The National Association of Realtors reported that the annual sales pace in December reached 4.6 million homes, up 5% from November’s pace and 3.6% from a year ago.

Local Real Estate Market Glenview, Northbrook, Morton Grove.

 MARKET SUMMARY -GLENVIEW

MARKET SUMMARY -NORTHBROOK

MARKET SUMMARY -MORTON GROVE

CHICAGOLAND MARKET WATCH

National: It was the third straight month of improvement in the pace of sales. The fourth-quarter sales volume lifted full-year sales to 4.26 million homes, up 1.7% from 2010 levels.

The median price was $164,500 in December, down 2.5% from a year ago. For the full year, the median price of $166,100 was off 3.9% from 2010 levels.

Foreclosures made up 21% of all sales, while short sales were 12%. Both figures were comparable to 2010.

• School Report Cards

(Crain’s) — Chicago-area home prices continued to fall across the board in the first six months of this year, with the exception of one part of one northern suburb: Glenview,IL

Glenview.
A price index for single-family homes in the 60625 zip code rose 0.4% through the end of June, according to Fiserv Inc.,

Acording To MLS

250 Single family homes sold in the past 6 month in Glenview, IL

range from $99,000.00-$1,800.000.00

Market Watch

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.

Curb appeal is more important now than ever before.
The report states that outdoor upgrades recoup more money than interior renovations.

 Click here to read more.

CHICAGOLAND REAL ESTATE MARKET JANUARY – APRIL 2010

In the first four months of 2010, the Chicagoland real estate market showed significant improvement over last year with gains in the number of homes sold and other key real estate metrics. More than 5.7 billion dollars of homes were sold throughout the region with an average MLS sale price of $227,708, which is very near the average sale price one year ago.

MARKET VELOCITY COMPARED TO 2009

The market continues to absorb inventory, with the numbers of months’ supply dipping well below nine months in April, after climbing above twenty months at the beginning of last year. The number of homes for sale in April increased slightly from the previous month, while the average market time continues to shorten. The number of units sold was 43 percent above April 2009, with a corresponding 49 percent increase in dollar volume.

The positive trend is likely to continue, as the number of contracts remains strong. In April, pending sales reached their highest point in two years, with written business nearly double that of April 2009.

MORTGAGE UPDATE – RATES REMAIN NEAR 5%

Rates for 30 year fixed loans stayed near five percent throughout the month of April briefly increasing to 5.21 percent, then declining for three weeks to 5.00 percent for the week ending 5/6/2010. Attractive loan rates continue to be a strong factor for both move-up and new buyers, along with increased affordability and a wide selection of homes.

KOENIG & STREY

There is a tremendous amount of activity at Koenig & Strey Real Living. We are launching our new branding and identity while doing an exceptional volume of business. With a 66 percent increase in the number of homes sold in 2010, we are performing well above the 40 percent increase in the rest of the Chicagoland market.

If you are looking to buy or sell your Chicagoland Home, look no further. Marina Jacobson of Koenig & Strey can help you with all of your Real Estate needs. We use inovative marketing online to find you your dream home and when listing your home we make sure you home is on top of the market. Call me, Marina Jacobson 847-510-5009 or email me Marina@MarinaJacobsonHomes.com for more information on buyer or seller a Chicagoland Home. Visit MarinaJacobsonHomes.com for all of your Real Estate needs.

New Short Sale Guidance

To make it more attractive for the services to accept a sale on defaulted properties for less than the outstanding mortgage balance, the US  Treasury is offering incentive payments of $1,000 per completed short sale. Services will also receive $1,000 for each deed-in-lieu of foreclosure.  Read More…

If you owe more than your house is worth and can’t afford your payments, you might be able   to

sell  it for less than you owe — without having to pay the lender the difference.

Click Here for More Information

]]> http://www.marinajacobsonhomes.com/use-a-short-sale-to-escape-foreclosure/feed 0 http://www.marinajacobsonhomes.com/chicagoland-quarterly-housing-report-glenview-northbrook-morton-grove-skokie-chicago-market-update http://www.marinajacobsonhomes.com/chicagoland-quarterly-housing-report-glenview-northbrook-morton-grove-skokie-chicago-market-update#comments Sat, 26 Sep 2009 14:42:00 +0000 Marina http://www.marinajacobsonhomes.com/?p=627 Chicago and Surrounding Suburbs comparing the current quarter sales statics this year to last year at the same time.  Detached Property Report in PDF  This report is very comprehensive and will give you the same information that the lenders are using in making new loans today.  Attached Property Report Please do take some time and look this over and call me if you have any questions.

Source: Washington Post Writers Group, Kenneth R. Harney (08/22/2009)