Wednesday, July 19, 2017

5 Refinancing Myths to Ignore on Chicago's North Shore

Homeowners on Chicago's North Shore have taken notice that rates are still hovering around historic lows and as a result, have begun thinking about refinancing. However, there are dozens of misconceptions and myths surrounding the topic of refinancing and many in Glencoe, Winnetka, Highland Park, Deerfield, and Northbrook may still be on the fence about whether or not it's a good move to make.

As your local North Shore real estate expert, I've included 5 refinancing myths worth clearing up before you make your decision:

1. You Won't Qualify
Your credit may have taken a turn over the past few years or maybe you've changed jobs, but that doesn't mean you won't qualify for a refinance. Guidelines are now loosening again and you may be surprised by what your lender has to tell you.

2. The Term Will Reset to 30 Years
If you've paid off years on your mortgage, you may be hesitant to refinance and reset the clock to 30 years. That is a relevant concern, but keep in mind that a 30-year mortgage is not the only option on a refinance. A shorter term ARM (adjustable rate mortgage) could be the better pick given your timeline and future plans for staying (or not staying) in your North Shore home.

3. You Missed Your Chance
Rates are still at historic lows, as I mentioned above, and while there is talk that they will continue to rise over the next year, there is still time to save money on your mortgage. Don't let hearsay about rising rates keep you from refinancing if it makes sense for your particular situation.

4. If You Have an ARM, You Can't Refinance
If you took advantage of a lower interest rate with an ARM and the higher rate has now set in, that doesn't mean you are stuck. You are still able to refinance into a 30-year mortgage if your credit allows and you are comfortable with the change in your monthly payment.

5. It Takes Too Much Effort
The first step toward refinancing is a call to your local North Shore lender to discuss how much you could potentially save by locking in a lower rate. This only takes a few minutes and if the outcome is favorable, gathering the necessary documents is well worth it.

Contact me today for more information about the North Shore real estate market, buying a home or selling your current home in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook or the surrounding communities!

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
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Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Wednesday, July 12, 2017

Winnetka Real Estate Market Stats for June 2017

City Active Listings: There are a total of 174 properties actively on the market with the average price of $1,945,309 in Winnetka.

City Sold Listings: 48 properties closed last month in Winnetka with an average sales price of $1,314,915. The average time on market for these properties was 69 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Winnetka market statistics

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
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Local Expert... with National Connections!

Northbrook Real Estate Market Stats for June 2017

City Active Listings: There are a total of 367 properties actively on the market with the average price of $743,534 in Northbrook.

City Sold Listings: 100 properties closed last month in Northbrook with an average sales price of $563,240. The average time on market for these properties was 35 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Northbrook market statistics

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Highland Park Real Estate Market Stats for June 2017

City Active Listings: There are a total of 365 properties actively on the market with the average price of $980,260 in Highland Park.

City Sold Listings: 75 properties closed last month in Highland Park with an average sales price of $671,950. The average time on market for these properties was 75 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Highland Park market statistics

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Glencoe Real Estate Market Stats for June 2017

City Active Listings: There are a total of 105 properties actively on the market with the average price of $1,433,727 in Glencoe.

City Sold Listings: 26 properties closed last month in Glencoe with an average sales price of $945,317. The average time on market for these properties was 57 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Glencoe market statistics

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Deerfield Real Estate Market Stats for June 2017

City Active Listings: There are a total of 202 properties actively on the market with the average price of $712,939 in Deerfield.

City Sold Listings: 38 properties closed last month in Deerfield with an average sales price of $520,355. The average time on market for these properties was 42 days. 



To view the complete report including additional detailed data, charts ad graphs, please view the Deerfield market statistics

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Wednesday, July 5, 2017

5 Things Not to Overlook in Homes on Chicago's North Shore

When shopping for a home on Chicago's North Shore, there will be many factors to consider, making it easy to overlook others. For instance, if you're concerned with the number of bedrooms, you may be quick to pass over how long your commute might be in this new location. As your local North Shore real estate expert, I have included below five factors not to overlook in homes in Northbrook, Glencoe, Winnetka, Deerfield, and Highland Park:

Your commute time
As I mentioned above, it is important to take into account how long it will take you to get to work each day from a new location. You may love the home itself, but if it's going to take you much longer to commute every day, you will want to weigh your options.

The neighborhood at different hours
Especially if you visit the home during the day, homebuyers can quickly overlook what the neighborhood might be like at night. Is it noisier once all of the neighbors are home from work and school? If you're strongly considering a home, be sure to visit at all hours.

Homeowners association
Some condos and homes on Chicago's North Shore are part of a homeowners association and are required to follow a set of rules regarding everything from landscaping to paint colors. Be sure to review the bylaws of the association if you find yourself interested in a property.

Resale value
You may not be bothered by a certain feature of a home on the North Shore, but that doesn't mean others won't be when the time comes to sell. It's always wise to be thinking one step ahead—in this case, to resale—as a buyer, especially if you plan to only be in the home for a short time.

Room to grow
From growing families to a growing need for storage, be sure not to overlook how much space the property has for your belongings. Think hard about what you might need in the future and if this home has the potential to accommodate or if you'd need to move again.

If you're shopping for a new home in Northbrook, Glencoe, Winnetka, Deerfield, Highland Park or the surrounding areas of the North Shore, give me a call today! I

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States.