Chicago & North Shore Home Buyer

Broker Tour Day April 5 In Evanston, Many Co-Op Apartments Seen.

 I try to tour every Tuesday in Evanston, because, I like to see what is on the market.  Usually I see the new listings and price changes.  This week there were almost 30 open houses, and I only got to see twelve.  We only have between 9:30 a.m. and 12:45 p.m. to see all that there is to see, so between traffic and parking, a lot of time gets eaten up traveling between listings.  Hmmm...maybe this year I'll try using a bike, definitely a green alternative, and healthy too.

  This week had a lot co-operative open houses.   Co-operative homes are different from condominiums in a couple of ways.  First of all in a co-op the property is actually held by the co-op corporation, each unit, or apartment, in the co-op is represented by shares.  Most co-operatives also require a down payment of 20% or more.  And the co-op directors want to know a lot more about your finances, your employment, employment history, and so on.  Many in have pet restrictions, and you probably will not be allowed to lease out your apartment.

  If it all seems to restrictive to you, then perhaps a co-op is not for you.  Co-operative owners, are actually people who care a great deal about their home and neighbors.  They want to know that they are living among trusted individuals.  I have had the pleasure of living in a co-operative, and I really found living in such a situation not very restricted at all.

  The shares are mostly based on the square footage of a unit as well as location.  So a unit with say 1000 square feet on the first floor may be granted 500 shares, and a similar unit on the seventh floor may be granted 525 shares.  Logic being that the upper floors are a better location, therefore, allotted more shares.  Your monthly assessment is based on the number of shares you own.  Your assessment is paid to the co-op corporation, which in turn pays the property taxes, utilities, maintenance, insurance, staff, lawn care, and snow removal.  The number of shares is also the number of votes that you have.

  At least once a year co-operatives have an annual meeting where major decisions are made.  Such as the election of new board members, or if this is the year we paint the common areas, or should we levy special assessments for a new roof because life is miserable for the folks on the seventh floor.  As always groups of individuals will lobby for some special some thing, like nicer tacky art in the main lobby, or narrower parking spaces in an already overcrowded parking area.  At the end there are usually coffee, tea and deserts, which you won't get any because your a deep conversation with one of your neighbors.

  Any how co-operative living can be really quite nice, and one reason I liked it was because every one was concerned about each other.  The one common goal is to have a nice place to call home, and in Evanston, most of the co-ops are really very nice and well maintain places to call home.

Short Sales 17% of Active Single Family Home Listings In Evanston,IL

 

Looking at only single family homes in Evanston. the current inventory is 218 active homes.  Of those 218 there are 37 short sales, about 17% of inventory.  Prices range from $45,000, for a two bedroom one bath single story home, to $595,000 for a 3 bedroom 3 bath home.  There are also some four bedroom 2 bath homes.

 

A couple are east of Ridge/Greenbay, but the majority are west of Ridge/Greenbay.  In zip code 60202 which is South Evanston, there are 14 short sales where average list price is around $249K.  In zip code 60201 which is North Evanston there are 18 short sales with an average list price of $259K.  Finally 60203 which is Evanston/Skokie there are 5 short sales with an average list price of $327K.

 

Market times vary, but seem to average around eight months, with some outliers at over a year.  There is one at around 3 years…good area, but, the house has many unusual features.

 

At this point in time we do not know how much of the shadow inventory will affect Evanston.  That is we do not know how many Evanston single family homes are being held by banks, or how many properties are entering the foreclosure process.  I suspect that we will know when the spring market hits in the coming weeks.  Bottom line reduced inventories is key to price stabilization.  If you must put your home on the market, be prepared to price your home competitively.

 

Evanston, Il Market Watch: Median Prices December 2009 and December 2010

The following statistics compare real estate activity in Evanston for December 2009 and December 2010.

 

Attached Properties Condos, Townhomes

 

There was a 23.1% decline in sold attached properties, 26 sold in December 2009, and 20 sold in December 2010.  No change in median sales price $248,000 for December 2009 and December 2010.

 

Detached Properties Single Family Homes

 

Sold single family homes increased 45% in December.  With 20 sold in December 2009, and 29 in December 2010.  Median sales price for December 2009 was $397,750 and $350,000 in December 2010 a 12% decrease in median sales price.

 

North Shore Trends

 

Attached properties showed an increase of 9.6% in the number of sales, but a median price decrease of a 1.7% to $206,000 for December 2010.  Single family homes for the same period experienced increase in the number of sales to 8.3%, and price decreases of 20.7%.  Median sales price for North Shore homes in December 2010 were $412,577.

 

Market expectations for the new year are expected to remain flat.  Remember all real estate is local so we may experience different market conditions in our market place.  A reduction in 2010 of single family homes in Evanston could help to stabilize home prices.  That being said don’t rush out to put your home on the market, if you do not need to move then don’t.  Unless, you can take advantage of a move up opportunity, and you are priced competitively.  The buyers market will probably be with us through out this year and well into 2012.

 

Condominiums have a long difficult road to travel.  Inventories are much too high, around a 14 month supply.  I expect to see more price declines and more foreclosure activity for condominiums especially for self managed condos in less desirable areas of town.  I also see investors taking over smaller condos, 3  to 6 unit buildings, and changing them back to rental apartments.

Basic Short Sale Issues, The Seller.

In a short sale the home owner owes more money on the mortgage, and other property liens, than the sale of the home will likely produce.  And the home owner is unable or unwilling to bring cash to the closing.  The lender has not yet foreclosed on the property, providing the home owner an opportunity to sell the home and perhaps partially reimburse the lender.

An advantage of a short sale is that it will lessen the impact on the surrounding neighborhood.  Foreclosures have a greater downward price pressure on the surrounding area, than a short sale would.  More importantly, for the seller, a short sale will not hurt the credit score as much as a foreclosure would.  Foreclosure remains on credit history for seven years and can take 200 points or more from ones credit score.

While a short sale may be the best approach for a home owner, not every home owner can be a short sale candidate.  For the home owner to be a good candidate, the home owner must have a valid hardship.  A valid hardship would be events such as job loss, business failure, medical costs, divorce or death of a spouse, or some natural disaster.  Take note here that a loss in equity is not considered a hardship.  Just because the market went sour and you have lost equity in your home, that is not considered a hardship.

Also is there enough time to accomplish a short sale?  If you have two months or so left before a judicial sale, then it is really too late to take the short sale route.  After all a short sale requires quite a bit of marketing to get people aware of the availability of a home.

In our current environment, the difficult part is determining the price the home will be offered.  With high inventories, a declining market, and buyers sitting on the fence, the value must be set so that it is not too high.  Too high and no one who can afford it will see it, too low and the home owner will lose more money.  In fact too low and the lender may not accept it.  See and this is another problem with short sales, instead of dealing with two parties, we are really dealing with three parties.

How much does the home owner owe on the property?  Are their other liens like a second mortgage, property taxes, or other liens?  Has the home owner talked with their lender, tax professional, and attorney?  If the home owner is acting in good faith and generally cooperative, then a short sale may work.  By being in a state of denial, or being uncooperative, sometimes the only alternative may be foreclosure.

I must say that if you think you are heading for trouble with your mortgage you must contact your lender as soon as possible.  By being proactive you will have more options and hopefully a better outcome.

Alternatives For Distressed Home Owners.

In a previous post I wrote about the foreclosure process and I suggested that there are alternative to foreclosure.  Options for distressed home owners should be considered, and distressed owners should not go it alone.  They need support not only from there friends and family, but also need to consult with tax and finance professionals, attorneys, and a local real estate agent.  Not all these options are for every one.  Indeed the most favorable options will have some sort of undesirable consequences.  Let's work from options that would have the best consequences to the worst.

Refinancing is an option.  Especially since interest rates are still at a 30 year low.  As the year progresses, expect those interest rates to creep up.  Some say interest rates my be as high as 6% by the end of the year.  Talk to your mortgage broker and find out what will take to refinance into a 30 year or 15 year fixed rate mortgage.  If you can not refinance because your home has lost value, go to the Making Home Affordable web-site to see if you qualify.  You need to be current on your existing mortgage payments, and have enough income to support the new mortgage.  Your existing mortgage must be owned or backed by Fannie Mae or Freddie Mac, with a Loan To Value ratio over 80% not to exceed 125%.  You must also live in the home, which can be between one and four units.

The second alternative is to sell your home and bring cash to the closing.  You want to avoid any damage to your credit that a short sale or foreclosure sale could do.  Lets say you have a $200,000 mortgage on a home that you need to sell.  But, due to declining values in the real estate market you can not sell that home even to break even at $200,000.  You sell your home for $180,000 then you need to bring $20,000 to the closing.   You could liquidate some other asset and bring that to the closing, remember your doing this to maintain a good credit rating.  Be sure to talk with your tax or finance professional, especially when we are talking about liquidating an Individual Retirement Account.

A third alternative is to call your lender.  Lenders are starting to Get It, they do not want to own your three bedroom split with the two car garage.  Lenders have always had work out options for consumers that find themselves in trouble.  Some options may include the recasting of loans, rolling back interest rates, letting you make partial payments.  But here is the main thing.  You must talk to your lender, you can not wait until you are behind in your mortgage payment.  You need to be proactive, if you know that your financial future is not too bright, you need to talk with your lender today. And check out the Making Home Affordable web-site specifically the Home Affordable Modification page.

Short sale is the fourth alternative.  The home owner owes more money on the mortgage, and other property liens, than the sale of the home will likely produce.  And the home owner is unable or unwilling to bring cash to the closing.  The lender has not yet foreclosed on the property, providing the home owner an opportunity to sell the home and perhaps partially reimburse the lender.  Short sales are interesting, so I will discuss short sales in more detail tomorrow.

Other alternatives are foreclosure, deed in Lieu of foreclosure, and just plain walking away.  These alternatives will do the most damage to ones credit.  And unfortunately it may be the only alternative available to the home owner.  In deed of lieu of foreclosure is simply signing over the deed of the property in exchange for forgiveness of debt.  In some states, like Illinois, where foreclosure time lines may be long, deed in  lieu of foreclosure works to the advantage of the lender.  First of all legal fees are greatly reduced.  Second the lender can secure the property sooner, and protect the property from damage and neglect.  Thirdly in an appreciating market, the property has more upward potential.  Of course in a declining market the property must be sold quickly.  Which is why dear real estate investor, or buyer that wants’ a great deal...which is why you need to be ready!  These deals can and do close in a matter of weeks, but, only to those that can bring the cash to the table.

Tomorrow, more details on short sales.

Tax Credits for Replacing Heating and Cooling Systems

Tax Credits for Replacing Heating and Cooling Systems

Article From Houselogic.com


By: Suzanne Cosgrove

Published: September 21, 2009

Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit worth as much as $1,500.

Replacing an aging heating and cooling system can save you money over time. According to Energy Star, a federal program that promotes energy efficiency, about half of what the average household spends on energy bills goes toward heating and cooling.
Upgrading your heating, ventilation, and air conditioning (HVAC) to energy-efficient units can cut utility costs by about 20%, or $200 annually, on average. A tax credit for heating and cooling systems can make the project more affordable.


This type of home improvement doesn't come cheap. Prices vary widely based on where you live, unit specifications, and the condition of your home, but figure a high-efficiency furnace will start at around $3,500, including installation, estimates Corbett Lunsford, executive director of Chicago-based Green Dream Group. A standard furnace may cost $2,400. To help offset the price difference, the IRS allows a tax credit worth up to $1,500 on eligible HVAC systems put into service during 2009 or 2010. Consult a tax adviser.

PAY ATTENTION TO EFFICIENCY RATINGS

To earn an Energy Star rating, furnaces must be more efficient than standard units, with annual fuel utilization efficiency ratings, or AFUE, of 85% for oil furnaces and 90% for gas furnaces. The Energy Star seal of approval alone isn't enough to garner the federal tax credit. Credit-eligible(http://www.energystar.gov/index.cfm?c=tax_credits.tx_index#c3) gas furnaces (either natural gas or propane) must have AFUE ratings of 95% or greater; oil furnaces, 90%. A boiler must have an AFUE of 90%.

Heating by burning a fuel is inherently inefficient. Simply put, high-efficiency furnaces have components that are better designed to get more heat out of the combustion process, Lunsford says. You'll need to hire an HVAC contractor to calculate the size of the equipment needed for your home. Beware bidders who take a one-size-furnace-fits-all approach. Air source heat pumps(http://energystar.custhelp.com/cgi-bin/energystar.cfg/php/enduser/std_adp.php?p_faqid=5799) and advanced main circulating fans(http://energystar.custhelp.com/cgi-bin/energystar.cfg/php/enduser/std_adp.php?p_faqid=5592&p_created=1236263253&p_sid=VhonSBsj&p_accessibility=0&p_redirect=&p_lva=5592&p_sp=cF9zcmNoPTEmcF9zb3J0X2J5PSZwX2dyaWRzb3J0PSZwX3Jvd19jbnQ9MSwxJnBfcHJvZHM9MCZwX2NhdHM9JnBfcHY9JnBfY3Y9JnBfcGFnZT0xJnBfc2VhcmNoX3RleHQ9NTU5Mg**&p_li=&p_topview=1) can also qualify for the $1,500 tax credit.

