Wednesday, February 24, 2016

Common North Shore Homeowner Tax Mistakes You Can Easily Avoid

Being a homeowner on Chicago's North Shore comes with its advantages, and among them are the tax benefits available. But that doesn't always mean they are easy to calculate! If you haven't already filed your tax return this year, there are a few key spots you'll want to pay close attention to, especially when it comes to your North Shore home.

Deducting the wrong year for property taxes
North Shore homeowners are able to deduct property taxes, but be sure it is in the year you actually paid them. While you may be taxed a year behind (for instance, being billed for your 2013 taxes in 2014), it's important that you pay attention to the tax year. Homeowners should only enter the amount they actually paid in that year.

Confusing escrow amount and actual taxes paid
Your lender may escrow funds to cover your property taxes in Winnetka, Deerfield, Northbrook, Glencoe, Highland Park or the surrounding areas, but that doesn't mean you should just deduct the amount escrowed. Your lender may collect just over or just under the amount of your property tax bill and will adjust every year to set it back on track, but it is important to deduct only the amount in taxes noted on the form your lender sends. For instance, if your property taxes are $2,500, but your lender collects $2,400 or $2,600, you would deduct the $2,500.

Forgetting to track home-related expenses
When tax time rolls around, you may realize you forgot to track all of your North Shore home-related expenses. Instead of scrambling, scan or file expenses, documents and receipts as you go so you are prepared for the following year.

Forgetting to track capital gains
If you sold your home for a profit last year, you will need to pay capital gains taxes. Typically, homeowners can exclude $250,000 of any profit from their taxes or $500,000 if married filing jointly. For instance, if you purchased your home for $200,000 and sold it for $500,000, your gains are $300,000. As a single filer, you would owe $50,000 of gains.

With February drawing to a close, the busy spring real estate season is just starting to heat up! Give me a call today to get started on your home search in Winnetka, Deerfield, Northbrook, Glencoe, Highland Park or the surrounding areas!

I'm here to help!

Janie Bress
Your North Shore Real Estate Expert


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

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Wednesday, February 17, 2016

Winnetka Real Estate Market Stats for January 2016


City Active Listings: There are a total of 137 properties actively on the market with the average price of $1,765,372 in Winnetka.

City Sold Listings: 17 properties closed last month in Winnetka with an average sales price of $1,309,663. The average time on market for these properties was 151 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
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Northbrook Real Estate Market Stats for January 2016


City Active Listings: There are a total of 218 properties actively on the market with the average price of $711,050 in Northbrook.

City Sold Listings: 40 properties closed last month in Northbrook with an average sales price of $495,138. 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!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Highland Park Real Estate Market Stats for January 2016


City Active Listings: There are a total of 240 properties actively on the market with the average price of $978,058 in Highland Park.

City Sold Listings: 32 properties closed last month in Highland Park with an average sales price of $550,255. The average time on market for these properties was 95 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!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Glencoe Real Estate Market Stats for January 2016


City Active Listings: There are a total of 64 properties actively on the market with the average price of $1,468,825 in Glencoe.

City Sold Listings: 6 properties closed last month in Glencoe with an average sales price of $673,538. The average time on market for these properties was 98 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!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Deerfield Real Estate Market Stats for January 2016


City Active Listings: There are a total of 116 properties actively on the market with the average price of $663,706 in Deerfield.

City Sold Listings: 19 properties closed last month in Deerfield with an average sales price of $419,132. 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 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!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Wednesday, February 10, 2016

North Shore Chicago Home Factors That Will Affect Your Resale Value


Spring is just around the corner and if you've been planning to sell your North Shore home, you might be taking the necessary steps to get the property on the market for the busy season. However, what you may not realize is that certain features of your home in Winnetka, Highland Park, Glencoe, Northbrook or Deerfield will have an effect on its value.

Features like location, age, outdated or owner-specific renovations, size and number of bedrooms all determine how much your North Shore home is worth. Homeowners would be wise to keep the following in mind in order to have a more realistic outlook on what your property could sell for this spring:

Location
Your home's proximity to major highways, vacant lots or unsightly buildings can all hold back its value. Keep in mind that even homes in the same neighborhood can have drastically different listing prices, depending on their surroundings— For instance, one is on a quiet, inside street and the other backs up to a busy intersection.

On the other hand, if your home is in an area that has seen great development over the past few years, your home value may experienced the opposite and see a boost!

Renovations
Home features like wall-to-wall carpeting, wood paneling and glass bricks are a nod to a past time and could cause buyers to turn away this spring. Along the same lines, renovations that suit only your style like your dream bathroom of unique, colorful tiles could have a similar result. But don't be too quick to stage a major renovation. Small improvement projects like giving spaces a fresh coat of paint could be enough to show buyers the property's potential.

Number of bedrooms
The number of bedrooms and bathrooms in your North Shore home will also dictate its value. Homes with a lack of bedrooms, for instance a 2-bedroom as opposed to a 4-bedroom, will likely price on the lower end of the spectrum, despite other upgrades. Even homes in the most desirable of neighborhoods in Winnetka, Glencoe, Highland Park, Northbrook, Deerfield and the surrounding areas are not likely to see a high home value if they have a low bathroom count.

Ready to sell your home this spring or find out what your property could be worth in today's real estate market? Give me a call! I have nearly three decades of experience in helping North Shore homeowners achieve a timely and successful sale!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States. 

Wednesday, February 3, 2016

3 Places to Enjoy the Last of Winter on Chicago's North Shore

According to the Groundhog, we're in for an early spring on Chicago's North Shore! But before you start planning your garden and organizing your spring vacation, there are a few places in the area you might like to visit during these final few weeks of the winter season!

We'll all be heading outdoors soon, so why not venture indoors to get away from the cold and enjoy all that the North Shore has to offer? Whether you're dreaming of a weekend staycation or simply a day trip to a spot you've never been, I'm happy to share the following North Shore locales:

Winnetka Ice Arena
490 Hubbard Road
Winnetka, IL 

The Winnetka Ice Arena is the perfect place to show off your ice skating skills or try something new! Public skating is available Monday through Thursday until May 26 and Saturday and Sundays until March 20. Adults can skate for $7 and youth (ages 5 to 17) for $6, both with a $3.50 skate rental per session. You can also catch the Spring Skating Exhibition on March 12 from 12:30 PM to 1:30 PM to watch the Free Skate program participants demonstrate their skills!

Chicago Botanic Garden
1000 Lake Cook Road
Glencoe, IL

The Chicago Botanic Garden has been a must-visit on Chicago's North Shore for more than 40 years! It is one of the world's great living museums and conservation science centers, including 26 gardens, 4 natural areas, 385 acres and 6 miles of shoreline. Winter hours for the Garden are 8 AM to Sunset through March 31. You can also visit the Garden February 14 through March 14 for their renowned Orchid Show!

Athletico Center
1900 Old Willow Rd
Northbrook, IL

When the temperatures drop, head indoors to the Athletico Center in Northbrook! The Athletico Center is the North Shore's premier sports and event center and offers a variety of activities from leagues to classes to birthday parties. The space is home to the IBJI Fieldhouse (a massive indoor field surface), Basketball Court and Event Center (a 7,300 square foot court), a party and meeting room and an outdoor patio (a 2,600 square foot area with outdoor fireplace and grill).

Let me be your guide to the North Shore this year, whether you're looking to purchase your first home or sell your current property and move on to the home you've always been dreaming of! Give me a call today for more information about the local real estate market and a list of available properties!

Janie Bress
Your North Shore Real Estate Expert


North Shore Real Estate
View North Shore Listings
Visit My Website


Local Expert... with National Connections!

Locally or across the country, think of me as your national connection. I can help you with all your real estate needs anywhere in the United States.