Over $155 million sold and over 420 happy homeowners Shaunna Burhop | Baird & Warner Real Estate Broker 210 W. Northwest Highway, Arlington Heights, Illinois 60004 shaunna.burhop@bairdwarner.com
October 2022 Newsletter What do you love about Fall?
Layering on sweaters and jean jackets are a favorite part of my fall wardrobe, and I’m looking forward to baking up my famous pumpkin desserts. I’d be happy to share the recipes (or buy you a pumpkin spice latte) while we chat about any real estate questions you have. Call me today at 847.275.0277.
Market Update NORTHWEST SUBURBS* Detached, Single Family • Median Sales Price: $435,000 +7.4% • Average Days on Market: 37 +8.8% • New Listings: 589 -28.5% • Homes Under Contract: 398 -29.8% • Absorption Rate: 57.4% Attached, Condos + Townhomes • Median Sales Price: $222,500 +6.9% • Average Days on Market: 23 -28.1% • New Listings: 440 -38.6% • Homes Under Contract: 339 -25.5% • Absorption Rate: 92.9% *Statistics September 2022 v. 2021; (+) or (-) indicates change between the month of September 2022 compared to September 2021. Figures from MRED LLC. Info Sparks.
Calendar Downtown Trick or Treating: Make the most of your costume this year! Head downtown Mt. Prospect Wednesday, October 26, from 4–6pm; and then to Arlington Heights Monday, October 31, from 3–6pm to get treats from local merchants.
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TREND REPORT:
Bring in the outdoors!
W
ITH FALL RIGHT AROUND THE CORNER, cooler temps and declining daylight make us want to cozy up with a blanket and a Hot Toddy on our sofa instead of the patio. But it’s still important to keep a connection to the outdoors—and recent design trends are reinforcing that idea with materials like wood, stone, and clay that are easy to incorporate with your existing decor and can bring a sense of natural energy to your space. Light fixtures designed with natural stone are now taking center stage in living rooms and bedrooms. “There’s been a big movement to incorporate stone into light fixtures,” according to Jade Joyner, co-founder and principal at interior design firm Metal + Petal. Currently, alabaster mixed with brass or bronze is especially popular. A beautiful lamp not only provides light and warmth but can also be a room’s focal point as well. Incorporating real or faux branches also does the trick. Make a statement with some large stems placed on an entryway or dining room table. A simple gathering of three to five stems is all you need to make a stunning arrangement. Go big with both the stems and the vessel, using large vases, baskets or vintage tin buckets to help show them off. The Pottery Barn fall catalog is one of our favorite places for inspiration. Send me a shot of how you bring outdoor energy into your home and I’ll share some of my favorites on Instagram. n The Pottery Barn fall catalog (potterybarn. com) is a great source of inspiration for bringing natural materials into your home.
Source: realtor.com
STAGING + SELLING | SEARCHING + INVESTING | RENOVATIONS + DESIGN | RELOCATION + RETIREMENT | SENIOR LIVING + ESTATES
Consider purchasing a 2-4 unit building in the city if you’ve got a child who’s a student or recent graduate looking for a place to live or work—it’s a great way to stabilize their rent and build your investment portfolio at the same time.
MARKET REPORT:
YO U R K E Y TO S O L D
Build your wealth with multi-family housing
I
NVESTING IN MULTI-FAMILY REAL ESTATE can be a valuable way to build wealth and with an historically strong rental market, it could be your ticket to getting someone else to pay your mortgage. Here are some things to know about buying and financing these types of properties:
• Homes with up to four units are considered residential for the purpose of financing.
• You can use rental income to help qualify for a loan. This means if you’re approved to purchase a single family home at a certain limit, you may have more purchasing power if you buy a 2–4 unit property that has rental income. Note that not all the income applies though. Typically, 25% is subtracted to account for vacancies and maintenance. • Owner occupants of 2 to 4 units can choose among FHA loans, VA Loans or conventional financing, just like they would a single family home. There are some nuanced underwriting guidelines depending on the program and number of units, so always check with your loan officer to uncover any requirements around the property’s self sufficiency or payment reserves.
Want to learn more about multi-family investing opportunities? Ask me to connect you with a trusted mortgage professional who can answer your questions. n
October 2022 Newsletter To view an archive of previous issues and to read my new publication Open House magazine, please visit ISSUU.COM and search for Shaunna Burhop. — PHOTO CREDITS / OPPOSITE PAGE: (headshot and staging photo) Something Blue Photography; THIS PAGE: (Tracy’s headshot) Megan Berger.
ASK TRACY: What are your favorite branches and where do you find them?
— Branches add a rustic, natural feel to your home, and better yet—can usually be found right in your own backyard! Grab a few real ones before the leaves fall off, or head to stores like Target or Crate & Barrel for some gorgeous faux eucalyptus, olive, and bay leaf branches. Cluster several groupings together for a bolder statement! Tracy Bongiorno is an B&W realtor and associate of The Burhop Group.
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FEATURED LISTINGS:
DOWNTOWN CONDO WITH EAST VIEWS 77 Evergreen, Unit 1005, Arlington Heights COMING SOON: $289,000
THE BURHOP GROUP
RANCH WITH AMAZING LOCATION 323 S. Phelps, Arlington Heights COMING SOON: $439,000
SHAUNNA BURHOP is one of the top agents in the Chicago Northwest Suburbs, and she has consistently been recognized as one of the Top 10 Real Estate Agents in Illinois and also the Top Producing Agent at Baird & Warner NW Suburban. For more information on current listings, or to list your own home, call Shaunna today at 847.275.0277. If your property is currently listed, please disregard this solicitation. Information provided is not guaranteed and subject to change and withdrawal without notice. This newsletter is edited by Shaunna Burhop and designed by Adam Moroschan (adammoroschan.com), all rights reserved.
GORGEOUS NEWER CONSTRUCTION 508 S. Phelps, Arlington Heights PRIVATELY LISTED: $985,000