Rob Gow - Real Estate and Shoreline Lifestyle: 2011

Wednesday, December 21, 2011

2012 Outlook for Chicago & Lake Michigan Shoreline Real Estate

What direction will the market take in 2012? It’s a question on the minds of buyers and sellers in the Chicago Real Estate market. Trying to figure out the real estate forecast is like watching the weather report; you want to make plans, and you don’t want to be caught in a storm.

Knowing when to buy or sell a home in the Chicago North Shore area, Evanston, the Indiana shoreline or Harbor Country comes down to your personal needs and abilities, more than any market trend. And while we won’t be predicting the future, we’ll share some real estate news that you may find insightful:

Real estate economists are expecting 2012 home prices to increase an average of 2%. Home sales activity is expected to increase by about 4%. This is a generalized, nationwide estimate and does not take local market factors into account.

The National Home Builders Association is reporting an improvement in builder confidence for the third straight month. Housing starts are up by 9.3% in November, with the lion’s share going to multi-family construction.

Chicago is the most-searched real estate market on the internet.

Strict mortgage lending has caused some home buyers to remain on the sidelines. Mortgage trends gaining traction among buyers include FHA financing, and using allowable cash gifts towards down payments.

Nationwide, there is a large inventory of distressed properties that have yet to flow through the market. Any impact to home values will vary by locale and the degree of saturation.

At Shoreline Property Advisors, we understand that results are what matter. Market conditions can change directions on short notice; news headlines can influence buyers; monetary policies can affect interest rates. In this market, it’s essential to have experienced, dedicated professionals on your side when buying or selling a home.

We always welcome your real estate questions. Contact us today!

Shoreline Property Advisors

@ Prudential Rubloff

Wednesday, December 14, 2011

Financing Your Lake Michigan Shoreline Vacation Home!

At Shoreline Property Advisors, we understand that Lake Michigan lakefront living is one of the top wishes among second home buyers. A vacation home is more than a second house - it's a family legacy, able to be enjoyed for generations to come.

Starting that legacy may seem daunting today, given restrictive mortgage underwriting. Fortunately, financing your Lake Michigan shoreline vacation home can be done! It takes patience and a good understanding of the process.

Mortgage underwriting will vary by lender, but there are common guidelines that apply. Understanding these tips will put you closer to owning your Lake Michigan lakefront home!

Your second home must be a reasonable distance from your primary residence, usually meaning one hour away or more. However, if your second home is located on a lakefront or has lake rights, this is an adequate substitute for the "reasonable distance" clause.

Lenders evaluate the distance and location of your second home carefully, as they must be confident that you are truly seeking a vacation home for your own use, and not an income property. Underwriting rules are strict in this respect.

The second home must be occupied by you for a portion of the year, be it seasonal use or weekend occupancy. The second home must be suitable for year-around occupancy, even if you only visit it in the summer. Three-season homes would not qualify.

Your second home cannot be used as a rental property, nor be part of a time-share.

Second homes must be single-family units. No duplexes or multi-family homes would qualify, even if you occupied a section of the property on a seasonal basis.

Each lender may have unique guidelines beyond these general rules of thumb. If you have a good relationship with a financial institution, and you've been browsing vacation homes on the Lake Michigan shoreline, why not pop the question? Knowing the requirements up front puts you closer to owning your dream home.

Whether you are looking for homes in the Chicago North Shore area, Evanston, the Indiana shoreline or Harbor Country, we're here to help you! Our Shoreline Property Advisors Team and our Prudential Rubloff Real Estate agents are dedicated professionals with a commitment to excellence. Contact us today for the best in real estate service!

Shoreline Property Advisors

@ Prudential Rubloff

Wednesday, December 7, 2011

Winter Curb Appeal Tips for Your Chicago Home

With the holiday season now in full swing, many of us are bracing ourselves for yet another infamous Chicago winter. And, while the dipping temperatures and piles of snow may not be ideal for everyone, many of us do enjoy the beauty that this season brings. The powdery white blanket that seems to embrace the city, endless twinkling lights, local shops adorned in festive decorations and a wide variety of seasonal events keep many of us in the holiday spirit throughout the colder months.

As Chicago Real Estate agents, we feel that your home should always act as your welcome respite, and even more so during the busy holiday season. Whether you’re planning on hosting gatherings or your Chicago home is currently for sale, creating a welcoming environment for guests or potential buyers begins the minute they view your home.

So, how can you create beautiful curb appeal for your home in the midst of a Chicago winter? Here are seven ways that can generate the warmth and appeal you desire!

1. Safety- You may have friends and family planning to visit soon, or may even be showing your Chicago home this winter, so you’ll want to put safety first! Be sure your driveway, sidewalk and front porch are cleared of debris or any snow. It’s always better to be on the cautious side and put down salt, as even rain can freeze and make walking up to your home dangerous.

2. Tasteful Decorations- While you can have fun with the season’s bright lights and characters of Christmas, it can be easy for some to get carried away. Try small white lights around your homes’ bushes or front porch post, a simple wreath and garland to enhance your home’s appearance without being too distracting.

3. Fresh Paint- Your Chicago home is more visible in the winter months as trees are free from their leaves and your home’s condition is more exposed. Touching up chipped or faded paint is a great way to help your Chicago home look refreshed.

4. A Neat Lawn- Whether there is snow covering your lawn or not; be sure to keep your lawn free from any leaves, twigs, etc… that may have blown through with the harsher winds. Just because your lawn is not expected to be as lush as the summer months, doesn’t mean to ignore the state of your lawn. Keeping it cleaned up will show that you care.

