OPEN HOUSE

SUNDAY, JANUARY 22  – NOON TO 3:00PM

550 North Kingsbury

Unit 419

$395,000 Plus $25K for Tandem Parking

River Bank Lofts: Unit 419 is a quiet East facing brick and timber River North 2 bedroom/2 bathroom loft featuring dramatic ceilings, skyline views and smartly designed renovated kitchen. Complete with hardwood floors and wood burning fireplace with gas starter, the split bedroom floor-plan offers an open design with separate living and dining areas, arched windows and views of the Chicago Skyline.

The custom designed renovated kitchen offers Kitchen Aid stainless steel appliances with counter depth refrigerator, cherry cabinets an additional 2” deep to accommodate platters and oversized serving pieces, self-closing drawers and interior pull out drawers.

$48,000 in upgrades inlcuding, granite counters with backsplash, Kohler faucet and under-mount extra deep single-basin sink. Laundry room with full size Frigidaire front loading energy efficient washer/dryer. Carpeted bedrooms with organized closets. Newer HVAC and hot water heater. This beautiful listing is highlighted by a 300-square-foot additional storage room located across the hall from the unit. Tandem deeded parking is an additional $25,000.00.

Room Dimensions

Living Room 24×16

Foyer 5×18

Kitchen 14×8

Master Bedroom 12×12

2nd Bedroom 12×15

If you have any questions or would like to schedule a private showing, please call me at 312-209-2264 or email me at lpruchnik@koenigstrey.com

Did you know…

Realtor.com® is the official site of the National Association of Realtors®. More than 13 million people visit Realtor.com each month, making it one of the most viewed real estate websites.  Koenig & Strey listings, which are ENHANCED on Realtor.com are seen 8.6 million times each month. It has high-impact features carefully designed to draw attention to your listing. Remember,  nearly half of all homebuyers use Realtor.com.

Based on rankings of 146 metro markets, (article here) here are the cities that had the highest search rankings for December 2011 at Realtor.com:

 1. Chicago

Median list price: $189,000

2. Detroit

Median list price: $80,000

3. Los Angeles-Long Beach, Calif.

Median list price: $324,900

4. Phoenix-Mesa, Ariz.

Median list price: $165,000

5. Atlanta

Median list price: $150,000

6. Tampa-St. Petersburg-Clearwater, Fla.

Median list price: $139,900

7. Philadelphia, Pa.-N.J.

Median list price: $224,950

8. Dallas

Median list price: $190,000

9. Las Vegas

Median list price: $120,000

10. Orlando, Fla.

Median list price: $155,000

What are the key features of Enhanced listings on Realtor.com?

• We can create an Animated Headline to draw attention to your listing
• We are allowed 2500 characters of property description
• Our photographers can take Up to 25 Jumbo Photos that fully showcase your home
• We can create a Video Tour to help attract prospective buyers
• Our simple-to-use Agent Contact Information makes it easy to schedule a showing 24/7
• A Special Message Box highlights the distinguishing features that set your property apart
• Open House Alerts help drive more buyers to your home and help to maximize showings

Per Mary Ellen Podmolik of the Chicago Tribune

Article Highlights Include:

• Sales of existing homes in the Chicago area managed to rise 1.3 percent in 2011, with December home purchases increasing a robust 17 percent due to mild weather and record-low mortgage interest rates, the Illinois Association of Realtors reported Friday.
• Within the city of Chicago, sales of condos and single-family homes both gained momentum last month from their December 2010 comparisons. Sales of condos posted a 5.3 percent gain, albeit with a 18.7 percent decline in the median price that brought it down to $183,000. For single-family homes within the city, sales rose 7.8 percent during the month, while the median price fell 1.7 percent from December 2010, to $135,000.
• For the year as a whole, median prices declined 11.9 percent and 13.8 percent for the Chicago area and the city, respectively.

Per Realtor Magazine and Freddie Mac

The 30-year fixed-rate mortgage hit another all-time low this week, marking the seventh straight week it has averaged below 4 percent, Freddie Mac reports in its weekly mortgage market survey.

Here’s a closer look at rates for the week ending Jan. 19:

• 30-year fixed-rate mortgages: averaged 3.88 percent, with an average 0.8 point, a new all-time low and dropping from last week’s previous record of 3.89 percent. A year ago at this time, 30-year rates averaged 4.74 percent.
• 15-year fixed-rate mortgages: averaged 3.17 percent, with an average 0.8 point, up slightly from last week’s record low of 3.16 percent. Last year at this time, 15-year rates averaged 4.05 percent.
• 5-year adjustable-rate mortgages: averaged 2.82 percent, with an average 0.7 point, the same as last week’s average. Last year at this time, 5-year ARMs averaged 3.69 percent.
• 1-year ARMs: averaged 2.74 percent, with an average 0.6 point, dropping from last week’s 2.76 percent average. Last year at this point, the 1-year ARM averaged 3.25 percent.

