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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 4
 WHAT YOU NEED TO KNOWABOUT EARNEST MONEYYou’ve just bought a new house - congratulations! So many things to think about, one of them being your earnest money. What is Earnest Money? Basically, your earnest money is delivered on or around the time you submit a contract to purchase your new home. It’s the way you say that you are serious about this house. Without a financial commitment, how does the seller know that you’re really interested in their home and not five others? How Much Earnest Money Do You Need to Put Down? This question will vary from state to state and even region to region. When I first started in the business in 1998, the earnest money was 10% of the contract price. With the huge increase in prices we saw running up to the recession, the number now hovers at around 3-5...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 14
Schaumburg maintains more than 1,100 acres across 100 parks, including nearly 300 acres of preserved natural areas throughout it's park district.The Spring Valley Nature Sanctuary, is a prairie wild life preserve and an indoor and outdoor museum. This is the place to rent snow shoes & take them for a spin if you've never tried them. Bison Bluff is a nature playground also located on the grounds. Also nearby is the Heritage Farm which is a fully operational farm right out of the 1880's. Kids are gonna love it! Horses, pigs, chickens are here for interaction.  (video from WGN-9).  The Park District also operates four community recreation centers, including the Water Works Oasis, a spectacular indoor pool facility.  The Sport Center which has indoor baseball, soccer fields and basketball c...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
HUBBARD WOODS March 2021The Hubbard Woods area is down to inventory that would only last 1.9 months if no new inventory came on the market. That’s called an extreme seller’s market. If you have any thoughts of selling - why wait? However, if you sell, you’ll become a buyer . . .  7 NEW HUBBARD WOODS LISTINGS in March 20211117 Merrill - $699,999 (under contract)     1299 Hackberry - $1,399,000      1140 Oakley - $1,649,900     986 Asbury Ct. - $1,699,900     1159 Chatfield - $1,799,000    1347 Scott - $1,949,000    1040 Hubbard - $2,599,000          New PRIVATE LISTING1340 Asbury - $1,939,000   4 CLOSED HUBBARD WOODS HOME SALES IN December 2020  979 VineList price: $479,000Sold price: $341,000 (short sale)Days on market: 986      1152 AsburyList price: $849,000Sold price: $901,000% of li...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
What Sold in Your Village in March 2021?See the number of under-contract homes in the data below - it is much higher than available inventory. All North Shore villages are experiencing low inventory and a seller’s market. Wilmette, Winnetka, and Glencoe have the tightest markets. The spring market has been exploding but we need more inventory!Here’s what closed in the North Shore in March 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes in March: 23 Homes for sale: 45Price range: $560,000 to $6,250,000 Under contract/pending: 61Current months supply of inventory: 3.6Winnetka Homes for SaleWILMETTE  Current Wilmette Real Estate Market:Sold homes in March: 40Homes for sale: 45 Price range: $389,000 to $2,350,000Under contract/pending: 78Current months supply of inventory: 3.5...
By David Ratowitz, Tax, Real Estate and Bankruptcy Law Firm
(Ratowitz Law Group)
Comments 0
Buying in short sale may offer the best opportunities in a decade because of the COVID-19 lockdowns.  The moratoriums on evictions and closures of small businesses have created a backlog of distressed property concealed by moratoriums on foreclosures.  As these moratoriums end with the easing of COVID-19 distressed properties will hit the market.Homebuyers and investors can save a lot of money buying a property in a short sale.  While this savings can be a tremendous, it is important to remember the buyer will earn this savings and must be prepared for the obstacles posed by a short sale.The opportunities buying in short sale are created because the lienholders agree to settle for less than the face value of the debt secured by the property.  That is a fancy way of saying everyone agree...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
Real estate watcher and market predictor Keeping Current Matters has published some valuable graphs that will allay some fears that consumers have. Fears that the super hot Chicago North Shore market will create another bubble - like the pre-recession period leading up to 2007-8.Covid is one factor which stimulated the rush to buy, but there were key characteristics of that period that are simply not present this time.   MORTGAGESMortgages were extremely easy to get back then and lenders were willing to take on high levels of risk. Not so now where qualifying for a loan is much harder.   HOUSING PRICES  Homes in Chicago's North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield are selling very quickly. But the pace of inflation is much lower. This graph shows ...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
In the olden days (maybe just a few years ago) homes for sale in the Chicago North Shore suburbs were plentiful and took a long time to sell. "Long time"meaning it was a buyer's market with homes generally taking longer than six months to sell. We are now experiencing a seller's market with the median sell time around three months. But most homes are selling more quickly.In a corona virus world where everything has gone tipsy-turvy the real estate market rebounded spectacularly. Currently (March 2021) inventory is low throughout Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield. Homes are selling within days of hitting the market, and in some cases, well before they become available on the Multiple Listing Service. Hot homes see frequent multiple offers.The real estate market expl...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 0
What Sold in Your Village in February 2021? Big storms and extreme chills kept buyers home - but just for a while. Now that March is here and we’re feeling the warmth, they are out pursuing their dreams of buying a home in the North Shore. Look at the current months-of-inventory shown below for each village. Winnetka, Wilmette, and Glencoe are under 4 months showing a strong seller’s market. Northfield is a seller’s market, and Kenilworth is not as strong but the number is more than half of what it was a few years ago.Here’s what closed in the North Shore in February 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes in February: 13 Homes for sale: 55Price range: $575,000 to $6,399,000 Median price ytd: $975,000Under contract/pending: 52Current months supply of inventory: 3.9...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 0
HUBBARD WOODS News February 2021 Inventory has been low - until February with the addition of 12 new homes for sale in Hubbard Woods. Good news: four are already under contract. And strangely, for those of us with devious minds, five of the homes are on Asbury. 12 (!) NEW HUBBARD WOODS LISTINGS IN February 2021  250 Woodlawn - $575,000          1124 Gage - $849,000         1371 Asbury - $849,000          1152 Asbury- $849,000 (under contract)        1255 Asbury - $949,000         1256 Asbury - $949,000 (under contract)        1409 Asbury - $989,000         1570 Tower - $1,150,000 (under contract)         792 Walden - $1,399,000        1015 Starr - $1,650,000 (purchased in September 2020 for $1,350,000 with the intension of tearing it down. The house is of some historic significance and ...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 6
WHAT IS A HOME WARRANTY AND HOW DOES IT WORK? WHAT WILL IT DO FOR ME AS A BUYER? A home warranty can give a purchaser peace of mind.  If anything catastrophic happens in the house, you are only financially liable for the deductible.  So if the furnace goes out one evening and you just can't get it going (as long as it is maintained and not abused) you would call the warranty company and they would send out a technician to fix/repair/replace the furnace depending on the problem.  So yes, if the furnace did indeed blow up (heat exchanger) you would get a new furnace of comparable quality.  You cannot choose the technician or company involved but for years my clients have used these warranties with no problems.  You just have to give up a little control with that extra peace of mind. What ...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 2
Elk Grove Village Townhome & Condo Search  Elk Grove Village townhome, condos, and 'better priced values' are currently being scooped up the fastest.  There are many great values to be had on the market right now.   The average list price in Elk Grove Village is $179,500 and there are many selections available in the most popular price range of $150,000 to $200,000.  The lowest price for sale right now is $94,900 and the highest is $479,900. Variety, styles and selections in each price range.    Looking to buy an Elk Grove Village Townhome and want to work with a seasoned agent that's familiar with the area like the back of her hand?    Search for Elk Grove Village Townhomes or Condos here.Hey Lyn, I'd like you to contact me by email as soon as you can!  We can get started right away!  ...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 1
 What Sold in Your Village in January 2021? The North Shore housing market is getting off to a solid start despite cold and snow. Inventory is down and most homes are selling quickly. I expect a robust and busy spring market that has already started. Most villages are experiencing a “seller’s market” which means that inventory is low and prices are rising (albeit slightly.)Here’s what closed in the North Shore in January 2021.WINNETKA  Current Winnetka Real Estate Market:Sold homes January: 16 Homes for sale: 55Price range: $449,000 to $24,795,000 (!)Median price ytd: $850,000Under contract/pending: 28Current months supply of inventory: 4.3Last January months supply of inventory: 7.3WILMETTE  Current Wilmette Real Estate Market:Sold homes November: 21Homes for sale: 50 Price range: $300...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 0
The Hubbard Woods real estate market got off to a good start this January. Lots of activity (not just here but the entire North Shore housing market.) Buyers are coming out earlier despite cold and snow and the current low inventory is spurring quick sales and higher prices. 3 NEW LISTINGS HUBBARD WOODS January 2021 1270 Forest Glen - $1,299,000         877 Boal Pkwy - $1,599,999        1035 Starr - $3,299,900 (closed in June 2019 for $3,040,000)         COMING SOON LISTINGS (In private section of MLS) 1371 Asbury - $849,000          1256 Asbury - $949,000         985 Vine - $1,250,000           1380 Scott - $1,839,000         7 SOLD HOMES JANUARY 2021 1555 TowerList price: $874,000Sold price: $762,500Days on market: 296      1270 ScottList price: $899,000Sold price: $811,000Days on mar...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 1
 Deferral Plan for Seniors in Cook County for 2020 Taxes The Cook County Treasurer has reinstated a loan program for Cook County Seniors. If you are 65 years or older with a household income is $55,000 or less, you can apply for the "Senior Citizen Real Estate Tax Deferral Program."  The loans issued through this program don't have to be repaid until the property is sold or the homeowner dies.  Click here to learn more and apply if you think you might qualify.  
