North Shore Homebuyers: What Not to Do Before Buying a Home

Buying a home on the North Shore is such an exciting time that many get swept up in the thought of moving, decorating and settling into life in a new community. Oftentimes, potential buyers start by browsing properties and moving right into the purchasing process without realizing that there is much preparation involved— months in advance!

Before you meet with a lender and begin shopping for a mortgage, it's time to consider what not to do before you buy a home on Chicago's North Shore. Keep these in mind and your home buying process, coupled with my years of experience, should move along swimmingly this summer:

Keep your credit calm
One of the worst things you can do before buying a home is go credit crazy. Don't purchase all of your furniture until after the closing, do not buy a new car or even boat this summer. Anything being purchased on credit should wait until after your loan closes as these expenses will raise red flags for local lenders.

Keep a paper trail
If you plan to move money around for your down payment, you'll need to keep a paper trail for lenders. The pre-approval process will require them to look deep into your bank statements and accounts and any unusual deposits or withdrawals will require an explanation. Being able to back these up will keep the process moving along.

Do not co-sign on a loan
Even if you'll be pushing off those furniture purchases until after the new home purchase, think twice about co-signing for others. Adding another debt to your credit profile could cause lenders to pause which may not be a risk you want to take this summer. Going to help your child purchase a new car? Just wait until after you buy that new home.

Don't get behind on bills
Of course this is a general rule of thumb, but especially while you're being approved for a mortgage on the North Shore. Just one late payment can tip your credit score in the wrong direction— knocking it as much as 60 points! If that late payment is a mortgage, some lenders will pass altogether!

As your real estate expert in Winnetka, Highland Park, Deerfield, Glencoe and Northbrook, I can share the many ways to prepare yourself for the home buying process this summer. There are many beautiful homes for sale that could be just what you're looking for— let's explore your options together!

I look forward to hearing from you!

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. 

Mortgage Pre-Approval When Purchasing a North Shore Home?

Should I get pre-approved for my mortgage when buying North Shore real estate?

Mortgage Pre-Approval

In today’s market, seeking a pre-approval for a home loan is vital! While the real estate market on Chicago’s North Shore is continuing to improve, lending guidelines are still tight. Having a pre-approval for a mortgage will help to set you apart from other North Shore buyers. Here are 3 things that a mortgage pre-approval will do for you in your home buying process:

1) Establish your price range

By completing the pre-approval process before you begin your search, you will save yourself the time and energy of looking at homes for which you will not qualify. Establishing a price range will allow your realtor to quickly narrow down your options so that you can spend more time focusing on the features that you would like to have in your home.

2) Give you a competitive edge over other buyers.

It is not uncommon for sellers to get multiple offers on their homes. By having a pre-approval for a mortgage, it let’s the seller know that you are serious about purchasing the home and that you are also qualified to do so. If a seller is evaluating offers from a pre-approved buyer and one who is not, the pre-approved buyer will probably win.

3) Streamline your home buying process. 

From the moment that you view your first home through the day that you sign on the dotted line, having a pre-approval can make the process much smoother and less stressful. Once you find the perfect home, you’re not going to want to wait days or weeks to find out if you are approved for a loan while worrying that another buyer is going to come in a scoop it up in the meantime.

Getting a pre-approval for a North Shore home loan can really help to simplify your home buying process. You will have to go through the approval process at some point no matter what, so why not get it out of the way early on? Please contact me if I can be of assistance in buying or selling your North Shore real estate!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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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

North Shore Mortgage Options

Understanding the Different Types of Loans Available When Purchasing a North Shore Home

Home financing can be confusing, and yet it’s one of the most critical part of buying a home if you aren’t paying cash. There are so many different mortgage types out there, it can be difficult to know which one is right for you. As a long-time realtor on Chicago's North Shore, I’ve gained knowledge on many types of home loans. Here’s a rundown of the most common that you’ll encounter.

