Noah Levy: February 2010

Cures for Cabin Fever in Highland Park Illinois.  Do you or your kids need some?

This morning Highland Park IL residents woke up to... surprise!  More snow.  So what to do when it's too cold and snowy to head outside?  There's no shortage of free wonderful options here in Highland Park and  on Chicago's North Shore.

- Visit the Jammin' Jungle indoor playground at West Ridge.  Kids will love the slides, their parents will get a kick out of the Trader Vic's style tiki decor.

There's nothing better than seeing our dog -Winter enjoying the snow in Highland Park Illinois.                  Until I drove by and saw this - AMAZING!!!

The group of deer was prancing through West Ridge Center Park in Highland Park and then ran across the street trying to figure out where/how  they could duck back into the woods. 

Since the beginning of 2010 the Real Estate market in Highland Park Illinois has been VERY ACTIVE!  The market is filled with buyers. Many sellers who want to sell have their homes listed competitively (or have re-adjusted their list price) for today's Real Estate market in hopes of attracting those buyers out in the marketplace. We hear about and read about the market as a whole but each market differs.  Whether you are in the market to buy a Highland Park home or to sell your current Highland Park home, it is important to have an understanding of  the market  (or at least to work with a knowledgeable Highland Park IL REALTOR who does).

Curious as to how many and  which Highland Park Illinois  listings went under contract since the beginning of 2010?  A total of  twenty eight homes  have gone under contract since January 1, 2010 (seven of the twenty eight homes were foreclosures/short sales). Below is a  list of the homes which are under contract since the beginning of the year. Be sure to pay attention to the original list price/last list price and Days on the Market.  Many of these homes were "re-listed" so the actual market time/price may have originally been been longer/higher. If you would like a more detailed analysis of the Highland Park Market please call me and/or email me.

LOCATION                                          DOM                     ORIGINAL LP                         CURRENT LP

1733 Rosemary                                    89                      $ 161,000.00                        $ 148,500.00

970 Burton                                         113                      $ 299,000.00                        $ 249,000.00

1245 Eastwood                                     32                      $ 254,900.00                        $ 254,900.00

1958 Castlewood                                227                      $ 400,000.00                        $ 269,000.00

860 Old Trail                                     154                       $ 349,000.00                        $ 279,000.00

765 Llewellyn                                     333                       $ 350,000.00                        $ 280,000.00

3525 Old Mill                                     114                       $ 331,650.00                        $ 315,100.00

832 Sumac                                        485                       $ 399,000.00                        $ 369,000.00

1657 Huntington                                259                       $ 400,000.00                        $ 350,000.00

2615 Roslyn                                      192                       $ 424,900.00                        $ 350,000.00

3433 Summit                                      42                       $ 359,000.00                        $ 359,000.00

628 Gray                                           140                      $ 489,000.00                        $ 449,000.00

861 Driscoll                                        242                     $ 640,000.00                        $ 471,900.00

1462 McDaniels                                      4                     $ 495,000.00                        $ 495,000.00

2205 Kipling                                       561                     $ 750,000.00                        $ 499,000.00

1076 North                                         256                     $ 545,000.00                        $ 499,000.00

2156 Grange                                      520                     $ 589,000.00                        $ 525,000.00

49 Lakeside                                       158                     $ 599,000.00                        $ 549,500.00

240 Hastings                                      355                     $ 549,000.00                        $ 549,900.00

1440 Oakwood                                   268                     $ 742,500.00                        $ 599,000.00

1430 Oakwood                                   510                     $ 1,070,000.00                     $ 699,900.00

881 Timber Hill                                    45                     $ 799,000.00                        $ 799,000.00

1990 Deerfield                                   830                     $ 1,249,000.00                     $ 879,000.00

1213 Glencoe                                    129                     $ 975,000.00                        $ 975,000.00

136 Lakewood                                   530                     $ 1,495,000.00                     $ 1,020,000.00

294 Delta                                           14                     $ 1,399,000.00                     $ 1,399,000.00

1750 Sunnyside                               1322                    $ 2,999,990.00                      $ 1,775,000.00

1008 Sheridan                                   212                    $ 2,399,000.00                     $ 2,199,000.00

 It does not matter if you are selling your home in Highland Park, Deerfield, Glencoe or Buffalo Grove. The key ingredient to selling your home is to PRICE YOUR HOME CORRECTLY!!! Take a look at this success story Judy Greenberg of Coldwell Banker in Buffalo Grove had with one of her listings!!

