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Winnetka, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Some Kenilworth residents had hoped to register the entire town as a National Register of Historic Places district.  That referendum, as well as two in Winnetka, were defeated in the November elections (see my previous posts: Kenilworth & Winnetka Consider Preservation  and Kenilworth Rejects Preservation Referendum     In Kenilworth, residents rejected the proposal by a landslide of 950 to 553 and achieved this dramatic result with a grassroots appeal to residents worried about property rights, sliding home sale prices and the tax implications of historic homes.  You could hardly get through the grocery aisles without encountering someone passionate about the subject.  For the preservations, Kenilworth is unique in its large stock of Prairie and Arts and Crafts homes designed by well-...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
A lease option basically means that you are renting a property with the option to buy it at a later date.  Back in the late 70s and early 80s the lease-option was a fairly popular financing instrument.  When the housing market is slow, it's something that can benefit and buyer and seller.  Now that we are in a downturn, this option might become popular again. Lease-options are state-specific so always check with your real estate attorney first.  There are actually several different types of options:  1) Lease Option or 2) Lease Purchase.  These instruments vary in the specifics and many points are completely negotiable, but the basics are as follows: The buyer pays the seller an agreed upon amount (option) to purchase the property at a later date. In a lease option, the buyer is not obl...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
While scrolling around the net I came across the most interesting article about houses made of dirt.  Take a look and see that I'm not talking about your average mud hut! This type of construction is know as "cob" and has been around since the 11th century.  It has recently seen a surge in popularity and considering costs for lumber and other construction materials, I can see why.  To read more about these interesting homes, please visit:  http://www.environmentalgraffiti.com/featured/buildings-dirt-and-straw/3739 and read the article by Kelly Taylor.     
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Older homes, which are abundant in the North Shore, constantly need upkeep and ongoing maintenance.  If  your home is older than 10 years, you may need to invest in some weatherproofing maintenance.  Finally going "green" is a popular thing - not just something to be joked about.  And it's also popular right now to be more frugal, which is itself a form of environmentalism.  So with those two things in mind, I offer some suggestions for warming up the house and saving some money: Maintain your HVAC System - To keep it running at peak efficiency, it should be serviced at least once a year by a qualified technician.  And open your curtains on south facing windows of your home to let the sun warm naturally. Install a programmable thermostat - How often have you heard this?  As a realtor, I...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Plastic everywhere - dangling from trees, cartwheeling across streets, stuck in bushes, smushed into the ground and strung like so many holiday lights along freeway fences.  And that's just what we can see - but all of it goes somewhere and that place is our planet's oceans.  The majority of the plastic is thrown into streets, eventually goes down storm drains, will go down into a river and finally flow out into the ocean. Would it surprise you to know that there is an island of toxic plastic garbage larger than the size of Texas floating in the northern Pacific between California and Hawaii? Here are some more fun facts (from the Blue Ocean Society for Marine Conservation):     Only about 2% of U.S. plastic is recycled Approximately 100,000 sea mammals and turtles die every year ingest...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
That's a question that everyone is tossing around - trying to hold out buying until we "hit bottom" or not selling until the market turns around and price start to rise again.  Who's kidding who?     Nobody can predict when the bottoming out will occur - we may be fairly close as some estimates say or it could be years out.  But this is what I know:  home values will probably not return to pre-2005 levels for a very long time.  The rise was just too steep, too quick and too mismanaged to happen again soon.   For one thing, lending practices have adjusted to the new world order and loans just aren't that easy to get.  We have a large inventory that will take more than a year to absorb and new homes keep coming on the market.  And buyers are, well, acting like kids in a candy shop.  How l...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
There is no denying that statistics are cold, hard facts.  Usually, they can be interpreted only one way since numbers don't lie (at least that's what my long-suffering algebra teachers told me.)  So I pull numbers every few months to get a reality check on the market - is what I am seeing and thinking really happening?  How hard has housing been hit on the North Shore?  Well, not as hard as other parts of the country and that is a fact, but we're definitely feeling the pinch.  In a quick check of the Pioneer Press Winnetka Talk (November 6, 2008 issue) there were 5 1/2 pages of judicial sale notices with the following foreclosure breakdown:  Evanston (23), Glenview (6), Northbrook (10), Wilmette (4) and Winnetka (1).  In past years there were maybe 1-2 foreclosures in Evanston and Glen...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
