Will Tveit - Real Estate | My Blog - Market Conditions | willtveit.com - dreamtown

Recently, I've been asked by friends, prospects, and acquaintances, as well as former and current clients about our current market, specifically what's going on?  Well, folks, we seem to be entering a buyer's market. To better understand this market, let's first look at the current real estate conditions: 1. Prices at all-time highs For the past several years, home prices grew at twice the rate of inflation and faster than incomes. Not surprisingly, we are now at record price levels. However, price growth has definitely been slowing over the past several months. And we're even seeing some softness in the market, with an increasing number of price cuts. 2. Mortgage rates rising The current 30-year fixed mortgage rate stands at 4.63%. That's almost a 1% increase over just a year ago and the highest level we've seen since 2011. 3. Dropping affordability and demand Combined with current high prices, the rise in mortgage rates is causing a decrease in affordability. Earlier in the year, affordability was estimated to be at a 10-year low. Not surprisingly, this is having an effect on demand, with mortgage applications down 16% over last year. When these factors are viewed together, there appears to be a fundamental shift in the market. Home price growth is slowing, and home prices might eventually start to decrease. Mortgage rates are expected to continue to grow. And if that happens, we will slowly but surely enter a market where buyers, not sellers, have the final say. So what does this mean for you? Well, if you're looking to sell, it means the time to act is now. Around Chicago, I still see a lot of demand for homes. However, over the next several months, it's likely that national trends will catch up with us here in the Chicago area as well. The good news is, you have an opportunity to act before this happens. If you decide to list your home this winter, you might benefit from the current high prices as well as the solid demand around Chicago. In other words, you could sell quickly and for top value. In case you’re considering it, you can get more info on what your home is currently worth by filling out this home evaluation form: Enter your home address here to find out what your home is currently worth And if you are ready to get the process rolling while this opportune moment still lasts, give me a call. I'm here to help. Have a great day, Will Tveit | MBA - Broker - Realtor Dream Town Realty | Chicago & North Shore

Real Estate News from Will Tveit | Realtor - dreamtown

Spring 2019 REAL ESTATE NEWS Brought to you by 2019's Hottest Home Decor By Barbara Pronin Comfort is trending for 2019, a consensus of home decorators agree, with more people seeking warm colors, intimate spaces, and a casual but sophisticated lifestyle. Designers looking to pair physical coziness with emotional comfort forecast seven decor trends: Scaled down furnishings - After years of favoring large furniture and open spaces, consumers are aiming for a ‘nesting’ environment and choosing smaller pieces arranged in more intimate settings. Wall coverings - The return to traditionalism brings with it a return to wallpaper, fabric wall coverings and murals. Expect to see plenty of rich shades of green in fabric and wallpaper patterns. Color changes - While blues and indigos have been huge in recent years, green is the new blue for 2019 and is likely to be used in everything from upholstery patterns to kitchen furnishings. Color ‘pops’ - People are ditching beige minimalism in favor of fun colors, especially in family-friendly spaces. Yellow is the hottest color for small accent pieces–from ceramics to lamps to sofa pillows. Warm woods and traditional styles - Antiques and even second-hand items are having their moment again, with consumers looking for skirted tables, wooden chests and other wood pieces with a sense of history. Indoor and outdoor fireplaces - The coziness trend favors indoor fireplaces, working or not, with homey hearths as a nice spot to gather. Outdoors, fireplaces are preserving the joy of summertime barbecues. Crafts and artisanal accents - In a world of increasing mass production, there has been a shift back to artisanal and boutique choices in pillows, wall hangings, quilts and other accent pieces all around the home. How to Reduce Your Home's Carbon Footprint You may work to reduce your personal carbon footprint by driving less and recycling, but do you consider the footprint of your home? Here are some tips to make your home and your wallet a little greener. Buy efficient appliances. Appliances are getting more efficient every year, and some have better energy and water-use ratings than others. The energy rating of an appliance is easy to find and can be a great guide for those looking to reduce their electricity and water consumption. Install low-use fixtures. Shower heads, toilets, faucets, and other fixtures now come in models that use less water than others. These fixtures can lower a home's utility bill as well as reduce the amount of water a home uses. Plant a garden. Plants remove carbon dioxide and give off oxygen. Keeping a garden can help counteract your carbon output, provide a fun hobby and supply you with homegrown vegetables or beautiful flowers. Install a drip irrigation system so that plants get only the water they need. Landscape using climate-appropriate plants. Local plants are better adapted to the environment, are non-invasive to other species and require less water than outsiders.                                      ______________________ If you are thinking about buying and/or selling a home, contact your real estate expert, Will Tveit | Real Estate with Dream Town Realty first!  Will Tveit's direct number is 312.498.8348, and his email is Will@dreamtown.com. Also, feel free to check out Will Tveit | Real Estate's website at WillTveit.com.  For the best service and most fastidious attention to detail in Chicago and on the North Shore, contact Will Tveit | Realt Estate today!   🏡                                      ______________________ Will Tveit | MBA-Broker-Realtor Dream Town Realty | Chicago - North Shore 1567 Maple Ave., Evanston, IL 60201 mobile: 312.498.8348 | email: Will@dreamtown.com web: www.WillTveit.com | www.1640MapleEvanston.com

