Evanston IL Real Estate

In 2000 35 million people 65 years of age and over were counted in the United States. Out of those 18.4 million were between the age of 65 and 74 years old. This group (65-74) represents 53% of all older adults.

The percent of people 65 years and over living in nursing homes is declining particularly for those people 85 years and over, where only 18 percent were living in nursing homes in 2000. If this trend continues with the baby boomers becoming the next largest group of seniors then we should see an increase in sales for this age market.

If you want more information on this subject or would like to discuss real estate options for you, I have set up a special hot line just for you.

Free Information 24 hours

1-888-307-7311  Ext 17

just got off the phone with a client who has a plan to retire in Hawaii in the next couple of years. His ultimate scenario is to find a house on the beach. This struck me because there are many different ways to plan for your retirement and many different places to choose to live. Do you want to live on the beach, or how about in the mountains, in a rural setting or urban setting. Different strokes for different folks. To start your planning pick up a book or magazine. I just recently received a copy of a magazine titled” Where to Retire” and one of the articles in the magazine is ” The best tax heavens and the worst tax hells”. Interesting article if you are on a budget and do not want to pay a lot on Real Estate Taxes. If you would like to discuss your retirement plan I have set up a special hot line for you.                                                   FREE INFORMATION 24 Hours
1-888-307-7311 Ext  17

How to Downsize to a Smaller Home:You have been living in your house for over 20 + year. You have raised your children in your home and they have all moved out. You have lots of equity in your house and the thought of moving to a smaller home has crossed your mind?

Learn how to downsize with simple easy steps. With today’s real estate market being a buyers market its a good time to buy a retirement home but what do you do with the home you got? Well I have the steps to help plan your move.

If you are planning to do something in the next 6-12 months and need help with this planning then give me a call. I have set up a 24/7 hotline number just for you.

            FREE INfORMATION 24 Hours

                                                            
1-888-307-7311 EXT 17

 The other day, a person asked ” How did the North Shore get its Name?   I thought this was a good question and should be answered.

The North Shore represents a stretch of land along the lakefront due north of Chicago and it is made up of nine suburbs located between 13 and 35 miles from the Loop, the city of Chicago’s central business district. The largest community is Evanston and the smallest is Kenilworth. Most of the cities were incorporated between 1860 and 1870. Despite differences to each community the demographics have always reflected the wealth, education and social status of residents. Although many of the most elegant homes face  Lake Michigan this was not always the case. Prior to 1900 sewage poured into Lake Michigan and the spread of disease and polution were a problem. It wasn’t until the Army Corp of Engineers solved this problem by reversing the flow of the Chicago River and forced sewage to empty into the Mississippi that homes along the Lake Front became a more attractive choice. All nine towns that make up the North Shore owe their existance to the development of the Chicago and North Western Railroad in 1866. Chicago Mayor Walter S. Gurnee was president of the Railroad. Gurnee was an ambitious man and became very wealthy when he purchased most of the available land surrounding the railroad stations of Winnetka, Glencoe, Highland Park and Lake Bluff.

If you are interested in learning more history of Chicago I recommend reading ” North Shore Chicago”  Houses of the Lakefront Suburbs 1890-1940 by Stuart Cohen and Susan Benjamin.

 My advise to new buyers  is  before you look at homes  to buy go get pre-qualified for a loan. With  mortgage defaults and foreclosures on the rise, lenders are going back to the basics which is full documentation loan. What this means is that if you are a buyer and  are applying for a new loan then you must have good credit (FICO scores), show proof of income with W-2’s,  1099’s if sell employed, and have sufficient money for a down payment (10 % of the purchase price). I also would advise new buyers not to be house rich and cash poor. What I mean by this is do not stretch your ability to make monthly payments on your home. Keep within a budget. The old rule of thumb was that you should not have a mortgage greater than 2.5 times your annual salary. Another  way to look at it is thr0ugh income to debt ratios. Your mortgage payment should not exceed 28% of your annual income or 36 % of total debt which includes not only your mortgage but other living expenses (i.e. utilities, insurance, auto, food).

As of today’s date there are 227 homes for sale in Evanston, IL and 36 homes under contract since January 1, 2008. According to this information the average time on the market in Evanston is 6 months. Of interest is the number of homes under contract that have Home Sales Contingencies or Homes to Close Contingencies. (Home Sales Contingencies occur when the buyer has a home to sell but has a contract on a new home or a Home on the Market with a Contract but has not closed). According to the MLS there are 9 homes out of 36 homes that have such contingencies. What does this tell you about the real estate market in Evanston? Well in a very active buyers market such contingencies would never exist. Does this mean the Evanston market is slowing down? It is hard to say just yet. We are just entering the Spring real estate market and have had unusually cold weather and lots of snow which has turned many buyers away from the real estate market. It does however appear that Sellers are more anxious to sell and do not want to lose potential buyers and are accepting Home Sales Contingencies for the moment. I suspect when the market improves these contingencies will no longer exist.

