Things are looking up! Sales for Winnetka, Wilmette, Kenilworth and Glencoe are definitely higher than comparable sales in May (see May Market Report.)
But if sales are up, what about prices? I've including something different in this report - the percentage of sale price to originallist price. Some of these homes came on the market pre-market downturn and are now selling at remarkably lower prices. New homes coming on the market now will not reflect the same % of list/sale price that these numbers reflect.
Winnetka- 21 Sales! (7 sales in 2008)
624 Willow $350,000 (81% of original asking price)
929 Tower 350,000 (61%)
1491 Asbury 460,000 (79%)
1107 Tower 520,000 (95%) on market for 9 days
329 Rosewood 554,000 (83%)
278 Ridge 875,000 (80%)
184 Old Green Bay 950,000 (86%)
1086 Spruce 962,500 (78%)
1250 Forest Glen S 1,025,000 (92%)
88 Indian Hill 1,095,000 (43%)
51 Warwick 1,170,000 (93%)
1426 Asbury 1,245,000 (89%)
130 Old Green Bay 1,422,500 (87%)
100 Church 1,450,000 (73%)
344 Locust 1,515,000 (76%)
1040 Oak 1,717,000 (94%)
400 Sheridan 1,800,000 (92%)
104 Longmeadow 2,000,000 (74%)
1090 Westmoor 2,250,000 (96%)
825 Glen Oak 3,240,000 (62%)
81 Locust 4,800,000 (74%)
Wilmette - 23 Sales!! (26 sales in 2008)
3303 Wilmette 221,000 (70% of original asking price)
322 Romona 330,000 (95%)
3112 Cranston 375,000 (51%)
1925 Birchwood 380,000 (76%)
208 Wood 390,000 (87%)
2124 Schiller 450,000 (86%)
901 Yale 467,500 (94%)
1614 Spencer 535,000 (82%)
514 8th 592,000 (76%)
835 Linden 614,000 (78%)
610 4th 630,000 (97%) on market for 14 days
1514 Lake 695,000 (87%)
1744 Central 712,500 (81%)
510 Washington 760,000 (90%)
1733 Washington 815,000 (94%)
1214 Glendenning 850,000 (85%)
245 Greenleaf 975,000 (93%)
1738 Highland 1,075,000 (96%)
2634 Laurel 1,087,500 (95%) on market for 8 days
715 Laurel 1,093,000 (91%)
221 Linden 1,215,000 (87%)
833 15th 1,450,000 (88%)
211 9th 1,597,500 (95%)
Kenilworth - 1 Sale (6 sales in June 2008)
713 Maclean 1,000,000 (93% of original asking price)
Glencoe -13 Sales - (20 sales in June 2008)
1030 Sheridan 565,000 (83% of original asking price)
550 Sunset 565,000 ((92%)
725 Apple Tree 615,000 (83%)
391 Adams 640,000 (92%)
477 Drexel 655,000 (90%)
500 Monroe 925,000 (95%) on market for 5 days
141 Euclid 1,025,000 (71%)
235 Mary 1,300,000 (79%)
266 Hazel 1,390,000 (50%)
1085 Beinlich 1,500,000 (79%)
1025 Eastwood 2,350,000 (87%)
263 Hawthorn 2,725,000 (85%)
399 Grove 2,950,000 (100%)
10 Lakewood 3,350,000 (64%)
I've noted above several properties in particular where the percentage of sale price was very high and market time very low - the desirable result when a house is priced correctly. I would go further and say that these houses were not only priced correctly, they were viewed as a very good bargain, the idea being that listing at or below market is the place to be.
If you are a seller who is "testing the market" you'll never sell because you are not motivated to price low enough. Although there are many factors that make a home sell quickly, I would argue that pricing properly gets the gold star.
It's time again to celebrate our nation's Independence Day on Saturday, the Fourth of July. This federal holiday commemorates the adoption of the Declaration of Independence on July 4, 1776 which declared independence from Great Britain. Since that day, Americans have hosted parades, fireworks, picnics, and barbecues.
