Goodbye, Granite

Goodbye, Granite: The 6 Hottest Countertop Finishes

The graybeard of high-end design is increasingly déclassé. Here's what's coming to force it into retirement.

For years, granite has been the go-to material for high-end countertops. Despite its expense, weight, and ubiquity, it still remains the countertop of choice.

But at EuroCucina 2014, there was a huge variety of granite alternatives on display. From stainless steel to tempered glass, from ceramic to wood... we’ve seen the future of your kitchen, and it’s not granite.

---

Tempered Glass

German design house Leicht showed off a lovely tempered glass countertop in a number of its model kitchens. The thick, translucent material is tough and has a pleasant tactility, while still remaining easy to clean. According to company reps, it’s also available in a huge variety of colors.

---

Ceramics

Leicht also made use of ceramic counters, which one representative described as the “closest thing you can get to indestructible.” The material is scratch-resistant, easy to clean, and cool but not cold to the touch. And the dark gray finish we saw paired beautifully with the wooden surround.

---

Nanotech Materials

The most unusual alternative countertop we saw at EuroCucina came from Italian designer Arrital, courtesy of Arpa Industriale. Referred to as a “nanotech matte material,” the Fenix NTM countertop is anti-reflective, anti-fingerprint, self-healing, and soft to the touch without being... well, soft. It felt great under our hands, and looked great in Arrital’s modern kitchens.

---

Wood

We saw solid wood and wood-finished countertops everywhere at the show, often contrasting with or overlaid on a stone or synthetic material. Everything from mahogany and ebony to light pine and bamboo was used, and often paired with matching cabinetry to create a minimalist yet warm look. In some cases, wood was even paired with granite, though that was less common.

• 
• 
• 
• 

---

Stainless Steel

Look, stainless is nearly as played out as granite. In fact, we just ran a whole story about why it’s probably a terrible idea to overdose on gleaming silver in your kitchen. But plenty of designers at EuroCucina made a virtue out of this particular vice and made stainless countertops look fresh and new again.

• 
• 

Tile

When it comes to countertop finishes, tile is pretty old school. It’s a style that’s generally beholden to a certain era or area—both of the places I lived in Santa Fe had them, for instance. At least one designer at EuroCucina is aiming to bring them back. Minacciolo’s Minà multi-function island employs a beautiful mosaic tile top with subtle hues of red and orange.

14,164 Homes Sold Yesterday

14,164 Homes Sold Yesterday! Did Yours?

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet this fall, maybe it's not priced properly.

After all 14,164 houses sold yesterday, 14,164 will sell today and 14,164 will sell tomorrow.

14,164!

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest  Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.17 million. Divide that number by 365 (days in a year) and we can see that, on average, over 14,100 homes sell every day. Sales are at the highest pace of 2014.

We realize that you want to get the fair market value for your home. However, if it hasn't sold in today's active real estate market, perhaps you should reconsider your current asking price
.

NAR's Existing Home Sales Report

#1 Reason You Should Sell Now

The price of any item (including residential real estate) is determined by ‘supply and demand’.  If the supply of an item is larger than the amount of people looking to purchase that item, the price will decrease

According to the National Association of Realtors (NAR), historically there is a natural decline in buyers looking to purchase a home (also known as foot traffic) as the winter months approach. Shown in the graph below:

NAR goes a step further to say that there is a direct correlation between “foot traffic” and “pending contracts/closed sales one to two months later”.

Bottom Line

The real estate market has done well to recover from the slow start we experienced due in part to the inclement weather at the beginning of 2014.  But with those winter months right around the corner, now may be the best time to get the best price.

5 Demands to Make on Your Real Estate Agent

Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.

You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.

1. Tell the truth about the price

Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

2. Understand the timetable with which your family is dealing

You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.

This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. You agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family  (commission, length, etc.), don’t expect them to turn into Super hero when they are negotiating for you and your family with your buyer.

4. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

5. Get the house SOLD!

There is a reason you are putting yourself and your family through the process of moving.

You are moving on with your life in some way. The reason is important or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT! Call The A Team

Get ready for the cold

Leave the deerstalker hat and magnifying glass behind. All you’ll need for energy sleuthing is a flashlight, screwdriver, paint stirrer, tape measure, and—not just for serenity’s sake—a stick of incense.
 
1. Hunt down drafts. Hold a lit stick of incense near windows, doors, electrical outlets, range hoods, plumbing and ceiling fixtures, attic hatches, and ceiling fans in bathrooms—anywhere drafts might sneak in. Watch for smoke movement. Note what sources need caulk, sealant, weather-stripping, or insulation.

2. Check attic insulation. Winter or summer, insulation does the most good when it’s overhead, so start with the attic. First, do you have insulation? If the insulation you see covers the tops of the joists by several inches, you probably have enough. If the insulation is only even with the tops of the joists, you probably need to add insulation. 

3. Check wall insulation. Remove electrical outlet covers to see if your wall contains insulation. Shut off power to the receptacle before probing beside the electrical box with a wooden paint stirrer. Check some switch boxes as well. Their higher wall location lets you see if blown-in insulation has settled.

4. Look for stains on insulation. These often indicate air leaks from a hole behind the insulation, such as a duct hole or crack in an exterior wall. Seal gaps with caulk or spray foam insulation.

5. Inspect exposed ducts. Look for obvious holes and whether joints are sealed. Heating, ventilation, and cooling (HVAC) ducts are made of thin metal and easily conduct heat. Consider insulating them. Uninsulated or poorly insulated ducts in unconditioned spaces can lose 10% to 30% of the energy used to heat and cool your home.

6. Check anything that goes through an exterior wall. Examine dryer ducts, plumbing lines under sinks and vanities, anything that pierces a wall. Any gaps around it should be sealed with spray foam insulation or caulk.

NAR REPORTS REVEAL TWO REASONS TO SELL NOW

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now may be the best time to sell your house. Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.

THE PENDING HOME SALES REPORT

The report announced that pending home sales (homes going into contract) "surged" by 6.1%. The increase was "the largest month-over-month gain since April 2010, when first-time home buyers rushed to sign purchase contracts before a popular tax credit program ended". Lawrence Yun, NAR’s chief economist, expects improving home sales throughout the rest of the year:"Sales should exceed an annual pace of five million homes in some of the upcoming months behind favorable mortgage rates, more inventory and improved job creation." Takeaway: Demand is beginning to increase dramatically compared to earlier in the year.

THE EXISTING HOME SALES REPORT

The most important data point revealed in the report was not sales but instead the inventory of homes on the market (supply). The report explained:

• Total housing inventory climbed 2.2% to 2.28 million homes available for sale
• That represents a 5.6-month supply at the current sales pace
• Unsold inventory is 6.0% higher than a year ago

There were two more interesting comments made by Yun in the report:

1. "Rising inventory bodes well for slower price growth and greater affordability, but the amount of homes for sale is still modestly below a balanced market." In real estate, there is a guideline that often applies. When there is less than 6 months inventory available, we are in a sellers’ market and we will see appreciation. Between 6-7 months is a neutral market where prices will increase at the rate of inflation. More than 7 months inventory means we are in a buyers’ market and should expect depreciation in home values. As Yun notes, we are currently in a sellers’ market (prices still increasing) but are headed to a neutral market.
   
2. "New home construction is still needed to keep prices and housing supply healthy in the long run." As new construction begins to be built, there will be increased downward pressure on the prices of existing homes on the market.

Takeaway: Supply is about to increase significantly. The supply of existing homes is already increasing and the number of newly constructed homes is about to increase.

Bottom Line

If you are going to sell, now may be the time.

JUNE SALES DATA FOR CHICAGOLAND

JUNE SALES DATA FOR CHICAGOLAND

June Property sales were 10,071, down -9.7% from 11,148 in June of 2013 and 4.8% higher than the 9,611 sales last month. June 2014 sales were at a mid level compared to June of 2013 and 2012. June YTD sales of 46,419 are running -9.4% behind last year's year-to-date sales of 51,262.

Prices

The Median Sales Price in June was $225,000, up 7.5% from $209,225 in June of 2013 and up 7.1% from $210,000 last month. The Average Sales Price in June was $292,519, up 4.2% from $280,772 in June of 2013 and up 7.4% from $272,461 last month. June 2014 ASP was at highest level compared to June of 2013 and 2012.

Inventory & MSI

The Total Inventory of Properties available for sale as of June was 39,075, down -1.0% from 39,472 last month and down -8.1% from 42,532 in June of last year. June 2014 Inventory was at the lowest level compared to June of 2013 and 2012.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2014 MSI of 3.9 months was at a mid range compared with June of 2013 and 2012.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for June was 52, down -10.3% from 58 days last month and down -17.5% from 63 days in June of last year. The June 2014 DOM was at its lowest level compared with June of 2013 and 2012.

Housing Market Update

Your Mid-Year Housing Market Update 

After an intense winter that kept many buyers and sellers indoors, the spring housing season has proven to be very active. From historically low interest rates to rising prices and tight inventory, here is a quick breakdown of the local Chicagoland real estate market.

Home Prices & Activity

Home prices continue to rise steadily with 20 consecutive months of year-over-year gains. The Chicago-area median home price rose to $190,000 in April, a 9.9 percent growth from April 2013. The number of homes sold has decreased by 7.8 percent over last year's numbers. This lack of sales is a result of a shortage in listings going on the market.

