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How's the Market?

Real Estate News of Chicago's North Shore   

October, 2013  


In This Issue
App-titude
In the news...
Just the facts...
Highest sales in September
8 things that lower your home value
5 home improvements
Top 5 Energy Saving Tools
How long will it last?
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App-titude 
Property Evaluator
Property Evaluator is one of the most powerful real estate investment analysis software for the iPhone. After entering some information about the property, you can view performance projections that help you do a true apples-to-apples comparison between properties.
 
In the news...

"As entrepreneurs find success with their primary business ventures, many search for the proper investments for their profits.

- Entrepreneur 
 

"Cash buyers continue to drive the housing recovery, with higher mortgage rates leaving borrowers out in the cold.

According to the latest report from RealtyTrac, cash purchases accounted for 45% of the total residential property sales in August, up from ..."

- The Street

 

"Chicago's real estate market has undergone a major transformation over the last 12 - 18 months, with inventory falling and home prices rising across the metro area. The latest housing data bring mostly good news for homeowners. Home buyers, on the other hand, are facing increased competition for fewer properties. Here are the latest numbers and trends for the Chicago housing market...."

Chicago Real Estate: Winds of Change Blow Into Windy City, for the Better

- The Home Buying Institute

 

"If you've been thinking about taking the plunge and buying a home, the last quarter of 2013 might just be the time to do it..."

7 Reasons to Buy a House Before 2914

- US News and World Report  

 
Step of the Month
#2 Don't Lie About What's Wrong with Your Home
 
  

 

"There is something in October sets the gypsy blood astir: We must rise and follow her, When from every hill of flame She calls, and calls each vagabond by name." 
 
 
 
View Previous News Letters
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Wasn't September glorious?  I don't know if I can remember a prettier month than we just had.   I love this time of year -- the cooler nights, the clearer skies -- everything about autumn seems fresher and more uplifting to me. 

Regardless, I have to admit, it's been a slower month real estate wise. The housing market is a little confusing these days -- Summer was going gang busters and things have seemed to slow down a bit.  Did you see the recent New York Times editorial, "Who wants to buy a house?"  I thought it was good and pretty reflective of what's happening in the housing market.  

Also, I've added a new feature, "App-titude," to my newsletter.   There are so many terrific smart phone/pad applications out there, I thought would share a few of my favorites. Property Evaluator is this month's selection -- it's a terrific app for evaluating and comparing properties. Stay tuned for more favorites in the future! 
 
Just the facts...

New listings are appearing; prices are stabilizing and even going up in some of the North Shore communities.  We are definitely seeing a more robust housing market all along the North Shore.... in fact, we're actually seeing a seller's market in several of the communities.
 
 
The North Shore's Highest Sales in 
September

344 Ravine

Highland Park - 344 Ravine Drive

Original List Price - $5,650,000

List - $3,750,000

Sale - $4,000,000 (107%)

Total Days on Market - 267

Total Days on Market at Final List Price - 1

     

Winnetka - 74 Locust Road

Original List Price - $6,595,000

List - $3,995,000 

Sale - $3,975,000 (99%)

Total Days on Market - 932

Total Days on Market at Final List Price - 33


Lake Bluff - 701 Bluff Road

List - $2,900,000 

Sale - $2,800,000 (97%)

Total Days on Market - 91

 

Total of 11 homes closed for over $2,000,000 during the month of September:

Highland Park - 1

Lake Bluff - 1 

Lake Forest - 1

Winnetka - 4

Glencoe - 4

(There are currently 222 homes for sale over $2,000,000.)

       
8 Things That Lower Your Home Value 
As a home seller, you need to be aware what increases the value of your home. Perhaps more importantly, you need to know what additions and problems actually lower that value. With that in mind, here are eight value-decreasing things to watch out for. 
 
"Existing home sales jumped 4.2 percent in May, the highest level since 2009. This is just the latest sign that the housing market is finally making a comeback...

If builders are convinced it's the best time in seven years to start nailing up new houses, maybe it's time for the rest of us to think about investing some time and money into the old homestead. Perhaps we should fix up our houses to make them more comfortable, convenient and attractive, not only for our own benefit, but for ..."

  
Finding your Top 5 Energy Saving Tools from Com Ed
Finding your Top 5 Energy Saving Tips

   
How Long Will It Last? 
 
"It's a corollary of Murphy's law: When you are least able to afford a major expense (or when repairmen are busiest), something big is bound to break down. That's why housing experts recommend that you save 1% of the purchase price of your home annually (or $2,000 for a $200,000 home) for maintenance and repairs...."
     
Featured Listing

209 Maple Court, Lake Forest

 
Wow -- What a fantastic location for this wonderful East Lake Forest home.  Pristine views of the ravines grace most every room of the house with a beautiful deck and yard.  First floor living at its best with kitchen, family, dining, living room, office, first floor master suite and laundry/utility.  Three additional bedrooms are upstairs.  3 car garage. Enjoy this gracious living on a wonderfully unique cul-de-sac neighborhood in the heart of town!  
For all the details go to 209 Maple Court

List Price: $1,225,000
4/5BR/3.1 Baths
    
For those of you looking for added fun this October, take a look at some of the local orchards and pumpkin patches in our area.  

  

Happy October!  

As always, 

 

Ann 

 

R. Ann Jones,

Broker Associate 

Prudential Rubloff Properties

 




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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.