Wednesday, July 10, 2019

Is It Time to Upsize or Downsize Your North Shore Home?


If you are a current North Shore homeowner or renter, now may be the time to consider if your living space is suitable for your current and future needs. This summer is a great time to sell your North Shore home, as buyer demand is high and prices have continued to increase at a steady rate. It’s also a great time to buy again after you sell, because mortgage rates have remained low!

As your North Shore real estate agent, I understand that homeowners and renters sometimes have to move, even if they love their home, so that it better fits their needs. If you’re considering a relocation in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities, now is the time to contact me and get started!

If you’re not sure if you need to upsize or downsize your home, here are some questions to ask:

1.  Is there enough space for you? If you have a growing family, you may have started to notice that your kids are outgrowing their shared bedrooms, or that the kitchen or dining space feels crammed at mealtime.  If your family is continuing to grow, your North Shore home may need to grow, too.

2.  Is there too much space for you? On the other hand, perhaps you are retired or will soon be retiring, and your adult children have moved out. Your home is bigger than you know what to do with. If the stairs are becoming a nuisance, or the cleaning seems endless, it may be time to downsize.

3.  Is the yard too big or small? Buyers are seeking outdoor space, so if you have a growing family, with either kids or pets, you may be wanting a larger yard to enjoy. If you’re thinking of downsizing, keeping up with the mowing and gardening in your large yard might feel like too much work now.

4.  Could you use a location improvement? If you are growing your family, you may be seeking a new location with a more family-friendly neighborhood, community amenities, safety and better schools. If downsizing, you may be seeking a location closer to family or in walking distance to restaurants, stores or public transportation.

5.  Has your financial situation changed? If you recently got a better paying job or a promotion, you may be ready to move up to a bigger, better home. If you recently lost a job or had an unforeseen expense arise, or you’re retiring and want to do some traveling, you may be wanting to lower your mortgage.

Our needs are constantly changing in life, so it’s only normal for our real estate needs to change as well! If you think you might be ready to upsize or downsize your North Shore home soon, give me a call. As your North Shore real estate agent, I can answer your questions, help you sell, and help you find a home in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities, that better suits your current and future needs!
     
Janie Bress
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Wednesday, June 26, 2019

Winnetka Real Estate Market Stats for May 2019

City Active Listings: There are a total of 183 properties actively on the market with the average price of $1,634,675 in Winnetka.

City Sold Listings: 24 properties closed last month in Winnetka with an average sales price of $1,559,466. The average time on market for these properties was 87 days. 



To view the complete report including additional detailed data, charts ad graphs, please

Janie Bress
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Northbrook Real Estate Market Stats for May 2019

City Active Listings: There are a total of 417 properties actively on the market with the average price of $657,355 in Northbrook.

City Sold Listings: 85 properties closed last month in Northbrook with an average sales price of $511,260. The average time on market for these properties was 41 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Northbrook market statistics

Janie Bress
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Highland Park Real Estate Market Stats for May 2019

City Active Listings: There are a total of 379 properties actively on the market with the average price of $810,214 in Highland Park.

City Sold Listings: 47 properties closed last month in Highland Park with an average sales price of $438,000. The average time on market for these properties was 61 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Highland Park market statistics

Janie Bress
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Glencoe Real Estate Market Stats for May 2019

City Active Listings: There are a total of 98 properties actively on the market with the average price of $1,372,553 in Glencoe.

City Sold Listings: 16 properties closed last month in Glencoe with an average sales price of $855,031. The average time on market for these properties was 99 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Glencoe market statistics

Janie Bress
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Deerfield Real Estate Market Stats for May 2019

City Active Listings: There are a total of 192 properties actively on the market with the average price of $604,027 in Deerfield.

City Sold Listings: 44 properties closed last month in Deerfield with an average sales price of $485,001. The average time on market for these properties was 51 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Deerfield market statistics

Janie Bress
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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
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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
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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
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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
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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
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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
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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
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Wednesday, May 1, 2019

Why to Sell Your North Shore Home This Spring


If you’ve been wanting to sell your North Shore home, but have been putting it off, you’re not alone. There is a lot of pent-up seller demand! As your North Shore real estate agent, I am here to help you understand why this spring season might be the ideal time for you to sell and accomplish your real estate goals in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities.

In the latest Seller Traffic Index released by the National Association of Realtors, home seller activity is weak nationwide, with only 11 states showing stable levels of seller traffic. The number of people that moved last year was half of what it was in the 1980s.

The amount of time a homeowner remains in their house has gotten longer as well. It used to be an average of six years from 1985 to 2008; now it is up to 9.5 years.

The economic downturn of 2008 played a big part, when homeowners found themselves in negative equity as home values dropped. Homeowners have been waiting for equity levels to rise. Now that they have, and home values are high, mortgage rates have also been increasing. Sellers have been waiting for interest rates to decrease before buying another home.

The conditions are perfect to sell now! Mortgage rates for 30-year fixed rate mortgages are around their lowest levels since January 2018. For anyone who would like to buy another home after they sell, or anyone buying for the first time, this is great news.

Because of the positive market conditions, 69 percent of people now believe that it’s a good time to sell a home, according to a NAR report. That means that the North Shore real estate market could see a major increase in listings soon!

North Shore homebuyers are ready. With lower interest rates, increased wages and signs of a strong economy, buyers are eager to buy now, before home prices increase more and interest rates increase again. If you list your North Shore home now, before the influx of listings, you could have a fast sale for a great price. If you wait, you might have a lot more competition from other sellers.

If you’d like to move up to your dream home, now is also the best time to sell, so you too can score a great interest rate while they remain low.