Fixed-Rate

This is the most common and standard type of mortgage loan. The terms range from 5 to 50 years, but most often a fixed-rate loan is a 30-year term. When you have a fixed rate mortgage, your interest is completely amortized over the term of the loan. Right now, fixed-rate interest rates are particularly low. As of earlier this week, a 30-year fixed loan rate was as low of 4.12%. The beauty of the payment on a fixed-rate mortgage is that it will remain the same for the entire term of the loan.

Interest-Only

This type of loan is not actually “interest-only”. It just allows the borrower the option to make payments in the amount of the monthly interest only for a certain period of time. Typically there is a limit on the amount of time that the borrower has this option, usually the first 5 to 10 years of the loan.  Thereafter, the the full payment including principal must be made for the remainder of the term of the loan. This type of loan can be helpful to first-time buyers, as it does allow for a lower payment if one chooses to make an interest-only payment.

FHA

The Federal Housing Administration (FHA) is a division of the government that insures this type of home loan. By having this government insurance, the lender can require less than a 20% downpayment. Between that and the fact that the credit guidelines are not quite as stringent as a conventional loan, this can be a great option for first-time buyers.  This type of loan, however, does have strict appraisal guidelines.

Adjustable-Rate

There are many varieties of adjustable-rate mortgages (ARMs). Depending on the type, your rate can change monthly, semi-annually, or annual. Some of these loans are fixed for a specific period of time, commonly 2-5 years, and then adjust for the remaining years of the term.  The potentially scary part of this type of loan is the fact that one cannot predict what is going to happen with the economy and interest rates over the next 30 years, so it is possible for your monthly payment to go up significantly upon adjustment.

Combo/Piggyback

Having a combo loan basically means that you have two mortgages paid to two different lenders. This loan is appealing because it can allow for a smaller downpayment and eliminates the need for private mortgage insurance (PMI). Some of these loans will require 5-10% down, while others will require nothing down.

Since most buyers are not able purchase real estate on Chicago’s North Shore with cash, it’s a good idea to research your mortgage options if you’re considering a purchase. While there are numerous of types of loans and even subsets within the list above, chances are that your mortgage will fall into one of these five categories. Deciding which one is right for you will really depend on your credit and personal needs. For more guidance on home financing or for information on real estate on Chicago’s North Shore, please contact me.   I have a passion for North Shore real estate and would be happy to assist you with all of your real estate needs.

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

4 Tips to Prepare Your North Shore Home to Sell!

As a seasoned North Shore real estate professional, I have worked with many sellers to prepare their homes for listing. The first impression your home leaves on buyers is so important!  While thoroughly cleaning your home is the obvious place to start, buyers will see beyond dirty floors and windows.  Here are 4 tips to help make your North Shore home ready for the eyes of buyers.

Start with your exterior.  If buyers like what they see on the outside, they’ll be excited to see the inside.  What impression is the exterior of your home giving?  Is your landscaping fresh?  Is your lawn healthy?  Is your paint or siding showing wear?  Look at your North Shore real estate with a critical eye because buyers most certainly will.  Don’t overspend on your exterior unless necessary, but definitely repair obvious issues.

Organize, organize, organize.  When buyers are viewing your home, they will want to see inside closets, cabinets, and possibly even drawers.  Storage space is important to many buyers, and they're going to want to see how much of it your North Shore home has to offer.  Clean and organize all storage areas.  This may be a good time to purge those items that you’ve been meaning to donate to free up some closet space.  Ensure that your basement and garage are neat and orderly as well.  

Appeal to the Senses:  Bad smells can hinder the sale of a home.  If there is anything in your North Shore home that is creating an unappealing scent, determine the cause and truly eliminate it.  While air fresheners and candles can enhance the buyer experience, don’t use them to simply cover bad smells.  “Floral Litter Box” isn’t a candle scent for a reason.  Common culprits can be water leaks, pets and cooking.   

Your agent knows best:  If your North Shore real estate agent recommends that there are certain belongings you should consider removing prior to showing your home, he or she is trying to make your home appealing to as many buyers as possible.  Depersonalizing your home allows buyers to envision their own belongings in the space.  The more buyers can imagine your North Shore home as their own, the more likely they are to make an offer! 

