Winnetka, IL Real Estate News

By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 Professionals in many occupations have a tendency to throw around explicit industry terms that leave consumers bewildered. While many people have heard of real estate related words, few really understand what they fully mean. When you're anywhere in the process of buying or selling real estate, understanding their definition and their context in your deal is vital. Don't be afraid to ask your real estate agent what something means and how it affects you. Here are the most common real estate words and their definitions. Please note that I sell real estate in Chicago's North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, Evanston, Northbrook, and Highland Park. These specific terms might be understood differently throughout the country. Re...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
There were 15 closed home sales in Winnetka in January, 2018.  These homes most likely went under contract during what is considered the slowest time of the market yet some of them are very strong. There were two homes over $2 million, and 4 homes over $3 million including a $10 million sale for a home on the lake that is slated to be demolished.    Snapshot of current Winneka market: Homes for sale:  115 (priced between $499,000 to $9,999,999) Under contract: 34 (priced between $499,000 to $13,750,000) Current absorption rate: 5 1/2 months (balanced market slightly tilting toward a buyer's market) Condos for sale:  7  (priced from $125,000 to $545,000) To CONTACT Margaret Goss, please call 847-977-6024 or email:  margaret.goss@bairdwarner.comMargaret Goss is a full-time real estate ag...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 Lots of activity starting out quickly in 2018 - six new homes listed in January, 2018 in Hubbard Woods (I have not included previously listed homes that were removed from the market for the holidays.) 1216 Scott Ave. $1,080,000 4 bedrooms, 2 1/2 baths      1509 Scott Ave. $1,174,900 (?) 5 bedrooms, 4 1/2 baths     144 Old Green Bay Rd. $1,450,000 6 bedrooms, 3 1/2 baths      1167 Asbury Ave. $1,475,000 4 bedroos, 4 1/2 baths, built in 2003      1305 Forest Glen Drive South $1,848,000 4 bedrooms, 4 1/2 baths      830 Glen Oak Dr. $3,150,000 (large property with 1 acre, dated home) 4 bedrooms, 5 full baths, 2 half baths         Closed sales in January in Hubbard Woods 820 Heather Ln. List price:  $1,300,000 Sold price:  $950,000 Days on market:  32      1502 Edgewood Ln. List price:  $1,...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 UPDATED 2020While we have ample supply of single family homes, there has been a long-time shortage of condos and townhouses that has plagued the North Shore  (with the exception of Glenview and Evanston.)  Even Wilmette, the one village that has a good number of condo developments, is running low. The only planned new condo development in the area was the long-awaited Winnetka One (drawing renditon on right) which was recently canceled in its entirety.  Several other developments, notably in Wilmette and Northfield, are rental housing.The North Shore was laid out as residential communities of single-family homes and when condos were finally needed, they were squeezed into various bits of open land. The latest condo building in Winnetka is the Wingate at 720 Green Bay Road, with 13 unit...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
In December, the Hubbard Woods area had no new homes come on the market. There were 3 closed sales in December: 693 Walden List price: $1,280,000 Sold price:   $900,000 (70% of list price) Days on market:  206      809 Locust List price:  $2,175,000 Sold price:  $1,919,500 (purchased in 2015 for $2,190,000)  (87% of list price) Days on market: 223    903 Private List price:  $3,399,000 Sold price:  $2,997,420 (88% of list price) Days on market:  105       Currently, the Hubbard Woods real estate market looks like this: Homes for sale:  32 Price range:  $499,000 to $13,750,000 Under contract: 11 Single family home absorption rate: 5 months (a balanced market between buyers and sellers) Condos for sale: 1 Price:  $549,000 Under contract: 3    See all homes for sale in Hubbard Woods
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
No doubt that the biggest real estate news of 2018 will be the new federal tax legislation. We can all agree that big changes are coming - particularly for certain segments of the market - including our North Shore. Will 2018 be a good year to sell your house? If you were planning to sell your home this year, then I would say go ahead. There is no known reason to hold out for something better - the last time we could do that was 2000-2007. There are many impending changes in 2018 which means a lot of uncertainty. New tax laws, higher interest rates, a shrinking Illinois population could boost buyer's and seller's anxiety. Where are home prices headed? Over the past three years, home prices have been flat (with the exception of Kenilworth that saw a rise in mid-2016.) This chart shows Wi...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 You're planning to sell your home soon and you know there are overdue repairs that need to be attended to. Those nagging things that you've always lived with and tolerated but just didn't bother to take care of. Things like crooked doors, wall or tile cracks, drippy faucets, drafty or broken windows, rotting wood, uneven pavers, or water seepage. Maybe the buyers won't notice . . . Like heck they won't.  Not only will they notice, but they will ding you on your price far more than the cost of the repairs. North Shore home buyers in Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, and Glenview have been finicky and can afford to be - there are many homes from which they can choose. If your home is perceived to be needing attention or looking tired, they will either reduc...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
Below are links for November home sales in Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, and Glenview. Obviously, a quieter time of year, but a house goes under contract almost every day - it could be yours! WINNETKA WILMETTE KENILWORTH GLENCOE NORTHFIELD GLENVIEW    
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 In Winnetka , there were 10 closed home sales in November 2017. The current real estate market in Winnetka:  Homes for sale:  108 Priced:  $339,000 to $13,750,000 Homes under contract/pending: 37Absorption Rate:  5 months Condos for sale: 4 Priced:  $419,000 to $549,000  Median Sales Price - past 12 months    See all homes for sale in Winnetka   To CONTACT Margaret Goss, please call 847-977-6024 or email:  margaret.goss@bairdwarner.comMargaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.  See full BIO for Margaret Goss.
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
 As life gets more frenetic with the upcoming holidays, the real estate market tends to simmer on the back burner. We've still had new listings (it's not a bad time to list your home for sale!) and sales, but as expected, not at the robust pace like springtime. Here's a rundown of real estate happenings in Hubbard Woods in November. NEW LISTINGS  820 Heather Lane - $1,300,000 4 bedrooms, 3 1/2 baths on .44/acre          1163 Tower Road - $2,495,000 5 bedrooms, 5 1/2 baths on .68/acre        CLOSED SALES    1305 Asbury (foreclosure) List price:  $975,000 Sold price:  $705,000 Days on market:  470         993 Westmoor List price:  $1,399,000 Sold price:  $1,200,000 Days on market:  179       900 Burr (new construction) List price:  $1,299,999 Sold price:  $1,289,999 Days on market:  111  ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
The annual Winnetka "Red Invitation" Holiday Sale will be held this weekend on Sunday, December 3, 2017. This is the village's 38th year holding this special sale event. Participating local merchats will have discounts, specials, and refreshments throughout the day. The sales will be conducted throughout Winnetka and Northfield's main shopping areas includuing Hubbard Woods, East Elm, and West Elm. In Northfield, the stores along Happ Road will be participating, as well as Teddie Kossof on Waukegan Road. Please note that stores have set their own hours and they vary. Most will be open all afternoon but some are doing things differently. For instance, Skandal, in Hubbard Woods is offering 30% off at 7am, then 25% at 8am, then 20% off for the rest of the day. Vivid Art Gallery will have a...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 What is "brown" furniture? One of the best lines I've read this year is from an article by Richard Eisenberg for Next Avenue: "Dining room tables and chairs, end tables and armoires, (brown pieces) have become furniture non grata. Antiques are antiquated." I know my two millennial aged children have no interest in a beautiful armoire or the buffet in the dining room. They are classic antiques that are sturdy, incredibly well made, and stunning to look at. But younger generations are keen to Target, Home Goods, and Ikea - stuff that won't make it past their own generation. Kids are mobile nowadays, they like to live minimally, and don't want to be bogged down by a lot of "stuff."  They want modern clean lines in their homes and are simply not interested in antiques, china, l...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
UPDATED 2019 It's a question I get all the time. I'd like to say the best time to sell is when you are ready! But if one is interested in the statistics regarding the timing of selling a home, then there are some things to consider. In Chicago's North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, and Glenview, there is a strong inclination to list homes in the spring. However, our "Spring" market actually can start as early as January, weather permitting. The number of homes listed in January of 2017 was 178, a huge increase over the 49 homes that were listed in the previous month of December 2016. The winter was mild enough to be favorable to the real estate market. Several years earlier after some heavy snowfall, homes were not routinely being listed until ...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
What is the median price of a Winnetka and North Shore home today? Homes in the communities that hug Lake Michigan are generally priced higher than those farther out - true, I think, of anyplace where there is a body of water. The North Shore communites that I primarily represent include Wilmette, Kenilworth, Winnetka, Glencoe, Northfield, and Glenview. Home prices in the first four towns are higher because those are on the lake. Even within each village, prices creep up as one goes east toward Lake Michigan. With that in mind, here are the median prices as well as the high and low price:  See Winnetka homes for sale    See Wilmette homes for sale  See Kenilworth homes for sale   See Glencoe homes for sale   See Northfield homes for sale  See Glenview homes for sale  To CONTACT Margaret...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
