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How's the Market?

Real Estate News of Chicago's North Shore   

March, 2014 
In This Issue
Loving Lake Forest
In the news...
Just the facts...
Highest sales in March
7 Spectacular Spring Trees
Builders show off New Products
15 houseplants to improve air quality
Men, Women Dig do Digs
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Best of my Blog 
Love where you live

February, 2014

I love Lake Forest
... I thought I would share a love story -- my love affair with Lake Forest.  I know that there are so many wonderful communities on the North Shore, so this is not to say that I don't also love the...
In the news...

"One of the worst things a home seller can do when listing a home is price it too high.

Why? Because when a home sits on a Multiple Listing Service for months, and undergoes a few price cuts, prospective buyers will suspect there's something wrong with it. And those who...."

Why some homes have a secret 'For Sale' sign

- MarketWatch

 
"Subzero temperatures and heavy snows in January may have kept children home from school, but they didn't freeze the Chicago-area residential market...." 

Residential market stays warm despite Arctic weather

- Crain's Chicago Business

 

"The upper reaches of the metro-area housing market did mighty well in 2013: 2,037 million-dollar-plus properties sold last year, 33 percent more than in 2012. (That compares with 23 percent more properties sold overall..."

- Chicago Magazine
 

"In an effort to simplify the nation's unwieldy tax code, Rep. Dave Camp is socking it to homeowners. His proposal as chairman of the House Ways & Means Committee, The Tax Reform Act of 2014, hits first-time home buyers, jumbo mortgage seekers, homeowners who have ratcheted up big gains in their primary residence, and even homeowners who are aiming to green their homes by making them more energy efficient..." 

Camp Tax Plan Hits Homeowners, Real Estate Industry Hard

- Forbes

 
Step of the Month
50 Simple Steps you can take to Sell Your Home
#7 Paint your interior white (I would argue a neutral color is OK as well!)
   
crocus in snow
"It was one of those March days when the sun shines hot and the wind blows cold: when it is summer in the light, and winter in the shade." 
The countdown begins....
...Watch this space


Welcome back to "How's the Market?"   

I was stunned to wake up and see fresh snow on the ground, AGAIN.

I can't remember a winter like this one in a long, long time.  Snow, freezing, snow, freezing, rain, snow... I am so ready for spring as I am sure you are as well! 

I think the real estate market is looking for good weather as well. As you can see from the high end sales, things have cooled off a bit from 2013.  I don't think the market is down; it's just hibernating for a few weeks until Spring.  
 
Stay tuned and let's see what happens in March.  All signs are positive!
 
Just the facts...

So how is the market?  In one word - resting. After a vibrant 2013, the inclement weather has let the market rest for a little bit.  That said, all indications are that we are poised for a terrific spring market.   

 

Read on:

 

 
The North Shore's Highest Sales in March
205 Melrose, Kenilworth

 

Kenilworth - 205 Melrose Avenue

List Price - $2,495,000

Sale - $2,250,000 (90%)

Total Days on Market - 191

 

Wilmette - 1224 Grant Street

Original List Price - $2,050,000

List - $1,895,000

Sale - $1,725,000 (92%)

Total Days on Market - 201

Total Days on Market at Final List Price - 93 

Was also on the market for 331 days in 2011 at $2,199,000

         

Lake Bluff - 1010 Green Bay Road

Original List Price - $2,595,000

List - $1,895,000

Sale - $1,725,000 (91%)

Total Days on Market - 752

Total Days on Market at Final List Price - 8

  

Total of 1 North Shore homes closed for over $2,000,000 during the month of March:

Kenilworth - 1

(There are currently 139 homes for sale over $2,000,000.)

       
7 Spectacular and Practical Spring-Flowering Trees

 

The flowering cherries of Washington, D.C., the redbuds around Lake Michigan, the saucer magnolias of the San Francisco Bay Area - wherever you live, there's probably a blooming tree that spectacularly announces that spring is here or at least is on the way. Most of these are treasured trees, the result of centuries of development by horticulturists around the world.

Considering one for your garden? It goes without saying: Do your homework. A flowering tree is a major....

 
Builders Show Off New Products
outdoor kitchen
Home prices aren't the only thing rebounding amid the housing market recovery. Hundreds more home products were on display ... at the annual International Builders' Show in Las Vegas as builders, designers and architects prepare for a year of increasing construction, remodeling and home sales....

  
15 houseplants to improve indoor air quality
houseplant
In the late 1980s, NASA and the Associated Landscape Contractors of America studied houseplants as a way to purify the air in space facilities. They found several plants that filter out common volatile organic compounds (VOCs). Lucky for us the plants can also help clean indoor air on Earth, which is typically far more polluted than outdoor air. Other studies have since been...

   
love a house image
 
"So, you've got it bad for "the one" - you know, the one that keeps you awake at night fantasizing about the day when you can be together.

Wait a second. We aren't talking about that one - we're referring to a different kind of love affair: a "home crush." If you've found yourself swooning over a house you just can't get out of your head, you're not alone..."

     
5439 Fairmont
Featured Listing - currently exempt 

5430 Fairmont - Libertyville

 
Vacation at home as you enjoy this stunning custom designed house -- with higher ceilings, gorgeous millwork and open floor plan. This home provides a terrific layout for both living and entertaining. Luxurious master suite with fireplace. Gorgeous landscaping and pool. Private suite with own entrance can be used for home office, nanny or in-laws. Finished English basement. Amazing storage and closet space.

List Price: $1,395,000
6BR/5.1 Baths

The property will be coming on the market in March.  If you would like to make an appointment to see it, contact me. 
    
Final thought... I saw a listing canceled in the Multiple Listing Service (MLS) this morning.  It was for a very nice house in a great location.  I was impressed at all the work that the agent had done to market the property.  The house was stunningly staged and beautifully updated. Almost every element was in place for the house to sell quickly. But after almost a year on the market, it still hasn't sold. 

Why?  

In my opinion, the one element that was off was price.  I think the house was overpriced by at least $300,000.  The wrong buyers were looking at the house.  At its price, the buyers were expecting more and the house was coming up short.  In my opinion, if the house had been priced correctly it would have sold in a week.  It is a great house!

If you are thinking about selling your home this spring, I can't overstate: Price matters.  It's the Price That Sells the Home

Just something to think about...

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 Spring -- finally! 

 

Ann 

 

R. Ann Jones,

Broker Associate 

Prudential Rubloff Properties
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Sites To Be Seen
wren eco site

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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.