Monday, February 1, 2016

RE/MAX Sales Associates in Northern Illinois Raise Over $156,000 for Children’s Miracle Network in 2015

CHICAGO, Feb. 1, 2016 – The RE/MAX network in northern Illinois reports that its 2,250 sales associates raised $156,796 for Children’s Miracle Network Hospitals (CMN) and Lurie’s Children’s Hospital of Chicago in 2015, surpassing the 2014 total of $149,698 by 5 percent. RE/MAX is the official real estate sponsor of CMN.

“Once again, our sales associates have made an extra effort to assist CMN and Lurie Children’s with the great work they do helping children and their families who are facing serious medical challenges,” said Jim Merrion, regional director of the RE/MAX Northern Illinois network. “Since 1992, our network has donated nearly $2.9 million to CMN, and we expect to reach the $3 million mark this year.”


The donations to CMN are generated in a number of ways, with nearly all of the funds coming directly from RE/MAX sales associates, most in the form of either a single annual gift or a contribution made each time the associate closes a real estate transaction. In 2015, 57 offices in the RE/MAX Northern Illinois network, more than half the total, achieved Miracle Office status by reaching certain donation goals.

The 2015 gift to CMN was augment by a new program developed in cooperation with CBS Radio and the Chicago Bears Radio Network. Each time the Bears scored a touchdown, participating RE/MAX offices made donation to Touchdowns for Charity, with all proceeds benefitting CMN.

RE/MAX agents consistently rank among the most productive in the industry. In the United States, RE/MAX agents averaged 15.6 years of real estate experience and 16.0 transaction sides in 2014. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 105 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 100,000+ sales associates in 90+ nations.

#### EDITOR’S NOTE: RE/MAX® is a registered trademark. Please spell in all caps. Thank you. This release is posted at blog.illinoisproperty.com.

Thursday, January 28, 2016

RE/MAX Luxury Report on Metro Chicago Real Estate: Sales of $1 Million-Plus Homes Rose 8% in 2015

CHICAGO, Jan. 28, 2016 -- Sales of homes priced at $1 million or more in the metropolitan Chicago real estate market accelerated in 2015, while their median sales price declined slightly, according to the RE/MAX Luxury Report on Metro Chicago Real Estate. The report is a quarterly analysis by RE/MAX of $1-million-plus home sales in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will counties. It is based on sales date compiled by MRED, the regional multiple listing service.

There were 2,353 luxury home sales in 2015, 8 percent more than in 2014. Their median sales price was $1,340,000, 1 percent less than in 2014. Time required for those luxury properties to find a buyer rose slightly to 135 days from 131 days in 2014.

“The luxury market is the one segment of the metro Chicago residential real estate market in which we are seeing a high level of inventory,” said Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. “That fact contributed to the slight decline in the median sales price of luxury homes even as sales activity increased.”

Chicago Luxury Home Sales

In Chicago there were clear distinctions to be drawn between the markets for detached and attached luxury homes. Detached luxury sales increased 19 percent in the city during 2015, reaching 617 units, though the median sales price dipped 3 percent to $1,420,000.

The detached market was buoyed by robust construction activity, including new homes and gut rehabs of older structures. Expanded inventory helped boost average market time from 88 days in 2014 to 107 days in 2015.

The number of luxury attached homes sold in 2015 totaled 503 units, 2 percent more than in 2014, while the median price slipped 2 percent to $1,375,000. Average market time was 116 days, down from 128 days in 2014.

The year-end inventory of all luxury properties for sale in Chicago was equal to about a seven month supply based on the pace of sales in 2015.

Seven city communities – Lake View, Lincoln Park, Lincoln Square, Logan Square, Near North, North Center and West Town – accounted for 92 percent of all detached luxury sales. Sales increased in six communities. Attached luxury sales were concentrated in the Loop, Near North, Lincoln Park and Near South Side. Those four community areas had 93 percent of the city total.

