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

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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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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
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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 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
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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 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
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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. 

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. 

What to Ask a Lender on Chicago's North Shore

Your home on Chicago's North Shore will likely be the largest purchase you ever make and you may need to work with a lender to secure financing to close the deal. However, not all lenders are the same and finding a great one that you trust to see you through the entire process can be a challenge.

It's best to start pursuing lenders as soon as you begin searching for North Shore homes as you'll want to have your lender in place when you find "the one." But how do you know when you've found the right one? Below are three important questions to ask potential lenders in Glencoe, Winnetka, Deerfield, Highland Park, Northbrook, and the surrounding areas:

Is now a good time to buy?
An honest, trustworthy lender is just as important as your real estate agent. The right lender will explain if it is a good time to buy for your situation in a way that you understand. For instance, they will share how factors like your debt-to-income ratio and down payment will your buying power now versus next year.

What debts should I pay first to get a good rate?
When asking this question, a good lender will be able to share what they're looking for in your credit score and history and how you might be able to improve it prior to buying a home. They will likely comb through your credit report and point out which debts will have the most impact on your buying power and ability to qualify for a mortgage— and secure a great rate!

How much will I pay at closing?
Closing costs are a new concept to many first-time homebuyers, but no matter how experienced you are in the homebuying world, this question helps you to avoid any surprises at the closing table. Your lender should be able to share what you might pay in closing costs and how it is paid, via check or electronically.

Need a recommendation for a lender on Chicago's North Shore? Give me a call today! As your real estate agent, I have built a large network to assist you with everything from securing a mortgage to scheduling an inspection.

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. 

6 Hidden Costs of Owning a Home on Chicago's North Shore

Owning a home on Chicago's North Shore certainly has its perks— from tax benefits to design freedom and everything in between. But if you're making the transition from renter to homeowner this year, it's important to note that there may be a few home-related costs that you didn't plan for or even know about before you began house-hunting.

As your local real estate expert in Winnetka, Glencoe, Deerfield, Northbrook, Highland Park, and the surrounding areas, it is my job to make sure you are prepared for every aspect of homeownership— including the following hidden costs:

Property Taxes
When you use a mortgage calculator prior to buying a home on the North Shore, it is essential that you input estimated property taxes. You can typically find this amount on any listing, or ask your real estate agent to find it for you, so you can see how your monthly payment will change adding them in.

Insurance
Homeowner's insurance will vary depending on your home, your pets, your neighborhood, and a host of other different factors. Research average costs in your area and add them into your potential monthly mortgage payment to avoid any surprises down the road.

Yard Upkeep
If you've been a renter, you likely did not have to deal with the upkeep and maintenance that a yard requires. Once you become a homeowner, you will be responsible for buying all of your own tools, including snowblowers, lawn mowers, shovels, and rakes. Not to mention, the time you will need to free up to keep your yard looking well-manicured in every season!

HVAC
Furnaces and air conditioning units can be a major cost that homeowners do not account for when buying a property. For instance, if you don't have a home warranty, and your furnace breaks down, only you are responsible for covering the repairs or replacement which can cost you thousands! It's best to begin saving for a rainy day fund at the start of your homeowner journey to prepare for things like this, or even small expenses like replacing furnace filters every month or so.

Pest Control
Homes on the North Shore can look appealing to small pests like mice, raccoons, possum, birds, ants, you name it! As a homeowner, you may encounter a pest removal situation which can cost hundreds or more in damage repair and preventative maintenance.

Utilities
As a renter, you were likely use to much smaller utility bills than you will have as a homeowner on Chicago's North Shore. You can ask the previous homeowner—once you've found a home you're interested in—for the average utility costs in order to factor them into your overall budget and avoid surprises later.

Do not hesitate to contact me with any questions about buying a home in Winnetka, Glencoe, Deerfield, Northbrook, or Highland Park! I am here to help you find your dream home with as little stress and surprise as possible!

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. 

