From the time-tested yard sign to cutting edge content marketing, there is no shortage of tactics for marketing a home these days, but the most successful sellers (and their brokers) create and follow a strategy that is tailored to their specific listing. Having a comprehensive blueprint to a sale positions your home to achieve the highest possible price in the shortest amount of time, and makes the process a lot more seamless.
Sellers should also be aware that buyers today — especially in the luxury market — are paying for “move-in ready” but negotiating hard when it comes to “needs work.” Be open to the idea of investing in your sale, i.e. spending some money to boost your home’s salability. Recent @properties sellers have undertaken projects such as painting, staging and re-finishing floors to give their homes a more current look.
The market is improving, and today’s buyers need to be realistic when making an offer. Home prices have appreciated overall and have even returned to peak levels in some areas. In fact, Chicago-based consulting firm Appraisal Research Counselors studied resales in 65 downtown condominium buildings in 2014 and found that the average sales price was only 4 percent below pre-crash levels. Talk to your broker about market conditions in your local neighborhood or town and prepare your offer based on the market right now.
It’s also important to take a long-term view. Yes, you’re paying more than you would have two or three years ago, but appreciating home values are a good thing for buyers too. Homeownership remains affordable in Chicagoland with 30-year mortgage rates at approximately 4 percent. And with apartment rents up by about 30 percent over the last 5 years, the rent-vs.-own analysis favors buying. If you’re on the fence about making a move, let’s sit down and look at the numbers.
CONSIDERING BUYING OR SELLING IN 2015 – HERE’S WHAT YOU NEED TO KNOW
Local markets heating up but remain affordable
Whether you’re ready to buy or sell this spring, or just looking for more information, feel free to contact Patrick or Victoria Carton any time. We sincerely thank you for your business and referrals.