Dear Friends,

Just a quick note to let you know how business is going this year. As you have probably heard, real estate home values are declining and sales of existing homes is at an all time low. Well, I am here to tell you some Good News! My business is doing great and getting better each day because I have started a career path to help people who are falling behind with their mortgage payments and have already received a Notice of Default. As a pre-foreclosure specialist I am helping people avoid foreclosure. If you or someone you know needs my advise can you ask them to call me. Wouldn’t it be nice to refer a family member or friend to someone you know and trust. Remember the help they receive may be their wisest real estate decision. I am giving you my 800 number which I have set up to assist people and to schedule a FREE CONSULTATION.

FREE INFORMATION 24 HOURS :

1-888-307-7311 EXT 11

If you or someone you know is in the market to buy a home and would like some information on how to buy a pre-foreclosure home then they can visit my website . (Search my listings and homes for Sale)

Every Tuesday from 9:30 am to 12:45 pm Evanston Br okers Tour Listings which are currently on the market for sale. Today was one of those days. On tour today were 56 properties for sale (16 Single Family Homes and 38 Condo’s).
This is just a small sample of properties on the market. Today I decided to tour properties that are in different price categories to let people know what they could buy in Evanston.

List Price:

$150,000 : You can buy a 5 Room, 2 Bedroom 1 Bath unit totaling 1,600 SF in a Landmark Coop building. Unit needs updating.

$265,000: You can buy a 5 Room, 2 Bedroom, 2 Bath unit in a 1965 Era Elevator building in SE Evanston. Unit again needs some updating but there are only 4 units per floor.

$350,000: You can by a totally remondeled Vintage Condo in SE Evanston which has a total of 6 Rooms, 2 Bedrooms, 1 Bath. Everything has been done including Master Bedroom utilizing hall bath, in-unit laundry with office combo, and gorgeous kitchen with stainless steel appliances.

$445,000: You can buy a 6 Rooms, 2 Bedroom, 2 Bath Townhouse in downtown Evanston.

$500,000: Tired of Condo living!!! Well you could own a 6 Room, 3 Bedroom , 1.5 Bath Farmhouse close to Downtown Evanston, shopping and Northwestern student housing.

$600,000: Sorry. I did not see anything in this price range today.

$799,000: For just under $800,000 you can own a 7 Room, 4 Bedroom, 1.5 Bath home in NE Evanston on a very prestigious street. Great location within walking distance to lake, Northwestern and Downtown. Some updates to this house are needed.

$800,000: Sorry. Did not see anything in this price range today.

$974,000: For just under a $1,000,000.00 you can buy a 8 room, 4 Bedroom, 3.2Bath Townhouse

$1,675,000: For just over $1,500,000.00 you can buy a 14 Room, 4 Bedroom 5.5 Bath Home in NE Evanston which is located East of Sheridan Road and less than a block from the lake. This home has all of the modern amenities a home owner would desire and is in the perfect location.

$2,850,000: Finally, you could own a modern 4 Bedroom, 3 Bath Penthouse Condo in Downtown Evanston with floor to ceiling windows, open floor plan with the most magnificent views of downtown Chicago, Lakefront, and Bahai Temple.

For information on any of these listings or to have other active listings sent you can visit my website and search on your own or with my assistance .

What do I mean when I say your success is my success. Well, every real estate transaction goes through a series of stages ending up with a successful conclusion which is buying or selling a home. Following are the stages I think about when working with buyers and sellers. I…

S- Seek to understand my clients needs, wants and desires.

U-Utilize my Knowledge as a real estate consultant

C- Contract and Negotiate

C- Coordinate the transaction details

E-Establish a Celebration Date

S-Set up a Moving Date

S-Set up a Lifetime Relationship

If you are looking for a realtor that has your interests in mind I hope to hear from you.

I feel it is time to give my opinion about the current real estate market since we are getting close to the holiday’s and look forward to being with family and friends. Real estate typically goes into hybernation during these months and then the anticipation begins for the Spring.

What will the real estate market look like this Spring? I feel the Spring Market in 2008 will remain a buyers’s market because there will still be a large inventory of homes on the market which did not sell in 2007 back on the market again in the first quarter of 2008.

How will buyers and sellers adjust to new challenges? The next big challenge will be how both buyers and sellers adjust to short sales, foreclosures, and bank owned properties. Experts are predicting more foreclosures in 2008 and as a result the real estate market will have a record number of homes for sale in 2008. I do not see the real estate market getting back to a normal market for a couple of years. Short sales, foreclosures, and bank owned properties are creating a new surge of interest in real estate by investors. These investors are looking for deals and these deals are affecting the sale price of homes on the market. I do not believe the market will get back to normal until these investors start selling off their real estate portfolio or there become fewer foreclosures.

If you are interested in learning more about Short sales, foreclosures, bank owned properties or just interested in finding out more information on real estate matters please feel free to contact me personally .