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How's the Market?

Real Estate News of Chicago's North Shore   

September, 2013  

In This Issue
Depreciation
In the news...
Just the facts...
Highest sales in August
Home within a Home
Declutter your Life
Home Energy Jumpstart
Lessons Learned
Quick Links

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Best of my Blog 
Depreciation

July, 2013

Those of you who know me, know that before working in real estate, I worked as consultant for over twenty years for what was then one of the "Big 8" accounting firms (I know I date myself with that phrase.)  I was hired shortly after...
In the news...

"...However, there have been some troubling signs in the recovery, easily ignored because the basic numbers of sales and prices have been so impressive.  

For instance..."

The Real Estate Mini-Bubble Will Be Economy's Next Problem

- Forbes

  

"President Obama has waded into the debate about housing policy, but has offered few specifics on how to bring private capital back to the mortgage market." 

The Housing Market Is Still Missing a Backbone

- New York Times

 

"More than half of all homes sold last year and so far in 2013 have been financed without a mortgage, according to an analysis by economists..."

- Wall Street Journal

"If all the dire warnings about your health haven't motivated you to quit smoking, perhaps a jolt to the real estate pocketbook would do the trick..."

Smoking can affect a home's resale value

- Chicago Tribune

  

 
  
Step of the Month
#1 If You Know Something's Broke, Fix It!
  
"I love September, especially when we're in it." 
- Willie Stargell
 
 

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Welcome back to "How's the Market?"   We've had such a nice summer, I hate to see it end!  That said, there is nothing more beautiful than September in Chicago.  I love the clear blue sky and the beautiful leaves changing colors.  

This newsletter is a little more cluttered than usual.  I kept coming across articles and sites of interest... sorry if it's too much data, but it all seemed timely and interesting...

It has been an interesting summer, real estate wise: an active summer so far.  At Prudential Rubloff we experience an increase of closed volume for July of 24% over July last year, and units up 34% over last year. Year to date, closed volume is up 34% and units are up 29%. 
 
Also, I say with pride, Prudential Real Estate was ranked the highest for customer satisfaction in three segments in J.D. Power and Associates' annual Home Buyer/Seller Satisfaction Study in 2013, Prudential Rubloff was ranked among the nation's Power Brokers by RISMedia!   I know I've been busy, so there is optimism that things are moving in the right direction.  

As with every September in the last 12 years, I'm also reminded of the immense gratitude I have for the first responders in our communities.  
Enjoy the weather -- we know what's ahead of us!
 
Just the facts...

...New listings are appearing; prices are stabilizing and even going up in most of the North Shore communities; builders are rebuilding and we're even experiencing multiple offers on some properties.    The rise in the interest rates has not seemed to effect sales.    We are definitely seeing a more robust housing market all along the North Shore.... dare I say, that we're almost back to a balanced market in every community....

 So how is the market?

 

 
The North Shore's Highest Sales in August

Winnetka - 920 Hill Road

List - $3,999,500 + adjoining lot 

Sale - $5,000,000 

property has been on and off the market since 2006 -- the highest list price was $6,400,000.

 

Lake Forest - 700 Spring Lane

List - $5,325,000 

Sale - $4,950,000 (93%)

Total Days on Market - 2

         

Winnetka - 1150 Pelham Road

List - $4,850,000

Sale - $4,675,000 (96%)

Total Days on Market - 11

 

Total of 12 homes closed for over $2,000,000 during the month of August... 6 of these homes were built after 2005:

Glencoe - 1

Highland Park - 1 

Lake Forest - 2

Winnetka - 8

  

(There are currently 217 homes for sale over $2,000,000.)

       
Housing trend: Builders offer 'home-within-a-home' 

American homes are getting a little congested.  An estimated 51.5 million people live in multi-generational housing, which typically means three generations under one roof. That number is expected to increase as baby boomers get older. At least 10,000 Americans will turn 65 each day for the next 19 years, according to the Pew Research Center.

 

Whether to take care of elderly parents or just to make ends meet...

 
Declutter Your Life
If your home is starting to feel like the "before" scene from an episode of Hoarders, it's time to declutter. Think about what you'll gain by getting rid of stuff you no longer need, want or love: more space, and less stress about the mess or about how much money you've spent on impulse purchases.

Decluttering will make moving or downsizing easier... 

(And check out my Site To Be Seen at the bottom of this newsletter. I refer The Organizing Girls to my clients -- they're great!)
  
Home Energy Jumpstart Program
 
Owners of single-family homes, two-flats and individually-metered condos and townhomes can reduce their energy and water use with free installation of these products. Renters are also eligible, with permission from the owner.

 

Learn more at North Shore Gas.

   
 
"We put our house on the market recently. This was our first home, which we've lived in for more than a decade, so we expected to invest a lot of time cleaning, organizing and making some minor repairs that we'd been putting off. Here's what we didn't see coming...."
     
Featured Listing

501 E. Washington Avenue, Lake Bluff

 
What a fabulous location for this terrific East Lake Bluff home.  With a 5 minute walk to the beach and a 7 minute walk to the train, this delightful home provides a beautiful, private yard in a cul-de-sac like setting.  Newer kitchen, second floor laundry, lots of great living spaces and a 2 car ATTACHED garage!   
 
For all the details go to  501 E. Washington Avenue

List Price: $669,000
5BR/2.1 Baths
    
As summer turns to fall, the number of days left for alfresco dining also start to dwindle as well.  Check out Chicago's Hottest Food Neighborhoods!!! 

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!

  

Wishing all of us a beautiful Fall!!!!

 

Ann 

 

R. Ann Jones,

Broker Associate 

Prudential Rubloff Properties

 

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Sites To Be Seen

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.