How's the Market?

Real Estate News of Chicago's North Shore June, 2014

Welcome Summer! What a beautiful weekend -- finally after this long, arduous winter, it looks like we're having some nice weather!

The housing market is also experiencing some nice weather these days. May was an incredibly busy month for everyone, so the spring market is picking up steam and trying to make up for the long winter.

As you know, during the housing crisis, discretionary moves declined quite a bit. The people who were moving by and large, had to move. With the improvement of the market, a lot of people are choosing to move and we're seeing all generations out there buying and selling. With this in mind, I thought I would write some articles about how to make your home appeal to different generations.

During the next few newsletters, I hope you'll take time to read my, "Rocking the Ages," series from the Best of My Blog. I cover everyone from the Baby Boomers to the Millennials. It has seemed to get a lot of interest based on the "hits" that I've had on my blog. Hopefully, for those of you who are thinking about selling their home, these profiles of potential buyers will help you get your house ready to meet your market!

In This Issue...

Just the Facts

North Shore's Highest Sales

Baths Edge Kitchens

5 Outdoor Improvements

Keep Water at Bay

For the Garden

Featured Listing

Rocking the Ages - Part 1

In the News

Just the Facts...

Thought I would give you the How's the Market report from BHHS-KR management rather than a detailed report this month.

How's the Market?

20 Fox LaneWinnetka

North Shore's Highest Sales in March

Winnetka - 20 Fox Lane

List Price - $6,700,000

Sales Price - $5,500,000 (82% of asking)

Days on Market - 142 days

301 N. Sheridan Road
Lake Forest

Lake Forest - 301 N. Sheridan Road

Original List Price - $5,499,000

List Price - $4,319,000

Sales Price - $3,900,000 (90% of asking)

Days on Market - 725 days

Days on Market at the Final List Price - 303

1045 Starr Road - Winnetka

Winnetka - 1045 Starr Road

List Price - $3,700,000

Sales Price - $3,550,000 (96% of asking)

Days on Market - 52 days

New construction

* * * * *

There are currently 252 houses for sale on the North Shore that are priced greater than $2M. During the month of May, 11 houses closed in this price range:

Lake Forest - 2

Wilmette - 1

Winnetka - 8

Baths Edge Kitchens for Most Common Remodeling Project in 2013

....Among remodelers responding to the 4th Quarter 2013 RMI survey, bathroom remodeling was cited as a common job during the year by 72 percent, followed closely by kitchen remodeling at 70 percent. Since the inception of the survey in 2001, bathrooms and kitchens have been jockeying for top spot on the most popular remodeling projects list....

The five hottest trends to introduce into your bathroom design in 2014.

As the place to enjoy some quiet time getting ready in the morning and the space we retreat to at the end of the day for a soak in the tub, the bathroom is a hub of activity in any home. Whether your bathroom needs a few updates or a complete overhaul, keeping the space up to snuff is one of the best investments you can make in your home, and 2014 is all about seamlessness, functionality and bold accents...

Bathtubs are out, big showers are in

The shower gets more use than the bathtub in many households. That's why some homeowners are ripping out their tubs completely, creating bigger showers instead...

5 Outdoor Improvements That Add Value To Your Home

If you haven't jumped on the outdoor living space bandwagon yet, now is the time.

"Next to energy efficiency, perhaps no other market trend is changing the landscape of new-home design than outdoor living...."

Survey reveals hottest outdoor design trends for 2014

Consumer demand remains strong for attractively designed residential landscapes that are perfect for entertaining and relaxing, according to the 2014 Residential Landscape Architecture Trends Survey conducted by the American Society of Landscape Architects. The survey also shows continuing popularity for both sustainable and low-maintenance design...

Keep Water at Bay

Here are 5 tips for protecting a home from water hazards.

There's no need yet to acquire an ark, but water certainly has become a bigger menace in many parts of the country. Even storms that don't escalate into the next Katrina or Sandy can still destroy basements, foundations, roofs, and interiors that once seemed immune to heavy rains...

For the Garden...

Most homeowners make mistakes in their yard. I sure have. Gardening and lawn care are full of crazy do's and don'ts, nature doesn't always cooperate and who has the time to make things perfect?

Here are seven of the biggest blunders people tend to make in their yards.

Events this month at the Chicago Botanic Gardens
June 7 - World Environment Day

June 8 - Model Sailboat Sunday

June 14, 15 - Father's Day Canoe Adventure

June 21 - Show of Summer -- I'll be there working at the garden -- hope to see you! Six Chicago-area garden clubs affiliated with the Garden Club of America (GCA) present the competitive exhibition, "Our Kind of Town" at the Chicago Botanic Garden. I'm helping with the Andersonville display!

The Garden Conservancy Open Days, where private gardens are open to the public. Coming up:

June 22nd - Gardens on the North Shore -- see the full schedule

Busy day ahead -- 4 showings at 3 listings -- the buyers are out looking; the renters are out looking. It appears to be a great time to be selling a house.

Hope you have wonderful summer days ahead.

As always, if there is any way that I can help you with your real estate needs, please call or email and I am happy to help!

Ann

Broker Associate,

Berkshire Hathaway HomeServices KoenigRubloff Realty Group

Featured Listing

209 Maple Court

Lake Forest

Nature abounds from this delightful East Lake Forest home. Nestled at the end of a premier cul-de-sac street, this house boasts gorgeous vistas from every room. Whether looking for that family home in a friendly neighborhood or wanting to downsize to first floor living, this impeccably maintained house fits the bill.

List Price: $1,225,000

5BR/3.1 Baths

See the details at:

209 Maple Court

Best of My Blog

Rocking the Ages: Part 1

Years ago, I was on the board of trustees for my alma mater. At one of the meetings, there was a guest speaker who discussed generational marketing by sharing the landmark study Rocking the Ages: The Yankelovich Report of Generational Marketing.

The purpose of the discussion was instructional: how does one appeal to the different generations. The message I never forgot was this.....

In the news...

"Demographers have used the image of a triangle or pyramid to describe the world's population: a large group of young people at the bottom, progressively fewer people in each succeeding generation, with a small number of very old people at the top..."

A Changing Shape in America's Age Distribution

New York Times

"You don't have to venture far to hear about how millennials are struggling in some fashion or other to join the American dream of homeownership.
Millennials, who roughly fall between the ages of 18-34, are cited as being one of the key roadblocks to a full housing market recovery..."

Watch millennials apologize for delaying the housing recovery

Housing Wire

"The local economy continues to rebound from a lousy winter, two economic reports indicated today, but employment remains weak..."

Illinois economy is nearly as good as it gets, but where are the jobs?

- Crain's Chicago Business

"You may think you're the one calling the shots about where and when you move next. You're wrong.

As it turns out, it's likely your kids are the ones pulling the strings."

Your kids decide when you buy a home

- Marketwatch