Foreclosures Are Such a Deal - so why aren't people buying them????

The foreclosed home in my own complex that I wrote about in an earlier post is still on the market. The price was reduced by $10,000 on the 30th day of the listing. We're coming up on the second 30 day mark, and I wonder if the price will slide yet a second time. It's starting to look like the price point where the previous listing agent took the property when trying to sell it before the lender repossessed the house.

It's a huge bargain. Where are the buyers, I wonder? I strongly feel it is simply the national economy. People are very reluctant to take a chance on committing to a mortgage right now, fearful of job loss perhaps.

Or perhaps the buyers are assuming that mortgage money is impossible to get right now. Whoa!!! Let's put a stop to that misconception right here and now! The lenders whom I trust tell me that they certainly DO have mortgage money to lend, as long as the buyer(s) is/are qualified to take the loan. What is qualified? Decent FICO scores (vary according to the type of loan being considered) and decent debt ratios. Talk to a responsible mortgage lender for details.

And the rates today for conventional loans has dipped to 5.6%, and FHA loan rates are 5.8%. And FHA requires only 3% downpayment until January '09, and then it goes up to 3.5%.

This is still a fantastic time to purchase a home. No doubt about it. Wish I needed to buy something myself right now!

A Foreclosure Close to Home

Foreclosure is a word we hear every day in the news, and we Realtors certainly have to speak the word far more often than we wish we had to these days.

I have shown clients many foreclosed properties this year, and I have seen firsthand the effects of foreclosure on the house itself, and its neighborhood. It isn't pretty.

And foreclosure hit very close to me this summer when a property in my townhome community fell into foreclosure and was finally auctioned off. To describe the process could be lengthy, and it might be boring to read. But I want to simply tell you, the reader, how quickly and how brutally a homeowner's world can come to an end, at the auction.

I attended the auction of the townhome in my community, along with my homeowner association president, on a September morning in Chicago's Loop. (Please click on the link below to read about the company that conducts these auctions, Judicial Sales Corporation.) We rode up the elevator in a lovely office building on Wacker Drive and exited at the correct floor, and were guided into a small meeting room. It was set up with some 40 folding chairs for visitors to the auction. At the front of the room sat the auctioneer, with an assistant or two who acted as runners, carrying file folders back and forth into the private offices of Judicial Sales Corporation. The HOA president and I knew our neighbor's property was to be auctioned at 10 am. We were seated by 10 am and waited for the proceedings to begin.

Every visitor was handed a list of the properties to be auctioned that week. Some 250 properties every single day were scheduled to be auctioned. They were handled in no particular order, so if the visitor was there to observe or to try to buy a specific property, you did not dare leave the room because each property is dealt with in less than 30 seconds. That's right, 30 SECONDS.

The auctioneer picks up a file folder, reads off the court case number, the property address, and the "opening bid." (The bid is actually the dollar amount that the court has awarded the mortgage lender who is left with a property and nobody to pay the mortgage for it. In most of the cases, the lender wins the auction, because nobody else wants to bid on it.) The auctioneer asks "Do I hear any other bids?" She waits about 5 seconds, and then says "going once, going twice, sold." She makes some notations on the file, closes it up, and hands it to her assistant, and it's over with. Done. Somebody just lost his or her home.

The particular frustration that my homeowner association president and I felt that morning was that our neighbor's house did not rise to the top of the file folder pile before the auctioneer looked at her watch, said "Well, it's 10:45 am now, time for a break. We'll start again at 2 pm this afternoon." WHAT???? 2 pm?? Neither of us could be back at 2 pm that day, so we did not actually get to witness the end of our ex neighbor's homeownership. But it was an enlightening experience, none the less. In our neighbor's case, the lender won the auction (body else bid on it), and now it has been listed for sale with a broker who deals rather exclusively in foreclosures.

The ins and outs of foreclosure are deep and complex. I plan to write about it from time to time, but in small chunks so as not to overwhelm OR to bore the reader. But just let me say that foreclosure is a very sad thing, for everyone around the home is touched by it in a negative way. If you are facing problems in paying your mortgage, or know someone who is, please contact that lender right away, or an attorney who specializes in foreclosure situations so that you can save as much of the situation as possible. Going into a foreclosure without a good legal adviser will cause you even more harm. Minimize the damage. Get help, please. I can provide names of attorneys who work in this field, and the cost of their services is minimal compared the loss incurred by the homeowner who tries to navigate the process alone.

http://www.tjsc.com/TJSCHome.htm

ARE MORTGAGES ALIVE IN CHICAGOLAND?