If you’d like to sell so you can downsize, retire or move closer to work or family, why wait? Home values are at a great place right now, and buyer demand is high. The sooner you sell, the sooner you could be settled into your new home for summer.

If you’ve got questions about the home-selling process or about market conditions on Chicago’s North Shore, I am here for you! As your North Shore real estate agent, I can answer any questions you may have, and I will guide you through the entire home-selling process. Give me a call today!

Janie Bress
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Monday, April 22, 2019

Winnetka Real Estate Market Stats for March 2019

City Active Listings: There are a total of 160 properties actively on the market with the average price of $1,771,888 in Winnetka.

City Sold Listings: 17 properties closed last month in Winnetka with an average sales price of $1,499,853. The average time on market for these properties was 100 days. 



To view the complete report including additional detailed data, charts ad graphs, please

Janie Bress
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Northbrook Real Estate Market Stats for March 2019

City Active Listings: There are a total of 330 properties actively on the market with the average price of $650,691 in Northbrook.

City Sold Listings: 46 properties closed last month in Northbrook with an average sales price of $524,744. The average time on market for these properties was 54 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Northbrook market statistics

Janie Bress
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Highland Park Real Estate Market Stats for March 2019

City Active Listings: There are a total of 318 properties actively on the market with the average price of $768,923 in Highland Park.

City Sold Listings: 34 properties closed last month in Highland Park with an average sales price of $477,723. The average time on market for these properties was 96 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Highland Park market statistics

Janie Bress
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Glencoe Real Estate Market Stats for March 2019

City Active Listings: There are a total of 85 properties actively on the market with the average price of $1,340,422 in Glencoe.

City Sold Listings: 8 properties closed last month in Glencoe with an average sales price of $1,450,250. The average time on market for these properties was 56 days. 



To view the complete report including additional detailed data, charts ad graphs, please view the Glencoe market statistics

Janie Bress
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Deerfield Real Estate Market Stats for March 2019

City Active Listings: There are a total of 160 properties actively on the market with the average price of $579,032 in Deerfield.

City Sold Listings: 27 properties closed last month in Deerfield with an average sales price of $502,065. The average time on market for these properties was 37 days. 


To view the complete report including additional detailed data, charts ad graphs, please view the Deerfield market statistics

Janie Bress
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Wednesday, April 3, 2019

Buy A North Shore Home This Spring!

If you put off your home-buying goals this winter in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, and other North Shore communities, I understand! As a North Shore real estate agent, I see that a lot, especially during a cold and snowy winter like we had this year. But now that the spring season has sprung, now may be a great time to purchase your North Shore dream home!

Here are a few reasons to consider buying a North Shore home this spring:

1.  Home prices will continue to rise. The latest U.S. Home Price Insights report from CoreLogic reports that home prices have appreciated 4.4 percent over the last 12 months. These reports predict that prices will increase another 4.6 percent over the next year. The sooner you buy, the more you could save each month on your mortgage payment!

2.  Mortgage rates may increase. Nobody knows what mortgage rates will do for sure, but all major mortgage experts predict that they will rise over the next 12 months, including Freddie Mac, Fannie Made, the National Association of Realtors and more. They are still low compared to historic standards, almost as low as 4 percent right now, so take advantage while you can!

3.  Spring conditions are better for house hunting. The weather here on the North Shore is always a wild card this time of year, but the days are longer, allowing more showings to take place in the evenings after work! There are also fewer days of snow and freezing temperatures. Take advantage now, before summer hits and all the fun that comes with it.

4.  You’re paying a mortgage either way. If you’re currently renting, you’re still paying a mortgage. You’re paying your landlord’s mortgage. Why not invest in your own financial future and start paying your own mortgage? You’ll build equity, and when you sell someday, you’ll get that money back! Homeownership is like forced savings, and your future self with thank you.

5.  It’s time to accomplish your dreams. You have a reason for wanting to buy. You want to invest in your financial future, you want to move to a community you’ve always wanted to live in, you want to be closer to work, or family, or public transportation, or parks. You want to be able to remodel your home however you wish. Whatever your reason is, why wait?

When ready to buy a home in the North Shore real estate market this spring, give me a call, your North Shore real estate agent! I am here to answer all of your questions about the market and the home-buying process, and then to guide you through the entire process until you have keys in your hand.

Once summer hits and the kids are out of school, or your social calendar fills up, your real estate goals might end up on the back burner. Take advantage of the warmer spring season and contact me! Let’s together accomplish your North Shore home-buying and/or home-selling goals now!

Janie Bress
Your North Shore Real Estate Expert


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Wednesday, March 20, 2019

Deerfield Real Estate Market Stats for February 2019

City Active Listings: There are a total of 158 properties actively on the market with the average price of $605,062 in Deerfield.

City Sold Listings: 10 properties closed last month in Deerfield with an average sales price of $400,460. The average time on market for these properties was 61 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


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Glencoe Real Estate Market Stats for February 2019

City Active Listings: There are a total of 84 properties actively on the market with the average price of $1,295,282 in Glencoe.

City Sold Listings: 7 properties closed last month in Glencoe with an average sales price of $648,000. The average time on market for these properties was 62 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


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Highland Park Real Estate Market Stats for February 2019

City Active Listings: There are a total of 257 properties actively on the market with the average price of $820,274 in Highland Park.

City Sold Listings: 22 properties closed last month in Highland Park with an average sales price of $638,199. The average time on market for these properties was 87 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


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Northbrook Real Estate Market Stats for February 2019

City Active Listings: There are a total of 276 properties actively on the market with the average price of $644,631 in Northbrook.

City Sold Listings: 39 properties closed last month in Northbrook with an average sales price of $477,590. The average time on market for these properties was 88 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


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