Taking the time to ready your North Shore real estate for showing can have a definite impact how quickly it sells.  With years of experience, I have developed an eye for what makes a home move in Chicago’s North Shore market.  If you would like assistance in selling or buying in the area, please contact me.  Let my expertise go to work for you! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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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.

5 Things Your North Shore Homeowners Insurance May Not Cover

When you purchase North Shore real estate, your lender requires you to carry adequate homeowners insurance.  Adequate, however, does not mean that your policy will cover every possible scenario that could happen to or in your North Shore home.  Here are a few common exclusions in the average insurance policy.

1. Certain Dog Breeds:  In the instance that your dog attacks someone in your North Shore home, insurance companies generally have a list of breeds that they will not cover.  Some breeds that frequently make the list are Pit Bull and Staffordshire Terriers, Doberman Pinschers, Rottweilers, German Shepherds, Chows, Presa Canarios, Akitas and Wolf-hybrids.  Be sure to check with your company for its complete list before adopting or purchasing a dog.     
2. Termites:  Termite damage is not covered by your policy because it is considered preventable.  This is why it's very important that you have your North Shore home inspected for termites before you purchase it and then regularly once you have moved in.  Termites can cause extensive structural damage that could cost you thousands of dollars out of pocket without early detection.
3. Trampoline and Treehouse Injuries:  Kids love both but insurance companies do not because they are considered high-risk.  Be sure to ask your North Shore insurance agent if these two items are excluded in your policy.  Your health insurance will cover your own child, but you will be personally liable if a playmate gets injured while using an excluded trampoline or treehouse.
4. Earthquakes and Floods:  Mosts acts of nature are covered by your insurance, but a standard policy does not cover damage from earthquakes or floods.  While Chicago’s North Shore does not lie on any major fault lines, heavy rain could definitely lead to flooding.  Beyond just flooding by nature, floods due to backup or overflow of your sewer, drains or sump pump are not covered either.  Earthquake and flood insurances must be purchased separately, and particularly flood insurance should definitely be considered.
5. Expensive Jewelry:  Insurance policies tend to have a limit to the amount that will be paid out on personal property should it be damaged or stolen from your North Shore home.  If you have jewelry, watches or any other personal property of exceptionally high value, it is wise to take out a policy specific to the items to ensure that you will be fully reimbursed if lost, stolen or damaged.

While we all hope that the worst will never happen, it is best to be fully prepared so that an unfortunate event doesn’t become a financial burden as well.  When you are purchasing a home, your insurance agent will be your best resource to fully explain your coverage needs.  Much like the importance of understanding your homeowners insurance, it’s also important to understand the home buying or selling process as well.  If you’re looking for an experienced North Shore realtor to help you do so, please contact me!  I would me glad to assist you in buying or selling a home. 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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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.       

Tips for Making Your North Shore Real Estate More Green!

Earth Day can be an excellent reminder to evaluate your North Shore Real Estate for any potential upgrades that will make it more environmentally friendly.  Beyond just protecting the environment, these improvements can also help you save money and increase the value of your home as well.  As a North Shore Realtor, I come across many buyers today who desire these improvements.  While there are plenty of things you can do to make your North Shore home more green, here are a few that are easy to implement.

Upgrade Your Appliances:  If the time comes when you have to replace one of the appliances in your North Shore home, purchase one with an ENERGY STAR rating.  This rating indicates that the appliance uses 20-30% less energy than the federal limit, and that means reduced electric bills for you.  

Use a Programmable Thermostat:  While many homes already have these thermostats, a lot of Chicago’s North Shore homeowners do not utilize the programmable feature.  In the winter, set your thermostat to a lower temperature while you’re out and higher in the summer.  In the winter, every one-degree reduction will save you approximately 1% over an eight hour period on your energy bill.  While that doesn’t seem like much, a five-degree reduction while you’re at work could really make a difference!