I found a very interesting article on AOL Real Estate that I would like to share with my readers.

With rental prices on the rise,  Home Ownership the more AFFORDABLE OPTION.  You can read the entire article Here but I have posted hightlights from the piece below.

• Rental prices in the top 20 most-populated metro areas climbed 3.75 percent in 2011, while home prices dropped by 1.83 percent
• Expect rental prices to continue to tick up during 2012, but at a slower pace, since home prices are expected to slide further
• Mortgage rates are also expected to hover around historic lows, providing another incentive for Americans to buy rather than rent
• As it stands, it’s currently cheaper to buy than rent in most U.S. cities. In fact, home affordability recently hit a 40-year high

Have you ever been looking at the MLS listing sheet that your agent provides you and wondered why at the numbers sometimes different number of days a property has been on the market?

The MLS has two different types of market time. One is called “List Market Time”; the other “Total Days on Market”.

“List Market Time” is the amount of time the property has been listed under its current listing number in connectMLS™.

“Total Days on Market” is the time the property has been listed under all listing numbers in connectMLS™.

PLEASE NOTE: “Total Days on Market” resets after a property has been off the market for ninety (90) days or a closing takes place.

Summary 2011:

In 2011, the Chicagoland real estate market showed greater stabilization as unit sales were nearly identical to 2010 numbers. This year more than 17.5 billion dollars of homes were sold throughout the region with an average MLS sale price of $219,661, which is about six percent below the average sale price last year with somewhat higher market times. Distressed and bank-owned properties continued to be a significant influence, declining from a high of 54% of transactions for the first eight months of the year to a low of 36.7% in July before climbing to end the year at 46.9% of unit sales.

Market Velocity:

The number of homes under contract has followed a seasonal trend line as expected. A sharp increase in March fueled a strong spring market, with smaller upticks in July and October signaling increased activity in the fall market. Distressed properties followed the same pattern, indicating some normalization within that inventory sector.

Mortgage Update: Low Rates Driving Housing Affordability

Rates for 30 year fixed loans peaked at 5% in the first quarter before moving steadily downward, reaching 4.5% at the end of the second quarter and further declining for the last half of the year. Rates briefly dipped below 4% in October and remained at, or below, 4% throughout November and December, reaching the low for the year at 3.91 percent in the week of 12/22. Concerns about economic instability across the globe created downward pressure on mortgage rates, as investors turned to US treasury bonds. Historically low rates created greater demand for refinance, resulting in some very busy months for lenders and title companies. Combined with a good selection of homes and attractive sales prices, low mortgage rates mean favorable climate for qualified buyers.

In Closing:

Behind the numbers and statistics is something much greater. Home is the place for connecting, celebrating, memory-making, and growing, and that is what we as realtors work hard to achieve for our clients each day. The buyers, sellers, owners and renters of Chicagoland depend on our expertise and ability to deliver, in any market.

Below is a link from a wonderful article I found on the Inman new website. It’s focus is on the creative ways archeticts and interior designers are incorporating the family pet into home design.  How homes should be “built around the whole family” and that includes family members with four legs!

Inman News Article

Per Realtor Magazine – The National Association of Realtors

Mortgage applications for purchase — a gauge of future home buying — increased 8.1 percent last week, the Mortgage Bankers Association reports. The purchase index on an unadjusted basis now stands at 41.9 percent higher than last year, signaling more people taking out loans to buy homes.

More home owners are also taking advantage of low interest rates. Refinance activity last week also increased, inching up 3.3 percent from a week earlier. Overall, mortgage applications were up 4.5 percent last week.

For the fifth consecutive week, 30-year fixed-rate mortgages have averaged at historical lows below 4 percent, Freddie Mac reported last week. For the week ending Jan. 5, 30-year fixed-rate mortgages averaged 3.91 percent, with an average 0.8 point, matching the previous record low set a few weeks ago.

Article Here

400 West Ontario Unit 804

$235,000 Plus $25,000 for Deeded Parking

Beautifully upgraded 1 bedroom 1bathroom at 400 West Ontario.  Unit 804 is move in ready and newly renovated with wood laminate flooring, granite and stainless steel kitchen, gorgeously renovated bathroom with new tile flooring, granite vanity, custom designed full shower surround and soaking jacuzzi tub. The bedroom offers 2 closets, one a deep walk in and views of the John Hancock building. In unit washer/dryer.  Deeded Parking $25,000.

Unique to the 8th floor is the attached private 285 square foot private terrace with beautiful skyline views to either side.

400 West Ontario is a full amenity PET FRIENDLY building complete with 24 hour door staff, fitness room, bike room, additional storage.  High speed internet and cable are included in the monthly assessments

Room Dimensions:

• Living Room/Dining Room: 18×13
• Master Bedroom: 12×11
• Kitchen: 12×8
• Private Terrace: 26×11