Chicago's North Shore - North and Northwest Suburbs Real Estate

Come out to Skokie Illinois this weekend, May 19, 2012 & May 20, 2012,  from 11am to 7pm for the Skokie Festival of Cultures!

Since its inception in 1991, the Skokie Festival of Cultures has become one of the premier ethnic festivals in Illinois, attracting more than 380,000 visitors and dozens of cultures, all representing Skokie's tremendous diversity.

Please join us for this free 'Tour of the World,' where you and your friends and family will enjoy two days of ethnic folk music and dance, a wide range of food, unique arts and crafts, international children's games, a merchandise bazaar, and dozens of cultural booths and displays. and we'll have Schaefer's International Beer Tasting! Only  $10 for six international 3 ounce beers and a free beer mug!    This is a great family event that will have everyone wanting more! Plus, it has FREE ADMISSION!!!

The Skokie Festival of Cultures is a winner of state and national art event programming awards and is supported by the Illinois Arts Council — as well as by local public agencies, service groups and corporate sponsors.

Last year more than 32,000 attended the 21st Annual Skokie Festival of Cultures on a bright, sunny May weekend.The new Laotian culture joined 33 other ethnic communities.

Thanks skokieculturefest for the info on this awesome family friendly event!

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A recent Wall Street Journal article was addressing the housing market, they gave some great reasons as to why now is the time to buy a new home.   Here are some of the reasons we agree on for buying a North Shore home now:

10. You'll get a better home. In sothe current inventory at around 4 million homes. That's enough for a years worth of sales. That means a lot of choices as well as great prices.

8. Sooner of later, the market will improve. There will be more demand than supply. The population is supposed to grow by more than 100 million people over the next 40 years. That means a lot of people will be looking for new homes in the future.

7. Your home isn't the stock market and it shouldn't be viewed as a way to get rich. Real Estate prices will go up again. Equity in your home is another way of investing in your future.

6. If offers some inflation protection, especially if you are young and raising a family.

5. It will be yours. You can have the kitchen and bathrooms you want, you can move walls or build an extension. You can even paint your home bright red. Few landlords will allow you to do that.

4. It's a buyer's market. We all like a good deal, we feel a sense of satisfaction after negotiating.

3. It's forced savings.  If you rent an apartment for $2000/month instead of buying one for $2400/month, renting seems like a good idea but will you save the $400 for the future? Most people won't and since part of that monthly payment as an owner is tax deductible, you do the math.  You are just paying yourself by building equity in your home.

2. You'll save on taxes. You can deduct mortgage interest and real estate taxes from your income taxes.

And the #1 reason is...

1. Mortgages are cheap. Interest rates are low. Two years ago they were around 6.3%. Now they are around 4.3% for a 30 year fixed loan. That's a big difference in your monthly payment.  When inflation goes up, interest rates will go up.

Can you think of any other reasons to buy?

I can. Landlords raise your rent every year. That increase could be used towards a tax deductible mortgage.

What are you waiting for? If you're thinking of buying, now is the time to buy!! Contact me on how I can help!

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Do you need a break from your busy work schedule? This Chicago North Shore event is the best!  Come relax Friday, May 11th at 12pm.  Enjoy a 45-minute dance performance at the North Shore Center for permoring arts in Skokie, while you eat your lunch! Bring your own brown bag or buy a show/lunch ticket that includes one of three sandwich options (plus chips, cookie and beverage) from the Corner Bakery. Beverages also available for purchase separately for those without lunch tickets. Box Lunch options include:
Turkey Swiss Sandwich-Chicken Pesto Sandwich or Tomato Mozzarella Sandwich.

There is also a family Performance Saturday, May 12, 2012 at 2:30pm Ticket are on sale now for just $10 and lunch plus show tickets are only $20! Make sure you reserve your seat now!

Making their North Shore Center debut, DanceWorks Chicago is led with skilled artistic direction to fill a niche in the Chicago dance ecosystem where dancers feed their technical capabilities as well as their artistic curiosity. Muntu Dance Theatre is the largest African dance company in the United States. The company is highly regarded for its innovative repertory and preserving traditional African dance while creating new works that build on African, Caribbean and African-American cultural traditions.

