Chicago Real Estate News


April 17, 2019

Market Report April 17, 2019

    John Montgomery  
St. Charles


~ St Charles, IL. Dam ~
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Thinking of Buying or Selling, call John (630) 485-7000
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Posted in Market Updates
April 16, 2019

March Report

Brought to you by John Montgomery
440 S. 3rd Street, Ste 205
St. Charles IL, 60175
That spring feeling arrives earlier in the mind of a home buyer than it does for a home seller. If you are thinking of buying a home this year please enjoy the article below.
It’s been a busy month! Remember online valuation tools are fun but they are always inaccurate because they can’t track home improvements or identify inaccurate tax record info. 
Your customized link below gives you the latest information (just like an agent or appraiser) automatically. As always, if you need an accurate value I’m always here to help. Accuracy means thousands to your bottom line!

John Montgomery
We've been busy in St. Charles
If you have a friend who is interested in receiving this information customized to their home we would be happy and honored to help!
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March Article:

Excited About Buying A Home This Year? Here’s What to Watch

As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory.

Interest Rates

Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’slatest Primary Mortgage Market Survey, rates climbed to 4.94% in November before falling to 4.62% for a 30-year fixed rate mortgage last week. Despite the recent drop, interest rates are projected to reach 5% in 2019.

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows the impact that rising interest rates would have if you planned to purchase a $400,000 home while keeping your principal and interest payments between $2,020-$2,050 a month.

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000).


A ‘normal’ real estate market requires there to be a 6-month supply of homes for sale in order for prices to increase only with inflation. According to the National Association of Realtors (NAR), listing inventory is currently at a 3.9-month supply (still well below the 6-months needed), which has put upward pressure on home prices. Home prices have increased year-over-year for the last 81 straight months.

The inventory of homes for sale in the real estate market had been on a steady decline and experienced year-over-year drops for 36 straight months (from July 2015 to May 2018), but we are starting to see a shift in inventory over the last six months.

The chart below shows the change in housing supply over the last 12 months compared to the previous 12 months. As you can see, since June, inventory levels have started to increase as compared to the same time last year.

This is a trend to watch as we move further into the new year. If we continue to see an increase in homes for sale, we could start moving further away from a seller’s market and closer to a normal market.

Bottom Line

If you are planning to enter the housing market, either as a buyer or a seller, let’s get together to discuss the changes in mortgage interest rates and inventory and what they could mean for you.


Posted in Market Updates
March 12, 2019

An Abundance of the World’s Animals Call Chicago Home

Monkey around in Lincoln Park Zoo and get to know the animals calling Chicago home. Open year round and with free admission, anytime is perfect for quick trips or lengthy visits. Rich in history the doors first opened in 1868 introducing generations and generations to the world’s animal kingdom.

Hundreds of creatures thrive on the grounds. From the tiniest to the very large all the species are held in high regard. Mammals, reptiles, birds and amphibians are all represented.

Conservation and education go hand in hand and the Lincoln Park Zoo strives to enlighten visitors to the plight of wildlife around the globe. Sponsored projects include Conserving the Black-Footed Ferret, Modeling Red Wolf Recovery and the Ngorongoro Lion Conservation Project. Find out more here. Residents from Chicago homes can also support their favorite species by participating in the adopt an animal programs. Beautiful beasts to choose from include meerkats, giraffes, lions, chimpanzees, parrots and more.


Monkey Around on Chicago Real Estate

Simple steps make the most of visits. Prepare ahead by downloading a copy of the Lincoln Park Zoo Map. Check the schedule to attend daily activities. Learn even more about the animals by attending training and feeding sessions. Check the new arrivals page to find the latest editions to the zoo.

Delve in deeper with animal encounters. Gatherings in the Regenstein Small Mammal Reptile House introduce folks to a variety of its inhabitants. Farm animals wait to make new friends in the Farm-in-the-Zoo. Demonstrations include milking, feeding and care. Nearby and a seasonal experience, the Malott Family Penguin Encounter takes groups behind the scenes. In the penguin habitat, participants get to know the quirky birds. Penguins waddle about charming one and all with their cuteness.

