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How's the Market?
Real Estate News of Chicago's North Shore                                                                                                                                      July, 2014


Can't remember a rainier June in a long time.  My garden is so green and lush -- I haven't even had to bring out the watering can for the potted plants!  The mosquitos are starting to make an appearance.  For those of you looking for a more natural way to combat these annoying bugs, check out my friend's company, Mosquitnos.  

The housing market is moving along.  June was another busy month -- not quite as robust as May but still very good.  What I am seeing, though, is a rapid decline of "attached housing" on the North Shore: apartments, townhouses, condos, etc.  There appears to be somewhat of a shortage of these types of properties right now.  

I'm continuing my "Rocking the Ages" series from the Best of My Blog.   This month I share some thoughts about marketing to the Millennials.  It's funny when you start looking, there are articles all over the news about the effect of the Millennials on the housing market.  I cited a few of them in my "In the news" section.

It's during this the time of year,  I pause to reflect on our Founding Fathers who took the momentous step to declare their independence.  They took the amazing risk to pledge of "our Lives, our Fortunes, and our sacred Honor," to break away and create a new country.   It continues to inspire me that they showed so much courage -- for them I am ever grateful. 

 

Have a wonderful 4th -- let's hope for a drier July!

In This Issue...
Months of Inventory
Just the Facts...

During the last month, I have begun providing Weekly Market Snapshots of various North Shore Communities on my blog.  These snapshots provide a point in time review of the inventory levels in each community. 

Beginning this month, I am changing my format for the monthly, "How's the Market" series.  Check out the new format.  Let me know how you like it.

80 N. Green Bay
80 N. Green Bay, Lake Forest
North Shore's Highest Sales in June
 
Lake Forest - 80 N. Green Bay Road
  
Original List Price - $6,825,000
List Price - $6,625,000
Sales Price - $5,750,000 (87% of asking) 
Days on Market - 879 days
Days on Market at the Final List Price - 443 days
39 Indian Hill
39 Indian Hill Road - Winnetka
 
Winnetka - 39 Indian Hill Road
 
Original List Price - $4,100,000 
List Price - $3,700,000
Sales Price - $3,300,000 (89% of asking) 
Days on Market - 927 days
Days on Market at the Final List Price - 552 days


2736 Sheridan Road
2736 Sheridan RoadHighland Park

Highland Park - 2736  Sheridan Road
 
Original List Price - $5,499,000
List Price - $3,999,000
Sales Price - $3,200,000 (80% of asking)
Days on Market - 231 days
Days on Market at the Final List Price - 303

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There are currently 264 houses for sale on the North Shore that are priced greater than $2M.   During the month of June, 9 houses closed in this price range:
Highland Park - 2
Winnetka - 3
Glencoe - 3
Lake Forest - 1
Ft Sheridan and Glen
Why one suburban development soared, and the other staggered

Two decades ago, the Chicago area collected a pair of peace dividends from the detritus of the Cold War: vast tracts of land beneath what had been the Glenview Naval Air Station and the U.S. Army's Fort Sheridan. At the time, officials in the north suburbs described the decommissioned bases as places where civilian developments could prosper.

 

The sites wound up having divergent fates, and Crain's analysis of each illuminates some contemporary lessons in mixed-use planning....

laundry room
Top 10 Home Features Buyers Desire

What home feature do buyers desire the most?

A laundry room.

  

Although laundry is decidedly not an exciting chore, having a laundry room is a home feature buyers desire. They consider it the home feature buyers desirable the most, according to a....

 
laundry room
33 Coolest Laundry Room Design Ideas 
laundry room doesn't have to be that dull, boring place where you only go to throw your dirty socks and t-shirts. You don't need to be afraid of it. It needs to be comfortable, cool and pleasant and at the same time, highly functional. So if you're looking for design ideas to decorate the perfect laundry room, the list below should be of great help....
11 Essential Laundry Room Organizing Ideas

 

Laundry rooms are notorious for being cramped. If you need new inspiration for making over your laundry room, these laundry room ideas will help you save precious space and time.... 

