Another month, new data! Have things picked up yet - let's see. Please check my previous post April Sales to see how the numbers compare.
Winnetka Closed Sales - 6 Total (2 April Sales) 
988 Elm $834,000
369 Hawthorn $880,000
324 Rosewood $925,000
106 Longmeadow $1,000,000
704 Park $1,350,000
1310 Scott $1,470,000
Wilmette Closed Sales - 12 Total (11 April Sales)
618 Lacrosse $250,000
3216 Hill $375,000
221 Locust $398,900
2214 Old Glenview $400,000
441 Locust $450,000
1053 Linden $499,000
3211 Wilmette $656,000
315 16th $705,000
1046 Pawnee $1,000,000
245 Vista $1,115,000
1230 Gregory $1,700,000
1301 Chestnut $2,424,000
Kenilworth Closed Sales - 2 Total (1 April Sale)
550 Sterling $350,000
140 Kenilworth $3,945,000
Glencoe Closed Sales - 3 Total (7 April Sales)
700 Woodridge $419,900 (which I sold for $640,000 in 2007!)
532 Madison $435,000
798 Apple Tree $800,000
April total sales were 21 and and May total sales were 23. Not much difference although news reports insisted that sales were up. It hurts to remember that April 2008 sales for Winnetka, Wilmette, Kenilworth and Glencoe were 45 and May 2008 were 46.
Every week Time Magazine runs a feature called "10 Questions" and last week the questions were asked of Jim Cramer, former hedge-fund manager and host of television's Mad Money. Here is the question and answer:
Q: Is it safe to start reinvesting a small portion back in stocks again, or are we better off investing in real estate?
A: I think that real estate is a once-in-a-lifetime opportunity, because there are no competetive buyers. Mortgage rates are the lowest in my life. Affordability is the best in my life. Clearly, real estate is much better than stocks right now.
Touche! Jim Cramer is controversial and not always right (Bear Stearns anyone?) But he is so right about this. To conjure up a trite real estate phrase: "Opportunity is knocking." More to the point, it's banging the door down like a horde of Huns on brand new ponies. Home prices in Winnetka, as well as Wilmette and Kenilworth, continue to slip down to pre-2001 levels.
I'm sounding like a broken record, but this moment in history will not last forever. These are historic low prices with sellers eager and motivated to sell and mortgage rates that are extremely favorable. There is plenty of inventory to choose from.
Jump in, the water's warm.
The controversial mixed-use project proposed by New Trier Partners to rebuilt the old Fell Building and property along Elm Street was approved by the Winnetka Village Council.
Crain's News Release reported:
The Winnetka Village Council last week approved a 167,835-square-foot retail and residential development at the site of the former Fell Co. clothing store in the affluent north suburb's downtown. Construction of the $50-million project won't begin until at least 2010, as developer New Trier Partners LLC still needs financing. The plan for the one-acre site, near Lincoln Avenue and Elm Street, east of Green Bay Road, consists of retail space and 31 condominiums, which would start at $800,000. Lincolnwood-based New Trier can't demolish the existing buildings until it has financing and won't begin marketing the condominiums until the economy improves, says Robert Goldstein, a managing partner.
The vote for preliminary approval was 5-1, but there is yet another round of reviews to survive if the project will go forward. These three committees:
must still have a final look at the plans and make further recommendations to the Winnetka Village Council. The project has been under intense scrutiny since its inception and still has many detractors.
Some local residents continue to object to the increased height of the project (3 feet higher than allowed and requiring an exception to the zoning law.) Others feel it's too bulky for the neighborhood. Those for it, however, say that the business district is dying and all the open parking spaces during business hours proves it. They want more business development in the area and feel this project will revitalize the East End Shopping District.
As for me, that's Baird and Warner's building, the small white structure at the far left of the rendering, it will be a messy 2 years of construction, but that's the price for progress.
April was another nasty-weather month and I wonder how much it affected the sales of homes. Certainly, the Spring Housing Market has gotten off to a slow start. Here are some closed sale stats for the month:
Winnetka: 2 closed sales
265 Poplar $740,000
331 Linden $1,250,000
Wilmette: 10 closed sales
3123 Wilmette $380,000
2149 Washington $421,000
3217 Greenleaf $530,000
807 Forest $650,000
305 16th $655,000
119 Sterling $690,000
2147 Thornwood $750,000
1501 Washington $767,000
222 Woodbine $983,500
905 Osage $1,400,000
Kenilworth: 1 Closed Sale
206 Cumberland $2,256,250
Glencoe: 7 Closed Sales
351 Washington $435,000
475 Jackson $830,000
501 Monroe $925,000
382 Lincoln $1,200,000
249 Woodbine $1,225,000
294 Greenwood $1,600,000
995 Eastwood $2,565,000
A total of 20 homes closed in these four villages during the month of April, 2009 which compares to a total of 45 homes sold in April of 2008. Winnetka and Wilmette saw the largest decrease in sales, Kenilworth stayed the same, and Glencoe actually increased sales this year over last.
I expect to see a modest increase in sales during May. Warmer weather, people and homes emerging from hibernation, a continuation of low rates, and a large inventory to choose from.
Call me to find out about some really good buys!
Finally! I was so pleased to hear that the Village of Winnetka is now accepting all that little junk that we don't know what to do with. We know we shouldn't throw that stuff in the garbage - so we stick it in a drawer or box and years later, it's still there.
What stuff am I talking about? Used cell phones, digital cameras, DVD's, game consoles, ink cartridges, and laptop computers. The Village now accepts these items for recycling through an accredited recycling company. These items can contain compounds that are harmful to the environment if not disposed of properly. 
The Village of Winnetka has partnered with Recycling Avenue who has contracted with Avenues to Independence in Wheeling which is run by (and for) people who are physically and developmentally challenged. You can find out more about them at Avenues to Independence.
These small electronics can be dropped of at the Village during normal working hours: M-F 8:30-5:00 and Saturday from 8:30 until noon. These donations are tax deductible to boot!
Do not bring: large items such as printers, monitors, toner cartridges, desktop computers, TVs, VCRs or stereos.
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