By Haris Dedic, Glenview Real Estate - Chicago North Shore
(RE/MAX Villager 847-878-2588)
Comments 0
Morton Grove, Illinois CondosDrive by video of condos with price range. Morton Grove, IL Townhouses Drive by video with price range of townhomes. More about Morton Grove real estate can be found here. Check out home buying and home selling tips on my website.If you are looking to buy or sell a home, or purchase new construction in Morton Grove, IL or Chicago Northwest Suburbs, contact me today 847-878-2588 ! More About Haris Dedic.
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 3
 I've written several posts about the Covid-19 effect on North Shore housing in regarding to single family residences. But what about condo market sales in 2020 vs. 2019?Condo sales were not explosive in the same way that single family homes started selling in June of 2020 (after the lockdown was lifted.) In 2021 the North Shore Villages of Winnetka, Wilmette, Glencoe, Northfield, Glenview, and Evanston had a total of 1,020 condo sales. of that 1,020 - slightly more than half were in Evanston (533) Evanston had the lowest price condo sell for $63,000 Evanston had the highest price condo sell for $1,675,000  Here is a breakdown for each village's stats in 2020:  Glenview and Evanston have the lion's share of sales but those villages are larger, have more diverse zoning rules, and are des...
By Lyn Sims, Schaumburg Real Estate
(RE/MAX Suburban)
Comments 1
Autumn Ridge is considered one of the more upscale townhome communities in Schaumburg first developed in 1990 by Town and Country Builders.  When I first visited the subdivision many years ago it impressed me with the brick exteriors and it offered a ranch model which was in buyer demand but never built by most builders. Some unique features we have:   vaulted ceilings, full wall brick fireplaces, end unit upgrades, 1st floor Familyrooms, palladium windows, lunette windows, catwalk landing, whirlpools, skylights, fenced yards, patios. Another rarity at the time was that it also offered basements and buyer favored 2 car garages. Autumn Ridge has a total of 4 different floor plans ranging from 1464 to 1725 square feet.   Auburne   Ranch Style,1530 square feet, 2BR 2BA, Den.Claret    2stor...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 2
2020 North Shore Housing Review We all know what made 2020 a wonky year - so I won’t belabor that point. The result, however, was a roller coaster ride for the North Shore housing market.  The year started out as most do - cold and slow. Just when the spring market started to awaken, along came a virus that put it back to bed. And so it went until the end of May when the economy was partially reopened and the floodgates opened. From a serious oversupply of homes we now have too few homes for sale. From sagging prices we have seen prices rise and it’s not uncommon now to have multiple offers on some properties. So it went until the holiday season and now we’re back in a Covid Tier 3 situation. The lack of inventory will continue as some buyers and sellers are not comfortable with the hom...
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Comments 6
Should You Ever Skip Doing a Home Inspection? Skip the inspection? Why would anyone consider doing that? There are actually a few valid reasons where home buyers might pass on adding that contingency to their contract. I’ll discuss that later. But 99.9% of the time I would strongly recommend and urge buyers to perform an inspection on their newly purchased home. Why gamble with such a big purchase? The reasons for performing the inspection are key to owning a home: To discover latent issues that the home sellers weren’t aware of and thus could not disclose. A structural fault is an example that could be incredibly expensive to repair. The home sellers might not have noticed any water issues, but a thorough inspection of the roof might show that water has indeed been coming in.  To give ...

Cook County, IL Real Estate Professionals