Swap Your Light Bulbs:  Compact fluorescent lamps (CFLs) have become an increasingly popular alternative to the standard incandescent light bulb.  While these bulbs tend to cost a bit more upfront, they will save you money in the log run.  Not only do they last significantly longer than a “regular” light bulb, they also use far less energy.  

Conserve Water:  Consider switching your faucets and shower heads to low-flow replacements.  In addition, you may want to look into upgrading your toilets to low-flow models if your North Shore home doesn’t already have them  Low-flow toilets can save up to 3000 gallons of water per year compared to standard models.

Choose Eco-Friendly Home Improvement Supplies:  With the rise of building “green”, there are now a multitude of sustainable and environmentally friendly options for home improvement supplies.  If you are contemplating a flooring replacement in your North Shore Real Estate, explore the bamboo choices on the market.  Bamboo is available in a wide variety of styles and colors and is a sustainable building material. You can also opt for a more eco-friendly paint that emits less toxic fumes and pollution into the air.  Pick those that are zero- or low-VOC (volatile organic compounds) as a healthier alternative.

This is just a small sampling of the many upgrades you can do to your North Shore home to make it more green and energy efficient.  If you are considering selling your home in the near future, these improvements will be valuable in attracting potential buyers!  Whether you’re looking to buy or sell, please contact me.  It would be my pleasure to assist you with your North Shore Real Estate transaction. 

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.

3 Reasons to Team Up With a North Shore Realtor On YOUR Home Purchase!

As many potential buyers begin to contemplate a home purchase in 2014, it becomes essential to weigh your options and decide if this is something you want to seriously pursue in the new year. If so, teaming up with a reliable, knowledgable North Shore Realtor should be tops on your list of to-dos! While the majority of home searches are conducted online, in the comfort of your own home, there are still many important reasons as to why a real estate professional is imperative for exploring North Shore real estate. Whether you're searching on Chicago's North Shore for a hip high-rise development somewhere in the center of everything or you're more interested in finding a family home in a quiet, safe community, here are just a few ways I can help:

1. Better Access to Listings. Sure, you can surf nearly any nearby listing online, view photos, take visual tours and find out basic information - But very rarely will a homeowner or real estate professional allow you into the home to see it for yourself without a North Shore Realtor at your side. This, of course, is primarily due to safety reasons. However, real estate professionals work for YOU - They can find other homes that meet your strict criteria, make showing appointments at properties that strike your fancy and use their connections to discover what homes may not yet be on the market but are being readied for sale, so their clients can have first crack at them. They can also find out information about a property that might not be as readily available on the internet and call the listing agents to discuss concerns or issues on your behalf. 

2.  Contract Handling and Negotiating. Some might go so far as to say that there is an art form to the many contracts that come with real estate buying and selling. It is essential to keep these documents organized and kept safely, and a real estate professional does just that. Additionally, they negotiate the purchase on your behalf - Anything from price to things that may have come to light during a home inspection. Acting as a liaison between the buyers and sellers, a good North Shore Realtor works alongside their clients to ensure as stress-free of a process as possible. 

3. Those in the Real Estate Business are Held to High Professional Standards. From the National Association of Realtors (R) to local chapters, real estate professionals are held to high ethical standards. This means that not only is it their job to ensure a transaction goes smoothly, it is their duty. As licensed professionals, our very career and livelihood depends on our professional standards and ethics as we are bound by license law. Additionally, many real estate professionals rely on personal recommendations and referrals from past clients - So we want to ensure that every job is one well done! 

If you've been considering talking to a North Shore Realtor this year, I encourage you to contact me. I'm always available to discuss your North Shore real estate needs, from selling to buying. I look forward to working with you and creating a smooth, seamless real estate transaction for all involved. 

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 Market Stats for December 2013

Deerfield Active Listings: There are a total of 62 properties actively on the market with the average price of $684,428 in Deerfield.

Deerfield Sold Listings: 38 properties closed last month in Deerfield with an average sales price of $506,760, the average time on market for these properties was 34 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.

New Year's Goals for Your North Shore Real Estate!

With 2014 officially here and many of us living on the North Shore and beyond setting our New Year's resolutions, now is a great time to take stock of where you're at with your real estate situation and create attainable goals for all of your affairs related to home ownership. Whether you were recently buying North Shore real estate or you are a longtime resident, performing a New Year's evaluation of your home, financials and insurance will certainly benefit you in the long run. Here are a few points to consider:

-Review your homeowner's insurance policy. There are a wide variety of insurance options available on Chicago's North Shore, from local agents with national companies to individual brokers. Double-checking your coverage limits, deductibles and policy details will prepare you for the coming year and ensure that you have enough insurance to repair or replace your North Shore real estate should an emergency arise. You may also want to consider adding flood insurance, personal property and/or contents insurance or additional structure insurance to your policy as well. 

-Budget for pre-payments. If the monthly mortgage payment on your North Shore real estate is low and you can afford to budget extra money each month to be paid toward the principal balance, now is an excellent time to calculate that. Take each month of the upcoming year into consideration and decide how much extra you plan to put toward the remaining balance to pay it down faster and easier. Doing this on a consistent basis each year can pay off handsomely in the long run by subtracting years off of your mortgage. 

-Take on a proactive attitude with maintenance. One of the great things about living on the North Shore are our beautiful homes in well-maintained communities. Starting the year by taking a proactive attitude toward routine home maintenance and necessary repairs will help you to budget for these expenses, prepare your property and ensure that your investment is in well-kept, safe and livable condition. Additionally, avoiding maintenance and repair issues will only make things much more difficult and costly in the long run as they can quickly spiral into larger, more complex projects. 

As a longtime North Shore Realtor, I am here for you both prior to and during your real estate transaction as well as afterward. Should you have any questions regarding your North Shore real estate or if you're considering buying or selling in the new year, contact me for professional expertise. I look forward to hearing from you soon and discussing your needs on Chicago's North Shore. 

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.

5 Benefits of Buying a North Shore Home During the Holiday Season!

With Thanksgiving just around the corner, many of us are anticipating the festive holiday season!  It’s hard to believe that soon this year will be coming to a close, yet there’s still time to jump into the North Shore Real Estate market if you’re hoping to buy a North Shore home before the end of the year!

Buyers oftentimes will feel that their best bet is to hold off until the spring because of the holiday season.  However, there are those that find themselves needing to purchase a North Shore home now and, in fact, it can be a great time to do so!

Here are a few of the perks of buying a North Shore home during the holidays!

1. Lower Pricing- 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, www.JanieBress.com, 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.

Hopefully these perks will help you take the next step in your North Shore home search this holiday season! 

I’m always available to answer your questions and, as an experienced North Shore Real Estate agent, can walk you through the home buying process with ease!  Contact me today to get started!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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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.

Fun Halloween Events This Weekend on the North Shore!

It’s hard to believe we’re nearing the end of October and that the fall season is in full swing here on Chicago’s North Shore!  In living and working on the North Shore for a number of years, I know autumn has such a vibrant way of making you feel right at home in Deerfield, Glencoe, Winnetka, Northbrook or Highland Park.

These communities are each unique and provide an excellent lifestyle for residents.  My work as a North Shore Real Estate agent has me very involved within these towns and what’s happening.  I love being able to share with potential buyers what makes each area unique and helping them determine which community best fits their needs.

Whether you’re considering moving to the North Shore, have recently moved or are a long time resident; there are a few events taking place this weekend just in time for Halloween that you won’t want to miss!

Trick or Treating in Downtown Highland Park

Thursday, October 24th from 3-5pm

- Head to Downtown Highland Park this Thursday for a special night of Trick-or-Treating!  Retailers throughout the central business district of Downtown Highland Park will be handing out candy to costumed kids trick or treating from 3:00 to 5:00 pm as a fun and safe way to celebrate Halloween. Enjoy the festive hocus pocus and treats while shopping through the 130+ retail locations in Downtown Highland Park!

