Top 8 Reasons to Buy or Sell in Winter 2017-North Shore Real Estate Trends

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Chances are, buyers looking for a Chicago North Shore home during the winter season are serious about buying and not simply shopping around. Showing off some of the home’s finer features isn’t easy covered in a potential blanket of snow, but there are a number of things sellers can do to attract buyers:

 1. Less competition. In the winter season, there are fewer homes on the market, so your home will have less competition. Encourage buyers by offering attractive pricing and incentives.

2. Interior focus. Providing photographs from the summer months is important, but now is the time to highlight the inside of your home. North Shore realtors know, furnished homes and those that are organized have more appeal, so make sure the beds are made, the furniture is well placed, and the counter tops and closets are clear of any clutter.

3. Exterior demands. Snow can alter the look of the overall property. Shovel and de-ice all paths and doorways. The driveway should be plowed, along with the sidewalks. Make sure that all outside lights and doorbells work. Consider more lights that could be installed to effectively highlight the best areas of the house.

4. Winter warmth. The colder months can create times at home enjoying family. You can stage your home to showcase winter warmth with such sights and smells as crackling fires, scented candles and eye catching, but tasteful wreaths to appeal to buyers and make them feel like your home could be their own. The key–don’t over do it though!

 FOR BUYERS

1. Lenders also usually have fewer loans to process and less paperwork to deal with (though this can change quickly if rates fluctuate). With lenders less hassled, you can expect a smoother process to get approved for a mortgage.

2. Winter may have fewer buyers in the market. Fewer buyers could mean less North Shore real estate property competition.

3. The winter season has fewer units on the market, and sellers tend to need to move from their property. You can use that to your advantage to get a favorable deal.

4.The negatives that turn off both buyers and sellers in winter can create a savvy real estate hunter’s dream. For the clued-in home buyer such negatives can lead to a real gem of a deal. The motto that could put some serious money in your pocket between now and spring, remember this: Imagine the future, and don’t let winter pull your strings! More INFO

For a view of homes available on the North Shore, or to get market status/housing reports, analysis, trends, or open house lists, feel free to stop by our North Shore Office at 640 Vernon Ave, Glencoe, Illinois.  Gloria Matlin works out of one of the Chicago North Shore’s top ranked realtor offices.  847-835-0236 or direct at 847-835-6058

www.gloriamatlin.com

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Thinking of Selling? Top 5 Musts Before Listing: North Shore Real Estate

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North Shore real estate is well within the 2016 spring buying and selling season.  North Shore realtors may often advise clients of five basic principles to get your home in top “list ready” condition. Buyers and sellers alike are out rightspring now (on-line and in-person) perusing real estate options on places like Zillow and Trulia. Using these tips can promote a competitive standing in the market and make buyers appreciate the thoughtful preparation.

1. Go crazy on the curb appeal. Spring and summer mean getting out and enjoying the weather. It also means every detail of the outside of your home is far more noticeable.  Just put yourself in a potential buyers shoes and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly displayed? Is the address clearly visible from where you are? Are pretty flowers or plants framing the entrances? Is the walkway free from debris and impediments?

2. Clean and Organize. Eliminate any clutter and pack up your least-used items, such as large pictures or photos, out-of-season clothes, non-used kitchen items, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or even the basement. Clean the windows, carpets, walls, flooring, lighting fixtures, and baseboards to make the house sparkle.

3. Collect needed replacement estimates. Do you have big-ticket items that are worn out, out dated, or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace those things, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be a helpful guide for both parties when negotiations begin.

4. Know where to find your warranties. Collect the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other appliances or equipment that will remain with the house after it’s sold.

 5. A pre-sale home inspection is Key. Be ahead of the game by arranging for a pre-sale home inspection. An inspector will be able to give you a good outline of the trouble areas that will stand out to potential buyers, and you’ll be able to make needed repairs before an open house begins. The inspection may also be an additional guide for contact negotiation.

The top producing, high ranking  Coldwell Banker Residential Brokerage office located at 640 Vernon Ave in Glencoe, Illinois-60022; is home base for Gloria Matlin . The office has been a sound performing real estate resource for the North Shore community for well over 4 decades.  Stop by today to discover how we can assist with home buying, home selling, home rentals, reports, or just to get info on Chicago’s North Shore area things to do/ places to go or eat!

