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


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Wednesday, May 29, 2019

Glencoe Real Estate Market Stats for April 2019

City Active Listings: There are a total of 93 properties actively on the market with the average price of $1,333,089 in Glencoe.

City Sold Listings: 24 properties closed last month in Glencoe with an average sales price of $1,130,813. The average time on market for these properties was 78 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
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Local Expert... with National Connections!

Highland Park Real Estate Market Stats for April 2019

City Active Listings: There are a total of 353 properties actively on the market with the average price of $794,192 in Highland Park.

City Sold Listings: 52 properties closed last month in Highland Park with an average sales price of $573,157. The average time on market for these properties was 76 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
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Local Expert... with National Connections!

Winnetka Real Estate Market Stats for April 2019

City Active Listings: There are a total of 190 properties actively on the market with the average price of $1,652,871 in Winnetka.

City Sold Listings: 30 properties closed last month in Winnetka with an average sales price of $1,462,219. The average time on market for these properties was 91 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
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Local Expert... with National Connections!

Deerfield Real Estate Market Stats for April 2019

City Active Listings: There are a total of 179 properties actively on the market with the average price of $614,169 in Deerfield.

City Sold Listings: 44 properties closed last month in Deerfield with an average sales price of $475,659. The average time on market for these properties was 48 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
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Local Expert... with National Connections!

Northbrook Real Estate Market Stats for April 2019

City Active Listings: There are a total of 397 properties actively on the market with the average price of $647,712 in Northbrook.

City Sold Listings: 56 properties closed last month in Northbrook with an average sales price of $496,479. 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 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!

Friday, May 17, 2019

Why to Work With a North Shore Real Estate Agent

If you’d like to sell in the North Shore real estate market this spring, it is best that you work with a real estate professional when doing so. Since I am a North Shore real estate agent, you don’t have to take my word for it! Here are some reasons that Inman News gives for sellers to definitely work with an agent when trying to sell:

1.  Reality vs. Knowledge. We have the internet at our fingertips, and therefore many homeowners in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities might feel like they can research the home-selling process and know as much as an agent will. However, free instant valuation tools on the internet may not be accurate. What you think you know about your local market might not be accurate. Even if you find stats, they might be at least a month old. The market is constantly changing! Only an agent will know what houses like yours are selling for, how long they were on the market, who the interested buyers were, what features the buyers were interested in most, etc.

2.  Problem-Solving. Again, you can research how to deal with issues that arise during the home-selling process, but every situation is different, and no amount of research will help you make fast decisions that won’t make a buyer go running. If an inspection reveals the worst, or an appraisal comes in less than the contract sales price, it’ll feel like the end of the world to the seller, but agents face these issues regularly and will know how to handle them.

3.  Negotiations. Real estate professionals are full-time, professional negotiators. Overcoming objection is what we excel at! You may have a personal attachment to your home and take every criticism personally. We won’t. We will carefully gather the data and let you know if themes emerge as to why buyers walk away, or what buyers purchase instead. We will also know how to negotiate on your behalf, and whether you should counter an offer or reject a low offer. Buyers will be working with buyer’s agents, also professional negotiators. You’ll want a seller’s agent on your side!

4.  Marketing. Agents will get your North Shore home seen far more than you will alone! Signs in the front yard don’t cut it anymore. Most buyers find their home online. This means that you need professional photographs and description of your home, you need it listed in as many places as possible, you need it shared on social media, and you need an agent who has mad connections. All of this combined will ensure that your home is seen by as many potential buyers as possible!

Read more about what an agent can do for you as a North Shore home sellers in this Inman News article. If you’ve got questions, or you’re ready to begin the home-selling process in the North Shore real estate market, give me a call! As an experienced North Shore real estate agent, I am here to help in every way that I can!

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!