The fun continues in Port Clinton Square from 3-6pm where families can enjoy live music, hayrides, pony rides and train rides for children. In addition, Renaissance Place will be hosting a number of exciting Halloween-themed activities. Enjoy a photo booth, cotton candy, tattoos, a DJ, and street entertainers. For more information on this festive evening, visit the Downtown Highland Park website.  

Downtown Trick or Treat
Downtown Deerfield

Saturday, October 26, 2013, 12:00 PM

- Don’t miss the Downtown Trick or Treat this Saturday in Deerfield!  Shops in Downtown Deerfield that feature an orange pumpkin sign in their windows have treats on hand for kids to enjoy!  This is a fun and safe way to go trick or treating while also getting to know local businesses!  For a full listing of participating merchants, you can visit the Deerfield Chamber of Commerce website. 

Halloween Hound Parade!
Deerfield Square

Saturday, October 26, 2013, 2:00 PM

Come visit our Halloween Hound Parade!

- Do you have a pet that loves getting dressed up for Halloween?  You’ll want to be a part of the Halloween Hound Parade this Saturday in Deerfield Square!  All pets are welcome and are eligible to receive a prize from Whole Foods for Best Costume.  Even if you don’t have a pet, you’ll enjoy seeing the creative costumes on these adorable pets!  This event is sponsored by the DBR Chamber of Commerce and Whole Foods Market in Deerfield.  For more information, please contact the Chamber at 847-945-4660.

2nd Annual Northbrook Court Halloween Party
Northbrook Court Stores (Lower Level Near Macy’s)
2171 Northbrook Court, Northbrook

Saturday, October 26, 2013, 2:00 PM

- Enjoy complimentary treats and activities this Saturday at the 2nd Annual Northbrook Court Halloween Party!  You’ll have a chance to make Halloween arts and crafts and even learn the choreography to Michael Jackson’s song “Thriller.”  Kids will also be invited on stage for a Costume Contest where all participants and winners will receive a prize from favorite Northbrook stores!   Learn more about this fun event on the Northbrook Court website.  

I hope you’re able to get out in the community and celebrate this candy-filled holiday!

If you are considering moving to the North Shore and would like more information on the North Shore Real Estate market; please feel free to contact me today!  

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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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.

Move-Up Home Buyers On The Rise!

As a North Shore Real Estate agent, I’ve been encouraged by the North Shore Real Estate market this year.  As a whole, the nation is experiencing a resurgence of activity on the market and an uptick in sales, and the same goes for Winnetka, Deerfield, Northbrook, Glencoe and Highland Park! 

As mortgage rates continue to increase, buyers are seeing this as an opportune time to buy and are on the hunt for their dream home on the North Shore this fall.  In fact, now is a great time for move-up buyers!  Those that felt stuck during the economic downturn are finding that, because of the increase in home prices, now is a great time to sell and finally move into their ideal home or location.  

According to recent data from real estate website, RealtyTrac, 40% of all homeowners now have at least 20% equity.  This is due to the significant increase in home prices during the first seven months of 2013, which has been the fastest increase since 2004.  That means those who once felt they had no where to go with their current home can now easily jump back into the real estate market!  

Market statistics from the National Association of Realtors are showing that, although first time home buyers percentages have dropped; sales have surged proving that second and multiple time home buyers are finding the market is prime for moving up!  Nationally, sellers are finding it easier to sell due to a more limited inventory, which means move-up buyers will need to act quickly if they find a home they love.  

Fortunately for us along the North Shore, there are a number of beautiful homes on the North Shore Real Estate market that are ideal for the move-up buyer! 

This trend is also creating a broader inventory for first time home buyers who are looking for a great starter home.  All in all, these are continued signs of how the national housing market is improving and why now can be an excellent time to jump into the real estate market on the North Shore!

If you’d like to learn more about North Shore homes currently on the market, or have questions about buying or selling your home; please don’t hesitate to contact me today!

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.

5 Key Aspects to Consider When Buying a North Shore Home This Fall

Buying a North Shore home in the fall can be a very exciting time as the backdrop of changing leaves and cooling temperatures beckon us all to spend more time indoors.  