Thanks cnscvb for the info. This is one great North Shore event!

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While the Chicago real estate market is picking up, there are many homes for buyers to choose from. The key is to make your home stand out, but how would you differentiate your home to attract buyers?

I have had many of my seller clients prepare "Top Ten Reasons Why We Love Our Home" Lists. It can also help if a seller writes a "Seller Love Letter." Both express the love the seller's family has had for the home and explain the facts and events behind their feelings.

Buyers like to hear about sweet, fond family memories about a property, which is better than a home filled with tragic stories or sadness regarding a short sale or foreclosure.

Other good ideas to include in these lists/letters are:

1) Favorite neighborhood restaurants, dry cleaners, house cleaners, landscapers, carpet cleaners.  

2) Local dog parks, playgrounds, running trails, yoga studios, health clubs, libraries, bookstores, museums and other recreational activities.

3) History of upgrades, a landscape plan.

4) Neighborhood activities, positive stories of strong community relationships.

In such a competitive market, it's always a good selling point to share happy memories and logistical information. Buyers sometimes get weary of dealing with bank sellers or stressful short-sale situations.

We would love the opportunity to help you sell your home and provide you with more seller tips, please do not hesitate to give us a call. We'll get the job done!

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Don't spend your weekend sitting around your home, get out and enjoy some local entertainment! Enjoy your Friday or Saturday night watching [title of show].  That is the title! It is being performed at the Northlight Theatre,  9501 Skokie Blvd Skokie, IL 

Jeff and Hunter, two struggling writers, hear about a new musical theatre festival. However, the deadline for submissions is only a mere three weeks away. With nothing to lose, the pair decides to try to create something new with the help of their friends Susan, Heidi and Larry on the eighty-eights. With the cast in place, Jeff and Hunter begin a conversation about what to write about. Eventually, Jeff suggests they write about what to write about. They make a pact to write up until the festival’s deadline and dream about the show changing their lives. [title of show]—taken from the space on the festival’s application form which asks for the [title of show]—follows Hunter and Jeff and their friends on their journey through the gauntlet of creative self-expression.

In the span of 90 minutes they write and perform their show at the festival and learn lessons about themselves as people, friends and artists. [title of show] is, above all, a love letter to the musical theatre—a uniquely American art form—and to the joy of collaboration. The musical received a Tony Award® nomination for Best Book of a Musical in 2009.

Tickets are on sale now starting at just $25! Save time, for your convenience you can purchase them here!

Thanks cnscvb for the info on the fun performance in Chicago's North Shore!

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Spring is in full swing and now is the time to invest in a well-lanscaped yard for your North Shore Chicago home. It creates curb appeal and helps your property retain maximum value when you choose to sell it.

A beautiful yard is a head-turner, no doubt about it. The good news is that even if you can’t tell a tulip from a turnip at the garden center, you can still create eye-catching curb appeal by paying attention to the basics of good landscaping. Ignoring your yard—or doing something that’s out of character with the neighborhood—can jeopardize the assessed value of your home. Poorly maintained landscaping can be as much as a 5 or 10% deduction in its value.

Appraisers are quick to praise the allure of a well-tended lawn and good-looking landscaping when it comes time to sell your home, but most do not assign any specific increase in monetary value for upkeep.
 
Nevertheless, most professionals agree that curb appeal and a well-maintained appearance prevent your property from losing value. Here are the top suggestions from real estate agents, appraisers, and landscape designers for boosting the curb appeal of your yard:

Green up the grass

If your house has a front yard, make sure it‘s neat and green. You don’t want bare spots, sprawling weeds, or an untrimmed appearance.

It’s very simple to go to Home Depot, buy fertilizer, apply it every six weeks, and water it. This easy maintenance will keep your yard looking green and beautiful.

If the yard looks really scruffy, you may decide to invest in some sod. According to the National Gardening Association, the average cost of sod is 15 to 35 cents per sq. ft. If you hire a landscaper to sod your yard for you, labor will add 30% to 50% to the total cost of the project. 

