Chicago Metro Area Real Estate » Wilmette

Cook County sees uptick in house sales between $650K and $700K

Fran Bailey, Baird and Warner Realtor — Thu, 08 Oct 2009 14:48:24 +0000

While looking at sales data as I write my market outlook for the latest issue of “Maximizing Equity” I noticed that there have been more house sales in the past 30 days in Cook County in the $650K to $700K price range than in the $600K to $650K price range or even the $550K to $600K price range. Typically, higher price ranges have fewer sales than lower price ranges since there are less people who can afford more expensive homes.

28 houses sold in the $650K to $700K range as compared to only 18 in the $600K to $650K range and 25 in the $550K to $600K range. Only 5 of the 28 homes were in the city. Wilmette had the most sales of any suburb with 3. 4 of the 28 sales were short sales or foreclosures.

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Just Like in Politics, It Pays to Fact Check in Real Estate

Fran Bailey, Baird and Warner Realtor — Mon, 03 Nov 2008 20:41:55 +0000

While it’s been an exciting political season, I won’t miss the barrage of misinformation that has been spewed forth. Fortunately, there are several political fact checking sites such as PolitiFact.com, FactCheck.org and The Fact Checker to help us sort out the half-truths and outright lies. Between my own fact checking and the sellers’ own words, a couple of outright lies came to light for a home purchase in Wilmette recently.

During the negotiations the listing agent tried to get me to feel sorry for the sellers stating that the husband couldn’t work and that they had moved to a smaller house. What the listing agent didn’t know was that I already knew about the house that the sellers moved to. It was a larger house (nearly 4,000 SF) with a sale price of $1.65M – hardly the kind of home you move to, if you need to scale back financially!

The husband appeared briefly during the closing last week. We learned that he was a dentist and couldn’t stay because he had a patient waiting for him. So much for not being able to work!
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Wilmette House Market Down Except at Top

Fran Bailey, Baird and Warner Realtor — Thu, 18 Sep 2008 16:50:45 +0000

I’m negotiating the purchase of a house in Wilmette priced in the $700Ks. Before I discussed an initial offer with my buyers I researched this North Shore suburb house market. Here are some of my findings.

The median price of a house in Wilmette for the past 12 months is down 3.4% from the previous 12 months.^* The number of houses sold is down over 17%. As the graph below shows, the percent change of number of houses sold in various price ranges was down in all prices ranges above $500K. In the $700K range where I’m negotiating, the number of houses sold in the past 12 months is down over 20%.

Even with a down market, the maximum price paid for a house in Wilmette during the past 12 months was $9M! This easily tops the maximum prices of the previous 12 months ($7.25M) and the 12 months before that ($3.22M).

^{*Based on Midwest Real Estate Data LLC (MRED) Data.}Similar Posts:

ChicagoTribune.com’s Community Intelligence

Fran Bailey, Baird and Warner Realtor — Sun, 15 Jun 2008 14:41:29 +0000

Looking for more information on Chicago neighborhoods and suburbs? After you review my neighborhoods and suburbs’ posts, check out the ChicagoTribune.com’s Community Intelligence. For each neighborhood and suburb it shows a map with numerous amenities, market stats, demographics, crime data and schools. Community Intelligence also has several articles most recently featuring Andersonville and Wilmette.Similar Posts:

4 Bedroom House Prices in the North Shore

Fran Bailey, Baird and Warner Realtor — Mon, 01 May 2006 23:39:42 +0000

Saturday I was back in the North Shore showing 4 bedroom houses in Northbrook, Wilmette, and Highland Park. Here’s a visual representation so you can see how the average sale price for 4 bedroom houses in this area in the period 04/01/2005 to 03/31/2006 compares by suburb. The darker the green, the higher the average sale price. Average sale price is based on data from the Multiple Listing System of Northern Illinois (MLSNI).

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Chicago and Suburban Buyer Property Transfer Taxes

Fran Bailey, Baird and Warner Realtor — Wed, 01 Mar 2006 04:09:28 +0000

Trying to decide whether to buy a home in the city of Chicago or in a suburb? One fact that tips the scales slightly in favor of the suburbs is the city of Chicago’s real estate transfer tax for buyers. Buyers in the city must pay $7.50 per $1000 paid. That means buyers of a $400,000 home in Chicago have to pay $3,000 ($7.50 x 400) to the city at closing.

However, there are a few suburbs that also impose a property transfer tax on buyers. In the north and west suburbs they include (per $1000): Addison ($2.50), Harwood Heights ($10), Hillside ($7.50), Lincolnshire ($3), Mettawa ($5), Mount Prospect ($3), Naperville ($3), Niles ($3), North Chicago ($5), Wheaton ($2.50), and Wilmette ($3).

Tax rates do change so check current rates before buying.Similar Posts: