North Shore Real Estate Blog

Extended Tax Credit - What It Means This Time

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Wed, 16 Dec 2009 13:22:33 -0600

The original tax credit was targeted for first-time home buyers and expired at the end of November. However, the government revised the plan and expanded it to include all buyers of primary homes. Along with the current buyer's market that we are experiencing, this is an added bonus to most homebuyers.

Here's how it works:

Who Can Take Advantage of This?

All first-time buyers (designated as not having owned a home in the past three years) and current homeowners who have have lived in their home for five consecutive years during the past eight years before they purchase the new home.

When Does the Tax Credit Expire?

Previously, one must have closed on their purchase by the deadline. This time, a contract must be signed by April 30, 2010 and the closing must occur by June 30, 2010.

How Much is the Credit?

It's different depending on your status. If you are a first-time home buyer, then the credit is 10% of the cost of the home up to $8000. If you are a current homeowner, the credit is also 10% of the purchase price but only up to $6500.

Does Income Make a Difference?

The income requirements were raised this time around. If you are an individual, you must make less than between $125,000-$145,000 or between $225,000 and $245,000 for joint filers.

Can Any Type of Property Be Bought?

The residence that you buy must be your primary home - it can be a single family home, a condo, co-op, mobile home, etc, but it cannot be a vacation home. It can even be a houseboat as long as it is not your primary residence.

Is There a Limitation on Price?

The purchase price of the home cannot exceed $800,000.

Do I Get My Money Back at Closing?

No the tax credit is reclaimed when you file either your 2009 or 2010 income tax form. There is a special IRS form for this, Form 5405.

Is This a Loan?

The credit does not have to be repaid as long as you stay in your new home for at least three years. If you have to sell before that time, the credit must be paid back in full.

This credit will not work for everybody, particularly here in the North Shore suburbs of Winnetka, Wilmette, Kenilworth and Glencoe where most income is higher than the minimum required to receive the credit. But if you make the cut, then this could mean a little extra money in your pocket.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

New Trier High School - To Renovate or Not?

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Mon, 14 Dec 2009 17:29:22 -0600

New Trier High School in Winnetka - To Renovate or Not?

A volatile subject sure to raise hackles in the coming 2 months is not whether New Trier needs a renovation, because most residents believe it does. The issue is just how much renovation it needs and at what cost.

One proposal early on called for the complete rebuild of the school with an accompanying price tag of $400 million which was denounced as too expensive and too intrusive to the community. Other ideas called for enlarging the Northfield campus, rebuilding just the west side, or just continuing to make repairs as they were needed.

What ultimatley has been proposed is replacing the:

Cafeteria
Gates Gymnasium
Tech Arts Building
Music/Performing Arts Building

This work is estimated to take 2 1/2 years and cost around $174 million. For the New Trier township resident this translates to $250 per $10,000 of tax bill.

There are compelling reasons to undertake these repairs at this time. Many of the classrooms were built between 1930-1950 and are not equipped for modern technology. Additional repairs are made every year but are considered to be no more than stop-gap, thus wasting tax dollars. Also at issue is negotiating more favorable rates for the work during a recession.

There are plenty of people, however, who feel that the work is unnecessary and overly extravagant. They fear that taxes across the board will be increasing and this project will be the proverbial camel. They simply want to scale back the project. They wonder why the Northfield campus is not given more consideration in light of its location in a less densely populated area where parking is abundant. The Winnetka campus is considerably smaller in size and more dense.

The New Trier School Board is asking voters to support a referendum on February 2, 2010 via a bond issue for $174 million.

Both sides have set up websites with clear pro/con arguments, plans, photos, essays and letters to defend their stance. They can also be followed on Facebook and Twitter.

Our New Trier is in favor of the referendum.

New Trier Choices is against the work proceeding in its current design and cost.

There will be more written on this subject as I talk to people and gather opinions. What are your thoughts?

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

November Market Stats for Winnetka, Wilmette, Kenilworth and Glencoe

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Wed, 09 Dec 2009 12:45:41 -0600

I was curious to see how much the tax credit would affect sales in Winnetka, Wilmette, Kenilworth and Glencoe. As it applied to first time home buyers (or buyers who had not bought for three years) and with income restrictions I did not think it would have much of an impact.

Basically, I was right, with the exception of Wilmette which posted 32 sales for the month of November.

Here's how everything panned out for November closed sales:

Winnetka

8 sales

Total $ Volume: $8,083,500

Median Price: $871,250

Average Price: $1,010,438

Wilmette

32 sales

Total $ Volume: $24,798,050

Median Price: $620,000

Average Price: $1,585,000

Kenilworth

No sales

Glencoe

8 Sales

Total Dollar Volume: $6,023,471

Median Price: $584,736

Average Price: $752,934

Northfield

4 sales

Total Dollar Volume: $3,818,000

Median Price: $954,500

So an amazing uptick in sales in Wilmette, with 9 of the sales under $500,000 and 9 sales over $1,000,000. Wilmette has the largest in population of these villages, and offers a wide swing in prices so I believe some of these sales can be attributed to the housing tax credit.

The tax credit has now been expanded until April, with closing allowed until the end of June. Some of the rules have changed and have been expanded to include all buyers, not just first time home buyers, but there are still income restrictions.

If you would like more information about the housing tax credit, please give me a call.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

A Bit of Native Prairie Returning to Glencoe

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Mon, 07 Dec 2009 21:37:28 -0600

A bit of native prairie is returning to Glencoe at Shelton Park near the corner of Green Bay Road and Harbor. I was pleasantly surprised one morning while jogging through the park to see a new sign announcing this exciting development. In a land where tallgrass prairies once ranged as far as the eye could see and as tall as a horse, this approximately 1/2 acre plot may not seem like much, but believe me, it is!

It takes a long time and a lot of patience to establish a native prairie - prairie plants have extremely long roots that are fire and drought resistant. It may seem like the weeds have won the battle in the first 2-3 years, but ultimately the prairie plants will dominate and their dense root system will not allow weeds to grow.

