Wednesday, July 10, 2019

Is It Time to Upsize or Downsize Your North Shore Home?


If you are a current North Shore homeowner or renter, now may be the time to consider if your living space is suitable for your current and future needs. This summer is a great time to sell your North Shore home, as buyer demand is high and prices have continued to increase at a steady rate. It’s also a great time to buy again after you sell, because mortgage rates have remained low!

As your North Shore real estate agent, I understand that homeowners and renters sometimes have to move, even if they love their home, so that it better fits their needs. If you’re considering a relocation in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities, now is the time to contact me and get started!

If you’re not sure if you need to upsize or downsize your home, here are some questions to ask:

1.  Is there enough space for you? If you have a growing family, you may have started to notice that your kids are outgrowing their shared bedrooms, or that the kitchen or dining space feels crammed at mealtime.  If your family is continuing to grow, your North Shore home may need to grow, too.

2.  Is there too much space for you? On the other hand, perhaps you are retired or will soon be retiring, and your adult children have moved out. Your home is bigger than you know what to do with. If the stairs are becoming a nuisance, or the cleaning seems endless, it may be time to downsize.

3.  Is the yard too big or small? Buyers are seeking outdoor space, so if you have a growing family, with either kids or pets, you may be wanting a larger yard to enjoy. If you’re thinking of downsizing, keeping up with the mowing and gardening in your large yard might feel like too much work now.

4.  Could you use a location improvement? If you are growing your family, you may be seeking a new location with a more family-friendly neighborhood, community amenities, safety and better schools. If downsizing, you may be seeking a location closer to family or in walking distance to restaurants, stores or public transportation.

5.  Has your financial situation changed? If you recently got a better paying job or a promotion, you may be ready to move up to a bigger, better home. If you recently lost a job or had an unforeseen expense arise, or you’re retiring and want to do some traveling, you may be wanting to lower your mortgage.

Our needs are constantly changing in life, so it’s only normal for our real estate needs to change as well! If you think you might be ready to upsize or downsize your North Shore home soon, give me a call. As your North Shore real estate agent, I can answer your questions, help you sell, and help you find a home in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities, that better suits your current and future needs!
     
Janie Bress
Your North Shore Real Estate Expert


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

Wednesday, June 26, 2019

Winnetka Real Estate Market Stats for May 2019

City Active Listings: There are a total of 183 properties actively on the market with the average price of $1,634,675 in Winnetka.

City Sold Listings: 24 properties closed last month in Winnetka with an average sales price of $1,559,466. The average time on market for these properties was 87 days. 



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

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Northbrook Real Estate Market Stats for May 2019

City Active Listings: There are a total of 417 properties actively on the market with the average price of $657,355 in Northbrook.

City Sold Listings: 85 properties closed last month in Northbrook with an average sales price of $511,260. The average time on market for these properties was 41 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
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Local Expert... with National Connections!

Highland Park Real Estate Market Stats for May 2019

City Active Listings: There are a total of 379 properties actively on the market with the average price of $810,214 in Highland Park.

City Sold Listings: 47 properties closed last month in Highland Park with an average sales price of $438,000. The average time on market for these properties was 61 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 May 2019

City Active Listings: There are a total of 98 properties actively on the market with the average price of $1,372,553 in Glencoe.

City Sold Listings: 16 properties closed last month in Glencoe with an average sales price of $855,031. The average time on market for these properties was 99 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 May 2019

City Active Listings: There are a total of 192 properties actively on the market with the average price of $604,027 in Deerfield.

City Sold Listings: 44 properties closed last month in Deerfield with an average sales price of $485,001. The average time on market for these properties was 51 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, June 12, 2019

Benefits of Down Payment for North Shore Homebuyers

When it comes to buying a home in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities, there are many options for mortgage loans! North Shore homebuyers can shop around for a mortgage loan and see what works best for them and their finances.

As your North Shore real estate agent, I’m here to offer you some general information on your down payment options. There are many programs out there now that allow to you put down as little as 3 or 5 percent on a North Shore home. With VA loans for veterans, you don’t need any down payment.

These programs are wonderful for families who do not have 20 percent saved for a home, as they can start building wealth sooner as North Shore homeowners.  However, if you do have a large sum of money saved for a down payment, or you can save one soon, it might be worth it.
Here are some benefits of the traditional 20 percent down payment:

1.  You don’t have to pay private mortgage insurance (PMI), which may be the biggest benefit of all. With less than 20 percent down, PMI is usually required as an insurance policy that protects the lender if you’re unable to pay your mortgage. This monthly fee is combined with your mortgage payment, making the amount you pay each month increase until you pay it off. This is not money you see again, so if you can avoid it, it’s best.

2.  Your interest rate will be lower. If you put down 20 percent on a home, your loan is seen as less risky than a loan with only 3 or 5 percent down. Therefore, you will most likely be offered a better rate, which means less money that you have to pay over time. This also means lower monthly mortgage payments over the life of your loan.

3.  You’ll pay less for your home. All of this combined means that the more you put down initially, the less you’ll pay over time, and the lower your monthly payments will be. The less you put down, the more interest you’ll be paying, and the higher your payments will be. 

4.  Your offer will stand out. It’s a competitive market, with inventory of homes for sale lower than average. This means that having a higher down payment will make you stand out to sellers, as they will have more confidence that the deal will go through because your financial situation is positive.

As you can see, if you can make a 20 percent down payment, you should. Usually current homeowners can use 20 percent from the sale of their current home for the purchase of their next home. For first-time buyers, it’s harder and not uncommon to put less than 20 percent down.

Every buyer situation is different, so your best bet is to meet with a local mortgage lender and discuss your options! When ready to buy in the North Shore real estate market, give me a call! As your North Shore real estate agent, I can help you find the home of your dreams that fits your budget!

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!