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How's the Market?

Real Estate News of Chicago's North Shore   

November, 2011   

In This Issue
Home as Shelter
In the news...
Just the facts...
Highest sales in October
5 Holiday Hosting Disasters
2011 Holiday Boutique
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Home as Shelter

September, 2009 

 

Home as Shelter
Recently I was reading Kiplinger's Magazine, a favorite of mine. Knight Kiplinger, the Editor in Chief, had an opinion, entitled, An Investor's Manifesto. It was actually a series of statements that related to investing. For example, "I know that every kind of asset entails risk -- even cash, which can be eroded by inflation."

As I read through the list of statements, one of them popped out and resonated with me:

  
In the news...
"6 Good Reasons to Buy a Home Now:

Houses are more affordable than they've been in a decade...."

Kiplinger Personal Finance 

 

"In the Long Island ZIP code 11962, better known as Sagaponack, N.Y., the most expensive property currently for sale is listed at $30 million...." 

America's Most Expensive Zip Codes

-Forbes    

 

"U.S. house prices have plunged by nearly a third since 2006, and homeownership rates are falling at the fastest pace since the Great Depression.

The good news? Two key measures now suggest...
- The Wall Street Journal  

"The home price picture for this year is shaping up to be a little better than it looked June, according to the September 2011 home price expectations survey of 111 leading housing economists ..."
- Real Estate Economy Watch
 

"Housing remains mired in a slump in most of the country, with nearly one in four homeowners under water. But... a handful of bold investors are attempting to make millions on flips of high-end houses." 

- The Wall Street Journal

Bless this house,
O Lord we pray,
Make it safe by night and day . .  
Bless these walls so firm and stout,
Keeping want and trouble out . .  
Bless the roof and chimneys tall,
Let thy peace lie overall . . .
Bless this door that it may prove,
Ever open,
To joy and love . . .

  - Helen Taylor 

Greetings!

Welcome to "How's the Market?"  

November -- an interesting time.  In real estate things start to slow down a bit.  In general, folks would rather focus inward to home and family and not look at properties or even think about moving.  It's enough effort to get all the holiday decorations out of storage and begin preparing the house for the holidays!

I love this month, if for no other reason, it's a time for reflection and gratitude.  I start making my lists for Christmas presents and cards; lists for menus of the upcoming gatherings and special treats; and lists for goals and dreams for the new year. 

Mainly I make a mental list of things for which I'm grateful: a wonderful family, great friends, nice clients, terrific colleagues at my office, a lovely town in which to live and so much more.   Thanksgiving -- my favorite holiday.

Here's hoping that your November is special too... a great time to gather and be with those you love.

 

 
Just the facts..
How's the market? 
"Chicago-area home prices continued to fall across the board in the first six months of this year, with the exception of one part of one northern suburb..."
-Crain's Chicago Business
 
"...Study these pages closely... and a few bright spots emerge... towns on the charts which track home sales between July 1, 2010, and June 30, 2011-saw increases in their average home sale prices when compared with last year..."
- Chicago Magazine   
 
Confusing?  Two articles are released in the same month and the data is conflicting.  I don't mean to sound cynical, but I do tend to think reporters write the story they want to write and then find and structure the data to support the story.  
 
 
 
 
The North Shore's Highest Sales in October
1111 Sheridan Winnetka 
Winnetka - 1111 Sheridan Road
Original List - $7,900,000
List - $5,495,000
Sale - $4,500,000 (82% of asking)

Total Days on Market - 423

Days on Market at Final List Price - 17

  

Kenilworth - 239 Essex Road 

Original List - $3,795,000

List - $3,269,000

Sale - $2,875,000 (88%)

Total Days on Market - 448 

Days on Market at Final List Price - 161 
                     

Lake Forest - 1411 Lake Road  

List - $2,695,000

Sale - $2,500,000  (93%)

Total Days on Market - 12

 
5 Holiday Hosting Disasters and
     How to Avoid Them
Thanksgiving shot
Take a look at the most common things that can go wrong when you have guests and learn how to prevent them.  That's just one of many hosting nightmares that can end your holiday party before it even begins. Thankfully, some of the most damaging mishaps easily can be....


 
 
Wanted you to know...
LF hospital boutique
2011 Holiday Boutique
 
Come to the Women's Board of Northwestern Lake Forest Hospital Annual Holiday Boutique!

 

Enjoy the spirit of the season while shopping unique gifts from dozens of vendors-including designer jewelry, purses and accessories, specialty foods, children's toys, clothing and books, handmade ornaments and exquisite gifts.

 

Preview Party
Wednesday, November 16, 2011: 6:00pm to 9:00pm  

For information and reservations

 

Holiday Boutique
Thursday, November 17, 2011: 10:00 a.m. to 6:00 p.m. 

Friday, November 18, 2011: 10:00 a.m. to 7:00 p.m.
Saturday, November 19, 2011: 10:00 a.m. to 2:00 p.m.

(General admission tickets are $10.00 and include unlimited free admission.)

 

Lake Forest Recreation Center*
400 Hastings Road
Lake Forest, Illinois

*Please note this year's new location. 

 

All proceeds benefit the extraordinary healthcare provided by Northwestern Lake Forest Hospital.  

 

Hope to see you there -- I'll once again be at the Harbor Sweets booth!

   
As always, if there is any way that I can assist you with your real estate needs, please don't hesitate to call or write!

  

Have a great Thanksgiving! 

 

Ann 

 

R. Ann Jones,

Broker Associate 

Prudential Rubloff Properties

 


Details Make the Difference!

 

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If your property is currently listed for sale with an agent or broker, this is not intended to be a solicitation of that listing.