The North Shore Real Estate Market is On The Rise!

As a North Shore Real Estate agent serving Winnetka, Highland Park, Glencoe, Northbrook and Deerfield; I’m often asked how the real estate market is fairing.  The North Shore offers a variety of housing types, but leans toward the high end market which lends to a more high stakes endeavor in real estate.  

Buyers and sellers along the North Shore tend to be very savvy when it comes to their investments and won’t settle for mediocrity when it comes to real estate. Because of their wise investment strategies, they’ll come to me with questions about the current market as their trusted North Shore Real Estate agent.  We're all aware that the past few years in the national and local real estate market have been troublesome, but recent reports are consistently showing the progress in the markets’ recovery.

On the national level, CoreLogic recently released its July Home Price Index report.  It showed that there’s been a year-over-year increase in home prices (including distressed homes) by 3.8 percent from July 2011 to July of this year.  This jump was the largest seen since August of 2006, and is a huge encouragement for where the market is heading.  This past July also marked the fifth consecutive increase nationally in both the year-over year and month-over-month basis as seen is the 1.3 percent increase from this past June to July. 

Not only is the national market headed in the right direction, locally the Chicago market is growing in strength as well!  Local home prices saw their third straight increase according to the S&P/Case-Shiller index of Chicago area single family homes.  For those of you who enjoy knowing the details, the increase looked like this: April to May an increase of 4.5 percent, May to June up 4.6 percent and June to July prices rose 2.7 percent.  In this 20 city index around the Chicago area, the total increase in home prices was up 1.2 percent from last year. 

David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices noted, “The news on home prices in this report confirm recent good news about housing. Single-family housing starts are well ahead of last year's pace, existing home sales are up, the inventory of homes for sale is down and foreclosure activity is slowing.  All in all, we are more optimistic about housing. Upbeat trends continue. For the third time in a row, all 20 cities and both composites had monthly gains.”

The below graph from Case-Shiller shows that home prices index for July in the Chicago metropolitan area climbed to approximately the September 2001 level.

If you’re considering buying a home in the North Shore, I would encourage you to begin your search now before home prices continue to rise!  If you have questions about these recent reports or would like to discuss your home buying needs; please feel free to contact me today.

I would love to work with you to help you navigate the North Shore Real Estate market!

Janie Bress
Your North Shore Real Estate Expert

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Boost Your North Shore Home's Appeal This Fall!

Last week we looked at some of the key mistakes you can avoid when selling your North Shore home.  As a North Shore Real Estate agent, I understand that it can oftentimes seem overwhelming to think of going through the home selling process.  There are a number of aspects that all need to fall into place at once, but having an experienced North Shore Real Estate agent by your side each step of the way can ensure everything runs smoothly.

While the appearance of your North Shore home is only a portion of the equation of getting your home sold; it’s one aspect on which you, as the seller, can have a large impact.  As I mentioned in my previous post, the fall can be one of the best times of year to sell your home!  Buyers are anxious to get settle in their new home before the holidays, and you have the opportunity to really play up the appeal of the fall season!

Here are a few ways that you can make your home appealing to buyers this fall!

1. Update listing photos- If you had your home on the market this past winter or spring; it’s time to update your listing photos!  Your North Shore Real Estate agent can take care of getting photos of your home in the current season.  Pictures from the previous season make your listing seem dated

2. Focus on curb appeal- The fall is a great opportunity to play off the beauty of the season.  The changing leaves and cooler weather can allow you to enhance the look and feel of your walkway and front porch area.  Add red and orange mums to your highlight your front door, or a bench with a cozy throw to give the feeling of warmth from the moment buyers see your home.  You’ll also want to be sure to keep your yard well maintained and leaves at bay.

3. Create a Sensory Experience- Whether you light fall scented candles or have freshly baked cookies on the counter, appealing to the senses of taste and smell can immediately make buyers relax and feel comfortable in your home.

4. Give Warmth- If you have a fireplace, this is one of the things you’ll want to be sure to draw attention to in your home.  If it’s a cooler fall day, have the fireplace lit when buyers walk in so they get a sense of how cozy your home can be for the cooler months ahead.

5. Set the Table- Staging your dining room with beautiful place settings and fall decor can help buyers envision hosting holiday dinners in your home.  It also appeals to the heart as you’re creating thoughts of friends and family around the table. 

I hope these tips inspire you to boost the appeal of your home for buyers this fall!  With more North Shore homes going on the market each week in Glencoe, Winnetka, Highland Park, Northbrook and Deerfield; you’ll want to be sure your home stands out as a place people want to call “home.”

If you’re ready to put your home on the North Shore Real Estate market, or would like to learn more about how I will customize my home selling strategy for your home; please contact me today!