Times are uncertain, no doubt. We are all watching the stock market every day and groaning, watching the Congress actions and the US Treasury Department actions as they attempt to turn our credit market around.

And the underlying question still remains: can you still get a mortgage loan?

Yes.

You betcha!

I check every few days with my in-house mortgage specialist on this very question. Today she said "Absolutely there is mortgage money available." If the borrower is qualified for the loan, the loan can be had. The interest rates are still historically low, including conventional (around 6.25%), FHA (3% downpayment!), and jumbo (5.5% for a 5/1 ARM - wow!).

Waiting for the home prices to fall further before you buy? That's what so many buyers are telling their Realtors lately. But that begs the question: "When will the prices hit bottom? And how will you KNOW that they are at the bottom? And what will the loan interest rates be when the bottom comes - at today's rates, or higher, or lower?" Nobody has that crystal ball to tell us how to "time" a real estate purchase. In the long run, real estate has always been a good investment over time. The benefits of home ownership can far outweigh the difference of a few dollars every month in a mortgage payment for a home purchased at one price versus another.

Have you delayed making a home purchase this year? Have your friends delayed a purchase? Let me know what you are thinking, how the current state of affairs has molded your decision.

GETTING OUT THE VOTE IN 2008 - REGISTER BY OCTOBER 7

This year's presidential election has everyone's attention. Please make sure that you are eligible to vote, and that you are on the voter registration rolls. You can follow the link embedded below to start the registration process for yourself. Although I live in Cook County, I do not heed the mantra of "Vote Early, Vote Often." I suggest that one person/one vote is the best path to follow. :-)

The last day to register for the November elections is Tuesday, October 7. If you have never registered, or if you have moved or if you have changed your name since you last registered, please click here to register. Complete this form and mail to the appropriate address below.

Cook County residents should mail the completed form to:Cook County Clerk69 West Washington, Room 500Chicago, Illinois 60602

Lake County residents should mail the completed form to:Lake County Clerk18 North County Street, Room 101Waukegan, Illinois 60085

CLIENTS ARE SOMETIMES , UM, FURRY

One of the more interesting assignments that I can accept is to help a family move into my area from another state. It's not just about finding the right abode for the family; it's educating the family about the various communities from which to choose, where services are located, and where the closest doggie beach can be found. Luckily for my most recent out-of-state clients, they chose to purchase a home in Evanston, which boasts a very popular doggie beach along Lake Michigan. Meet their best buddy Herschel (in the photo), who lost no time in getting his beach pass so that he could romp and splash with his new friends at the lake. "Two paws up" is Herschel's approval rating of Evanston's doggie beach, according to his mom.

Got Radon? Now part of a home sale

Another piece of paper will be added to the home sale transaction, beginning January 1, 2008. The Illinois state legislature has mandated that any home sale contract dated January 1, 2008 and beyond must be accompanied by a radon disclosure provided by the seller to the purchaser. In a similar fashion to the existing lead paint disclosure requirement, the seller(s) must attest to their knowledge of the existence of radon gas in the property being sold. The disclosure form and a pamphlet explaining the reasons for concern about radon gas in homes has been issued for use by real estate professionals just this week.

Radon has been identified as a health risk, and some communities in the Chicagoland area seem to have more of a problem with radon than others. Your local real estate agent should be able to discuss the radon concern with you, and provide the required disclosures and pamphlet to every seller. To learn more about the radon risk and our state's new requirements surrounding a home sale, visit this website: http://www.radon.illinois.gov/availpub.asp

or

phone 1-800-325-1245.

Coincidentally, a recent episode of the television program "Extreme Makeover: Home Edition" told the story of a family whose home was filled with the dangerous radon gas.

Making the home buying process a little safer for everyone is the goal; raising awareness of radon is part of the solution.

ARM Loan Due to Reset Soon? Check This Out!

There will be unprecedented numbers of ARM loans due to reset in 2008. Is your home loan among them? Regardless of your home town, free help is on the way from the Illinois Department of Housing Authority. This free session should be on your calendar:


Chicago
Saturday, December 8, 9AM -2PM
Wright College
4300 North Narragansett
Chicago, Illinois 60634

Representatives from the following companies will be there to discuss and assist homeowners who are concerned about their mortgage situation:

FIFTH THIRD BANK
HARRIS BANK
ELITE MORTGAGE SOLUTIONS
WELLS FARGO
CITI

Chicago dweller? Evanston? Buffalo Grove? Schaumburg? Winnetka? Wilmette? Highland Park? You're all in good company. Head on down to the IDHA seminar.

