Real Estate Buyer Information and Tools

Moving from the City of Chicago to the Chicago Suburbs

You graduated from college and moved straight to the Chicago. You get your first condo and from there you have decided fairly quickly that you will live in that beautiful city of Chicago for the rest of your life. I mean, you have amazing food, bars and culture at your finger tips. This is a world class city! No way you are going anywhere.

Then you meet someone. You and that someone get married. You and that someone are loving your life in that wonderful city of Chicago. You have great friends, you have all of your restaurant spots that no one else knows about. This is your city.

And then…..you and that someone have child.

Game changer.

Your little bundle requires energy and space. Now 1000 sq ft of space and a 3rd floor walk-up no longer work. Now you are having thoughts of large backyards and basements.

We aren’t judging you. Your life has changed and you need to adjust. Moving to the Chicago suburbs can be a lot of change but at the end will truly be a wonderful experience. If you are not sure which suburb you want to move to, here are some things you might want to consider.

1) The Village/Town’s Downtown area

There are several suburban towns that have really fabulous downtown areas that offer their own flavor with great shopping, services and restaurants. It might not be the city of Chicago but some of these downtowns offer exciting events throughout the year and become really great places for date night, to run and grab a cup of coffee or do some quick shopping.

Some of the more obvious towns that have great downtown areas are Evanston, Willamette and Highland Park. Some towns that aren’t as well known for downtown areas but should be are Libertyville, Barrington and Arlington Heights.

2) Open Space/Square Footage

Now that you are leaving the city, you could be looking at a nice increase in square footage of living space. The general rule is the farther you get away from the city, the more bang for your buck. You will pay more to live in Evanston than Buffalo Grove. There are some areas that feel less like the suburbs and almost more rural and homes typically have even more acreage such as Long Grove and Hawthorne Woods. Are you on a budget and really want newer construction and square footage? You might want to go even farther north to Grayslake/Gurnee area.

3) Metra Stops

Lot’s of people commute to Chicago and it is no secret that traffic into the city is horrendous. Several towns have Metra stops that make getting to the city a breeze. Deerfield, Libertyville, Highland Park and Arlington Heights all have Metra stops that has several trains going back and forth from the city throughout the day.

4) Activities and Amenities

In your research for which suburb to choose, check out the park and rec sites to see what type of activities are offered. Do a yelp search to see what type of activities, shops and restaurants are in the area. It will give you a nice snap shop of what to expect from the area.

If you are thinking about looking to buying a home in the Northern and/or Northwestern suburbs of Chicago, we understand how much thought and energy will go into this decision. Anne Kaplan and her team has been selling homes for over 30 years in the suburbs of Chicago and will do what it takes to help you find your perfect home. We believe in giving our clients highly personalized attention and will be with you every step of the way.

Give Anne Kaplan a call at 847-401-7904 or email at akaplan890@gmail.com.

Local Farmers Markets

As a self admitted foodie, I am a sucker for a good farmer’s market. In the past few years, the suburbs of Chicago have been adding farmer’s markets throughout. With great produce venders and many purveyors of all things tasty and homemade, you can find only the freshest ingredients. Needless to say, you will know where to find me on weekend mornings during June through October. Libertyville, Deerfield, Long Grove, Hawthorne Woods, Vernon Hills and Buffalo Grove all have wonderful farmers markets worth checking out. Check out the schedule and I hope to see you there!

Buffalo Grove Farmers Market
Sundays 8 am – 12:30 pm
Mike Ryko Park, 951 McHenry Rd.

Long Grove Farmers Market
Sundays 9:00 am. – 1:00 pm
Archer Road adjacent to Archer parking lot

Vernon Hills French Market
Saturdays 8 am – 1 pm
Vernon Hills Metra station parking lot

Hawthorne Woods Farmers Market
Fridays 4:30 pm – 8:00 pm
Community Park

Libertyville Farmers Market
Thursdays 7:00 am – 1:00 pm
W Church Street next to Cork Park

Deerfield Farmers Market
Saturdays 7:00 am – 12:30 pm
Metra Commuter Lot at Deerfield Rd.

Farmers markets run early June – mid October

To Buy or to Rent…That is the Question!

To buy or to rent? That really is the million dollar question. Maybe you were thinking about buying a house for $600K, but then found a fabulous apartment to rent for $2500 a month. What should you do? If you buy, then you will be investing but you could also lose money if the bubble bursts or you might make out better if you just rent!

Well, our friends over at the NewYork Times nailed it. They have taken just about every consideration one would take in buying versus renting, mashed up the data in their data masher 3000 and created a calculator that compares the numbers for you. Guess work it gone. I spent what felt like hours throwing out different number variables and the results are pretty impressive. Click on the link below and have some some fun.

Is It Better to Rent or Buy?

5 Tips for Homebuyers

It is happening. You are throwing your hat into the ring and buying a house. Before you go all in, there are several things to consider in order to make sure you get the house that you want. Here are five things to consider when buying a house in 2014.

1) Get pre approved

You might have heard this one already, but it is a must. Before you start your house hunting, get pre approved for a mortgage loan. This will save you the grief of looking at houses that you can’t afford. Pre approval will also put you in a better position when you are ready to make that serious offer. Don’t forget to do your homework. School yourself on junk fees, processing fees or points and make sure there aren’t any hidden costs in the loan. One more side note: pre-approval from a lender is based on actual income, debt and credit history whereas pre-qualification is simply a cursory review of finances.

2) There are ways to buy if you foreclosed

Not so long ago, America fell off the financial cliff and with that, our nation experienced record levels of foreclosures. Those that have gone through the process have been told that it will be a solid 7 years before they will be able to buy again. This might not be necessarily true for some. Fannie Mae, Freddie Mac and the FHA say that they actually only require a three year waiting period if you can prove that your bankruptcy was caused by extenuating circumstances. There are also several nonconforming lenders ourt there (often called “shadow bankers”) that will lend to you if you are willing and able to pay a large down payment and above-market interest rates. Finally, you might want to considered a lease-purchase option where you would pay your landlord a monthly premium over your rent to buy at a set price later.

3) Negotiate like a Jedi!

Think twice before putting in a low ball offer as the time of the low ball offers has passed us by. If a counteroffer comes your way, respond quickly. Expediency helps avoid offers from other buyers from entering the situation and henceforth, bidding wars. And, if the market allows, have a few homes in mind so you can be willing to move on if the price of the home moves quickly out of your comfort zone.

4) Don’t Try to Time the Market

Don’t try to anticipate the housing market as it is an (almost) impossible endeavor. Instead, know that they your best time to buy is when you find your perfect house at a price that you can afford. Bare in mind, real estate is cyclical. Up and down, up and down.

5) Know when you are making a decision based on emotion

Buying a house is a huge deal and often times emotions get wrapped up in the decision making process that we forget about the big picture. Letting your emotions get the best of you in the house buying process often leads to bad financial decisions and might lead you to bypassing the right house. Be mindful and focus in on your instincts. Your instincts will tell you when you are getting a good value for a house. Your emotions won’t notice value because they are too busy focusing on outdated fixtures in the bathroom. Stay grounded as this is one of the largest purchases you will ever make.

Now get out there and buy yourself a house! If you want to see what if available now, click here for an up to date home search.

And if you happen to be looking for one in the Northern Suburbs of Chicago, give me a call! Anne Kaplan 847-401-7904 or anne.kaplan@cbexchange.com. I’ve been in the real estate business for 30 years and will be there with you every step of the way.