lake county real estate. and then some…

selling homes…a family tradition


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#1 is a different approach to selling a home, that works. #2 is where I come into the picture…

2 Tips to Ensure You Get the Most Money When Selling Your House

2 Tips to Ensure You Get the Most Money When Selling Your House | MyKCM

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

2 Tips to Ensure You Get the Most Money When Selling Your House | MyKCM

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com, gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This too may seem counterintuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that:

“The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house.

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Today’s temperature may make this argument a bit less convincing ;)

Why You Shouldn’t Take Your House Off the Market During the Holidays

https://goo.gl/QWXa3p

If you are one of the many homeowners who is debating taking your home off the market for the next few weeks, don’t! You will miss the great opportunity you have right now!

The latest Existing Home Sales Report from The National Association of Realtors (NAR), revealed that the inventory of homes for sale has dropped to a 4.3-month supply.

Historically, a 6-month supply is necessary for a ‘normal’ market, explained below:

Why You Shouldn’t Take Your House Off the Market During the Holidays | MyKCM

There are more buyers that are ready, willing, and able to buy now than there have been in years! The supply of homes for sale is not keeping up with the demand of these buyers.

Bottom Line

Home prices are appreciating in this seller’s market. Making your home available over the next few weeks will give you the most exposure to buyers who will be competing against each other to buy it.


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447 Kingsport Drive, Gurnee IL 60031

Priced to sell! Redesigned in 2015 – the backyard oasis is the highlight of this fantasic home! Stone patio with lighted pathways, built-in grill in flagstone island with granite bar, sunken patio with firepit, tire swing & grand playset. Two story foyer & family room. Designer tile flooring, soft paint tones. Granite counters, stainless steel appliances. Master suite with updated bath. Finished basement. First floor den with access to the 3 season cedar room – complete with sauna. Who wouldn’t want to call this home?

 Click on home to see interior photos:

https://plus.google.com/+KieronQuaneRealEstateatPropertiesLibertyville/posts/PuSaqCNHFQQ



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Interest rates can have a significant impact on your buying power. We aren’t near the rates of the 1980’s, however with an expectation to see an increase in 2017, it will affect some buyer’s ability to purchase the home that they want.

The Impact Your Interest Rate Has on Your Buying Power

The Impact Your Interest Rate Has on Your Buying Power [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage.
  • Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are experiencing now.
  • Your purchasing power is greatly impacted by the interest rate you secure. Act now before rates go up!


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190 Meadowlark Circle, Lindenhurst IL 60046

Lowest priced home in Country Place right now! 4 bedroom, 2.1 bath with stainless steel appliances, Brazilian cherry flooring, newer carpet. Cozy family room with gas-start fireplace. Full basement has a partially finished – only carpet is needed!

Click on photo below, to see interior pictures:

https://plus.google.com/+KieronQuaneRealEstateatPropertiesLibertyville/posts/HMH73rFQTfE

 


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While past activity is not a guarantee of future action, it can provide some insight into what lies ahead. Thinking of selling in the spring? The graph is a pretty convincing reason to list sooner than later…

The #1 Reason to Sell Now… Not Next Spring

The #1 Reason to Sell Now… Not Next Spring | MyKCM

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

The #1 Reason to Sell Now… Not Next Spring | MyKCM

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.


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FOR SALE: 18765 Westwood Place, Lake Villa IL 60046

Fabulous floorplan enhanced by upgraded appointments throughout the home, full finished walkout basement, and backyard retreat complete with brick fireplace. Hardwood floors, crown molding, granite counters. Gourmet kitchen boasts stainless steel appliances. Master suite enjoys huge walk-in plus luxury bath. The finished basement is a terrific extension of the home – entertaining is easy with billiards room, cherry bar, rec area, full bath, craft room and office.  PRICED WELL BELOW BUILDING COSTS.

Click on front photo to link to album

 

https://plus.google.com/+KieronQuaneRealEstateatPropertiesLibertyville/posts/4HK5CWijP5B