Rick Bold, Glencoe Park District manager for this project, told me that it takes 3-5 years for the new seeds to grow and at least one winter of freezing temperatures are necessary for proper growth. In the meantime, the old sod will insistently try to grow back.

Shelton Park was renovated in 2004 and the idea of restorating a corner of the park for a restoration arose at that time. The park district is working with an outside consultant, Tallgrass Restoration, to properly oversee the landscaping and planting. A restoration can be described as a purposeful assembly of plants to recreate an ecosystem that is similar to the original.

The sign (shown at right) at Shelton Park announcing the prairie restoratation reads:

"In the commitment to be stewards of the environment, the Glencoe Park District is restoring this Tallgrass Wildflower Prairie to benefit the environment and larger community, enriching the natural heritage of Glencoe's wildlife, plants and flowers.

Reviving native plant communities can do many things, including reduce the maintenance costs and carbon footprint associated with machinery and fuel, provide storm water runoff benefits, and bring back the vibrant colors and native wildlife that enrich our landscape.

In the next 1-3 years in this area of Shelton Park, you will begin to see some of the beautiful wildflowers and grasses shown below. We thank you for your patience while this prairie is in its restorative process, and hope you look forward to its growth and development. For further information on this project, please contact Rick Bold at (847) 835-4648."

Here's the list of wildflowers and grasses that were planted in October, 2009:

Slender Wheat Grass

Little Bluestem

Smooth Blue Aster

New England Aster

Side-oats Grama

Partridge Pea

Sand/Lance-Leaved Coreopsis

Illinois Bundle Flower

Broad-leaved Purple Coneflower

Nodding/Canada Wild Rye

Virginia Wild Rye

False Sunflower

Slender/Path Rush

Spike Blazing Star

Wild Lupine

Wild Bergamot

Foxglove Beard Tongue/Smooth Penstemon

Purple Prairie Clover

Yellow Coneflower

Black-eyed Susan

Stiff/Rigid Goldenrod

Hoary Vervain

To better understand the importance of prairie restoration consider that Illinois once had over 22 million acres of prairie, of which just 2000 acres are still intact. Even a small restoration enriches the soil, helps with erosion and sucks up extra water during rainfall. In addition, they attract butterflies and other pollinators.

Since the running and biking trail passes right past the prairie, look for the informational sign and stop by to check it out. Remember, be patient and you will soon see something very special growing right in the middle of Glencoe. . . something that had almost completely been lost to farming, commerce and housing is now making a small comeback in our midst.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

'Tis the Season: Holiday Selling Tips

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sat, 05 Dec 2009 16:28:20 -0600

I don't think it's really wise to take your home off the market during the holdiays. In general, showings slow down at this time . . . but the perfect buyer could be here looking for a home that matches yours exactly!

Read on,

Via Debe Maxwell, Realtor® - Charlotte NC MLS - Charlotte NC Neighborhoods (Helen Adams Realty):

'Tis the Season: Selling During the Holidays

During the holiday season, the focus for many turns to home and family. Many buyers cease searching for a new home during this time; however, there are many others who have no choice--they must continue their search because of job transfers, family changes or relocation. Due to the fact that many sellers feel that during this holiday season, they would prefer not to be 'disturbed,' they will temporarily remove their homes from the market until after the first of the year.

I recommend that my sellers remain on the market during this time if at all possible. The reason--there is far less competition. Yes, there are fewer buyers but, the competition is far less and you've got a better chance of selling during this season than waiting for the spring's flood of new listings.

Consider this--holiday festivities are a breeze at your home that is on the market during this season because you have already done the work to constantly keep your home in showing order to be prepared for a showing at a moment's notice. Your efforts to reach out to potential buyers could pay off during this challenging time!

When your home offers the features and amenities. location and price that a potential buyer is looking for, you are more likely to sell it quickly in the winter than waiting for the spring or summer buying seasons. Your home may very well be looking its best this time of year. Here are some tips for setting the stage for your holiday listing:

Adorn your front door with a festive wreath.

Place a fresh welcome mat at the front door.

Minimize your holiday decorations--tastefully selected decorations will give the buyer a 'warm' feeling but, not distract their eyes from your home, which is what you want to ultimately sell.

Remove furniture to accomodate your decorations--you don't want your home to appear smaller than it is because you've tucked a small tree in the corner and pushed your furniture together to accomodate that tree.

Holiday scents will make your home seem warm and welcoming--consider boiling an apple slice and a stick of cinnamon just before a showing. You can store your boiling pot in the refrigerator for several days for re-use.

If you're only stepping out of the home for the agents to show, leave it toasty with a fire in the fireplace. Do not leave your home unattended with a fire burning though!

Because winter months can be dreary because of the weather, raise your blinds and leave the lights on.

Do not over-decorate--all buyers do not celebrate the holidays in the same manner that you do so, give your home a warm feeling but, don't overdo it.

Leave your stereo playing classical or jazz music softly during showings.

As you leave your home for showings, ask yourself if you've appealed to all senses: visual, smell and sound. You may even want leave them cookies to appeal to their sense of taste!

Other holiday incentives you can offer:

If you can cover the buyer’s closing costs, or a portion thereof, you may attract potential buyers to your home by advertising this information.

Offer a “decorating allowance” for purchasing your home during the winter months.

Keep in mind that when you place or leave your home on the market during the winter holiday season, people rarely “browse” for homes during this time of year. The potential buyers who do visit your home are serious about buying and are often in a hurry to do so.

The equation is simple: Serious buyers + tastefully done festive décor = you, well on the way to selling your home! 'Tis the season!

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Winnetka Holiday Sale This Sunday, December 6

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Fri, 04 Dec 2009 16:14:35 -0600

Winnetka's Annual Holiday Sale is this Sunday December 6. Many shops throughout town participate in this event and offer storewide discounts of up to 20%. The sale is always scheduled on the first Sunday after Thanksgiving and many stores offer treats as well. Let's support our village by shopping locally!

