Sunday, July 20, 2014

Upcoming Events on Chicago’s North Shore


North Shore Late Summer Events

North Shore Real Estate
Events on Chicago's North Shore
The 4th of July has passed, and the first day of school will be here before you know it. With so many community events, you’ll definitely want to take the opportunity to get out to some of the North Shore’s late summer favorites. Organized events that create a sense of community are something that so many love about Chicago’s North Shore, and here are a few locally renown upcoming choices:


Northbrook Days

Northbrook, IL
July 30th - August 3rd

Head out to the Village Green for five fun-filled days of carnival rides, games, the “Taste of Northbrook”, and a local business expo. There is even going to be a wine and painting event held on Sunday, August 3rd. You won’t want to miss out on this annual family-friendly summertime favorite hosted by the Northbrook Civic Foundation.

Chicago Botanic Garden Kite Festival

Glencoe, IL
August 9th & 10th

Who doesn’t love to fly a kite? This event gives children of all ages the opportunity to do so in the beautiful setting of the meadow west of Evening Island at the Botanic Garden. The Chicago Fire Kite Team will be on hand, along with other professionals, to both demonstrate and teach. Food and treats will be available for purchase at the festival.

2014 American Craft Exposition

Evanston, IL
August 22nd - 24th

This a long-standing event held annually at Northwestern University. One of the most-loved North Shore summer fairs, The American Craft Exposition a highly competitive, juried art event with a wide variety of artistic stylings — metals, jewelry, leather, wood, decorative fibers and ceramics, just to a name some. There will also be a benefit preview to support ongoing breast and ovarian cancer research on the North Shore.

It’s so important to enjoy the community in which you live, and Chicago’s North Shore makes that easy to do. The communities offer such a variety of festivals and fairs, there is definitely something for everyone. Please feel free to contact me if you would like more information about Chicago’s North Shore. As a long-time North Shore real estate professional, I love helping people fall in love with it.

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
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Saturday, July 12, 2014

Winnetka Market Stats for June 2014


City Active Listings: There are a total of 165 properties actively on the market with the average price of $2,231,629 in Winnetka.

City Sold Listings: 27 properties closed last month in City with an average sales price of $1,286,750, the average time on market for these properties was 70 days.
Winnetka IL Real Estate
Winnetka Stats June 2014
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
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

Northbrook Market Stats for June 2014


City Active Listings: There are a total of 247 properties actively on the market with the average price of $768,700 in Northbrook.

City Sold Listings: 78 properties closed last month in Northbrook with an average sales price of $491,362, the average time on market for these properties was 43 days. 

Northbrook Stats June 2014

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!

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

Glencoe Market Stats for June 2014


City Active Listings: There are a total of 81 properties actively on the market with the average price of $1,730,896 in Glencoe.

City Sold Listings: 17 properties closed last month in Glencoe with an average sales price of $1,339,441, the average time on market for these properties was 36 days.

Glencoe IL Real Estate
Glencoe Stats June 2014
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!

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

Highland Park Market Stats for June 2014


City Active Listings: There are a total of 238 properties actively on the market with the average price of $1,128,781 in Highland Park.

City Sold Listings: 63 properties closed last month in Highland Park with an average sales price of $631,641, the average time on market for these properties was 63 days. 
Highland Park Stats June 2014
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!

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

Deerfield Market Stats for June 2014


City Active Listings: There are a total of 112 properties actively on the market with the average price of $648,936 in Deerfield.

City Sold Listings: 39 properties closed last month in Deerfield with an average sales price of $433,825, the average time on market for these properties was 52 days.
Deerfield IL Real Estate
Deerfield Stats June 2014
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!

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

Sunday, July 6, 2014

North Shore Mortgage Options

Understanding the Different Types of Loans Available When Purchasing a North Shore Home


Home financing can be confusing, and yet it’s one of the most critical part of buying a home if you aren’t paying cash. There are so many different mortgage types out there, it can be difficult to know which one is right for you. As a long-time realtor on Chicago's North Shore, I’ve gained knowledge on many types of home loans. Here’s a rundown of the most common that you’ll encounter.

Fixed-Rate

This is the most common and standard type of mortgage loan. The terms range from 5 to 50 years, but most often a fixed-rate loan is a 30-year term. When you have a fixed rate mortgage, your interest is completely amortized over the term of the loan. Right now, fixed-rate interest rates are particularly low. As of earlier this week, a 30-year fixed loan rate was as low of 4.12%. The beauty of the payment on a fixed-rate mortgage is that it will remain the same for the entire term of the loan.

Interest-Only

This type of loan is not actually “interest-only”. It just allows the borrower the option to make payments in the amount of the monthly interest only for a certain period of time. Typically there is a limit on the amount of time that the borrower has this option, usually the first 5 to 10 years of the loan.  Thereafter, the the full payment including principal must be made for the remainder of the term of the loan. This type of loan can be helpful to first-time buyers, as it does allow for a lower payment if one chooses to make an interest-only payment.

FHA

The Federal Housing Administration (FHA) is a division of the government that insures this type of home loan. By having this government insurance, the lender can require less than a 20% downpayment. Between that and the fact that the credit guidelines are not quite as stringent as a conventional loan, this can be a great option for first-time buyers.  This type of loan, however, does have strict appraisal guidelines.


Adjustable-Rate

There are many varieties of adjustable-rate mortgages (ARMs). Depending on the type, your rate can change monthly, semi-annually, or annual. Some of these loans are fixed for a specific period of time, commonly 2-5 years, and then adjust for the remaining years of the term.  The potentially scary part of this type of loan is the fact that one cannot predict what is going to happen with the economy and interest rates over the next 30 years, so it is possible for your monthly payment to go up significantly upon adjustment.


Combo/Piggyback

Having a combo loan basically means that you have two mortgages paid to two different lenders. This loan is appealing because it can allow for a smaller downpayment and eliminates the need for private mortgage insurance (PMI). Some of these loans will require 5-10% down, while others will require nothing down.

Since most buyers are not able purchase real estate on Chicago’s North Shore with cash, it’s a good idea to research your mortgage options if you’re considering a purchase. While there are numerous of types of loans and even subsets within the list above, chances are that your mortgage will fall into one of these five categories. Deciding which one is right for you will really depend on your credit and personal needs. For more guidance on home financing or for information on real estate on Chicago’s North Shore, please contact me.   I have a passion for North Shore real estate and would be happy to assist you with all of your real estate needs.

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