Wednesday, December 8, 2010

House Hunting This Holiday Season in the North Shore!

Buying a home in Chicago’s North Shore during the holiday season may seem like the last thing you would want to do. The hustle and bustle of the season has you running from shopping to parties and special events, and the thought of adding one more thing into the mix may seem overwhelming. However, the holiday season can be the ideal time to start searching for your North Shore home!

According to a recent Case-Schiller report; the price of homes in the Chicago Metropolitan area seem to be holding. The past year has shown some upward ticks followed by further price reductions, but we are now where we were in October of 2002 before the market’s downturn. With the market beginning to balance out; we can rest assured that buying a home is once again a financially sound decision. Below you’ll see the course that the Chicago Metropolitan area market has taken over the past ten years. (Please click on image for larger preview).

So, with the market improving and the holidays upon us you may be wondering why now would be a great time to jump into the North Shore Real Estate market. I’ve gathered 5 reasons that can make this holiday season even more special as you begin searching for a home in Chicago’s North Shore!

1. Lower Prices- With the lack of people searching during the holidays for a home in Chicago’s North Shore; we’ve seen the prices soften. You can visit my website, to see a list of my current homes for sale in the North Shore! You’ll notice these homes are priced to sell and are a great deal for buyers.

2. Less Competition- Many buyers don’t think to take advantage of house hunting during the holidays, so you’re sure to avoid any bidding wars that would occur at a peak point in the North Shore Real Estate market. This will mean a less stressful home buying process for you!

3. Motivated Sellers- Sellers dread not being able to sell their homes before the holidays get under way. They’re very aware that most are not in the market to buy a home until Spring rolls around, which means; they’re motivated. They know showings of their home will greatly decrease, so any activity on their home is good news. Oftentimes they’re willing to come down on the price or be flexible with closing dates, and other extras.

4. Favorable Mortgage Terms- Mortgage lenders may be willing to lower interest rates or let go of some of their fees in order to gain your business. With fewer people shopping for homes; they will be experiencing a slower time in their business as well. Be sure to shop around to get the best possible deal.

5. Tax Deduction- Closing before the end of the year can mean you are eligible to deduct the interest component of your first monthly mortgage payment from your taxable income for this year. You may also be able to deduct any money you pay for points to reduce your interest rate. Of course you’ll want to consult with a North Shore tax advisor to talk over the full details.

While it may not seem convenient, taking the time to find your ideal North Shore home now can prove to be a stress free and cost effective decision! If you have your eye on a few of the beautiful homes in Glencoe, Highland Park, Northbrook or any of the other charming North Shore communities; I'd be happy to set up a time for you to see them!

As a North Shore Real Estate agent for over twenty five years; I can help you find the community and home that best fits your needs and lifestyle. Feel free to contact me anytime with questions you may have regarding the North Shore Real Estate market or to begin your North Shore home search! I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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