Top 4 Spring Prep Tips Before Listing: North Shore Real Estate

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Chicago North Shore real estate is well within the spring buying and selling season.  North Shore Realtors may often advise clients of four basic principles to get your home in top “list Springchecklistready” condition. Buyers and sellers alike are out right now (on-line and in-person) perusing real estate options on places like Zillow and Trulia. Using these tips can promote a competitive standing in the market and make buyers appreciate the thoughtful preparation by doing the following:

1. Clean and Organize. Eliminate any clutter and pack up your least-used items, such as large pictures or photos, out-of-season clothes, non-used kitchen items, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or even the basement. Clean the windows, carpets, walls, flooring, lighting fixtures, and baseboards to make the house sparkle. Having a garage sale may even be an option if time permits.

2. Go crazy on the curb appeal. Spring and summer mean getting out and enjoying the weather. It also means every detail of the outside of your home is far more noticeable.  Just put yourself in a potential buyers shoes and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly displayed? Is the address clearly visible from where you are? Are pretty flowers or plants framing the entrances? Is the walkway free from debris and impediments?

3. Collect needed replacement estimates. Do you have big-ticket items that are worn out, out dated, or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace those things, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be a helpful guide for both parties when negotiations begin.

4. Know where to find your warranties. Collect the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other appliances or equipment that will remain with the house after it’s sold.

 

Now for May 2015-The North Shore-Chicago  Coldwell Banker Residential Brokerage office located at 640 Vernon Ave in Glencoe, Illinois-60022; is home  to Gloria Matlin and partner Zack Matlin. The office has been a high performing real estate resource for the North Shore area for well over 40 years.  Stop in today to discover how this elite team can assist with home buying, home selling, home rentals, market action reports, or just to get info on Chicago’s North Shore communities and things to do/places to go!

Real Estate Outcomes May2012: Chicago’s North Shore

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Property Sales

North Shore real estate data for May 2012 shows, property sales were 9.1% higher than sales volume last year. May 2012 sales were at their lowest level overall compared to May of 2011 and 2010. May YTD North Shore sales ran       -21.7% behind last year’s year-to-date sales data reports.

Prices

The Median Chicago North Shore Sales Price in May was $909,500, down -4.3% from $950,000 in May of 2011 and up 18.7% from $766,500 last month. The Average Sales Price in May was $954,375, down -28.2% from $1,328,833 in May of 2011 and up 5.2% from $907,227 last month. May 2012 ASP (average sale price) was at a mid range compared to May of 2011 and 2010.

Inventory & MSI

The Total Inventory of North Shore Properties available for sale as of May was down -27.5% from May of last year. May 2012 Inventory was at the lowest level compared to May of 2011 and 2010.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2012 MSI of 7.9 months was at its lowest level compared with May of 2011 and 2010.

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 May was up 17.5% from 114 days last month and down -23.0% from 174 days in May of last year. The May 2012 DOM was at a mid range compared with May of 2011 and 2010 real estate reports.

Inventory / New Listings / Sales

‘The view of the market (see photo above) combines monthly inventory of Properties for sale along with New North Shore 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 May 2012 was up 22.2% from last month and in May of last year.

Our trusted Residential Real Estate office-Coldwell Banker, located in Glencoe, IL 60022; has been a community resource for well over 40 years.  Stop in today to ask questions about this report and other data concerning North Shore real estate for sale, or rent.  Our legendary service, top ranked volume, and experienced sales staff can be your summer guide.

5 Tips for Buying and Selling at the Same Time: North Shore Real Estate

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A common North Shore occurrence….clients who buy a home and sell at the same time; it can be done, stress free! The all too important element that makes the North Shore real estate process seamless is using an experienced agent that can guide you through a well thought out plan.

There are hundreds of variables and the possibilities, depending on your local market and your personal and financial status.  The main thing is to do as much of the buying and selling due diligence as you can up front. An experienced realtor can help with this.. Your agent can further ensure multi-transaction success by discussing these 5 tips:

1. Finances should be reviewed inside and out. You need to know not only what you can afford to buy, but also, what your house is worth before you even get started. Talk to your North Shore real estate agent and consult a mortgage banker or broker for loan pre-approval.

2. Ready? List it! Depending upon your situation, you might want to list your property toward the higher end of its value range, once you’re actively in the market. This can buy you time while you shop for your next home. And who knows? You may get the home sold at a higher price point.

3. Do the fixes needed to do to sell your property. Is your kitchen right out of the 1970s era? Do you have a faucet that constantly runs? If so, get busy fixing the things that could cause your home to sit on the market longer than necessary or worse, affect your home’s value.

4. Start now– learning the market, begin house shopping.  Use your North Shore realtor as your guide. Start going to open houses and seeing what’s out there. Begin the process of elimination and take note of what you want: the must-haves and the deal killers.

