Lake Forest, IL

Lake Forest's January Property sales were 8, down -20.0% from 10 in January of 2011 and -55.6% lower than the 18 sales last month. January 2012 sales were at their lowest level compared to January of 2011 and 2010. January YTD sales of 8 are running -20.0% behind last year's year-to-date sales of 10.

The Median Sales Price in January was $530,500, down -28.1% from $737,813 in January of 2011 and down -27.3% from $729,750 last month. The Average Sales Price in January was $862,000, up 7.0% from $805,563 in January of 2011 and down -10.6% from $963,889 last month. January 2012 ASP was at highest level compared to January of 2011 and 2010.

The Total Inventory of Properties available for sale as of January was 261, down -4.4% from 273 last month and down -23.0% from 339 in January of last year. January 2012 Inventory was at the lowest level compared to January of 2011 and 2010.

The January 2012 Months supply of Inventory of 32.6 months was at its lowest level compared with January of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is 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 January was 106, down -42.7% from 185 days last month and down -62.0% from 279 days in January of last year. The January 2012 DOM was at a mid range compared with January of 2011 and 2010.

The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The January 2012 Selling Price vs Original List Price of 87.8% was up from 76.9% last month and up from 77.5% in January of last year.

The number of New Listings in January 2012 was 33, up 120.0% from 15 last month and down -38.9% from 54 in January of last year.

Lake Forest's December Property sales were 18, down -41.9% from 31 in December of 2010 and -10.0% lower than the 20 sales last month. December 2011 sales were at their lowest level compared to December of 2010 and 2009. December YTD sales of 254 are running -9.0% behind last year's year-to-date sales of 279.

The Median Sales Price in December was $729,750, up 53.7% from $474,900 in December of 2010 and up 17.7% from $620,000 last month. The Average Sales Price in December was $963,889, up 11.9% from $861,198 in December of 2010 and down -20.2% from $1,208,050 last month. December 2011 ASP was at highest level compared to December of 2010 and 2009.

The Total Inventory of Properties available for sale as of December was 270, down -14.0% from 314 last month and down -17.4% from 327 in December of last year. December 2011 Inventory was at the lowest level compared to December of 2010 and 2009.

The December 2011 Months Supply of inventory of 15.0 months was at a mid range compared with December of 2010 and 2009. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.

The average Days On Market (DOM) is 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 December was 185, down -2.6% from 190 days last month and up 5.7% from 175 days in December of last year. The December 2011 DOM was at its highest level compared with December of 2010 and 2009.

The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The December 2011 Selling Price vs Original List Price of 76.9% was down from 82.1% last month and down from 85.1% in December of last year.

The number of New Listings in December 2011 was 15, down -37.5% from 24 last month and down -54.5% from 33 in December of last year.

You earned it. You bought it. You loved it. Now you want to sell your Lake Forest executive home.

Nothing can stop you if selling your house is a must-do goal

You cannot test the market. Or dip your toes in the water.

You have to go full throttle and pull out all stops to make your dream become a reality. Otherwise, you’ll just be spinning your wheels.

Listing your house for sale isn’t the same as selling your house

If you own a house in Lake Forest, consider yourself fortunate to live in such a vibrant and popular community. It may be ‘cooler by the lake’, but it’s still a hot real estate market. Lake Forest won’t ever go out of style.

During the last 30 days, these executive Lake Forest houses were sold to the highest bidder.<!--more-->

#	Street	Original List Price	Sold Price	Ratio Sold to List	Market Time
1319	Burr Oak	$579,000	$522,000	90%	28
1150	Oak Knoll	$599,000	$537,100	90%	11
238	WILSHIRE	$675,000	$623,000	92%	21
451	Michigamme	$899,000	$630,000	70%	238
145	Basswood	$829,000	$820,000	99%	18
285	South Shore	$899,000	$825,000	92%	420
1241	Cascade	$899,000	$840,000	93%	82
200	Washington	$965,000	$840,000	87%	82
1710	Lowell	$1,195,000	$868,000	73%	304
431	SPRUCE	$1,179,000	$950,000	81%	230
448	Douglas	$1,349,000	$1,080,000	80%	153
1170	Polo	$1,274,000	$1,130,000	89%	42
20	Quail	$1,249,000	$1,150,000	92%	6
935	James	$2,100,000	$1,180,000	56%	318
1089	Evergreen	$1,350,000	$1,180,000	87%	148
1385	Kurtis	$1,550,000	$1,250,000	81%	118
850	Hunter	$1,595,000	$1,400,000	88%	382
601	Rosemary	$1,495,000	$1,400,000	94%	36
1855	James	$1,599,000	$1,415,000	88%	62
734	GREENBRIAR	$1,979,000	$1,508,000	76%	80
295	OLD MILL	$2,795,000	$2,215,000	79%	220
520	ROSEMARY	$2,595,000	$2,500,000	96%	62
1070	ANNA	$2,995,000	$2,550,000	85%	746
1145	Green Bay	$6,495,000	$5,625,000	87%	1179

