What are Closing Costs on Chicago's North Shore?

It may seem surprising, but did you know that the majority of homebuyers today aren't aware of closing costs? You may find that you have prepared for homeownership with your down payment and even have your first month's mortgage ready in your bank account, but this very important set of costs is commonly overlooked. 

As your local real estate agent on Chicago's North Shore, I've included a few key notes on closing costs below so you are better equipped to make the biggest, most important purchase of your life!

What Are Closing Costs?

Closing costs are recurring and non-recurring fees connected to both your lender and other parties in the sale—for instance, an attorney, inspector and title company—and are to be paid upfront at the closing table. Unless you have financed them ahead of time or worked your offer to arrange for the seller to pick up the tab, unfortunately there is no way around these costs.

Closing costs typically include:

• Homeowners insurance
• Title insurance
• Loan origination
• Home inspection
• Appraisal
• Document prep
• Property line survey
• Title search and recording
• Loan underwriting
• Wire transfer

How Much Will They Cost?

Closing costs tend to range between two and five percent of the total purchase price of the home. 

How Can You Prepare?

It is true that you may not know how much you will owe in closing costs until you find a home in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, Lake Forest, Wilmette, Evanston, Glenview, Riverwoods, Bannockburn, or other North Shore communities and meet with a lender, but you can still gather a general idea based on your price range alone. For instance, with a budget for a new home around $150,000, you can expect to pay between $3,000 and $7,500 in closing costs.

Once you've met with your lender on the North Shore, you can estimate how much you will owe in closing costs given your loan product, loan amount and the interest rate you are offered. You can use a mortgage calculator to estimate your monthly payment and how that will fluctuate depending on if you've decided to finance the closing costs into it. 

Give me a call today to get started on your North Shore home search or with any questions you have about buying a home in today's market.

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

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5 New Year's Resolutions to Make as a North Shore Homebuyer

Have you sat down and made a list of your new year's resolutions yet? It's always a fun exercise to take stock of your goals for the year ahead and make a plan on how to achieve them. For many on Chicago's North Shore, you might find that they are personal or health related, but one of them might be buying a home!

There are dozens of steps to take to successfully become a homeowner in 2019 and as your local North Shore real estate expert, I am happy to help you make that a reality! Below are 5 new year's resolutions to make in order to buy a home in the new year:

Eliminate indulgences
It might not be your favorite path to homeownership, but cutting indulgences can be a quick and simple way to save for a down payment. For instance, could you stand to cut cable and instead use Netflix? Or on the same note, is there a streaming service you could cancel? You might want to cut dining out and your morning coffee runs, instead packing your lunch and brewing coffee at home. These little indulgences can mean big savings if they're avoided!

Start a home savings account
You can't save specifically for your home if you don't have anywhere for it to go! Open a savings account specifically for your new home. Get into the habit of making weekly or monthly deposits—whatever you can afford—and watch your down payment grow!

Do a mortgage test run
The only way to truly know if you can swing being a homeowner in Glencoe, Highland Park, Deerfield, Winnetka, Northbrook, Evanston, Lake Forest, Wilmette, and the surrounding areas, is to do a test run. Try saving like a homeowner—meaning you set aside your monthly housing expenses and an amount for your emergency fund—and see if you can live with your new budget. 10% of your mortgage payment is a good rule of thumb to account for maintenance fees, so start there.

Pay all bills on time
There is nothing that can raise a red flag quicker to a lender than unpaid bills. If you intend to get approved for a mortgage in 2019, it is best to make sure you pay all of your bills on time. Not only does this keep your credit score high, but it shows lenders you are capable of managing a monthly payment.

Visit open houses
This may seem counterintuitive if you're not yet ready to buy a home on the North Shore, but attending open houses allows you to see what properties are available in your price range. This gives you a more realistic approach to the market and could even motivate you to save more!

Ready to make your dream of owning a home a reality this year? Give me a call today!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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What You Should Know Before Refinancing Your North Shore Home

The idea of cutting your monthly mortgage payment down by refinancing your loan may sound intriguing to you as a homeowner on Chicago's North Shore, but there is much more to consider before diving in. In fact, there are cases in which refinancing does not truly pay off for the homeowner. But don't worry! As your local North Shore real estate expert, you can count on me to help you make the best decision for your situation.