 

Home Owners Love Their Green Homes
How satisfied are home owners who bought a green-certified home? A recent survey finds that green home the majority love their homes and would even buy another green home in the future.

 

According the report from GuildQuality, a customer surveying company for residential real estate, 94 percent of home owners who purchased a National Green Building Standard...

porch
15 Ways to Get Your Home in a Summer Mood
 
The days are lengthening; the nights are warmer - it's time to start thinking summer. From white curtains billowing in the breeze, sleeping porches, shell collections and wildflowers to fresh juice in the morning and nautical stripes, certain things just beg to be a part of your summer routine. Here are 15 fun, crafty and creative ways to get your home in the spirit of summer....
scam alert
Scam Alerts
During the last month I received a couple of things in my email about scams that are currently happening.  One is fairly serious and relates to wire transfers to the title companies.  If you're planning on wiring money in the next few weeks, you might want to read more. 

The other scam is regarding jury duty -- we received a letter from the police.  Click below to read more about these scams.  I guess there are always these types of people out there...  Just wanted to pass these along to you.  

gardening-items.jpg
For the Garden...

"There's certainly been a welcome groundswell of support for native plants among gardeners, landscapers and even nurseries. The benefits of going native are many: lower maintenance when properly sited, an increase in wildlife, support of pollinating insects that feed birds and provide us with one in three bites of food, improved soil fertility, water clarification and mitigated runoff." 

How to Find the Right Native Plant Native Plants for Your Yard

 

Events this month at the Chicago Botanic Gardens
July 5,6 -  Art Festival
July 16  -  Farm Dinners
July 26, 27 -  Herb Garden Weekend
 
The Garden Conservancy Open Days, where private gardens are open to the public. Coming up: 
Hope you have wonderful summer days ahead.  Check out these 3 nearby destinations for a quick escape!

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


Ann Jones

Broker Associate, 
Berkshire Hathaway HomeServices KoenigRubloff Realty Group


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Happy 4th of July!
Featured Listing
5430 Fairmont Road
Libertyville
5430 Fairmont

WOW -- what an amazing value this home presents. Vacation at home as you enjoy this stunning Chic Martin 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: $1,295,000
6BR/5.2 Baths

See the details at:
Best of My Blog
the millennials
"They are called, among other things, 'millennials.' There are about 80 million of them, born between 1980 and 1995, and they're rapidly taking over from the baby boomers...

They were raised by doting parents who told them they are special, played in little leagues with no winners or..."

newspaper
In the news...

"First-time home buyers haven't been much help in the housing recovery, but it isn't because young adults stopped aspiring to become homeowners..."

- MarketWatch

 

"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..."

Watch millennials apologize for delaying the housing recovery

- Housing Wire

 

"As a baby boomer myself, I'll confess to feeling a bit like, enough with all this talk about the Millennials already. But the reality is, those born roughly between 1982 and 2001 form a demographic cohort of some 80 million Americans. So it's not surprising that U.S. cities are paying..." 

What Millennials Want-And Why Cities Are Right to Pay Them So Much Attention

- The Atlantic Cities

 

"Millennials make up a third of the United States' population, and are changing the residential real estate market. Worries that the younger generation-purveyors in the sharing economy and perceived to prefer renting to buying-don't want to buy homes are dissipating..."

Millennials Most Interested in Luxury Real Estate 

- Epoch Times

  

"...One in five people in their 20s and early 30s is currently living with his or her parents. And 60 percent of all young adults receive financial support from them. That's a significant increase from a generation ago, when only one in 10 young adults moved back home and few received financial support..."

It's Official: The Boomerang Kids Won't Leave

- New York Times   

  

"...Homeownership among Americans under age 35 hit the lowest level on record earlier this year, just as indebtedness ..."

Student Debt Takes a Toll on Some Home Buyers

- Wall Street Journal  

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diving-board-child.jpg "Summer afternoon... to me those have always been the two most beautiful words in the English language." 
- Henry James

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.

Ann Jones | 847-691-1111 | [email protected] | rannjones.com
778 N. Western Avenue | Lake Forest, IL 60045

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