I look forward to hearing from you! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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7 Costly Mistakes to Avoid when Selling Your North Shore Home!

The fall season is always a great time of year on Chicago’s North Shore.  The changing leaves, the crisp air and vivid blue skies invite us to enjoy being outdoors while getting our homes ready to cozy up for the colder months ahead.  

As a North Shore Real Estate agent, it’s always a great time of year as the fall real estate market tends to pick up!  Buyers and sellers want to complete their transactions and be settled in their new homes before the holiday season.

If you are considering selling your North Shore home this fall, it’s important to begin now so that you don’t feel rushed.  When you’re hurried to sell, it’s easy to make costly mistakes.  Below are the top seven mistakes sellers make and how you can avoid them when selling your North Shore home!

Mistake 1: Putting the home on the market before it's ready. 

It’s important to not feel rushed to put your home on the market.  If you have procrastinated or need to sell your home quickly because of extenuating circumstances; it’s important to get any home improvements or repairs done prior to putting you home on the North Shore Real Estate market.  In this buyer’s market, people are looking for move in ready homes.  It’s better to wait a week or two in order to make sure your home is presented properly.  It will show better and sell more quickly.

Mistake 2: Over improving the home for the neighborhood. 

If you’ve been making improvements or are planning on doing extensive updates prior to selling, it’s important to keep other homes in the area in mind.  If your home is so far exceeds other homes in the neighborhood, it will no longer fit and you won’t be able to get the money out of it that you put in.  Buyers will look at other homes for sale in the area and will most likely choose a great option that is not as pricey as your home.  There is such a thing as over-improving. 

Mistake 3: Pricing the home based on how much you want to net.
Pricing your home this way is unrealistic and will always end up failing.  Talk with your North Shore Real Estate agent about pricing your home based on comparables and the current market.  Overpricing your home will result in a longer time on the market, multiple price drops and fading interest in your home.  Price is correctly from the beginning!

Mistake 4: Hiring an agent based on non-business factors. 

Don’t be afraid to research listing agents.  You want to make sure that your North Shore Real Estate agent is experienced in the market and has a proven track record of sales.  Referrals from friends, or hiring a friend who’s an agent may not be the best solution for getting your home sold. 

Mistake 5: Getting emotionally involved in the sale of the home. 

This is one of the hardest things for sellers to do.  The amount of time, money and energy you’ve put into your home can create an emotional tie when it comes to selling.  The best thing you can do is look at your home objectively and trust the advice of your North Shore Real Estate agent. 

Mistake 6: Trying to cover up problems, or not disclosing them. 

It’s always better to fix any problems before putting your home on the market.  Trying to cover them up or not disclosing them can result in buyers walking away or other legal issues. 

Mistake 7: Not getting your ducks lined up before trying to sell. 

It’s imperative to get your financing in order before you try to sell your home.  You’ll want to take a realistic look at the market with your agent and determine whether or not to wait till your home is sold to buy your new home or vise versa.  Your North Shore Real Estate agent can work with you to avoid any financial issues when it comes to selling. 

Again, as a North Shore Real Estate agent, I want to make sure you avoid as many mistakes as possible!  If you have questions about selling or would like to discuss your home and how I can customize my selling strategy for your home; please contact me!

I would love to help you get your North Shore home sold!

Janie Bress
Your North Shore Real Estate Expert

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Highland Park Market Stats for August 2012

Highland Park Active Listings: There are a total of 267 properties actively on the market with the average price of $980,644 in Highland Park.

Highland Park Sold Listings: 54 properties closed last month in Highland Park with an average sales price of $556,605, the average time on market for these properties was90 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
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Glencoe Market Stats for August 2012

Glencoe Active Listings: There are a total of 81 properties actively on the market with the average price of $1,516,470 in Glencoe.

Glencoe Sold Listings: 25 properties closed last month in Glencoe with an average sales price of $1,053,316, the average time on market for these properties was 74 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
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Winnetka Market Stats for August 2012

Winnetka Active Listings: There are a total of139 properties actively on the market with the average price of $1,117,568 in Winnetka.

Winnetka Sold Listings: 33 properties closed last month in Winnetka with an average sales price of $1,117,568, the average time on market for these properties was 112 days. 

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
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Northbrook Market Stats for August 2012

Northbrook Active Listings: There are a total of 241 properties actively on the market with the average price of $636,108 in Northbrook.

Northbrook Sold Listings: 83 properties closed last month in Northbrook with an average sales price of $429,292, the average time on market for these properties was 83 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
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Deerfield Market Stats for August 2012

Deerfield Active Listings: There are a total of 135 properties actively on the market with the average price of $493,218 in Deerfield.

Deerfield Sold Listings: 30 properties closed last month in Deerfield with an average sales price of $427,419, the average time on market for these properties was 67 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
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