Now is Time to Buy and Sell on Chicago’s North Shore!

If you haven’t been keeping up with real estate market news, as your North Shore real estate agent, let me fill you in on some key factors. This summer is the ideal time to both buy and sell, so I wouldn’t want this news to slip under your radar! If you want to buy and/or sell a home in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, or other North Shore communities, now may be your perfect opportunity.

For North Shore homebuyers, the great news is that mortgage rates are hovering near historic lows, and signs show that they will remain low for awhile. Freddie Mac said they predict an average mortgage interest rate of 3.4 percent for 2020. This week they were as low as 3.13 percent! By locking in a low rate, you can save thousands of dollars over the life of your loan, and even hundreds per month! So, whether you are buying your first home, buying a second home, or selling your current home to buy a new home, low mortgage rates will work in your favor.

The less positive news for buyers is that the inventory of homes for sale is still low. So, to better your chances at having one of your offers accepted, you should be preapproved by a mortgage lender before you start your home search, to give you a competitive advantage and accelerate the home-buying process. You should also work with a trusted real estate agent, so you know about homes as soon as they are listed, or even before they are listed to the public, so you get in to see a home as soon as possible, so you have a professional negotiator on your side when making offers, and so you have a professional to guide you through a bidding war if it comes to that.

For North Shore home sellers, low mortgage rates are also good news, because so many buyers are out and eager to buy while rates are low! Many listings are flying off the market because of supply and demand. In May, listings fetched nearly three offers each. The demand is high from buyers, the supply of homes for sale is low. These are perfect conditions for a home seller to sell their home fast, and for a great price.

The sooner you list, the better, because more homes are likely to enter the North Shore real estate market as the summer season continues, and as more COVID-19 restrictions are lifted. You can feel safe and secure showing your house now, as many safety guidelines are in place to protect homeowners and their space, even during live showings.

If you feel ready to buy and/or sell on Chicago’s North Shore this summer, or you’ve got questions about the local market or the home-buying and/or home-selling process, give me a call! As your local North Shore real estate agent, I can answer all of your questions and get your started just as soon as you’re ready. Don’t let this excellent opportunity pass you by!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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North Shore Moving Tips

If you are ready to accomplish your North Shore real estate market goals this summer, in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, or other North Shore communities, I am here to help! As your North Shore real estate agent, I can assist you in selling, buying or both. The market is picking up! Home sales are up, mortgage rates are low and buyers are eager.

Whether selling or buying, a move is in your future. You should feel excited about your move, not anxious! To help with that, here are a few moving tips to help you feel prepared when the time comes:

1.  Have a packing plan, and get started. Even if your house isn’t listed yet, or you haven’t applied for a mortgage loan yet, it’s never too early to have a packing plan! As soon as possible, start decluttering and donating, recycling, selling or tossing anything you no longer need or want. The less stuff you have to move, the better! If there is stuff you know you won’t need before the move, like winter clothes or holiday decorations, get those boxed and stored early. Create a plan for each week, so you don’t get caught with everything to do last minute.

2.  Choose a moving date. When planning your move, whether across town or across country, it’s wise to plan ahead with your work schedule and to schedule with a moving company as soon as you know when you can move. Summer tends to be the busiest moving season, so aim for mid-week and mid-month if you can. Weekends and the beginning or end of the month are the busiest times.

3.  Research moving companies. Before scheduling with a moving company, do your research to find one that is professional, reliable and experienced! Ask around for recommendations, and read reviews. Determine if you’ll need full-service, self-service or specialized, depending on what you have to move, how much, and what your budget is. Full-service will handle everything. Self-service handles only transportation. Specialized handles items like antiques, art, pianos, etc.

4.  Consider moving insurance. By law, all moving companies must provide some sort of insurance. Ask your moving company what they offer and what is included in the insurance. Most insurance reimbursement is by weight, so if you have a valuable that doesn’t weigh a lot, that won’t help you much. Consider third-party moving insurance if you have many valuables. Another option, if you don’t have too many valuables, and they aren’t too heavy or large, is to pack them in your own vehicle and transport them yourself.

5.  Budget accordingly. Ask moving companies what they charge, and be sure to ask what is included in that price and what isn’t. Get a not-to-exceed estimate so you know what the max is that you’ll pay. If your belongings weigh less than estimated, you’ll pay less. It’s wise to have a moving company come out and give you an estimate based on your belongings, so you aren’t surprised. Also, don’t forget to tip your movers. It adds up, so best to be prepared!

Good luck planning your move! When ready to buy, sell or both in the North Shore real estate market, I am ready to help! Give me a call, your North Shore real estate agent!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Local Expert... with National Connections!