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


Can you believe this weather... I am loving it.  Today, I'm thinking it might be nice to have a little rain, we've been having such a great July.

August is a month of changes -- kids off going off to college or starting new jobs.  Families taking vacations.  In general we continue to see real estate activity, but a little slower than the spring or the fall.  

I'm continuing my "Rocking the Ages" series from the Best of My Blog.   This month I share some thoughts about marketing to the Gen Xer's.  I think if you're thinking about selling your (larger) home in the next few years, this is the one group to really study.   I find that many of the buyers on the North Shore tend to be Gen Xers, so understanding their needs, wants and values can be pretty helpful in marketing your home.   

Hope you enjoy your August -- hopefully we'll continue with these beautiful days!
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. 

My How's the Market summarizes the activity for August.
529 Longwood
529 Longwood, Glencoe
North Shore's Highest Sales in July
 
Glencoe - 529 Longwood Avenue
  
Original List Price - $4,249,000
List Price - $3,900,000
Sales Price - $3,450,000 (88% of asking) 
Days on Market - 754 days
Days on Market at the Final List Price - 18 days
(Originally listed in 2008 for $6,250,000 and on the market for 600 days.)
620 Ash Street
620 Ash Street - Winnetka
 
Winnetka - 620 Ash Street
  
List Price - $2,950,000 
Sales Price - $3,200,000 (108% of asking) 
Days on Market - 33 days
Sold with 337 Cedar (additional PIN)


23 Old Green Bay Road
23 Old Green Bay Road Winnetka

Winnetka - 23 Old Green Bay Road
 
Original List Price - $2,975,000
List Price - $3,250,000
Sales Price - $2,985,000 (92% of asking)
Days on Market - 391 days
Days on Market at the Final List Price - 17
(new construction)

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There are currently 259 houses for sale on the North Shore that are priced greater than $2M.   During the month of July, 11 houses closed in this price range:
Highland Park - 1
Winnetka - 5
Glencoe - 2
Lake Forest - 1
Kenilworth - 1
cluttered closet
The Psychology of Clutter
What Different Types of Crowded Closets Suggest About Their Owners 

 

...Many powerful emotions are lurking amid stuff we keep. Whether it's piles of unread newspapers, clothes that don't fit, outdated electronics, even empty margarine tubs, the things we accumulate reflect some of our deepest thoughts and feelings.

 

Now there's growing recognition among professional organizers that to come to grips with their clutter, clients need to understand why they save what they save, or things will inevitably pile up again. In some cases, therapists are working along with organizers to help clients confront their psychological demons... 
remodel bathroom
Are these 7 home remodeling projects worth the money?

...However, many homeowners mistakenly think the cost vs. value ratio hovers at one to one, and whatever they invest into the project will be instantly reflected in increased value. Not so fast. Even the most valuable remodeling projects don't completely recoup the cost, according to Remodeling Magazine's annual cost vs. value report...   

 
attic remodel
Going Up? Attic Conversions Are Smart Remodeling Projects 
If you're looking to expand your living area, look up. Converting your attic to a bedroom, media hang, or playroom is a great way to gain space at significantly less cost than adding on. After all, you've got the walls, ceiling, and floor already in place.... 
deck
Evaluate Your House for a Deck

 

In the summertime when the living is easy, there's nothing quite like a deck for cooking out, entertaining, or simply relaxing. In addition to boosting outdoor living space, a deck can be an asset when you sell your home... 
A boutique farm in Back of the Yards
 
This urban farmer's domain is a 300-square-foot corner of a former meatpacking plant, where he cultivates microgreens for some of the city's top chefs and often rolls out his sleeping bag for the night.  (check out the video...)
burgler
6 ways to keep your home safe
The kids are on summer break, the sun is always shinning and nothing sounds more perfect than a family vacation. But before families pack up and hit the road, there are several precautions they should take to ensure their house and valuables are still there when they return.
home value
3 Steps To Buying A Home That Grows In Value

The housing market right now is a "crapshoot."

 

Economist Karl Case-co-founder of the heavily-followed S&P/Case-Shiller home price indices-told CNNMoney that today's housing market is nothing like the predictable pre-crash housing markets, where you could bank on small but reliable price appreciation every year....
gardening-items.jpg
For the Garden...

"...we can't forget the unwelcome intruders that tag along with the sunny summer weather.  Yes, we are talking about mosquitoes, and everybody knows that they can be a huge nuisance. However, using chemical products to keep them away is not on the top of everyone's wish list.  Read on for some ideas of plants that repel mosquitoes - naturally!" 

11 Plants That Repel Mosquitoes

 

Events this month at the Chicago Botanic Gardens
For the full August Calendar
August 9,10  -  Kite Festival
August 13  -  Farm Dinners
August 23, 24 -  Heirloom Tomato Weekend
Continue to enjoy your summer!

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
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
Gen X
"...Gen Xers learned that their parents were human and fallible ... Autonomy and self-reliance, rather than respect for authority, was a natural byproduct of the Generation X childhood...."
newspaper
In the news...

"...Good timing is not the age group's forte. Many took out mortgages just before prices plunged, making them the most disadvantaged by the housing crisis, while the 2008 stock-market slump dealt them a further setback. Only one-third of Generation X households had more wealth than their parents held at the same age, even though most earn more..."

- Bloomberg News

 

"Few people have been through as many economic ups and downs as the members of Generation X. Born between 1965 and 1980, any entered the workforce during the boom years of the Clinton administration-but then along came 9/11 and, a few years later, the Great Recession...."

10 things Generation X won't tell you

- MarketWatch

 

"You may have forgotten, but an entire generation exists in between the Baby Boomers and Millennials.

They are called Gen X, but they are often overlooked by pollsters, the media and just about everyone..."

Enough with Millennials. Here's what Gen X thinks

-  CNN Money

 

"...As a consequence of the Great Recession, Generation X lost the most wealth of any group...We found that between 2007 and 2010, they lost 45% of their wealth -- and they already had the lowest amount of wealth prior to the recession. But their median net worth dropped from $75,000 to $42,000, so many have experienced economic shock..."

 Why Generation X May Have Taken the Biggest Hit from the Great Recession

- FOX Business
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Step of the Month

50 Simple Steps you can take to Sell Your Home 

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"I just completed a long car trip on a Sunday in August with two small children, which believe me is enough to convince you that Samuel Beckett was right about everything."  - Lev Grossman
 

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 | ann@rannjones.com | rannjones.com
778 N. Western Avenue | Lake Forest, IL 60045

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