Suburban Luxury Home Sales

Total luxury transactions in the Chicago suburbs increased 6 percent in 2015 to 1,233 units, while the median sales price declined 1 percent to $1,285,000. Average market time increased four days to 156 days. The inventory of luxury homes for sale totaled 1,820 at the end of 2015.

Among individual suburbs, Winnetka was the luxury home leader for the second consecutive year with 132 sales at a median price of $1,565,000, followed by Hinsdale, where 120 luxury homes sold in 2015 at a median price of $1,415,448. Wilmette placed third among suburban luxury markets in 2015 with 105 transactions at a median price of $1,300,000. Next on the list was Lake Forest, with 103 transactions at a median of $1,350,000, followed by Glenview, with 76 transactions at a median price of $1,265,000.

The next five communities in terms of luxury home sales activity were Glencoe with 57 sales, Evanston with 53 sales, the Barrington area with 48 and then Highland Park and Northbrook, each with 40 sales.

RE/MAX agents consistently rank among the most productive in the industry. In the United States, RE/MAX agents averaged 15.6 years of real estate experience and 16.0 transaction sides in 2014. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 105 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 100,000+ sales associates in 90+ nations.

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EDITOR’S NOTE: RE/MAX® is a registered trademark. Please spell in all caps. Thank you. This release is posted at blog.illinoisproperty.com.

Wednesday, January 27, 2016

RE/MAX Suburban Makes Key Acquisition, Adds RE/MAX Experts of Buffalo Grove; New Combination Had $1.1 Billion in 2015 Sales Volume

CHICAGO, Jan. 27, 2016 – RE/MAX Suburban, the largest RE/MAX brokerage in Illinois and the fifth largest residential brokerage organization based in the Chicago area according to the most recent national ranking by REAL Trends magazine, has acquired RE/MAX Experts of Buffalo Grove, Ill.
From left to right, Jay Blessent, Andee Hausman, Rachel Hausman,
Sarah Gilbert, Chad Gilbert and Jim Merrion

The acquisition was completed on Jan. 26, making the Buffalo Grove office the eighth in the RE/MAX Suburban organization. The other offices, all in Illinois, are in Arlington Heights, Glen Ellyn, Libertyville, Mt. Prospect, Schaumburg and Wheaton.

The combined firm, headquartered in Mt. Prospect, will have 215 brokers and generated sales of more than $1.1 billion in 2015.

The announcement was made by Chad Gilbert, president of RE/MAX Suburban, and Jim Merrion, regional director of the RE/MAX Northern Illinois network. Gilbert and his wife, Sarah, a retailing director, acquired RE/MAX Suburban in August 2015.

“We were eager to make the Buffalo Grove office part of RE/MAX Suburban for several reasons,” Gilbert said. “It’s an excellent geographic fit with our existing offices. It has a long history of success, and with this addition, RE/MAX Suburban will be home to five of the 10 most productive RE/MAX sales teams in the northern Illinois region.
“We said from the beginning that we are committed to aggressively expanding our organization and making it a clear choice for outstanding brokers who deliver top-tier customer service.”

RE/MAX Experts was established in 1987 and has been owned and operated since 2003 by Andee Hausman and Jay Blessent. Both have long been highly successful sales producers and will remain affiliated with the RE/MAX Suburban office in Buffalo Grove.

“We’re excited about joining the RE/MAX Suburban family,” said Blessent. “The Gilberts’ leadership should open the door to substantial growth for this office and its brokers.”

Hausman called the merger with RE/MAX Suburban a win-win for all involved and an excellent step forward in what already is shaping up to be an active 2016 housing market.

“This office is a great strategic fit for RE/MAX Suburban, and now our brokers will have access to the great resources that Suburban offers,” said Hausman, who has long ranked as one of the leading sales producers among Chicago-area brokers. Her sales team includes Blessent, her husband, as well as Rachel Hausman, her daughter, and Jacquelyn Muller.