Time to Buy a Home? You Bet!!

My in-house mortgage specialist was smiling yesterday when he informed me about the latest mortgage rates that dropped within the past 2 days. It is so encouraging to know that rates are STILL at an historical low point:

For "conventional" loan amounts (under $417,000)
30 year fixed is 6.25%
15 year fixed is 5.875%

3/1 ARM is 5.625
5/1 ARM is 5.875

For "jumbo" loans (over $417,000)
30 year fixed is 6.875%
15 year fixed is 6.50%

3/1 ARM is 6.00%
5/1 ARM is 6.125%

This is truly exciting information for you if buying a property is in your immediate future. With a good credit score, the mortgage money is a bargain. Don't hesitate, jump in and find a terrific home at a terrific price, with terrific financing! It's a triple play, if you would think of it that way: selection, price, and financing.

California fires - victim relief

The horrific events in California strike at the heart of every American's soul. Losing your home or business to such a terrifying event seems unimaginable. Please consider making a donation to the American Red Cross to help our California neighbors who are in crisis.

http://www.redcross.org/donate/donate.html

MEDIA, MEDIA, GO AWAY, COME AGAIN SOME OTHER DAY!

It seems EVERYBODY wants to talk about the real estate market "crisis" as soon as they see my realtor name tag on my jacket. The newspapers and television news is covering the so-called market crisis on a routine basis. Today was no exception. I had a first meeting with a great couple who are starting to pursue their first home purchase. They had few questions, but the first one was "so what about this real estate market crisis - is it "ok" for us to make a purchase at this time?"

The answer is "yes," this is a good time to buy in our Chicagoland market. The primary reasons for that answer are this: our Chicagoland economy is basically very sound, our home valuations have risen gradually over time (not fueled to a frenzied pace by investor buying), and mortgage money is still relatively cheap.

Sure, the market has cooled down, and home values have stopped soaring by 5-8% every year. But buyers and sellers are still signing contracts and closing transactions, but simply at a slower pace than the frantic pace that we experienced between 2000 and 2005.

Mortgage availability? Easy, as long as the buyer(s) have a good credit score, good debt ratios, and can verify income. Yes, the subprime mortgage market has done a major melt-down, blocking some buyers from entering the real estate market. But as we have seen, those sub-prime loans were largely granted to buyers who did not have the income to support the mortgage payments. No home buyer is well served by being granted a loan that they cannot afford. And that goes for the so-called "jumbo" loans as well (loans made for any amount over $417,000).

Talk to a great agent if you want to purchase a home (or sell a home), and talk to a trusted mortgage specialist about getting the financing you might need. With the right professional assistance, buyers and sellers are still coming together and getting people what they need: a closed transaction. In the past 30 days, no fewer than 27 homes were under contract within 30 days of going on the market on the North Shore alone. And one has already closed!

Agents and Home Inspectors

As a Realtor racks up more than a handful of transactions, he/she becomes aware that there are many breeds of home inspectors in the field (just as there are many breeds of real estate agents, of course!).

Home inspectors should aim for a network of appreciative agents (buyer and seller agents alike), who can be looked upon as a source of ongoing client referrals. Makes sense; every hard working business owner wants constant referrals to keep the bottom line healthy. So why do some home inspectors make it HARD to recommend them?

One home inspector that my buyer client employed managed to test the patience of this agent, and the home seller as well. I actually had to experience not one, but two inspections by this same inspector because my client went under contract on two different properties before a successful conclusion of his desired transaction.

What was the problem, you might ask? Time. That inspector took no less than 4 1/2 hours at each property. The time was not simply reviewing every nut and bolt in the property; that I might at least understand. The time was spent largely in explaining, in a never-ending stream of consciousness, every component and system in the house to the buyer, how everything works, thorough instruction on maintenance of those components and systems, going well beyond what the intent of the home inspection provision as stated in the current area multi-board contract. The current boilerplate contract states "The home inspection shall cover only major components of the Real Estate, including but not limited to, central heating system(s), central cooling system(s), plumbing and well system, electrical system, roof, walls, windows, ceilings, floors, appliances and foundation. A major component shall be deemed to be in operating condition if it performs the function for which it is intended, regardless of age, and does not constitute a threat to health or safety." So, the buyer is guaranteed the right to gain assurance that major components are operating properly. Period.