Just Listed - Skokie Split-Level Home | Will Tveit - Dream Town Realty

Rent or Own? willtveit.com | dreamtown

Should you rent or own?

🏠

Will Tveit |  MBA - Broker - Realtor - Agent

Dream Town Realty  |  Chicago  -  North Shore

1567 Maple Avenue, Evanston, Illinois 60201

willtveit.com | will@dreamtown.com | 312.498.8348

CHICAGO in FOCUS Photo Contest | Will Tveit - DreamTown 2017

 

 

We've launched our annual Chicago in Focus photo competition where you can submit your favorite Chicago photo to win up to $1,000! If you're interested in entering, check out dreamtown.com/contest.

Good luck!

WillTveit
312.498.8348 mobile
will@dreamtown.com

Tips for Home Sellers | WillTveit.com - dreamtown

Tips for Home Sellers

2017 Ravinia Schedule | Summer on the North Shore | willtveit.com - dreamtown

Will Tveit  | MBA - Broker - Realtor
Dream Town Realty Chicago & North Shore

will@dreamtown.com | www.willtveit.com

mobile.312.498.8348

Do your summer plans include a move in the real estate market? Give me a call!

Will Tveit 312.498.8348 will@dreamtown.com http://willtveit.com

Just Listed - Buffalo Grove, Illinois | willtveit.com - dreamtown

   |   JUST LISTED

106 COPPERWOOD DRIVE

4 BED   |   2.5 BATH   |   BUFFALO GROVE

$485,000

View our Virtual 3D Tour! Charming Old Farm Village, 4 bedrooms, 2 1/2 baths, Coventry Model home located in the highly rated Stevenson High School District. Updated gourmet kitchen with stainless appliances including Thermador gas range/grill, microwave, and electric double-oven, and built-in full-size GE Monogram refrigerator & freezer. Kitchen opens to family room with cozy fireplace. Sliding glass doors off the family room open to the beautiful large fenced backyard with a dog run and patio for barbecuing. Newer Bosch front-loading washer & dryer located on the second floor. Hardwoods throughout the first floor; carpeting throughout second floor and basement. Updated baths. Fenced back yard with sprinklers, newer roof. Finished basement with Rec Room and storage area.

• Updated Gourmet Kitchen with Granite Counters & Stainless Steel Appliances
• Kitchen Opens Into Family Room
• Large Fenced Backyard with Beautiful Patio & Dog Run
• Finished Basement with Rec. Room
• Located in Highly Rated Stevenson School District

