Jobless claims fall to nearly 3-year low

 Hope this will help our Real Estate Market to recover, inventory to diminish and homes to sell.

By Hibah Yousuf, staff reporter

March 3, 2011: 10:18 AM ET

NEW YORK (CNNMoney) — In another sign that the job market is slowly recovering, the number of Americans

filing first-time claims for unemployment benefits fell last week to a nearly 3-year low.

There were 368,000 initial jobless claims filed in the week ended Feb. 26, the Labor Department said Thursday. That was down 20,000 from the week before, and the lowest since May 2008.

Economists surveyed by Briefing.com had expected initial claims to rise to 400,000 in the latest report.

The 4-week moving average of initial claims, which aims to smooth out volatility, also improved, falling to 388,500 from the previous week’s revised average of 401,250. That’s the lowest since July 2008.

The weekly figure has hovered close to the 400,000 level since December, but are on a downward trajectory.

“The most positive thing seems to be that claims broke out of the 400,000 range, where they’ve been stuck for a while,” said Dan Cook, chief executive officer of IG Markets. “Not to say we can’t pop back up, but it seems like jobless claims are heading lower into the next range, around 350,000.”

Economy faces new threats 

Still, Cook added that while the job market is headed in the right direction, it’s recovering only at a snail’s pace, with job creation at sluggish levels.

“We’re still not out of the woods,” he said. “The housing sector is in really rough shape, and even though corporations have a lot of cash on their balance sheets, they’re not ready to let it go. Those two factors make it really difficult to add jobs.”

The Labor Department is on tap to release the February jobs report Friday morning. Economists are expecting the economy added 190,000 jobs last month, up from just a gain of 50,000 in January.

The unemployment rate is expected to tick up to 9.2%, after falling to 9% in January.

Meanwhile, continuing claims — which include people filing for the second week of benefits or more — dropped by 59,000 to 3,774,000 in the week ended Feb. 19, the most recent week available.

Townhouse in Northbrook IL

 

 2030 Cambria Ct. Northbrook IL -Sold

 

In Northbrook. Outstanding 3 bedrooms,2.1 baths, 2 car attached garage townhome in Glenview Place. Immaculate, move-in condition this spacious, sun-filled unit is a great value. Kitchen with breakfast area, huge master suite with soaker tub & separate shower. Walk-in closets. Best location! Backs up to an open area. Glenview schools. Must See!!!

MARKET SUMMARY -NORTHBROOK

Chicagoland and Suburbia Market Watch

See below our overview of real estate activity in the greater Chicagoland area.

CHICAGOLAND MARKET WATCH

MARKET SUMMARY -NORTHBROOK

MARKET SUMMARY -MORTON GROVE

MARKET SUMMARY -GLENVIEW

Morton Grove, Rental 2 Bedrooms, 2 Baths and a Den.

Rented          

Upscale building. Beautiful, spotless and sunny unit-2 bedrooms, 2 baths and a den. Lots of upgrades. Kitchen with granite counter tops and ceramic tile. Large laundry room. Balcony with great view. 2 car heated garage with wash stall. Party room & exercise room. Walking distance to metra

Wheeling, Beautiful Condo 2 bedrooms 2 baths.

www.1425sandpebble114.com

Absolutely gorgeous unit! Completely renovated with cherry hardwood floors, brand new kitchen with stainless steel appliances, granite counter tops, beautiful bathrooms,and cedar closet. Balcony facing secluded, private area. Must see this gem! You will fall in love! Subdivision has pool, park and party room!

Homes Sold in Northbrook, IL March 2010

Here is the list of closed transactions of homes in Gleview, IL. If you’re buying or selling  a home in Northbrook, I’ll update this information every month.  Closed properties in Northbrook IL. March 2010   And if you have any questions or would like more information, please contact  me at 847-361-5605.  Looking to buy a home in Northbrook IL, go to www.MarinaJacobsonHomes.com and search MLS

Homes Sold in Northbrook in March 2010

Great Home in Buffalo Grove, IL

Buffalo Grove area. Bright and sunny home with updated kitchen and bathrooms. Large fenced back yard and a deck. 4th bedroom in a lower level. Buffalo Grove Schools and amenities. Great location close to Metra Station and shopping. Must sell!  Buffalo Grove, IL Home
4 Bedrooms, 2 Baths.

New Foreclosure Changes in Glenview, Northbrook, Morton Grove.

The Obama administration has announced that it is revamping its foreclosure-prevention efforts. Here is how the changes may affect you right here in Glenview, Northbrook and the surrounding areas.

Here’s a good guide.

Glenview, Northbrook, Morton Grove Foreclosure Changes

Northbrook, IL Condo. Near Northbrook Court.

Northbrook, fabulous condo facing lovely courtyard. Conveniently located near  Northbrook Court. Shopping, theater, restaurants and expressway. 2 bedrooms, 2 baths large unit. Neutral decor, large closets, eat-in kitchen. Unit is in move-in condition. Huge master suite. 2nd  bedroom currently used as a den. Can be easily changed back. Spacious balcony 24×5. Outdoor pool, tennis court, exercise room, party room, garage and storage. Must see!!! For more information go to

www.1175LakeCookRd505.com

Northbrook IL Fabulous Condo
2 Bedrooms, 2Baths

Homebuyer Tax Credit Clock Is Ticking…

To take advantage of the federal tax credits, eligible homebuyers have until the end of business on Friday, April 30, 2010, to sign a purchase contract on a new home.  $8,000 First-Time Homebuyer Tax Credit Eligible for homes with purchase agreements signed by April 30, 2010, and closed by June 30,  2010 available to first-time homebuyers who have not owned a home during the past three  years with   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 (partial credit can be granted for incomes up to $145,000) and joint filers with incomes up to $225,000 (Partial credit can be granted for incomes up to $245,000).

$6,500 Tax Credit For Current Home Owners Eligible for homes with purchase agreements written by April 30, 2010, and that close between November 7, 2009 and June 30, 2010. Qualified home buyers must have lived in their current home for 5 consecutive years of the last 8 years.

Maximum purchase price of the home is $800,000 • Single 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.

To buy or sell a home go to www.MarinaJacobsonHomes.com

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