"Sellers who have been putting off a decision to list could find this spring is the right time to sell to take advantage of pent-up buyer demand and less market competition," said Phil Chiles, president of the Illinois Association of REALTORS®.

Inventory

April saw the most Chicago-area homes listed, more than any other month in the past four years. According to Matt Farrell, president of the Chicago Association of REALTORS®, "As buyers navigate their way through the home buying process, it can't be stated enough that if you see something you like, it won't likely be available a few days later."

Interest Rates

At the beginning of 2014, many mortgage experts predicted that interest rates would increase to five percent by the end of the year. However, rates remain at historic lows, and the monthly average commitment rate for a 30-year, fixed-rate mortgage for Northern Illinois was 4.34 percent in April. Fannie Mae and Freddie Mac are now predicting that interest rates may reach around five percent in 2015.

The housing market continues to change regularly, and I can help you make the best decision for your unique situation and hyperlocal market. If you'd like to learn more about your real estate options, please contact me.

New Home For around $2000

Luxury home doesn't always necessarily mean thousands of square footage, towering great 

rooms and gilded toilets. Take these homes for example: to begin building one of these epic 

houses, all you need is $2,000. That $2,000 will buy you a shipping container. What you

 do with that shipping container… well, that’s completely up to you.

Some creative people have found a way to transform this rudimentary “room”

 with metal siding into luxury housing that blows us away. These homes are epic.

1.) A shipping container doesn't have to be a closed space.

2.) Blue container? Run with it!

3.) Open up the metal boxes and let your imagination run wild.

4.) *jaw drops*

5.) The shapes are basically the same, but wow.

6.) Utilitarian… and awesome.

7.) The best part about this one is that you know they made it 

out of shipping containers.

8.) This open concept was taken a step further with a sliding garage door.

9.) You don’t rob this house. Ever.

10.) Modern, yet … not.

11.) This is the kind of home that keeps a person happy.

12.) Already-made pool? Yes please.

13.) Recycled materials AND it’s good for the planet.

14.) This collection of containers is just epic.

15.) These are so inspiring.

Source: Reddit

The best part of the gallery that this Reddit user shared? The shipping containers are 

recycled materials, so you’re actually helping the environment if you invest in making

 a luxury shipping container home. You can’t beat a base price of $2,000.

Open Floorplans Getting Closed Off? Demand Grows for Separate Kitchens

Open floor-plans have been in high demand in recent years, with buyers showing preferences for open kitchens and dining areas tucked into great rooms. But could that be changing? A New York Times article highlights a “separate kitchen comeback,” as some home owners say they want a more defined space for a kitchen and dining area. More new buildings are opting to feature separate kitchens and formal dining rooms due to a rising demand for separate corridors, according to the article.

Why are some home owners suddenly wanting to close off the interior of their homes again? Some point to a “dirty dishes” driver. Home owners are finding that when entertaining they prefer to have a separate kitchen space so their guests don’t have to see the food being prepared or look at the dirty dishes afterwards.

The separate kitchen and dining space also helps to remove one popular sticking point for home buyers: How to fit their existing dining room table into an open floor-plan? “The issue of where to put the dining table kills more deals than anything else in real estate. If a family is moving, the dining table is the one thing they say they can’t part with,” Barbara van Beuren, a managing partner with Anbau Enterprises, told The New York Times. Anbau Enterprises is developing new duplexes in New York City featuring dedicated dining rooms.

For some home owners, they’re preference for separate kitchens is more nostalgic. They desire it because it reminds them of their childhood home.

“So much new construction features open floor plans that there’s a pent-up desire for apartments with separate dining rooms and kitchen,” broker George Case with Citi Habitats told The New York Times. “They offer charm, they’re better for entertaining, and you don’t have to see your partner first thing in the morning. For a certain demographic, they’re a definite selling point.”

Some listing ads are even highlighting homes with a separate dining room, viewing it as a selling point. Some architects also are responding to the increase in demand with what they’re dubbing “hybrid kitchens,” using pocket doors that can be opened or closed to give home owners the option of an open or closed kitchen.

by Melissa Tracey 

Tips on staging to help sell your home

Candace Garvey's Tips on Staging a Home to Sell: http://youtu.be/dBYszJSuEcc

Say No To FSBO

Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of our reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.

• The buyer who wants the best deal possible
• The buyer’s agent who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies which work for the buyer and will almost always find some problems with the house
• The appraiser if there is a question of value
• Your bank in the case of a short sale

2. Exposure to Prospective Purchasers

Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you? (and craig's list just doesn't do it)

3.  Results Come from the Internet

Where do buyers find the home they actually purchased?

• 43% on the internet
• 9% from a yard sign
• 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000.   This doesn’t mean that an agent can get $46,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with us your real estate professionals, and see what we have to offer.