GOTTA WATCH THIS CUTE KITTEN BOWL, SUNDAY, FEBRUARY 2, 2014!

Hallmark Channel’s Pet Project is a multi-faceted initiative devoted to celebrating pets and the incredible joy and enrichment they bring to our lives. To carry out one of their mission's, this Super Bowl Sunday, February 2nd, 2014 they will be premiering for the first time ever "THE KITTEN BOWL"!
My compliments and gratitude to Hallmark Channel for being an active participant in "giving back to the community". Hallmark's goal with their Adoption program is to shine a spotlight on this country’s epidemic of homelessness pets and provide the public with the information and resources they need to find their new best friend.
I personally am an advocate of Pet Rescue/Adoption. To date my family and I have rescued 5 Siamese cats who acclimated beautifully to their new home with us. Too often people think of animals as "disposable" because they have no voice. I am very pleased Hallmark has adopted this initiative and wish them much success.
Please consider Adopting a pet(s) today! The love will be returned unconditionally.
I'll be watching this Sunday, February 2nd! ~ PAM DEVENDORF, REALTOR & ANIMAL LOVER

HAPPY CHINESE NEW YEAR, January 31st, 2014: THE YEAR OF THE HORSE!

Chinese New Year is an important traditional Chinese holiday celebrated at the turn of the Chinese calendar. In China, it is also known as the Spring Festival, the literal translation of the modern Chinese name. Chinese New Year celebrations traditionally run from Chinese New Year's Eve, the last day of the last month of the Chinese calendar, to the Lantern Festival on the 15th day of the first month, making the festival the longest in the Chinese calendar. Because the Chinese calendar is lunisolar, the Chinese New Year is often referred to as the "Lunar New Year".
Within China, regional customs and traditions concerning the celebration of the Chinese new year vary widely. Often, the evening preceding Chinese New Year's Day is an occasion for Chinese families to gather for the annual reunion dinner. It is also traditional for every family to thoroughly cleanse the house, in order to sweep away any ill-fortune and to make way for good incoming luck. Windows and doors will be decorated with red color paper-cuts and couplets with popular themes of "good fortune" or "happiness", "wealth", and "longevity." Other activities include lighting firecrackers and giving money in red paper envelopes.
This year is the year of the HORSE, one of the 12-year cycle of animals which appear in the Chinese zodiac related to the Chinese calendar

WHERE TO BUY A FORECLOSURE?

The National Association of Realtors (NAR) recently reported that foreclosures nationwide sold for an average discount of 17 percent below market value in November. But in some places, the discounts may be even deeper. If you as a buyer or investor is looking to snag a big discount on a foreclosure, here are the top 13 states offering the largest discount:
▼Fort Myers, Fla.: 65% average discount on foreclosures
▼Columbus, Ohio: 63%
▼Cleveland, Ohio: 63%
▼Fresno, Calif.: 62%
▼Pittsburgh, Pa.: 60%
▼Atlanta, Ga.: 57%
▼Canton, Ohio: 56%
▼Cincinnati, Ohio: 55%
▼Akron, Ohio: 55%
▼Memphis, Tenn.: 54%
▼Vero Beach, Fla.: 51%
▼Dayton, Ohio: 51%
▼Richmond, Va.: 49%
Source: RealtyTrac
I am Certified Short Sale Foreclosure Expert. If you would like to purchase a Foreclosure or Short Sale, please call me for your confidential consultation.
~Pam Devendorf, Broker ~ Coldwell Banker Residential (847) 681-4143

WHERE HAVE THE SHORT SALES & FORECLOSURES GONE?

Shadow Inventory/Pending Supply -- also often known as a short sale, foreclosure or REO (bank owned) home -- dropped to the lowest level since August 2008, to 1.7 million homes. The shadow inventory/pending supply is down 24 percent compared to one year ago levels. 
Core Logic* estimates shadow inventory/pending supply by the number of properties that are seriously delinquent in foreclosure or held as an REO by a mortgage servicer but not currently listed on the MLS. 
“Nationally, loan performance continues to improve,” says Mark Fleming, chief economist for Core Logic. “The rate of seriously delinquent loans is at a new five-year low, down 26 percent relative to a year ago. The shadow inventory continues to decline as well, decreasing at an average monthly rate of 46,000 units over the last year. Healthy market levels of shadow inventory are around 650,000 units, so there is more to be done, but the trend is in the right direction.”
In November, completed foreclosures were down 29 percent year over year. But foreclosures are still elevated by historical standards. In November 2013, there were 46,000 completed foreclosures, but between 2000 and 2006, completed foreclosures averaged 21,000 per month nationwide. 
While the foreclosure pipeline is gradually clearing, many home owners across the United States are still struggling to make their payments. About 812,000 homes in the United States were in some stage of foreclosure in November 2013. The percentage is down by 34 percent from a year earlier when foreclosure inventory stood at 1.2 million. 
The five states with the highest foreclosure inventories as the percentage of all mortgaged homes are: Florida (6.6 percent), New Jersey (6.5 percent), New York (4.7 percent), Maine (3.5 percent), and Connecticut (3.5 percent). 

