All About Illinois Real Estate

By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Can you believe that the 1st month of the year is only 7 days from ending?  Time really flies when you are busy trying to achieve your goals.  If you are thinking, planning or wondering if a change of residences is possible in 2023 here is some information to take into consideration if Oswego, IL is one of the places on your home search or you have a home in Oswego or surrounding towns.Current home inventory in Oswego as of 1/24/23:39 active listings40 under  contract listingsFifteen of the homes under contract are new construction with West Point Builders and D.R. Horton in production homes and McCue and Revolution Builders in the higher luxury end.One Million Dollar plus home is under contract after more than 100 days on the market!Currently their have been 7 closed home closings in  ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Compelling Real Estate Facts Nationally and in the North Shore There are more than the usual number of articles about the U.S. housing market right now. After two tumultuous years of a seat-of-your-pants ride, everyone has a say on where the market has been and where it's going in 2023.I find this reading engrossing but don't accept my word, have a look:  From the Federal Housing Finance Agency, an interactive chart that shows the top 100 U.S. metro areas and how they ranked in 2022. Eight of the first 10 are in Florida which is not surprising. What is surprising is that many areas that we were told are dying on the vine made the list The National Association of Realtors (NAR) released its list of "10 Housing Markets Expected to Lead the Nation in 2023." Interestingly, Florida does not ...
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By Randy Schulenburg, Schulenburg Realty, Inc.
(Schulenburg Realty, Inc.)
GREAT NEWS! This is an exciting real estate season for Buyers with little to no money down. The past couple years Buyers in this category were at a huge disadvantage as most homes for sale in the Chicago suburbs attracted multiple offers and sold at or above the Seller's asking price.  FINALLY the market is changing! It is now possible for Buyer's with little to no down payment to have a chance to buy a home and even negotiate to have the Seller pay for all or some of their closing costs! These loans are typically FHA/VA loans or Conventional loans with 5% down payment. Contact Randy@Schulenburg.com  for a FREE Homebuyer Consultation.  Trending News: 1st Buyer of 2023! The first home I sold this year was on January 2nd. I negotiated the Seller covering $5,000 towards closing costs for ...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
With all the Christmas decorations put away and holiday memories starting to fade let's look at the unofficial numbers for Oswego, IL single family home sales in December 2022:Closed Transactions - 42There were 48 closed transactions in December of 2021 as a comparison.  Considering the interest rate hike sales were not that bad.The breakdown of how prices ended up:List Price - 7Over  List Price - 7Less Than List Price - 18The slowdown continues as buyers stand back or out priced with current interest levels over 6.5% despite several weeks of interest rate declines.There are currently 43 available single detached homes available:New Listings - 7Reactivated - 1Price  Change - 1There are 10 Private Listings* in various showing availability.Homes under contract: 32Pending: 1Closed - Januar...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
There's nothing like a simple chart to show off some amazing statistics. Going from right to left, it's easy to see the remarkable changes in the real estate market since 2019. The numbers on this chart encompass all the data for Winnetka, Wilmette, Glencoe, Kenilworth, and Northfield combined:The upward trajectory of North Shore home prices has been relentless for the past three years. There are changes happening now that will affect these numbers but I believe they will not be daunting. By this, I mean that home prices will remain fairly steady or drop slightly as long as inventory continues to stay low. Many pundits are suggesting a recession or housing downturn will occur in 2023. The Federal Reserve chair Jerome Powell has said, "we're passing through a difficult housing correction...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in December 2022? WINNETKAClick here to see all Winnetka homes sold in December 2022Homes for sale:  16Private network homes for sale:  9Median price year-to-date:  $1,525,000 Current month's supply of inventory:  1.3See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in December 2022Homes for sale:  14Private network homes for sale:  15Median price year-to-date:  $900,000 Current months supply of inventory:  1.1See Wilmette homes for saleSee Wilmette condos for saleSee Wilmette townhouses for sale KENILWORTHClick here to see all Kenilworth homes sold in December 2022Homes for sale:  3Private network homes for sale: 7Median price year-to-date:  $1,958,000 Current m...