Determine Your Financial Strategy Before Buying a North Shore Home

Figuring out your financial strategy is the first step in buying a North Shore home.  You want to make sure you’re fully prepared to take the next step, whether you're a first time home buyer or are looking at buying your dream home along Chicago’s North Shore.

As a North Shore Real Estate agent, I’ve seen buyers who are so focused on the cost of a home that their main objective is simply to have enough funds to pay their monthly mortgage.  However, a financial strategy is so much more!  If you’re hoping to buy a North Shore home this summer, think through your financial strategy by asking yourself the following questions:

    •    How long do I plan to live in this house?
    •    Where do I see myself in five or 10 years?
    •    Do I have to or want to make home improvements?
    •    Do I want to keep cash on hand for other investments?
    •    Can I take financial risks?
    •    Do I want to be debt-free?

Once you’ve determined the answers to these questions, you can map out where you want to land financially after the home purchase.  Your financial philosophy will help you navigate through the process of getting a mortgage loan and other various options you’ll need to decide when buying your home.  Here are five tips to consider when searching for the right mortgage loan.

1. Shop for the best rates- Look at local banks as well as national lenders for find the best rates.  You may even want to consider working with a mortgage lender.

2. Decide on points- Decide if you’re willing to pay for point to get a lower interest rate, or if you want to take a higher rate in order to keep closing costs down.

3. Combine different loan features- This allows you to feel comfortable with the loan as well as giving you flexibility to achieve your financial goals.

4. Don’t forget about additional costs- When applying for a loan you’ll want to factor in additional costs such as property taxes, insurance and possible homeowner’s association fees.

5. Ask about other loan terms- Oftentimes banks won’t advertise loan terms such as 20 years, but asking about it can ensure you find the right fit for your loan.

I hope these tips are helpful as you plan out your home buying financial strategy!  I’m here to help answer any questions you have about buying a home on the North Shore or about the North Shore Real Estate market.  Whether you’re hoping to live in Glencoe, Highland Park, Northbrook, Deerfield or Winnetka; I would love the opportunity to talk with you!

I look forward to hearing from you!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
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Eat Fresh, Eat Local on Chicago's North Shore!

A healthy lifestyle is just one of the many things offered on Chicago’s North Shore.  Whether it’s taking advantage of biking and walking trails, getting out in the fresh air in each North Shore cities’ quaint downtown or shopping for local produce at the area farmers’ markets; you’ll enjoy endless opportunities to engage in a health filled lifestyle this summer!

In serving as a North Shore Real Estate agent for a number of years in the cities of Deerfield, Winnetka, Northbrook, Glencoe and Highland Park; I’m always eager to let those relocating to the area what these charming areas have to offer and ways to get involved in the community.  A great way to do this is through the weekly farmers markets  which allow you to eat fresh, support local farmers and get to know your neighbors.

Below are just a few of the North Shore farmer’s markets you won’t want to miss!

Deerfield Farmers Market
Metra Commuter Lot at Deerfield Rd. & Robert York Ave., Deerfield

Saturday Mornings, June 16 - October 13 from 7am to 12:30pm                

- Savor the Flavor of the Seasons' Bounty at the Deerfield Farmers Market, this year celebrating its’ 18th season!  Each week find fresh-from-the-farm products grown by Midwest farmers and produced by local businesses. Choose from organic fruits and flowers, fresh baked good, hand-crafted Wisconsin cheese and much more!  This is Deerfield's very own place to be every Saturday morning! 

Northbrook Farmers Market
Our Lady of the Brook Church
3700 Dundee Road, Northbrook

Wednesdays, June 20 - October 10 from 7am to 1pm

- Northbrook Farmers Market opens its 4th season next Wednesday, June 20, with the traditional 9:30 a.m. Watermelon Cutting Ceremony presided by Village President Sandy Frum.  Musical performances, crafts for the children, free popcorn, police and fire department vehicle tours and much more will make the opening day a memorable experience!

Glencoe Farmers Market
Metra Commuter Parking Lot
NE Corner of Green Bay & Park, Glencoe

Saturdays, June 23 - October 27 from 8am to 1pm

- Shop for fresh fruits, veggies, baked goods, flowers and more at the Glencoe Farmers Market sponsored by the Glencoe Chamber of Commerce. 

Ravinia Farmer’s Market
475 Roger Williams Ave, Highland Park

Wednedays, June 6 - October 31 from 7am to 1pm

- This local Highland Park market is filled with local produce and goods that will keep you coming back each Saturday!

I hope you’re able to get outdoors this summer and enjoy the healthy and fresh food grown by local farmers.  This is a great way to support the local businesses and the community while buying the freshest produce in the area!

If you’re considering relocating to the North Shore this summer and are interested in learning more about the North Shore lifestyle or would like to see some of the homes currently available on the North Shore Real Estate market; please contact me today!  

I would love to help you find your dream home in Chicago’s North Shore!  

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Highland Park Market Stats for May 2012

Highland Park Active Listings: There are a total of 299 properties actively on the market with the average price of $973,803 in Highland Park.

Highland Park Sold Listings: 35 properties closed last month in Highland Park with an average sales price of $594,682, the average time on market for these properties was 88 days. 

To view the complete report including additional detailed data, charts ad graphs, please view the Highland Park market statistics! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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Deerfield Market Stats for May 2012

Deerfield Active Listings: There are a total of 134 properties actively on the market with the average price of $530,480 in Deerfield.

Deerfield Sold Listings: 31 properties closed last month in Deerfield with an average sales price of $293,378, the average time on market for these properties was 129 days. 

To view the complete report including additional detailed data, charts ad graphs, please view the Deerfield market statistics! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
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Winnetka Market Stats for May 2012

Winnetka Active Listings: There are a total of 162 properties actively on the market with the average price of $1,853,647 in Winnetka.

Winnetka Sold Listings: 29 properties closed last month in Winnetka with an average sales price of $1,011,931, the average time on market for these properties was 106 days. 

To view the complete report including additional detailed data, charts ad graphs, please view the Winnetka market statistics! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Glencoe Market Stats for May 2012

Glencoe Active Listings: There are a total of 95 properties actively on the market with the average price of $1,657,645 in Glencoe.

Glencoe Sold Listings: 12 properties closed last month in Glencoe with an average sales price of $954,3754, the average time on market for these properties was 134 days. 

To view the complete report including additional detailed data, charts ad graphs, please view the Glencoe market statistics!

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website

Northbrook Market Stats for May 2012

Northbrook Active Listings: There are a total of 273 properties actively on the market with the average price of $572,455 in Northbrook.

Northbrook Sold Listings: 57 properties closed last month in Northbrook with an average sales price of $418,194, the average time on market for these properties was 117 days. 

To view the complete report including additional detailed data, charts ad graphs, please view the Northbrook market statistics! 

Janie Bress
Your North Shore Real Estate Expert

North Shore Real Estate
View North Shore Listings
Visit My Website