Here is a list of participating vendors:

Hubbard Woods

Creme de la Creme

E Street Denim

Hastens Beds

Marigolds

Material Possessions

Mattie M

Simon's Boutique

West Elm

All She Wrote

Bleacher's Sports

Ellen's on Elm

Frances Heffernan/Frannie

Grand Foods

Gray

Noah's Ark Pet Supply

Rosemary Shugar

S'Agaro

Sunday Afternoon Gallery

T. L. Fritts Sporting Goods

The Book Stall

Valentina

Village Toy Shop

Vose-Sanders Bootery

East Elm

Conney's Pharmacy

Davis Miller

Marion Michael

Orrington Jewelers

Phototronics

sight seeing

T. J. Cullen Jewelers

plus

Hibbard Road Gardens (corner of Winnetka Ave and Hibbard Rd.)

Most stores will be open for business between 12 and 5 but some stores will open as early as 11:00 am. Please call the Winnetka Chamber of Commerce at 847-446-4451 for more information.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Winnetka Historic Homes - Italianate Style

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Thu, 03 Dec 2009 19:36:34 -0600

Winnetka Historic Homes - Italianate Style

Victorian homes were being constructed in this country between 1840-1890 and the most popular of them was the Italianate style. Although an American original, they were generally inspired by Italian villas and farmhouses and could be as simple as a two-story home or an elaborate mansion.

There are several features that distinguish this style but the most prominent is the elaborate cornice. The eaves are deep set with rows of brackets along the underside. The homes are usually irregular in shape and stand two to three stories high or even higher. Many of these homes have spacious porches. bay windows, and hipped roofs (where all sides are sloped.) An original feature that has been lost on most of these homes is the cupola.

The Italianate style of home was built with a variety of materials including wood, stone and stucco - most of the typical North Shore homes were simpler clapboard structures, less ornamented and smaller than their East coast cousins.

Two beautiful Winnetka Italianate homes are:

302 Forest St., constructed in 1873

255 Ridge Ave., constructed ca. 1885

Previous Posts about Winnetka Historic Homes:

Winnetka Historic Homes Part 1

Winnetka's Original Log Home - The Schmidt-Burnham House

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Top Ten Home Improvements That Benefit Sellers

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Mon, 30 Nov 2009 12:34:02 -0600

TOP TEN HOME IMPROVEMENTS THAT BENEFIT SELLERS

Getting top $$ for your home is the target of a real estate agent- and the best way to hit the center mark is to make sure your home is in the best conditon you can make it. I always go through a seller's home to assess the minimum that should be done to achieve this goal and it does not have to be expensive or labor intensive.

The home valuation company, HomeGain polled 1000 real estate agents to come up with a list of the most important, least expensive, and most value intensive improvements that sellers can do to prepare their home for the market.

Since they started the poll in 2000, the #1 task has been . . . decluttering the house. How cheap is that? Labor intensive, maybe, but the most important thing you can do is simply put the clutter away. You're moving right? Just get some boxes and start filling them up! If storage space is a premium, renting a storage unit or Pod is a good idea.

Here's the rest of the list of improvements that sellers might want to consider before offering their house for sale:

2. Home Staging

3. Lighting and Brightening

4. Landscaping

5. Plumbing Repairs

6. Electrical Updates

7. Replacing or Shampooing Carpets

8. Repair Damaged Floors

9. Painting Interior Walls

10. Kitchen Update

While de-cluttering costs almost nothing (HomeGain gave a price of $200) the return on investment is 842%! Obviously, some of this work, especially in the North Shore suburbs of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield, will cost more than a "minimum" amount.

Keep in mind that these improvements are meant to be inexpensive. A kitchen update should not be undertaken simply to increase immediate value unless it's a do-it-yourself job such as painting worn cabinets and replacing hardware. To do anything more than that would not be money well spent.

Keep this list handy if you are considering putting your home on the market. There are few homes that don't need any touch ups - be honest and take a buyer's view of your home. The reward will be a faster sale and higher price.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

What's Your Home's "Walkability" Score?

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sun, 29 Nov 2009 16:52:49 -0600

It's been drilled into our heads: LOCATION LOCATION LOCATION. A desirable location can add real value while living on a busy street, across from commercial buildings or noisy areas can greatly decrease the value of your home. But here's an interesting concept I came across: your "Walkability" score, or your home's proximity to desired amenities such as coffee houses, grocery shopping, cafes, schools, parks, libraries, etc.

A recent report, "Walking the Walk: How Walkability Raises Home Values in U.S. Cities," was put together from transaction data from Zip Realty and scored on the basis of your home's nearby amenities. The score ranges from 0 to 100 with 100 having the best score and anything over 70 indicating that it's possible to get around without a car.

The study was commissioned by CEO for Cities, a national group of civic leaders, businessmen, academics, and philanthropists.The report looked at 94,000 transactions in 15 cities, and found that in 13 of them, values increased in relation to their Walkability score. They found that a 1 point increase in score could lead to an increased home value of between $500 and $3000 while a better-than-average score could result in much larger increases.

The study showed one neighborhood, Ashley Park, North Carolina with a Walkability score of 54 having an average house price of $280,000 while nearby Wilmore, with a Walkability score of 71 had an average house price of $314,000.

On the North Shore, buyers often look for "walk-to" locations, particularly commuters wanting to be near the Metra stations. Clients who have bought near downtown Winnetka or Wilmette often tell me they love being able to walk into town for coffee, shopping or errands.

For my own home, I received a score of 66, or "somewhat walkable." Here are some other local statistics:

WINNETKA

Average score: 58

Highest score: 77

WILMETTE

Average score: 68

Highest score: 92

KENILWORTH

Average score: 49

Highest score: 92

GLENCOE

Average score: 40

Highest score: 92

This theory of "Walkability" does not necessarily add another value factor, rather, it expands the location category and bestows more importance on it. Home buyers might want to consider more heavily in favor of nearby attractions - not just for the convenience factor, but also in terms of value.