How to Compete with Cash Buyers on Chicago's North Shore

When you've found your dream home in Winnetka, Deerfield, Highland Park, Northbrook, Glencoe, or the surrounding areas, you are willing to do what it takes to make sure it becomes yours. The last thing you want is to be outbid (or in some cases, underbid) by another buyer who turns out to have all cash!

To compete with cash buyers in today's real estate market, you will need to have a certain edge and as your local North Shore real estate expert, I'm sharing five ways for you to stand out below:

Don't hide anything
Being upfront with your finances can help a seller feel more confident in choosing your offer. Allow your lender to release financial details like your income, bank statements, and credit report. Providing this information may prompt the seller to consider your offer just the same as a cash buyer.

Accelerate the loan
Cash transactions move quickly and for sellers, that is a major perk. When you use financing to purchase a North Shore home, the closing process is not as swift and therefore, your offer may not look as appealing. However, you can always ask how you can speed up the process. Depending on your lender, they may be able to turn around the loan in as little as 14 days, pending all documents are submitted efficiently and the appraiser is dispatched on time.

Bid higher
Cash buyers tend to offer a lower amount for a property simply because there are fewer hoops to jump through for the seller given there is no financing. If you don't want to lose the home, consider bidding higher. Offering more than you think the home is worth could put you ahead of the cash buyer and in the long run, it likely will not change your mortgage payment much.

Make yourself known
Oftentimes, sellers want to know who their house is going to and including a personal letter could be just what they need to accept your offer over a cash buyer. Make yourself known to the sellers, tell them who you are, what you love about the property, and what you plan to do with it. In today's market, it couldn't hurt!'

Move along the inspection
When a seller accepts your offer over a cash buyer, there is still one more potential hurdle aside from financing and that is the inspection. If you can conduct your inspection within days after your accepted offer, this assures the seller that they made the right decision and you can follow through with the sale.

Ready to start the search for your North Shore dream home or found what you're looking for and want to seal the deal? Give me a call today! I've helped numerous buyers become homeowners in in Winnetka, Deerfield, Highland Park, Northbrook, and Glencoe and I'd be happy to help you do the same!

Looking 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. 

Your Guide to Buying New Construction Homes on Chicago's North Shore

No matter how long you've been searching for properties on Chicago's North Shore, or the location in which you're looking, you are bound to come across a new construction home at some point. And if after touring options in Glencoe, Winnetka, Highland Park, Deerfield, Northbrook, or Evanston, you ultimately decide that it's a new construction home that would suit you best, there are a few important factors to note.

You may not find them in the MLS
Oftentimes, new construction homes are not found in the MLS (or rather, readily available to you on real estate websites) as builders have a team working on-site, advertising in newspapers or other local media. If you're set on a new build home, let your agent know so they can find the best properties for you.

You could get an early discount
Early in the sales process, builders are eager to get as many contracts signed as possible to fuel future sales. This could mean great things for you as a buyer as there may be room to negotiate a lower price, but remember that you are then committed to the build and could risk losing your down payment should you decide you don't want to move forward before breaking ground.

They may offer you an upgrade discount
If the builder is nearing the end of the project, they may be more open to compromise. Even if they refuse to budge on price, they may be willing to give you a discount in the form of upgrades. For instance, they could offer you hardwood floors instead of carpet, stainless steel appliances instead of standard. In the long run, the upgrades may make for a better deal than any price drop!

Whether you're interested in new construction homes in Glencoe, Winnetka, Highland Park, Deerfield, or Northbrook or older homes with endless character, I will be your guide! My years of experience as a North Shore real estate expert will help you find the best home for you and your family, at the best price!

Give me a call 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. 

How to Factor Your Commute into Your North Shore Home Purchase

There are many great reasons to buy a home on Chicago's North Shore— picturesque neighborhoods,  great schools, a strong sense of community, proximity to entertainment, you name it! One factor that you may not always consider in your buying decision, however, is your commute. If you plan to buy a home on the North Shore and work in the city or in one of the surrounding areas, there are a few things you should note first.

