Wednesday, November 30, 2011

Buy a North Shore Home this Holiday Season!

With the holidays now in full swing, the next few months are sure to be filled with North Shore festivities and your own gatherings with loved ones. If you’re one who’s interesting in relocating to Chicago’s North Shore or have been hoping to buy your dream home in Northbrook, Winnetka, Deerfield, Highland Park or Glencoe you may be surprised to learn that buying a home during the holidays can be an ideal time to do so!

Last week we talked about the benefits of homeownership in the North Shore, but this week I wanted to point some of the highlights of buying a home during this festive season. As a North Shore Real Estate agent, I understand that buying a home is a large decision, but the process can be stress free and efficient when you have an experienced North Shore Real Estate agent to walk with you each step of the way!

1. Lower Prices- With the lack of people searching during the holidays for a home in the North Shore; prices soften a bit. You can view my website,, to see a list of my current North Shore homes for sale. 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 on the North Shore Real Estate market. This will mean a less stressful home buying experience 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. Your North Shore Real Estate agent will help point you in the right direction.

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.

As you can see, there are substantial reasons to take the next step towards buying a North Shore home this holiday season! There are many beautiful homes currently on the North Shore Real Estate market, so you’re sure to find one that fits your needs and lifestyle. I’d be happy to meet with you and help you find your next home!

Not interested in buying until next year? You’ll be happy to know that the Federal Housing Finance Agency (FHFA) just announced that conforming loan limits will remain unchanged for 2012! A conforming mortgage is one that, literally, conforms to the mortgage guidelines as set forth by Fannie Mae and Freddie Mac. While the conforming loan limits rose with the increasing home prices each year from 1980 to 2006, 2012 will mark the 7th year that the single family conforming mortgage loan limit will remain at $417,000.

If you have any questions about conforming loans or about buying a North Shore home this year, feel free to contact me today!

Janie Bress
Your North Shore Real Estate Expert

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1 comment:

  1. Homebuying can indeed be a stressful experience and having a professional assist you with your mortgage financing may be a service worth paying for. After all, he/she will be handling your most valuable asset, your home.

    David from