Of course, there are other added benefits of keeping the car securely parked in the garage. Residents of cities with higher Walkability scores weighed an average of seven pounds less than residents of cities that ranked lower and had better transportation systems. More difficult to calculate is the effect of reduced fuel emissions and global warming.

You can check our your address and it's Walkability Score at Walk Score.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

An Immigrant's Thanksgiving Story

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Wed, 25 Nov 2009 13:11:33 -0600

My parents emigrated to this country in 1951 from Poland. They survived World War II as fighters in the underground resistance and internment in a prisonor-of-war camp in Germany.

Although I currently live in a mecca for people of Polish heritage (Chicago), I actually grew up in Los Angeles where there is not a large Polish population. Thus, my mother had to fend for herself and learn through her children, my brother and me, about these curious American traditions.

My parents embraced America - although they spoke Polish at home, they learned English quickly and applied for American citizenship as soon as they were able. My father returned to school to finish his studies for an engineering degree and my mother had two kids and stayed home to raise us.

Thanksgiving stumped her. She never really liked to cook, but to spend all day fussing over a large bird was something she put off as long as she could. But as we kids grew up and started talking turkey, bringing home pilgrim cutouts and recipes for sweet potatoes, she knew she had to figure this thing out.

The perfect solution for her was a recipe she found somewhere that suggested cooking the turkey all day at a very low temperature. No fuss at all - just buy it, clean it, and stick it in the oven for 12 hours. This bombshell of a recipe resulted in a withered, brown lump that my parents served with great ceremony. Really. No stuffing, no gravy, no cranberry, no pumpkin. Just lots of potatoes. Oh, and some stewed cabbage and beets.

And so it went for many years. We celebrated Thanksgiving, just the four of us, understanding as we got older that it wasn't native to them. But their children were Americans now and needed to partake in American holidays, no matter how alien it might feel to them. I didn't have gravy or cranberry sauce until I was well into my twenties but I never missed it. Cornbread or stuffing were not served but we didn't notice that either.

We were a family, part old world, part new, that felt what the Pilgrims must have felt in those early days: that good gravy and some tart cranberries would go a long way to make a dry old bird taste better!

Happy Thanksgiving to all!

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Chicago Tribune Says Home Sales Up! Is Is True in Winnetka & North Shore Suburbs?

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Tue, 24 Nov 2009 17:26:26 -0600

Today's Chicago Tribune (November 24, 2009) front page headline proclaims: "Home Sales Surge in Area." Is it true in Winnetka, Wilmette, Kenilworth, Glencoe and Northfield? Have prices plummeted as the article claims?

Well, in a word, no. And how much of this increase can be attributed to the First Time Home Buyer Credit. Is real estate local? First the numbers:

OCTOBER 2009

Units Sold: 54

Average Market Time: 259 days

Median Price: $677,500

Average Price: $917,573

Total Volume: $49,548,952

OCTOBER 2008

Units Sold: 48

Average Market Time: 185 days

Median Price: $620,600

Average Price: $884,253

Total Volume: $42,444,125

OCTOBER 2007

Units Sold: 62

Market Time: 126 days

Median Price: $866,500

Average Price: $1,233,568

Total Volume: $74,481,238

OCTOBER 2006

Units Sold: 49

Market Time: 97 days

Median Price: $642,500

Average Price: $903,602

Total Volume: $44,276,500

The newspaper said: "It was the best October for sales in the Chicago area since 2006." Not true for the North Shore where the area sales spiked for October 2007, 62 units sold to 54. Year-over-year it has taken longer for houses to sell going from an average of 97 days in 2006 up to 259 days this year.

Some good news, some not so good: Athough sales went up, prices went down. While Chicago saw an upsurge of home sales this October over last of 28.5%, the North Shore communities also saw sales go up, but at a slower rate of 11%. As for average price, well, we've followed the national trend there with prices coming down approximately 26% in the span of two years (October 2007 to October 2009.)

My opinion is that these large city and national statistics are driven by the First Time Home Buyer Credit which allowed for an $8000 credit on the purchase of a new home by November 30 (since extended.) I had one such sale in Chicago's north side and the push was to search, buy, close, and quickly. Of course the numbers would jump - but only temporarily. It's just not something we are going to see in Winnetka or Kenilworth with average home prices being well beyond the reach of most first-time home buyers and most residents making in excess of the minimum salary requirement.

Prices have dropped record amounts in the past two years and I feel that we are getting close to the bottom - not there yet, but close. I don't see a rebound that will shock and awe, but rather a slow appreciation that might take many years to get back to 2007 prices.

If you are a seller, be realistic and price accordingly with the help of your realtor. If you are a buyer, be methodical and don't pin your hopes on one house or you might not get the best price.

If you need help buying or selling real estate in this challenging market, call me for a free market evaluation or daily list of home updates.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Kenilworth Now Accepting Items for Recycling

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Thu, 19 Nov 2009 15:55:50 -0600

Kenilworth Now Accepting Items for Recycling - The Village Hall in Kenilworth is now accepting certain items for recycling. Old cell phones, digital cameras, DVDs, MP3 players, print cartridges and laptop computers can all be brought in to the Village Hall at 419 Richmond Road in Kenilworth. Items NOT accepted: computer monitors, printers, personal computers and toner cartridges.

There is a disposal container by the front desk and items can be brought in any time during the day, which in this case means 24 hours because the bins are in the lobby and can be accessed any time.

The program is being sponsored by Recycling Avenue, which is a non-profit started and run by a group of physically handicapped young adults. Their website has some startling statistics about how grossly polluting these items are.

If you a drawer or box full of old phones or any other items listed above, be sure to drop them off at the Kenilworth Village Hall.

Search the MLS for all homes at:

North Shore MLS

Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Winnetka's Original Log Home - the Schmidt-Burnham House

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Mon, 16 Nov 2009 16:39:13 -0600

Winnetka's Original Log Home - the Schmidt-Burnham Log house is thought to be Winnetka's oldest home. Some fine homes are still standing that were built as early as the 1890s, but this simple design was built by the earliest settlers in the vicinity. This log house is slightly more sophisticated than the humble one-room log cabin and was intended to be permanent, having two or more rooms plus a second story.

The logs were closely fitted with a complicated system of notching. Sticks and stones were placed between the logs and covered with mud to help weatherize the home. Interestingly, the windows and doors were cut out after the home was built!

Finnish and Swedish immigrants originally introducted this simple construction style to America and this home ihas more German influences with rooms surrounding a central chimney.

The house was originally constructed on 37 acres on the present site of Indian Hill Country Club, near the corner of Winnetka Avenue and Church Road. German immigrant Peter Schmidt was the first documented owner and purchased the property in 1841 - he enlarged it to accommodate a growing family and several generaltions living within. He also stuccoed the interior and added clapboard to the exterior. He sold the house in 1870 and moved to Wisconsin.

Around 1917 a famous local artist, Anita Willets Burnham, (shown as a child in the photo below right)was on a painting excursion and walked up to the house in search of water. She fell in love with it and purchased it for $25 - but the land was not included as it had been annexed for the construction of Indian Hill Country Club in Winnetka. She spent $100 to have the house moved by horse-drawn wagon to 1407 Tower Road in Winnetka, near the intersection of Tower and Vernon. The Burnham family added a clapboard lean-to in the back to provide more space.

The Burnhams owned the home until 2001 when it was donated to the Winnetka Historical Society and moved yet again to Crow Island Woods, adjacent to Crow Island School. The Historical Society restored the home and opened it for public viewings in 2006. The present day location gives it an aura of authenticity as it sits among the prarie grasses and gardens.

Although there are no more open houses this year, group visits can be arranged in advance by contacting the Winnetka Historical Society.

To read more:

Winnetka Historic Homes Part 1

(Two black and white photos above and left are courtesy of the Winnetka Historical Society)

Moving Day 2003

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

8 Myths of Staging to Sell - Busted.

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Mon, 09 Nov 2009 13:16:36 -0600

I have been couseling home sellers to stage their homes since before the word "staging" became in vogue. The difference a professional eye can make to your home is amazing.

And it in no way reflects on your decor - it's just the simple fact that home buyers often don't have the "eye" to see beyond your things. Simple re-arrangements of furniture or removal of your beautiful collectoins help the buyer imagine your home as theirs. And that is what we're after!

Via Donna Ross - Home Staging, Sydney, Australia (Great Impressions Real Estate Staging & Consulting - Sydney):

Home staging (or property styling as it's commonly known as on the Australian property scene) is really an art, not a science. One of the many things a professional home stager understands is that it's the house that's up for sale, not the home owner's bread baking ability or taste in music. So, from the sublime to the rediculous - here's 8 myths of staging to sell - busted!

1. Buyers can see past my stuff
No - they can't. 95% of house hunters shop with a 'what you see is what you get' eye. You'll be maximising your chances of a better and quicker sale if you take the time to clean out, clean up and keep your look simple.

2. Baking bread, brewing fresh coffee and playing soft music will make a buyer fall in love with my house.
Maybe once upon a time this was true - but most would-be buyers are onto that old trick. It's more likely to trigger alarm bells, with many wondering what it is you're trying to hide. Your buyers will be happy with a place that looks and smells clean.

3. I'll need to clear everything out to help buyers see themselves living here.
This is only partly true. Wall to wall family photos are distracting, as is your porcelain rooster collection. These things are best put away. But don't go overboard, otherwise you'll end up with a look that feels cold and sterile.

4. If it's an original feature - it adds value.
Sometimes yes - but often no. Generally a property built less than 50 years ago without being updated is more likely to appear dated, rather than classic.

5. My place isn't worth staging.
All homes are worth taking the time to present in a positive light to buyers. The trick to knowing where to start and what to do is in having a good idea of what buyers in your target market will expect, along with learning more about what competing properties in your area are offering.

6. Empty rooms look bigger.

This is rarely the case. Buyers will always prefer to see how a room is used and what will fit in it, rather than be left to guess. Very large rooms can also be too intimidating for some. Even borrowed furniture can help buyers get an idea of scale and give the eye something of interest to focus on.

7. Converting a bedroom into a home gym won't be a problem.
Bedrooms are one of the most valuable commodities of the 'for sale' property. Having a home gym set up in a bedroom will prompt buyers to wonder why that is. I remember once looking at a house where this was the case. When I came across the bedroom with the gym in it, I immediately began to question if a bed would even fit. Always give the rooms in your house a purpose.

8. No need to worry about wardrobes and cupboards.
Home storage is a big deal to most buyers and is surprisingly valuable. Prospective buyers will open storage cupboards in kitchens and bathrooms, so keep them tidy. Keep only what you're using on a daily or weekly basis, and pack the rest away ready for the move.

Have you got a staging myth you'd like busted? Share them with me here.

Donna Ross

Great Impressions Real Estate Staging

"I love helping Sydney home owners and real estate agents catch the eye of choosy buyers with their 'for sale' listings, with fast, simple and inexpensive decorating fixes."

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Comparing present homebuyer tax credit to extended version

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sun, 08 Nov 2009 17:56:53 -0600

Here is a great chart that explains the differences between the new housing credit and the original plan.

Via Jim Lee, Knoxville Tennessee Realtor® (Realty Executives Associates):

Below is a chart prepared by the National Association of REALTORS ® comparing the new changes to the Homebuyer Tax Credit.

The biggest change is that current Homeowners are now eligible if they sell their current homes and then buy AFTER the date of enactment of this extension which is November 6th, 2009.

Because of widespread incidents of fraud, purchasers must now attach documentation proving they actually bought a qualifying home to qualify for the credit.

Additinally the income guidelines have been increased, now a single taxpayer can qualify if they earn up to $125,000 and up to $225,000 for married taxpayers.

The rationale for increasing the income limits and expanding the credit to existing homeowner is that it should encourage more higher priced home purchases. Currently the existing tax credit was driving mostly lower end purchases.

