All About Illinois Real Estate

By Scott Seaton Jr. SLS Home Insp, The Home Inspector With a Heart!
(SLS Home Inspections-Kankakee Will Iroquois Grundy Counties)
OOh OOh that smell.      In my 15 years inspecting homes, I've seen so may weird and wacky and just plain stupid things, I really should just write a book. I can tell you it would be a best seller.     For instance, tell me these aren't crazy things to find on an inspection.Cut off mannequin head just inside the attic hatch. Oh, it also has fake blood on it's face. Real funny Mr Seller.     How about finding an oil painting of a nude woman in the attic of a nearly empty house, who just happens to be packing up her last few things downstairs. I'm sure she forgot it was in the attic and I was not going to be the one to remind her to pack it. Picture available upon request. :-)     But the craziest thing ever was the day I pulled up to an old home by the Kankakee River. Seller comes walkin...
Comments 10
By Scott Seaton Jr. SLS Home Insp, The Home Inspector With a Heart!
(SLS Home Inspections-Kankakee Will Iroquois Grundy Counties)
OOh OOh that smell.      In my 15 years inspecting homes, I've seen so may weird and wacky and just plain stupid things, I really should just write a book. I can tell you it would be a best seller.     For instance, tell me these aren't crazy things to find on an inspection.Cut off mannequin head just inside the attic hatch. Oh, it also has fake blood on it's face. Real funny Mr Seller.     How about finding an oil painting of a nude woman in the attic of a nearly empty house, who just happens to be packing up her last few things downstairs. I'm sure she forgot it was in the attic and I was not going to be the one to remind her to pack it. Picture available upon request. :-)     But the craziest thing ever was the day I pulled up to an old home by the Kankakee River. Seller comes walkin...
Comments 1
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Naperville, IL appears nationwide  as one of the top cities to raise a family by Money, Niche, livability and other publications and websites.  With a flourishing downtown, strong tax base, top restaurants and a variety of housing stock this town of less than 150,000 people draws homeowners with a median home price of $605K as of August, 2022.For the intents of this review/analysis "luxury real estate" will be homes priced $1 Million and up.   Currently there are 66 single family homes available from $1M to $6.5M.  Two of these listings have been on the market 7 days or less.The lowest priced home currently is a "new construction" home with 5 bedrooms, 4.1 baths, 3 car garage with aprx. 3,440 square feet.  The home will include a full unfinished basement.  Great one if you want to put y...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What is the Private Listing Network in Winnetka & the North Shore TWO THINGS HAPPENED IN REAL ESTATEIn 2018, our Northern Illinois Multiple Listing Service (MRED) introduced the “Private Listing Network” (PLN) to real estate agents.  Then, in November 2019, the National Association of Realtors banned the use of “pocket listings.”  The ban has been challenged but stands for now.  WHAT IS A POCKET LISTING?First, what is a pocket listing and why is it problematic? A pocket listing (sometimes called an exempt listing) is an agreement between the home seller and real estate agent (more specifically, the brokerage) that the house will not be listed on the  Multiple Listing Service (MLS,) but rather sold behind the scenes. There are multiple reasons sellers might not want their homes publicly ...
Comments 8
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Not ready for Prime Time but listed  in the Private Listing Network!  If your lifestyle is not conducive to outside home maintenance because  of your busy schedule or you have higher priorities than mowing the yard or removing snow during the winter, than you will love the maintenance free lifestyle this townhome provides!Located in the Reflections subdivision off Eola Road and Liberty Street in Aurora IL, it boasts one of the largest floor plans in  the subdivision - 3 Bedrooms, 2 baths, 2 car garage 2nd floor unit with over 2, 000 square feet!  Located in highly rated school district 204 with elementary school located within subdivision and Matea Valley High School a short car drive away!Private entrance with newly refinished hardwood floor leads to an Oak staircase to the main living...
Comments 6
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
See What Sold in Your North Shore Village in August 2022Inventory came down some more in August in Winnetka, Wilmette, and Glencoe, but stayed stable in Kenilworth and Northfield. Homes that sold in August did not have as many homes selling "over list price" but they were very close. Some of the stats don't always make a lot of sense. The market was on fire in 2021, yet homes are going under contract much faster this August than in August of 2021. The lack of inventory is clearly still having an effect on the market. As an example, 29 homes are currently for sale at this time in Winnetka. Last August, there were 49 and that was considered low. Wilmette currently has 34 homes for sale, and last year it was double with 69 homes for sale. WINNETKASee all Winnetka homes and condos that sold...
Comments 1
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
I just did a quick look at the August closed single family numbers and it appears that buyers have stepped back from the market as there were only 49 closed sales in the detached single family homes in August, 2022.  These numbers are not  "official" and I will update as soon as MRED publishes the final numbers.The lowest priced home was a 2 bedroom 1 bath home in downtown Oswego for $160K and the highest priced home was a 5 bedroom 3.5 bath home on 1 acre with a walkout basement for $935K (originally listed at $1.25M).  Let's compare to home sales in August 2021 which had 56 closed sales.  It's obvious buyers have stepped back as those pesky interest rates have made it more difficult to qualify for the same priced home in August 2022.A quick google search shows that on August 5, 2021 t...