As your North Shore real estate expert, I'm sharing a few ways to factor your commute into your homebuying decision:

Note the costs
Before you decide on the North Shore community where you will make your purchase, it's essential to consider the costs of your commute. The average commute time in the US is 25 minutes, but the farther away you make your home purchase, the more you will accrue in costs, including gas and vehicle maintenance. When you have a potential home in question, map the time from the front door to your workplace and then estimate gas mileage.

Browse home prices
Perhaps you currently work in Deerfield, but found the perfect homes in Winnetka and Glencoe. One thing you will want to research prior to deciding on a community is the difference in home prices. You will find that certain communities on the North Shore have higher prices than others, so do not hesitate to contact me to find the best area for both your needs and your budget!

Consider your work schedule
As I mentioned above, the costs of a longer commute time can take a toll on your wallet. However, if you have a flexible work schedule—perhaps you can set your own hours—you may be able to open up your options in terms of location and not worry so much about how long it takes to get to your desk in the morning.

Note your stress level
Does a long commute time cause your stress to go through the roof? Does sitting in traffic or behind the wheel for an hour put a damper on your whole day? You will want to ask yourself how you feel about that long commute time and how it affects your mental outlook before you decide which North Shore community to call home.

Ready to browse available homes on Chicago's North Shore in a place that makes sense for your commute? 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. 

Why 2018 is the Year to Buy a Home on Chicago's North Shore

If you have a fresh start on your mind, you may have already started browsing homes for sale on Chicago's North Shore— and you're right to do so! 2018 will be a great year to buy a home in Winnetka, Glencoe, Deerfield, Highland Park, Northbrook and the surrounding communities for many reasons, some of which I've included for you below!

Prices are rising
You have heard over the past few months that prices are rising and that trend is set to continue throughout 2018, just not quite at the rate they were before. Moderate price increases are expected for the real estate market and if you're ready to buy, now is the time to ensure you don't end up spending more than necessary.

Rates are rising
Just as I mentioned above, you will want to act now on your North Shore dream home to avoid paying more down the road. Interest rates are expected to continue rising, with two to four more hikes over the next 11 months. By the end of the year, rates are projected to be at 5 percent, so don't delay your home purchase!

Inventory is coming back
It is no secret that inventory over the last year has been on the lower end of the spectrum— with very few homes for sale on Chicago's North Shore. However, this year we are expected to see a recovery, with the return of inventory to the local real estate market. Middle to upper level price points will show the most growth in inventory, which means your options for available properties will be much wider than in the past.

Ready to make a move for the new year ahead? Give me a call today! As your North Shore real estate expert, I am here to help walk you through the entire process!

Happy new year!

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. 

Should You Buy a Home in Glencoe, Winnetka, Highland Park During the Holidays?

In a recent blog post, I shared the answer to the common question— Should I sell my home during the holidays? Now it's time to answer the opposite, Should you buy a home during this time of year? While it may surprise you, the answer is the same for both! The holidays can be a great opportunity to both sell and buy homes on Chicago's North Shore and as your local real estate expert, I'm sharing below a few reasons to buy a new property right now.

1. Less competition
As the holidays come with a great deal of hustle and bustle, not to mention traveling, many tend to put their home searches on the back burner until the spring. In fact, many tend to think spring is the best time to buy a home and as a result, you will have much less competition for homes currently for sale if you buy now!

2. Sellers are motivated
Buying a home on the North Shore during the holidays can allow you to find a great deal. After all, homes that are listed now likely have motivated sellers who need to move on before the new year or the listings are leftover from the fall (sometimes, even summer) market. Unlike buying a home during the busier spring and summer seasons, you may just find flexible more sellers in the current market.

3. You have a clear picture 
During the spring and summer, homes in Glencoe, Winnetka, Highland Park, and the surrounding areas look bright, fresh, and appealing with idyllic landscaping and green grass. During the holidays, you have a much clearer picture of what the property will look like the other six (or more!) months out of the year— you are able to see the home for what it truly is, without being distracted by flowers and sun-lit rooms.

4. Easy access
The holidays are not quite as busy for professionals working in the real estate market. Not only does that mean you have better access to lenders and the like, but your home purchase in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook, Evanston, Glenview, Wilmette, Lake Bluff, or Skokie could move along much faster.

I'm here to help with every aspect of your home purchase on Chicago's North Shore! Do not hesitate to contact me with any questions you have!

Happy holidays!

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. 

3 Ways to Research a Winnetka, Glencoe, or Highland Park IL Home Before You Buy

There is much research to be conducted when buying a home in Winnetka, Glencoe, Highland Park, Northbrook, or Deerfield. For instance, not only will you need to determine the location or community where you'd like to live, but you will want to look further into the neighborhood and even the street itself.

Before you buy a home on Chicago's North Shore, it is important to do your due diligence in order to avoid any surprises. As your local real estate expert, I've included below three ways that you can research a property prior to signing on the dotted line.

Google Street View
This online tool is easy to use and allows you to see a snapshot of any home on Chicago's North Shore— as it would appear if you were standing in front of it yourself. Be aware that Google Street View's images are not always completely current and can be a few years old, but this tool can help you to understand how a neighborhood has grown or changed and the history of a property. For instance, if new landscaping has been added or exterior improvements made.

Crime Apps
There are dozens of neighborhood crime apps you can download to check on the safety of an area. Prior to buying a home, this is one way to get to know a particular neighborhood better if you are unfamiliar or just how recent crimes have been reported near a specific property.

Building Records
Did you know you can look through building records without even leaving your computer? Much of this information is available online and with a simple search, you can find building permit history, including what work has been been completed on the property. Keep in mind, however, that while most sellers are required to disclose work that has been done, there may be work done earlier that they were not aware of.

Ready to buy a home on Chicago's North Shore? Contact me today for a list of available properties, as well as information about the local market or communities including Winnetka, Glencoe, Highland Park, Deerfield, Northbrook, Evanston, Glenview, Wilmette, Lake Bluff, Skokie, and beyond.

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. 

Why You Should Buy a Home in Winnetka, Glencoe, or Highland Park IL This Fall

Once the summer has come to a close, many residents on Chicago's North Shore think the home buying season has ended along with it. While it is true that the summer months bring a wave of activity for the local real estate market, it is not the only time to buy a home— fall can be just as lucrative for North Shore buyers!

Below are five reasons why you should consider buying a home in Deerfield, Evanston, Glencoe, Glenview, Highland Park, Kenilworth, Lake Bluff, Lake Forest, Lincolnshire, Lincolnwood, Northbrook, Northfields, Riverwoods, Skokie, Willamette or Winnetka:

You could find a deal
Many home sellers first list their properties in the spring, some much too high for the market. By the time fall arrives, there is a chance that there will be leftover inventory from these spring sellers and you could find a deal!

There are fewer buyers
Your competition in the fall is significantly less than you had during the summer months. In fact, many families with children have halted their home search due to the school year, or have already found a home.

Motivated sellers
Homes that are listed in the fall could signal a home seller that wants to move on before the start of the new year— and thus, do what it takes to sell the property. As the holidays get closer, you may find that homes still for sale are a great deal in the making! No homeowner wants to deal with trying to sell during the holidays.

Sellers want to close before the new year
As I said above, when you buy a home during the fall, you may encounter a motivated seller who wants to sell before the end of the year. You could negotiate a better offer during this time of year simply because of the tax advantage (or disadvantage) the seller will have if they close quickly enough.

Homes don't show as well
The fall colors are beautiful on Chicago's North Shore, but homes don't tend to sell as well as they do during the summer months. With the weather slightly cooler and the lush landscaping losing its glamour, buyers aren't as drawn to homes this time of year, thus reducing your competition. It's also a great opportunity for a home inspection as all of the home's flaws will be exposed.

As your local real estate expert in Winnetka, Glencoe, Highland Park, Northbrook and Deerfield IL, I will be your guide no matter the time of year! Contact me today for more information about available properties on the North Shore!