10:00 am: The parade begins near the corner of Glendale and Elm streets and proceeds east to the Village Green. Anyone can participate and is encouraged to join in. Watch the parade along Elm Street and see bagpipes, marching bands, and floats.
11:00 am: Events on the Green will include a flag-raising ceremony plus races and events for all ages.
6:30 pm: At Duke Childs field, before the fireworks, children can enjoy face-painting, moonwalk, mini golf and other attractions.
7:00 p.m: Concert music at Duke Childs
9:15: p.m: The fireworks begin with musical accompaniment!
For information on Wilmette's Fourth of July celebrations, please visit:
Best value in east Winnetka for this 4 bedroom/4 bath home just across the street from Tower Road Beach. Newer kitchen and baths, all hardwood floors, fully finished basement, deck, and fenced landscaped yard.
Winnetka has landed on Business Week's list of "Most Expensive Suburbs to Live In," for the second year in a row along with Atherton, California and Scarsdale, New York. Is this a blessing or a curse? Winnetkans know what a wonderful community we have and we are well aware of local house prices and a tax base that affords us one of the best school districrts in the country.
But I'm wondering - why Winnetka and not Kenilworth or Lake Forest (Kenilworth was chosen in 2007) - on average, their home prices are higher than Winnetka. They have a formula, explained in the link to the article, The Most Expensive Suburbs to Live in 2009, that basically looked at mortgage and utility payments, clothing, food, beverage, property taxes and health care. Based on those statistics, Winnetka has a higher than average cost of living for the state and a median home price of $1.06 million.
Yes, it costs to live here, but along with that comes good schools, low crime, and a great location just twenty miles north of downtown Chicago.
If you or anyone you know is moving, please give me a call!
Many people feel that having bought a house around the time of the "bubble" ensures that they made a huge lifelong financial mistake. Clients have lamented that they will "never be able to get out what they put in."
It's true that if you were a renter or first time buyer who purchased a home during the peak, then it would be fair to say that you've lost "real" money in your home. But for everybody else who sold something to buy something else, then I would argue that there is parity.
I purchased my home in Winnetka in 2004 and then decided to make it even better. Lots of people put money in their homes, right?, because it was a known fact that you would get it all back. In fact, lots of people borrowed money against those same homes because there was just so much candy coming out of that house pinata.
But today, I could not get what I paid for it, let alone the improvements. But there is another side to the story: I sold my old house at the same time and made a handy sum. I like to think that my house monies equalized each other out. Not exactly, of course, since I downsized, and other people may have upsized, but the point is that there was some parity. Not everything was lost - I bought and sold a house with a few months of eachother.
The reverse holds true today: for sellers fretting over tumbling prices, a good deal awaits them at the other end (assuming they are buying another property.) Again, it's a different story if you are a retiree who bought a retirement home years ago and have been "banking" on your current home's equity to help you through your golden years. If I wanted to sell my Winnetka home and move to, say, Wilmette, then I know that my sell/purchase ratio would be similar to what it might have been 5 years ago.
In fact, this urge is so strong that I recently saw a potential sale go bye-bye because the buyers felt the sellers did not come down as much (as a percentage) as they had to when they sold their house. They walked away before they would buy a home they loved because they were, in essence, looking for parity.
If you or anybody you know is looking to buy or sell a house in Winnetka, Wilmette, Glencoe, Kenilworth or Northfield, please give me a call!
Another month, new data! Have things picked up yet - let's see. Please check my previous post April Sales to see how the numbers compare.