Data provided by the Midwest Real Estate LLC (MRED) multiple listing service and includes properties listed and sold by various participants in the MLS. Data supplied does not reflect all market activity in the area.

Full speed ahead

Each and every homeowner who intended to sell quickly did. How can you tell? They sold in less than 2 months. In addition, these properties usually sold at a price within a few percentage points of their original list price.

These homeowners weren’t about to fool around. To a one, they prepared to sell … not just list … BEFORE they put their homes on the market.

Once the prep work was done, they didn’t sit back, sipping mint juleps on the porch. They put their best foot forward for every showing. For them, Open House happened every day of the week.

When offers came in, they negotiated in good faith. No offer was too low because every offer was a jumping-off point.

Ultimately, their goal was to move out and move on. They did just that. Some in days. Some in weeks. Others in a few short months.

Up to speed

Not all suburban communities are so lucky. In fact, not all Lake Forest homeowners have been as lucky. Many are still waiting their turn to sit at the closing table.

Currently, 315 executive homes in Lake Forest remain unsold. Some houses have been on the market for years. Yes, years!

The numbers reveal a 13-month supply. Thirteen months is too long to wait to get on with your life.

The ‘wow’ factor

Selling your Lake Forest home always requires extra hurdles to jump over.

Buyers are looking for that certain je ne sais quoi. They’re expecting ‘whiz-bang’ for their buck. They don’t want to compromise.

Price must always be justified by quality. If they’re going to mortgage their future, they want their investment to be a sound one.

Don’t be left behind

If you haven’t sold your house yet, but want to sooner rather than much later, don’t get stuck with one of those ‘unsold’ homes languishing on the market. Instead, make sure you understand everything before going into the selling process. Don’t try to hedge your bet. And understand that the homes that sell the fastest are the homes that meet buyer expectations.

To meet … and exceed … buyer expectations, homesellers should concentrate on these 3 selling points to create demand for their house.

Condition – A house worth a million bucks must be worth a million bucks. Leave no stone unturned or detail overlooked.

Presentation – Turn your home into a castle. A showcase. A property worthy of being featured in Architectural Digest.

Value – When your house stands out from the crowd, homebuyers know it, want to see it, and will put it at the top of their list.

To sum up, use this formula when you’re making plans to sell your house —

Condition + Presentation + Value = Sales Success

Champagne wishes and caviar dreams

In a real estate market where the number of anxious sellers far surpasses the number of serious buyers, homeowners can’t afford to kick back and rely on luck. They have to make sure their house tells a unique story to homebuyers that they, too, can live in the laps of Lake Forest.

You earned it. You bought it. You loved it. Now you want to sell it. Your house in Lake Forest, that is.

Nothing can stop you if this is your must-have goal. You cannot test the market or dip your toes in the water. You have to go full throttle and pull out all stops to make your dream become a reality. Otherwise, you’ll just be spinning your wheels.

Listing your house for sale isn’t the same as selling your house

If you own a house in Lake Forest, consider yourself fortunate to live in such a vibrant and popular community. It may be ‘cooler by the lake’, but it’s still a hot real estate market. Lake Forest won’t ever go out of style.

During the last 30 days, these luxury Lake Forest houses were sold to the highest bidder.

Data provided by the Midwest Real Estate LLC (MRED) multiple listing service and includes properties listed and sold by various participants in the MLS. Data supplied does not reflect all market activity in the area.

Full speed ahead

Each and every homeowner who intended to sell quickly did. How can you tell? They sold in less than 2 months. In addition, these properties usually sold at a price within a few percentage points of their original list price.

These homeowners weren’t about to fool around. To a one, they prepared to sell … not just list … BEFORE they put their homes on the market.

Once the prep work was done, they didn’t sit back, sipping mint juleps on the porch. They put their best foot forward for every showing. For them, Open House happened every day of the week.