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. 

3 Things to Know Before Upsizing to a New North Shore Home

If you've been considering buying a larger or more luxurious home on Chicago's North Shore, now is the time to start taking those next steps! Buyer demand is high, which means you could be competing with others for a property, however, with home prices and mortgage rates expected to increase, you won't want to wait any longer.

As your North Shore real estate expert, I'm here to help you through your next home purchase in Winnetka, Glencoe, Deerfield, Highland Park, Northbrook and the surrounding communities— and that means making sure you are an informed buyer, especially when upsizing. Below are three things you should know about moving up to a new home this year:

Note what you want vs. what you need
When it comes to your home search, it's important to note what you want versus what you need. Know what is absolutely essential in your new home, especially if you're upsizing. Do you need a bigger kitchen for hosting gatherings or do you just like the idea of one? Do you need a bigger yard due to pets and kids? Make a list of priorities before moving forward or you could risk ending up in a home with buyer's remorse!

Do the math
It's no secret that a bigger home will likely come with a bigger payment. You will need to do the math and research all costs involved before you commit to upsizing to a larger North Shore home. For instance, how much extra in maintenance costs will you have or will you need to purchase additional equipment to tackle it yourself? Is the home is in an association? How much are your dues every month? It's wise to have these all accounted for before starting your home search in Winnetka, Glencoe, Deerfield, Highland Park, and Northbrook.

Think about resale
No matter what size home you are buying, it is always smart to put on your future buyer hat and think about resale. If you choose the home and location wisely, you can make a profit when the time comes to sell. Think about what buyers will want, what area is up and coming or which neighborhood will be desirable given your timeline to sell. Think about the number of bedrooms and how that will affect resale. Even if you're upsizing now and plan to stay for decades, you will thank yourself later when it's time to potentially downsize.

Do not hesitate to contact me with any questions about buying a home on Chicago's North Shore! Whether you are upsizing, downsizing, or simply looking for a new home in a new neighborhood, you can count on me as your local real estate resource.

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 Questions First-Time Buyers on Chicago's North Shore Should Ask Themselves

Buying a home for the first time on Chicago's North Shore is exciting, especially knowing you could be saving money when you're no longer renting. But before you jump into the local real estate market, there are a few questions you will need to ask yourself to be sure this is the right time for you to purchase a home in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook and the surrounding areas.

Did I just change jobs?
If you've just experienced a job change, it could take longer to be approved for a mortgage through your local lender. Lenders typically like to see a solid employment history of at least two years and will want to see your tax returns and pay stubs as proof of income. But don't worry if you don't meet this requirement, it is not exactly a deal breaker! There are still ways to go about applying for a mortgage during a job transition, just speak to your lender.

Do I have a down payment?
Buying a home on Chicago's North Shore commonly entails putting 20 percent down. However, if you do not have this down payment ready and waiting, you can opt for a lower percentage. A lower down payment will require private mortgage insurance which will add to your overall monthly payment, but allows you to get around the standard 20 percent.

Am I ready for maintenance?
If you're purchase a single family home on the North Shore, maintenance will fall into your hands. Ask yourself if you're ready to take on yard upkeep and repairs like cleaning gutters or fixing leaky faucets. These often come with their own set of costs, so be prepared!

Am I familiar with closing costs?
Did you know most first-time buyers are not aware of closing costs? These include title, insurance, mortgage processing fees, and the like. Ask your lender what closing costs will run with your particular loan product to get an idea of how much you will be expected to pay at the closing table.

Is buying a better option than renting?
In today's market, buying a home is indeed a better investment than renting simply due to rising costs alone. But you will want to run the number to make sure your purchase will make sense in your overall payment. You can use a mortgage calculator to enter in expenses and come up with the number you could be paying each month. Doing the math is always wise before buying!

As your real estate agent on the North Shore, you can count on me to help you prepare to make a home purchase. Give me a call today for a list of available properties in Winnetka, Glencoe, Highland Park, Deerfield, Northbrook and the surrounding areas!

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.