January 2002 
(Click here to see past newsletters)
Welcome to the latest edition of Sue’s News! I hope this newsletter provides you with some useful information about the current North Shore real estate market, along with tips on maintaining your home. If you have any questions or suggestions on items you’d like to see in future newsletters, please contact me via email at admin@mynorthshorehome.com.
This month's features include some perspectives on:
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Sales and Market Time |
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Interest Rates and Mortgages |
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Home Tips |
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What is Your Home Worth? |
Happy New
Year!
Since December 1, 2001, the average market time (time a home remains for sale) for the North Shore is 58 days.
Most conventional interest rates are hovering around 7% with most just below this mark. If you’d like more information on interest rates or want to shop for the best rate in your area, click on this link to view some options that might be right for you.
Thinking of putting in a wood floor in your kitchen? Tim Carter of the Chicago Tribune recently reported some things to consider when installing a wood floor. Remember your appliances ‘come with leveling legs and can become trapped for life’ if floors are put down after cabinets are already installed. Working around cabinets requires patience and precision to prevent scratching of cabinets and can increase the amount of time required to lay your new floor. Tim also recommends at least four coats of urethane to a kitchen floor. For the full article, see the Chicago Tribune Your Place section from January 12, 2002. Tim also has a website for all your building questions at www.askthebuilder.com.
Preparing for ice this year? Don’t forget to insulate any pipes that are susceptible to the changes in temperature such as those in unheated crawl spaces. Check your attic for gaps around vent ducts, chimneys, and electrical facilities entering and leaving your home. Any of these areas can allow for escape of warm air and consequently, loss of warm-air temperatures in your attic that would otherwise cause ice and snow to melt from your roof. To prevent heat loss, as well as those monstrous icicles and damning from forming on your roof and gutters, try spray-foam insulation to fill wholes or drafts. You can also buy heat tape to melt any ice that may form in gutters or on your roofline. For more home tips, check out www.realtor.com.
Ever wonder what the average home in your area sells for and how it might change each year with the latest market? Here are a few examples of community home-sale increases from October 2000 to October 2001.
Deerfield – average home sale $359,939 up 9.95% from 2000.
Glencoe – average home sale $813,792 up 5.75% from 2000.
Glenview – average home sale $427,877 up 11.42% from 2000.
Highland Park – average home sale $534,202 up 13.59% from 2000.
Kenilworth – average home sale $1,350,858 up 17.78% from 2000.
Lake Forest – average home sale $959,277 up 8.17% from 2000.
Northbrook – average home sale $476,210 up 12.01% from 2000.
Wilmette – average home sale $588,314 up 3.48% from 2000.
Winnetka – average home sale $1,142,478 up 18.65% from 2000.
Source: Realtor Magazine (October 2001) annually reports the average change in home prices in the Chicagoland area.
If you’d like to know the market value of your home, please call 847-681-4157 or email - susan@mynorthshorehome.com.