% from 85 last month and down -17.8% from 107 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for market buyers. The January 2012 MSI of 11.0 months was at a mid range compared with January of 2011 and 2010.

Market Time

The average Days On Market (DOM) shows how many days the average North Shore or Cook County Property is on the Market before it sells. An upward trend in DOM tends to in show a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for January was 117, up 33.0% from 88 days last month and up 2.6% from 114 days in January of last year. The January 2012 DOM was at a mid range compared with market data from January of 2011 and 2010.

Inventory / New Listings / Sales

‘This last view of the market combines monthly inventory of Properties for sale as well as New Listings and North Shore property Sales. The graph shows the basic annual seasonality statistics of the market as well as the relationship between these items. The number of New Listings in January 2012 was 21, up 200.0% from 7 last month and up 5.0% from 20 in January based on last year’s historical data.

Our Coldwell Banker office located at 640 Vernon Ave., Glencoe,IL 60022 is available to help with all of your housing questions and concerns. From North Shore homes for sale or rent, to mortgage rates, market action reports, data, analytics or even neighborhood stats; we are here to help!

Real Estate Outcomes December2011: Chicago’s North

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Property Sales

As of January 2012, North Shore December Real Estate Property sales were up 10.0% from 10 in December of 2010 and 37.5% higher than the  8 sales last month.  December 2011 sales were at a mid level compared to December of 2010 and 2009.  December YTD sales of 137 are running 24.5% ahead of  last year’s year-to-date sales of 110.

Prices

The Median Sales Price in December was $712,000, up 24.6% from $571,500 in December of 2010 and down -28.4% from $993,750 last month.  The Average Sales Price in December was $800,136, down -8.0% from $869,500 in December of 2010 and down -38.5% from $1,301,563 last month.  December 2011 ASP was at the lowest level compared to December of 2010 and 2009.

Inventory & MSI

The Total Inventory of North Shore properties available for sale as of December was 84, down -12.5% from 96 last month and down -20.0% from 105 in December of last year.  December 2011 Inventory was at the lowest level compared to December of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.  The December 2011 MSI of 7.6 months was at its lowest level compared with December of 2010 and 2009.

Market Time

The average 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 Buyer’s market, a downward trend a move towards more of a Seller’s market.  The DOM for December was 88, down -60.5% from 223 days last month and down -8.3% from 96 days in December of last year.  The December 2011 DOM was at its lowest level compared with December of 2010 and 2009.

Inventory / New Listings / Sales

‘This last view of the market combines monthly inventory of Properties for sale along with Chicago’s North Shore New MLS 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 2011 was 7, down -22.2% from 9 last month and down -22.2% from 9 in December of last year.

 

For a complete list or Market Action reports for other North Shore locations like Winnetka, Wilmette, Northfield, Deerfield, Kenilworth, Glenview, Skokie, Lincolnshire, Highland Park as well as Glencoe stop by our downtown location of Coldwell Banker.  A top producing office offering exceptional North Shore Real Estate service for more than 40 years. We also offer active mortgage rate information through PHH mortgage. Stop by today, we’d love to help!

4 Ways to Give and Share on the North Shore-Happy New Year!

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I have pledged to continue supporting the community that has given back to me many times over. I volunteer for various North Shore village events and am proud to be associated with such organizations as the Glencoe Chamber of Commerce, American Cancer Society, American Diabetes Association and Josselyn Center for Mental Health.

Below are various ways and sources to contribute to the North Shore community, marking the end of a year and/or the beginning of a new:

1. Find a cause that speaks to you- Emily Marshall, President of Junior League of Evanston-North Shore suggests to start by donating to causes to which you have personal connections—an issue that affected a loved one or an organization that helped them/you in the past. You will find plenty of groups that focus on everything from homelessness to the environment to women’s equality, working right here on Chicago’s North Shore. Marshall reminds donors not to forget smaller community organizations. “Since 2008, the changes in economy have impacted smaller non-profits, which rely heavily on individual donations,” Marshall says. Small organizations usually don’t have big budgets to create a brand image like a large not-for-profits such as Red Cross, but many are doing meaningful work right in our own backyard. For a comprehensive listing of local non-profits, Marshall recommends The Volunteer Center.

2. Do a little charity due diligence- Treat your charitable contributions like your investment portfolio. That means that once you identify not-for-profits you want to help, you should research them. Begin by checking organizations’ websites, then research them on sites like CharityWatch.org and CharityNavigator.org, watchdog groups that evaluate non-profits’ on metrics like financial health, leadership and program effectiveness.

3. Roll up your sleeves- The best way to make sure your money is being put to good use is to become actively involved with the organization(s) you’ve selected. Match your dollars with some sweat equity. Volunteer, join the board of directors, or consider donating your professional “know-how” like legal or accounting services on a pro bono basis.

4. Don’t forget Coldwell Banker– Some may only associate our local Glencoe Coldwell Banker office with North Shore homes for sale, North Shore homes for rent, North Shore real estate or the latest housing report, analysis, data list or high-ranking performance award; but we are also a contributor to several charitable foundations that include places like Ronald McDonald House. Below is a list of other charities we help to raise funds for to provide financial assistance to housing-related causes that directly benefit the needs of the people and communities we are privileged to serve:

COLDWELL BANKER CHARITY LIST

The Glencoe-North Shore Coldwell Banker office can be found at 640 Vernon Ave, Glencoe, Illinois nestled within the town’s downtown area. We serve Evanston, Wilmette, Winnetka, Highland Park, Kenilworth, Northbrook, Deerfield, Northfield, Lincolnshire, Buffalo Grove, Glenview and Skokie communities.  Feel free to stop by.  MORE INFO HERE

Glencoe-North Shore Market Trends: Update Dec-January2012

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What a great way to end the year, with continual North Shore real estate news…Illinois home sales were up 14.2 percent in November!!

According to the Illinois Association of REALTORS® (IAR) latest report, statewide home sales (including single family and condominiums) in November 2011 totaled 7,954 homes sold, up 14.2 percent from 6,966 home sales in November 2010.

“Signs are emerging that a recovery in the housing market is underway including the steady uptick in home sales activity, which is expected to continue into the new year. As we move through the distressed properties, predominant in the Chicagoland market, and begin to see more positive reports on the jobs front we will be looking for some stabilization in home prices to coincide with the rising home sales”; said REALTOR® Loretta Alonzo, CRB, GRI, president of the Illinois Association of REALTORS®.

The added bonus, the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central-North Shore region was 4.0 percent in November 2011, down from 4.07 percent during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in November it averaged 4.30 percent.

In the nine-county Primary Metropolitan Statistical Area including Chicago’s North Shore-Glencoe (PMSA), home sales (single family and condominiums) in November 2011 totaled 5,453 homes sold, up 20.7 percent from November 2010 sales of 4,518 homes. The median price in November 2011 was $150,000 in the Chicago PMSA, down 14.3 percent compared to last year in November when it was $175,000.

“Little by little, there is some accumulating evidence that there may be some measure of recovery in the housing market,” said Dr. Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory (REAL) of the University of Illinois.

Fifty-two percent of Illinois counties reporting (52 of 100) showed year-over-year home sales increases in November 2011. Forty-one percent (41 of 100) showed year-over-year median price increases including Cook county.

“The market is being stimulated by buyers who are doing their homework and buying at the most compelling price they can, while sellers are working aggressively with their REALTORS® to price their homes to sell,” said REALTOR® Bob Floss, president of the Chicago Association of REALTORS®.

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 December 7, 2011 for the period November through December, 2011..ending reflection through January 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.

For the complete view of stats, analysis, reports, outlook or forecasts visit the Illinois REAL site: HERE

Gloria Matlin’s office is located at 640 Vernon Ave, downtown Glencoe, Illinois.  The top producing, top ranked office has been serving the North Shore real estate market for over 45 years.  We provide up to date-real time and relevant market data, property reports, mortgage resources, things to do and see/events in the community, general area information, inventory lists which can include homes for sale, as well as homes for rent on Chicago’s North Shore.  Stop by today, we look forward to providing optimal service!