Below are four factors to consider before making the decision to refinance your mortgage:

Refinancing is not free
Just as you likely paid some closing costs when you purchased your home in Northbrook, Winnetka, Evanston, Highland Park, Deerfield, Glencoe, Lake Forest, Wilmette, Glenview, Riverwoods, Bannockburn, and the surrounding areas, you will be required to again with refinancing. Closing costs are typically 2 to 5 percent of your loan amount and will need to be paid up front when you refinance. While your lender may offer a no closing costs refinance, be aware that it may come packaged with a higher interest rate. It's always wise to consider all of your options!

The savings should pay off quickly
When deciding if a refinance is right for you and your North Shore home, you need to look at the savings. Refinancing makes the most sense when your interest rate is more than 100 points above the current interest rates. The savings from your refinance should also recoup itself in under two years. For example, if your refinance cost you $2,800 and you end up saving $179 per month, the savings would be recouped in 15 months. It pays to crunch the numbers!

You may be able to cancel PMI
As we've talked about in the past, private mortgage insurance (PMI) is required for buyers that put down less than 20 percent on their new home. However, if you've gained enough equity in your home over the past years, a refinance may mean you're able to cancel your PMI. Just remember the loan balance needs to be 80 percent or less of your home's value.

Refinancing resets your loan
Perhaps one of the most important factors to consider is that a refinance is essentially hitting the reset button on your home loan. If you've had your loan for many years and have reached the point where you're paying down the principal instead of interest, refinancing may not be the best idea as you will likely reverse this dynamic.

Whether you're ready to tackle the home selling process on Chicago's North Shore or are simply looking to refinance to save a bit more each month, I am here to help! You can call on me to provide everything from a list of available North Shore homes to home seller tips and lender recommendations.

I look forward to hearing from you in 2019!

Janie Bress
Your North Shore Real Estate Expert

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

What Not to Do When Buying a North Shore Home

Buying a home on Chicago's North Shore can be an overwhelming decision, especially if it's your first time navigating the real estate market. And since this is likely the largest purchase you will ever make, it's important that you try to avoid the common mistakes that homebuyers have encountered before you. That's where I come in! I have included a list below of five things not to do when buying a home in Glencoe, Highland Park, Northbrook, Deerfield, and Winnetka, so you can enjoy a smooth process and settle into your new home with no worries!

Don't shop without an agent
Navigating the real estate market can be tricky, so why go it alone? Let me be your guide to homes for sale on the North Shore! You will want an agent who has your best interests in mind, who knows the in's and out's of the market, and has the knowledge of the industry to find you the best home, at the best possible price, in the most efficient amount of time. Buying a home can be a full-time job in itself if you consider all of the parties involved in the transaction, so it never hurts to leave it to the pros!

Don't ignore your budget
One of the worst things you can do when shopping for homes in Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield is ignoring your budget and looking at homes you cannot afford. Not only does this waste your time and your agent's time, but it gives you unrealistic expectations. First you'll need to get pre-approved with a lender, then move on to your home search when you know exactly how much home you can afford. When you know what your budget is, stick to it! You won't be disappointed down the road.

Don't meet with just one lender
In order to get pre-approved for a home loan, you'll need to meet with a lender. You will provide documentation such as tax returns, income statements, and proof of funds for your downpayment before you go move forward with the buying process. While it may seem like a lot of work on your end to provide the necessary paperwork, in this case, it pays to meet with more than one lender. Gather at least three different quotes from lenders before you decide on the best loan for you.

Don't ignore closing costs
Did you know that the majority of homebuyers today aren't aware of closing costs? Now is the time to research how much you may owe at closing, which could be anywhere from one to seven percent of the purchase price of the home. You'll want to be aware of these additional costs or you could risk being blindsided before you can get your keys.

Don't make unreasonable lowball offers
Every North Shore homebuyer wants to get a great deal on a property, but that does not mean you should make the lowest offer possible. Not only will your offer likely be outbid by someone else, but the seller may not even counter yours back. According to real estate industry resource Inman, the third largest mistake people make when buying a home is offering too little for a property.

Give me a call today for a list of available homes in Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield! I'm here to walk you through the entire buying process in 2019!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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How to Buy a North Shore Home Before the Holidays

Tis the season for holiday chaos— festive gatherings, tree trimming, traveling to visit with friends and family near and far. Probably the last thing on your mind this time of year is whether or not to buy a new North Shore home and settle in before the new year. But don't be so quick to write off the task! Buying a new home in Glencoe, Northbrook, Winnetka, Highland Park, or Deerfield is indeed possible— you just need an expert agent a handful of tips to get the job done!

Below are four tips to help you buy a North Shore home before the holidays:

Get pre-approved
You never want to begin your home search by touring homes that are outside of your budget. Instead, take the time to get pre-approved with a mortgage lender so you know exactly how much home you can afford, as well as whether or not you even qualify to make the purchase.

Find an expert agent
Your real estate agent should know the market well, as well as have a large network and know how to leverage technology to get the job done. For instance, when you have a specific timeline in mind to buy a home, your agent should know exactly which local professionals to bring in to complete the transaction, from the lender to the inspector.

Sort your documents
A successful homebuyer is an organized homebuyer! Keep all of your documents organized in a folder designated solely for your home purchase. Put together all of the documents you will need to buy a home— tax returns from the past two years, W2's or pay stubs, as well as two months worth of bank statements from all accounts. This will speed up the process when the documents are needed!

Keep everyone on track
If you're under contract to buy a home on Chicago's North Shore, you will want to stay on top of everyone to keep the transaction moving. When you work with the right real estate agent, they should play an important role in this as well. There is a lot of down time considering all of the parties involved in the transaction and it can be a while before someone gets the document they need or answers a question. If you haven't heard back in a timely manner, always check in!

We're wrapping up 2018, but that doesn't mean you have to wait any longer to buy a new home in Glencoe, Northbrook, Winnetka, Highland Park, or Deerfield! Give me a call today for more information about available properties and getting started on your home search or home sale!

I look foward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Celebrate the Holidays with These North Shore Events!

After all of the turkey is put away, it's time to deck the halls for the holidays and better yet, make plans for painting the town red (and green!) with all of the festive events popping up on Chicago's North Shore. I've highlighted several of the holiday happenings in December so you can take advantage of all that Glencoe, Northbrook, Highland Park, Deerfield, and Winnetka have to offer!

Breakfast with Santa
December 1, 2018
Maggiano's Little Italy
Skokie IL

Annual Holiday Open House
December 2, 2018
Evanston History Center at the Charles Gates Dawes House
Evanston IL

Frances Willard Holiday House Tour
December 2, 2018
Frances Willard House Museum
Evanston IL

Red Invitation Sunday Holiday Sale
December 2, 2018
Varying merchants in Winnetka
Winnetka IL

Sunday Brunch with Santa
December 2, 2018
Pinstripes
Northbrook IL

Holiday Cheers
December 5, 2018
Chicago Botanic Garden
Glencoe IL

Downtown Evanston Tree Lighting
December 8, 2018
Fountain Square
Evanston IL

It's a Wonderful Life— Live Radio Play
Through December 30, 2018
Oil Lamp Theater
Glenview IL

Wonderland Express
Through January 6, 2019
Chicago Botanic Garden
Glencoe IL

Ready to call the North Shore your home? Or ready to move on to a new home for the new year? Give me a call today! I'd be happy to help you find the perfect home for you and your family in Glencoe, Northbrook, Highland Park, Deerfield, Winnetka, or beyond.

Have a happy holiday season!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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5 Signs It's Time to Sell Your North Shore Home

Every North Shore homeowner's reason for selling their property will be different, but there are a few significant signs that will ultimately show you it's time to move on. Perhaps you've outgrown the space or your job is taking you to a different Chicago area community— regardless of the reasoning, you can count on me to help you through the process!

Below are five signs it's time to sell your Glencoe, Winnetka, Highland Park, Deerfield, or Northbrook home and move on:

Your costs are too high
Not all homeowners on Chicago's North Shore are prepared for the costs that come with managing a property. If you find yourself in this position and need to reduce your monthly maintenance costs or mortgage payment, it is likely time to list your home and find a property better suited to your financial situation.

You've outgrown the home
If your family is growing (or for empty-nesters, the opposite), but your home is not, that is a great sign you're ready to sell and move on! Whether you're looking for a larger home or one with fewer bedrooms as your children fly the coop, you can count on me to provide a list of available properties that fit the bill.