Jim Lee, CRS, ABR, GRI, ACRE, NAR Certified e-PRO Trainer
*****************************************************************
Visit my blog: www.KnoxvilleTennesseeRealEstateBlog.com
Realty Executives Associates, Knoxville, Tennessee
See all Knoxville area Realtor listings at: www.KnoxvilleHomeCenter.com
(865) 693-3232, My Personal Toll Free # 1-800-662-2488 ext. 163
mailto:Jim@JimLee.com

Click here to subscribe to my blog and get up to the minute news and reports about real estate in the greater Knoxville, Tennessee area.

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Winnetka, Wilmette, Kenilworth, Northfield October Home Sales

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sun, 08 Nov 2009 17:54:13 -0600

Winnetka, Wilmette, Kenilworth, Northfield October Home Sales - homes sales are down for the month of October compared to September and August. But that's not unusual, given the usual end of the year slowdown. Prices continue to dip and houses on the market for the longest period of time sustained the greatest loss. But prices are just beginning to stabilize I think, or at least the decline has markedly slowed down.

Winnetka - 12 total sales - Average Sale Price: $1,318,750

1487 Tower, $480,000 sold price, 86 days on market, 84% of asking price

1010 Oak, $565,000 sold price, 420 days on market, 76% of asking

1146 Cherry, $680,000 sold price, 64 days on market, 91% of asking

206 Green Bay, $700,000 sold price, 872 days on market, 78% of asking

1025 Elm, $1,145,000 sold price, 153 days on market, 80% of asking

1044 Cherry, $1,180,452 sold price, 1 day on market, 100 of asking

597 Oak, $1,240,000 sold price, 167 days on market, 82%

799 Lincoln, $1,260,000 sold price, 677 days on market, 43% of asking (REO property)

561 Cherry, $1,275,000 sold price, 27 days on market, 91% of asking

898 Ash, $1,300,000 sold price, 14 days on market, 93% of asking

717 Locust, $2,200,000 sold price, 219 days on market, 92% of asking

645 Maple, $3,800,000 sold price, 288 days on market, 96% of asking

Northfield - 5 Total Sales - Average Sale Price: $668,000

263 Bristol, $300,000 sold price, 151 days on market, 75% of asking price

269 Dickens, $370,000 sold price, 42 days on market, 84% of asking

4 Country Lane, $690,000 sold price, 137 days on market, 73% of asking

353 Eaton, $920,000 sold price, 732 days on market, 63% of asking

4 Bridlewood, $1,060,000 sold price, 529 days on market, 71% of asking

Wilmette - 15 Total Sales - Average Sale Price: $732,000

2525 Wilmette, $329,000 sold price, 54 days on market, 90% of asking price

238 N. Kilpatrick, $365,000 sold price, 149 days on market, 87% of asking

304 W. Wilshire, $389,000 sold price, 111 days on market, 87% of asking

817 Westwood, $525,000 sold price, 101 days on market, 82% of asking

219 Dupee, $540,000 sold price, 76 days on market, 86% of asking

2112 Thornwood, $545,000 sold price, 138 days on market, 78% of asking

2016 Birchwood, $559,500 sold price, 127 days on market, 90% of asking

736 Park, $575,000 sold price, 17 days on market, 93% of asking

2445 Kenilworth, $870,000 sold price, 126 days on market, 86% of asking

1306 Greenwood, $925,000 sold price, 131 days on market, 73% of asking

1007 Linden, $936,000 sold price, 108 days on market,

1014 Pontiac, $945,000 sold price, 136 days on market, 90% of asking

2537 Laurel, $1,080,000 sold price, 203 days on market, 80% of asking

1000 Chestnut, $1,125,000 sold price, 202 days on market, 76% of asking

511 Greenleaf, $1,285,000 sold price, 11 days on market, 95% of asking\

Kenilworth - 1 Total Sale

234 Leicester, $1,285,000 sold price, 611 days on market, 61% of asking price

Glencoe - 12 Total Sales - Average Sale Price $1,167,160 (skewed by one high sale)

416 Madison, $412,500 sold price, 308 days on market, 83% of asking price

566 Dundee, $415,000 sold price, 323 days on market, 76% of asking

229 Sylvan, $482,500 sold price, 12 days on market, 96% of asking

459 Drexel, $590,000 sold price, 120 days on market, 87% of asking

480 Westley, $590,000 sold price, 59 days on market, 85% of asking

258 Dennis, $610,000 sold price, 86 days on market, 85% of asking

737 Elder, $675,000sold price, 115 days on market, 84% of asking

130 Euclid, $950,000 sold price, 508 days on market, 60% of asking

260 Wentworth, $1,240,000 sold price, 1172 days on market, 52% of asking

944 Skokie Ridge, $1,250,000, 323 days on market, 81% of asking

1010 Sheridan, $1,592,500 sold price, 10 days on market, 94% of asking

443 Sheridan, $5,200,000 sold price, 1696 days on market, 37% of asking price

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Wiley Coyotes in Winnetka and North Shore Suburbs

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sat, 31 Oct 2009 16:48:18 -0500

After reading about the tragic death of a young folk singer in Canada from an attack by two coyotes, I am reminded that these wild animals should be treated with caution and never, ever fed. These amazing animals have been thriving in our urban/suburban environement. Because they look like the famiily dog, well-meaning people can sometimes forget that coyotes need to be left to fend for themselves. This is for their protection as well as ours.

Experts say this this type of attack is extremely rare. In order to keep facts in perspective, there are 4.7 million dog bites every year - with 1000 people every day needing treatment in emergency rooms. Meanwhile, some other statistics about coyotes:

about 1 person per year is bitten by a coyote in California
between 1993-1997 seven people were bitten by coyotes in Arizona
The best estimates assert that, in recorded history, there have been 20 to 30 coyote attacks on humans that resulted in injuries

What is more common are coyote attacks on pets - such as Jessica Simpson's small dog Daisy being snatched by one in California. Numerous small dogs have been killed by coyotes in their own yards.

