Please feel free to contact me for more information on how you can take advantage of this extended tax credit!

(Image by First Sterling Mortgage Services, LLC)

To provide extended relief for the U.S. housing market, President Obama signed into law a new legislation this month that allows first-time homebuyers to receive the $8,000 credit until April 30, 2010. The credit was due to expire on December 1, 2009.

Buyers also have an additional 60 days to close after April 30, 2010, meaning: if a homebuyer enters into a contract to buy a home on April 1, 2010, then they have until June 1, 2010 to close on the purchase and are still able to claim the $8,000 credit.

The legislation also provides a new credit for homeowners who purchase a larger residence between November 7, 2009 and April 30, 2010. Up to $6,500 in credit will be available to new buyers who have lived in their residence for at least five consecutive years during the eight-year period before the purchase of the new residence.

For more information, please click here.

Until October 19, 2009, the Kohl Children's Museum in Glenview is hosting a fabulous exhibit called Watch Us Grow: Monarch Butterflies.

Perfect for children and adults, the Monarch butterflies exhibit shows the lifecycle of these delicate creatures in all four stages: eggs, caterpillars, pupas, and adult butterflies. The transformation of a tiny white 1-millimeter egg to the bright orange and black-veined beauty is a rare, one-of-a-kind experience that is often missed in visits to the various Monarch butterfly santuaries throughout the country.

I recently saw a documentary about these butterflies and was truly awed to discover that they migrate both north and south as birds do, traveling from Washington D.C. to Angangueo, Mexico. That's nearly 1,900 miles! Scientists have yet to discover how these butterflies navigate themselves.

Monarch butterflies are also known to be the only butterflies that make transatlantic journeys, as some have been found on islands and oil rigs in the middle of the ocean. The fragility of their exotic wings beating against the rough winds is truly amazing to think about!

Don't miss this wonderful exhibit! Look for other exhibits perfect for the family on Kohl Children's Museum website.

The warm rays of the sun, the earthy smell of the vineyard, the cold wine glass in your hand as you walk through the beautiful winery ... could it be that you've been transported to Napa Valley? Fortunately, Chicago North Shore residents can forego the 4.5 hour plane ride and head to Evanston for a truly remarkable wine tasting experience.

Now We're Cookin' has planned an evening dedicated to wining this upcoming Friday, September 18th from 7pm to 9pm. Their event is titled "Food-Friendly Wines at Budget-Friendly Prices" where all bottles are less than $15 each. In addition to tasting various wines of high quality, guests to the event will also be able to sample foods that create the perfect match to the taste palette.

This would be a great opportunity to find the bottle that could become your favorite house wine. In addition to enjoying it with your family, it's always a lovely gesture for a friend, relative, or co-worker to receive as a gift a bottle that you highly recommend!

Now We're Cookin' also has other fabulous events for those who enjoy great cooking. Make sure to look at their website's calendar for demonstrations at the Evanston Farmers Market, hands-on cooking seminars, and future wine tasting events.

For more information and ticket prices, please visit the Now We're Cookin' website at http://www.nwcookin.com/.

Bon appetit!

First off, here is a chart for the average selling price of single family homes in the North Shore from January 2005 to July 2009. Overall, we see that closing prices have decreased steadily since 2007. Among these homes, 3-bedroom homes have been hit the hardest in terms of price decrease and is going at $363,645 average selling price, whereas luxury homes (5 bedrooms or more) have held up the steadiest price throughout the years and are going for $1,274,230 average selling price.

The graph below shows the trend of average selling price to listing price ratio from January 2005 to July 2009. Sellers are getting less than what they expect, but as long as they are working with a realtor who continually helps them come up with a strategic price, most sellers will on average get at least 90% of their asking price. So the market may be performing less vigorously than previous years, but it is still capable of a satisfactory return.

Here are some key things to remember. Even though you might hear reports about home markets picking up, there is still a huge amount of inventory of homes in the North Shore. Due to abundance of homes, prices are still going down on a monthly basis. It's the old story of supply and demand.

For a buyer to purchase a home, a seller needs to have a house that is 1) the winner of a beauty contest and 2) the lowest priced home in the area.

If there is more specific information you would like about your home or your area, or if you have any friends and neighbors who are unsure of their positioning in the market, I'm never too busy for any of your referrals.

This is a spectacular event you don't want to miss--if you haven't attended one yet, don't miss out on this year's show! The Chicago Air & Water Show will be celebrating its 51st anniversary this August, and it's the oldest and largest free admission aviation event in the country.