Winnetka Closed Sales - 6 Total (2 April Sales)
988 Elm $834,000
369 Hawthorn $880,000
324 Rosewood $925,000
106 Longmeadow $1,000,000
704 Park $1,350,000
1310 Scott $1,470,000
Wilmette Closed Sales - 12 Total (11 April Sales)
618 Lacrosse $250,000
3216 Hill $375,000
221 Locust $398,900
2214 Old Glenview $400,000
441 Locust $450,000
1053 Linden $499,000
3211 Wilmette $656,000
315 16th $705,000
1046 Pawnee $1,000,000
245 Vista $1,115,000
1230 Gregory $1,700,000
1301 Chestnut $2,424,000
Kenilworth Closed Sales - 2 Total (1 April Sale)
550 Sterling $350,000
140 Kenilworth $3,945,000
Glencoe Closed Sales - 3 Total (7 April Sales)
700 Woodridge $419,900 (which I sold for $640,000 in 2007!)
532 Madison $435,000
798 Apple Tree $800,000
April total sales were 21 and and May total sales were 23. Not much difference although news reports insisted that sales were up. It hurts to remember that April 2008 sales for Winnetka, Wilmette, Kenilworth and Glencoe were 45 and May 2008 were 46.
If you, or a real estate client of yours, are in need of a yard sale to reduce some of that clutter, here are some of my tried and true tips to make your sale a successful one.
First, some advice on writing your ad:
Place an ad in your local paper. You can also advertise on Craig's List.
Highlight items of interest. (collections or collectables, furniture, antiques, appliances, tools, jewelry, baby items and toys, books, records...)
Multi-Family sales or "first time" sales will draw more people. Try to get neighbors to participate...the more families on a street included in the sale, the better.
The phrase "years of accumulation" will attract buyers.
If you plan to have your sale rain or shine...make sure you state that in the ad or list a rain date.
I suggest listing a start time, with no end time. That way you can end when you want to.
If you advertise for a start of 8 am, you could have people there as early as 6:00. If you don't want anyone there before the start time, make sure you state in your ad: No Early Birds. But, understand, some people will still show up early.
I suggest not putting the number of your house in the ad, only the Street name. That way the dealers can't show up the day before and the early birds can't find you. Make sure the house is clearly identified when you do open.
Important Things To Remember:
Get change (ones, fives, and coins) the day before.
Have lots of bags and also old newspaper for wrapping glassware.
It is best to have tables, but plywood over some trash cans or boxes work well. Do what you can to have breakable items up off the ground.
The best case scenario is to set up in the garage, the day before. Have everything in place and prices marked. Have big items by the door, ready to move into the driveway. When you are ready to open for business all you have to do is open the doors, move the big stuff into the driveway, and set out the sign.
Have big, easy-to-read-from-a-distance signs at both ends of the road. Make sure signs are weather resistant. I usually paint on a piece of wood using bright colors. Arrows showing direction are very helpful at intersections.
Always remove your signs when your sale is over.
If you don't want people driving up your driveway, or on your lawn, you need to block the entrance to the driveway.
Clearly mark anything that is not for sale.
Be prepared to bargain. Many people will offer you less than the prices marked.
Have a "FREE" box or area and add to it throughout the sale. It is a guaranteed way of getting rid of stuff.
The better the presentation, the more valuable the items for sale will appear. (organizing stuff into sections...clothing, housewares, holiday, toys, tools, books, etc. is helpful)
Don't keep candles or record albums in direct sun, they melt and warp.
It is best to have items individuallymarked with a price. Don't group items by price (everything on this table is $1) because the stuff gets moved all around and it gets too hard to keep track of what originated where.
If you have several people working the sale, then only one person should be cashier. People claim to have paid someone else if more than one person is collecting the money.
It is really sad to say, but people steal. Keep small pocketable items in zip lock bags.
If you have a lot of electrical items, have an extension cord available so people can see that they do actually work.
At the end of the sale place leftover items by the street with a big "free" sign and go out to eat. It could all be gone by the time you return home.
Having a yard sale is a lot of work, but it is also a lot of fun. Make it a festive atmosphere with music and balloons. Have fun with people and enjoy the experience.
It is amazing how much money you can make with a bunch of stuff you no longer need or want!