However, fewer of these homes are getting a FOR SALE sign, due to the back log with their lender. Bank owned homes /REO’s are being offered first to large investment companies where they are converted to rental properties. Home owners of Short Sales are delaying their home sale process opting to remain in their home until the very end. *Core Logic® is a company financial services and real estate professionals turn to for comprehensive data, analytics and services.
I am a Certified Short Sale Foreclosure Resource. If you need help, please call me to schedule your confidential appointment. ~PAM DEVENDORF, BROKER ~ Coldwell Banker Residential, Illinois

SUMMARY OF THE 2013 HOUSING MARKET IN CHICAGO & THE NORTH SHORE, ILLINOIS

Dear Friends, Clients & Neighbors,
Good News! This past year’s Residential Real Estate market was resurrected! The market started off in early January, 2013 with a BANG! Homes where going under contract quickly. Many homes had multiple offers near list price or at list price within a short time frame. This is a welcome change from the down swing since August, 2007. Realtors saw a slow but continuous change happening during 2012’s real estate market. At first, Buyers began to emerge slowly but, then in 2013, the speed was accelerated. The economy was significantly improving, their were more jobs, interest rates averaged 4.5% during 2013. Many of you may remember when rates in the 1970’s & 1980’s were at an all time high: 18% - 20%!
The number of accepted contracts throughout the region continues to soar on a monthly basis – December finished the year with a strong burst of sales.   For 2013, the North Shore Region posted a total of 4,339 accepted contracts, which is an 18% increase over 2012.  Every town in the region saw the number of sales increase over 2012.  More significantly, the 2013 contract total is a 91.5% increase over the trough of 2008, which had only 2,265 accepted contracts.
Market Time or Days on Market (DOM) significantly decreased from 2012’s. 2013 fell to 104 days, which is indicative of the low inventory throughout the region.
As we all know, market value increased steadily throughout the year.  At year end, the Median Sales Price was up 7.9% from the 2012 median.  We are NOT back to the 2007 Median Sold Price of $690,000 which is the high water mark.  This is important to keep in mind – the market is moving in the right direction and is forecast to do so for at least the next year, but we will not see the $690,00 median price for quite awhile.
Inventory remains low for the entire North Shore. There is only a 4 month supply of single family homes.  Historically a 6 month supply is seen as a sign of a healthy market. 

As the housing market continues its recovery, we can expect a few things to happen in 2014:
Home prices will continue to rise, but at a slower rate than 2013.
As home prices rise, more homeowners will emerge from being underwater, putting them in the position to finally buy and sell properties.
Mortgages will be dominated by purchases rather than refinance activity, for the first time since 2000.
Higher mortgage rates will slow home sales and price gains to more sustainable levels.
Low inventories will be helped by an increase in new construction and a decrease in investor purchasing
What does this mean for a home owner? Now is an optimum time to list your home. As always, location, condition and price are the 3 major factors in selling. For a home buyer? Mortgage rates are at an all time low but, scheduled to go up in 3rd Quarter, 2014. This puts more $$$ in your pocket, to buy a home of your dreams. Experience the Difference! ~ PAM DEVENDORF, BROKER/REALTOR

ALMOST 4 FEET OF SNOW IN CHICAGO...AS OF JANUARY 22, 2014!

M
Has anyone been keeping track of the snow and temperatures in Chicago? I've spent my entire life in the Midwest and we are experiencing one of the snowiest and coldest winters since 1979! Since Thanksgiving, it has been snowing, freezing, melting, then snowing, freezing and melting again. This has lead to several delays at our airports, highways have been closed due to white outs or black ice. Monday, January 6th, most of Chicago was shutdown: public & private schools, libraries, Park District's, Art Institute of Chicago, trains were delayed due to snow banks, passengers had to be rescued by Motor Coaches, even colleges which rarely close, closed. We were hit hard by the "polar vortex". People stayed home for days until it started to thaw.


How much has it snowed in Chicago?
Cumulative seasonal snowfall, as of January 21,2014 was approaching 4 feet — 44.8 inches. That’s 260 percent of Chicago’s normal season-to-date snowfall (17.2 inches) and 122 percent of the city’s normal full-season total of 36.7 inches. In 130 years of official snowfall data, only two winters have had more snow through Jan. 21: 1951-52 with 54.0 inches and 1978-79 with 66.3 inches.