Located minutes away from downtown Chicago real estate the park is great for getting away from the hustle and bustle of busy life. Grab the family and head on down for some memorable times.


Posted in News
March 12, 2019

Thumbs Grow Green on North Shore Real Estate

Visits to the Chicago Botanic Garden are known to turn thumbs green. Residents of North Shore real estate enjoy the botanical beauty of almost 400 acres. Natural areas blend with formal gardens and are spread alongside islands and miles of lake shoreline. Folks love to meander around the pathways all year round. Workshops and classes educate and inspire while special events add a bit of specialness to the grounds.

Wind around the boardwalk to get glimpses of water lilies and lotus flowers in the Aquatic Garden. Secret gardens are found on the boundaries of the Circle Garden creating feelings of intrigue. There’s always time to thoroughly enjoy the fragrance in the Rose Garden. The Native Plant Garden is a great resource for folks living in North Shore homes. Three separate spaces here are divided into a woodland garden, habitat garden and prairie garden. Traditions reign in the Elizabeth Hubert Malott Japanese Garden. Watch kids learn in the Children Growing Garden. Little ones can dig in and get dirty during workshops and classes.

Stroll about Garden Paths and Find Inspiration by North Shore Homes

Walking the garden paths are a favorite pastime for homeowners living in the North Shore real estate region. Free maps detail themed strolls including fitness walks, harvest hikes and zen walks. Self guided walks focus on specifics such as organics and photography.

Special events create quite a stir. The yearly Orchid Show draws a crowd. Beautiful blooms are offered for sale and gardeners can bring their own plants for repotting. Illinois Orchid Society lectures give insight into care of these popular plants. Extended hours keep the garden open for Summer Nights. Musical performances take place Mondays through Thursday evenings. Boundless bouts of creepy creativity are showcased during Night of 1,000 Jack-o’Lanterns. A howling good time is held by all each October. Highlights include illuminated jack-o’lanterns, the Spooky Pooch Parade and the Autumn Brews beer tasting event. When winter comes so does the Wonderland Express. An all out celebration includes a light show, complimentary holiday photographs and winter bingo.

The Chicago Botanic Gardens are located in Glencoe at 1000 Lake Cook Road. Doors are open year round and hours are seasonal. Stop into the garden shop and find a variety of charming items to bring back home. Call 847.835.5440 for more information.


Posted in News
March 12, 2019

Mystery Swirls About Tinley Park Property

Escape games challenge the mind on Tinley Park property. At Crack the Code groups willingly enter into seemingly precarious situations to test their sleuthing skills. Different rooms feature different plots. And, once the door closes the clock starts ticking.

Groups find puzzles and solve riddles to unlock clues and move forward through the game. The ultimate goal is figuring it all out before time is up. It’s all in fun so when groups seem to be stuck the game master can assist them in moving forward.

Three scenarios beckon players on the Tinley Park property. There’s loads of confusion in the Garden of Chaos. The beauty of the plants and flowers call to those who wander into the space. Once in the land of enchantment shadows flicker and darkness appears. Explorers soon realize the garden is alive with ill intent and all passageways are sealed.

Those who are claustrophobic should stay out the elevators or they may find themselves Trapped. Almost a hundred floors up the doors don’t open and cables start to snap. There really is no time to panic as only the quick witted can figure out a way to escape the steel enclosure.

Challenge Awaits Tinley Park Real Estate Residents

Ghost tours are not for the faint of heart. Brave souls are separated on a ghost tour of a mansion that turns out to be all too real. In Behind the Bookcase a true spector seeks its prey. Trapped in a hidden enclosure in the library it’s nearly impossible to find a way out. The ghost in charge will release his prisoners but only if they can successfully solve the mystery of his untimely death.

Rooms are designed with a medium degree of difficulty and welcome a minimum of 2 players. Experiences last 60 minutes and participants are asked to arrive 15 minutes prior to their reserved time. The Garden of Chaos can be adapted to a more kid friendly scenario for families interested in playing with younger children.

Tinley Park real estate residents gather together to solve mysteries and win the game. Reservations at Crack the Code can be made online or by calling 708.860.6930.


Posted in News
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates