Winnetka or Wilmette??? (Chicago, Kenilworth, Sheridan: sales, real estate, foreclosures)

[smdo]

Hi, I just moved here from California. We are renting in Kenilworth Gardens in Wilmette, and wanted to know a little about these 2 suburbs overall. We have two babies (2 and 8mos). We want kid friendly, good schools, near lake. we also love 1920s style houses. It seems Winnetka would be the better choice based on this alone.
We are also democrat/Catholic/Protestant. Will we stand out in these neighborhoods?
We love a house in Winnetka, but were worried about the "snootiness?" We like nice, but don't need to talk about it, or look down on who doesn't have...

[Lookout Kid]

Wow, tough choice. I'd hate to be in that situation...

Both towns offer what you say you are looking for, though Winnetka seems to have higher median home prices and household incomes. You'd be fine in either town, and could probaly just pick one based on the actual house you want to buy.

[Avengerfire]

I really do not think there is much difference between the two from my experience in both of them.

[thePR]

There isn't a difference. If you know that you want to live in one or the other then all that's left is to find a house. They're like twins.

[hsw]

Suspect Eastern Winnetka (esp Sheridan on lakefront side) attracts a far more affluent, more powerful crowd than does Wilmette, esp among the <50yo crowd w/younger families

In my expce, the "snootiest" areas in any region tend to be those of aspirational affluent/upper middle-income....those w/a few bucks pretending to be wealthy or important in a powerful industry....actually awfully amusing when one senses where many of these types went to school; their professional achievements; and what their rough net worth is likely to be

Generally, the highest achievers in any region tend to be some of lowest-profile, secure and gracious characters....and often capitalists who are fairly indifferent/pragmatic about social issues like politics, religion, etc

Personally, would rather be a pauper living near the most notable financiers/industrialists in a region...more fascinating people to run into from career perspective...and great, real-world educational/career role models for one's kids...

[cohdane]

I have heard reports that Winnetka is snootier. One, from a family who currently lives there with three boys (she wishes she could move). Another, from the realtor we are working with, who advised us to avoid it among North Shore suburbs since we tend to be more down to earth.

My experiences in Wilmette have been mostly positive-- it seems like a very family/kid oriented community. My impression (perhaps erroneous) is that Wilmette also has a lot of Catholic (and Irish-Catholic) families. Not typically a demographic I'd associate with snootiness.

FYI, I've been tracking North Shore real estate prices for about a year. Winnetka appears to be dropping fairly substantially. Wilmette appears to be more steady. Not sure what to make of that. Overall, inventory and days-on-market is extremely high on the North Shore-- coming from California, I'm sure you can appreciate what that might mean.

Check out this link (reports on October housing market and Y-O-Y figures): North Shore Chicago Real Estate | Get Listings, Prices & Advice

Have you considered renting a house for a bit? There are plenty to choose from and it could give you a chance to get the lay of the land, community and fit-wise, before committing. Home prices in the meantime are likely to drop further, or at worst, level off. So probably very little risk there.

[Paige65]

Either. I looked at both and would still consider living in both towns.

[chet everett]

I would not make too much of the drop in listing or selling price -- these are overwhelmingly SMART sellers. You are not going to see folks with HUNDREDS OF THOUSANDS in equity at stake pull the trigger on any sales in a challenging market.

And their are smart buyers that are taking advantage of having less competition for the "maybe a teardown, maybe a fixer upper" properties, which tends to artificially lower the stats -- though that may lead to better capitalized home owners / flippers because they are only ones active. If someone NEEDS to sell (there are deaths, foreclosures, divorces regardless of market conditions) odds are pretty good it is not going to some newbie with a liars loan these days. Those types were taken out of the market on stretchers all last year, and the few hanging on are much humbled...

I mean seriously the HUGE majority of folks in a town like Winnetka know EXACTLY what is means to SELL HIGH and many did that over the past five+ years. Wilmette has always had far fewer of the really expensive listing as a percentage of homes in the New Trier district.

Snootiness is pretty subjective - people with even a modicum of self confidence should be more than able to hold their own in any North Shore town. Throw in the obvious social glue of having kids the same age, a common park district or gymnastics class and all but the most insufferable boors get along pretty well. Sure, there are those that far more into "conspicuous consumption" but that happens even in far more "down market" areas. The reality is that even "long time" North Shore residents are far more likely to have pretty modest homes on fairly tight lots compared to folks that live in McMansions a few more miles inland. Even the historically "monied families" have been knocked down more than a few pegs in recent times -- the turmoil in publishing, financial services, and even the "blue chip" firms of traditional Chicago wealth have forced many who were insulated / flying high to reassess where they are in their ability to live the life to which they were accustomed.

Politically the traditional power structure of the North Shore (that spawned careers of guys like Rumsfield...) has be beat up badly. Mark Kirk held off a challenge more by being a "known quantity" than for any "blue blooded red state" sentiment. The younger folks voted overwhelming for the Obama over McCain, and their investment minded firms also threw MUCH MORE at the Obama campaign than the GOP. It is too soon to say how a Lisa Madigan (or other reasonable ethical Dems) would fair in fund raising vs who ever the GOP can field, but honestly the day-to-day "battles" of the labor unions / radical social movements and other traditional political powerhouses matters a whole lot less to MOST Illinoisans than the "photogenic qualities" and the stink of out right corruption that has polluted Governors of both parties...

The religious leanings of the North Shore are similarly pretty middle of the road -- you are not going to find too many "non traditional" types, be that the fringe elements of the ultra-conservative or extreme liberal, the churches tend to be about a stable core. Not exactly "old fashioned" so much as broadly inoffensive. As others said, Wilmette is a bit more of the "Irish", with more of the "festival oriented" family parish activities, though Winnetka has it share of activities too.

If you can find a home to your liking in your price range in Winnetka its smaller size is one way to more "securely lock in" value, though Wilmette is not a risky move either. I have friends in both towns are the things that they like / complain about are pretty much exactly what my friends in other desirable suburbs worry about: reliance on property taxes, changes from the "good old days" when incomes did not have to miles above the national medians, worries that kids are pushed too hard / not hard enough, realization that the broader society has many more people in more tenuous economic conditions beneath you - yet a sense that there are still very many visible folks miles above...

[middle-aged mom]

Originally Posted by chet everett

Snootiness is pretty subjective - people with even a modicum of self confidence should be more than able to hold their own in any North Shore town. Throw in the obvious social glue of having kids the same age, a common park district or gymnastics class and all but the most insufferable boors get along pretty well.

Good stuff, Chet.

I have yet to meet a snooty person, anywhere.

[cohdane]

OP-- middle-aged mom, Paige65 and even chet everett* have all been very reliable posters for as long as I've been reading this forum. They have given some of the best advice and insights I've come across.

If they say Winnetka is A-OK, ignore my post. Seriously.

*just kidding chet!