5. Clean Gutters- It’s not too late to make sure your gutters are free from leaves and other debris. You’ll want these cleared so that melting snow or rain can easily run through the gutters and not cause damage.

6. Lighting- The use of lights can really make your home stand out with the shorter winter days. Since there is more time without the suns light, using a variety of lighting can give your home a warm glow. Indoor window lights in each room provides a nice appeal, while lights along the pathway up to your home, a bright porch light and tasteful Christmas lights are all ways in which to enhance your Chicago homes’ curb appeal.

7. Cold Weather Plants- Hearty plants and Evergreen trees can withstand the winter months while adding visual appeal to the outside of your home. Evergreen Holly will add a splash of color with its red berries and can stand up to the cold weather.

We hope these ideas are helpful as you gear up for the winter season! Whether you are preparing for family and friends or Chicago buyers; we know you’ll enjoy creating a welcoming atmosphere for your home.

If you are considering putting your home up for sale on the Chicago Real Estate market this winter and are looking for a Chicago Real Estate agent, please contact us! Our Shoreline Property Advisors team and Prudential Rubloff Real Estate agents will be more than happy to put our experience to work for you!

We look forward to hearing from you!

Shoreline Property Advisors

@ Prudential Rubloff

Wednesday, November 30, 2011

The Advantages of Owning an Evanston Home

We hope you had a great Thanksgiving weekend with family and friends! Now that the holiday season is in full swing, I’m sure you’re busy planning festivities and getting holiday shopping done. But have you considered shopping for an Evanston home this holiday season?

Last week we talked about why now is a great time to buy a home, but this week we thought we’d point out some of the highlights of home ownership itself. If you’re relocating to the area or are tired of renting and interested in buying your first home, there are a few great advantages of home ownership that should help you in your decision. Take a look!

1. Great Deals- It’s a great time to buy a home in the Evanston Real Estate market. Interest rates are at historic lows such as 4% rather than 6% or higher. Home prices have also softened given the current buyers market, which translates into great deals on homes.

2. Equity- While buying a home can come with some initial costs, you will make that money back over time in equity built in the home. Historically, homes appreciate by about 4% to 6% a year, so you’ll be sure to see a return on investment for your Evanston home.

3. Predictability- Most people buying in today’s Evanston Real Estate market are choosing a fixed-rate term on their mortgage. Since mortgage rates are currently low, this makes sense and can give great predictability to your monthly payments.

4. Relationships- Homeowners stay put much longer than renters, so you’ll find you’re able to build relationships with your neighbors much more easily. Getting to know your neighbors can give you that sense of community in your Evanston neighborhood and bring about a more enjoyable lifestyle.

5. Ownership- While this may seem obvious, the fact that you own your home comes with a wide variety of perks! You’re free to renovate and update your Evanston home to match your taste and lifestyle.

As you can see, there are valid reasons to buy an Evanston home! If you’re a first time home buyer and have questions about buying a home or about the Evanston Real Estate market, please let us know! We'd love to meet with you and answer any questions you may have!

I look forward to hearing from you!

Shoreline Property Advisors

@ Prudential Rubloff

Wednesday, November 23, 2011

5 Great Reasons to Buy a Harbor Country Home This Holiday Season!

With Thanksgiving tomorrow, the festive holiday season will soon be in full swing! If you currently live in Harbor Country or are visiting friends and family in the area; you’ll enjoy the charming atmosphere that Harbor Country has to offer this time of year. Harbor Country homes are adorned with twinkling lights and local shops offer those special holiday finds that enhance the spirit of the season.

If you’ve been on the hunt for a Harbor Country home, you may be tempted to take a break during the holiday season. While finding your dream home may not be on the top of your list with all of the parties and gatherings with loved ones, there are a few compelling reasons to continue on with your search and to buy a home this holiday season. Take a look!

1. Lower Prices- With the lack of people searching during the holidays for a home in Harbor Country; prices soften a bit. You can view our website, ShorelineAdvice.com, to see a list of our current homes for sale in Harbor Country! You’ll notice these homes are priced to sell and are a great deal for buyers.

2. Less Competition- Many buyers don’t think to take advantage of house hunting during the holidays, so you’re sure to avoid any bidding wars that would occur at a peak point on the Harbor Country Real Estate market. This will mean a less stressful home buying experience for you!

3. Motivated Sellers- Sellers dread not being able to sell their homes before the holidays get under way. They’re very aware that most are not in the market to buy a home until Spring rolls around, which means; they’re motivated. They know showings of their home will greatly decrease, so any activity on their home is good news. Oftentimes they’re willing to come down on the price or be flexible with closing dates, and other extras.

4. Favorable Mortgage Terms- Mortgage lenders may be willing to lower interest rates or let go of some of their fees in order to gain your business. With fewer people shopping for homes; they will be experiencing a slower time in their business as well. Be sure to shop around to get the best possible deal. Your Harbor Country Real Estate agent will help point you in the right direction.

5. Tax Deduction- Closing before the end of the year can mean you are eligible to deduct the interest component of your first monthly mortgage payment from your taxable income for this year. You may also be able to deduct any money you pay for points to reduce your interest rate. Of course you’ll want to consult with a Harbor Country tax advisor to talk over the full details.

There are a wide variety of beautiful homes currently on the Harbor Country Real Estate market. If you’re ready to take the next step in your home search, or have any questions about buying a home in Harbor Country; we’d love to talk with you!

Our team of trusted advisors and experienced Harbor Country Real Estate agents would be happy to meet with you to discuss your real estate needs and help you find the Harbor Country home that you can enjoy for years to come!

We look forward to hearing from you! Have a Happy Thanksgiving!

Shoreline Property Advisors

@ Prudential Rubloff