Comments 2
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
First let's start with the July 2022, single family detached home sales analysis:Sales dropped 17.5% from 2021's closed transaction of 63 to July's 52 closed homes.The average market time went up 13.3% to 17 days from 2021's 15.  Price appreciation on the median sale price went up 12.6% from 2021's $357,500 to $402,595!A deeper analysis shows that 16.98% of homes sold for list price, 28.3% sold for less than list price and 54.72% sold for more than list price.  So far more than half of homes are selling for more than the asking price which is great for sellers!As we go into the Labor Day weekend - as of 2:14 p.m. we currently have 63 available  single family detached homes.   Of these 5 are "New" listings, 3 are reactivated listings, with price changes on 4 homes.  Fifty-one homes have ...
Comments 4
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in August 2022Hubbard Woods had just 2 new listings in August, which is 2 less than July. Five homes closed compared to 12 in July. And the median price of homes rose from $1.5M in June to $1.515M in July, to $1,660M in August.   HUBBARD WOODS 2 NEW LISTINGS - AUGUST 1485 Scott - $1,199,000 (under contract) 921 Fisher - $2,999,000   HUBBARD WOODS 2 NEW PRIVATE LISTINGS - AUGUST  1153 Asbury - $660,000 (under contract) 814 Boal Pkwy.$3,150,000   HUBBARD WOODS 5 SOLD HOMES - AUGUST 1330 AsburyList price: $1,625,000Sold price: $1,700,000Days on market: 4 838 LocustList price: $1,595,000Sold price: $1,765,000Days on market: 6 681 WaldenList price: $1,899,000Sold price: $1,800,000Days on market: 20 940 Private LnList price: $4,250,000Sold price: $3,900,000 ...
Comments 3
By Scott Seaton Jr. SLS Home Insp, The Home Inspector With a Heart!
(SLS Home Inspections-Kankakee Will Iroquois Grundy Counties)
Questions        1.  We all go on vacation to get away from it all and have a great time, but I want to know, what vacation day was your worst? My wife Mary and I got married in October 1981. Went to Mexico with plans to stop in Dallas for a few days to visit her Aunt Erika and Uncle Imants. 2 days after arriving in Dallas my wife got really sick. I was fine until.... I was with Imants at the Kennedy Memorial and that's when it hit me. We spent the next 5 days in bed violently ill and had to delay our return home an extra week.     2.  What would be your bucket list vacation or, if you have already taken it, tell us about it?  Pictures encouraged. Already did it. Twice. Boundary Waters in Canada. Canoe only, no powered boats. Crazy good fishing and the starriest sky you could ever see. ...
Comments 9
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
What's Ahead for Winnetka & North Shore Real Estate?There are so many differing opinions about where the real estate market is headed. This is what I know and what I've gleaned from the real estate sources I follow. After having a super hot market for almost two years, change is definitely in the air. We see it locally with three markers: price reductions contracts falling apart longer days on market Inventory is still historically low but slowly, very slowly, creeping up. Conversely, mortgage rates have risen since June, and fallen again. It's a concern for some buyers who have decided to wait it out on the sidelines.This slowdown does not mean that we're in a depreciation phase - but rather a deceleration phase. Some real estate insiders think the market will pick up later this year a...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Here is What Sold in Your North Shore Village in July 2022Nationally, changes are happening a bit faster than here on the North Shore. These changes include price reductions, increased market times, and contracts falling through. In other words, the usual.In spite of these changes starting to occur here, the numbers from July 2022 were very strong. Of course, these statistics are lagging indicators since they went under contract several months ago. Inventory is up in all villages from the previous month (which I have indicated, below) and this is good for buyers looking in our area. The median price has also risen across the North Shore.  WINNETKAClick here to see all Winnetka homes that sold in July 2022Homes for sale: 37 (29 last month) Private network homes for sale: 5Median price ye...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Hubbard Woods Winnetka Real Estate in July 2022July's real estate statistics reflect sales dating from February to July, with six sales in April. For the most part, these numbers are lagging and don't reflect the changes we're seeing in the real estate market. Just four new homes came on the market last month with 12 closed homes. Of those 12 sales, 2 sold for less than listing price, 4 sold at list price, and 6 sold for over list price. The median price of a Hubbard Woods home has risen 59% since 2021. I checked the number twice it's so incredible. I think we've peaked as mortgage rates and reality are settling in.  4 NEW HUBBARD WOODS LISTINGS IN JULY 2022 1381 Asbury - $1,345,000 1240 Tower - $1,468,000 1016 Westmoor - $2,599,000 1330 Westmoor - $4,795,000   12 CLOSED HUBBARD WOODS L...
