https://www.youtube.com/watch?v=kcvxepIo0jw
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Hello Everyone, below you will find Real estate information that we think you'll find interesting.
The 2019 Real Estate Market has done well in NW Indiana and Illinois.
Here is some data to reflect that:
Town # of Homes Sold - Price per Finished Sq Ft
2018 2019
Schererville: 211 - $113.06 227 - $125.21
Munster: 299 - $113.00 262 - $120.48
St. John: 234 - $129.59 269 - $132.64
Griffith: 264 - $98.33 226 - $104.56
Dyer: 303 - $123.10 285 - $125.32
Highland: 311 - $106.90 243 - $114.61
Lowell: 313 - $116.21 304 - $121.06
Crown Point: 1021 - $115.19 988 - $119.15
As you can see only Schererville and St. John sold more homes in 2019 than in 2018. There is a low Home inventory in NW Indiana. Basic Economics states that Low supply and high demand equals higher prices. This is exactly what has happened in NW Indiana. Low Inventory is a home sellers best friend! Remember, the condition of the home always determines the selling price. Beautiful, updated Homes always demand higher prices. If you can do any updates every year, it will pay off at selling time.
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ILLINOIS does not use Price per Sq ft, so we will use Average Sale Price for comparisons.
Town # of Homes Sold - Avg Sale Price
2018 2019
Lansing: 446 - $126,731 418 - $134,102
South Holland: 334 - $147, 098 270 - $149,837
Thornton: 38 - $102,632 42 - $106,875
Lynwood: 73 - $205,712 86 - $210,819
Crete: 257 - $188,249 236 - $181,837
Illinois Inventory is down in 3/5 towns listed, but average Sale price is mostly up. Remember, the condition of the home always determines the selling price.
Illinois Seniors: Don't forget to apply for your senior tax deduction in January. The tax discount is applied on the 2nd half tax bill.
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Coldwell Banker sends out an Email promotion to their clients every month. Open this up. They are giving away a lot of gift cards almost every month. This is just out of appreciation for their clients. They will not be contacting you. Take advantage of this client appreciation promotion. We see a list of winners in our office every time they offer it.
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Coolest Home of the Month: 3415 Lake Shore Dr, Michigan City. $3.75 Million.
CLASSIC DUNELAND BEACH HOME. Stunning spread on 120 feet of frontage in desirable Duneland Beach with only the best of the best in material choices used. Overlooking the vast horizon of Lake Michigan waters and the sandy shores, this splendid home was built with the intention of entertaining and accommodating a large family or host friends with over 10,000 finished sq ft and 4 levels of living space.There are 8 luxurious bedroom suites allowing privacy and comfort for guests plus a grand master suite with sitting room, 2 baths, fireplace & beautiful views. The living room boasts 3 stories of floor to ceiling windows, exquisite fireplace mantel, chandelier, custom cabinetry & beamed vaulted ceiling. Be impressed by the massive kitchen with Viking range/oven, plus gas & electric cooktops, Subzero refrigerator, freezer drawers, islands, dishwashers and a huge dining area for all the family to enjoy meals. No stone unturned, no penny unspent to appoint this gorgeous home.
Check out the pictures using the Norton-Safe Link: https://www.coldwellbankerhomes.com/in/michigan-city/3415-lake-shore-dr/pid_28588864/
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Coldwell Banker is a big sponsor of finding Rescue Dogs new Homes. Check out their latest commercial. It will make you smile:
https://www.ispot.tv/ad/dREv/coldwell-banker-old-dog-new-dog
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When considering selling your home and buying a new home, think of the big picture. If yearly home values are rising 2.5% in your area, your $220,000 home will be going up about $5,500. A $320,000 home increasing 2.5% will see an increase of approximately $8,000.
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Interest rates are not expected to rise very much, but if something happens in this complicated World that affects the Real estate market, this could change. Here is an example:
A 250,000 loan at 4% equals a $1,511 Principal and Interest monthly payment. 30 years.
A $250,000 loan at 5% equals a $1,660 Principal and Interest monthly payment. 30 years.
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From Realtor.com:
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