What about the temperatures and wind chill?
December ran 4 degrees below normal and January, as of the 21st, nearly 3 degrees below normal. Wind chills tonight will dip down to 20-30 below zero. Bitter cold and strong winds will cause wind chills to plummet again down to 30 below or even colder late Thursday night and into early Friday morning. The longer range forecast keeps us in the deep freeze through the end of January and hints at a frigid start to February.

Chicago's winter weather pattern continues as if it is on steroids. Our weekend forecast is predicting more snow, up to another 3 inches and temps in the sub zeros. Anyone want to trade places with me? Must be 60 degrees at least.

4th QUARTER SOLD DATA FOR THE NORTH SHORE of IL ~ OCTOBER 1 – DECEMBER 31, 2013

THE NORTH SHORE OF ILLINOIS
....................Units...DAYS on MARKET...Median Sold $.................TOTAL SOLD
Attached ....... 413.…................67.....…................$190,000.................$99,300,099
Detached........690….............. ..99.........................$433,390….............$369,800,012
TOTAL……..1,103…….….....87…………….…$330,059……….…$468,100,111

OCT 1 - DEC 31, 2012 (Attached & Detached Homes):
TOTAL………1,090………….148……………...$282,250………….$408,229,078

RENTALS
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
.........................291.....................39..…………………. $1,900…………….$618,612
Data provided by 2013 MRED, LLC, not Guaranteed. Fair Housing Compliant.

This Data Includes the Following Areas: Deerfield, Bannockburn, Riverwoods, Highland Park, Lake Forest, Lake Bluff, Lincolnshire, Northbrook, Glenview/Golf, Mundelein/Ivanhoe, Vernon Hills/Indian Creek and Buffalo Grove.

4th QUARTER SOLD DATA FOR BUFFALO GROVE, IL ~ OCTOBER 1 – DECEMBER 31, 2013

BUFFALO GROVE, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............98....................73............................$147,750......................$15,607,950
Detached............72.................... 57............................$303,500......................$23,303,083
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
..........................60......................33...………………. $1,773..…….…………$109,030
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR VERNON HILLS/INDIAN CREEK, IL ~ OCTOBER 1 – DECEMBER 31, 2013

VERNON HILLS/INDIAN CREEK, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............48....................48.............................$170,750......................$9,273,475
Detached............39.................... 82............................$339,900......................$14,664,615
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
..........................53.......................41.………………. $1,750..…….…………$93,767
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR MUNDELEIN/IVANHOE, IL ~ OCTOBER 1 – DECEMBER 31, 2013

MUNDELEIN/IVANHOE, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............38....................52.............................$142,625......................$5,597,941
Detached............94...................106............................$152,000......................$18,974,238
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
..........................31.......................32.………………. $1,650..…….…………$57,620
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR GLENVIEW/GOLF, IL ~ OCTOBER 1 – DECEMBER 31, 2013

GLENVIEW, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............74....................76.............................$227,500......................$21,257,136
Detached............116...................86............................$450,000......................$59,840,360
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
..........................37.......................45.………………. $2,200..…….…………$84,940
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR NORTHBROOK, IL ~ OCTOBER 1 – DECEMBER 31, 2013

NORTHBROOK, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............59....................46.............................$226,000......................$15,571,453
Detached............84....................112...........................$525,000......................$50,635,874
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
..........................34.......................46.………………. $2,325..…….…………$75,570
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR LINCOLNSHIRE, IL ~ OCTOBER 1 – DECEMBER 31, 2013

LINCOLNSHIRE, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ..............8....................59.............................$313,750......................$2,566,000
Detached............19....................74.............................$485,000......................$10,531,500
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
..........................5.......................37.…………………. $2,500..…….…………$12,450
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR LAKE BLUFF, IL ~ OCTOBER 1 – DECEMBER 31, 2013

LAKE BLUFF, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............13....................77.............................$195,000......................$2,505,900
Detached............28....................75.............................$465,000......................$20,537,880
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
........................13.....................41....…………………. $2,300..…….…………$32,625
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.

4th QUARTER SOLD DATA FOR LAKE FOREST, IL ~ OCTOBER 1 – DECEMBER 31, 2013

LAKE FOREST, ILLINOIS
......................Units…...DAYS on MARKET…….Median Sold $..........TOTAL SOLD
Attached ............22....................53...............................$470,000......................$10,614,524
Detached............65....................158.............................$775,000......................$67,016,503
RENTALS:
…………......Units...... DAYS on MARKET…….Median Rental $....TOTAL VOLUME
........................18.....................49....…………………. $3,500..…….…………$60,950
Data provided by 2014 MRED, LLC, not Guaranteed. Fair Housing Compliant.
~PAM DEVENDORF, BROKER. Representing Buyers, Sellers, Investors, Builders and Rentals Locally, National & International.