Home Values
Chicago will still be a homebuyer’s bargain well into the 2020’s.
Average Price by Wilmette Elementary Schools
Average Price by Wilmette Elementary Schools
Here is the latest data on how average sales prices have fared among the various elementary schools in Wilmette. You’ll notice the bump in early to mid 2015 for Central School. This is partly the result of a majority of $2M+ sales occurring in Central School district between December 2014 and December 2015. One lakefront sale, alone, garnered $6.2M in February 2015. Additionally, a healthy portion of Wilmette’s new construction closed in Central School District in early to mid 2015 (8 sales total) compared to just 3 new construction sales over the most recent 12 months in Central School. Interestingly, new construction activity has been robust in Romona District thanks to the lower cost of land and the Wilmette Circle subdivision. 8 new construction homes have closed in Romona district in the last 12 months which has helped to elevate Romona’s average sale price.
The Malibu Beachfront Home of "Jan Brady" Proves a Wise Real Estate Investment
An example of the power of wise real estate investment.
Lots of opportunities on the North Shore to invest in real estate – the fall and winter months can reveal some great deals too! Eve Plumb, better known as Jan Brady, just made 7,000% profit on the Malibu beachfront home she purchased as an 11 year old. Call me today to find your next real estate investment on the North Shore!
‘Brady Bunch’ star Eve Plumb sells Malibu home — see inside – TODAY.com
By: Jordan Mute, Today.com
“Here’s a story of a lovely lady” named Jan Brady who’s quite a real estate mogul these days.
The days of “The Brady Bunch” might have come and gone, but Eve Plumb who played Jan Brady in the hit show is still riding the wave of her early fame. The actress turned painter recently sold her home in Malibu for $3.9 million.
Eve Plumb “Jan Brady” Sells Malibu Home for 7,000% profit!
The 58-year-old purchased the beach house back in 1969, the first year of her role as Jan Brady, for $55,300, reports the Los Angeles Times. She was just 11-years-old. Talk about being wise beyond her years! The bungalow style home, which is located on one of Malibu’s picturesque beaches, includes three bedrooms and 1.75 bathrooms. The home was listed by Brian Linder and William Baker of Deasy/Penner & Partners. While slightly dated, the décor inside has a tropical feel, making it perfect for a beach retreat. Whitewashed wood gives the home a light and airy look.
Eve Plumb’s Beachfront home in Malibu
“The most notable feature was, of course, the site on Escondido Beach Road, with one of the largest oceanfront parcels available in the area,” wrote J.J. Juarez of Deasy/Penner & Partners in an email to TODAY. “It was essentially a little cottage, with no heat or air conditioning, but a fabulous view on one of the best private beaches in Southern California.”
A wrap around deck allows for sunset cocktails on the beach. Sign us up!
And if the new owner isn’t interested in the home’s 50s style charm, there’s a sleek and modern rendering from Meis Architects of what the current 850-square-foot home could transform into with a little TLC.
Interior of Eve Plumb’s Malibu beach home
Source: ‘Brady Bunch’ star Eve Plumb sells Malibu home — see inside – TODAY.com
Buyer Showing Activity Gives You the Advantage
How’s the Showing Going?
What if you knew how many buyers were viewing competing properties? Buyer showing activity is an essential metric to consider when buying or selling a home. On a national level, it speaks to consumer confidence in the housing market. On a local level, it provides you with a competitive advantage. For my buyers. I do my best to evaluate the competition in a certain price point and even, where possible, the competition for a particular property which dictates how aggressive you should be when making your offer. For my sellers, I analyze the price bands with the most buyer activity so that you can price your home where the buyers are. Buyer showings in Illinois have strengthened over the last 6 months which is a reflection of our busy spring season and a fairly consistent housing market (see below).
The National Outlook
 Buyer Traffic 3Q 2015 |
 Buyer Traffic 2Q 2016 |
Buyer Showing Activity: Wilmette, Winnetka, Glenview and Lincoln Park
Note, that for local buyer showing activity in Wilmette, Winnetka, Glenview and Chicago, the most telling stat is the average showings per listing as it takes into account the number of listings in each price point. The strongest segments are: Winnetka – $1.2M-$1.3M; Wilmette – $1.25M-$1.3M; Glenview – $1.4M-$1.45M; Lincoln Park – $1.25M – $1.3M. If you would like me to run numbers for your price point or a particular home (which I can often do), contact me and I will be happy to help!
 Wilmette Buyer Showing Activity |
 Winnetka Buyer Showing Activity |
 Glenview Buyer Showing Activity |
 Chicago-Lincoln Park Buyer Showing Activity |
Tax Benefits of the CAGE – Wilmette
Do you know about the huge tax benefits of the CAGE? The CAGE is one of the most desired areas in all of the North Shore, and especially Wilmette. Its proximity to the lakefront, as well as downtown Wilmette, make its expansive lawns and grand homes very popular. About 600 homes in the CAGE fall within the Ouilmette Historic Landmark District and this can have a huge impact on the property tax bills for these homes.
Tax Benefits of the CAGE – Wilmette: Ouilmette Historical Landmark District
When purchasing a home within this historic district, if you spend 25% or more of the home’s fair cash value (as determined by the assessor’s office), you can receive a property tax freeze for 8 years, with a graduated step-up for an additional 4. Purchasing a older home in this historic district can really benefit your pocketbook as well as maintaining an important piece of Wilmette history. For details about the tax freeze, click here. If you would like help in finding your dream home in the CAGE or elsewhere in Wilmette, please email or call me at 847-778-0540 – I’d be happy to help!
Ouilmette North National Register District MapGuess How Much This Home Sold For? Guess Who The Owner Is?
Note the $1,750,405.00 Zestimate. Yet the home sold for $1,050,000 on February 29. Guess who this home belonged to? None other than Zillow CEO Spencer Rascoff! Thereby proving that Zestimates can miss by a mile.
In fact, did you know that in Chicago, the Zestimate sports a median error rate of 9%?!? That means a $1,000,000 home has a 50/50 chance of selling between $910,000 and $1,090,000. That is quite a range. While automated home valuations can be fun and get you in the ballpark (large as that ballpark may be), nothing can replace a market analysis by a real estate professional. I am happy to provide you with a complimentary home valuation at any time!
I have posted an excerpt from Zillow’s own website describing the accuracy of the Zestimate. Note that Chicago’s accuracy is only 2 stars. Click on the full article from Inman News below.
The median error rate for Zestimates in Chicago is 9%
Source: Zillow CEO Spencer Rascoff Sold Home For Much Less Than Zestimate
To Renovate or Not. . .
As everyone knows, many factors affect a home’s value. Recently rehabbed and updated homes always sell faster and for a higher price since buyers are willing to pay a premium for a move-in ready home.
luxury living room interior and decoration
In the last 12 months, 93 homes have sold in East Wilmette, 32 of which were considered recent rehabs. The 32 recently rehabbed homes, on average, sold for 95% of the original list price and in 38 days while the non-rehabbed homes sold, on average, for 92% of original list price and in 51 days. (Based on Midwest Real Estate Data, as of 1st quarter, 2016). At $1,000,000, the difference between 95% and 92% is $30,000. We can help ensure you don’t leave money on the table!
Homeowners often ask Realtors to quantify the value of a home improvement they have made or plan to make. Check out an excerpt from the Remodeling Impact Survey: 2015, published by the National Association of Realtors. Take a look to see how home improvements compare. Sometimes, smaller projects such as paint, refinished floors and landscape deliver the largest returns!
As always, I welcome the opportunity to serve you with all of your real estate needs. Call or email any time – I’d love to hear from you!