The market is booming
Sellers still have an edge in today's real estate market, so why not take advantage? Especially if buyer demand continues to increase and you have built up equity in your property, chances are great that you will be able to find a buyer quickly and settle into your next dream home ASAP.

Your value is favorable
As I mentioned earlier, it may be time to move on if market conditions are favorable and you've built up equity in your home. You may even notice that your neighbor got a great price for their home and you'd like to sell and reap the same rewards!

You've been in the home five years
It is often recommended that homeowners stay in their property at least five years to allow themselves to build equity. After all, when you begin paying your mortgage, the first payments are almost always all interest. Unless you have an urgent need to move, consider staying put for five years and then make your decision.

Curious about your home value or have questions about getting the listing process started? Give me a call today! I'm happy to help just as I have with numerous other North Shore homeowners!

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!

5 Things in Your North Shore Home That Could Turn Buyers Away

As I explained in my last blog post, selling your North Shore home during the fall and winter months can be just as lucrative as selling during the spring and summer! But remember, that's only if your home is prepared for the market! There are many ways to spruce up your Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield home before listing— including removing these common items that have been known to turn buyers away!

Below are five items to consider removing from your North Shore home before listing your property:

Collectibles
Whether you collect stamps or figurines, it may be best to keep them stored away while you're selling your home. Many collections on display in properties can read as clutter to buyers and turn them off of your home. Even if they're just dog accessories, it's best to keep them in storage during this time.

Odors
Food or pet-related odors are one of the quickest ways to send a buyer running out the door. Smells can be the breaking point for buyers, so it's best to be aware of what you're cooking before a showing or if there are any pet odors that need addressing before buyers arrive. It's also best to stay away from strong scented candles as not all buyers will love the same aromas you do.

Pet Damage
You love your pets, of course, but remember that not all buyers are pet people. If your floors are scratched from pet claws or there are stains on your carpet, consider having them re-finished or professionally cleaned or replaced prior to listing your property.

Personal Photos
Have you heard that de-personalizing a home can help it sell? It's true! Buyers want to envision themselves living in the home which can be hard to do when your wedding photos are on the wall. Try to store your personal photos prior to buyers arriving for a showing just to give you that edge over other sellers.

Bugs
Have you spotted ladybugs in the window sills of your North Shore home? Remove them! Bugs can be an easy turn-off for buyers who will get the feeling that the home is not well cared for or clean enough for them to move in.

Need more ideas on how to prepare your Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield home for the market? Curious about your home value? Give me a call today! I'm happy to answer your questions!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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How to Sell Your North Shore Home During the Holidays

When the busy spring and summer months are over, many North Shore homeowners are left wondering if they can still sell their properties before the end of the year. While it may seem like the market slows down, the short answer is yes! Buyers today are constantly searching for properties on their smartphones, computers, and even have email alerts set up when a new North Shore property becomes available that meets their criteria.

Selling your Glencoe, Winnetka, Highland Park, Northbrook, or Deerfield home during the holiday season is still a great idea and as your local real estate expert, I'm sharing a few ways below to achieve that successful sale!

Keep holiday decor simple
Don't be tempted to install an inflatable snowman on your front lawn! It's best to keep holiday decor simple—staying away from large yard ornaments—outside in order to avoid distracting buyers from the property itself.

Highlight holiday features
Does your home have a great picture window? A cozy fireplace? An inviting dining room? These are all great features to play up during this time of year. Allow buyers to envision themselves entertaining in your home by staging it for the season. Position your Christmas tree in front of the window, light a fire when buyers arrive for a showing, and set the table to let buyers imagine hosting friends and family.

Groom online appeal
The first place buyers will look for homes this time of year is online. Be sure that your listing photos are clear and present your home in its best possible light. When you work with me, you can rest assured your property will have a great online presence and pique buyer interest from the very beginning!

Enhance curb appeal
Your home's exterior is often what will get buyers to the front door, so make sure it feels inviting! Clean your gutters, clear all pathways of debris, touch up the paint, tidy up your yard, and consider adding a wreath to the front door.

Get move-in ready
Since the holiday season can already be stressful, you don't want to make moving into your home another cause for buyer concern. Now is the time to fix any issues that you know exist in your property, especially HVAC as it is imperative that this system be in working order during the colder months! Buyer will be more willing to move into your home if they know they won't run into any problems after closing!

Ready to move into a new North Shore home before the new year? Give me a call today to get started on listing your current property and finding your next dream home!