Another alternative is to plant low-maintenance turf grasses. Turf grasses are durable and drought-resistant. Expect to pay $18 to $30 for enough turf grass seed to plant 1,000 sq. ft. of lawn area.

Add colorful planting beds

Flower beds add color and help enliven otherwise plain areas, such as along driveways and the edges of walkways. In general, annual flowers are a bit cheaper but must be replaced every year. Perennials cost a bit more but come back annually and usually get larger or spread with each growing season.

If you’re not sure what to plant, inquire at your local garden center. Often, they’ll have a display of bedding plants chosen for their adaptability to your area. Also, they‘ll be inexpensive because they’re in season. Pansies are good in the summer, and asters and mums in the fall add vibrant color.

Add landscape lighting

For homeowners who have made a sizeable investment in landscaping, it makes sense to think about adding another 10% to 15% to the bill for professional lighting. You can’t see landscaping after dark, and buyers are not always looking at houses on a Saturday afternoon.

The cost of a system runs from $200 for a DIY installation to more than $4,000 for a professional job. If you‘re doing it on your own, the key is to light what you want people to see, such as mature trees and flowering shrubs. 

Plant a tree

The value of mature trees is particularly difficult to determine. Mature trees contribute as much as 10% of a $100,000 property’s overall value. In addition, a properly placed shade tree can shave as much as $32 a year on your energy bills. Expect to pay $50 to $100 for a young, 6- to 7-foot deciduous tree.

You can make your own initial assessment of the value of your property’s trees by visiting the National Tree Benefit Calculator. For example, a mature Southern red oak tree with a diameter of 36 inches in the front yard of a house in Augusta, Ga., would add $70 to the property value this year, according to the calculator.

In need of some ideas on how to use landscaping to make your home more inviting to buyers? Contact me today!

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Don't miss out on this Chicago Illinois event!  Make plans this weekend from 10:00AM - 5:00PM to head over to Chicago's Botanical Garden! Celebrating  their 12th year, the Antiques & Garden Fair continues to offer the best in classical and contemporary garden furnishings, botanical art, and home and garden design from more than 100 exhibitors from the United States and Europe. Honorary Chair and guest speaker David Easton is one of the world's most sought-after interior designers. While he has made his name as a new-classicist, his expertise in architecture and decoration is wide-ranging and ongoing.

Special Guest and guest speaker David Howard is former head gardener at Highgrove for H.R.H. The Prince of Wales. During his lecture, "My Gardening Life," Howard will take you on a journey of his 40 years of gardening in the U.K.Treasure Hunting in style! The Fair will be held in the beautiful Regenstein Center. There will be tents over the Esplanade and the Rose Garden as well as vendors in Burnstein Hall, Runnells and Searle Courtyards, Nichols Hall, Joutras Gallery, and the Greenhouse Galleries. Guests will find a variety of treasures in every price range.

One day pass is $17 at the door; $15 in advance for nonmembers; $10 in advance for members.  Tickets sell fast so purchase them quickly right here! 

Thanks cnscvb for the information on this awesome North Shore Event!!!

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Wondering why your North Shore home is still on the market when the neighbors are selling like hot cakes? Frustrated sellers will blame a bad market, and it's definitely a challenging one we're navigating now, but a savvy real estate professional will tell you that many times, a slow sale is often attributed to the listing price.

It comes down to a simple face, if a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and “shows” better than the competition, it will have a better chance of being sold quickly. The secret is perfecting a technique called comparative shopping!

Although comparing houses with different styles, square-footages and locations is challenging, real estate professionals still feel it’s one of the best methods to use when determining a home’s market value.

A responsible real estate agent will effectively evaluate a home’s worth through a process known as Comparative Market Analysis (CMA).Taking a look at assets, such as a swimming pool, bigger than normal living spaces, a fantastic view, adjacent city parks and other attractions, the agent will begin to compare your home with similar properties, called “comparables,” that have sold in the area within the last six months. Typically, it is a realistic price range that will ensure you top dollar and a reasonably quick sale.

However, factors such as the amount of time needed to sell your home can affect the agent's price recommendation dramatically.

