Evanston IL Real Estate

I am happy to announce my new website address to serve you better.

I am all about providing the public with FREE INFORMATION about the Real Estate Market in Evanston, Chicago, and the North Shore. As you visit the site I think you will find it very easy to use. Just scroll down to the picture tabs on the home page to search for listings, school information, featured listings, mortgage information, buyer and seller tips, and a way to contact me personally. If you want to find out how much your home is worth before contacting an agent just go to the Select Page and scroll down to Recent Home Sales. I hope you enjoy the new website and tell others to visit.

Michael J. Johnson is a local artist from Evanston, Il who deserves attention. I am allowing Michael the opportunity to describe who he is on my blog because I find his work absolutely beautiful:

” I am an artist. I paint animals, nature and portraits. Art is my job. When I was four years old the doctor told my family that I have Down syndrome. It’s no big deal! Sometimes I have to work harder but I get the job done. You can see more of my work on the Internet. Just search for Michael Jurogue Johnson.”

That is what I did and here is some of the work you will find by Michael.

Victorian House Portrait

Sunflowers

Summer Vacation

Golden Tunnel

These pictures and many more of Michael’s art can be seen at Michaels own website.

You can also learn more about Michael on youtube.

A recent article in the business section of the Chicago Tribune was devoted to how bank reserves are being affected by non-performing loans. In a normal market, it is expected that a percentage of loans the bank makes will be non-performing and when they do go bad the bank did not worry because the collateral behind the debt was adequate to support the risk of loss. However, now more and more people are defaulting on their mortgage and are walking away from their homes because the home is worth less today that what is owed. Banks therefore have no other recourse but to build up their reserves, seize the collateral, and then liquidate the collateral, and eventually partially charge off, or remove the debt from the balance sheet because they have been deemed uncollectable. This is why we as realtors do short sales and hope the bank realizes the time value of money and takes the money today rather than delay the process and loose more money in a foreclosue.

The first six months of 2008 are now history and the statistics indicate a Stable Market.

According to the MLS,  the Evanston Real Estate market is stable. During the first six (6) months of 2008 there were 173 sales (included are homes under contract and pending). Compare this figure to 178 homes sold in 2007 during the same period Evanston is quite stable. Infact, the average market time has inched up slightly from 131 days in 2007 to 147 days in 2008. The average sale price of a home in Evanston is also the same $632,956 in 2008 compared to $631,144 in 2007.