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.

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Strong Market Momentum Continues in Summer – North Shore/Chicago Real Estate

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Recent Listings by Gloria Matlin (Click image for more info)

As we joyfully move through summer 2016, Illinois, Chicago and North Shore home sales saw a June surge higher than last year while median prices also saw strong gains, according to the Illinois Association of REALTORS®.

The time it took to sell a home in June averaged 63 days statewide, down from 68 days a year ago and faster than 72 days last month.

Sixty-one (61) counties recorded median price gains in June 2016 over previous-year numbers, including Cook  County, up 9.2 percent and Lake County, up 14.0 percent. Sellers keep reaping the rewards of a market that has continued to see median prices edge higher every month this year, Consumer interest remains keen, as shown by the month-over-month increases in sales recorded since February and the relatively short time it is taking to sell a home. More information can be found HERE

Real estate is all about location,location, location…Click the image below to explore local market conditions, sales trends and more through Coldwell Banker’s detailed yet easy to understand videos that capture facts and info you need for any location you choose:

Monthly Market Update (Click to Play)

Monthly Market Update (Click to Play)

With long standing top producing, high ranking, client focused passion for real estate, Gloria Matlin with son and partner Zack Matlin, remains North Shore’s consummate real estate professional. With over 25 years of experience, confidently look to her for all things Chicago’s North Shore real estate this summer season 2016.

Summer 2016 Home Buying Benefits – Chicago North Shore Real Estate Experts

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Across the country as well as here on Chicago’s North Shore March through July are the most popular months for buying a house. In the spring and summer, you’ll often find a large selection of homes for sale.

Reasons to Buy a Home in the Summer
Do you have kids in school? If so, you probably want to sell your house and move into a new one before the next school year starts. Moving over the summer lets kids finish the term at their old school, as well as explore the neighborhood and make friends before the first day at their new school.

Be Ready to Close
If you determine that summer is the best time for you to buy, be prepared to make an offer quickly, . Make sure you know your limits: Which home features are must-haves, and what is the most you are willing to spend? Also, keep in mind that even if you’re pre-approved for a loan and are ready to push paper, it may take weeks or a couple months to close on the home. If you want to move in midsummer, you may need to start house-hunting in spring.

To get a glimpse of the properties for sale on Chicago’s North Shore, see the videos and images below or click HERE and HERE for a complete list of details and/or tips.

With top producing, 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 Glencoe communities. As a seasoned North Shore Realtor, she is a trusted resource, and maintains national top 1% performance success with grace and tenacity. Look to her for all things real estate on the North Shore of Chicago this summer season, 2016!

 

This Spring, is one of the Best Times to Buy….Know Why?

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With today’s market conditions, now is one of the best times to find your perfect home at the price you want. If you wait, prices and interest rates will rise and you may find yourself on the outsideSpringView-2016-GM looking in.

Choices are out there. In the past, the amount of homes on the market was very low and selection was poor. In today’s market, a buyer is able to find the right home without compromising any needs or wants.

Take your time in researching your new home. Shop around. Look at multiple homes and compare. In previous years, the seller’s market rushed buyers to make offers without thinking about their decision. Now; you can afford to give your decision the time and consideration it requires.

Make sure your home is in the best condition. Practice due diligence and schedule home inspections and appraisals on the property that you are interested in. No longer do you have to waive these contingencies with the fear that you may lose the home to another offer. Also, submit any repair requests that you may have to the seller before purchasing the home.

Reliable and trustworthy financing is available. The re-emergence of fixed rate mortgages and the rapidly disappearing adjustable, sub-prime loans make this a great time to buy your new home!

Contact me today, I can assist!

 

Experts Not Worried About Rising Rates – North Shore Real Estate Trends

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Mortgage rates would have to be higher than 6% to discourage prospective fall and even winter home-buyers from

FiveStar-GloriaMatlin-2buying a home. While the jury is still out on what the Federal Reserve is going to do about the Fed Funds rate increase, there is certainty that it will happen at some point in the near future. The lack of consensus stems from mixed signals coming from various components of the economy and the financial situation abroad. The good new is:

How Higher Mortgage Interest Rates Will Impact the Housing Market?

When the Feds decide to raise rates, any increase will be nominal and gradual. The anticipation is that the initial increase will be only 25 basis points (e.g., from 3.75% to 4.00%). This is still about 50 basis points lower than the high reached in the summer of 2013 when the Federal Reserve first announced that it would start fading out of its easy monetary policy.

Nonetheless, Americans are well aware of the anticipated mortgage rate increase that’s coming up: 42% of Americans think mortgage interest rates will increase over the next six months, while 20% believe the rates will stay the same. A third (32%) of Americans, and almost 4 in 10 (38%) Millennials, are still unsure about what will happen to the mortgage rates, with Millennials are not as likely as other generation to think that rates will increase at all over the next 6 months.

Falling houses with percent symbol on sky background

How Do Americans Feel About Rising Mortgage Rates?

Interestingly, for Americans who are looking to purchase a home this year, mortgage rates are not the primary concern. Among Americans who would ever buy a home, most worried about being able to get a mortgage and if they could find a home that they would like. Raising mortgage rate is only the third concern, followed by fears that home prices would increase before they buy a home. But, for millennials aged 18-34 years old, simply being able to get a mortgage is the biggest and marginally larger concern than for all Americans in general. Millennials also worry more about finding a home they like and home prices rising before they worry about raising mortgage rates.

Long story short, an increase in rates would not turn people off from buying a home, but it may slightly lower the price range in which they are looking to buy. Also, the impact is quite dependent on the price range in which the prospective buyer is looking to buy. – See more mortgage rate details HERE

2015-November: For a second year, Gloria Matlin has earned the esteemed Five Star Real Estate award for 2015. This honor is one of many that confirms her standing as Chicago North Shore’s  client driven, top performing, highly trusted real estate professional.  On The Go?…Move with Glo this autumn season.

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

Spring into Summer with an Elegant English Manor-Kenilworth Real Estate

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The carefully chosen amenities bring the “old world” charm to a new level of luxury!  This Exquisite East Kenilworth, Illinois English manor has elegant design and craftsmanship throughout. A Generous living room with French Doors that lead to a music room. The Stunning gourmet kitchen with separate breakfast room, or Sumptuous master suite on 2nd level, in addition a Magnificent private terraced back yard with 2 separate blue-stone patios, as well as a three car heated garage. Click the image below for additional details:

74 Tudor Place-Listinginfo

Presenting 74 Tudor Place in Kenilworth (Click the image for details)

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