5. Start packing. Start boxing up stuff you don’t need easy access to. Get rid of all the things you won’t need until you’ve moved into your new home. This will help make your home show better and starting the packing process now will make it that much easier to move later. You may need to rent a storage unit temporarily for your stuff.

Our North Shore Coldwell Banker Residential Brokerage office located in Glencoe’s downtown area (640 Vernon Ave, 60022), can assist with buying and selling real estate questions. We also provide mortgage service resources and options.  Visit us online 24/7 or stop by our office to speak with Gloria Matlin or any of our top ranked North Shore realtors.

Top Loan Types & Lender Checklist: North Shore Real Estate

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Chicago’s North Shore real estate buyers are benefiting from historic mortgage interest rates that continue to hover at or near 60-year low points. This is a great time to buy or sell for seasoned investors as well as first time home buyers. Every buyer and seller should have running knowledge or at least brush up on basic North Shore mortgage products and types. It’s also good to have a checklist of what’s needed to get the mortgage process rolling. Below are some handy-dandy tips to take note of:

  • Common mortgage terms.   Mortgages are generally available at 15, 20, or 30-year terms. In general, the longer the mortgage term, the lower the monthly payment.   However, you pay more interest overall if you borrow for a longer term.
  • Fixed or adjustable rate loans. A fixed rate allows you to lock in a low rate as long as you hold the mortgage and, in general, is usually a good choice if interest rates are low. An adjustable-rate mortgage is designed so that your loan’s interest rate will rise as market interest rates increase.  ARMs usually offer a lower rate in the first years of the mortgage. ARMs also usually have a limit as to how much the interest rate can be increased and how frequently they can be raised. These types of mortgages are a good choice when fixed interest rates are high or when you expect      your income to grow significantly in the coming years.
  • Balloon loans. These mortgages offer very low-interest rates for a short period of time —often three to seven years. Payments usually cover only the interest so the principal owed is not reduced. However, this type of loan may be a good choice if you think you will sell your home in a few years.
  • Government-backed mortgages. These loans (Fannie and Freddie) are sponsored by agencies such as the Federal Housing Administration or the Department of Veterans Affairs and offer special terms, including lower down payments or reduced interest rates to qualified buyers.

Slight variations in interest rates, loan amounts, and terms can significantly impact your monthly payment. For help in determining how much your monthly payment will be for various loan amounts, use an online mortgage calculator: HERE

North Shore Mortgage Lender Checklist: What you need for a real estate mortgage

  • W-2 forms — or business tax return forms if you’re self-employed — for the last two or three years for every
    person signing the loan.
  • Copies of at least one pay stub for each person signing the loan.
  • Account numbers of all your credit cards and the amounts for any outstanding balances.
  • Copies of two to four months of bank or credit union statements for both checking and savings accounts.
  • Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
  • Addresses where you’ve lived for the last five to seven years, with names of landlords if appropriate.
  • Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
  • Copies of your most recent 401(k) or other retirement account statement.
  • Documentation to verify additional income, such as child support or a pension.
  • Copies of personal tax forms for the last two to three years.

Our top producing Chicago-North Shore real estate office, located at 640 Vernon Ave-Glencoe, Illinois 60022 is a resource for mortgage product questions and guidance. Visit HERE for additional information on North Shore home loans, interest rates, homes for sale, homes for rent, and general real estate financing options.

Does a Housing Upgrade Make Sense..Now?-North Shore Real Estate Trends

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Despite aspects of sluggishness in the Chicago-North Shore real estate market, one group continues to be active and thriving : buyers or sellers with or without families, who are bent on upsizing for space, walkable communities, and better school districts.

The following questions will help you decide whether you’re ready for a North Shore home that’s larger or in a more desirable area. If you answer yes to the majority of the questions, it’s a sign that you may be ready for a move.

  1. Have you outgrown your neighborhood? The Chicago-North Shore neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for the long-term. For example, you may have realized that you’d like to be closer to your job, life style conveniences or live in a better school district.
  2. Are you comfortable moving in the current  North Shore housing market? If your area is showing continual progress in home sales, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home.
  3. Have you built significant equity in your current North Shore property? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.
  4. Has your income or financial status improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving and moving up.
  5. Is there a reason why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your city doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best next choice.
  6. Do interest rates look attractive? A low mortgage rate not only helps you buy a larger home, but also makes it easier to find a buyer.

For information on moving up or down in this market click HERE and HERE

Visit http://www.gloriamatlin.com for community comparison and market snapshot data. You may also stop by our North Shore Coldwell Banker office for information on mortgage rates, loan options, market reports, data and outcomes statistics..640 Vernon Ave, Glencoe, IL 60022