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.

Boo! 6 Halloween Events on Chicago's North Shore

Halloween is almost here on Chicago's North Shore! It's time to plan your costume, carve a pumpkin, and outfit your Glencoe, Winnetka, Highland Park, Deerfield, or Northbrook home in the spookiest decor. But once all of those festive activities are checked off of your list, you'll be ready for some bewitchingly fun events and I've rounded up a few below!

Add the following 6 Halloween Events on Chicago's North Shore to your calendar:

5th Annual Zombie Scramble
Evanston Ecology Center
Evanston IL

Run with your friends and finish with your "lives" (or flag football flags worn around your waist) intact! Zombies will be placed along the course to try to grab your flags!

Spooktacular Halloween Party
October 21, 2018
North Suburban YMCA
Northbrook IL

Enjoy a bounce house, costume contest, pony rides, haunted maze, paint pumpkins, and so much more! All ages are welcome at this North Shore event!

BOOnanza
Wheeling Community Recreation Center
Wheeling IL

Decorate a pumpkin, make crafts, listen to spooky stories, go for a hayride, and watch a magic show! Children 10 years of age and younger encouraged for this FREE event!

Dave Rudolf's Halloween Spooktacular
October 26, 2018
Winnetka Community House
Winnetka IL

Your little ghouls and goblins, no matter their age, are invited to this fun event with songs, stories, and costumes galore! $10 in advance, $15 at the door.

Halloween in Downtown Skokie
October 27, 2018
Start at Crafty Beaver Lumber
Skokie IL

Kids 12 and younger are welcome to participate in trick or treating downtown Skokie! Just pick up your bag at Crafty Beaver and be on your way!

Night of 1,000 Jack-O-Lanterns
October 24-28, 2018
Chicago Botanic Garden
Glencoe IL

Pumpkins as large as 150 pounds will light up the night at the Chicago Botanic Garden! Artists spend hours decorating a single pumpkin to be staged along a festive pathway, so come enjoy a spooky walk, watching live carvings, view the ghostly trains in the Model Railroad Garden, drink cider, and more!

Ready to call the North Shore your home? Contact me today for more information about Northbrook, Highland Park, Deerfield, Winnetka, or Glencoe homes for sale.

I look forward to hearing from you! Happy Halloween!

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 Questions to Ask Your North Shore Home Inspector

In a past blog post, I've shared 4 Red Flags Your Home Inspection Could Miss and now it's on to another important inspection topic— questions to ask! Once you've gone over the report, you will likely have dozens of questions about the items listed which can leave you feeling uneasy about your future purchase. Be sure to note the four questions below to help you calm your homebuyer nerves after the inspection!

What is this item?
If you're unclear about an item listed in the inspection report, do not hesitate to ask your inspector! For instance, if there is a defect in the electrical system that you don't understand, ask exactly what needs to be fixed and how serious it is. You should never be afraid to ask for clarification about the items found in the report.

Is this serious?
When you look over the report, you will notice many minor issues, but not all will need to be addressed immediately. Ask your inspector if any major problems came up and what needs to be remedied now. You should be fully aware of the major issues before buying a North Shore home!

Should I make a follow-up?
Your Glencoe, Highland Park, Deerfield, Northbrook, and Winnetka inspector will be knowledgable, but he may also refer you to another expert like an electrician or plumber for a closer look at a problem. If he flags something in the report like this that needs further inspection, ask him if you need to make a follow-up with another expert.

What needs to be done after the purchase?
Remember that if you don't ask the seller to make certain repairs, they are now on your plate! Ask the inspector what needs to be fixed after you move-in, or in other words what you don't need to ask the seller for and what can wait. You will still want to stay on top of these repairs in case it will be something isn't functioning properly when you step in the door!

Ready to start the home buying process or have more questions for a real estate expert in Glencoe, Highland Park, Deerfield, Northbrook, or Winnetka? Give me a call 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. 

Janie Bress Named 2018 Five Star Real Estate Agent

I am thrilled to share that I have won the 2018 Five Star Real Estate Agent Award!



Five Star Real Estate Agents represent those who are outstanding in their field. Winning agents are selected as a result of a rigorous and objective research process. For any market, each year's field of winners represents no more than 7% of agents within the market.

