Top 8 Reasons to Buy or Sell in Winter 2018-North Shore Real Estate Trends

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Chances are, 2018 buyers looking for a Chicago North Shore home during the late fall into winter season are serious about buying and not simply shopping around. Showing off some of the home’s finer features isn’t easily 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 countertops 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 overdo it though!


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. Son/partner Zack Matlin, works both in suburban and Chicago area Coldwell Banker locations. 847-835-0236 or direct at 847-835-6058

Is Your Home High Tech Ready?-North Shore Real Estate Trends

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According to a recent study by the National Association of Home Builders, many home seekers including North Shore real estate buyers are looking for high-tech and low maintenance homes. Homes that provide convenient  living with technology built-in. In fact, many builders are incorporating this theme not only in their homes but into community planning efforts as well.

Is your Chicago-North Shore property high-tech ready? Below is a list of recent “must have” technology or entertainment options, which are often requested by buyers:

  1. Is the home pre-wired for home theater or multiroom audio/video conditions/setup?  Are there in-wall speakers?
  2. Does the North Shore home have multizoning heating and cooling controls with programmable thermostats?
  3. Does the North Shore home have multiroom lighting controls, window-covering controls, or other home automation features?
  4. Are there enough jacks in each room for cable TV and high-speed Internet hookups?
  5. Are their ample telephone extensions or jacks?
  6. Does the Chicago-North Shore property have a local area network (LAN) for linking computers?
  7. Does the  North Shore home already have wiring for DSL or another high-speed Internet connection?
  8. Is the home wired with multipurpose in-wall wiring that allows for reconfigurations to update services as technology changes?

To further rate your north shore home on its technological sophistication, see the link for the Consumer Electronics Association’s Tech-Home checklist:

Feel free to stop by Coldwell Banker, North Shore residential real estate office in Glencoe, IL 60022-640 Vernon Ave. We can help determine your homes worth, provide community reports, market conditions, or answer any questions regarding north shore real estate for sale/rent. Our customer service is legendary.  With over 4o years of experience, our North Shore real estate agents/brokers look forward to assisting you.

Real Estate Terms Every Buyer and Seller Should Know: Chicago-North Shore Real Estate

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Below are definitions to be familiar with, if you are thinking of or are involved in buying or selling North Shore real estate. Or, just for your general knowledge. There are several terms, commonly used jargon, in the real estate industry that may appear to be a peculiar language all its own:

7/23 and 5/25 Mortgages Mortgages with a one-time rate adjustment after seven years and five years respectively.

3/1 5/1 7/1 and 10/1 ARMs Adjustable rate mortgages in which rate is fixed for three year five year seven year and 10-year periods respectively but may adjust annually after that.

Acceleration The right of the mortgagee (lender) to demand the immediate repayment of the mortgage loan balance upon the default of the mortgagor (borrower) or by using the right vested in the Due on Sale Clause.

Adjustable Rate Mortgage (ARM) A mortgage in which the interest rate is adjusted periodically based on a pre-selected index. Also sometimes known as a renegotiable rate mortgage variable rate mortgage or Canadian rollover mortgage. 

Adjustment Date The date that the interest rate changes on an adjustable rate mortgage (ARM).

Affordability Analysis An analysis of a buyer liabilities and available funds and considers the type of mortgage you plan to use the area where you want to purchase a home and the closing costs that are likely.

Appraisal An estimate of the value of property made by a qualified professional called an “appraiser. based on an appraiser’s knowledge experience and analysis of the property.

Assessment A local tax levied against a property for a specific purpose such as a sewer or street lights.

Assumption Fee The fee paid to a lender (usually by the purchaser of real property) when an assumption takes place.

Bridge Loan A second trust that is collateralized by the borrower’s present home allowing the proceeds to be used to close on a new house before the present home is sold. Also known as “swing loan.”

Buy Down When the lender and/or the home builder subsidized the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low they will increase when the subsidy expires. 

Conventional Loan A mortgage not insured by FHA or guaranteed by VA.

Credit Report A report documenting the credit history and current status of a borrower’s credit standing.

Credit Risk Score A credit risk score is a statistical summary of the information contained in a consumer’s credit report. The most well-known type of credit risk score is the Fair Isaac or FICO score. This form of credit scoring is a mathematical summary calculation that assigns numerical values to various pieces of information in the credit report. The overall credit risk score is highly relative in the credit underwriting process for a mortgage loan.

Debt-to-Income Ratio The ratio expressed as a percentage which results when a borrower’s monthly payment obligation on long-term debts is divided by his or her gross monthly income. See housing expenses-to-income ratio.

Deferred Interest When a mortgage is written with a monthly payment that is less than required to satisfy the note rate the unpaid interest is deferred by adding it to the loan balance. See negative amortization.

Earnest Money Money given by a buyer to a seller as part of the purchase price to bind a transaction or assure payment.

Equal Credit Opportunity Act (ECOA) A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race color religion national origin age sex marital status or receipt of income from public assistance programs.

Equity The difference between the fair market value and current indebtedness also referred to as the owner’s interest. The value an owner has in real estate over and above the obligation against the property.

Escrow Payment The part of a mortgagor hazard insurance mortgage insurance lease payments and other items as they become due.

Fixed Rate Mortgage The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower.

Foreclosure A legal process by which the lender or the seller forces a sale of a mortgaged property because the borrower has not met the terms of the mortgage. Also known as a repossession of property.

Market Value The highest price that a buyer would pay and the lowest price a seller would accept on a property. Market value may be different from the price a property could actually be sold for at a given time.

Preapproval The process of determining how much money you will be eligible to borrow before you apply for a loan.

Private Mortgage Insurance (PMI) In the event that you do not have a 20 percent down payment lenders will allow a smaller down payment – as low as 3 percent in some cases. With the smaller down payment loans however borrowers are usually required to carry private mortgage insurance. Private mortgage insurance will usually require an initial premium payment and may require an additional monthly fee depending on your loan’s structure.

Realtor® A real estate broker or an associate holding active membership in a local real estate board affiliated with the National Association of Realtors.

Survey A measurement of land prepared by a registered land surveyor showing the location of the land with reference to known points its dimensions and the location and dimensions of any buildings.

Third Party Origination When a lender uses another party to completely or partially originate process underwrite close fund or package the mortgages it plans to deliver to the secondary mortgage market.

Title A document that gives evidence of an individual’s ownership of property.

Underwriting The decision whether to make a loan to a potential home buyer based on credit employment assets and other factors and the matching of this risk to an appropriate rate and term or loan amount.

For More information on these terms as well as other mortgage terminology click HERE. Also, feel free to visit our Coldwell Banker office in Glencoe, IL 60022. 640 Vernon Ave in the heart of the downtown area. We can show you how these terms and others can impact a home for sale, rent, or for first time home buyers. Let our legendary 45 years of North Shore Real estate knowledge work for you!