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in December 2022 SOLD HUBBARD WOODS HOMES IN DECEMBER 1304 Asbury List price: $1,299,999Sold price: $940,000 (sold for land)Days on market: 155 1139 OakleyList price: $1,265,000Sold price: $1,175,000Days on market: 12 1485 ScottList price: $1,199,000Sold price: 1,189,000Days on market: 77 932 EuclidList price: $1,699,000Sold price: $1,825,000Days on market: 1 1189 AsburyList price: $2,125,000Sold price: $2,100,000Days on market: 17  NO NEW HUBBARD WOODS HOMES LISTED IN DECEMBER CURRENT HUBBARDS WOODS MARKETHomes for sale: 6Price range: $1,049,000 to $4,795,000Under contract/pending: 3Condos for sale: 0Year-to-Date median price: $1,620,000Months of inventory: 1.4 months Click to see all Hubbard Woods Homes for Sale  Sign up to get North Shore real estat...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
With the sharp rise in interest rates starting in 2nd Quarter of this year today's so many of today's buyers decided to put  their home searches on pause and see  if they could time the market.  In reality this will probably not work for the vast majority of buyers who are hoping to buy in 2023.Here is a real time line from a new construction home that was bought in July of 2000 - just over 22 years ago.  Their initial interest rate on their mortgage was 8.27%.A few years later, 5/18/01,  they refinanced to: 7.02% - meanwhile their home was slowly appreciating in value.The interest rates went down again and they refinanced in 1/23/03 for a rate of 6.13%.Almost 6 months later they refinanced again to a rate of 5.37% in 7/21/03.Their final refinanced was on 10/26/12 for a rate of 3.55%!So...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Newsletter   Dale Taylor - RE/MAX 10 Refer a Friend  Get in touch   December 14 2022 Wishing you and your loved ones a happy holiday season.     If there's anything you need in the coming weeks, please reach out. Newsletters Show More   Subscribe to Newsletter 2022 HOLIDAY CARD   December 14 2022...read more A HOMEBUYER'S GUIDE TO USING GIFT MONEY Are you expecting to receive down payment assistance from a loved one? Here's what you should know first. November 30 2022...read more HOMEBUYING: ACT NOW OR WAIT IT OUT? Before you make up your mind about purchasing a home, you should consider these five market and financial factors. November 16 2022...read more Reviews See all Reviews   Leave a Review   Dale was very helpful in helping us obtain our last home.  He was extremely knowledgeabl...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Dale Taylor RE/MAX 10 (708) 439-0165 4 Reasons to Hire a Contractor Remodeling your home can be a big (and stressful) undertaking. Fortunately, hiring a contractor who’s well-versed in the process can help alleviate some of that stress. If you bring in a contractor, be diligent in your hiring. Get referrals, compare quotes and interview several candidates to make sure you get the best fit for the job. Are you unsure how a contractor can help with your project? Here are four ways: READ MORE >> Refer a Friend Search Now! Request Report Featured Listings  20115 OVERLAND TRL, Olympia Fields, IL 60461  4146 APPLEWOOD LN Matteson, IL 60443  18906 QUEENS RD Homewood, IL 60430   FIRST-TIME HOMEBUYERS   Don't Let the Down Payment Get You Down It can be hard to save up for your down payment — es...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Dale Taylor RE/MAX 10 (708) 439-0165 Homebuying: Act now or wait it out? The housing market is always changing, so it can be hard to determine exactly when to buy — and when to wait it out. What if home prices or interest rates rise? What if lower costs are just around the corner? No crystal ball can give us these answers, but there are some factors you can take into account before making your decision. Are you hoping to buy a home soon? Not sure if you should act now or wait until next year? LET'S CONSIDER 5 FACTORS >> Refer a Friend Search Now! Request Report Featured Listings   20115 OVERLAND TRL, Olympia Fields, IL 60461  4146 APPLEWOOD LN Matteson, IL 60443  18906 QUEENS RD Homewood, IL 60430   FIRST-TIME HOMEBUYERS   Homebuyers: Don't Forget Closing Costs Closing costs, which con...
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By Dale Taylor, Realtor = Chicago Illinois Homes Townhomes Condos
(Re/Max 10 New Lenox Illinois)
Dale Taylor RE/MAX 10 (708) 439-0165 A Homebuyer's Guide to Using Gift Money Coming up with a down payment can feel like quite a hurdle. For millennials, who are currently the largest cohort of homebuyers, getting help with the down payment is fairly common — roughly 29% of younger millennials receive gift money from a loved one. Are you considering using gift funds during your homebuying journey? It’s important to understand the rules surrounding this strategy when applying for a mortgage. WHAT TO KNOW >> Refer a Friend Search Now! Request Report Featured Listings: 3631 216Th Pl, Matteson, IL 60443      20115 OVERLAND TRL, Olympia Fields, IL 60461  4146 APPLEWOOD LN Matteson, IL 60443  18906 QUEENS RD Homewood, IL 60430   FIRST-TIME HOMEBUYERS   5 Common Homebuying Misconceptions Do y...