Are we in a buyer's market?  According to everything I read and everyone who "talks"  Real Estate we are in a buyer's market.  However, based on my own experience this week  I have been pondering this topic.

I have been actively working with a young couple to find a home on Chicago's North Shore since October.  We have looked at numerous homes and until last Saturday nothing was even remotely exciting to them.  A week ago Thursday I saw a new listing pop up - it was not everything my clients had on their wish list - but I knew based on what was important to them in a house  that this was the house for them.  I normally email them new listings but with this listing I emailed and called them.    We got into the house along with a dozen plus buyer's and YES my client's loved the house.

We did not want to waste any time  -  I wrote up  an offer for my buyer's and started the process.  The seller was not giving much on the asking price.  I asked the seller's agent if there were other interested parties and he said that there were two others but no other written offers at this time.  As I stated earlier, my clients have been looking at homes since October so they knew from viewing  many other homes (without me having to say anything)  that this house was PRICED VERY WELL for today's market.  We agreed to a purchase price and all other terms - included in the terms was THAT THE SELLER HAD 72 HOURS TO FIND A HOME OF THEIR CHOICE.

The listing agent had explained to me that finding a home of their choice would probably only be 24 hours as they had already started negotiating a buy for her seller.  Obviously my clients were very excited about finding the perfect home so they agreed to the terms and the contract was signed by both parties. 

Well,  here is what was taking place with the house the seller wanted.  Another buyer was also interested in the house and had written a very CLEAN OFFER  and the seller of the house agreed to the terms and signed the contract.  The seller's agent and the seller of the home my clients are trying to secure had no idea that there were any other interested parties interested in this home.......Pretty wild who would've thought that this would be going on in a buyer's market?!?!  Meanwhile, my clients have been asked for an additional three day extension from the seller's in hopes that they find a perfect home.  My clients have agreed and are anxiously waiting to hear the outcome.

So is it a buyer's market?????  If a home is priced well than the home is going to sell quickly!!! If the home looks best amongst all other inventory in the market place it will sell quickly.  I know I have just witnessed this TWICE!!!!

Style Shack will be opening its doors on February 16th in downtown Highland Park.  The location for the store is 447 Central Avenue Highland Park, IL.  For those of you who are not familiar with Style Shack let me share. It is a place where you can find unique, whimsical, fun and practical gifts varying in price for anyone and everyone. Style Shack was formed by two very creative women - Sherry Levin and Dawn Pye.  They have been in business for a few years and have had there merchandise available on line www.styleshackgifts.com and for sale out of their homes. 

I am so excited that they will have a storefront in Highland Park as I have been a regular at the Style Shack.  I have purchased many housewarming gifts, gifts for family, girlfriends and my kid's teachers  from the Style Shack - not only do I love the selection but I always appreciate  Sherry and Dawn. They are always helpful and creative in putting together a fabulous gift.  Often times I will place a call to Sherry tell her the purpose of the gift and how much I want to spend and she will put something amazing together.  Every gift is gift wrapped beautifully regardless of the cost.

So the next time you are in downtown Highland Park, IL be sure to stop by the Style Shack - you'll be glad you did. I am certain that you will walk out with something for yourself, someone else or both. 

Highland Park Illinois Real Estate Market Update

Curious how the Highland Park Illinois Real Estate market is? Is it a good time to buy? Is it a good time to put your home on the market?

As a Real Estate Professional and a resident of Highland Park IL I am often asked questions about the Real Estate Market. I believe that 2010 is off to a great start!! Homes are selling, there are various buyers within various price points (who are actually ready to buy), interest rates are holding their own and the tax incentives  are a benefit to some buyers as well as sellers.

Currently there are 289 single family homes on the market - ranging from $139,000 - $8,930,000. A buyer who wants to move to Highland Park has a wide range of inventory to choose from not only in terms of price but also in terms of location and the condition of a home.

Additionally,  44 single family homes are under contract and 18 single family homes closed in January,2010.  Of the 18 homes that closed  only one home was a bank owned property the rest of the closed sales were conventional sales.  This is a positive sign for the Real Estate Market.

Are you planning on selling your home in 2010?  Before you do take a little bit of time in prepping your home  .  It's amazing what a few minor repairs and a fresh coat of paint can do to a home.   But don't wait too long -  the current Real Estate Market is active. 

Are you a buyer who plans on buying in 2010? Be sure to partner with a Real Estate Professional who works full time, knows the marketplace and understands your needs. A Real Estate Professional not only helps a  buyer find a perfect home they are there from start to close and will guide you throughout the entire process.