RE/MAX Suburban is an award-winning organization, ranking as the 16th largest RE/MAX brokerage in the nation based on 2014 closed transaction sides, according to REAL Trends.

RE/MAX agents consistently rank among the most productive in the industry. In the United States, RE/MAX agents averaged 15.6 years of real estate experience and 16.0 transaction sides in 2014. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 105 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 100,000+ sales associates in 90+ nations.

#### EDITOR’S NOTE: RE/MAX® is a registered trademark. Please spell in all caps. Thank you. This release is posted at blog.illinoisproperty.com.

Wednesday, January 20, 2016

RE/MAX Northern Shores Makes Its Debut in Skokie; New Franchise Features Full-Service Concept with Local and Global Focus

Gathered outside their newly opened RE/MAX Northern Shores office
in Skokie, Ill., for its Jan. 15 grand opening are, from left,
Broker/Owners Manuel Waldo, Shaheen Pervaiz and Rafay Qamar.
CHICAGO, Jan. 20, 2016 – The Chicago area’s newest RE/MAX franchise, RE/MAX Northern
Shores, opened its doors on Jan. 12 in the heart of Skokie, Ill. At a grand opening celebration three days later, its ownership team said their brokerage is committed to offering a full range of real estate services while maintaining a sharp focus on both the local and global real estate markets.

The new office is located at 8814 Niles Center Road, adjacent to the intersection of Niles Center, Dempster Street and Skokie Boulevard. The 3,500 square-foot facility provides ample room for its initial staff of 17 brokers but also space for future growth.

Its debut was celebrated on Jan. 15 with an open house and ribbon cutting that attracted more than 200 guests and was hosted by co-founders Manuel Waldo, Rafay Qamar and Shaheen Pervaiz. Their vision is for RE/MAX Northern Shores to offer not only real estate brokerage, but also in-house access to a range of complementary services, including title insurance, mortgage lending, property management and an experienced real estate attorney.

They also view their new enterprise as a bridge between the North Shore real estate market and investors from around the world who find the area attractive.

Waldo, 52, will serve as managing broker of RE/MAX Northern Shores, and he anticipates that a good deal of the firm’s growth will come from the international investors with whom they have been working for the last decade during which he and Pervaiz were co-owners of Legent WP Realty, based in Lincolnwood, Ill.

“Those investors were drawn to North Shore residential properties during the recession of 2007-2008, and this area continues to attract them. I have active clients from 15 nations who are investing here,” said Waldo, a Chicago native who earned degrees from Loyola University of Chicago and Heriot-Watt University of Scotland. “One reason we wanted to affiliate with RE/MAX is that it is a global brand, and that makes it easier for us to service investors from many nations,” he said.

Pervaiz, 60, enjoyed a long career in IT consulting before turning his attention to real estate 12 years ago and partnering with Waldo. He works primarily with investors seeking either commercial or residential properties.

Adding another dimension to the new brokerage is Qamar, 28, a highly successful real estate sales producer in the North Shore market. He is moving to RE/MAX from Coldwell Banker, where he was named Illinois Rookie of the Year in 2014.

Qamar came to the United States from Pakistan to attend DePaul University in Chicago and stayed to pursue a career in banking at BMO Harris Bank before shifting his focus to real estate.

“Our long-term vision for RE/MAX Northern Shores is to expand our presence in the North Shore market, ideally by opening several offices to serve this area,” said Qamar. “Beyond that, we also would like to take advantage of our international contacts and the global stature of RE/MAX to explore overseas opportunities.”

RE/MAX agents consistently rank among the most productive in the industry. In the United States, RE/MAX agents averaged 15.6 years of real estate experience and 16.0 transaction sides in 2014. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 105 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 100,000+ sales associates in 90+ nations.

Tuesday, January 19, 2016

2015 Metro Chicago Housing Market Registered 8 Percent Rise in Median Price, While Sales Activity Increased 7 Percent, RE/MAX Reports

The metropolitan Chicago housing market showed steady improvement in 2015, RE/MAX reports.
The median price for all homes sold in the seven-county metro area was up 8 percent from 2014 to $211,000. Homes changing hands totaled 109,676, up 7 percent over the prior year.

The RE/MAX analysis was of homes sales data collected by MRED, the regional multiple listing service, for the Illinois counties of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will. Both transaction volume and the median sales price were up for the year in each of the seven counties.

“While results for the first half of 2015 were a bit stronger than those for the second half, the market maintained its positive momentum right through December,” observed Jim Merrion, regional director of the RE/MAX Northern Illinois real estate network. “It seems likely that 2015 sales volume was restrained by the relatively modest inventory of homes for sale, but that helped generate stronger pricing for those homes that were on the market.”

He noted that home prices remain quite sensitive to changes in the available inventory of homes. In the fourth quarter, inventory averaged 4 percent less than in 2014, and the median sales price rose 8 percent.

The year ended on a strong note, with December sales in the metro area rising 3 percent to 8,193 units and the December median price gaining 8 percent to $200,000.




METRO CHICAGO REAL ESTATE MARKET HOME SALES – 2015 VS. 2014










2015

2015

2015



Total
%
Detached
%
Attached
%


Sales
Change
Sales
Change
Sales
Change








Metro Chicago

109,676
+7%
69,751
+8%
39,925
+4%
Cook

61,012
+6%
33,167
+8%
27,845
+5%
DuPage

13,544
+7%
8,898
   +10%
4,646
+2%
Kane

7,193
+3%
5,679
+3%
1,514
+5%
Kendall

2,296
+10%
1,758
+15%
538
-4%
Lake

10,102
+4%
7,856
+5%
2,246
+1%
McHenry

4,965
+9%
4,065
+11%
900
-1%
Will

10,562
+11%
8,326
+12%
2,236
+6%
Chicago

27,449
+8%
10,508
+7%
16,941
+8%














Chicago accounted for 25 percent of all sales in the metro area in 2015, with 27,449 units changing hands, 8 percent more than in 2014. The median sales price climbed 7 percent to $261,500.

Attached homes, which include condominium apartments, townhouses and cooperatives, was the segment of the market most impacted by limited inventory. Sales activity there rose 4 percent in 2015 to 39,925 units, while the median price rose 9 percent to $180,000. Underscoring the demand for these units was the average time that attached units sold in 2015 spent on the market before going under contract. It was 79 days or just about 11 weeks, four days less than in 2014.

The strength of the attached market was especially noticeable in Chicago, where 16,941 units changed hands, representing 42 percent of all attached sales in the metro area and an 8 percent increase over 2014. The median sales price was up 5 percent.

A more ample supply of detached homes helped generate an 8 percent increase in sales activity to 69,751 homes, while the median sales price gained 5 percent to $225,000. The average market time was 101 days, up 3 days from the prior year.

Distressed properties continued to dwindle as a percentage of homes sold in the Chicago area in 2015, but still accounted for 21 percent of all sales, down from 28 percent in 2014. The distressed homes category includes properties being sold through a short sale or foreclosure.

RE/MAX agents consistently rank among the most productive in the industry. In the United States, RE/MAX agents averaged 15.6 years of real estate experience and 16.0 transaction sides in 2014. RE/MAX has been the leader in the northern Illinois real estate market since 1989 and is continually growing. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of more than 2,250 sales associates and 105 independently owned and operated RE/MAX offices that provide a full range of residential and commercial brokerage services. Its mobile real estate app, available for download at www.illinoisproperty.com, provides comprehensive information about residential and commercial property for sale in the region. The northern Illinois network is part of RE/MAX, a global real estate organization with 100,000+ sales associates in 90+ nations.