Every week Time Magazine runs a feature called "10 Questions" and last week the questions were asked of Jim Cramer, former hedge-fund manager and host of television's Mad Money. Here is the question and answer:
Q: Is it safe to start reinvesting a small portion back in stocks again, or are we better off investing in real estate?
A: I think that real estate is a once-in-a-lifetime opportunity, because there are no competetive buyers. Mortgage rates are the lowest in my life. Affordability is the best in my life. Clearly, real estate is much better than stocks right now.
Touche! Jim Cramer is controversial and not always right (Bear Stearns anyone?) But he is so right about this. To conjure up a trite real estate phrase: "Opportunity is knocking." More to the point, it's banging the door down like a horde of Huns on brand new ponies. Home prices in Winnetka, as well as Wilmette and Kenilworth, continue to slip down to pre-2001 levels.
I'm sounding like a broken record, but this moment in history will not last forever. These are historic low prices with sellers eager and motivated to sell and mortgage rates that are extremely favorable. There is plenty of inventory to choose from.
The controversial mixed-use project proposed by New Trier Partners to rebuilt the old Fell Building and property along Elm Street was approved by the Winnetka Village Council.
Crain's News Release reported: The Winnetka Village Council last week approved a 167,835-square-foot retail and residential development at the site of the former Fell Co. clothing store in the affluent north suburb's downtown. Construction of the $50-million project won't begin until at least 2010, as developer New Trier Partners LLC still needs financing. The plan for the one-acre site, near Lincoln Avenue and Elm Street, east of Green Bay Road, consists of retail space and 31 condominiums, which would start at $800,000. Lincolnwood-based New Trier can't demolish the existing buildings until it has financing and won't begin marketing the condominiums until the economy improves, says Robert Goldstein, a managing partner.
The vote for preliminary approval was 5-1, but there is yet another round of reviews to survive if the project will go forward. These three committees:
Building Review Board
Zoning Board of Appeals
Plan Commission
must still have a final look at the plans and make further recommendations to the Winnetka Village Council. The project has been under intense scrutiny since its inception and still has many detractors.
Some local residents continue to object to the increased height of the project (3 feet higher than allowed and requiring an exception to the zoning law.) Others feel it's too bulky for the neighborhood. Those for it, however, say that the business district is dying and all the open parking spaces during business hours proves it. They want more business development in the area and feel this project will revitalize the East End Shopping District.
As for me, that's Baird and Warner's building, the small white structure at the far left of the rendering, it will be a messy 2 years of construction, but that's the price for progress.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
original list price. Some of these homes came on the market pre-market downturn and are now selling at remarkably lower prices. 
It's time again to celebrate our nation's Independence Day on Saturday, the Fourth of July. This federal holiday commemorates the adoption of the Declaration of Independence on July 4, 1776 which declared independence from Great Britain. Since that day, Americans have hosted parades, fireworks, picnics, and barbecues.
east to the Village Green. Anyone can participate and is encouraged to join in. Watch the parade along Elm Street and see bagpipes, marching bands, and floats.
Open House!
Open House!
Winnetka
to say that you've lost "real" money in your home. But for everybody else who sold something to buy something else, then I would argue that there is parity.
Highlight items of interest. (collections or collectables, furniture, antiques, appliances, tools, jewelry, baby items and toys, books, records...)
Get change (ones, fives, and coins) the day before. 
Have big, easy-to-read-from-a-distance signs at both ends of the road. Make sure signs are weather resistant. I usually paint on a piece of wood using bright colors. Arrows showing direction are very helpful at intersections.
The better the presentation, the more valuable the items for sale will appear. (organizing stuff into sections...clothing, housewares, holiday, toys, tools, books, etc. is helpful) 
Having a yard sale is a lot of work, but it is also a lot of fun. Make it a festive atmosphere with music and balloons. Have fun with people and enjoy the experience.
Every week Time Magazine runs a feature called "10 Questions" and last week the questions were asked of Jim Cramer, former hedge-fund manager and host of television's Mad Money. Here is the question and answer:
;)
;)