Technically, a homeowner could replace either a furnace or a central air-conditioning unit and be eligible for the tax credit. Practically speaking, you probably will have to replace both for the A/C to qualify, says Enesta Jones, a spokeswoman for the U.S. Environmental Protection Agency. Most homes have split systems(http://energystar.custhelp.com/cgi-bin/energystar.cfg/php/enduser/std_adp.php?p_faqid=5830&p_sid=zr7envIj&p_lva=5697) made up of an outdoor condenser and compressor that are connected to an indoor air handler that's part of the furnace. Split systems must have a SEER rating(http://energystar.custhelp.com/cgi-bin/energystar.cfg/php/enduser/std_adp.php?p_faqid=3041&p_sid=zr7envIj&p_lva=5697) of at least 16 and an EER rating of at least 13. The higher the rating, the more energy efficient the unit. A package A/C system, which houses all of its components outdoors, requires lower ratings.

HVAC'S VALUE GOES BEYOND SAVINGS

It typically takes about a decade's worth of energy savings to recoup the investment in a new HVAC system, Lunsford says, though that time frame can vary greatly depending on how much fuel prices fluctuate. Less apparent in dollar terms are increasing the comfort level in your home and lowering your household's drain on non-renewable fossil fuels. Then there's the effect on your home's value when it comes time to sell.

You're going to enhance a home's saleability by moving to a more energy-efficient heating and cooling system, says Frank Lesh, president of Home Sweet Home Inspection Co. in Indian Head Park, Ill. That doesn't mean adding a $5,000 furnace will add $5,000 to the sale price. Rather, potential buyers are less likely to push for repairs or negotiate a credit if the HVAC is in good shape. Evaluate systems older than 10 years for possible replacement.

But before you do, conduct a wider energy audit(http://www.houselogic.com/articles/conduct-your-own-energy-audit/) of your home. Lunsford, also manager of consumer education for the U.S. Green Building Council's Chicago Chapter, says he rarely recommends replacing a furnace as the first step in making a home more energy efficient. Instead, start by sealing it against air leaks. Do-it-yourself caulking and weather-stripping help, as does adding insulation in the attic. Professional air sealing, which is more effective, can cost as much as $5,000 for a large house, he says. The payoff: Energy costs should go down, and you might be able to get by with a smaller HVAC system.

GETTING TAX CREDIT FOR YOUR UPGRADES

The federal energy tax credit is based on 30% of the cost of an eligible HVAC system. Installation charges count too. A $5,000 bill would max out the credit. You'll need to owe more in taxes than you're trying to claim in credits to qualify. Use IRS Form 5695. Save receipts for your records, as well as manufacturers' certification statements(http://energystar.custhelp.com/cgi-bin/energystar.cfg/php/enduser/std_adp.php?p_faqid=5781&p_sid=AMebpRzj&p_lva=5697&p_accessibility=0&p_redirect=&p_sp=cF9zcmNoPTEmcF9zb3J0X2J5PSZwX2dyaWRzb3J0PSZwX3Jvd19jbnQ9MzcyLDM3MiZwX3Byb2RzPTAmcF9jYXRzPSZwX3B2PSZwX2N2PSZwX3BhZ2U9MQ%2A%2A&p_li=). If part of a new HVAC system qualifies for the credit but another part doesn't, ask the contractor to itemize the receipt.

The tax credit is aggregated for all qualifying energy upgrades-insulation, roofs, windows, and so on-so you can't claim separate $1,500 credits for each project. Only improvements to your existing primary residence count. New homes and second homes are excluded.
This article provides general information about tax laws and consequences, but is not intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Readers should consult a tax professional for such advice, and are reminded that tax laws may vary by jurisdiction.

Suzanne Cosgrove, who spent nine years as an editor at the Chicago Tribune, has written for a number of business and real estate publications. She has a 90-year-old house and a long list of home-improvement projects.

Reprinted from HouseLogic (houselogic.com) with permission of the NATIONAL ASSOCIATION OF REALTORS (R).
Copyright 2010. All rights reserved.

Housing Tax Credit & Expansion is Approved.