It started in 1958 with the goal of creating a show that would bring great entertainment for both parents and children in order to celebrate "Family Day." Apparently the first show had a budget of $88 and featured air rescue demonstrations and water skiers! Lucky for us, the event has grown larger ever since, and with increasing corporate sponsorship, it has become one of the largest spectacular events in the world.

Many top names in aviation have gathered for a breathtaking show throughout the years, and this year, we'll have the opportunity to see a great performance by the U.S. Air Force Thunderbirds and the U.S. Army Golden Knights.

This year's Chicago Air & Water Show will be held on Saturday, August 15th and Sunday, August 16th at North Avenue Beach. Admission is free! For more details, click here.

Of course, Ravinia is no secret for our music lovers in Chicago North Shore. When summer makes its way here, it's accompanied by the world's best music! The experience of sitting down in your favorite lawn spot, listening to Tchaikovsky, Gershwin or John Legend, and gazing up at the stars is truly a bliss.

This summer, Ravinia will be hosting "An Evening with Diana Krall" on Saturday, June 27. Diana is a Grammy Award-winning jazz pianist and singer with a deep, whispery voice that's alluring and perfect for a quiet evening.

Through July and August, there will be impressive performances by Lang-Lang and Yo-Yo Ma. For Ravinia's event calendar, please visit: http://www.ravinia.org/Calendar.aspx.

This boutique is an absolute gem. It's my favorite! Everywhere you look, you'll spot gorgeous clothing, jewelry and home accoutrements.

Rachel, the owner of Stella, looks for unusual items that have a one-of-a-kind feel and looks for items that are well-priced. She is attracted to items that have a whimsical or exotic look. 

The boutique is jampacked with treasures offering special gifts, interesting clothing and artisan jewlery and handbags. A real Bohemian feeling in the North Shore Suburbs.

Just give it a try. Tell Rachel that Marlene sent you!  Her store address is 2116 Central Street in Evanston and hours are Mon-Friday 10-6, Sat, 10-5 and Sundays 12-5. You won’t be disappointed!

Visit Stella's website: www.stellaevanston.com.

Want to know where the best hamburgers in North Shore are? If you want the best with proven record of having been the locals' favorite for years and years, make sure you go to Beinlich's or also known as Charlie Beinlich's Food and Tap, located on 290 Skokie Road in Northbrook.

The lines are always out the door and the restaurant is small. There are no tablecloths and the ambiance is classic and very lodge-like, but it has the BEST of foods, including gigantic shrimp cocktails, absolutely delicious hamburgers of every kind made to order.

There's no menu at Beinlich's except for the type set sign on the wall. The bar is constantly full and it's a "eat up, get up and get out" kind of place. When you look around, you'll notice why it's best not to linger because of all the people waiting.

Keep in mind, it's a MUST if you live in the North Shore of Chicago! It's also a great place to take your visiting friends and relatives for the real taste of Chicago all year-round.

What's your favorite item at Beinlich's? Feel free to share by leaving a comment!

It's a lovely Sunday afternoon and you decide to get some fresh air. As you're taking a stroll through your neighborhood, you admire houses with beautiful green lawns. It's just the right color--that deep, rich green and you would love to have that same color brushed across your lawn. It's time to send away those dry yellow patches.

The tips I want to give to you are how to best maintain the lawn that you currently have. "Lawn experts" will start from the type of grass, your area's climate, moisture level, analysis of the traffic over the lawn, etc, but honestly, not many of us have time to replace our entire lawn with a new type of grass, am I right?

I know many friends who struggle through the ups and downs of keeping a lush, green front lawn. So how can you save money without losing out on quality and beauty with the lawn you currently have? Below are some tips that I have learned through years of experience and researching.

• Reseeding: Reseeding is the easiest and least expensive way to revitalize your lawn. If your lawn has at least 50% healthy grass, then you could reap benefits from reseeding the troublesome spots.  By reseeding your lawn with a variety that is new and improved, you'll see thicker, greener grass. The best time to do this usually fall or spring; fall is preferred because it provides a better climate for the grass to grow. For step by step instructions, please visit here: Reseeding Your Lawn.

• Patching: If your lawn is generally healthy, but it suffers from bare spots or weedy patches, then all you have to do is patch the problem spots. This process will only take about 3-4 weeks and is like a small-scale version of reseeding. The most important thing is to discover why the bare spot appeared. Determine whether it's from over-fertilization, lack of water, insects, etc, in order to prevent the problem from happening again. For a great video that shows how to do patching, see this: Patching Video.