Assuming you have sufficient time to market the home, here are a few small steps you and your agent can take to finding the right price for your property.

The best comparisons can be made with similar homes that have been sold within the last 45 days as opposed to the standard six months. Any longer, and other factors, such as the economy, could cloud your view of how much your home is really worth.

Another good benchmark is to review the selling prices of homes that have just been sold and are pending closes. Most MLS services provide information on deals pending that most real estate agents should be able to share with you.

A good rule of thumb before setting a price is to make 20 comparisons of comparable properties within a one-mile radius of your house. Once completed you can feel comfortable that the price you’ve picked is a good gauge of the home’s worth and won’t discourage qualified buyers.

Being open and honest about what you see as the home’s greatest strengths and biggest weaknesses will also help your agent get a better feel for how to best evaluate (or assess) and market your home. Think of your home as if you were the buyer. If your home is listed at the right price, you’re well on your way to a speedy and fruitful sale with the right real estate professional.

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Planning a date night this Saturday, the 14th  in Chicago's North Shore? If you don't have plans for what to do, make plans to bring your someone special to see a beautiful show. Natya Dance Theatre and Mordine & Company Dance Theater join forces in this daring, cross-cultural exploration. Journey with these two critically acclaimed Chicago dance companies as they bring together East and West to challenge preconceptions about culture, difference, and the experience of being human in these times.

"Pushed to the Edge" presents Bharata Natyam, a dance theater from India, as practiced by Natya Dance Theatre, and contemporary Western dance, as practiced by Mordine and Company Dance Theater.  They will be doing this one performance Saturday. April 14th at 8:00 PM. Located at Centre East Theatre in Chicago's North Shore!  Buy your tickets now for $30- $38 that you can purchase here.

 Don't miss out on this amazing performance!

Thanks CNSCVB for the info on this fun Chicago event!

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Finally, after so much searching you've found the home you've been dreaming of in Chicago's North Shore.  You know you will be expected to pay closing costs, but what exactly are these costs and what will you be expected to pay?

Typically, closing costs run between 3% and 5% of your loan amount, so if you're borrowing $100,000 you can expect closing costs of $3,000 to $5,000. If you're borrowing $200,000 you can expect closing costs of $6,000 to $10,000.

The smart thing to do is to obtain good faith estimates from two or three lenders and compare the costs. Then be prepared to ask the lender you choose to meet the best offer. Here are some of the items you can expect to find on a Good Faith Estimate:

~ Loan origination fee (1% of the amount borrowed, or $100 for every $10,000 borrowed)
~ Loan discount fee
~ Loan application fee ($75 to $400)
~ Points (to "buy down" the interest rate: between $100 and $300 for every $10,000 borrowed)
~ Lender's attorney fees
~ Buyer's attorney fees
~ Appraisal fee
~ Credit Report
~ Lender's inspection fee
~ Mortgage broker commission or fee
~ Tax service fee
~ Processing fee
~ Underwriting fee
~ Wire Transfer fee
~ Interest from the day of settlement to the date of the first mortgage payment
~ Private mortgage insurance premiums to protect your lender ($750 to $1750)
~ Hazard insurance premiums
~ Property taxes from the day of settlement to the end of the tax year
~ Settlement or closing/escrow fee
~ Document preparation fee
~ Notary fee
~ Title search and title insurance to protect your lender ($400 to $600)
~ Title insurance to protect you
~ Recording fees
~ Tax stamps
~ Pest inspection

Property taxes placed in an escrow account are one of the largest expenses at closing. The amount depends on the value of the house you buy and the tax rate in the town or county where the house is located. Many lenders require you to include a monthly estimate with your mortgage payments equal to 1/12th of your annual property taxes and homeowners insurance. For most people, this is easier than coming up with a large lump sum each year when taxes are due.

There is alot of information to take in, especially if you are a first time home buyer. Stay educated and don't be taken advantage of at closing, and don't go to closing unprepared. Choose a realtor that will walk you through the entire process who will educate you about the ins and outs of home buying! Contact us with any questions, we would love to help!

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