How's the Market?
Real Estate News of Chicago's North Shore                                                                                                                                  January, 2015


Happy New Year!  I hope the day has found you staying warm and feeling well in spite of the frigid temperatures and flu bug that seems to going around.  At least it's a beautiful sunny day!   Hope you're ready to begin anew and enjoy what's in store for 2015. 

Last month, I shared a sweet memory -- the Christmas tree at Marshall Field's.  This month, I shared another memory although I realize that the Blizzard of '67 wasn't so sweet, so now it's called a memorable moment.   Although, it was actually a sweet memory for me: it was the one and only time in my life that school was closed because of snow...the snow was simply too deep for cars, buses and even walking.  If you have a memorable moment for February, hope you'll share your photos or ideas!

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

So How is the Market?   Read on....

I've summarized 2014 and you can see how we did.
North Shore's Highest Sales in December

Lake Bluff - 733 Ravine Avenue

Original List Price - $9,900,000
List Price - $5,190,000 
Sales Price - $4,000,000 (77% of asking)
Days on Market - 483
Days on Market at Final List Price - 67 days
To see pictures and detailed information go to 733 Ravine Avenue, Lake Bluff

Winnetka - 465 Sheridan Road
  
List Price - $4,395,000
Sales Price - $3,766,607 (86% of asking) 
Days on Market - 19 days
To see pictures and detailed information go to 465 Sheridan Road, Winnetka

Glencoe, 67 Beach Road

Original List Price - $3,650,000
List Price - $2,895,000
Sales Price - $2,800,000 (96% of asking) 
Days on Market - 347 days
Days on Market at Final List Price - 13 Days
To see pictures and detailed information go to 67 Beach Road, Glencoe

* * * * *
There are currently 162 houses for sale on the North Shore that are priced greater than $2M.   During the month of December, 5 houses closed in this price range:
Highland Park - 0
Winnetka - 2
Glencoe - 1
Lake Forest - 1
Wilmette - 0
Kenilworth - 0
Lake Bluff - 1

Source: MRED (Midwest Real Estate Data) Multiple Listing Service
Real Estate Trends
21 Hot Housing Trends for 2015
Everyone wants to be hip, and the latest trends in design can help distinguish one home from another. And it's not all flash; many new home fads are geared to pare maintenance and energy use and deliver information faster. Here's a look at what's coming.
5 Housing Market Predictions for 2015

A new year is about to dawn-and the outlook on the housing market is definitely brighter. After all, 2014 was the best year in the U.S. economic recovery since the recession of 2008-2009.


 

With an accelerating economic recovery fueling job and income growth, prospects are good for homeowners and would-be home buyers...


 

Top 10 Hot Housing Markets to Watch in 2015

We're closing out the best year in the U.S. economic recovery since the recession hit in 2008. For the most part, the housing market has rebounded. And plenty of places are reaping the benefits.

 

Where can you find these hot housing markets? Realtor.com® Chief Economist Jonathan Smoke offered up his top 10 picks for 2015-the places where we can expect to see strong housing growth, affordable prices and fast-paced sales...

 

 

Avoiding Costly Home Damage From Winter's Cold

 

Residents around Buffalo, having endured a storm that dumped more than seven feet of snow in some places, are quite aware that winter is here. For many more, the storm should serve as a reminder that time is running out to prepare for the plummeting temperatures and icy conditions that lie ahead... 

15 new laws
Top 15 New Illinois Laws For 2015

The approach of the new year means the pending arrival of a batch of new state laws that go into effect January 1.

For Illinoisans who might be unaware of these new rules and regulations, the Illinois Senate Democrats released a slideshow, "Top 15 New Illinois Laws for 2015," which are easy to grasp and important to know...

Note: number 5 is going to affect home sellers -- they now need to disclose window and door damage...
Backyards Built for Winter Use
winter yards

Backyards built with infrared heaters, fire bowls, hot tubs and barbecue pits  make you forget it's winter...

gardening-items.jpg
For the Garden...

When the winter blahs set in and your dreaming of fresh greens from your summer garden, consider growing indoors. Not only do plants cleanse your household air and improve the aesthetics of any indoor space, they can provide your family with a wealth of yummy, organic foods. 

Indoor Gardening 101


It's January 1st.   There is something so exciting about the new year -- endless possibilities; hopeful thoughts and intentions.   

I'm looking forward to 2015.  15 has always been my lucky number, so somehow it feels good to me.

Here's hoping all your dreams come true and 2015 is splendid year for you too!

If I can assist you with your real estate needs, please don't hesitate to call.  

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:
Contingencies

contingencies
I was recently talking with a friend.  Her mother-in-law was selling her condo in another state, which shall remain nameless.  Suffice to say, it's a state in which real estate is generally sold without attorneys.  That is, real estate agents work directly with title companies and do many of the legal functions that agents in Illinois (by IL law) can't perform. 

Don't know the specific details of this transaction,  but apparently...
newspaper
In the news...
"This year, I sold one apartment and bought another. It was a reminder that the words "home" and "investment" don't belong in the same sentence.

Don't get me wrong: I'm all in favor of home ownership. The tax breaks are impressive. Home ownership forces us to save: With each mortgage payment, we whittle down the loan balance, so eventually we own a valuable asset free and clear. Most important, a home provides us with a place to live...."


"Middle-income families are unable to afford the median-priced home in just over half of the country's 25 largest cities, and in the least affordable metropolitan areas, they aren't even in the game.

Those are the results of Interest.com's 2014 Home Affordability Study, an annual look at how the cost of buying a home stacks up against income and expenses in the nation's metropolitan areas..."

- Interest.com
 
"Falling oil prices typically lead to lower heating bills and cheaper fill-ups at the gasoline pump. Less obvious to the average consumer is the role cheaper oil is playing in driving down mortgage rates.  It is a complicated and indirect link that will likely keep rates low well into 2015, economists say..."

- New York Times

 

Quick Links

Memorable Moments
Blizzard of '67
January 26, 1967
The Great Blizzard

Step of the Month

50 Simple Steps you can take to Sell Your Home 

#16 Take extra precautions if you have small children 
Ann Jones | 847-691-1111 | ann@rannjones.com | rannjones.com
778 N. Western Avenue | Lake Forest, IL 60045