My Five Star designation allows buyers and sellers on Chicago's North Shore—just like you—to choose a professional that others recommend for exceptional client satisfaction and service.

If you're looking for a real estate expert on Chicago's North Shore in Northbrook, Highland Park, Glencoe, Deerfield, Winnetka, or beyond, do not hesitate to contact me! As a Five Star agent, you can rest assured that you are working with a top tier professional dedicated to serving your specific needs in the real estate market!

I hope to speak with you soon!

Janie Bress
Your North Shore Real Estate Expert

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

4 Reasons to Buy a Home in Glencoe, Winnetka, or Northbrook IL This Fall

Fall is here and it's a great time to start fresh in a new North Shore home! While you may think summer is the busy season for real estate, that doesn't mean your time to buy ends with the closing of your local neighborhood pool. Now can be one of the best times of the year to buy a home and I'm sharing four reasons why below:

Mortgage rates will rise
Mortgage rates are still near record lows, but that won't be the case for too much longer! 30-year mortgage rates have increased half a percentage point this year and are expected to increase again over the next 12 months. By this time next year, rates are expected to be around 5.1%.

Home prices will rise
If you've been wondering where Glencoe, Winnetka, Highland Park, Northbrook, and Deerfield home prices will go over the next year, the answer is UP! According to CoreLogic's Home Price Insights report, home prices will continue to rise at a rate of 5% over the next year!

You're paying a mortgage either way
Think of it this way— regardless if you rent a home or buy, you're still paying a mortgage! If you buy a North Shore home, you're paying your own mortgage. If you rent, you're paying down your landlord's mortgage! New homeowners will have the benefit of building equity in their home which can help build your family's wealth, while renters will continue to help their landlord do the same.

Winter is coming
Real estate deals are indeed made no matter what season it is, but you will want to consider the upcoming Chicagoland winter weather and busy holiday season! Decide if you would prefer to take advantage of market conditions now while the temperatures are still favorable to move to a new home on Chicago's North Shore or move homes with snow and ice on the ground.

You could end up paying more for a mortgage in just a few months' time if you wait to buy, not to mention deal with the frigid weather! Contact me today to get started on your North Shore home search this fall!

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. 

How to Determine Resale Value in Chicago's North Shore Homes

Whether you intend to be in your next home on Chicago's North Shore for two years or twelve years, it is always important to determine resale value. After all, your home is an investment and you wouldn't want to invest in a property that you would have a hard time selling when the time comes to move on. That would only mean more money and homeowner headache for you down the road!

As your local North Shore real estate expert, I can help you determine the best possible property for your budget and your family's needs— and one with great resale value! Here are a few ways you can determine a property's resale value in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook, and beyond:

It's in a great neighborhood
If the neighborhood is bustling, with proximity to grocery stores, coffee shops, and restaurants, chances are it will have great appeal to future buyers. Is the neighborhood safe? Walkable? Full of young families or parks? Or is it not yet developed and far from amenities like these? These are all important features to take note of when you arrive to view a property on the North Shore.

It's in a quiet area
The last thing future homebuyers will want is a home near commercial properties, a busy intersection or high-traffic area. You may not mind if the property fits the bill on number of bedrooms, price, and backyard space, but always consider the sound factor. If you don't, you could pay for it later!

It has great schools
School districts are a major selling point for North Shore buyers and always will be! In fact, many buyers are willing to compromise on their home wishlist just for the school district. Regardless if you have children, take stock of the school district boundaries surrounding the property. If your property in question lies just outside of a great school district, you could have a harder time selling it in the future than if you were just a street closer to the more appealing option.

You won't spend too much on repairs
If you're going to live in a home for decades, you may not be worried too much about the cost you'll put into making necessary repairs or updates. However, if this a more short-term move, you'll want to be sure the home's systems are in great shape and won't cost you more than you'll be able to sell the property for when you're ready to move again.

Wondering if a property would be a good investment for your family or ready to start searching for North Shore homes? Give me a call today!

I look forward to hearing from 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. 

North Shore Home Tasks to Check Off Your List Before Fall

Fall is nearly here! But before the leaves begin to drop from the trees and we finally turn down the AC, there are a few tasks to tackle around your Glencoe, Highland Park, Winnetka, Deerfield, and Northbrook area homes. From cleaning the gutters to turning off the water to the garden hose, I've compiled a list of fall home maintenance tasks to add to your to-do list.

Clean out the gutters
To make room for the leaves and debris that will fall into your North Shore yard this fall, it's important to clean out your gutters now. While you're on the roof, you can also check for any damaged shingles that may have occurred over the summer and take the necessary steps to repair them.

Turn off outdoor water
You probably have your garden hose hooked up and have used it all summer, but you'll want to turn off that outdoor water supply as the weather begins to get cooler. Of course we can have summer-like temperatures well into October here on Chicago's North Shore, so just keep an eye on the dropping temps to determine when to disable the outdoor plumbing.

Clean and store outdoor furniture
You likely won't be entertaining or lounging on your outdoor furniture during the autumn months, so now is the time to clean your outdoor chairs, tables, and other garden fixtures and put them into storage for the winter. At the very least, consider investing in a cover to shield your furniture from the elements over the next few months.

Inspect your furnace
When the temperatures drop, we'll reach for the thermostat, but make sure yours has been inspected by a professional and is in excellent working condition before you throw it into overdrive. Now is the perfect opportunity to make an appointment as HVAC experts' schedules will quickly fill up as we get closer to winter.

Organize a mudroom
If you don't have your entryway stocked with floor mats for dirty (and wet!) shoes, coat hooks, and an umbrella stand, take a weekend and organize accordingly. With wet weather and colder air comes the need for bulkier clothing and footwear, so you'll want to have a space to keep it stored and easily accessible.

Questions about buying or selling a home on Chicago's North Shore? Do not hesitate to contact me! I'm here to help with everything from finding your home value to starting a new home search!

Happy fall!

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 Real Estate Reality TV Myths— Debunked!

By now, you've likely seen a real estate reality TV show or two— you may even have a favorite that you watch constantly. But whether you've watched one episode or twelve, it's important to note that not everything you see on your screen is indeed reality. If you've found yourself wondering if these shows do indeed portray how the buying, selling, or renovation process goes, I've included a reality check for you below!

Myth: Buyers Only Choose from 3 Homes
In nearly every reality TV show based on homebuyers, there are typically three homes toured and then the buyer makes a decision. While there may be a small percentage of buyers that buy one of the first few homes they see, the National Association of Realtors says the average homebuyer tours at least 10 homes during their search.

Myth: The Show is in Real Time
It may seem unrealistic that the homebuyers can go through the entire buying process, from search to closing, within a 30-minute time slot and that's because, it is. Real estate reality shows often follow buyers who are farther along in the process and have already chosen a home to buy, in an attempt to speed up the process for viewers.

Myth: The Homes are Still For Sale
Maybe you've spotted a home on your favorite real estate show that fits the bill, but unfortunately many of the homes shown on TV have already been sold and are off the market. The properties are staged for TV for the "home search" phase.

Myth: Your Home Will Sell at the Open House
Many times homeowners on TV will hold an open house and then choose from the dozens of offers that result from the traffic. However, it's important to note that just as many homes sell from regular showings and your property may not hook a buyer from the first open house. This is just a small piece of the marketing puzzle of your property.

Myth: Removing a Wall is Easy
These days, every homeowner wants an "open concept" floor plan and thus, real estate reality shows often show demo teams knocking down walls to make it happen. In reality, removing walls may not always been in your budget or even possible for your specific home. If the wall is load-bearing, there is much more structural work that comes into play and that can be more costly than you think!

Give me a call today for more information about available properties on Chicago's North Shore or with any questions you have on buying or selling your home in Glencoe, Winnetka, Highland Park, Deerfield, or Northbrook.

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. 

North Shore Yard Projects That Could Help Sell Your Winnetka or Glencoe Home

There is still plenty of summer weather left to enjoy and trust me, buyers are still out in droves searching for their dream homes! So does that mean all you need to do is stick a For Sale sign in the yard and sit back to wait? Absolutely not! There are a few projects that can help you increase your chances of landing a buyer and some of the most important are outdoors!

Below are five yard projects that could help you sell your home in Deerfield, Highland Park, Glencoe, Winnetka, Northbrook, and the surrounding areas:

Remove Debris and Overgrowth
There is nothing that can stop a North Shore homebuyer from coming to your door quicker than the appearance of an overgrown yard. Set aside a weekend to simply clear away debris like weeds, sticks and dead flowers, as well as give the lawn a good mowing.