In an effort to get housing moving again, Congress has passed and President Obama has signed a bill to extend the $8,000 First-Time Home buyer Tax Credit, and expand a $6,500 Tax Credit For Current Home Owners.

$8,000 First-Time Home buyer Tax Credit Extension

Under this program qualified first-time home buyers may receive a tax credit up to $8,000.

• Eligible for homes with purchase agreements signed by April 30, 2010, and closed by June 30, 2010.
• Available to first-time home buyers who have not owned a home during the past three years.
• Credit amount up to 10% of the home's value, not to exceed 8,000.
• Buyers qualified for full tax credit are single taxpayers with incomes up to  $125,000 and joint filers with incomes up to $225,000.

$6,500 Tax Credit For Current Home Owners

Under this program the bill provides a tax credit to current home owners who purchase a new primary residence.

• Eligible for homes with  purchase agreements written by April 30, 2010, and close between November 6, 2009 and June 30, 2010.
• Qualified home buyers must have lived in their current homes for five consecutive years of the last 8 years.
• Maximum purchase price of the home is $800,000.
• Single tax filers who earn up to $125,000 are eligible for the total credit amount.  Partial credit can be granted for incomes up to $145,000.
• Joint filers who earn up to $225,000 are eligible for the total credit amount.  Partial credit can be granted for incomes up to $245,000.

Some say that the First-Time Home buyer that was passed earlier in the year was widely successful, others claim that the program attracted people that were going to buy a new home even with out the credit.

The Tax Credit for Current Home Owners, may be the better of the two programs.  It may reduce the log jam of people that want to move, but, can not sell their homes.  I'm talking about people that need to trade up, or trade down.  I my market area I have met people that want the suburban home, but now own that condo, the one they can not sell, but, need to sell to make the deal work.  Also, older folks who have that suburban home and want to trade to a smaller place, but...can't sell their home to make the move.

For more information, you may want to consider talking to your tax professional.

 

 

Chicagoland Residential Real Estate, Hows The Market For September 2009

Steady growth in sales volume has been seen in Chicagoland real estate from January 2009 thru September 2009.  Sale prices remain lower with an average MLS sales price of $240,359.  Housing inventory fell for the second month in a row, with August 15% lower than August of 2008.  The average sales price remains 21% below 2008 price.  Prices are starting to stabilize in some communities, and we have seen multiple offers, effectively increasing the asking price.

 

While the number of closings for September 2009 decreased from the prior month, closed properties remain higher than September 2008.  Also there has been much ado about Pending sales, units under contract has increased for the 10th consecutive month.  Unfortunately, just because a home is under contract, it does not follow that any given contract will become a closed contract.  The credit market is still not functioning well, purchasers may find banks unwilling to loan funds for properties.  In some cases because a property may not appraise well, or the purchaser may be considered a poor risk.

 

Mortgage rates for conventional 30 year fixed loan remain near the 5% level, indeed, dropping to under 5% for the week ending October 1, 2009.  Interest rates were at around 6% for the third quarter of 2008, and Jumbo Loans were dead.  Currently Jumbo Loans are around 5.8%.

 

Finally the window of opportunity for the $8,000 Buyers Credit is closing.  The last day to claim the credit is November 30, 2008.  At this point no one knows if Congress will extend the credit or let it run out.  Convention wisdom has it that Congress will let it run out.

You Can't Believe In All The Information On The Internet. Some Of It Is Wrong!

Every once and a while I'll be asked about Zillow.  Zillow is a really neat web-site, with lots of information.  Perhaps too much information, some of which is more information than I want or need.  Quite a bit of it inaccurate.  Say  I type in an area say Highland Park, Illinois, I would expect to get Highland Park, Illinois listings.  Right!   Wrong, I get Highland Park, Northbrook, Lake Forest, Buffalo Grove, Vernon Hills...Hey, what gives, I want Highland Park listings only.  Now you know and I know that Highland Park is different from Buffalo Grove, so why give me listings that I don't need?  That's just the tip of the iceberg as far as the data I want to see, suppose I want to see price.

Zillow Zestimates, The Home Value Report where the estimates are only a keystroke away.  They appear to be legitimate, but, alas, they are at best ball park figures, often off by tens of thousand of dollars.  I am being kind, some agents have stated that the numbers have been off hundreds of thousand of dollars.  Zillow appears to be close only in sub divisions, where most of the homes are similar.  But, up here on Chicago's North Shore, many homes are not the cookie cutter home that one will find in a subdivision.  However, most of the homes here have been build by dozens of different builders and architects,  most are  not on adjacent lots.  So you may see a similar home here, but not next to another, often several blocks away.  Also over the years, many home have been modified, landscaped ,and just plain look different.

