The Jim Miller Group is excited to be a part of Jameson Sotheby’s and also thrilled to be affiliated with the Sotheby’s International Realty brand. These 2 heavywieghts are changing how real estate in marketed in Chicagoland and its most popular neighborhoods and villages. Please visit the Sellers Page on this website to see other ways The Jim Miller Group differentiates itself when marketing properties.
I’ve recented improved the property searches dramatically on this website. I worked with Spatial Match to create a customized search by neighborhood instead of town or city. It’s a beautiful way to search the local MLS via a map approach. You can easily adjust your pricepoints and bed/bath counts. You can search by your preferred neighborhood located on the right pane and towards the top of the page…or you can click here. Please take it for a test drive and let me know what you think.
October is an incredibly tough month to regulate the temperature in your home. Earlier this month, we had a 40 degree temperature swing over just 3 days. My clients Silviu and Liann introduced me to the Nest Thermostat. They installed it in their Old Town duplex and they love its features – especially the “self learning” functionality and the ability to control it from your smart phone. It retails around $250. Take a tour – > Click Here.
Note from ME: Do not run your air conditioner once the outside temperature drops below 65 degrees.
I met Jim several years ago, and knew right away that if I was ever going to buy or sell real estate, he would be my agent. This past spring, I decided that I wanted to sell my town home and upgrade into a single family. This had been a goal of mine for years and I was ready to pull the trigger.
I signed a listing agreement with Jim. He and his team got floor plans and photos completed within a few days. The home was listed on the MLS a few days later and I don’t think it was a week before we received and accepted an offer. Other units in my complex had been on the market for months.
The buyer of my townhome had to close in less than four weeks, and I hadn’t even started looking for a home to purchase. Jim really listened when I told him what type of house I wanted and he set up showings to help me understand the market better. In a matter of two weeks, Jim showed me over a dozen, hand selected homes, several of them more than once. He made himself available to me even at the expense of spending well deserved time with his family.
We narrowed it down to a few choices. I have never talked to anyone that knows as much as Jim about replacement value, school districts, inspection issues, etc. My decision came down to 2 houses. Jim made sure I did not overpay, even if it meant walking away from a house I really liked. I made my choice, we submitted an offer and Jim negotiated the price I was willing to pay. Within 24 hours, we had an accepted offer on my new home.
The amazing part of this story is that Jim, for all intents and purposes, walked the buyers of my town home through the buying process. They used a part time agent who was not engaged in the process. Jim went above and beyond for these buyers, even after two lenders couldn’t get their loan approved on time. Jim was able to avoid many roadblocks, a few potential meltdowns on my part, and got everyone through the process. Jim worked skillfully to get my townhome closed.
When I closed and moved into my new house, Jim had a list of helpful resources that I used extensively to get the place feeling like a home. Even after I moved, he continued to check in with me to make sure that I was getting settled. I would not have expected this level of follow up.
I also have to mention Jim’s assistant, Sierra, who is a superstar. This is a dynamic duo cannot be beat!
To Jim, my “brother from a different mother”, thanks for helping make my dream come true! I hope I never move again, but if I do, you are the first call. You better not change your number!
I received a call from a person who is planning on selling thier condo in 2013. I tend to get the following question this time of year and thought it would be helpful to answer this particular question on my blog.
Question: “Hey Jim, I got your number from Melissa who used you to sell her condo last year. I am planning on relocating next spring/summer to Boston and wanted to know what I should be doing now to prepare to list my condo?”
Answer: “Thanks for the call. There are several things I would be right now to list your home”:
- “When you list your home, it will need to show like a model. You could start by going through all of your clothes and belonging and decide what you want to move to Boston. If you are not going to take it with you, recycle it, sell it at a consignment shop or take it to a charitable organization”.
- “Later this fall or over the holidays, start packing all of the items that you want to move but can live without until you get settled in Boston. Put these boxes in storage. You will be amazed by how much better your condo will look after doing these first 2 things”.
- “Let’s schedule a time and I’d be happy to come over, look at your property and cover a market report (CMA) with you. You’ll need to know the approximate value of your condo so you can best decide what course you want to take. Honestly, with the drop in values over the last 4 years, some of my clients are forced to rent their property. We can discuss the best plan of action during our meeting”.
- “Once you’ve decided how you want to move forward, you’ll want to develop a timeline and to-do list. If there are “punch list” items that need to be done, now is the time to hire a handy man and get them completed. The spring market starts in the beginning of February so you’ll want to be ready to go by mid to late January. I can have a property on the market within 3 or 4 days after the photos are taken”.
“Those are just a few items you could get started on now. Once I visit your property, I’m sure I’ll have more thoughts for you.”
If you are in the same situation, please do not hesitate to call me. I’d be happy to stop by, discuss your property’s value and give you further thoughts on the best way/time to list your home. My contact information is at the bottom of the page.
We want to send out a big congratulations to John Garber of John Garber Homes for his successful completion of 1540 W. Wrightwood, a 3 flat consisting of a lower duplex, simplex and penthouse. All 3 units sold prior to completion. Thanks John for allowing The Jim Miller Group to market this property for you. Please contact me for future projects built by John Garber Homes. Next Up? 2769 N. Kenmore -delivery, Fall 2013.
Again, the big story is the amount of inventory that “burnt off”. The months of supply for single family homes dropped 50.2% on an average between 2011 and 2012 now sitting at 5.4 months. For condos and town homes, the number dropped 44.2% (2011 vs. 2012) and is now at 5.1 months. These numbers are trending in a way that 2013 could end up being a “sellers market”. 2006 was the last time we could say that with confidence.
The lack of inventory will help prices in Lakeview stabilize and rebound in 2013. Prices dropped slightly (0.6%) to $1,113,197 for single family homes on average in 2012 vs 2011. Condos and town homes dropped 4.4% on average to $323,276.
If you are looking to buy for the first time or move up and like the Lakeview neighborhood, don’t hesitate to contact me. I’ve got 15 years of experience selling and helping people buy in Lakeview.
Over the next week, I’ll be reviewing real estate trends in the neighborhoods I conduct the majority of my business. I lived and sold real estate in Lincoln Park for 15 years so lets start with this popular north side neighborhood. Probably, the biggest story in most neighborhoods is the precipitous drop in inventory across all property types. For a market to stabilize and move the momentum towards increased property values, inventory needs to decrease to a normal level and that is what we saw in Lincoln Park throughout 2012.
The supply of condos and town homes in Lincoln Park dropped 50.6% moving the months of supply from 10.7 months in 2011 to 5.3 months in 2012. The National Association of Realtors defines a normal/stable market as 4 to 5 months. That 5.3 months is an average for the year so as we start 2013, the number is lower. The average sales price in this category jumped a whopping 15% with an increase from $413,428 to $475,327 per unit.
The market for single family homes in Lincoln Park improved as well but not as dramatically as the condo/town home market. The months of supply dropped from 12 months to 8.7 months and the average sales price stay about the same with a $1,521,428 reading in 2011 and a $1,524,486 number in 2012
The improvements in the Lincoln Park real estate market really happened in the 2nd half of 2012. 2013 should be interesting. The consistent talk within the local Realtor community is the lack of inventory for their buyers who need/want to buy.
If I can help you in any way assess the value of your home or help you purchase, please do not hesitate to call me. My cell phone is 773.617.6638.
The Jim Miller Group would like to wish all of you a happy and safe holiday season.
I know, I know, the thought of preparing for any holiday is hard to swallow. Let’s face it, when Starbucks breaks out the Christmas cups, the holidays are just around the corner. First up, let’s just worry about Thanksgiving. One of my dearest friends and my mentor in the kitchen, Sandra Carman-Salyers swears by the turkeys they sell at Paulina Market. If there is a place in Chicago that is old school, it’s the Paulina Market at 3501 N. Paulina. It’s been family owned since 1949 and has butchers that have been behind the counter for over 30 years. They have to take orders for their Barber’s turkeys because of the quality (farm raised, no hormones, no preservatives). Even if you aren’t your family’s chef this Thanksgiving, drop in and check it out. You’ll be thankful you live in Chicago. If you are buying a turkey, don’t wait. For that dinner party this holiday season, they have great prime rib roasts.
When you’re done at the Paulina Market, drop by and see my friends at the Wine Discount at 1826 N. Elston. It’s one of the “easiest” places to buy wine. They’ll be able to help you find several nice bottles for your dinner which fall within your budget. Like Paulina, they are another mom and pop shop that absolutely have a love for what they do and sell.
Grab a cup of coffee, visit these 2 Chicago classics and be thankful you live in this great city!