However, you may be wondering if now is a good time to buy.  The busy spring and summer markets have ended, and thoughts of not being able to find the right home with more limited inventory have you second guessing your decision.

As a North Shore Real Estate agent, I can attest that the fall can really provide some home buying perks!  First of all, you’ll find you have less competition when looking at North Shore homes.  Secondly, sellers tend to be more willing to negotiate price and work within your timeline because they’re hoping to have their home sold before the holiday season.

If you are planning on moving forward with the home buying process this fall, you’ll want to be sure to be as prepared as possible!  This means having your financing in order, as well as making a list of wants and needs; which will help you narrow down your search.  Below I’ve listed five other key aspects you’ll want to look for when buying a North Shore home.  Take a look!

1. Layout and Space-  Know your goals for the home, whether it’s a long term home or a home that you’ll use for hosting family and friends. Floor plan, along with the number of bedrooms and bathrooms, play a role in how comfortable and efficient your home is for you.  Although you want the most space for your money, buying a home that’s too large may not be in your best interest.

2. Location- It’s often said that location is key, and that’s very true!  You can always make changes to the interior and exterior of your home, making it look exactly as you would like, but you cannot move your home to a new location. Be sure that the location you choose matches your desires for things such schools, work, daily errands and community.  A home that’s a good price, but is not in the community that fits you best may not be the home for you.

3. Kitchen- For many, the kitchen is the “heart of the home” so you want to know you enjoy the space! Remodeling is always an option, but is a huge undertaking and can become very costly.  Determine what projects you’re willing to undertake and the costs associated with the remodel. 

4. Closets and Storage- Not having enough closets and storage can be a huge point of frustration in a home.  Be sure to check closets and storage options in a potential home.  It will make life much easier in the long run.

5. Finishes- Look at those special details that make the home stand out. While this is minor, it is still what makes a home feel pulled together. If you absolutely love the home, but aren’t keen on the finishes; buy it. You can always make additional updates later!

Thinking through these features in a home will really help you hone in on what North Shore home will work best for you!

If you’d like to begin your North Shore home search, or are interested in learning more about the current North Shore Real Estate market, please contact me today!

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.

Prepare Your North Shore Home for Fall with These 7 Tips!

Although it feels like summer is still hanging on here on Chicago’s North Shore, the beautiful, crisp fall season will be here before we know it!  Autumn is always a picturesque time of year on the North Shore, and for those of you spending your first fall season here; you’re sure to enjoy the vivid colors of the trees and the bright blue skies.

As one who’s lived and worked as a real estate agent on the North Shore for a number of years, I know it’s a favorite season for many.  And, while my goal as a North Shore Real Estate agent is to help buyers and sellers navigate the real estate market, I also want to ensure that, as a resident of Highland Park, Deerfield, Northbrook, Glencoe or Winnetka, you can thoroughly enjoy your current North Shore home this fall.

Having your home prepped for the coming cold weather season now can help you rest at ease and enjoy the festivities of fall.  Below are seven tips for getting your North Shore home ready for the changing season! 

1. Caulk exterior- Think of caulk as weatherstripping in a tube. Any gap on the outside of your home can be a candidate for caulking. Look at transition spots: corners, windows, doors, areas where masonry joins siding, or places where vents and other objects protrude from walls. Carefully read manufacturer's directions to make sure the caulk you buy will work where you plan to use it, and don't forget to purchase a caulking gun. Early fall is a good time for this task because caulk becomes difficult to apply when the temperature falls.

2. Add weatherstripping to doors and windows- Weatherstripping can be plastic, foam, felt or metal; its job is to seal small gaps, keeping moisture and cold air outside where they belong. Newer, energy-efficient windows generally don't require added weatherstripping, but if your windows are older, weatherstripping can keep drafts at bay and energy costs down.

3. Insulation speculation- This is a good time to check the condition of insulation and see if you need more, especially if you live in an older North Shore home. you can purchase un-backed or loose-fill insulation if you are just beefing up what is already there. If your walls lack insulation, consider having a professional install blown-in insulation foam. The energy savings will probably offset the cost of the procedure in a couple of years.

