The holidays is a time to be with family and friends and time to think about all things we are grateful for during the year.
I want to wish you all a Happy and Healthy New Year!!
Here are some sites I found enjoyable for Hannukah, Christmas, and Kwanzaa. Also if you are in town over the holidays do not forget to go to Evanston First Night on New Years Eve
There has been a lot of press about the Real Estate Market in 2006? Well, if you are a little bit curious about how the real estate market did in Evanston then I will give you that information but first I want to say that the information provided here comes from the Multiple Listing Service and that I make no representation to the accuracy of that information provided by MLSNI.
With that being said, the following report is based on sales of single family homes and condo sales over the last 12 months beginning January 1, 2006 thru December 15, 2006* Information provided here will include the number of homes sold, the average price of homes sold, the average market time of homes sold . I will then give the same information for condos over the same period of time and give the total sales volume for each category and year. I will discuss how the Evanston Real Estate Market in 2006 compared with the Real Estate Market in 2005 and end my discussion with a look forward to the year 2007.
EVANSTON SINGLE FAMILY HOME SALES IN 2006:
As of todays date, 437 Single Family Homes have sold in Evanston, IL. The average selling price over the past 12 months is $622,083 with the highest price home selling at $3,400,000 and the minimum selling price at $140,000. The average marketing time from list to close has been 71 days. Total Sales Volume in 2006: $271,850,144
EVANSTON CONDO SALES IN 2006:
As of todays date, 765 Condos have sold in Evanston, IL. The average selling price over the past 12 months is $307,884 with the highest price selling at $1,125,000 and the minimum selling price at $87,000. The average marketing time from list to close has been 119 days. Total Sales Volume in 2006: $235,531,056
NOW THE COMPARISON…….
EVANSTON SINGLE FAMILY SALES IN 2005:
In 2005, 521 Single family homes sold in Evanston, IL. The average sale price in 2005 was $595,831 with the highest price selling at $2,775,000 and the minimum selling price at $141,895. The average marketing time from list to close was 73 days. Total Sales Volume in 2005: $310,427,808
EVANSTON CONDO SALES IN 2005:
In 2005, 842 Condosos sold in Evanston, IL. The average sale price in 2005 was $286,062 with the highest price selling at $1,300,000 and the minimum selling price at $83,000. The average marketing time from list to close was 109 days. Total Sales Volume in 2005: $240,864,304.
CONCLUSIONS:
Whereas the Sales Volume for both Single Family and Condo Sales are slightly off in 2006 compared to 2005 Sales the Real Estate Market in Evanston is best described as “Stable and Healthy Market”. The average sale price of a home has appreciated around 4% per year 2005-2006 and the average sale price of a condo has appreciated at around 8% per year from 2005 and 2006. Alot of press has indicated that it is taking alot longer to sell. While this does not appear to be true with Single Family Homes in Evanston it does hold true for Condos. As a realtor in Evanston, I am optomistic about the 2007 Real Estate Market.
Every year Realtor Magazine publishes a article on Home Improvement costs which I am glad to share with you.
Before I start, I should say the information provided here is from Remodeling Magazine through an agreement with Realtor Magazine. I make no representations to the accuracy of this information as it relates to Evanston, Illinois. It should be used only as a guide to general home remodeling costs.
According to Realtor magazine, ” The Price for most remodeling projects continue to climb, while the recoup value of improvements at resale is declining to levels last seen in 2002″. The logical question is what improvements should I do and which ones should I not do? It is the opinion of this writer to do those improvements that will improve the quality of your life in your home if you intend to stay there for a long time. If you are planning to sell your home within the next year and are looking for the best return on your investment then you should be more cost conscious.
Following are the job costs, resale values and return on investment in terms of a percentages for different remodeling jobs.
MINOR KITCHEN REMODELING
Minor Kitchen Remodel which includes updating a 200 sf kitchen, using existing cabinets but adding more cabinets. Replacing oven and cooktop with new model, replace laminate counter tops, install new flooring. Cost: $19,636 Resale: $18,342 Return: 93.4%
MINOR BATHROOM REMODELING
Updating an existing bathroom 5 X 7 bathroom with new tub and shower with 4-inch tiles, new vanity with recessed medicine cabinet, and new standard white toilet. Cost: $15,320 Resale: $13,441 Return: 87.7%
BASEMENT REMODEL
Create a 20 X 30 finished basement with wet bar and full bath 5 X 8. All walls are fully finished and insulated, new ceiling with recessed lights and new flooring. Cost:$68,844 Resale:$55,221 Return: 80.2%
MIDRANGE ROOM ADDITIONS
COST RESALE RETURN
New Bathroom: $30,586 $20,284 66.3%
Deck: $15,081 $9,541 63.6%
Master Suite: $84,883 $67,723 79.8%
Attic Bedroom: $48,867 $32,688 69.7%
Two Story: $109,987 $78,424 71.3%
MIDRANGE REPLACEMENTS
Roofing: $15,979 $9.624 60.2%
Vinyl Siding: $9,351 $7,593 81.2%
Vinyl Windows: $10,753 $8,751 81.4%
After winter storms, ice dams can form along overhangs, back up under shingles, and seep into the house causing damage to ceilings, walls, kitchen cabinets and wood floors. So, what causes ice dams and how can you prevent it from happening in the first place.
What Causes Ice Dams
There are two main causes of ice dams.
1. The first cause is a series of warm and cold days after a snow storm and the snow on your roof begins to melt and freezes at night. This action is similiar to how icicles are formed.
2. The other cause is a warm roof when a home has inadequate insulation and melted snow trickles down the shingles and keeps moving over the warm roof surface until it meets the overhang. The overhang has no living space or heat so the water freezes at this overhang and lifts the shingles under the gutters of the house causing the ice dams.
Four Solutions to Ice Dams
Roof experts have sited four solutions to help solve the Ice dam problem.
1. Add more insulation to prevent the roof surface from warming. Also increase the amount of attic ventilation will help bring cold air into the attic.
2.Add Metal Edging or strips of sheet metal over shingles. This metal edging helps ice and snow slide off the roof.
3.Install heat cables in your gutters. These heat cables will melt the ice in your gutters but make sure the cables being used are UL-approved because they may become a fire hazard.
4. The ultimate defense against roof leaks is to install a rubber membrane under the shingles. This will prevent roof leaks but will not prevent against ice dams.