November 4, 2008 was a historic day for our country. . . . but many things were decided at the local levels as well.  In both Kenilworth and Winnetka, the property rights of owners trumped the preservationists attempts at getting more control over building and zoning laws.   My earlier post at(http://activerain.com/blogsview/767471/Kenilworth-Winnetka-Consider-Historic-Preservation-Referendum-on-Nov-4) describes the details of all three measures. The Kenilworth referendum was defeated  with 928 voting against and 531 voting yes.  In Winnetka, Referendum #1 was defeated 3734 to 2366, and Referendum #2 was defeated 4903 to 1342.   I'll say it again - as a realtor I'm really torn on this issue.  I have seen enough "historic" homes to know that it usually means "outdated."  Ten years ago bu...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Ironically, next week's election has two neighboring towns, Winnetka and Kenilworth, IL, with referendums on historic homes - another attempt at dealing with the teardown/McMansion issue.  Preservationists have decried for years that their villages are changing irrevocably for the worse while others champion for property rights and the freedom and ability to sell to whomever they please. Kenilworth is undeniably a unique town - envisioned and built over 100 years ago by Joseph Sears whose specifications included large lots with quality construction.  The completed look was one of stately homes that were large but left plenty of open green space around them and between neighbors.  Many were built by noted architects such as Daniel and Franklin Burnham and George Mayer while much landsca...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Sometimes you just wanna have a little fun.  As I go through listings on the multiple listing service  I  get a good laugh occasionally (at someone else's expensive, unfortunatley) and thought I would share some choice pictures.  These homes are located in the North Shore communities of Winnetka, Wilmette, Evanston and Glenview.    Are we showcasing the wallpaper?    Flash works very well here.      Whoa - don't get vertigo!    At least this kitchen has a window . . .    No idea what the point is here.    Nice corner with strange black box.    Doors for sale.    Ever heard of . . . staging . . .clutter removal . . .?    Light and bright rooms.    Let's party!    Say cheese!    Looks like grandma's dress is hanging on the window.   And here's my lazy dog Marly.  Clearly, some realtors ha...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
Real estate news has been somewhat dismal for the past few months with homes sales trending downward and a resulting glut of homes for sale.  As a realtor, I've wondered where have all the buyers gone?  Lots to choose from and falling prices makes for an easy decision. Well, maybe some of those buyers have finally stepped forward.  The news I read this morning, from the Mizuho Securities US economist is definitely interesting.  Here goes: "Sales of existing single-family homes rose 5.5% in September as transactions    surged in the West. Sales in the West rose by an unexpected 16.8% providing a   solid upward base to the headline series. The West cost is the second largest   home resale market in the country. Sales gains, however, were not only evident  in the West. Activity in the Sout...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
In the good old days, (well, not so old, really) we wrote offers for properties without mortgage contingenices and then planned to close within several weeks.  But since the beginning of the mortgage crisis last August you won't get a quick close with mortgage financing.  The process takes time, as it should.  Lenders have been lax with lending practices and now we will be seeing real vetting going on with potential buyers.  Unlike recent memory, buyers now have to actually qualify for their mortgage, and this approval process takes time.  Here are some things that I have been telling my clients to think about before they make an offer: You will need good credit.  You will need verification of employment, down payment, closing costs and reserve funds. If your money has not been in  your...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
  All eyes are on Capitol Hill now - will they or won't they come to the rescue of distressed financial institutions with a $700 billion bailout?  Are we on the verge of economic collapse without it?  What will happen if they do nothing?  How will it affect the economy in general, and real estate in particular? Well, I don't have any of those answers and if you've been listening to the news, you know that neither do the politicians and economists.  On one hand, we have Paulson and Bernanke saying that we will have the "systematic collapse of the economy" without the recovery package.  Yet this morning watching the news, I saw Senator Shelby (a sworn foe of the bailout) waving his hand while holding several rolled pieces of paper, claiming they contained warnings from the country's most ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(@Properties)
People living in Winnetka know that their village is beautiful - with its tree-lined streets, clean beaches, numerous parks and shopping areas.  But, unfortunately, everything gets older and to keep looking our best some changes are in order.  The Streetscape Master Planis an idea to unify and enhance Winnetka's three commercial districts and has been in design for over a year. Included are such things as realigning curbs, additional parking spaces, and adding new lighting, signage, sidewalk pavers, benches and landscaping.   The three commercial districts are known as Hubbard Woods, East/West Elm, and Indian Hill.  More intensive changes will be constructed in these main areas with lesser designs along some of the streets bordering the commercial districts.   Phase 1 consisted of the i...
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Since the start of Active Rain I know I have been a bit of a yapper. But lately I have been very quiet... but for good reason. WE HAVE BEEN BUSY! I thought you all might like to see some of what our crew here at Real Estaging has been working on that has kept us ALL so busy.Below is a FOLLOW UP staging project for a "boutique" builder I first blogged about in my UPSTAGING blog last summer. The first house we staged for the builder had been on the market for nearly 10 months when we staged it. But once stage it FINALLY sold about 45 days later. So thist time, instead of waiting to see if the HOUSE would sell, the builder had us come and stage it the INSTANT it was ready.Anyway, the builder is METICULOULS and the result of his renovation is a stunning $1,850,000 home... this time in Winne...
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Realtors need to know that just because a person or business call themelves "stagers" does not mean that they can actually do a professional job. EVEN if they are "Accrediated".  Here is an actual job we recently re-staged. The builder has paid an unbelievable $9,000 in fees to this furniture rental company! This type of "staging" is what I call... "plop and drop".  This "accredited" company gave NO thought or effort as to HOW the few pieces of furniture they supplied should be placed in the home. To make the home look waaaay more appealing. We came in and reset the space using the rental companies own furniture and then added an addtional 128 props from our own Prop Library... including a few additonal pieces of furniture.My point is... if you are going to use a stager, get a GOOD stag...
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