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How's the Market?

Real Estate News of Chicago's North Shore   

February, 2014 
Happy Valentine's Day!
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In This Issue
App-titude
In the news...
Selling Step of the Month
Just the facts...
Highest sales in January
Costs to Decorate
Mortgage Broker vs Bank
Solar Power
How the rich sell real estate
Quick Links

Berkshire Hathaway HomeServices

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App-titude 
Chicago Botanic Garden
It took volunteers three years to enter the nearly 3 million plants that live at the Chicago Botanic Garden into its new app. Explore the garden with this on the go app.
 
In the news...
"You've heard the old saying - 'Location, location, location.'
The real truth is 'Location, condition, and price.' And price trumps every other factor.
Location affects the value of a home, but it's price that sells a home..."
 

"Would you trust a dual agent?

Dual agency occurs when the same brokerage firm-and sometimes the same real-estate agent-represents both the buyer and the seller in the same transaction. Dual agency can increase or reduce a house's sale price, depending on...."

How a Dual Agent Affects Sale Prices

- Wall Street Journal

 

"Warren Buffett has invested for decades in strong consumer brands-from Geico to Dairy Queen-counting on the power of a trusted name to move merchandise. Now, in a rare use of his holding company's name as a consumer brand, he's testing the ability of 
'Berkshire Hathaway'
to sell houses..."

Bloomberg Business Week

 

"The first words that come out my clients' mouths are, 'We'd love to have a real old house. We just can't find one,' " said architect Russell Versaci, who runs a Middleburg, Va.-based practice. "And the second thing they say is, 'We are so sick of McMansions. We just want to get out and get back ...' " 

- Wall Street Journal

 
Step of the Month
#6  Get Rid of All the Clutter
  
My most recent ad
January 2014 advertisement
   
"99% of failures come from people who make excuses."  
Presidents Day
 
View Previous News Letters
Ann Jones Header


Can you believe this winter?  I feel like it's been going on forever.  So many memories of other winters like this -- maybe some of you remember the winter of 1979, when we got a new mayor in the city because of the winter!  I wrote about it on my blog this week, Musings of winter...

Lot of action at my office these days.  The Koenig & Strey agents are moving into our Rubloff office this month as we begin the merge to become Berkshire Hathaway Home Services KoenigRubloff Realty. It's a long name, so we're all predicting what our nickname will become.  I predict BH -- I'll be curious to see what the market decides. 

Speaking of BH, I'm thinking about joining the Billion Dollar Bracket Challlenge....talk about March Madness.

Stay warm!
 
Just the facts...

The month January is traditionally a little slower than most.  I've been doing a number of showings with people who are planning on relocating to the area, but it seems like most people are hunkering down in this weather!

Rather than write an update, I thought I share the summary data that I received at a recent meeting.  It shows the actual stats for 2013 for the North Shore. 

2013 Sales Information for the North Shore 
 
The North Shore's Highest Sales in January

561 Circle, Lake Forest

Lake Forest - 161 Circle Lane

       (short sale, new construction)

Original List Price - $4,275,000

List - $4,749,000

Sale - $4,250,000 (89%)

Total Days on Market - 580

Total Days on Market at Final List Price - 305

     

Lake Forest - 41 S. Ahwahnee

List - $4,295,000

Sale - $4,150,000 (97%)

Total Days on Market - 6

 

Winnetka - 280 White Oak Lane

List - $3,395,000 

Sale - $3,100,000 (91%)

Total Days on Market - 23

 

Total of 8 homes closed for over $2,000,000 during the month of January:

Lake Forest - 4

Winnetka - 3

Glencoe - 1 

(There are currently 164 homes for sale over $2,000,000.)

       
How Much Does it (Really) Cost to Decorate?
Decorating a bathroom

"Surveys such as Remodeling magazine's "Cost vs. Value" report detail how much it costs to complete a variety of major popular home improvement projects each year, including the always popular kitchen and bathroom redos.

 

But those numbers don't reveal many of the additional expenses that give a room a truly finished look: a good paint job, built-in cabinetry, furnishings, carpeting, lighting, accessories, and so much more. Buyers and sellers who haven't recently decorated or remodeled have no clue how quickly...." 

 
 
Choosing Between Mortgage Broker and Bank
Choosing between bank and mortgage broker
"Disparaged by some as the bogeymen of the housing crash, mortgage brokers have taken a beating over the last few years.
 

With many having been dropped by the big banks in favor of in-house sales channels, and with their industry much more tightly regulated, brokers have seen their ranks so drastically thinned that, instead of controlling the origination market as they did a decade ago, they account for a slim 9.7 percent, according to ..."

  
Rise of Solar Powered Homes
  Solar Powered Home  
The count of homes powered by photovoltaic (PV) systems is rising. And while solar-powered homes remain a small share of the total housing stock, that share is growing through a combination of policy incentives and homebuyer preferences.
 
   
How the rich sell real estate
Wine rack  
"They've got wine cellars and they aren't afraid to show 'em. Sellers who downplayed their homes' luxury extras in the midst of the Great Recession - lest a whiff of Wall Street malfeasance offend potential buyers - are reversing that strategy, promoting their wine cellars, private elevators, and more.
 
As the property market slowly recovers, sales of million-dollar homes have been...."
     
1065 Cahill
Featured Listing

1065 Cahill Lane, Lake Forest

 
Located in beautiful Middlefork Farms, 1065 Cahill Lane is an elegant brick and cedar residence. Fabulous architectural details, superb millwork and finishes combine to create a both luxurious and comfortable home. 

The first floor provides vistas in most every direction and allows for outdoor living. There is a porch off of the living room and office as well as a beautiful patio off of the kitchen and family room. There is an elegant dining room as well as a first floor laundry. And what an outdoor living arrangement -- a gorgeous patio, exterior fireplace and kitchen.

Upstairs are 4 bedrooms and 3 baths. The master suite is gorgeous with fireplace and a stunningly beautiful, en-suite master bath. 

In the lower level are a media room, exercise room and additional bedroom/bath and a walk in cedar closet. 
 
For all the details go to 1065 Cahill Lane

List Price: $1,675,000
4BR/4.1 Baths
    
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!

  

Only 60 more days until April 1st.  Stay tuned.  

 

Ann 

 

R. Ann Jones,

Broker Associate 

Prudential Rubloff Properties

 

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Sites To Be Seen
Classy Chaos
One Magnificent Future
Looking forward to April 1st -- watch this space!

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.