4 Financial Questions to Ask Yourself When Buying a North Shore Home

Are you financially prepared to buy a home on Chicago's North Shore?

Your Finances & Buying a Home

When contemplating the purchase of a home on Chicago’s North Shore, you must consider your financial standing very carefully. Evaluating your finances goes beyond just looking at your credit, as there are many other financial considerations involved. But what are those considerations? Here are 4 questions to ask yourself when considering the purchase of a North Shore home:

How much can I afford? Your mortgage payment should not exceed 30% of your net household income. While the amount will vary based on the type loan that you are trying to obtain, you will also need to have liquid cash available for a downpayment as well. There are many mortgage calculators available to help you get an estimate of what you can afford. You will also want to account for additional monthly costs, such as insurance and taxes.

Do I have a firm budget in place? Before purchasing a home, it’s important to have a budget in place. A budget will help you monitor you money more closely, which will be very important as you go through the approval process for a mortgage. It should be reevaluated often to ensure that you are staying on track and that no adjustments need to be made. Maintaining a budget can also help you pay down debt and put more money into savings.

How does my credit look? Your credit rating is highly important when purchasing a home. The second that you begin considering the purchase of a home, you should obtain a copy of your credit report. Verify the accuracy of your report and also evaluate your debt-to-credit ratio. Derogatory marks on your credit or too much  revolving debt can prevent you from getting approved for a loan. A strong credit rating can also help you get a lower interest rate.

Should I get pre-approved? While not required, it is a very good idea to get pre-approved for a mortgage if you feel you are ready to start seriously looking for a home. This is the only way that you will know the actual amount that you will be able to finance. Your offer will also be more appealing to sellers because a pre-approval assures them that you are financially capable of purchasing the home.

Especially into today’s stringent lending environment, having a strong grasp on your finances is incredibly important if you are looking to buy a North Shore home.  Asking yourself these 4 questions will help you determine if you are financially prepared to buy a home on Chicago's North Shore.  If you feel like you and your finances are ready to buy a home, the next step is to find an experienced North Shore realtor to help you through your home search process. It would be my pleasure to assist you in finding the perfect North Shore home to suit your needs, so please contact me today to start your home search!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Upcoming Events on Chicago’s North Shore

North Shore Late Summer Events

Events on Chicago's North Shore

The 4th of July has passed, and the first day of school will be here before you know it. With so many community events, you’ll definitely want to take the opportunity to get out to some of the North Shore’s late summer favorites. Organized events that create a sense of community are something that so many love about Chicago’s North Shore, and here are a few locally renown upcoming choices:

Northbrook Days

Northbrook, IL
July 30th - August 3rd

Head out to the Village Green for five fun-filled days of carnival rides, games, the “Taste of Northbrook”, and a local business expo. There is even going to be a wine and painting event held on Sunday, August 3rd. You won’t want to miss out on this annual family-friendly summertime favorite hosted by the Northbrook Civic Foundation.

Chicago Botanic Garden Kite Festival

Glencoe, IL
August 9th & 10th

Who doesn’t love to fly a kite? This event gives children of all ages the opportunity to do so in the beautiful setting of the meadow west of Evening Island at the Botanic Garden. The Chicago Fire Kite Team will be on hand, along with other professionals, to both demonstrate and teach. Food and treats will be available for purchase at the festival.

2014 American Craft Exposition

Evanston, IL
August 22nd - 24th

This a long-standing event held annually at Northwestern University. One of the most-loved North Shore summer fairs, The American Craft Exposition a highly competitive, juried art event with a wide variety of artistic stylings — metals, jewelry, leather, wood, decorative fibers and ceramics, just to a name some. There will also be a benefit preview to support ongoing breast and ovarian cancer research on the North Shore.

It’s so important to enjoy the community in which you live, and Chicago’s North Shore makes that easy to do. The communities offer such a variety of festivals and fairs, there is definitely something for everyone. Please feel free to contact me if you would like more information about Chicago’s North Shore. As a long-time North Shore real estate professional, I love helping people fall in love with it.

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

Pricing Your North Shore Home to Sell!

Factors to be Considered Before Listing Your North Shore Home for Sale

There is a careful balance that needs to be achieved when deciding the listing price of your North Shore home. On one hand, you want to get as much money as you can for your home. On the other hand, you must be realistic about what you home is worth based on several factors. With my many years is assisting sellers on Chicago’s North Shore, I have found that this is the best approach.

Know your comps. Get on the internet and look for homes that are comparable to yours — both currently listed and recently sold. When looking for comparable homes, be sure to take your home’s amenities into account, not just the number of bedrooms and the square footage. Many listing websites offer calculators that can help walk you through the process of comparing your home to others. Keep in mind though, what your home is actually worth to buyers depends very much on how your local real estate market is performing.

Seek professional assistance. Your agent will mostly likely complete a comparative market analysis (CMA) for you. Being that an agent who specializes in your area has worked with many buyers and sellers, he or she will know where to find the information and which information is reliable. It’s also a good idea to have your home appraised as early as you can in the selling process. It will definitely have to be done at some point, and a professional appraisal will give you the true market value of your home.

Market factors. As previously mentioned, the state of the housing market in your area will be an important factor of setting your listing price. While an appraisal may determine what your home is worth based on its physical attributes, you may not be able to get that dollar amount if other comparable homes in your area listed for less. The amount of inventory available in your neighborhood can also affect the listing price of your home. If there are many homes available, buyers will have a bit more leverage than if availability is low.