Clean the Driveway
The elements can take a serious toll on your driveway and leave signs of dirt, grime, and even oil or grease from vehicles. Consider renting a power washer to clear away the stains from the driveway and pathways outside your home.

Remove Yard Clutter
Your home should present its best possible self when buyers arrive for a showing, so start by removing all clutter. This includes picking up kids toys from the yard, storing all lawn tools like rakes, hedge trimmers, and shovels, and even moving your vehicles to the garage. This helps your property to look as tidy as it possibly can.

Cater to the Buyer
If your home is in a great area, note that families may be looking to move in with their children and do your best to cater to them. Do you have a play set in the backyard? Now is the time to clean it up, so these family buyers can envision themselves living in your home.

Set the Scene
Buyers want to imagine entertaining their family and friends in the property and you can help them do so by setting the scene. Arrange your deck furniture in an inviting manner, complete with a clean grill, and maybe even a simple table setting with a candle and flower pot.

Ready to sell, but don't know if your home is ready? As your North Shore real estate expert, I will be your guide to prepping your home and seeing it through the sale! Give me a call today to get started on the selling process!

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. 

4 Reasons North Shore Lenders Will Reject Your Mortgage Application

When you've found your dream home on Chicago's North Shore, the next step is meeting with your local lender to submit a mortgage application. Pending you've already been pre-approved, this next milestone in the homebuying process should be smooth sailing, but there are a few factors that can send you right to the rejection pile.

Below are four reasons why a North Shore lender might reject your mortgage application this year:

You've changed jobs
Lenders like to see two solid years of consistent employment before they will agree to approve a mortgage loan. And while you may not always be in charge of a career move—for instance, if you are laid off—it is best to wait until after your closing to change if you can.

You don't have enough credit
You may think credit cards are a no-go when it's time to buy a home and you are right— somewhat. Your credit score and history are major factors lenders will observe in their decision process, but a lack of credit can be just as troubling as poor credit. If you have yet to build a credit history, it is fine to carry some debt via credit cards, as long as you pay it off on time.

You have poor credit
Lenders will look at your credit score to confirm you are capable of managing debt and paying on time. However, if your credit score is low, not only will you not qualify for favorable loan programs with reasonable rates, you could risk being rejected altogether. Take the time to look into your credit score and clean it up before applying for a loan, if possible.

You opened a new line of credit
Just as I mentioned above, it's important to have credit established, but you'll want to avoid opening anything new while you're in the process of buying a home. This is a red flag to lenders who will want to see that you are responsible with your debt management and opening a new line of credit will both ding your credit and suggest that you might be more of a spender.

Ready to begin searching for your dream home in Winnetka, Highland Park, Deerfield, Glencoe, or Northbrook? Contact me today!

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. 

Common North Shore Homebuying Myths to Ignore

If you're on the fence about buying a home on Chicago's North Shore, you might be surprised to know that what's been holding you back is a complete myth! There are dozens of myths flying around the real estate market surrounding everything from necessary credit scores to the documents you need to qualify for a mortgage.

I'm debunking some of the most common North Shore homebuying myths below so you can buy a home with confidence this year!

Myth: You need a perfect credit score
Many would-be homebuyers are held back from the process simply because they don't think their credit score is high enough. According to real estate industry resource Keeping Current Matters, the average credit score of all approved loans in June 2018 was 726. Don't assume you won't be approved! Your first step should always be meeting with a lender to determine which home loan programs you qualify for on the North Shore.

Myth: You need 20 percent down
Another common myth in real estate is that you need 20 percent down to buy a home or the loan won't be approved. Think again! Many homebuyers today can purchase homes with as little as 3 percent down— even zero down depending on the type of loan! According to Keeping Current Matters, first-time homebuyers put down an average of 6 percent in June.

Myth: You should wait for interest rates to drop
By historical standards, today's interest rates are still incredibly low! Consider this— in the 1980's, interest rates were hovering around 12.7 percent; in the '90s, 8.12 percent! Locking in today's rate of 4.5 percent is still a smart decision if you're planning to buy a home!

Have more questions about buying a home in Northbrook, Highland Park, Glencoe, Deerfield, Winnetka or the surrounding areas? Give me a call today! As your local expert, I am happy to answer everything from first steps to financing to home closings!

Happy house hunting!

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.