4. Check storm windows- If you have storm windows that are cracked or dirty, repair and clean them now; prior to autumn installation.

5. Check gutters- Do a quick visual check to make sure gutters are clear; they'll be performing double duty soon with rainstorms and falling leaves.

6. Inspect your roof and chimney- If your roof isn't too steep, and isn't covered with slate or tile, you may be able to carefully walk on it on a dry day. Look for broken or missing shingles, missing or damaged flashing and seals around vent pipes and chimneys, and damage to boards along the eaves. Also peer down your chimney with a flashlight to make sure no animals have set up house in it. If you can't get on your roof, perform this inspection with a ladder around the perimeter. Some patches and roofing cement now can prevent thousands of dollars of water damage later in the winter.

7. Keep mice out- The fall inspires nesting in mice as well as humans. Mice are looking for a winter home now, and that newly insulated attic would be just the spot. Mice can squeeze through 1/4-inch openings. Make sure all exterior vents are screened, and that there are no gaps underneath garage doors.

Hopefully these tips will help you prepare your North Shore home for fall so you can sit back and enjoy all that the season has to offer!

If you don’t currently live on the North Shore, but have been considering moving to the area; please let me know!  I would be happy to talk with you about your needs, wants and budget for your new home!

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.

North Shore Home Affordability on the Decline- Why NOW is an Ideal Time to Buy!

Buying a home on Chicago’s North Shore this fall can be an exciting time as you dream of settling into your new abode in Winnetka, Glencoe, Northbrook, Highland Park, Deerfield, or any of the other charming North Shore communities.  It can also be the ideal time to jump in to the North Shore Real Estate market!  Oftentimes, sellers are eager to get their home sold before the holiday season hits, and so are more willing to work with buyers’ needs as far as closing dates and costs.  

If you are considering buying a North Shore home this fall, there’s something you’ll want to be aware of before you begin your search.  The nation is seeing a decline in affordability. 

The North Shore saw a leap in sales figures of homes sold in the month of June.  Across Illinois, home sales increased 14.9% over previous-year levels in June and median prices increased 9.7%.  These figures show that the housing market is continuing its resurgence and marks the 24 consecutive months of year-over-year sales increases in the North Shore- Chicago area. 

David Crowe, the NAHB’s chief economist, noted that, “Rising home prices signal the improving health in housing markets, and the median price of all new and existing U.S. homes sold in this year’s second quarter, at $202,000, was well ahead of the second quarter 2012 median price of $185,000.”  He went on to say that, “Together with rising mortgage rates, this contributed to affordability slipping to the lowest level in more than four years.”

So, what determines a homes’ affordability?  The two major factors are listing price and mortgage rates.  

As we’ve seen this year, the demand has been greater than the supply, which is allowing sellers to raise the price of their home. Home prices are on the rise throughout the North Shore and across the country.  While this is a good sign of a healing real estate market, it makes competition between buyers a little more stiff.  You may have to be prepared to pay a little more on a home you love to avoid being outbid.

The second factor is mortgage rates.  Even if home prices do eventually level out, the rise in mortgage rates doesn’t appear to be slowing down anytime soon.

A recent report from a Freddie Mac Primary Mortgage Market Survey noted interest rates on 30 year fixed rate loans were at record lows at 3.5 percent at this time last year and even went as low as 3.31 percent last November.

These historic lows, however, have recently started to climb and have jumped up to more than 4.5 percent, which hasn’t been seen in over two years!  The survey went on to point out that at the end of June of this year, rates jumped almost .5 percent which posed the largest week-over-week increase in more than a quarter century.

If you’ve been casually looking at North Shore homes online, you may want to consider taking the plunge sooner rather than later!

As a North Shore Real Estate agent, I would be happy to sit down and talk with you about your real estate needs, timeline and budget.  There are a number of beautiful homes on the North Shore Real Estate market and I would love to help you find the home of your dreams!

Contact me today to get started! 

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.