If a buyer wants a deeper understanding of HOW the central humidifier works, for example, it would be appropriate to seek out a home-buyer workshop on "How to Maintain Your New Home Purchase" or perhaps read up about a component online, or borrow a book from the library, or or or or.....

In one instance I had to continually reassure the home SELLER, who was being polite by staying outside on his screened porch so the buyer could follow the inspector in privacy on a very cold day, that the inspector was "almost done", over and over. I have heard a story from another agent that she once witnessed a home inspection that went on for some eight (that's 8) hours, in a very small property.

And recently I have had the opportunity to correct blatantly incorrect information stated in the inspector's report to the home buyer. Such as (I am paraphrasing here) "The screen insert is missing for the kitchen storm door...should be replaced..." After the inspector left the property, I went into the attic, where the inspector had also been, picked up the screen insert that was leaning against the wall in plain sight, brought it into the kitchen, checked the screen insert for fit with the storm door, and promptly emailed the buyer's agent that I have placed the reportedly missing screen insert in the kitchen for the buyer to utilize as desired. This same inspector stated in the written report that carbon monoxide detectors were missing, and must be placed in the home, per the 2007 Illinois requirement. Once again, I emailed the buyer's agent to state that indeed there WAS a CO detector mounted just outside the bedroom doors (in compliance with the law), and said detector was functioning, evidenced by the digital readout face. Conversely, this same inspector missed a couple obvious flaws in the property that I would have wanted disclosed, if I had been the buyer agent.

It takes many people, specializing in varied professions, to take a property transaction from start to finish. Home inspectors are an important link in that transaction chain. Home buyers need to employ an inspector who will take care to do a fine job on the inspection. But the key word here is "INSPECTION." The home inspector should INSPECT, not LECTURE, and not hand out incorrect information. Do a good job, get more referrals.

What Can a Realtor Do to Sell a Property?

In my last post, I mentioned the activity called "reverse prospecting." What is it? As a licensed agent who subscribes to the two local multiple listing services, I have the ability to identify other agents who have registered buyer clients who are a potential match for my listings.

I cannot read the identity of the buyer client, but I can read the name and contact information of the agent who is working with that buyer client; this is done through the MLS software. In this slower moving market, it is definitely a benefit to my seller client to be able to place a phone call to each of those listed agents, and draw their attention to the listing I am trying to sell.

When I am searching for a property for a buyer client, I am diligent in reviewing the MLS several times a day for new listings, and consider every single one with careful scrutiny. But guess what! Not all agents do this, take these extra steps to find the right property for their clients. So it is really important for a listing agent to make those phone calls to agents who might have the perfect buyer in their portfolio of clients.

A personal phone call will not only engage the buyer agent in conversation about the fact the listing EXISTS, but it can also answer questions about the property, clear up any misunderstandings about the listing, and otherwise eliminate objections to the property: "Doesn't that condo building forbid pets?" "That used to be the case, but two years ago the Board of Directors changed the by-laws, and now cats and small dogs are allowed!" "Wow, that's great news! My buyer client has a cat. I'll bet she would love to see the unit. When can we see it?" Not only have I aroused interest for my seller's property, I have alerted a buyer agent to a listing that might be his/her client's perfect next home.

And so, a showing! And maybe a buyer willing to make an offer to purchase! And all it took was a phone call. Enough said.

Elm Tree Village sales in 2007 - tough!

There is a unique and lovely townhouse complex in south Evanston called Elm Tree Village. Built in the mid-1950's, this collection of 36, 2 bed/1 bath red brick homes covers the length of an entire city block, from Washington south to Cleveland, along Dodge Avenue.

It is not unusual to see anywhere from 2-5 of these units to change hands in a year. But to experience 5 of them all on the market simultaneously? Wow. Each seller has a very different reason to be selling: one is relocating to Wisconsin to enter a graduate program at the University in Madison, another is moving to northern Illinois to be closer to the workplace, yet another is moving within the complex to gain the advantage of an updated kitchen and bathroom!

The significance of this glut of units for sale is this: the small pool of buyers who are interested in this type of property will pick off first one of these units, and waiting for the next buyer to step in and make an offer could potentially take many more weeks, if not months, given the slow market we are experiencing. Each of the units has its advantages and disadvantages, and each buyer will perceive those units very differently, depending on their preferences for end unit vs. being a "sandwich," updated kitchen and bath vs. original equipment, etc.

The somewhat happen ending is that suddenly, 3 of the 5 are under contract. The first one to go (contract dated June 12) was a surprise, imho, to most agents. The next contract did not happen until July 5, and then quickly another one on July 6.

Getting a home sold under these circumstances takes extra diligence; I worked the reverse prospecting tool very hard, stirring up energy and interest in my listing among the 5. Ultimately, it was the networking that paid off, bringing in a buyer.

More topics for another day.

Real estate is not simply buying or selling properties

I had a fun afternoon today, helping a client search for just the "right" condo or apartment to rent for awhile. The search is focused in Chicago's Loop area, which means investigating numerous hi-rise buildings with varying amenities.

Yes, licensed real estate agents can help a client with a rental property, either to list the property in the multiple listing service, or to work on behalf of a would-be tenant. As a listing agent, the compensation for handling the rental process is typically the equivalent of one month's rent. As the tenant's agent, compensation is paid out by the listing broker. The client pays nothing for a Realtor's assistance in finding the right rental home.

We are in Chicagoland, which means there is a huge offering of rentals on the internet, particularly CraigsList.com. Often we find that Craigs List provides larger numbers of rentals than does the MLS. I always advise a client to search Craigs List, in addition to having me arrange suitable rental property appointments.

Choosing the best rental property for a client might involve coaching that client to go down a mental checklist of features and benefits that sometimes parallels a home purchase, sometimes not. In the case of hi-rise buildings in Chicago's Loop, considerations are these: 1) location - does this address give you easy access to your daily activities; 2) car parking - do you have a car, and if so where will you park it, and what price will you expect to pay to park this car; 3) monthly rental fee - can you afford it!!?; 4) VIEW VIEW VIEW - Chicago means Lake Michigan for preferred views from a unit's windows (no lake view? thumbs down!); 5) condition of the unit - are the kitchen and bathroom updated? Walls painted? Carpet clean?

My client found a perfect place to rent today, and was confident the moment we walked in the front door of the unit. This confidence came from having viewed many other units over the past several days, giving a basis for comparison. When this perfect place was revealed to us today, we knew it was "the one." Everything was right: location, price, views (this is a corner unit with lots of sunlight and attractive things to watch out the windows, not just the rooftops of neighboring buildings), good general condition, etc. We pounced on it immediately, got an application form and lease from the listing agent, and expect to tie down the lease tomorrow.

Client happy. Realtor happy. Job done.

Movin With Susan: So... How's the Market Doing?

Movin With Susan: So... How's the Market Doing?

HUH?

Here is one creative seller! I received an internet "lead" in my email today, a lead which comes to me from a MLS listing I have posted on the national Realtor.com website.

The "lead" I received, which is intended to put a person in touch with me because they saw my property listing and want either to purchase that property, or otherwise ask me to assist in a purchase or a sale of their own property with the aid of a Realtor.

When I opened this email, I found it was a solicitation from a private condo owner to bring her a buyer for her property. This condo IS listed on the local MLS with a local brokerage, a brokerage that is known to be a "discount" broker. I find it very curious that this owner/seller is now putting in obviously considerable time to market her condo, despite being listed with a broker in the MLS. Think I'll give her a call!

When the Owner Sets the Price

Ok, it's not a science, pricing a home correctly to sell.

But it IS an art! An art based on careful analysis of "comps" and knowledge of the market trends, pertinent community information, the exterior and interior decoration/staging, etc.

When a homeowner decides to sell his/her home without representation by a real estate agent and sets the price for the public to consider, the result is usually a vastly overpriced home. Heck, even agents who have their OWN home to sell tend to set the price way too high to start with. We can't help it - it's our own castle we're talkin' about here! ;-)

And FSBO (for-sale-by-owner) sellers are not only those folks who have a sign stuck in the front yard that they purchased at the local hardware store. These sellers also might choose a high profile internet-based FSBO service, or one of many so-called discount brokers to get their home entered into the local MLS.

The FSBO discussion is a large topic, not to be even skimmed over in this post. Suffice it to say, if the home is overpriced, it won't sell. And what's the point? I have personally watched a homeowner in my own neighbor try to sell his home for over a year now. He first tried selling with an internet FSBO service all last summer and fall. He is back on the market this spring with a real estate broker, but still vastly overpriced. I know this gentleman wants and needs to sell the property, but I also know he won't get what he is asking. The homeowner is wasting precious market time, the broker he has listed the property with is spinning his wheels trying to sell a property that won't sell at anything close to the list price.

Sellers, the message is this: The buying public won't pay you what you think you NEED to get for your home. The buyer does not CARE what you need to get from the sale. The buyer will only pay you what the correct market value of the house is, or LESS, depending on how desperate the seller becomes. Price it right, the first day on the market, and find your buyer quickly!

What is "the closing"????

Somebody has a home to sell. Somebody wants to buy it. The stage is set!

The usual process goes like this: buyer writes a contract offer to purchase, the offer is negotiated, eventually the buyer and seller agree on all terms and conditions (or not!), perhaps some "earnest money" is deposited on account by the buyer, home inspection happens, attorneys for both sides hammer out the fine points, and .... Ta Da!!... this thing called "the closing" appears on everyone's calendar. What is it? Who attends? What happens? When?

In truth, quite a bit happens at the closing, but in keeping with the spirit of good blogging, I'll keep this brief.

The buyer and the seller (or their legal representatives) sit down with a title company officer ("the closer") to finalize the transfer of the property. Mortgage documents are signed and faxed to the lender, any monies that are pertinent to the transaction are accounted for on the "HUD-1" (otherwise known as the RESPA form), any past-due accounts on the property are verified as satisfied (property taxes, liens, special assessments, condo assessments, etc.), the "closer" asserts all the documents are correct and the money columns balance for the transaction, approves the deal, and suddenly thousands, maybe hundreds of thousands of dollars, or a few million dollars (houses can be costly in Chicagoland) suddenly fly around the closing table. The mortgage company gives the buyer his/her loan dollars, the buyer gives the seller his/her funds to purchase the property, the attorneys get their fee, the Realtors for both sides take home commission checks to their brokerage, the title company collects its fee,...

If any of these pieces do not fall property into place, the closing is blocked from its normal conclusion. And any seasoned real estate agent can tell you, that is one stressful situation. Every person involved in the transaction has a lot riding on the closing, not the least of which is the property transfer. If the deal does not close, somebody might not have a place to sleep that night (buyer or seller), moving company plans are blown off track, the subsequent closing for the seller might be delayed because they seller does not have the funds to close on their new property they planned to close on that same day. You get the picture.

Extreme preparation and cooperation is key in making a closing happen according to plan. If you have never purchased a property before, take heed, follow your lender's instructions, your attorney's instructions, and your agent's instructions. Or be prepared for a very troubling episode.

Some Fun This Weekend

Summer in Chicagoland - so many opportunities to have some fun with family or friends, or just by yourself!

The headliner for this weekend is probably the Printers Row Book Fair, an outdoor affair that centers around South Dearborn in Chicago, between Congress Boulevard and Polk. Admission is free, but some events with special guests require a free ticket (http://www.printersrowbookfair.org/). With some famous guests whose names appear on world-class literature like Sara Paretsky and Joyce Carol Oates and Studs Terkel, you just can't stay away. Something for everybody, including special events for the kids. The weather for Saturday and Sunday promises to be sunny, around 80 degrees both days. Be green, take public transportation, and enjoy!

So... How's the Market Doing?

Time to take a look back at the month of May on the North Shore where my Baird & Warner office is located. I thought it would be interesting to see how many properties came on the market in May (defined as a listing date between May 1 and May 31), and how many of them are already under contract (or perhaps even closed!) This is just a quick snapshot, covering the broad spectrum of property offerings: new construction, resale, a cancelled/new listing situation (ask your friendly realtor what that means!), etc. Generally speaking, it seems there is plenty of buying opportunity on the North Shore.

ROLL CALL:
Single family/ condo or townhome
(# under contract or closed) (# under contract/closed)

EVANSTON 107/ 193
(24, or 22.4%)/ (27, or 13.9%)

WILMETTE 84/ 4
(15, or 17.8%)/ (0)

KENILWORTH 4/ 0
(1, or 25%)/ (0)

WINNETKA 45/ 1
(8, or 17.7%)/ (0)

GLENCOE 26/ 5
(5, or 19.2%)/ (2, or 40%)

These numbers are gathered from the Multiple Listing Service of Northern Illinois.