WILL TVEIT

Broker - Realtor

312.498.8348

will@dreamtown.com

http://willtveit.com

Perennials for Year-Round Curb Appeal | WillTveit.com - Dream Town Realty

Plant Perennials for Year-Round Curb Appeal

Beautiful flowering plants not only increase your curb appeal, they can also increase the enjoyment you take in your own home and yard. While some sections of the country have challenges when it comes to maintaining a colorful yard all year, there is a solution that nearly anyone can benefit from perennials. Perennials are considered low-maintenance plants because once you plant them and they take root, they will “come back” year after year, for anywhere between two and 10 years. With perennials, it’s possible to plant a garden that shows color all year through. Technically speaking, trees and shrubs count as perennials, which is why we say that even people in colder climes can also enjoy the beauty of these hardy plants: think holly, viburnum and evergreen azalea. A blanket of snow can actually act as insulation for perennials, ensuring they’ll be back in full force the next year. The first season you put these plants into the ground is the most important to ensure a long life. You must care for them until their roots have time to establish. After that, flowering perennials do not need to be replanted each year; after their season ends, you can cut them back, water and mulch them, and wait for the next season to arrive. Like all plants, perennials need light, air, water, and nutrients. They are not completely maintenance-free! They do need to be watered, fertilized, weeded, and mulched, and eventually will need to be pruned and divided as well. When planting in the spring, perennials can go into the ground much sooner than delicate annuals. Perennials usually don’t suffer from frost damage, so technically you could plant them at any time of year as long as you can work the soil. Here are some basic guidelines to caring for perennials: In spring: Weed carefully, and rake debris and clean up the beds only after the temperature is sure not to dip again. Add a little fertilizer and a thin layer of fresh mulch. Some plants like chrysanthemums benefit from a light pruning, which helps them spread out and produce more buds. In summer: As summer progresses you'll need to complete a few maintenance tasks. Stake tall plants like delphiniums before they start to tilt. Deadheading can help plants bloom longer. Once they've turned completely brown, cut back plants to a couple of inches above the ground. In fall: Remove grass that's encroached on the flower beds. Weed and lay down mulch around perennials that were planted in the fall. Cut back the remaining plants that have finished flowering. In winter: There’s not much to do once it gets really cold. Enjoy your evergreens and any winter berries, and plan your spring planting! Of course, the types of plants that will grow well for you are impacted by the area of the country in which you live, your weather, and the amount of sun they receive. But for a relatively easy, beautiful garden, which ramps up your curb appeal and makes you want to spend lots of time outdoors, you can count on perennials. WillTveit.com | Buy - Sell - Invest Will@dreamtown.com | 312.498.8834

Co-op Apartments vs Condos | willtveit.com - dreamtown

REAL ESTATE: Chicago & North Shore

Co-op Apartments vs. Condos

	CO-OP APARTMENTS	CONDOS
Assessments	Co-op monthly assessments cover the same expenses as for condos (see right) plus 1/12th of the property taxes (see Property Taxes below) and any building mortgage (see Financing Special Projects below).	Condo monthly assessments cover expenses for staff, maintenance, reserves, and any utilities provided by the condo association.
Financing	Down payment requirements are higher for most co-ops in Chicago. A few require a minimum of only 20% down. Many allow 50% financing. Some are cash only.	The condo associations don't set minimum down payments.
Financing Special Projects	Co-ops are able to finance special projects via a mortgage for the building. In some circumstances, owners may be able to deduct their portion of the interest on that mortgage. Consult your accountant for details.	Condo associations are not able to mortgage the common elements of the building. If there is not enough money in the association's reserves, the association can have a special assessment paid by the owners.
Form of Ownership	Buyers purchase shares of the corporation that owns the co-op apartment building. A proprietary lease gives the buyers the right to occupy a specific apartment.	Buyers own their unit and become members of the condo association which owns the common elements.
Purchase Approval	After signing a contract to purchase a co-op apartment, buyers must submit to the co-op's board an application including financial information and letters of reference (both professional and personal). Buyers must also be interviewed by the co-op board. The focus of the approval process is on the buyer's ability to pay their monthly assessments since an inability to do so would put a financial burden on the rest of the co-op owners. The board must abide by Fair Housing Laws.	A very few condo associations reserve the right to approve buyers. Approval is much less involved than for a co-op, The association must abide by Fair Housing Laws. Some condo associations have the right of first refusal allowing them to purchase a condo, if they feel the price is too low.
Property Taxes	Since there is only one property tax bill for the entire apartment building, an owner's portion is paid to the co-op through the monthly assessment.	There is a property tax bill for each unit payable directly by the owner of the unit.
Renting Units	Most co-ops in Chicago do not allow apartments to be rented out. A few allow rentals on a limited basis such as a maximum of 2 years.	Many condos allow units to be rented out, but have rules such as the minimum length of leases. More condos in Chicago have been prohibiting rentals for new buyers recently.
Transfer Fees	A few co-ops charge a transfer fee of 1% to 3% of the sale price. This is in addition to Chicago's buyer transfer tax which is 0.0075% of the sale price.	Condos don't have transfer fees. As with co-ops Chicago's buyer transfer tax which is 0.0075% of the sale price applies.

OPEN HOUSE | New Construction | 1141 Darrow Ave, Evanston, IL 60201 | willtveit.com - dreamtown

OPEN HOUSE - Sunday, May 14, 2017, from 12 to 2 p.m.

1141 Darrow Avenue, Evanston, Illinois 60202

3 beds + 1 below grade  |  3.5 baths  |  $799,000

 New Construction! Gorgeous hardwood floors, open floor plan & lovely block in great location. Kitchen features white cabinets, glass backsplash, quartz counters, stainless steel appliances. Second floor with  laundry & 3 large bedrooms including master with stunning bath. Basement features 9 foot ceilings, wet bar, bedroom, office and HUGE recreation room. Must see!