Comments 1
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Where to Find the Cheapest Gas in Winnetka and the North Shore Gas prices! Whatever can be done? There's no place to escape to - it's expensive everywhere.I drive a lot - it's an occupational hazard.  But what about you - have you tried to cut back by walking or biking (okay for a few summer months) or combining errands (good for those that can remember things and are organized.)I'm usually on fumes when I pull into whatever station is nearest - and they're all too expensive right now in Winnetka and Wilmette, or even Glenview and Northbrook. So here's a little help for your starved wallets - Gas Buddy - a good site to just plug in your zip code and be directed to the cheapest local gas prices in the area. There are other sites like this one but what I like about Gas Buddy is that ther...
Comments 2
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Wilmette IL Condos for Sale at 1616 Sheridan Road1616 Sheridan Road is a condo building located on the lakefront in the area known as No Man's Land. It is conveniently located right across the street from shopping, restaurants, medical, and dental offices.The building was built in 1961 and has 10 stories and 83 units. They range in size from 1-bedroom up to 3-bedroom and are always on one level (no stairs.)  1616 Sheridan is one of the few buildings along the lake to allow a few rentals.The building does not have a doorman and residents use key fobs to enter the building.  Most do this through the garage, entering within a secure area of the building. There is an on-site manager, garage man, and maintenance staff.The amenities include an outdoor pool, private beach, guest suite, party r...
Comments 1
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Plainfield IL has become one of the preferred towns to buy in when you are unable to get an accepted offer in surrounding Naperville or Oswego.  Here are the June's closed home sales for both detached and attached home sales in June.Detached - 145 in 2022 compared to 205 in 2021.Attached - 48 in 2022 compared to 46 in 2021 (An actual increase)With  the current inventory levels barely enough to cover 1 months past sales July sales should be interesting.Detached Inventory levels - 146New - 22Reactivated 3Price Changes - 22Active - 99Attached Inventory Levels - 38New - 3Reactivated - 1Price Changes - 4Active - 30Official numbers will be released in the next few weeks from MRED*
Comments 1
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
Illinois' 2nd city, Aurora, is following the trend of less sales compared to 2021 with only 162 closed transactions in June 2022, compared to the 207 closed transactions in June 2021.  The attached home sales were at 81 closed transactions compare to 103 in 2021.  The increase in interest  rates and the low inventory is  slowing putting on the breaks in actual sales although prices themselves are still appreciating.  Current inventory levels (7/14/22) are at 116 for single family detached with another 61 homes available in the attached home category (condo/TH/duplex).The official numbers will be released in the next few weeks by MRED*.  Come back to see the updated  numbers.
Comments 0
By Evelyn Santiago, Managing Broker Heart Realty Group, Inc., Passionate About Real Estate & Our Clients!
(Heart Realty Group, Inc..)
The unofficial housing stats for June 2022 for Naperville, IL follows:In the detached single family category there were 249 closed sales in June compared to 2021's 318 closed transactions.  A definite slow down in sales for June.Current inventory as of 7/14/22 stands at 241 available listings.New- 42Reactivated - 3Price Change - 14Active - 182 The attached single family category had 80 closed transactions in June, 2022 compared to 112 closed in 2021. The trend continues in the condo/TH/duplex category.Current inventory is at 54 available units broken down into:New - 11Price Changes - 4Active - 39Official stats will be released in the next couple of weeks from MRED*.
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Winnetka North Shore Condo Report Jan-June 2022Condo and townhouse sales have been robust in the North Shore villages of Winnetka, Wilmette, Glencoe, Northfield, Glenview, and Evanston.Evanston has the highest inventory and thus the largest number of sales. Conversely, Glencoe doesn't have the condo inventory of other towns but what they do have sold quickly and for slightly over the asking price. Going back to 2019 (chart below) it's interesting to see that while sales are generally lower, the median price ranges back and forth from higher to lower. The one constant is that the average market time was higher and the list-to-sell ratio was lower in 2019. Note that in 2019, Glencoe condo sales were dismal. They had long market times and sold for much less than the list price. And a compl...
Comments 0
By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
See What Sold in Your North Shore Village in June 2022 WINNETKAClick here to see all Winnetka homes that sold in June 2022Homes for sale: 36 ($650,000 to $16,000,000)Private network homes for sale: 9Median price year-to-date: $1,500,000Current supply of inventory: 1.4 monthsSee all Winnetka homes for saleSee all Winnetka condos for sale WILMETTEClick here to see all Wilmette homes that sold in June 2022Homes for sale: 40 ($385,000 to $3,200,000)Private network homes for sale: 8Median price year-to-date: $895,000Current supply of inventory: 1.1 monthsSee all Wilmette homes for saleSee all Wilmette condos for sale  KENILWORTHClick here to see all Kenilworth homes sold in June 2022Homes for sale: 11 ($900,000 to $14,000,000)Private network homes for sale: 3Median price year-to-date: $2,100...
Comments 1
Illinois Real Estate Agents and Real Estate Professionals