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


I trust you all had a wonderful Thanksgiving.  I was looking at Facebook and was so intrigued to see how everyone celebrated this year!  

As the festivities begin for the month, real estate is starting to slow down a bit.  There are still buyers out there -- I find that December buyers are pretty motivated and quite serious about buying something before the end of year.  While a lot of sellers take their houses off the market, those that stay listed tend to get good results.  (Check out the article, 10 Benefits of Selling Your Home During the Holidays.)

Hope you have enjoyed my blog series, Rocking the Ages.  I conclude this month with some final thoughts.  For those of you thinking about selling your house in 2015 -- you might want to consider the type of buyer, who might be interested and reviewing that age cohort.  I'm always amazed at how consistently, different age groups are as they approach house hunting.

You might have noticed that I have eliminated the photographs of high end sales -- if you're interested in seeing pictures of the house, check them out on realtor.com.  

In This Issue...
How's the Market
Just the Facts...

So How is the Market?   Read on....

Recently, there was a   interesting article in Crain's Chicago Business about how the market could be recovering more quickly. 

"...The problem is that household formation has not picked up since the recession as much as it usually would after a downturn. Many adults are still doubling up to make ends meet..."

North Shore's Highest Sales in November

Lake Forest - 1955 Telegraph Road

Original List Price - $8,498,000
List Price - $3,999,000
Sales Price - $3,999,000 (100% of asking)
Days on Market - 1503
Days on Market at Final List Price - 32 days
To see pictures and detailed information go to 1955 Telegraph Road, Lake Forest

Lake Forest - 111 Ridge Lane
 
Original List Price - $3,900,000
List Price - $3,500,000 
Sales Price - $3,262,500 (93% of asking) 
Days on Market - 171 days
Days on Market at Final List Price - 44 days
To see pictures and detailed information go to 111 Ridge Lane, Lake Forest

Lake Forest, 885 Woodbine Lane

Original List Price - $3,149,000
List Price - $2,749,000
Sales Price - $2,625,000 (96% of asking) 
Days on Market - 215 days
Days on Market at Final List Price - 41 Days
To see pictures and detailed information go to 885 Woodbine Lane, Lake Forest

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There are currently 189 houses for sale on the North Shore that are priced greater than $2M.   During the months of September and October, 8 houses closed in this price range:
Highland Park - 0
Winnetka - 1
Glencoe - 1
Lake Forest - 5
Wilmette - 1
Kenilworth - 0

Source: MRED (Midwest Real Estate Data) Multiple Listing Service
Christmas house
10 Benefits of Selling Your Home During The Holidays
It's the most wonderful time of the year... to sell a house? 

There's always that question whether or not you should keep your house on the market for the holidays. You figure that potential home buyers will be preoccupied with buying gifts, planning parties, cooking meals, and visiting relatives; the last thing on their mind is searching for and purchasing a new home, right? For this reason, many home sellers choose to temporarily remove their home from listing, then wait until the new year to relist.

Downsizing
The Upsides of Downsizing
It can happen when the kids leave home or retirement looms or your first grandchild is born hundreds of miles away. You start to think about leaving a house that's now too big for you and downsizing to a smaller house or condo or a retirement community....  
 
Downsizing The Family Home: What To Do With All The Stuff?

Keep? Sell? Toss? These three options are ammo for the battle when clearing the family home after a parent leaves it.

Emptying a house full of memories and items takes an emotional and physical toll - especially if mom kept every one of her kids's finger paintings and....
Top 10 tips for downsizing

Whether you're an empty nester moving from a house into a condo, or a renter trading in a two-bedroom for a studio, you'll have to say sayonara to some of your stuff. Stressed out by the prospect? Don't be... 

  

Think eco
Finding the Best Ways to Cut Utility Costs

 

By now, we all are supposed to know that many devices like computers, printers, phone chargers and DVRs should be unplugged to save energy costs when we're not using them. And we also should be aware that properly adjusted thermostats can save money as well... 

big impact projects
9 Small Home Improvements with Big Impact
These home improvement projects, each costing less than $1,600, will enhance your home's appearance and boost its value....
 
The Hottest Home Amenity: In-Law Apartments
inlaws
 
Want to boost your home value? Invite your mother-in-law over. Why space for aging parents is a hot real-estate amenity now
gardening-items.jpg
For the Garden...

You can grow herbs indoors this winter and add that just-picked taste to your meals, even when snow is drifting up against the kitchen window. You don't even need special lights-herbs fare just fine in a bright window. Here are the best herbs for growing on windowsills and the smart techniques you need to keep them happy and healthy until you can plant outside again.

10 Best Herbs for Indoors

 

Events this month at the Chicago Botanic Gardens
For the full  December Calendar
December 13 - 14 - Breakfast with Santa
November 28, 2014 - January 4, 2015  -  Wonderland Express
Wonderland Express
Wonderland Express

As Christmas approaches, I am thinking about past Christmases.   My mother always made the season so memorable and festive.  Every year a jolly St Nick doll would be put on the piano, a little elf blowing a horn would be hung from the hall chandelier and the kitchen would smell great with cookies being baked.  We always had the annual ritual of waiting at the top of the stairs on Christmas morning until my folks were awake, dressed and had come downstairs.   Just to add to the suspense of it all (or was it to torture us?), my mother had to put on her makeup, make their bed and linger taking her time to get downstairs.  

However, my favorite memory is the Christmas Eve service at church with the high school senior girls dressed in angel gowns walking down the aisle in stocking feet and lighting the candles.  As they came into the darkly lit sanctuary, the choir would be singing Angels We Have Heard on High.   The church would become brighter as each candle was lit.   I remember being so awed by the magic of it all... and how proud I felt when I was a senior, and could light the candles!   I'm not sure they do that anymore... not enough seniors interested apparently... too bad... it was amazing. Ah, so many wonderful Christmas memories...

But Christmas for me is not about the presents and the parties.  It's about the magic and the beauty of it all;  it's about family and love.   

Here's hoping you and yours have a magical holiday season and a joyous new year!

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
Rocking the Ages Part 6 - final thoughts

"For those of you, who have been following my blog in the recent weeks, you have seen the series of articles ("Rocking the Ages") about marketing to different generations.  

I took the title for this series from the research project, Rocking the Ages: The Yankelovich Report of Generational Marketing..."

newspaper
In the news...
"Since the housing bust, renting has been in and owning a home has been out, especially among young adults who in earlier decades would have been first-time home buyers. As the rate of homeownership has declined, from a peak of nearly 70 percent in 2004 to a 20-year low of 64.3 percent recently..."

"Research indicates the rise and fall of real estate prices seems to shape the decision among homeowners on whether to have children...."
- NPR
 
"...They thought losing their home was bad enough.

Now, years later, collectors are coming after them for thousands of dollars in back debt..."

- CNN Money

 

"...First-time home buyers only made up 29% of sales of previously owned homes in October, the National Association of Realtors said Thursday.  

The share of those buyers has represented less than 30% of all buyers in 18 of the last 19 months, the trade group said.  

But chief economist Lawrence Yun said 2015 could mark a turnaround...."

Will 2015 be the Turnaround Year for First-Time Home Buyers?

- Wall Street Journal

 

"If first-time home buyers start saving for their down payment today, in 10 years they still won't have enough stashed away.

Stagnant wages and rising property prices don't bode well for first-time buyers who don't have equity or wealthy parents to help them out. It takes an average of 12.5 years to save up a 20% down payment..."

Saving for a down payment? It could take you until 2027

- MarketWatch

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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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