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By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
The market  definitely slowed down in Oswego, IL with only 25 single detached homes sold in November, 2022 compared to the 50 homes that sold in 2021.  The breakdown of homes - List  to Sold in 2022 are as follows:List - 1Less - 13Over - 11Compare to 2021's List to Sale Price:List - 12Less - 19Over  - 19There are currently 53 homes available for sale as of today - 12/11/22.Starting at $216,600 for a 3 BR - 2 BA in Boulder Hill to a $1,975,000 6 BR - 5.2 BA on 5 acres in unincorporated Oswego on Stewart Rd.We  also have 5 homes over $1M in town for the luxury buyer that is in the market!With its small town lifestyle yet near three  of Illinois' biggest cities - Aurora, Naperville and Joliet - Oswego offers the best of both world's - easy access to big city amenities - easy transportation...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
2022 Year-End Winnetka North Shore Luxury Home Report This year, I'm using $5,000,000 + as the market for luxury homes in the North Shore. I previously used $2,500,000+ but prices have risen too much to include so many homes!Luxury sales also benefitted from the super hot market of the past two years. In 2016, I wrote: "The average market time for these homes to sell in 2016 was 262 days." Incredibly, in 2022, the average market time was 80 days. The range of times went from 5 days to 384 days. If it weren't for the outlier of 384 days, the average days would have been just 47 days. Eight of the homes shown below sold for a discount, one sold for full price, and one home sold for slightly over the list price. Seven homes were located in Winnetka, two in Glencoe, and in Wilmette.  North ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your North Shore Village in November 2022?Check out the median year-to-date number below where I've indicated where it was in January (in italics.)  Prices have risen considerably over 2022 and while most pundits don't think housing prices will rise, I'm pretty certain that in 2023 they will most likely remain steady.  WINNETKAClick here to see all Winnetka homes sold in November 2022Homes for sale:  23Private network homes for sale:  8Median price year-to-date:  $1,555,000 (was $1,330,000 in January)Current month's supply of inventory:  1.3See Winnetka homes for saleSee Winnetka condos for saleSee Winnetka townhouses for sale WILMETTEClick here to see all Wilmette homes sold in November  2022Homes for sale:  22Private network homes for sale:  6Median price year-to-date:  $...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka IL Real EstateNovember 2022There were 3 closed sales and one new listing in November. Of the 3 sold homes, one sold well below the list price, while the other 2 went over the list price. The one new went under contract very quickly. As long as inventory is this low, mortgage rates won't have too much of a damper for certain buyers. There were no new listings entered in the Private Network in November.  SOLD WINNETKA PROPERTIES IN NOVEMBER  260 WoodlawnList price: $1,100,000Sold price: $860,000Days on market: 126(This home sold previously in June 2022 for $945,000 after 7 days on the market) 1225 Pine List price: $1,795,000 Sold price: $1,800,000 Days on market: $1,800,000 110 N. SheridanList price: $1,995,000Sold price: $2,108,000Days on market: 5  NEW HUBBARD WOO...
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By Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy
(Napa Consultants)
As a luxury real estate marketing professional it is not uncommon to go through periods of time when inventory is scarce. However, there are alway ways to generate revenue during these times. Many of your client own multiple homes around the country and around the world. If you have been diligent in maintaining your database of contacts you can leverage this asset by helping your client choose a broker or agent in the towns where your client’s other homes are located when they are ready to sell. Generating referral fees in this manner is a great way to supplement your local practice.Setting up a section on your website or creating a subdomain that showcases your clients’ homes outside of your immediate market, and then sending out a message to your entire database of is a great way to d...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Glenview, Northbrook, Evanston IL Condo Report 2022 The three villages of Glenview, Northbrook, and Evanston have the largest inventory of condos on the North Shore. Wilmette has a good number but nearly not as many as these three.Many Winnetka, Wilmette, Kenilworth, and Glencoe residents have moved to these areas in search of one-level living that is in short supply.The three colored charts below show condo sales from 2019 to year-to-date 2022. There is nothing shocking about these numbers which, I believe, show a steady and robust market. Condo prices have risen particularly in 2020-2021. Also during those two years,  total sales rose. In 2022, sales dipped in Glenview and Evanston but rose in Northbrook. Days on market have significantly come down as well. The condo market in Wilmett...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in October 2022Most of the data below mirrors that of exactly one year ago - October 2021. The big change in home buying is the rising mortgage interest rate which, to date, has not impacted Winnetka and Hubbard Woods sales. The trade-off is the low inventory. Rising rates vs. low inventory and while the market is slightly cooling, clearly, low inventory is keeping prices high.   New Hubbard Woods Listings in October 888 Forest Glen - $1,049,000 1139 Oakley - $1,265,000 (under contract) 1225 Pine - $1,795,000 (under contract) 110 N. Sheridan - $1,995,000 (under contract)   Closed Hubbard Woods Listings in October 1044 Tower RoadList price: $650,000Sold price: $628,000Days on market: 6 1153 AsburyList price: $660,000Sold price: $760,000Days on market: 2...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What Sold in Your Winnetka North Shore Village October 2022The statistics in this report reflect sales in September 2022. Many of these stats are almost exactly the same as they were in March 2022, when the market was very hot and mortgage rates had not yet risen.There are a few notable changes in some villages from March until September: Winnetka's median price rose by 7%, Wilmette's median price rose by 6%, Kenilworth's by 31% (remember, a small village with fewer statistics), Glencoe's rose by 15%, and Northfield's was unchanged. The months-of-inventory numbers have stayed almost exactly the same, meaning that inventory is still very low. Mortgage rates (for a 30-year conventional fixed-rate) have increased by 87%. March rates were 3.875% vs. 7.25% today. This has not, as yet, impact...
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