The reason I am writing about coyotes is because they live among us, primarily here in Glencoe and Winnetka. As I am a regular runner on the Green Bay Trail in the early mornings, I have often been treated to a fleeting glance of a coyote as it disappears into the brush. On our nightly walks after dinner, my husband and I occasionally see one walking on the Metra rail tracks.

Our dog is always leashed on walks - primarly to avoid the dreaded skunk spraying, but also to prevent a run-in with a coyote. Our dog weighs about 40 lbs., perhaps too large for a coyote attack, but why take the chance. Recently, a coyote was seen walking by Hubbard Woods School in Winnetka broad daylight as neighborhood dogs, confined in their yards with invisible fences, barked hysterically. I would not have believed it except I saw it myself.

Use common sense if you see a a coyote and remember:

Coyotes prefer not to be seen by humans
Urban coyotes are more active at night than their rural cousins
They actually do us a favor by eating rodents that we don't want around
Don't leave your pet's food outside
Keep cats inside
Keep your dog on a leash
Don't let pets out at night unless accompanied

Coyotes are here to stay - remember the rules and you and your pets will remain safe.

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Winnetka & North Shore Suburbs - Cook County Tax Bills Have Arrived

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Fri, 30 Oct 2009 16:19:23 -0500

Every buyer I have ever worked with has asked me to explain the Cook County system of property tax assessment. Explain? How could I adequately do this when the Civic Federation says this on their blog:

"The Cook County property tax system is so complex that it is impossible to predict exactly how the new tax rates will affect an individual property owner’s bill."

And in today's Chicago Tribune, in an excellent article by Eric Zorn, he writes:

"Just about everything having to do with property taxes is convoluted and every explanation is filled with jargon, acronyms and more math than most of us are used to doing."

But of course, I try to explain it - as I will again now. Especially in light of the fact that Winnetka, Wilmette, Kenilworth and other North Shore communities have seen dramatic price reductions during the last year and people assume their tax bills will reflect this. Maybe later - but one curiosity of our taxing system is that our bills are paid in arrears - this means that this year's bill is for last year, when home values were higher.

So no, your tax bill will not automatically reflect the rather substantial drop in your home's value. In addiiton to this, the 7% Homeowner Exemption which was passed in 2004 is being phased out.

But let's get back to basics. There are hundreds (I have heard as many as 1200) taxing bodies in Cook County that make a claim on property tax monies. These bodies are the park districts, libraries, schools, city, county, etc. Determining what the total demand is - then setting about extracting this from homeowners is how the tax rate is determined. So in effect, taxes go up if more money is requested.

Unless you're really ready for a challenge, skip the next paragraph!

Actually determining what each homeowner pays is a nightmare to understand. First there is the assessment level, which in Cook County is 16% of your home's market value. Then there is an equalization factor which attempts to even out or "equalize" assessments from county to county across the state. The equalized assessed value is the county's assessed value after it has been equalized. So your total tax bill is based on the latest assessment, and new equalization factor, exemptions and tax rate.

What is really confusing is that 1) your assessment could go up while your taxes go down, or 2) your assessment can go down and your taxes could go up. In other words, somebody must have wrote this thing with the thought in mind that you can't complain about something that you don't understand. The important thing to understand is how much your portion goes up in relation to other houses.

This is where I can help you - by providing information from the tax base about your neighborhood, recent sales, and tax bills being currently paid by your neighbors. This is how you can determine where you stand in comparison to other properties. But please don't ask me to explain the Cook County System of Property Taxation - I'd rather wade through a swamp filled with alligators. . . .

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

New Trier High School Hopes for Renovations

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Thu, 22 Oct 2009 17:40:46 -0500

New Trier High School in Winnetka is hoping that the school board will vote to set a referendum for next February to allow voters to decide on going ahead with plans to refurbish portions of the campus. The estimated cost of renovations is $185 million which translates into approximately $300 additional in residents' tax bills. Earlier this year the district nixed more expensive plans, including a $400 million rebuild that voters said was too expensive.

If approved the project would commence in the summer of 2010 and be completed in two years. The school has not had a proper renovation in decades and the swelling population has only magnified the issues. The plan includes state-of-the-art renovations such as 40 new classrooms, new spaces for science, performing arts, visual arts, practical arts, kinetic fitness, kitchen, cafeteria, library, gym and fieldhouse.

Some practical matters need to be addressed as well. The current Tech Arts building still has the original single pane windows and no upgrades have been done to the heating, air conditioning and ventilation since they were installed. The plan would also beef up fire safety and campus security.

In essence, the east and west sides of the campus would be demolished, including the existing gym/field house, the Tech Arts building, music and performing arts building and cafeteria. The architects, Perkins + Will presented their final plans to the board this week.

Not everyone is thrilled with this proposal. In difficult economic times voters want their governments to rein in spending and don't see the value added. As a resident of New Trier township, I have had two children graduate from New Trier. Although I don't benefit directly from the school anymore, as a realtor I understand the significance of this school and the draw it has on newcomers willing to spend more to live in the district.

A special school board meeting will be held Nov. 3 at the Winnetka Campus at 385 Winnetka Ave. A presentation and tour is planned for interested residents. More information can be found at New Trier's website: Facilities Initiative.

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

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Great Winnetka Value - 2 Bedroom Condo for $174,900!

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Tue, 20 Oct 2009 19:00:07 -0500

Great Winnetka Value!

2 Bedroom Condo in Downtown Hubbard Woods

You can't beat this sunny and bright condo for value . . . 2 bedrooms, 1 full bath, hardwood floors throughout, end unit with south and west exposures.

A 1-minute walk to the Metra Station

Restaurants in all directions

Tower Road Beach just several blocks away

Stores, services, banks, communites services nearby

Plus an updated kitchen with tumbled stone backsplash, tall cabinets, dishwasher, storage unit and new appliances.

Kitchen with tumbled stone backsplash, new cabinets and appliances

Bright and sunny with south facing window and hardwood floors throughout

Park and Metra Train Station just across the street

Vintage Tudor Styling

Eat-in space

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Finally It's a Beautiful Fall Day in Winnetka!

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Mon, 19 Oct 2009 16:10:22 -0500

Summer wasn't so hot.

Fall has been cloudy and damp.

But then today happened - warmer temperatures and the sunshine just made the fall colors sparkle like rubies and garnets.

Here's my take on today:

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

No Dairy Queen for Winnetka!

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sun, 18 Oct 2009 14:07:46 -0500

No Dairy Queen for Winnetka!

Winnetka residents waited all summer long for Dairy Queen to open up on the corner of Elm and Lincoln streets. The windows to the old Depot restaurant were papered over and a hopeful sign there said Dairy Queen was doing the renovations.

Month after month went by and the brown paper in the windows started to look bedraggled and the permit vanished. Nary a workmen showed up. I started to worry when I called Dairy Queen last spring inquiring about the opening date and was told there were no plans to open one in Winnetka.

Now it's confirmed. The head of business development for the Village of Winnetka told me this week that the company has canceled its plan. Why? The original store was to serve only ice cream and treats - then someone at the corporate office decided that they should also serve hamburgers and hot dogs.

Well, unfortunatley for Dairy Queen, D's Haute Dogs, just a few storefronts to the north at 551 Lincoln, already had that business. The Village felt that since D's was in first, their business should be protected and Dairy Queen pulled out.

If you really need a fix of Dairy Queen you'll still have to drive over to Lake St. just west of the Edens. Or, you could go to D's Haute Dogs which is now serving smoothies.

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Stage the exterior for under $50

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sat, 17 Oct 2009 14:51:23 -0500

As an agent who strongly believes in staging (and has staged homes since before the word "staging" became commonplace,) here's a little twist on that idea. Use an upcoming holiday to dress up the house without spending a fortune.

Via Jennifer Grant (Low Country Home Staging & Interior Design):

Anybody can dress up an entrance or yard by simple adding a seasonal display outside. This will make the home seem warm and inviting. Don't forget those potential home buyers are already forming opinions as they are pulling up to the house. Having an inviting display outside of the home can give the potential home buyer the "warm fuzzy" feeling right from the start. Setting the tone when showing a home starts the entire emotional attachment. So when you are staging a home, don't forget about the outside too!

This is a quick and easy display that you can duplicate under $50. Enjoy~

Thanks for visiting my site! Please visit often for upcoming homestaging tips and creative ideas!

Jennifer Grant
843-457-2167
Pawleys Island, South Carolina
Low Country Home Staging & Interior Design
Website:http://www.lowcountryhomestaging.com
Email:jennifer@lowcountryhomestaging.com

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Winnetka, Wilmette, Kenilworth, and Glencoe - Foreclosues and Short Sales

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sat, 10 Oct 2009 16:15:17 -0500

Just a few years ago, the bewildering words "short sale" were starting to pop up in our realtor meetings. No one really bothered to learn much about them since things like that didn't happen on the North Shore. Maybe in Evanston, Chicago, or the south suburbs.

Not so today. Realtors have had to listen and learn about the implications of short sales, pre-foreclosures, foreclosures, auctions, and other distressed properties. Certainly the North Shore has not been immune. While recently showing condo properties for a friend on the North side of Chicago, fully 90% of these units were distressed. The North Shore is not seeing numbers approach anything close to that, but enough to raise heads and have people calling and asking about them.

Here's how the numbers look:

Total Units for Sale Short Sales/Foreclosure

Winnetka 204 7

Northfield 75 4

Wilmette 189 13

Kenilworth 53 1

Glencoe 22 4

During the past week in Winnetka there were two extreme instances:

719 Lincoln, originally priced at 2,900,000 in 2006, inexplicably raised to $4,300,000 in 2007 and finally selling at $1,260,000.
384 Hawthorn, originally sold in 2005 for $2,570,000 and just listed (under contract) for $1,336,500.

No wonder interest in these properties have jumped. But buyers need to understand that not every such home will be reduced to almost half. In a short sale, the owner is trying to avoid foreclosure and owes more on the loan than the house is worth. The homeseller is trying to sell the house for less than the loan amount and the bank may or may not approve the sale - a process which can take many months to work out. In the end, the bank may try to get the seller to refinance the loan and avoid taking the loss on the loan.

In a foreclosure, the homeowner has defaulted by not making payments. The process is complicated and there are several different types of foreclosures. In the end, the house is put up for sale and generally sold at a large discount.

Many people think the great wave of foreclosures is behind us as people with subprime loans defaulted. But some, like me, think that the next big wave is just beginning and those with prime loans begin to have difficulty making payments. I recently read a prediction that the next surge will not peak until 2013.

These distressed home listed about are available now for purchase. If you would like more information, please give me call and I'll be happy to discuss them with you.

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)

Wilmette - What a View! What a Price! 1630 Sheridan Road

Margaret Goss, Realtor Winnetka & North Shore Real Estate (Baird & Warner) — Sun, 04 Oct 2009 15:32:14 -0500

Big Views . . . (from every room!)

Tiny Price . . . ($188,500!)

Have you dreamed of waking up in the morning to beautiful, sunny lake views? Or what about windy roiling waters? Maybe deep dark clouds with a promise of rain?

How about 1 level living? Not feeling like swimming in the lake? Go ahead and try the heated pool or soak yourself in the hot tub.

For the unimaginable price of $188,000 you can have a premier two-bedroom, two-bath unit at the prestigious 1630 Sheridan Road building. While the lake sits on one side, the other side offers Plaza del Lago shopping including dining, grocery shopping, Crate and Barrel, Starbucks, gift stores, clothing stores, and summer art shows.

Really . . . what are you waiting for?

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Margaret Goss GRI, CRS

Baird & Warner, Winnetka IL

847-977-6024 (cell)

www.CallMargaret.com (website)