Unfortunatly buyers and sellers seem to rely on the data provided by Zillow.  The bad news is that real estate agents in the local markets need to educate buyers and sellers.  Agents that can't work with these buyers, should not even work with them, hell if they know more than you...let them broker their own deal, why waste your time.  The good news is that people who team up with local agents will get the real scoup on the market in their area, and get some really great deals.  Every one else will just piss off every one else and end up with out any deals.  And believe me when this market finally turns, it will be the know-it-alls that rely soly on internet information that will be left with out in the cold, missing the best real estate market, perhaps in a life-time.  

Bottom line. real estate is local.  Zillow can't get it right because they have old data.  Data that is dumped into a data base,with data points that are added, multiplied, divided, subtracted, and manipulated to come up with some best guess as to price.  However, a local agent will get their data from recent sold propertites from a local MLS.  A good agent will make adjustments up or down to come up with a pretty good estimate as to properety values.

Hows The Market Deerfield Illinois Mar Apr 2008

 

Thought I'd share with you some facts and figures as to the real estate market in Deerfield and surrounding market area.  But other than the market is alive and not too bad.  But, what can one expect after a number of years of a hot market.

                                                    What does all this mean?

Increase in active listings, more inventory will create a downward pressure on prices.  In a hot market we might see prices at three percent below asking price, in todays market we are seeing sales prices five, seven, even 10% below asking price.

While we still do not know where the bottom is in the market, great opportunities exist for buyers, especially first time buyers.  Buyers that expect to be in their new home for several years will  be in homes that will experience appreciation, and  they will  have lower interest rates.

The opportunity for buyers:  Excellent selection of homes at all price points with attractive financing .  Sellers are making offers of lease to purchase, and  seller financing and buy down rates.

                                                        

                                                              DEERFIELD

                                                March                                       April

• Active Listings                190                                                           207
• Median Price               $679,000                                                   $657,500
• Ave Mkt Time                 189                                                           189
• Under Contract                 22                                                              25
• Med Cont Price            $598,950                                               $599,900
• Ave Mkt Time                 199                                                            189
• Closed                             30                                                              29
• Med Close Price           $662,005                                               $675,000
• Ave Mkt Time                 191                                                            209

                                                             RIVERWOODS

• Active Listings                 52                                                             57
• Median Price                $848,250                                                  $889,000
• Ave Mkt Time                 218                                                           222
• Under Contract                   4                                                             6
• Med Cont Price         $1,022,500                                                $1,014,500
• Ave Mkt Time                   86                                                           110
• Closed                               7                                                               8
• Med Close Price        $1,100,000                                                $1,014,313
• Ave Mkt Time                 239                                                           222

                                                        

                                                              HIGHLAND PARK

• Active Listings                 350                                                            366
• Median Price                $849,450                                                   $869,000
• Ave Mkt Time                   260                                                           262
• Under Contract                  48                                                              45
• Med Cont Price              $737,000                                                  $675,000
• Ave Mkt Time                  226                                                            194
• Closed                              69                                                               76
• Med Close Price            $560,000                                                   $647,500
• Ave Mkt Time                  203                                                             228

                                                        

                                                                NORTHBROOK

• Active Listings                 287                                                           325
• Median Price                $719,000                                                   $699,000
• Ave Mkt Time                  212                                                           201
• Under Contract                  49                                                             53
• Med Cont Price             $649,000                                                  $600,000
• Ave Mkt Time                  213                                                            196
• Closed                              62                                                              62
• Med Close Price           $607,500                                                   $586,250
• Ave Mkt Time                  170                                                             184

                                                         

                                                                LINCOLNSHIRE

• Active Listings                 73                                                              83
• Median Price                $699,000                                                   $719,900
• Ave Mkt Time                 217                                                             192
• Under Contract                   5                                                                5
• Med Cont Price            $550,000                                                     $699,000
• Ave Mkt Time                 170                                                              245
• Closed                             16                                                                13
• Med Close Price           $659,000                                                     $620,000
• Ave Mkt Time                 192                                                              258

NOTE: Information based in whole or in part on property data supplied by the Multiple Listing Service of
Northern Illinois. MLSNI is not responsible for its accuracy and data maintained by MLSNI may not reflect all real estate activity in the marketplace.