Be strategic. Before listing your home, you must determine what your bottom-line selling price is going to be. Once you determine that number, have a discussion with your realtor to create a pricing strategy around that number. You will want to start at a price point that is higher than your bottom-line but not so high that it’s turning away potential buyers. You also want to be strategic based on the price range of comparable homes in your area so that your home in returned in as many searches as possible. If the average price range for homes in your area is $650,000 to $700, 000, listing $705,000 may end up excluding you from searches. The more visibility your home has on listing sites, the more likely it is that you will find a buyer efficiently.

Evaluating whether or not your home is priced correctly will be a continual discussion with your agent as you go through the selling process. Revisiting your listing price often is a proactive way to help get your North Shore home sold as quickly as possible. When you are working with a realtor who has extensive knowledge and understanding of Chicago’s North Shore real estate market, he or she will ensure that your home is priced to sell while still having your best interest in mind as well. Please feel free to contact me for more information on selling your North Shore home. I would be happy to be at your side to help your through the selling process.

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 Tips for Hosting a Stellar North Shore Barbecue!

Summer is upon us on Chicago’s North Shore!  Time to move the dinner party from your dining room table to the backyard.  What a great way to utilize all of your North Shore real estate while showing off all of the time and effort you’ve put into your yard!  The most important things to focus on are keeping your guests comfortable and engaged.  Here are some tips to help you focus on just that.

Plan your menu:  When choosing the food you will be serving, be sure to consider all the guests who will be in attendance.  While steak and burgers are great cookout staples, be conscious of those who may not eat red meat or maybe even any meat at all.  Keep your side dishes varied as well.  Not everyone loves potato salad!  If you are planning to provide alcohol, have a selection of beer and wine at a minimum.  While you can’t necessarily meet everyone’s preference, providing a wide variety will allow you to come as close as you can to doing so.     

Avoid paper plates and plastic forks:  If you have at least one barbecue a year, invest in a set of inexpensive “outdoor” dishes and cutlery.  Even if they're just plastic, they will not only hold up to heavy grilled food better but also create a more formal feel.  If you really want to avoid dish duty, there are also disposable bamboo options available as well.  While more expensive than their flower-designed, wax-coated cousins, they are both more environmentally friendly and create a unique presentation.

Bring on the games:  Avoid lulls in your party by having lawn games available.  Croquet, bocce ball, and badminton are all great options.  They will allow your guests to have a reason to mingle and can all be played without an abundance experience.  If you have children in attendance, consider having some kid-friendly options readily available as well.  

Keep it bright:  Ensure that your outdoor lighting is sufficient once the sun sets.  Strung outdoor lights can be functional while also adding a decorative flare.  Table top lanterns can also be a great way to add illumination to your outdoor area.  You may also want to consider one or two propane heaters.  Again, the comfort of your guests will great affect their enjoyment of your event.

Beware of bugs:  When dusk arrives, so do the bugs.  Citronella candles or torches around the perimeter of the gathering space are a great way to cut down on the pests.  It’s also a good idea to have some sort of repellant spray or cream available for those who choose to use it.  Nothing can kill the mood of a get-together more than being attacked by mosquitos!

Most of us look forward to summer on Chicago’s North Shore all year long.  Now that it’s here, make the best of it!  Many people enjoy backyard gatherings because they tend to be low key compared to those indoors, but we all still want to “wow” our guests.  If you’ve been considering selling your North Shore home, a barbecue can also be a great time to take in the impressions of others regarding the exterior of your home and your curb appeal, both in the front and back of your home.  I would also be happy to supply you an objective opinion of your North Shore home curb appeal.  My years of experience helping others both buy and sell North Shore real estate have given me an eye for the important details.  If you would like assistance with any of your real estate needs, please contact me.  We’ll find you a home or get your current sold in no time at all!

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.

Celebrating Memorial Day on Chicago's North Shore

Memorial Day is right around the corner!  In typical fashion, Chicago’s North Shore has a variety of events from which to choose.  That is one of the things that I truly love about the North Shore.  No matter which community you call home, there is always so much going on around you.  Everywhere you turn this Memorial Day there will be an opportunity to show your appreciation for our nation’s heroes.  Here are just some of your many options.

Glenview Memorial Day Parade

May 26th, 9:00am

Glenview

The annual parade starts east of the railroad tracks on Pine St. and continues to Glenview Rd. The ceremony will be held at the Veteran’s Memorial at Glenview Rd. and River Dr. and will include a color guard, remarks by Joseph Sesterhenn of the American Legion and an address by Village President, Kerry Cummings.

Deerfield Memorial Day Picnic

May 26th, 12:00pm

Deerfield

A Memorial Day BBQ will be held at the Weinburg Community for Senior Living.  Come out and enjoy food and live music by the Bourbon Street Strummers.  Children will be entertained with balloon sculpting by Holly Nagel. Come out and kick your summer off right!

86th Annual Memorial Day Celebration 

May 26th, 10:00am

Winnetka

Join in the Village’s 86th annual Memorial Day celebration with a parade from the corner of Glendale and Elm Streets and heads east to the Village Green. A ceremony honoring those who have served will immediately follow on the Village Green.

God Bless America
May 25th, 4:00pm
Glenview

Honor our nation’s veterans at the 7th Annual God Bless America Memorial Day concert.  The concert will take place at the Glenview Community Church and will be featuring The Navy Band Great Lakes Wind Ensemble.  If you’re a local veteran, you are invited to partake in the event.  Anyone interested in participating should contact American Legion Post 166's Vice Commander, Lloyd Kuehn at 847-965-5210 to get details.

Whether it’s a holiday or just another Friday night, there is always something happening on Chicago’s North Shore.  That is one of the many reasons that so many people choose to call the North Shore home.  If you have been considering a move to Chicago’s North Shore, now is a great time to explore your options.  As an experienced North Shore realtor, I help numerous people both buy and sell their North Shore real estate every year.  Please contact me if you would like an experienced professional to assist you with your needs.

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.