• Composting: This is a crucial step required to maintain a healthy lawn. Composting is recommended 2 to 3 times a year. As composting is an organic, safe method of fertilizing your lawn without harsh chemicals, it's a step you don't want to skip! For instructions and photos, visit here: Composting Instructions.

Hope you find this useful. Happy Spring!

As you start to hear more news about President Obama's Making Home Affordable Plan, you'll be wondering whether you qualify as a homeowner. Below is some of the key information to consider.

1. Who is the Making Home Affordable plan designed to help?

The Plan is designed to help families who've been affected by the sudden drop in housing prices. The Plan will give families access to low-cost refinancing or loan modification for lower monthly mortgages to slow the wave of foreclosures.

The Plan is restricted to owners of primary residences who are looking in good faith to restructure their mortgage payments. The Plan does not bail out speculators or house flippers.

2. Do I qualify?

Due to the Plan's complexity, the US Department of Treasury and Department of Housing and Urban Development launched the following website, which includes interactive self-assessment tools to determine if you qualify: www.MakingHomeAffordable.gov.

If you have any specific questions regarding your situation, please feel free to email me.

Home warranties are designed to insure the home against mechanical failures in plumbing, heating, electrical, and installed appliances.

How do they work? For an annual fee anywhere between $250 to $600, the warranty company hires local repair companies to provide service in case of mechanical failure when contacted by the homeowner. If the mechanical breakdown is covered in the warranty contract, then the homeowner pays a fee for the service visit, around $25-$75. 

There are several important points to remember when choosing a home warranty:

1. Carefully read the service agreement to be clear on what is and is not covered. Some contracts could intentionally have loopholes. 
2. Research the customer service track record of the company by looking on the internet for any customer reviews.
3. Check that the company has a solid financial history. How long has it been in business? How has it been performing for the past several years?

For more information on how to choose the right home warranty, I recommend this article from MSN Money.

When selling your home in the winter, the art of staging the inside becomes more important. 

Here are five simple tips that can help you sell your home even when the outside landscaping has faded:

• Keep your house warm.  In the winter people tend to turn the thermostat down to save money, however a warmer house is more welcoming to a potential buyer.
• Clear your walkways and driveways of any snow or ice.  Make it easy for buyers to get to your home.
• Clean the windows and blinds.  Letting in the natural light can brighten up a room and cheer up the home.  This also brings attention to the windows and blinds so make sure they are clean even during winter.  Dirty windows will make the home seem as those it's not well maintained.
• Background music played softly can completely change the atmosphere making the home seem cozy and keep potential buyers around longer.  Stick with classical music which can appeal to anyone.
• Leave the light on.  Before showing a home, make sure it's well lit.  A well lit home is more inviting.  If you're not home, consider setting up timers.

Following these simple tips can give your house that added boost in today's competitive market.

Want a great one-stop shop for your new home furnishing or remodeling needs at factory-direct prices? I would recommend DirectBuyCares.com. Don't forget to read the Design Ideas and Forums at the bottom of this site. 

*It is highly recommended you seek the advice of a Certified Public Accountant about your personal tax structure.

• Inspect your fireplace: The fireplace should be professionally inspected once a year and cleaned if necessary.
• Replace furnace filters: This will improve airflow and improve the efficiency of your home's heating system.
• Place a mat next to entries: Protect your hardwood floors from mud, snow, and salt with this easy step.
• Seal any windows with cracks: By preventing cold air from entering the house, you'll see major savings in utility costs.
• Clean out gutters and downspouts: This will prevent the formation of ice dams.
• Inspect your smoke alarms: Clean the dust from the cover and replace batteries.

The National Association of Realtors noted that new residential construction is down by 31.1% compared to September 2007 (NAR, Oct 2008), so this means that there will be a decrease in the overall supply of new homes in the market. What does that mean for you as a homeowner? With less homes in the market, the value of your home is less likely to be negatively impacted.

Real estate is still a great investment, even if we are experiencing a rocky road as the market is correcting itself. In spite of the negative news that surrounds us, I want to emphasize that homes are selling--they may be taking longer than usual, but they are selling.

Marlene Bass, Broker Associate, REALTOR(R), ASP, CRS, e-PRO(R), GRI, SRES
Coldwell Banker Residential Brokerage
1330 Shermer Rd
Northbrook, IL 60020
PH: (847) 209-9880

Wellness Associates
2150 Pfingsten Rd # 2250
Glenview, IL 60026 
PH: (847) 729-2320