It hasn't even passed yet, but many are weighing in on whether it would help or hinder the real estate market. The key takeaways of the bill as they relate to real estate are: a $10,000 cap on the deduction of property taxes lowering of the the mortgage interest deduction cap from $1 million to $500,000 You will have to stay in your home longer to receive the capital gains exemption (must live there 5 of the past 8 years.) eliminates the deduction for moving expenses. The bill preserves certain advantages for owning investment property The $10,000 Cap High tax property areas (such as Winnetka and the North Shore) will be hit especially hard by this. Some might think it's not a big change - but they may be payng much less than $10,000 per year in property taxes. Everyone reading this tha...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
  New Hubbard Woods Listings 956 Greenwood $649,000 4 bedrooms + 3.1 baths (under contract in 9 days)     15 Old Green Bay $2,895,000 7 bedrooms + 6 .1 baths (7th bedroom and 6th bath in coach house)    Closed Home Sales in Hubbard Woods 1360 Trapp Lane List price:  $699,000 Sold price:  $640,000 Days on market:  70    1377 Asbury List price:  $835,000 Sold price:  $802,500 Days on market:  94        109 Old Green BayList price - $1,050,000Sold price - $1,000,000Days on market - 128      1045 Pine List price:  $1,545,000 Sold price:  $1,475,000 Days on market:  63      SEE ALL HUBBARD WOODS HOMES FOR SALE  In other news . . .Walgreen's will be moving from their current location at the corner of Scott into the old Mrs. Green's space on Green Bay Road in April of 2018.Mino's Italian Resta...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
  In October 2017, there were 19 closed home sales in Winnetka:  The current real estate market in Winnetka:  Homes for sale:  132Priced:  $339,000 to $13,750,000Homes under contract/pending: 32Absorption rate:  6 monthsCondos for sale: 7Priced: $419,000 to $649,000View all Winnetka homes for sale  To CONTACT Margaret Goss, please call 847-977-6024 or email:  margaret.goss@bairdwarner.comMargaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.  See full BIO for Margaret Goss. 
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
The North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, and Northfield don't have new home subdivisions being built. That has not happened in a long time because the North Shore is wedged between Lake Michigan and the Cook County forest preserves - meaning all the land has already been developed. That does not mean, however, that you can't buy a new construction home here.  In fact, the subject of new construction can be a heated one since we've lost many "historical" homes to builders of new construction. Many in the community feel that these older homes should be saved - but there has never been anything legal done to create such safeguards. Other people feel strongly that property owners have the right to sell to whomever they want - usually for the best price. So ye...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
We're heading into the fall and that usually means a small uptick in real estate sales - as long as it's before Thanksgiving. In September, there were 5 new homes listed in Hubbard Woods:  1138 Hamptondale - $789,000 Adjacent to the playground at Hubbard Woods School      1124 Merrill - $1,225,000 Sold in 2014 for $1,195,000 Has $60,000 in updates      915 Euclid - $1,249,000 5 bedroms, 4 full and 2 half baths 85 x 210 lot      1503 Edgewood - $1,765,000 4 bedrooms, 3 full and 2 half baths Sold in 2015 for $600,000 and was gutted and rebuilt. Built in 1927 but feels like new construction     649 Locust - $2,195,000 (and under contract) A beautiful rambling 6-bedroom and  4.1 bath home on almost 1/2 acre      1341 Edgewood - $2,385,000 A new construction home tucked in at the east end of...
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By Margaret Goss, Chicago's North Shore & Winnetka Real Estate
(Baird & Warner Real Estate)
GLENCOE    The current real estate market in Glencoe: Homes for sale:  101 Price range: $462,000 to  $6,400,000 Under contract: 22 Condos for sale:  4 Price range:  $169,000 to $599,000 SEE GLENCOE HOMES FOR SALE    To CONTACT Margaret Goss, please call 847-977-6024 or email:  margaret.goss@bairdwarner.com Margaret Goss is a full-time real estate agent since 1998 servicing the North Shore communities of Winnetka, Wilmette, Kenilworth, Glencoe, Northfield, Glenview, and Evanston.   See full BIO for Margaret Goss.  
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