Chicago Condo Sales are HOT!

Chicago Condo Sales are HOT!

All of Chicago real estate is crazy right now – buyers are out there in droves…

This weekend, I had buyers who put in an offer on a property they liked – they were 1 of 5 offers! No, they didn’t get it – someone overpaid. Let’s hope they have a large down payment, because the property likely won’t appraise out.

Condo Sales – Median Sales Prices

Here are median sales prices in my Primary Market Area (see map of it below)…

 

Inventory

There is only a 2.9 month supply of homes. Remember, a 6 month supply is a BALANCED market – neither a buyers’ nor sellers’ market.  This is definitely a sellers’ market!

# Condo Sales – Homes Sold

The number of homes sold is at a 10 year high!

Market Time (Days) for Condos

And, as you would guess, the market time is LOW LOW LOW – 27 days on average.

Sales Price

% Sales Price of (Last) List Price

Yes – properties are selling for almost list price! Here, we’re looking at properties between $250,000 and $550,000…

They’re selling for 98.9% of list price — and that’s a median number — many are selling OVER list price!

What does all this mean for you?

For Condo Home Sellers –

If you are on the market, but you don’t have an offer, something is very wrong. Call me and let’s move forward!

If you are thinking of going on the market, you need someone who can navigate through this market- getting you

  • the highest price possible,
  • with no appraisal/loan problems,
  • with a buyer that doesn’t get cold feet!

There are definitely tactics to do this – give me a call and I’ll explain how we can accomplish this!

If you own a condo, now may be the time to cash in – explore your options…  call me today!

For Condo Home Buyers –

You MUST work with someone who can guide you –

  • Don’t overpay just because the market is busy!
  • Be the first in a newly listed property!
  • Work with someone in the Top Agent Network, who uses the MRED Private Listing Service, and networks with colleagues to find new properties before others!
  • Learn how to write winning offers and negotiate to your best advantage!

 

One of the many services I offer is the Home Search Alert-

You’ll get an email within 15 minutes of a new listing hitting the MLS.

Be the first to know what’s available…  let me set that up for you today!

Contact Anne Today!

Call Anne’s cell 773-620-5333

Or…

Email Now...

Best Chicago Vintage / Historic Homes for Sale

Here are my picks for the best vintage, or historic, homes for sale on Chicago’s north side.

This is a biased portfolio – I was looking for homes that still had many vintage details intact. Some were discounted because, while they may appear to be vintage, they had so many historic details ripped out in the renovation that they don’t delight me.

If any of these are appealing, please reach out and we can make appointments to see them in person.

Search for Chicago historic homes here:  Search Historic Homes

800 w buena

800 W Buena Ave.

$2,379,000

Doerr & Doerr 1917 mansion on 7 city lots – plus a 2 story coach house! Incredible original details, including paneled Dining Room, library with original bookcases and cabinets, and immense staircase with stained glass windows.

5352 N Lakewood Ave

$1,050,000

Lakewood Balmoral Historic District- this is a terrific value for this popular neighborhood! Lovingly restored 1894 Queen Anne wiih 4 BRs, 3.1 baths.

805 W Junior Terrace - Buena Park Historic District

805 W Junior Terrace

$1,890,000

Stately 1905 Prairie style mansion in Buena Park Historic District. Brick with tile roof and apartment over 2 car garage- it’s a lovely opportunity!

 

5943 N Hermitage- Andersonville

5943 N Hermitage

$575,000

Rarely available Andersonville 3 BR, 2 BTH brick bungalow on a huge 33 ft by 168 ft lot! This terrific home is located on a quiet one-way street.

734 W Hutchinson - Buena Park Historic District

734 W Hutchinson

$1,549,000

Located in the Buena Park Historic District, this unique and lovely 1910 stucco home is wide and bright. Four bedrooms and 3.2 baths plus library.

 

4605 n hermitage- abbott house- east ravenswood historic district

4605 N Hermitage

$2,490,000

Grand 1891 Queen Anne was once the home of Abbott Labs Founder. The East Ravenswood mansion sits on a 92; x 165′ lot and includes a renovated coach house.

1826 w leland - ravenswood

1826 W Leland

$849,900

Ravenswood 1896 home with three bedrooms, 2.1 baths, and loads of gracious woodwork! Loads of character and a lovely home near the Metra to downtown.

4929 Fairfield

4929 N Fairfield

$575,000

Enormous bungalow on oversized lot with tremendous potential! Four bedrooms and 3 baths on quiet one-way street in Lincoln Square.

4651 paulina-east ravenswood historic district

4652 N Paulina

$1,234,000

East Ravenswood beauty – check out the amazing columns and full-width porch! Six bedroom home on 50′ x 165′ lushly landscaped lot.

1521 W Glenlake

1521 W Glenlake

$775,000

Edgewater 5 bedroom 2.1 bath home on quiet one-way street. Renovated vintage features include stained glass, hardwood floors, and original woodwork.

If you’re looking for a real estate agent who appreciates historic homes and is an expert in selling them, reach out to me today!

Contact Anne...

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Chicago Spring Real Estate Market is HOT HOT HOT!

Typically, the Chicago Real Estate spring market kicks off on Super Bowl Sunday.

This year, however, buyers have been out in droves since mid-January.

Today, the activity is off the charts!

real estate 606**

The Real Estate 606** Top Producer group, of which Anne is a member, has been strategizing about ways our buyers and sellers can take advantage of this situation. “How to take advantage of Chicago’s Hot Real Estate Market” will be the topic of the next post.

 

Let’s look at just how busy the market is:

A “healthy” market is defined by lenders as a 6 month inventory of homes available for sale.

anne rossley real estate

Right now, in Anne’s primary market area,

there is only a 3.1 month inventory –

the LOWEST IN RECENT HISTORY!

 

RISMedia just published the Realtor.com HOTNESS index –

the number of days on the market for real estate properties.

hot real estate market

How HOT is Chicago’s Market?

How many days does it take to sell?

This chart shows the # of days between the date the property was listed and the date a contract was agreed upon. The median number of days between list date and contract is

17!

 

 

What is this HOT real estate market doing to Chicago Sales Prices?

Sales prices are increasing rapidly!

  • We’re seeing multiple offers that exceed listing prices.
  • Sometimes, properties are selling without even being listed – either via agent to agent word of mouth, or via systems like MRED’s private listing service or Top Agent Network (TAN), of which I’m a member.

 

Buyers are having difficulty finding and acquiring property…

  • Inventory is so low – there are not as many choices as in a typical Chicago real estate market
  • Buyers have to act quickly in a fast paced real estate market – this can be frustrating
  • Buyers who aren’t working closely with a real estate agent just won’t be able to find the same options as those who rely solely on online listing sites (often out of date and incomplete)

What does this mean to you?

More than ever, it’s critical that buyers and sellers work closely with a real estate agent who has the experience and expertise to guide them.

For Sellers, your expert real estate agent will know how to:

  • Set the right listing price  – not underpricing your home and thereby “leave money on the table” ,
  • Price your home not so high that appraisers can’t support the price and the buyers fail to get the loan,
  • Use a “Hot Real Estate Market Action Plan” that creates excitement, brings all buyers in quickly, and yields a quick, high priced offer
  • Recognize buyers’ remorse, buyer pre-approvals you can count on, and buyers tying up properties while they “make up their minds”

For Buyers, your expert real estate agent will know how to:

  • Educate you so when the opportunity presents itself, you are comfortable enough to act,
  • Find the best property – via TAN, Private Listing Network, the MLS, or word of mouth,
  • Make your offer stand out from the pack,
  • Ensure you don’t overpay and knows how the appraiser will evaluate the home’s value, and
  • Will provide energy, persistence, and determination to help you achieve your goals.

 

Easier_SocialMediaJPG_Cube

 

Do you want to buy or sell but aren’t sure where to start?

Contact Anne and let her guide you!

 

For questions about how to win in this HOT REAL ESTATE MARKET...

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Best Chicago Apps

QUESTION (from recent transferee)…

What are the best mobile apps for living in Chicago?

ANNE ANSWERS…

The following apps are those I find to be

the most popular …

 

anne rossley mobile app
Real Estate GPS-Based Search App Anne Rossley’s Real Estate Mobile Search App
 choose chicago app
Choose Chicago Chicago Official Visitors Guide ChooseChicago.com
 chicago works app
Chicago Works – 311 Make service requests to 311 and track issues as they are addressed.
 my chiparks
My Chi Parks Event Calendar for Chicago Parks Chicago Park District
 spothero
SpotHero  SpotHero – find and reserve parking via phone
 parkchicago
ParkChicago Pay your parking meter via phone app
 transitapp
Transit App Find all transportation near you How to Use Transit App by CNet
 transittracker
Transit Tracker iOS Version
 cyclefinder
CycleFinder The people who brought Divvy bikes to Chicago iOS Version
Android 
 chivvy
Chivvy Chicago Divvy Map iOS Version
 ventra
Ventra Oversee your Ventra account, add transit value or passes on your Ventra card, and buy and use Metra mobile tickets Android and iOS – doesn’t replace having a REAL card to swipe!
 312go audio tour
312GO As you move around Chicago, 312Go tracks your location and our private guides talk to you, sharing quick stories and interesting facts about the places you pass iOS Version
 foodlander
Foodlander Find the nearest farmer’s market
 grubhub
GrubHub Order food online
 opentable
OpenTable Make a dinner reservation – check out prices and reviews
 sweeparound
Sweeparound.us
 dnainfo radio
DnaInfo Radio
 chipublib
Chicago Public Library
 everyblock
Everyblock iOS Version
 dnainfo chicago
DNAInfo
 curbed chicago app
CurbedChicago

What am I missing?

We want to stay on top of all Chicago apps that work for our clients-

Please let us know what apps you use that we should add to this page!

Submit apps that should be included on this page
Best Bungalows For Sale in Chicago

Best Bungalows For Sale in Chicago

Looking for the Best Bungalow in Chicago?

Here’s the list for Fall, 2016…

I couldn’t keep the list to a “Top 10” – there were 12 that caught my eye- for various reasons…

  • Some are cheap
  • Some are rehabbed
  • Some have great curb appeal
  • One is an amazing historic treasure
  • One’s in the Bell District

They are in various neighborhoods at various price points…  check them out!

5746 Virginia

5746 N Virginia

 

MLS # List Price# RmsBRBASFYr BltLot DimAreaGrade SchoolMT
93646266518Washtenaw$249,9006323200192233X125West RidgeMarquette10
92178974929Kildare$349,9009532400191830X125Albany ParkPalmer 444
93683623018Addison$359,0001142Unk192530X112Irving ParkCleveland 4
93603276548Campbell$388,000843.12700191830X125West RidgeBoone 15
93634594910Kenneth$399,900832Unk192730X132Albany ParkPalmer 87
91409652709Lunt$429,9001052.11929192337X124West RidgeBoone248
93082076117Maplewood$479,000942.13600192133 X 125West RidgeMorrill77
93055362450Byron$529,0006421146192131 X 123North CenterBell79
92782995746Virginia$549,000942.12439192335X119West RidgeJamieson138
93127362601Lunt$550,00010533590192656 X 124West RidgeBoone 71
91346482246Greenleaf$709,90010435000192640 X 155West RidgeArmstrong324
93057502802Wilson$900,00011433400191945 X 120Irving ParkWaters 79

chicago bungalow

4910 N Kenneth

Click this link

to see the 12 properties –

with photos of the interiors

Here are the Best Bungalows on a Chicago Map:

Want to learn more about Chicago Bungalows? Looking to find one of your own?

11 + 9 =

Thinking of Selling? Find Out What your Bungalow is Worth...

Contact Anne Today

EasierDoesIt – Thanks, Baird & Warner for making things easier!

EasierDoesIt – Thanks, Baird & Warner for making things easier!

EasierDoesIt !

What are your favorite “Life Hacks” –

those tricks that make day to day living easier?

Share them on social media, and win tickets to see Hamilton in Chicago!

Baird & Warner is making it easy – just post on social media with the hashtag #EasierDoesIt –

          – the “hack with the most views and votes will win

FREE TICKETS!

Want to learn more?

http://BWEasierDoesIt.com

Want to post but you can’t think of anything?

Check out Anne’s Pinterest Page for Ideas…

 Follow Anne on Pinterest

Favorite Tips for Living

Tips and Tricks for the Home

 Want another tip for your real estate search?

Download Anne’s Mobile Search App 

and get info on properties based on your location!

mobile real estate search app

#EasierDoesIt! 

Baird & Warner makes it easy for buyers and sellers…

What makes life easier for you?

We want to hear!

North Center is Hot! Hot! Hot!

North Center is Hot! Hot! Hot!

Chicago’s North Center neighborhood

has been a terrific investment over the last 5 years!

 

During the last 5 years, families have moved into North Center to take advantage of great CPS neighborhood schools:

alexander bell elementary schoolAlexander Bell  (website)

coonley elementaryAvery Coonley (website)

audubon elementaryAudubon (website)

Statistics about home sales

in North Center:

    • # of Home Sales (2015) are up 62% since 2010
    • Median Sales Prices (2015) are up 39% since 2010
    • In June, July and August, 2016 alone, 246 homes closed vs 227 in 2015!!!
    • Their average price was $1,201,975 in J/J/A 2016
    • The average % sold to list price was 98.8% in J/J/A 2016

Click on the Graph Below to see prices throughout the last 5 years…

Thinking about buying in one of these school districts?

Check out homes in each of the elementary school districts…

Click on the photo or link below to find homes for sale in Bell, Audubon, and Coonley Elementary School Districts

Homes for sale in Bell District

Homes for Sale in the Bell School District

Homes for sale in Audubon District

Homes for Sale in the Audubon School District

Homes for Sale in Coonley District

Homes for sale in the Coonley District

Thinking of Selling your North Center Home?

 

Here are some options for learning about your North Center home’s value…
Resources for CPS Families – PIN by 11/28, application by 12/9/16:
If you would like to be put in contact with a parent from a particular school,
I would be happy to make an introduction- 
email me today!

Contact Anne today to learn more about North Center Homes for Sale!

Email her today!
Historic Baird Family Home Sells in Evanston

Historic Baird Family Home Sells in Evanston

Known for not only being rich in Evanston history, vintage details and architectural significance, this was the home to the Baird family for generations. John Baird had to move his family to make room for Steve Baird, his third child. It’s truly the classic story of a move up transaction. They went farther out in the burbs to what was then a new construction.

The award-winning, Queen Anne “Painted Lady” Victorian home located in Evanston recently was sold. Arla Unwin, of the Evanston office, was excited to be the selling broker on this home with such history for the Baird family.

The unique, 1897 landmark features a grand foyer, formal living and dining rooms, library, 3 bedrooms plus huge 3rd floor master suite potential with sun room and office and 2.5 updated baths. For a period of time, the home was known as the “Darth Vader House” because it was painted black. It’s in between two multi-family buildings that both had coal boilers, so the owners couldn’t keep it clean.

This is actually the second time that Arla sold it. The first time was ten-ish years ago. She was also at Baird & Warner then. It’s nice to see the loyalty and kudos for keeping in touch with her client that long.

Check out the home below:            

Contact Anne

11 + 10 =

Choosing An Elder Law Attorney – Chicago Real Estate

seniors making moves

Elder law is a fairly new legal field. It differs from most other areas of practice, which are typically based on a type of law (civil vs. criminal cases, for example) instead of a particular type of client (usually elderly, but also younger people with special needs). Elder law attorneys work with a number of legal areas, including:

  • Guardianships
  • Long-term care planning
  • Government benefit programs (Medicare/ Medicaid/Veteran’s benefits)
  • Advance health care directives • Powers of attorney
  • Competency and mental health Issues
  • Estate planning
  • Elder abuse (physical, emotional and financial)
  • Asset protection
  • Tax law
  • Age discrimination
  • Disability
  • Retirement and/or pensions
  • Trust planning (including special needs trusts)
  • Contract law (for example, reviewing a continuing care retirement community’s contract)

If you think you need more information on Elder Law Attorneys, you may want to consider the following websites:

Senior Real Estate

For your FREE ADVICE on

“The 10 Questions you Should Ask an Elder Law Attorney”,

Select this link:

10 Questions to Ask An Elder Law Attorney

Do You or Your Parent Need a

Senior Real Estate Specialist?

Contact your SRES, Anne Rossley, TODAY!

 

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Chicago Home Sales Slowing?

 

Are we entering a real estate slump for single family homes in Chicago?

Are Chicago Home Sales Slowing,

and

are we seeing the return of a buyers’ market?

5438 Lakewood

In the prime single family home neighborhoods of:

anne's market area a

 

 

 

 

 

 

The last 3 months have seen the following activity on homes between $1,200,000 and $ 2,500,000

Active

118

New

18

Price Change

1

Total Active

137

Contingent

37

Pending

46

Total Under Contract

83

 Total Closed

48

 

The average number of properties closed/per month is 48/3, or 16.

That means the current ACTIVE inventory on the market (137)

is 8.6 months’ worth –

an OVER SUPPLY!

 

Looking at it further, we see the following breakdown by neighborhood over the last 3 months:

 

Lincoln Square North Center Lake View Lincoln Park
Active 16 47 40 36
Pending 8 19 18 21
Closed 2 21 16 9

 

 

In my total market area (south loop to Edgewater),the inventory of single family homes is rising.

Number of New Listings for Sale

New Listing 3 years

Meantime, the number of closings is declining.

Number of New Closings

H

 Below is the chart for single family inventory in the total market area. The figures supplied by MRED include 12 month sales figures. The trend looks less alarming because we’re just in the beginning of the slow down, and the 12 month sales figure used to calculate inventory is a broader perspective than the 3 month number used above.

Inventory of Single Family Homes

Based on Last 12 months rolling calculations

INVENTORY

So what does this mean for you?

If you’re a single family homeowner that needs to sell,

then you may want to consider pricing your home more aggressively

If you’re a single family home buyer,

it’s a perfect time to get in the market- rates are low and it’s become a buyers’ market for single family homes in Chicago!

If you’re on the sidelines… think about your long term goals…

  • waiting to sell may NOT be a good move if you expect interest rates to rise (as do most consumers), prices to stagnate. There may be fewer buyers in the market when you finally go on the market.
  • If you’re planning on downsizing, and you think the economy is not going to significantly improve after the election, then now may be a good time to be realistic and put your home on the market.
  • Make sure your interest rate is locked in for a year or two MORE than you plan on staying in the home. Should you consider refinancing?

For a quick look at what your home’s worth, select this link:

Home Valuation – Emailed Directly to your Inbox

To find out more precisely what you can expect if you were to sell,

Contact Anne Rossley today!

773-620-5333

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