When offers came in, they negotiated in good faith. No offer was too low because every offer was a jumping-off point.

Ultimately, their goal was to move out and move on. They did just that. Some in days. Some in weeks. Others in a few short months.

Up to speed

Not all suburban communities are so lucky. In fact, not all Lake Forest homeowners have been as lucky. Many are still waiting their turn to sit at the closing table.

Currently, 206 luxury-priced homes in Lake Forest remain unsold. Some houses have been on the market for years. Yes, years!

The numbers reveal a 2-year supply! Two years is too long to wait to get on with your life.

The ‘wow’ factor

Selling your luxury home always requires extra hurdles to jump over.

Buyers are looking for that certain je ne sais quoi. They’re expecting ‘whiz-bang’ for their buck. They don’t want to compromise. Price must always be justified by quality. If they’re going to mortgage their future, they want their investment to be a sound one.

Don’t be left behind

If you haven’t sold your house yet, but want to sooner rather than much later, don’t get stuck with one of those ‘unsold’ homes languishing on the market. Instead, make sure you understand everything before going into the selling process. Don’t try to hedge your bet. And understand that the homes that sell the fastest are the homes that meet buyer expectations.

To meet … and exceed … buyer expectations, homesellers should concentrate on these 3 selling points to create demand for their house.

Condition – A house worth a million bucks must be worth a million bucks. Leave no stone unturned or detail overlooked.

Presentation – Turn your home into a castle. A showcase. A property worthy of being featured in Architectural Digest.

Value – When your house stands out from the crowd, homebuyers know it, want to see it, and will put it at the top of their list.

To sum up, use this formula when you’re making plans to sell your house —

Condition + Presentation + Value = Sales Success

Champagne wishes and caviar dreams

In a real estate market where the number of anxious sellers far surpasses the number of serious buyers, homeowners can’t afford to kick back and rely on luck. They have to make sure their house tells a unique story to homebuyers that they, too, can live in the laps of luxury.

Former Lake Forest Realtor uses staging to drive home sales

Nashville - Showhomes, a national home staging franchise, awarded its Chicago North Shore - Barrington location its coveted Franchise of the Year Award for 2010.

Showhomes recognized the North Shore - Barrington location because “it excels in home staging, maintains the highest standard of quality, has shown steady growth several years in a row, and has produced outstanding home sales results for its customers,” said Bert Lyles, Showhomes CEO.

The home staging franchise has a twist that is producing results in today’s real estate market: it uses live-in home stagers to help sell vacant houses. The company helps home owners and their Realtors in the Chicago market sell homes substantially faster than comparable vacant homes and often for a much higher price.

The Chicago North Shore - Barrington franchise is owned by Barbara Bliss, a former Lake Forest Realtor. "It's thrilling to be a part of so many success stories," said Bliss. "My franchise has flourished during the boom and the bust. We have roared through the recession; we've seen double digit growth every year since 2005."

"I have a passion to help Realtors, home owners and buyers visualize the very best possibilities for presenting a house," Bliss said. "A beautifully staged home with a live-in home stager makes all the difference in a market that's overflowing with inventory.”

It is also the most economical way for a home owner to stage a large home: the live-in home stager pays the monthly staging fee so the home owner doesn’t have to, saving thousands.

Houses staged by Showhomes are often the first to sell in the northern suburbs of Chicago, where Bliss' franchise has its blueprint. Case in point: recently, she staged a $3 million home that had been on the market for 806 days before staging and it sold in 78 days once the live-in stager moved in. In addition to selling faster, the home sold for very near the asking price.

Bliss' current listings top $40 million. She has six employees and a bustling storefront in downtown Lake Forest. She credits much of her success to a boundless passion for home staging and her willingness to educate Realtors about the benefits of Showhomes.

"This is tough market for home owners," Bliss said. "I’m happy that our hard work makes it possible for many homes to sell that would otherwise sit. In many ways, we are helping the housing market recover one home at time."

About Showhomes Home Staging

Showhomes is a home staging business with a twist: the company uses live-in home stagers to manage vacant houses while they are on the market for sale and offset a home owner’s expense to stage the home. The innovative marketing strategy has been producing results since 1986 and the company has helped over 25,000 home owners sell vacant houses valued at over $8 billion. For franchise opportunities and more information, please visit www.showhomes.com and www.showhomesfranchise.com.