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 Price Trending Down original list 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%)                                                        Sold House

 

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. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Winnetka Fireworks ShowIt'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.

In Winnetka on the the 4th of July:

10:00 am:  The parade begins near the corner of Glendale and Elm streets and proceeds Fourth of July Parade Winnetka 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:

Wilmette Fourth of July

 

Have a wonderful and safe holiday with friends, family and neighbors!

 

 

 

2915 Wilmette AvenueOpen House!

Nicely Updated 3/bedroom Ranch

Sunday, June 28    12-2 pm

 

 

 

 

 

 

 

Come see this gem of a home with a newer gourmet kitchen, all hardwood floors, fully finished basement, and deep 188' wooded lot.   

2915 Wilmette Ave Kitchen

 

  Newer kitchen with granite counters and stainless cabinets.

 

 

 

 

 

 

 

 

2915 Wilmette Ave Living Room

 

   Living room with large picture window.

 

 

 

 

 

 

 

 

2915 Wilmette Ave Full Finished Basement

 

Full finished basement with office and full bath

 

 

 

 

 

 

 

 

2915 Wilmette Ave Deep 188' Lot

 

  Deep 188' lot

 

 

 

     Margaret Goss

     Baird & Warner Real Estate

     margaret.goss@bairdwarner.com

     www.CallMargaret.com

 

874 Sheridan, Winnetka  Open House!

Sunday, June 29 2:30-4:30

874 Sheridan Road, Winnetka, IL

 

 

 

 

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.

 

Margaret Goss, GRI, CRS

Baird & Warner Real Estate

847-977-6024

margaret.goss@bairdwarner.com

www.CallMargaret.com

 

Lake Michigan, Winnetka, ILWinnetka 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  Tightrope Walkers 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)                               Sold House

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.

 

 

 

 

 

With prime yard-sale season coming up I thought this article offered some good tips. 

Via Sharon Tara New Hampshire Home Stager (Sharon Tara Transformations):

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.

reading newspaperHighlight 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:

moneyGet 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.

signHave 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.

clothignThe 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 individually marked 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.

balloonsHaving 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! 

logo for Sharon Tara Transformations

 

 

 

Jim Cramer  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. 

Jump in, the water's warm.

 

 

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.Winnetka Development on Elm & Lincoln

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.

 

 

 
 
Rainmaker_large

Margaret Goss, Realtor Winnetka & North Shore Real Estate

Winnetka, IL

More about me…

Baird & Warner

Address: 714 Elm ST., Winnetka, IL, 60093

Cell Phone: (847) 977-6024

Email Me



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